7604 Red Arrow Hwy #134 · Watervliet, MI 49098

$59,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 30 Days on market

Built 2014 Good condition Est $114k · 48% under $682/mo HOA · 52% of rent

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• Cash flow +8.9/30.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well-maintained 2014 Hart single-wide manufactured home offering approximately 1,200 sq ft in Pleasant View Estates. This spacious home features 3 bedrooms and 2 full bathrooms, including a primary suite with attached bath and walk-in closet. The kitchen offers a center island, abundant cabinetry, and opens up to the living room. Newer vinyl laminate flooring has been installed throughout the kitchen, living room, and hallway. Enjoy the attached covered porch with plenty of space to relax outdoors. Additional features include a separate laundry area and a large storage shed, perfect for lawn equipment or additional outdoor storage needs. Lot rent is $625.00 a month and includes trash. water/sewer, lawn and snow removal. Must be approved though Pleasant View estates.

Key facts

• Center island
• Large storage shed
• Built 2014

Tags

• PLEASANT VIEW ESTATES
• CENTER ISLAND
• ATTACHED COVERED PORCH
• SEPARATE LAUNDRY AREA
• LARGE STORAGE SHED

Property features AI

Finance

• HOA & community: Monthly association fee of $682; Association covers water, trash, sewer, snow removal, and lawn/yard care

Exterior

• Home design: Residential property; Other architectural style; Built in 2014
• Construction: Vinyl siding
• Exterior features: Paved road access; Shed(s) on property; Public water

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 6 total rooms; Basement of other/unspecified type

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $59k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-48 ($-573/yr) — negative.
• To cash-flow at today's rent, offer at most $52k (11.7% below list).
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $52k (11.7% below list) — sets the bar for cash-flow.
• Cap rate 5.3% vs local median 4.2% in Watervliet — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 70/100 on livability (#295 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, crime D+, amenities F.
• Watervliet School District (town): math 31% / reading 43% proficiency, ranked #260 of 540 in MI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: South Elementary School (359 students, 68% FRL); Watervliet Middle School (math 31% / reading 45%, grade F, #235 of 493 statewide, top 49%, 288 students, 62% FRL); Watervliet Senior High School (math 22% / reading 52%, grade F, #334 of 713 statewide, top 51%, 393 students, 61% FRL).
• Market conditions: 81 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $408 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Berrien County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 52% of rent.

Recommended offer $52,094 (11.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 2.24% ✓
• Cap rate: 5.32%
• Cash-on-cash: -3.47%
• DSCR: 0.85
• GRM: 3.7

CMA / ARV

• ARV (on-the-fly): $114,304
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7604 Red Arrow Hwy Lot 129	0.16mi	3/2.0	1,222 (+0%)	14mo	$62,500	$51	80
3864 Case Ct	0.28mi	3/1.0	1,064 (-12%)	6mo	$100,000	$94	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -21.1%
• Equity multiple: 0.26×
• Total profit: $-12,161
• Equity at exit: $8,797

10-year hold

• IRR: -12.6%
• Equity multiple: 0.23×
• Total profit: $-12,720
• Equity at exit: $5,101

Cash invested: $16,520 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 49098

• Active inventory: 81
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$682
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $-48

Break-even live

Break-even rent $1,379

Max offer price $52,094

Occupancy floor 99%

Sensitivity live

Price	-10% $-7	-5% $-27	+0% $-48	+5% $-68	+10% $-88
Rent	-10% $-152	-5% $-100	+0% $-48	+5% $4	+10% $56
Rate	-1.0pp $-18	-0.5pp $-33	base $-48	+0.5pp $-63	+1.0pp $-79

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7604 Red Arrow Hwy Watervliet, MI	2.0–3.0	2.0	1078	$1,319	$1.22	46d	1	0.17mi

