2735 S Wagner Rd #103 · Lodi, MI 48103

$59,000

3 bd · 2.0 ba · 1,165 sqft · Manufactured · 35 Days on market

Built 2018 Good condition 1,800 sqft lot $51/sqft · 87% below area $776/mo HOA · 26% of rent ↓ 14% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this highly desirable Orchard Grove Manufactured Home Community. .. . where the residents make a great effort in maintaining their properties. Conveniently located near shopping and dining areas , and of course the great Ann Arbor School district. This house was manufactured in 2017- (Quality of Acceptance Certificate by the Champion Home Builders). With just one owner, this well maintained home has 3 spacious bdrms, 2 full bath. The kitchen is the highlight of the home with a island to prep your food and a Open Concept to entertain your guest. The Master bdrm has a walk in closet, vinyl flooring, wall side windows, C/A, security doors, laundry area and a large shed that goes with the house. Plenty of room on the exterior for family cook outs. All appliances remain with the house except for the dryer. All measurements are estimated. The Dryer is excluded from the sale. The Association fee ($776) is the Lot fee which includes water. Buyer must be approved by the Community after an accepted offer from the Seller. Appts are Wed through Sat. 11:00-7:00 pm only. .. . so that means no Showings on Sun, Mon or Tues.

Key facts

• Vinyl flooring
• Laundry area
• Security doors

Tags

• ISLAND TO PREP FOOD
• OPEN CONCEPT TO ENTERTAIN
• WALK IN CLOSET
• VINYL FLOORING
• SECURITY DOORS
• LAUNDRY AREA

Property features AI

Finance

• Other: Property listed by National Realty Centers, Inc.
• HOA & community: Homeowners association with monthly fee of $776

Exterior

• Parking: No garage; Assigned parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Vinyl siding
• Exterior features: Gravel road access; Lot dimensions approximately 30 x 60 (units listed as acres)

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator
• Bedrooms: Total of 5 rooms (bedroom breakdown not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Ceiling fans; Crawl space basement
• Laundry & utility: Washer included

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 $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $59k).
• Recommended offer: $57k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Ann Arbor Public Schools (urban): math 71% / reading 81% proficiency, ranked #6 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: Rents flat; 228 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).
• This rent runs 30% of the median local income ($116k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $57,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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. 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?
5. 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.
6. 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.
7. 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: 4.97% ✓
• Cap rate: 29.36%
• Cash-on-cash: 82.39%
• DSCR: 4.67
• GRM: 1.7

CMA / ARV

• ARV (median comp): $456,280
• List price: $59,000
• Delta: -87.07%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.12% rent growth · sell at horizon

5-year hold

• IRR: 78.0%
• Equity multiple: 4.33×
• Total profit: $54,935
• Equity at exit: $8,797

10-year hold

• IRR: 80.5%
• Equity multiple: 7.72×
• Total profit: $110,957
• 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 48103

• Rents YoY: 0.1%
• Active inventory: 228
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $2,934 medium
• Mortgage (P&I): −$309
• Tax est. 1.5%: −$74 /mo · $885/yr
• Insurance: −$25
• HOA: −$776
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $1,134

Break-even live

Break-even rent $1,498

Max offer price $59,000

Occupancy floor 56%

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 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2555 Oak Valley Dr Ann Arbor, MI	1.0–2.0	1.5–2.0	1232	$2,810	$2.28	13d	1	1.37mi
3300 Ann Arbor Saline Rd Ann Arbor, MI	1.0–3.0	1.0–2.0	1156	$3,137	$2.71	13d	5	1.40mi
2501 Avant Ave Ann Arbor, MI	1.0–3.0	1.0–2.5	1084	$3,550	$3.27	13d	20	1.49mi
2074 Bent Trail Ct Unit 1 Ann Arbor, MI	2.0	2.0	1200	$2,400	$2.00	43d	1	1.50mi

HOA detail

• Monthly dues: $776 · $9,312/yr
• Likely covers: watersecurity

Listing history 16 events

1. 2026-06-18
   days on market $59,000 Active 35 DOM
2. 2026-06-17
   days on market $59,000 Active 34 DOM
3. 2026-06-16
   pricedays on market $59,000 Active 33 DOM

   Show marketing remark (1136 chars)

   Welcome to this highly desirable Orchard Grove Manufactured Home Community. .. . where the residents make a great effort in maintaining their properties. Conveniently located near shopping and dining areas , and of course the great Ann Arbor School district. This house was manufactured in 2017- (Quality of Acceptance Certificate by the Champion Home Builders). With just one owner, this well maintained home has 3 spacious bdrms, 2 full bath. The kitchen is the highlight of the home with a island to prep your food and a Open Concept to entertain your guest. The Master bdrm has a walk in closet, vinyl flooring, wall side windows, C/A, security doors, laundry area and a large shed that goes with the house. Plenty of room on the exterior for family cook outs. All appliances remain with the house except for the dryer. All measurements are estimated. The Dryer is excluded from the sale. The Association fee ($776) is the Lot fee which includes water. Buyer must be approved by the Community after an accepted offer from the Seller. Appts are Wed through Sat. 11:00-7:00 pm only. .. . so that means no Showings on Sun, Mon or Tues.

