15740 Grey Goose Dr · Spencer, MI 49326

$239,000

3 bd · 1.0 ba · 1,408 sqft · Manufactured public records · 323 Days on market

Built 1991 0.41 ac lot $170/sqft · 89% above area

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Why this score? — see what drove the B- 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).

• Cash flow +26.2/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Appreciation +5.0/10.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Spacious 3-bedroom manufactured home featuring a screened-in porch off the back, a large deck, and a patio--ideal for outdoor living. Enjoy an additional front deck, a 24' x 30' two-stall garage, and a storage shed. The home sits on a generously sized lot surrounded by mature shade trees with recently updated landscaping. Inside, you'll find a cozy living room, a beautifully renovated kitchen with a dining area, and a sunroom with utility hook-up. Vinyl siding provides low-maintenance living. Don't miss this move-in-ready gem!

Key facts

• Large deck
• Screened-in porch
• Generously sized lot

Tags

• SCREENED-IN PORCH
• LARGE DECK
• PATIO
• TWO-STALL GARAGE
• STORAGE SHED
• GENEROUSLY SIZED LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $239k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $239k).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Greenville Public Schools (town): math 35% / reading 52% proficiency, ranked #167 of 540 in MI (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($2k loan paydown + $223 appreciation (0.1% local appreciation)).
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $67k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 323 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 27y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $12k; list at $239k implies a 1892% gain — meaningful room to come down on a strong offer.

Recommended offer $210,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 323 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.87%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (median comp): $126,538
• List price: $239,000
• Delta: 88.88%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

0.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.2%
• Equity multiple: 1.49×
• Total profit: $32,721
• Equity at exit: $70,518

10-year hold

• IRR: 15.0%
• Equity multiple: 2.66×
• Total profit: $110,942
• Equity at exit: $85,664

Cash invested: $66,920 (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 49326

• Home prices YoY: 0.0%
• Active inventory: 27
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,858 medium
• Mortgage (P&I): −$1,253
• Tax est. 1.5%: −$299 /mo · $3,585/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$600
• Net cashflow: $606

Break-even live

Break-even rent $2,091

Max offer price $239,000

Occupancy floor 74%

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-18
   days on market $239,000 Active 323 DOM
2. 2026-06-17
   days on market $239,000 Active 322 DOM
3. 2026-06-16
   days on market $239,000 Active 321 DOM
4. 2026-06-15
   days on market $239,000 Active 320 DOM
5. 2026-06-14
   days on market $239,000 Active 318 DOM
6. 2026-06-13
   days on market $239,000 Active 317 DOM
7. 2026-06-10
   days on market $239,000 Active 315 DOM
8. 2026-06-09
   days on market $239,000 Active 314 DOM
9. 2026-06-08
   days on market $239,000 Active 313 DOM
10. 2026-06-07
    days on market $239,000 Active 312 DOM
11. 2026-06-03
    days on market $239,000 Active 308 DOM
12. 2026-06-03
    days on market $239,000 Active 307 DOM
13. 2026-06-01
    days on market $239,000 Active 306 DOM
14. 2026-05-31
    days on market $239,000 Active 305 DOM
15. 2025-10-03
    price $239,000 532-char remark

    Show marketing remark (532 chars)

    Spacious 3-bedroom manufactured home featuring a screened-in porch off the back, a large deck, and a patio--ideal for outdoor living. Enjoy an additional front deck, a 24' x 30' two-stall garage, and a storage shed. The home sits on a generously sized lot surrounded by mature shade trees with recently updated landscaping. Inside, you'll find a cozy living room, a beautifully renovated kitchen with a dining area, and a sunroom with utility hook-up. Vinyl siding provides low-maintenance living. Don't miss this move-in-ready gem!

16. 2025-10-02
    price $239,000 532-char remark

    Show marketing remark (532 chars)

    Spacious 3-bedroom manufactured home featuring a screened-in porch off the back, a large deck, and a patio--ideal for outdoor living. Enjoy an additional front deck, a 24' x 30' two-stall garage, and a storage shed. The home sits on a generously sized lot surrounded by mature shade trees with recently updated landscaping. Inside, you'll find a cozy living room, a beautifully renovated kitchen with a dining area, and a sunroom with utility hook-up. Vinyl siding provides low-maintenance living. Don't miss this move-in-ready gem!

17. 2025-10-02
    price $239,000

    Show marketing remark (532 chars)

    Spacious 3-bedroom manufactured home featuring a screened-in porch off the back, a large deck, and a patio--ideal for outdoor living. Enjoy an additional front deck, a 24' x 30' two-stall garage, and a storage shed. The home sits on a generously sized lot surrounded by mature shade trees with recently updated landscaping. Inside, you'll find a cozy living room, a beautifully renovated kitchen with a dining area, and a sunroom with utility hook-up. Vinyl siding provides low-maintenance living. Don't miss this move-in-ready gem!

18. 2025-07-31
    listed $239,900 Active 532-char remark

    Show marketing remark (532 chars)

    Spacious 3-bedroom manufactured home featuring a screened-in porch off the back, a large deck, and a patio--ideal for outdoor living. Enjoy an additional front deck, a 24' x 30' two-stall garage, and a storage shed. The home sits on a generously sized lot surrounded by mature shade trees with recently updated landscaping. Inside, you'll find a cozy living room, a beautifully renovated kitchen with a dining area, and a sunroom with utility hook-up. Vinyl siding provides low-maintenance living. Don't miss this move-in-ready gem!

