1194 W Grey Ct · Yankee Springs, MI 49348

$69,999

3 bd · 2.0 ba · 1,200 sqft · Manufactured · 40 Days on market

Built 1997 Fair condition $58/sqft · 67% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Partially Open Concept 3 Bedroom, 2 Bathroom Double Wide Mobile Home on Large LotWell-maintained, spacious 3 bedroom, 2 bathroom double wide home that offers comfortable living in a welcoming community with outstanding amenities. Situated on a large lot with parking for up to three vehicles, this home provides both space and convenience. Inside, you'll find a generously sized living room ideal for entertaining, relaxing, or spending time with family. The functional floor plan offers comfortable bedrooms, two full bathrooms, and ample living space throughout. Community AmenitiesResidents enjoy access to:Outdoor Swimming PoolSplash PadBasketball CourtPlaygroundAdditional DetailsBreed restrictions Monthly lot rent: $671.83Lot rent includes water, sewer, and trash servicesCash and financing options availableBuyer must receive park approval prior to closingWasher and dryer not included

Key facts

• Open concept
• Large lot
• Splash pad

Tags

• OPEN CONCEPT
• LARGE LOT
• OUTDOOR SWIMMING POOL
• SPLASH PAD
• BASKETBALL COURT
• PLAYGROUND

Property features AI

Exterior

• Utilities: Public water
• Home design: Ranch style; Residential property; Built in 1997
• Construction: Vinyl siding
• Exterior features: Public water

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Total of 9 rooms; Oven; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $68k (3.0% 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.
• Thornapple Kellogg School District (rural): math 40% / reading 51% proficiency, ranked #127 of 540 in MI (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 94 active listings in the ZIP; 171 units permitted in Barry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Barry County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $67,899 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.90% ✓
• Cap rate: 15.98%
• Cash-on-cash: 34.58%
• DSCR: 2.54
• GRM: 4.4

CMA / ARV

• ARV (median comp): $42,000
• List price: $69,999
• Delta: 66.66%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12926 Yost St	0.11mi	3/2.0	1,200 (0%)	2mo	$40,000	$33	93
1391 Shadowridge Dr	0.26mi	3/2.0	1,216 (+1%)	2mo	$42,000	$35	84
12741 S Bernie Ct	0.12mi	3/2.0	1,089 (-9%)	8mo	$67,000	$62	72
1338 Shadow Ridge Dr Lot 205	0.23mi	3/2.0	1,344 (+12%)	14mo	$61,000	$45	58

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: 30.1%
• Equity multiple: 2.26×
• Total profit: $24,650
• Equity at exit: $10,437

10-year hold

• IRR: 37.3%
• Equity multiple: 4.46×
• Total profit: $67,867
• Equity at exit: $6,052

Cash invested: $19,600 (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 49348

• Active inventory: 94
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $565

Break-even live

Break-even rent $612

Max offer price $69,999

Occupancy floor 52%

Sensitivity live

Price	-10% $613	-5% $589	+0% $565	+5% $541	+10% $516
Rent	-10% $460	-5% $512	+0% $565	+5% $617	+10% $670
Rate	-1.0pp $600	-0.5pp $583	base $565	+0.5pp $547	+1.0pp $528

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $69,999 Active 40 DOM
2. 2026-06-17
   days on market $69,999 Active 39 DOM
3. 2026-06-16
   days on market $69,999 Active 38 DOM
4. 2026-06-15
   days on market $69,999 Active 37 DOM
5. 2026-06-14
   days on market $69,999 Active 35 DOM
6. 2026-06-13
   days on market $69,999 Active 34 DOM
7. 2026-06-10
   days on market $69,999 Active 32 DOM
8. 2026-06-09
   days on market $69,999 Active 31 DOM
9. 2026-06-08
   days on market $69,999 Active 30 DOM
10. 2026-06-07
    days on market $69,999 Active 29 DOM
11. 2026-06-03
    days on market $69,999 Active 25 DOM
12. 2026-06-03
    days on market $69,999 Active 24 DOM
13. 2026-06-01
    days on market $69,999 Active 23 DOM
14. 2026-05-31
    days on market $69,999 Active 22 DOM
15. 2026-05-08
    listed $70,000 Active 927-char remark

    Show marketing remark (893 chars)

    Partially Open Concept 3 Bedroom, 2 Bathroom Double Wide Mobile Home on Large LotWell-maintained, spacious 3 bedroom, 2 bathroom double wide home that offers comfortable living in a welcoming community with outstanding amenities. Situated on a large lot with parking for up to three vehicles, this home provides both space and convenience. Inside, you'll find a generously sized living room ideal for entertaining, relaxing, or spending time with family. The functional floor plan offers comfortable bedrooms, two full bathrooms, and ample living space throughout. Community AmenitiesResidents enjoy access to:Outdoor Swimming PoolSplash PadBasketball CourtPlaygroundAdditional DetailsBreed restrictions Monthly lot rent: $671.83Lot rent includes water, sewer, and trash servicesCash and financing options availableBuyer must receive park approval prior to closingWasher and dryer not included

