315 Linwood Ave · Alma, MI 48801

$33,000

2 bd · 1.0 ba · 840 sqft · SingleFamily · 24 Days on market

Built 1984 Good condition

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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
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this recently updated home located in KC's Alma Mobile Home Community. The kitchen features modern upgrades including luxury vinyl plank flooring, a stylish backsplash, accent wall, and fresh paint. The bathroom has been fully refreshed with tongue and groove wall finishes, a new shower/tub combo, updated toilet, and a new vanity sink. Throughout the home you'll find rustic accent walls and updated trim, window frames, and screens that give the space a warm, modern feel. Outside, enjoy improved landscaping, a newly poured concrete walkway, and new entry stairs. The sale includes most furnishings. Lot rent is $445/month and does not include sewer, water, trash, electricity, or gas

Key facts

• Modern upgrades
• Updated toilet
• Stylish backsplash

Tags

• MODERN UPGRADES
• LUXURY VINYL PLANK FLOORING
• STYLISH BACKSPLASH
• NEW SHOWER TUB COMBO
• UPDATED TOILET
• NEW VANITY SINK

Property features AI

Exterior

• Utilities: Public water; Shared septic
• Home design: Single-family residence; Residential zoning
• Construction: Aluminum siding
• Exterior features: Porch

Interior

• Kitchen: Includes refrigerator, freezer, range, oven, and microwave
• Bathrooms: One full bathroom
• Heating & cooling: Natural gas heating; Wall furnace; No central cooling
• Interior features: Freezer; Microwave; Oven; Refrigerator; Range; Five total rooms

🏷️ Possibly a rental listed for sale. The $33,000 price doesn't fit this home's estimated sale value (~$120,960) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $33k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($872 rent vs $33k).
• Recommended offer: $33k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.1% vs local median 4.2% in Alma — 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 69/100 on livability (#345 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities F, commute F.
• Alma Public Schools (town): math 28% / reading 44% proficiency, ranked #288 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 89 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $228 of loan paydown is wiped out by about $990 of value loss. Plan a longer hold.
• Gratiot County population projected at -14% 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($33k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $32,505 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 2.64% ✓
• Cap rate: 23.06%
• Cash-on-cash: 59.87%
• DSCR: 3.66
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $120,960
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
535 Hayes Ave	0.37mi	2/2.0	850 (+1%)	6mo	$108,000	$127	72
111 Wheeler St	0.50mi	2/1.0	832 (-1%)	8mo	$131,000	$157	68
212 Elmwood Ave	0.14mi	2/1.0	912 (+9%)	14mo	$139,000	$152	67
724 Bridge Ave	0.54mi	3/1.0 (+1)	857 (+2%)	8mo	$70,000	$82	60
720 Pennsylvania Ave	0.37mi	2/1.0	726 (-14%)	9mo	$75,500	$104	53
116 Williamette Ave	0.23mi	3/1.0 (+1)	936 (+11%)	18mo	$135,000	$144	50
112 Windsor St	0.57mi	3/1.0 (+1)	950 (+13%)	5mo	$60,000	$63	42
116 Windsor St	0.57mi	2/1.0	728 (-13%)	11mo	$135,000	$185	42

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: 58.6%
• Equity multiple: 3.60×
• Total profit: $24,028
• Equity at exit: $4,920

10-year hold

• IRR: 63.4%
• Equity multiple: 7.36×
• Total profit: $58,785
• Equity at exit: $2,853

Cash invested: $9,240 (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 48801

• Home prices YoY: -32.0%
• Active inventory: 89
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $872 medium
• Mortgage (P&I): −$173
• Tax est. 1.5%: −$41 /mo · $495/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$183
• Net cashflow: $461

Break-even live

Break-even rent $289

Max offer price $33,000

Occupancy floor 42%

Sensitivity live

Price	-10% $484	-5% $472	+0% $461	+5% $450	+10% $438
Rent	-10% $392	-5% $427	+0% $461	+5% $495	+10% $530
Rate	-1.0pp $478	-0.5pp $469	base $461	+0.5pp $452	+1.0pp $444

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: $8,250
• Closing costs: $990
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 Windsor St Alma, MI	1.0–2.0	1.0	675	$875	$1.30	44d	1	0.63mi
213 W Downie St Unit B Alma, MI	2.0	1.0	580	$800	$1.38	44d	1	1.27mi
307 W Elizabeth St Alma, MI	2.0	1.0	650	$850	$1.31	44d	1	1.46mi
307 W Elizabeth St Unit 307 Alma, MI	2.0	1.0	750	$950	$1.27	44d	1	1.46mi

Listing history 17 events

1. 2026-06-21
   days on market $33,000 Active 24 DOM
2. 2026-06-18
   days on market $33,000 Active 22 DOM
3. 2026-06-17
   days on market $33,000 Active 21 DOM
4. 2026-06-16
   days on market $33,000 Active 20 DOM
5. 2026-06-15
   days on market $33,000 Active 19 DOM
6. 2026-06-13
   days on market $33,000 Active 17 DOM
7. 2026-06-12
   pricedays on market $33,000 Active 16 DOM
8. 2026-06-09
   days on market $39,000 Active 13 DOM
9. 2026-06-08
   days on market $39,000 Active 12 DOM
10. 2026-06-07
    days on market $39,000 Active 11 DOM
11. 2026-06-07
    days on market $39,000 Active 10 DOM
12. 2026-06-04
    days on market $39,000 Active 7 DOM
13. 2026-06-02
    days on market $39,000 Active 6 DOM
14. 2026-06-01
    days on market $39,000 Active 5 DOM
15. 2026-05-31
    days on market $39,000 Active 4 DOM
16. 2026-05-31
    days on market $39,000 Active 3 DOM
17. 2026-05-27
    listed $39,000 Active

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,467
• − Mortgage interest: −$1,849
• − Property taxes: −$495
• − Insurance: −$165
• − Repairs & maintenance: −$837
• − Management: −$837
• − Depreciation: −$960
• Taxable income: $5,324
• Est. tax owed @ 24.0%: −$1,278
• After-tax cash flow: $4,254/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 75/100 Cosmetic rehab

This recently updated mobile home in Alma, MI, offers modern amenities and a good condition, with potential for further improvements to boost its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace carpet with hardwood or tile — Improves durability and aesthetic
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet with hardwood or tile — Improves durability and aesthetic ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ 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: Alma Public Schools
• NCES district ID: 2602640
• Math proficiency: 28% ▼ -9.00%
• Reading proficiency: 44% ▼ -3.00%
• Median HH income: $36,651
• Composite: 29.84/100
• National rank: #6415
• State rank: #288 of 540 in MI

Livability — Alma

• Score: 69/100
• State rank: #345
• US rank: #8809

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alma, MI
• City population: 13,433
• Population (ZIP): 13,433

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 4% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 5% Slovak 3% Iranian 2%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -99.16%
• Current HPI: 210.3208
• 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

1 event — show timeline

• 2026-05-27 Listed $39,000 REALCOMP