12865 Yost St · Yankee Springs, MI 49348

$49,000

3 bd · 2.0 ba · 1,200 sqft · Manufactured · 19 Days on market

Built 1993 Good condition Est $54k · 9% under $700/mo HOA · 53% of rent

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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 +14.4/30.0
• ARV discount +11.7/15.0
• 1% rule +10.0/10.0
• DSCR +4.4/10.0
• Schools +4.0/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Double wide mobile home. 1256 sq ft. Good condition. Roof is 5 years old, working hvac, appliances including(refrigerator, stove, dishwasher, washer and dryer) well spaced rooms, walk in closets in 2 of the 3 rooms. Master bedroom has attached bathroom Ceiling fans in each room and one in living room/ dinning room. Upgraded showers and toilets in both bathrooms. Closet in living room, pantry closet in hall leading to back door which gives access to master bathroom and bedroom. Has sky light in kitchen along with two adjustable hang lights which have there own on/off switch. Has a nice shed 12x10ft added framing to the inside of shed. Has a garden area on east side of the home. Yard stays ve

Key facts

• Fully renovated
• Extra parking space
• Tall ceilings

Tags

• FULLY RENOVATED
• TALL CEILINGS
• SKYLIGHTS
• OPEN-CONCEPT LAYOUT
• EXTRA PARKING SPACE
• TWO STORAGE SHEDS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $49k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $10 ($119/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $48k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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 $339 of loan paydown is wiped out by about $1k 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.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($48k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 53% of rent.

Recommended offer $48,265 (1.5% below list)

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. 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: 2.71% ✓
• Cap rate: 6.54%
• Cash-on-cash: 0.87%
• DSCR: 1.04
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $54,000
• Comps found: 4

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	0.25mi	3/2.0	1,216 (+1%)	2mo	$42,000	$35	85
12741 S Bernie Ct	0.12mi	3/2.0	1,089 (-9%)	8mo	$67,000	$62	72
1338 Shadow Ridge Dr Lot 205	0.22mi	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: -13.8%
• Equity multiple: 0.50×
• Total profit: $-6,858
• Equity at exit: $7,306

10-year hold

• IRR: -3.5%
• Equity multiple: 0.76×
• Total profit: $-3,329
• Equity at exit: $4,237

Cash invested: $13,720 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$257
• Tax est. 1.5%: −$61 /mo · $735/yr
• Insurance: −$20
• HOA: −$700
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $10

Break-even live

Break-even rent $1,315

Max offer price $49,000

Occupancy floor 94%

Sensitivity live

Price	-10% $44	-5% $27	+0% $10	+5% $-7	+10% $-24
Rent	-10% $-95	-5% $-43	+0% $10	+5% $62	+10% $115
Rate	-1.0pp $35	-0.5pp $22	base $10	+0.5pp $-3	+1.0pp $-16

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $700 · $8,400/yr

Listing history 16 events

1. 2026-06-18
   days on market $49,000 Active 19 DOM
2. 2026-06-17
   days on market $49,000 Active 18 DOM
3. 2026-06-16
   days on market $49,000 Active 17 DOM
4. 2026-06-15
   days on market $49,000 Active 16 DOM
5. 2026-06-14
   days on market $49,000 Active 14 DOM
6. 2026-06-13
   days on market $49,000 Active 13 DOM
7. 2026-06-10
   days on market $49,000 Active 11 DOM
8. 2026-06-09
   days on market $49,000 Active 10 DOM
9. 2026-06-08
   days on market $49,000 Active 9 DOM
10. 2026-06-07
    days on market $49,000 Active 8 DOM
11. 2026-06-03
    days on market $49,000 Active 4 DOM
12. 2026-06-03
    days on market $49,000 Active 3 DOM
13. 2026-06-01
    days on market $49,000 Active 2 DOM
14. 2026-05-31
    pricestatuslisting id $49,000 Active 1 DOM
15. 2026-05-13
    status Under Contract
16. 2026-05-12
    listed $40,000 Active

ⓘ 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: −$2,745
• − Property taxes: −$735
• − Insurance: −$245
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − HOA: −$8,400
• − Depreciation: −$1,425
• Taxable loss: −$171
• Est. tax savings @ 24.0%: +$41
• After-tax cash flow: $160/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

Good 75/100 Cosmetic rehab

This double-wide mobile home is in good condition with no major repairs needed. It has a good roof, well-maintained exterior, and good interior walls. Painting the exterior and interior would significantly enhance its curb appeal and property value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and property value
• Both Landscaping — Improves curb appeal and enhances property value
• Both Paint interior walls — Enhances interior appearance and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and property value ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑
• Both Paint interior walls — Enhances interior appearance and property value ↑

ⓘ 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

2 events — show timeline

• 2026-05-13 Pending — FSBO.com
• 2026-05-12 Listed $40,000 FSBO.com