4. 2026-06-15
   days on market $63,500 Active 32 DOM
5. 2026-06-14
   days on market $63,500 Active 30 DOM
6. 2026-06-10
   days on market $63,500 Active 27 DOM
7. 2026-06-09
   days on market $63,500 Active 26 DOM
8. 2026-06-08
   days on market $63,500 Active 25 DOM
9. 2026-06-07
   pricedays on market $63,500 Active 24 DOM

   Show marketing remark (1136 chars)

   Welcome to this highly desirable Orchard Grove Manufactured Home Community. .. . where the residents make a great effort in maintaining their properties. Conveniently located near shopping and dining areas , and of course the great Ann Arbor School district. This house was manufactured in 2017- (Quality of Acceptance Certificate by the Champion Home Builders). With just one owner, this well maintained home has 3 spacious bdrms, 2 full bath. The kitchen is the highlight of the home with a island to prep your food and a Open Concept to entertain your guest. The Master bdrm has a walk in closet, vinyl flooring, wall side windows, C/A, security doors, laundry area and a large shed that goes with the house. Plenty of room on the exterior for family cook outs. All appliances remain with the house except for the dryer. All measurements are estimated. The Dryer is excluded from the sale. The Association fee ($776) is the Lot fee which includes water. Buyer must be approved by the Community after an accepted offer from the Seller. Appts are Wed through Sat. 11:00-7:00 pm only. .. . so that means no Showings on Sun, Mon or Tues.

10. 2026-06-03
    days on market $65,000 Active 20 DOM
11. 2026-06-02
    days on market $65,000 Active 19 DOM
12. 2026-06-01
    days on market $65,000 Active 18 DOM
13. 2026-05-31
    days on market $65,000 Active 17 DOM
14. 2026-05-30
    pricedays on market $65,000 Active 16 DOM

    Show marketing remark (1136 chars)

    Welcome to this highly desirable Orchard Grove Manufactured Home Community. .. . where the residents make a great effort in maintaining their properties. Conveniently located near shopping and dining areas , and of course the great Ann Arbor School district. This house was manufactured in 2017- (Quality of Acceptance Certificate by the Champion Home Builders). With just one owner, this well maintained home has 3 spacious bdrms, 2 full bath. The kitchen is the highlight of the home with a island to prep your food and a Open Concept to entertain your guest. The Master bdrm has a walk in closet, vinyl flooring, wall side windows, C/A, security doors, laundry area and a large shed that goes with the house. Plenty of room on the exterior for family cook outs. All appliances remain with the house except for the dryer. All measurements are estimated. The Dryer is excluded from the sale. The Association fee ($776) is the Lot fee which includes water. Buyer must be approved by the Community after an accepted offer from the Seller. Appts are Wed through Sat. 11:00-7:00 pm only. .. . so that means no Showings on Sun, Mon or Tues.

15. 2026-05-14
    listed $69,000 Active 1137-char remark

    Show marketing remark (1136 chars)

    Welcome to this highly desirable Orchard Grove Manufactured Home Community. .. . where the residents make a great effort in maintaining their properties. Conveniently located near shopping and dining areas , and of course the great Ann Arbor School district. This house was manufactured in 2017- (Quality of Acceptance Certificate by the Champion Home Builders). With just one owner, this well maintained home has 3 spacious bdrms, 2 full bath. The kitchen is the highlight of the home with a island to prep your food and a Open Concept to entertain your guest. The Master bdrm has a walk in closet, vinyl flooring, wall side windows, C/A, security doors, laundry area and a large shed that goes with the house. Plenty of room on the exterior for family cook outs. All appliances remain with the house except for the dryer. All measurements are estimated. The Dryer is excluded from the sale. The Association fee ($776) is the Lot fee which includes water. Buyer must be approved by the Community after an accepted offer from the Seller. Appts are Wed through Sat. 11:00-7:00 pm only. .. . so that means no Showings on Sun, Mon or Tues.

