1681 Sycamore Dr · North Muskegon, MI 49445

$109,900

3 bd · 1.0 ba · 1,820 sqft · Manufactured public records · 10 Days on market

Built 1991 $60/sqft · 60% above area $610/mo HOA · 31% of rent

---

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 +22.8/30.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• Livability +3.9/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to 1681 Sycamore Dr, Muskegon, MI, a well-maintained 1991 manufactured home located in the desirable Park Meadows Mobile Home Community. This spacious home features 3 large bedrooms and 2 full bathrooms, along with vaulted ceilings throughout that create an open and airy feel. Enjoy multiple living spaces with two large living rooms, perfect for relaxing or entertaining. Step outside to a wrap-around deck, screened-in porch, and a covered ramped entrance, offering both comfort and accessibility. A garage located behind the home provides ample storage for vehicles, tools, or hobbies. Conveniently situated just minutes from shopping, restaurants, and local amenities, this home offers both space and location--schedule your showing today!

Key facts

• Garage
• Built 1991
• Listed 10 days

Property features AI

Finance

• Other: Living area approximately 1,820
• HOA & community: Monthly association fee; Association fee: $610 monthly; Community amenities include fitness center, meeting room, playground, storage, and pets allowed

Exterior

• Parking: 1 garage space; Carport; Garage is not attached
• Utilities: Public water; Natural gas connected
• Home design: Ranch-style single-family residence; Built in 1991
• Construction: Vinyl siding; Composition roof; Crawl space foundation
• Exterior features: Paved road access; Leased land

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling; Natural gas connected
• Interior features: Eat-in kitchen; Ramped entrance; 36-inch entrance door; Crawl space basement; 9 total rooms
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 8.4% vs local median 4.1% in North Muskegon — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#129 in MI, #3,195 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Reeths-Puffer Schools (suburban): math 28% / reading 44% proficiency, ranked #254 of 540 in MI (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 438 units permitted in Muskegon County in 2024 (115 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($760 loan paydown + $11k appreciation (10.0% local appreciation)).
• Muskegon County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $109,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.80% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• GRM: 4.6

CMA / ARV

• ARV (median comp): $68,609
• List price: $109,900
• Delta: 60.18%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1661 Sycamore Dr	0.02mi	3/2.0	1,680 (-8%)	11mo	$79,900	$48	73
102 Apple Ct	0.15mi	3/2.0	1,620 (-11%)	6mo	$73,000	$45	66
185 Elm Ct	0.18mi	3/2.5	1,616 (-11%)	15mo	$75,000	$46	54

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.8%
• Equity multiple: 3.35×
• Total profit: $72,408
• Equity at exit: $99,007

10-year hold

• IRR: 26.0%
• Equity multiple: 7.65×
• Total profit: $204,482
• Equity at exit: $213,512

Cash invested: $30,772 (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 49445

• Home prices YoY: 7.2%
• Active inventory: 142
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,975 medium
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$610
• Vacancy / Maint / Mgmt: −$415
• Net cashflow: $191

Break-even live

Break-even rent $1,734

Max offer price $109,900

Occupancy floor 85%

Sensitivity live

Price	-10% $267	-5% $229	+0% $191	+5% $153	+10% $115
Rent	-10% $35	-5% $113	+0% $191	+5% $269	+10% $347
Rate	-1.0pp $246	-0.5pp $219	base $191	+0.5pp $162	+1.0pp $133

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1990 Pappas Rd Muskegon, MI	3.0	2.0	1468	$1,975	$1.35	22d	1	1.39mi

HOA detail

• Monthly dues: $610 · $7,320/yr

Listing history 6 events

1. 2026-05-10
   status Pending 752-char remark

   Show marketing remark (752 chars)

   Welcome to 1681 Sycamore Dr, Muskegon, MI, a well-maintained 1991 manufactured home located in the desirable Park Meadows Mobile Home Community. This spacious home features 3 large bedrooms and 2 full bathrooms, along with vaulted ceilings throughout that create an open and airy feel. Enjoy multiple living spaces with two large living rooms, perfect for relaxing or entertaining. Step outside to a wrap-around deck, screened-in porch, and a covered ramped entrance, offering both comfort and accessibility. A garage located behind the home provides ample storage for vehicles, tools, or hobbies. Conveniently situated just minutes from shopping, restaurants, and local amenities, this home offers both space and location--schedule your showing today!

2. 2026-05-10
   status Pending 752-char remark

   Show marketing remark (752 chars)

   Welcome to 1681 Sycamore Dr, Muskegon, MI, a well-maintained 1991 manufactured home located in the desirable Park Meadows Mobile Home Community. This spacious home features 3 large bedrooms and 2 full bathrooms, along with vaulted ceilings throughout that create an open and airy feel. Enjoy multiple living spaces with two large living rooms, perfect for relaxing or entertaining. Step outside to a wrap-around deck, screened-in porch, and a covered ramped entrance, offering both comfort and accessibility. A garage located behind the home provides ample storage for vehicles, tools, or hobbies. Conveniently situated just minutes from shopping, restaurants, and local amenities, this home offers both space and location--schedule your showing today!