16. 2026-05-08
    listed $70,000 Active 893-char remark

    Show marketing remark (893 chars)

    Partially Open Concept 3 Bedroom, 2 Bathroom Double Wide Mobile Home on Large LotWell-maintained, spacious 3 bedroom, 2 bathroom double wide home that offers comfortable living in a welcoming community with outstanding amenities. Situated on a large lot with parking for up to three vehicles, this home provides both space and convenience. Inside, you'll find a generously sized living room ideal for entertaining, relaxing, or spending time with family. The functional floor plan offers comfortable bedrooms, two full bathrooms, and ample living space throughout. Community AmenitiesResidents enjoy access to:Outdoor Swimming PoolSplash PadBasketball CourtPlaygroundAdditional DetailsBreed restrictions Monthly lot rent: $671.83Lot rent includes water, sewer, and trash servicesCash and financing options availableBuyer must receive park approval prior to closingWasher and dryer not included

17. 2026-05-08
    listed $70,000 Active

    Show marketing remark (893 chars)

    Partially Open Concept 3 Bedroom, 2 Bathroom Double Wide Mobile Home on Large LotWell-maintained, spacious 3 bedroom, 2 bathroom double wide home that offers comfortable living in a welcoming community with outstanding amenities. Situated on a large lot with parking for up to three vehicles, this home provides both space and convenience. Inside, you'll find a generously sized living room ideal for entertaining, relaxing, or spending time with family. The functional floor plan offers comfortable bedrooms, two full bathrooms, and ample living space throughout. Community AmenitiesResidents enjoy access to:Outdoor Swimming PoolSplash PadBasketball CourtPlaygroundAdditional DetailsBreed restrictions Monthly lot rent: $671.83Lot rent includes water, sewer, and trash servicesCash and financing options availableBuyer must receive park approval prior to closingWasher and dryer not included

ⓘ 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: $15,927
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − Depreciation: −$2,036
• Taxable income: $6,022
• Est. tax owed @ 24.0%: −$1,445
• After-tax cash flow: $5,332/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 · 13 photos

Fair 45/100 Cosmetic rehab

This mobile home is in fair condition with some cosmetic updates needed, such as painting and landscaping, to enhance its resale and rental value.

Repairs flagged

• Major Kitchen flooring — The flooring looks worn and may need replacement.
• Major Bathroom flooring — The flooring looks worn and may need replacement.

Value-add opportunities

• Both Painting the interior and exterior — Fresh paint can significantly improve the home's curb appeal and interior aesthetics, enhancing both resale and rental value.
• Both Landscaping improvements — A well-maintained and aesthetically pleasing landscape can increase the home's curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen flooring · The flooring looks worn and may need replacement.	Major	$15,000–50,000
Bathroom flooring · The flooring looks worn and may need replacement.	Major	$15,000–50,000
Total estimated repair cost · 2 items		$30,000–100,000

Value-add ROI direction

• Both Painting the interior and exterior — Fresh paint can significantly improve the home's curb appeal and interior aesthetics, enhancing both resale and rental value. ↑
• Both Landscaping improvements — A well-maintained and aesthetically pleasing landscape can increase the home's curb appeal and attract more potential buyers or renters. ↑

ⓘ 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: Thornapple Kellogg School District
• NCES district ID: 2633810
• Math proficiency: 40% ▼ -5.00%
• Reading proficiency: 51% ▼ -4.00%
• Median HH income: $63,480
• Composite: 40.3/100
• National rank: #3755
• State rank: #127 of 540 in MI

Livability — Yankee Springs

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

Census & demographics

• Population (ZIP): 13,607

Population outlook (Barry County) Hauer SSP2

• Today (2025): 59,601 people
• By 2030: 59,185 · -0.7%
• By 2040: 57,121 · -4.2%
• By 2050: 53,139 · -10.8%
• By 2075: 42,814 · -28.2%
• By 2100: 29,357 · -50.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Hispanic / Latino 5% Black 2% Asian 2%
• Common ancestry: Iranian 24% Romanian 6% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Vietnamese 1%

Political lean MEDSL · Barry

• 2024 margin: Solid R (+34.3) · D 32.1% · R 66.4% · Other 1.5%
• 2008→2024 swing: -24.6pp toward R · 2008: -9.8pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+32.5 2016: R+33.3 2012: R+18.1 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -150.52%
• Current HPI: 251.5261
• 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

• 2026-05-27 Price Changed $69,999 MiRealSource-MiMLS
• 2026-05-27 Price Changed $69,999 REALCOMP
• 2026-05-27 Price Changed $69,999 SW Michigan MLS
• 2026-05-08 Listed $70,000 SW Michigan MLS
• 2026-05-08 Listed $70,000 REALCOMP
• 2026-05-08 Listed $70,000 MiRealSource-MiMLS