HOA detail

• Monthly dues: $682 · $8,184/yr
• Likely covers: watersewertrashsnow removal

Listing history 22 events

1. 2026-06-22
   days on market $59,000 Active 30 DOM
2. 2026-06-21
   days on market $59,000 Active 29 DOM
3. 2026-06-21
   days on market $59,000 Active 28 DOM
4. 2026-06-18
   days on market $59,000 Active 26 DOM
5. 2026-06-17
   days on market $59,000 Active 25 DOM
6. 2026-06-16
   days on market $59,000 Active 24 DOM
7. 2026-06-15
   days on market $59,000 Active 23 DOM
8. 2026-06-13
   days on market $59,000 Active 21 DOM
9. 2026-06-12
   days on market $59,000 Active 20 DOM
10. 2026-06-09
    days on market $59,000 Active 17 DOM
11. 2026-06-09
    price $59,000 Active 16 DOM
12. 2026-06-08
    days on market $64,000 Active 16 DOM
13. 2026-06-07
    days on market $64,000 Active 15 DOM
14. 2026-06-07
    days on market $64,000 Active 14 DOM
15. 2026-06-04
    days on market $64,000 Active 11 DOM
16. 2026-06-02
    days on market $64,000 Active 10 DOM
17. 2026-06-01
    days on market $64,000 Active 9 DOM
18. 2026-05-31
    days on market $64,000 Active 8 DOM
19. 2026-05-31
    days on market $64,000 Active 7 DOM
20. 2026-05-23
    listed $64,000 Active

    Show marketing remark (776 chars)

    Well-maintained 2014 Hart single-wide manufactured home offering approximately 1,200 sq ft in Pleasant View Estates. This spacious home features 3 bedrooms and 2 full bathrooms, including a primary suite with attached bath and walk-in closet. The kitchen offers a center island, abundant cabinetry, and opens up to the living room. Newer vinyl laminate flooring has been installed throughout the kitchen, living room, and hallway. Enjoy the attached covered porch with plenty of space to relax outdoors. Additional features include a separate laundry area and a large storage shed, perfect for lawn equipment or additional outdoor storage needs. Lot rent is $625.00 a month and includes trash. water/sewer, lawn and snow removal. Must be approved though Pleasant View estates.

21. 2026-05-23
    listed $64,000 Active 776-char remark

    Show marketing remark (776 chars)

    Well-maintained 2014 Hart single-wide manufactured home offering approximately 1,200 sq ft in Pleasant View Estates. This spacious home features 3 bedrooms and 2 full bathrooms, including a primary suite with attached bath and walk-in closet. The kitchen offers a center island, abundant cabinetry, and opens up to the living room. Newer vinyl laminate flooring has been installed throughout the kitchen, living room, and hallway. Enjoy the attached covered porch with plenty of space to relax outdoors. Additional features include a separate laundry area and a large storage shed, perfect for lawn equipment or additional outdoor storage needs. Lot rent is $625.00 a month and includes trash. water/sewer, lawn and snow removal. Must be approved though Pleasant View estates.

22. 2026-05-23
    listed $64,000 Active 776-char remark

    Show marketing remark (776 chars)

    Well-maintained 2014 Hart single-wide manufactured home offering approximately 1,200 sq ft in Pleasant View Estates. This spacious home features 3 bedrooms and 2 full bathrooms, including a primary suite with attached bath and walk-in closet. The kitchen offers a center island, abundant cabinetry, and opens up to the living room. Newer vinyl laminate flooring has been installed throughout the kitchen, living room, and hallway. Enjoy the attached covered porch with plenty of space to relax outdoors. Additional features include a separate laundry area and a large storage shed, perfect for lawn equipment or additional outdoor storage needs. Lot rent is $625.00 a month and includes trash. water/sewer, lawn and snow removal. Must be approved though Pleasant View estates.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,828
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − HOA: −$8,184
• − Depreciation: −$1,716
• Taxable loss: −$1,090
• Est. tax savings @ 24.0%: +$262
• After-tax cash flow: $-311/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 22 photos

Good 80/100 Cosmetic rehab

This well-maintained 2014 Hart single-wide manufactured home is in good condition with minimal repairs needed. It offers a spacious layout and is move-in ready.

Value-add opportunities

• Both Paint exterior shutters — Enhances curb appeal and value
• Both Replace outdoor light fixtures — Improves curb appeal and safety

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior shutters — Enhances curb appeal and value ↑
• Both Replace outdoor light fixtures — Improves curb appeal and safety ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Watervliet School District
• NCES district ID: 2635460
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 43% ▼ -1.00%
• Median HH income: $42,249
• Composite: 31.22/100
• National rank: #6034
• State rank: #260 of 540 in MI

Livability — Watervliet

• Score: 70/100
• State rank: #295
• US rank: #7373

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment C- Housing A Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,791

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 9% Black 5% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 7% Romanian 4% Slovak 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 3% French/Haitian/Cajun 0%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -223.00%
• Current HPI: 208.2105
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+0.0% since first listed

3 events — show timeline

• 2026-05-23 Listed $64,000 MiRealSource-MiMLS
• 2026-05-23 Listed $64,000 REALCOMP
• 2026-05-23 Listed $64,000 SW Michigan MLS