16. 2026-05-14
    listed $69,000 Active 1136-char remark

    Show marketing remark (1136 chars)

    Welcome to this highly desirable Orchard Grove Manufactured Home Community. .. . where the residents make a great effort in maintaining their properties. Conveniently located near shopping and dining areas , and of course the great Ann Arbor School district. This house was manufactured in 2017- (Quality of Acceptance Certificate by the Champion Home Builders). With just one owner, this well maintained home has 3 spacious bdrms, 2 full bath. The kitchen is the highlight of the home with a island to prep your food and a Open Concept to entertain your guest. The Master bdrm has a walk in closet, vinyl flooring, wall side windows, C/A, security doors, laundry area and a large shed that goes with the house. Plenty of room on the exterior for family cook outs. All appliances remain with the house except for the dryer. All measurements are estimated. The Dryer is excluded from the sale. The Association fee ($776) is the Lot fee which includes water. Buyer must be approved by the Community after an accepted offer from the Seller. Appts are Wed through Sat. 11:00-7:00 pm only. .. . so that means no Showings on Sun, Mon or Tues.

ⓘ 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 3/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,209
• − Mortgage interest: −$3,305
• − Property taxes: −$885
• − Insurance: −$295
• − Repairs & maintenance: −$2,817
• − Management: −$2,817
• − HOA: −$9,312
• − Depreciation: −$1,716
• Taxable income: $14,063
• Est. tax owed @ 24.0%: −$3,375
• After-tax cash flow: $10,236/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained mobile home in Orchard Grove is in good condition with a good condition score of 80. It has a good rehab level of 'cosmetic' and requires minimal repairs. The home has a good resale and rental value and can be improved with some updates to the interior and exterior.

Value-add opportunities

• Both Paint the interior walls and trim for a fresh look. — Fresh paint can improve the overall appearance and value of the home.
• Resale Replace the kitchen faucet for a more modern look. — A new faucet can enhance the kitchen's appeal and functionality.
• Both Install new flooring in the bathrooms for a more modern and durable look. — New flooring can improve the appearance and functionality of the bathrooms, benefiting both resale and rental value.
• Both Upgrade the kitchen appliances to modern models. — Modern appliances can improve the kitchen's functionality and appeal, benefiting both resale and rental value.
• Both Add a small outdoor seating area to the front porch. — An outdoor seating area can enhance the home's curb appeal and provide a comfortable space for relaxation, benefiting both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the interior walls and trim for a fresh look. — Fresh paint can improve the overall appearance and value of the home. ↑
• Resale Replace the kitchen faucet for a more modern look. — A new faucet can enhance the kitchen's appeal and functionality. ↑
• Both Install new flooring in the bathrooms for a more modern and durable look. — New flooring can improve the appearance and functionality of the bathrooms, benefiting both resale and rental value. ↑
• Both Upgrade the kitchen appliances to modern models. — Modern appliances can improve the kitchen's functionality and appeal, benefiting both resale and rental value. ↑
• Both Add a small outdoor seating area to the front porch. — An outdoor seating area can enhance the home's curb appeal and provide a comfortable space for relaxation, benefiting both resale and rental value. ↑

ⓘ 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: Ann Arbor Public Schools
• NCES district ID: 2602820
• Math proficiency: 71% ▲ 5.00%
• Reading proficiency: 81% ▲ 11.00%
• Median HH income: $60,768
• Composite: 65.34/100
• National rank: #487
• State rank: #6 of 540 in MI

Livability — Lodi

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

Census & demographics

• County: Washtenaw County · 306,860 people
• Metro: Ann Arbor, MI
• Population (ZIP): 55,054
• Household income: $116,194
• Rent vs Own: 33.5% rent · 66.5% own
• Severe rent burden: 2033.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Asian 10% Two or more races 9% Hispanic / Latino 6% Black 6%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 6% Slovak 3% Iranian 3%
• Foreign-born: 13% · Canada, China, South Korea
• Languages at home: 83% English-only · Spanish 4% Chinese 3% Other Indo-European 2%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -472.49%
• Current HPI: 244.6891
• Rent YoY: ▲ 0.12%
• Metro: Ann Arbor, MI
• 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

-14.5% since first listed

8 events — show timeline

• 2026-06-16 Price Changed $59,000 MiRealSource-MiMLS
• 2026-06-16 Price Changed $59,000 REALCOMP
• 2026-06-07 Price Changed $63,500 MiRealSource-MiMLS
• 2026-06-07 Price Changed $63,500 REALCOMP
• 2026-05-30 Price Changed $65,000 MiRealSource-MiMLS
• 2026-05-29 Price Changed $65,000 REALCOMP
• 2026-05-14 Listed $69,000 REALCOMP
• 2026-05-14 Listed $69,000 MiRealSource-MiMLS