4570 Shiwassee NW #158 · Walker, MI 49534

$61,600

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 28 Days on market

Manufactured home Built 2025 Fair condition $51/sqft · 20% below area Est $77k · 20% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.5/5.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Appreciation +2.5/10.0
• Condition / age +2.2/5.0
• Manufactured-home adj. -6.6

Key facts

• Built 2025
• Listed 27 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $62k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $633 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $61k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 4.0% in Walker — 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 74/100 on livability (#188 in MI, #4,765 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, health & safety F.
• Kenowa Hills Public Schools (suburban): math 33% / reading 46% proficiency, ranked #205 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kenowa Hills Middle School (math 28% / reading 44%, grade F, #269 of 493 statewide, top 56%, 623 students, 54% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 154 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $426 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Recommended offer $60,676 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.18% ✓
• Cap rate: 18.63%
• Cash-on-cash: 44.07%
• DSCR: 2.96
• GRM: 3.8

CMA / ARV

• ARV (median comp): $77,183
• List price: $61,600
• Delta: -20.19%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1123 Marvin Ct NW Lot 46	0.21mi	3/2.0	1,216 (0%)	4mo	$75,000	$62	87
4676 Gardens Blvd NW	0.17mi	3/2.0	1,210 (-0%)	9mo	$58,000	$48	84
4598 Gardens Blvd NW	0.11mi	3/2.0	1,293 (+6%)	8mo	$94,900	$73	77
1111 Marvin Ct NW	0.19mi	3/2.0	1,216 (0%)	18mo	$82,500	$68	76
135 Shapell Ln NW	0.44mi	3/2.0	1,371 (+13%)	10mo	$90,000	$66	50

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 · 7.87% rent growth · sell at horizon

5-year hold

• IRR: 46.5%
• Equity multiple: 3.16×
• Total profit: $37,273
• Equity at exit: $9,185

10-year hold

• IRR: 54.3%
• Equity multiple: 7.71×
• Total profit: $115,768
• Equity at exit: $5,326

Cash invested: $17,248 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 3 under contract
• Months of supply: 26.0 mo (4%/mo absorbed)
• Median asking: $61,600 ($56/sqft)
• Median days on market: 42 d
• This list price: 38% of active listings are priced below it
• ARV vs active asking: +14.0% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 49534

• Home prices YoY: -28.4%
• Rents YoY: 7.9%
• Active inventory: 154
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,341 medium
• Mortgage (P&I): −$323
• Tax est. 1.5%: −$77 /mo · $924/yr
• Insurance: −$26
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $633

Break-even live

Break-even rent $539

Max offer price $61,600

Occupancy floor 48%

Sensitivity live

Price	-10% $676	-5% $655	+0% $633	+5% $612	+10% $591
Rent	-10% $527	-5% $580	+0% $633	+5% $686	+10% $739
Rate	-1.0pp $664	-0.5pp $649	base $633	+0.5pp $617	+1.0pp $601

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: $15,400
• Closing costs: $1,848
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11139 Mountain Ash Ave NW Grand Rapids, MI	2.0	1.5	900	$1,600	$1.78	15d	1	1.05mi
680 Lake Michigan Dr NW Unit O-686 Grand Rapids, MI	2.0	1.0	900	$1,375	$1.53	46d	1	1.26mi
680 Lake Michigan Dr NW Unit O-682 Grand Rapids, MI	2.0	1.0	900	$1,275	$1.42	93d	1	1.26mi
680 Lake Michigan Dr NW Unit O-680 Grand Rapids, MI	2.0	1.0	900	$1,375	$1.53	15d	1	1.26mi

Property features AI

Finance

• Other: Status: Active
• Financial info: List price $61,600

Exterior

• Utilities: Natural gasCentral air conditioning
• Home design: Spec home, plan 94945
• Exterior features: Listed address: 4570 Shiwassee NW #158, Walker, MI 49534

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heatingCentral air conditioning
• Interior features: Open living area (1,216 total living area)

Listing history 18 events

1. 2026-08-06
   days on market $61,600 Active 28 DOM
2. 2026-08-05
   days on market $61,600 Active 27 DOM
3. 2026-07-06
   days on market $61,600 Active 25 DOM
4. 2026-07-05
   days on market $61,600 Active 24 DOM
5. 2026-07-03
   days on market $61,600 Active 22 DOM
6. 2026-07-02
   days on market $61,600 Active 21 DOM
7. 2026-07-01
   days on market $61,600 Active 20 DOM
8. 2026-06-30
   days on market $61,600 Active 19 DOM
9. 2026-06-29
   days on market $61,600 Active 18 DOM
10. 2026-06-28
    days on market $61,600 Active 17 DOM
11. 2026-06-28
    days on market $61,600 Active 16 DOM
12. 2026-06-27
    days on market $61,600 Active 15 DOM
13. 2026-06-25
    days on market $61,600 Active 13 DOM
14. 2026-06-23
    days on market $61,600 Active 11 DOM
15. 2026-06-21
    days on market $61,600 Active 10 DOM
16. 2026-06-18
    days on market $61,600 Active 7 DOM
17. 2026-06-17
    days on market $61,600 Active 6 DOM
18. 2026-06-16
    listed $61,600 Active 5 DOM

ⓘ 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: $16,088
• − Mortgage interest: −$3,451
• − Property taxes: −$924
• − Insurance: −$308
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$1,792
• Taxable income: $7,039
• Est. tax owed @ 24.0%: −$1,689
• After-tax cash flow: $5,912/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 · 2 photos

Fair 45/100 Cosmetic rehab Est. rehab $6,080–$18,240 screening

This manufactured home is in good condition with a fresh exterior and well-maintained interior. A fresh coat of paint and HVAC maintenance would significantly enhance its curb appeal and value.

Value-add opportunities

• Both Paint the exterior — Fresh paint enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean and maintain the HVAC system — A clean and well-maintained HVAC system improves comfort and energy efficiency, attracting more renters and buyers. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 40/100

Zoned Schools

Elementary Zinser Elementary School D- MI #433/1,397 Nat'l #14,504/41,679 Middle Kenowa Hills Middle School F MI #269/493 Nat'l #7,206/14,009 High Kenowa Hills High School F MI #334/713 Nat'l #9,001/17,239

Schools (NCES district)

• District: Kenowa Hills Public Schools
• NCES district ID: 2620280
• Math proficiency: 33% ▬ 0.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,387
• Composite: 34.36/100
• National rank: #5221
• State rank: #205 of 540 in MI

B Composite livability gradescore 74/100

Livability — Walker

• Score: 74/100
• State rank: #188
• US rank: #4765

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walker, MI
• County: Kent County · 712,484 people
• City population: 33,350
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 23,719
• Household income: $81,657
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 6% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Iranian 20% Romanian 12% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Tagalog/Filipino 1%

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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: ▼ -107.59%
• Current HPI: 270.866
• Rent YoY: ▲ 7.87%
• Metro: Grand Rapids-Kentwood, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

Property features AI

Finance

• Other: Status: Active
• Financial info: List price $61,600

Exterior

• Utilities: Natural gasCentral air conditioning
• Home design: Spec home, plan 94945
• Exterior features: Listed address: 4570 Shiwassee NW #158, Walker, MI 49534

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heatingCentral air conditioning
• Interior features: Open living area (1,216 total living area)