360 E Tuttle Rd #217 · Ionia, MI 48846

$65,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 74 Days on market

Built 2018 Fair condition $53/sqft · 32% above area Est $49k · 32% over

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Why this score? — see what drove the C+ 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
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome thhis beautifully maintained home which offers a spacious, open-concept layout perfect for entertaining or quiet evenings in. Situated in the Canterbury Estates, you'll enjoy a neighborhood atmosphere with all the perks of a professionally managed community. Possession to be 60 days after close of escrow. This home is located in a mobile home park. Lot rent is $625., water/sewer $46., Trash $7, School tax $3 and tech ammenity $60. which includes internet. Buyer is responsible for all State Sales Tax and Title Transfer Fees at close. Buyer and Buyers Agent to verify all information. Buyer to complete an application with Canterbury Estates please call them at [phone], or email [email protected] Sale is Contingent on park approval of application for buyer. TV Mounts, Security Cameras, Curtains, Butcher Block Island and Freezer are Reserved so NOT included in sale.

Key facts

• Built 2018
• Listed 74 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $680 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.8% vs local median 3.9% in Ionia — 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 71/100 on livability (#276 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Ionia Public Schools (town): math 23% / reading 39% proficiency, ranked #353 of 540 in MI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 94 units permitted in Ionia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ionia County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($61k) 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 $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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.
7. 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.
8. 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: 2.20% ✓
• Cap rate: 18.84%
• Cash-on-cash: 44.82%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

• ARV (median comp): $49,269
• List price: $65,000
• Delta: 31.93%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
360 E Tuttle Rd #82	0.08mi	3/2.0	1,170 (-4%)	5mo	$38,000	$32	86
360 E Tuttle Rd #8	0.08mi	3/2.0	1,242 (+2%)	11mo	$54,900	$44	84
99 Aldon Ln	0.57mi	3/2.0	1,152 (-5%)	10mo	$143,500	$125	56

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: 41.9%
• Equity multiple: 2.80×
• Total profit: $32,780
• Equity at exit: $9,692

10-year hold

• IRR: 48.0%
• Equity multiple: 5.64×
• Total profit: $84,376
• Equity at exit: $5,620

Cash invested: $18,200 (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 48846

• Active inventory: 87
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,429 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $680

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 47%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
360 E Tuttle Rd Ionia, MI	3.0	2.0	1312	$1,429	$1.09	2d	1	0.06mi

Listing history 18 events

1. 2026-06-18
   days on market $65,000 Active 74 DOM
2. 2026-06-17
   days on market $65,000 Active 73 DOM
3. 2026-06-16
   days on market $65,000 Active 72 DOM
4. 2026-06-15
   days on market $65,000 Active 71 DOM
5. 2026-06-14
   days on market $65,000 Active 69 DOM
6. 2026-06-13
   days on market $65,000 Active 68 DOM
7. 2026-06-10
   days on market $65,000 Active 66 DOM
8. 2026-06-09
   days on market $65,000 Active 65 DOM
9. 2026-06-08
   days on market $65,000 Active 64 DOM
10. 2026-06-07
    days on market $65,000 Active 63 DOM
11. 2026-06-05
    days on market $65,000 Active 60 DOM
12. 2026-06-03
    days on market $65,000 Active 59 DOM
13. 2026-06-03
    days on market $65,000 Active 58 DOM
14. 2026-06-01
    days on market $65,000 Active 57 DOM
15. 2026-05-31
    days on market $65,000 Active 56 DOM
16. 2026-04-05
    listed $65,000 Active 896-char remark

    Show marketing remark (897 chars)

    Welcome thhis beautifully maintained home which offers a spacious, open-concept layout perfect for entertaining or quiet evenings in. Situated in the Canterbury Estates, you'll enjoy a neighborhood atmosphere with all the perks of a professionally managed community. Possession to be 60 days after close of escrow. This home is located in a mobile home park. Lot rent is $625., water/sewer $46., Trash $7, School tax $3 and tech ammenity $60. which includes internet. Buyer is responsible for all State Sales Tax and Title Transfer Fees at close. Buyer and Buyers Agent to verify all information. Buyer to complete an application with Canterbury Estates please call them at [phone], or email [email protected] Sale is Contingent on park approval of application for buyer. TV Mounts, Security Cameras, Curtains, Butcher Block Island and Freezer are Reserved so NOT included in sale.