3. 2026-05-10
   status Pending

   Show marketing remark (752 chars)

   Welcome to 1681 Sycamore Dr, Muskegon, MI, a well-maintained 1991 manufactured home located in the desirable Park Meadows Mobile Home Community. This spacious home features 3 large bedrooms and 2 full bathrooms, along with vaulted ceilings throughout that create an open and airy feel. Enjoy multiple living spaces with two large living rooms, perfect for relaxing or entertaining. Step outside to a wrap-around deck, screened-in porch, and a covered ramped entrance, offering both comfort and accessibility. A garage located behind the home provides ample storage for vehicles, tools, or hobbies. Conveniently situated just minutes from shopping, restaurants, and local amenities, this home offers both space and location--schedule your showing today!

4. 2026-04-30
   listed $109,900 Active 752-char remark

   Show marketing remark (752 chars)

   Welcome to 1681 Sycamore Dr, Muskegon, MI, a well-maintained 1991 manufactured home located in the desirable Park Meadows Mobile Home Community. This spacious home features 3 large bedrooms and 2 full bathrooms, along with vaulted ceilings throughout that create an open and airy feel. Enjoy multiple living spaces with two large living rooms, perfect for relaxing or entertaining. Step outside to a wrap-around deck, screened-in porch, and a covered ramped entrance, offering both comfort and accessibility. A garage located behind the home provides ample storage for vehicles, tools, or hobbies. Conveniently situated just minutes from shopping, restaurants, and local amenities, this home offers both space and location--schedule your showing today!

5. 2026-04-30
   listed $109,900 Active 752-char remark

   Show marketing remark (752 chars)

   Welcome to 1681 Sycamore Dr, Muskegon, MI, a well-maintained 1991 manufactured home located in the desirable Park Meadows Mobile Home Community. This spacious home features 3 large bedrooms and 2 full bathrooms, along with vaulted ceilings throughout that create an open and airy feel. Enjoy multiple living spaces with two large living rooms, perfect for relaxing or entertaining. Step outside to a wrap-around deck, screened-in porch, and a covered ramped entrance, offering both comfort and accessibility. A garage located behind the home provides ample storage for vehicles, tools, or hobbies. Conveniently situated just minutes from shopping, restaurants, and local amenities, this home offers both space and location--schedule your showing today!

6. 2026-04-30
   listed $109,900 Active

   Show marketing remark (752 chars)

   Welcome to 1681 Sycamore Dr, Muskegon, MI, a well-maintained 1991 manufactured home located in the desirable Park Meadows Mobile Home Community. This spacious home features 3 large bedrooms and 2 full bathrooms, along with vaulted ceilings throughout that create an open and airy feel. Enjoy multiple living spaces with two large living rooms, perfect for relaxing or entertaining. Step outside to a wrap-around deck, screened-in porch, and a covered ramped entrance, offering both comfort and accessibility. A garage located behind the home provides ample storage for vehicles, tools, or hobbies. Conveniently situated just minutes from shopping, restaurants, and local amenities, this home offers both space and location--schedule your showing today!

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

Taxation est. · year 1

• Rental income: $23,700
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,896
• − Management: −$1,896
• − HOA: −$7,320
• − Depreciation: −$3,197
• Taxable income: $1,037
• Est. tax owed @ 24.0%: −$249
• After-tax cash flow: $2,040/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: Reeths-Puffer Schools
• NCES district ID: 2629540
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -4.00%
• Median HH income: $55,223
• Composite: 31.62/100
• National rank: #5942
• State rank: #254 of 540 in MI

Livability — North Muskegon

• Score: 77/100
• State rank: #129
• US rank: #3195

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 21,090

Population outlook (Muskegon County) Hauer SSP2

• Today (2025): 174,032 people
• By 2030: 173,365 · -0.4%
• By 2040: 168,877 · -3.0%
• By 2050: 160,306 · -7.9%
• By 2075: 134,426 · -22.8%
• By 2100: 98,836 · -43.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 8% Hispanic / Latino 6% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 10% Romanian 4% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Muskegon

• 2024 margin: Toss-up / Even · D 48.4% · R 50.2% · Other 1.5%
• 2008→2024 swing: -31.1pp toward R · 2008: 29.3pp · 2024: -1.8pp
• All cycles: 2024: R+1.8 2020: D+0.6 2016: D+0.9 2012: D+17.8 2008: D+29.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 40.82%
• Current HPI: 605.31
• 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

6 events — show timeline

• 2026-05-10 Pending — MiRealSource-MiMLS
• 2026-05-10 Pending — REALCOMP
• 2026-05-10 Pending — SW Michigan MLS
• 2026-04-30 Listed $109,900 SW Michigan MLS
• 2026-04-30 Listed $109,900 REALCOMP
• 2026-04-30 Listed $109,900 MiRealSource-MiMLS

Property tax history

+3.8%/yr

Latest (2025): $158 · +2.1% YoY. Source: county tax records.