19. 2025-07-30
    listed $239,900 Active 532-char remark

    Show marketing remark (532 chars)

    Spacious 3-bedroom manufactured home featuring a screened-in porch off the back, a large deck, and a patio--ideal for outdoor living. Enjoy an additional front deck, a 24' x 30' two-stall garage, and a storage shed. The home sits on a generously sized lot surrounded by mature shade trees with recently updated landscaping. Inside, you'll find a cozy living room, a beautifully renovated kitchen with a dining area, and a sunroom with utility hook-up. Vinyl siding provides low-maintenance living. Don't miss this move-in-ready gem!

20. 2025-07-30
    listed $239,900 Active

    Show marketing remark (532 chars)

    Spacious 3-bedroom manufactured home featuring a screened-in porch off the back, a large deck, and a patio--ideal for outdoor living. Enjoy an additional front deck, a 24' x 30' two-stall garage, and a storage shed. The home sits on a generously sized lot surrounded by mature shade trees with recently updated landscaping. Inside, you'll find a cozy living room, a beautifully renovated kitchen with a dining area, and a sunroom with utility hook-up. Vinyl siding provides low-maintenance living. Don't miss this move-in-ready gem!

21. 2014-09-16
    historical
22. 2014-09-15
    historical
23. 2010-04-02
    soldstatus $12,000
24. 2010-03-29
    soldstatus $12,000
25. 2010-03-29
    soldstatus $12,000
26. 2009-11-20
    listed $14,400
27. 2009-11-20
    listed $14,400
28. 2009-11-20
    historical
29. 2009-05-08
    listed $19,800
30. 2009-05-08
    listed $19,800
31. 2008-05-19
    historical
32. 2007-10-18
    soldstatus $77,105
33. 2007-10-08
    listed $84,900
34. 2007-10-08
    listed $84,900
35. 1999-10-19
    soldstatus $74,062
36. 1999-10-08
    soldstatus $76,400
37. 1999-10-08
    soldstatus $76,400
38. 1999-05-13
    listed $74,900
39. 1999-05-13
    listed $74,900

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,299
• − Mortgage interest: −$13,388
• − Property taxes: −$3,585
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,744
• − Management: −$2,744
• − Depreciation: −$6,953
• Taxable income: $3,691
• Est. tax owed @ 24.0%: −$886
• After-tax cash flow: $6,390/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.

Schools (NCES district)

• District: Greenville Public Schools
• NCES district ID: 2617160
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $44,624
• Composite: 36.81/100
• National rank: #4566
• State rank: #167 of 540 in MI

Livability — Spencer

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,126

Population outlook (Kent County) Hauer SSP2

• Today (2025): 712,484 people
• By 2030: 748,618 · +5.1%
• By 2040: 814,777 · +14.4%
• By 2050: 868,556 · +21.9%
• By 2075: 966,487 · +35.7%
• By 2100: 967,975 · +35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 5%
• Common ancestry: Iranian 10% Romanian 3% Lithuanian 3%
• Foreign-born: 0% · China
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Kent

• 2024 margin: Lean D (+5.4) · D 51.8% · R 46.5% · Other 1.7%
• 2008→2024 swing: +4.8pp toward D · 2008: 0.5pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+6.1 2016: R+3.1 2012: R+7.9 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.09%
• Current HPI: 379.9632
• 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

+219.1% since first listed

25 events — show timeline

• 2025-10-03 Price Changed $239,000 MiRealSource-MiMLS
• 2025-10-02 Price Changed $239,000 REALCOMP
• 2025-10-02 Price Changed $239,000 SW Michigan MLS
• 2025-07-31 Listed $239,900 REALCOMP
• 2025-07-30 Listed $239,900 SW Michigan MLS
• 2025-07-30 Listed $239,900 MiRealSource-MiMLS
• 2014-09-16 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2010-04-02 Sold (Public Records) $12,000 Public Records
• 2010-03-29 Sold (MLS) $12,000 REALCOMP
• 2010-03-29 Sold (MLS) $12,000 SW Michigan MLS
• 2009-11-20 Listing Removed — REALCOMP
• 2009-11-20 Listed $14,400 REALCOMP
• 2009-11-20 Listed $14,400 SW Michigan MLS
• 2009-05-08 Listed $19,800 REALCOMP
• 2009-05-08 Listed $19,800 SW Michigan MLS
• 2008-05-19 Listing Removed — REALCOMP
• 2007-10-18 Sold (Public Records) $77,105 Public Records
• 2007-10-08 Listed $84,900 REALCOMP
• 2007-10-08 Listed $84,900 SW Michigan MLS
• 1999-10-19 Sold (Public Records) $74,062 Public Records
• 1999-10-08 Sold (MLS) $76,400 REALCOMP
• 1999-10-08 Sold (MLS) $76,400 SW Michigan MLS
• 1999-05-13 Listed $74,900 REALCOMP
• 1999-05-13 Listed $74,900 SW Michigan MLS

Property tax history

-6.5%/yr

Latest (2025): $372 · -76.6% YoY. Source: county tax records.