17. 2026-04-05
    listed $65,000 Active 897-char remark

    Show marketing remark (897 chars)

    Welcome thhis beautifully maintained home which offers a spacious, open-concept layout perfect for entertaining or quiet evenings in. Situated in the Canterbury Estates, you'll enjoy a neighborhood atmosphere with all the perks of a professionally managed community. Possession to be 60 days after close of escrow. This home is located in a mobile home park. Lot rent is $625., water/sewer $46., Trash $7, School tax $3 and tech ammenity $60. which includes internet. Buyer is responsible for all State Sales Tax and Title Transfer Fees at close. Buyer and Buyers Agent to verify all information. Buyer to complete an application with Canterbury Estates please call them at [phone], or email [email protected] Sale is Contingent on park approval of application for buyer. TV Mounts, Security Cameras, Curtains, Butcher Block Island and Freezer are Reserved so NOT included in sale.

18. 2026-04-05
    listed $65,000 Active

    Show marketing remark (897 chars)

    Welcome thhis beautifully maintained home which offers a spacious, open-concept layout perfect for entertaining or quiet evenings in. Situated in the Canterbury Estates, you'll enjoy a neighborhood atmosphere with all the perks of a professionally managed community. Possession to be 60 days after close of escrow. This home is located in a mobile home park. Lot rent is $625., water/sewer $46., Trash $7, School tax $3 and tech ammenity $60. which includes internet. Buyer is responsible for all State Sales Tax and Title Transfer Fees at close. Buyer and Buyers Agent to verify all information. Buyer to complete an application with Canterbury Estates please call them at [phone], or email [email protected] Sale is Contingent on park approval of application for buyer. TV Mounts, Security Cameras, Curtains, Butcher Block Island and Freezer are Reserved so NOT included in sale.

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 16 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: $17,148
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − Depreciation: −$1,891
• Taxable income: $7,572
• Est. tax owed @ 24.0%: −$1,817
• After-tax cash flow: $6,339/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

Fair 45/100 Cosmetic rehab

This mobile home is in fair condition with minor repairs and maintenance needed. It offers a spacious, open-concept layout and is located in a professionally managed community.

Repairs flagged

• Minor Paint touch-ups — Paint appears faded in some areas
• Minor Flooring cleaning — Tile flooring in kitchen and living areas
• Minor Appliance cleaning — Standard appliances, some clutter

Value-add opportunities

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics
• Both Flooring cleaning — Enhances cleanliness and appearance
• Both Appliance cleaning — Enhances cleanliness and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint touch-ups · Paint appears faded in some areas	Minor	$500–3,000
Flooring cleaning · Tile flooring in kitchen and living areas	Minor	$500–3,000
Appliance cleaning · Standard appliances, some clutter	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both Paint touch-ups — Enhances curb appeal and interior aesthetics ↑
• Both Flooring cleaning — Enhances cleanliness and appearance ↑
• Both Appliance cleaning — Enhances cleanliness and appearance ↑

ⓘ 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: Ionia Public Schools
• NCES district ID: 2619250
• Math proficiency: 23% ▼ -11.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $41,130
• Composite: 26.12/100
• National rank: #7283
• State rank: #353 of 540 in MI

Livability — Ionia

• Score: 71/100
• State rank: #276
• US rank: #6795

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 21,940
• Population (ZIP): 21,940

Population outlook (Ionia County) Hauer SSP2

• Today (2025): 63,958 people
• By 2030: 63,321 · -1.0%
• By 2040: 61,544 · -3.8%
• By 2050: 58,682 · -8.2%
• By 2075: 48,909 · -23.5%
• By 2100: 35,867 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 10% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Iranian 7% Romanian 3% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Ionia

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -26.0pp toward R · 2008: -5.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+30.3 2016: R+31.0 2012: R+12.8 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.67%
• Current HPI: 247.6648
• 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

3 events — show timeline

• 2026-04-05 Listed $65,000 REALCOMP
• 2026-04-05 Listed $65,000 MiRealSource-MiMLS
• 2026-04-05 Listed $65,000 SW Michigan MLS