7301 Aster St · Midland, MI 48642

$34,900

2 bd · 1.0 ba · 940 sqft · Other · 28 Days on market

Built 1981 1,875 sqft lot

---

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 +4.9/10.0
• Livability +4.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This newly renovated 2 bedroom/1 bath home is located in Alpine Village manufactured housing community, which is conveniently located near the intersection of Wackerly and Sturgeon. Only 5 minutes to Meijer, Walmart, Home Depot, Midland Mall, many restaurants and 10 minutes to MyMichigan Hospital. Featuring a sunny front living room with a unique high ceiling and three bay windows, this newly renovated manufactured home offers new vinyl windows throughout, new steel doors, luxury vinyl plank flooring throughout, updated cabinets, custom tile countertops, and brand new stainless range and refrigerator. A carport is attached. All buyers must be approved by Alpine Village in order to live there. Homesite rent is approximately $600/month. This is a must see. Only $39,900. This home is owned by Housing Asset Management, a Real Estate Broker in the State of Michigan.

Key facts

• New steel doors
• Eating area
• Luxury vinyl plank

Tags

• SUNNY FRONT LIVING ROOM
• HIGH CEILINGS
• NEW VINYL WINDOWS
• NEW STEEL DOORS
• LUXURY VINYL PLANK
• EATING AREA

Property features AI

Exterior

• Parking: No attached garage; Has carport
• Utilities: Public water; Natural gas water heater
• Home design: Residential property; Other architectural style; Metal roof; Built in 1981
• Construction: Aluminum siding
• Exterior features: Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: Eat-in kitchen; Total of 5 rooms; Fireplaces in the kitchen and primary bedroom; Bay/bow windows with replacement windows, screens, and window treatments
• Laundry & utility: Slab basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $35k.

Deal economics

• At list price, monthly cash flow is $883 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 36.6% vs local median 4.4% in Midland — 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 85/100 on livability (#28 in MI, #578 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Midland Public Schools (urban): math 49% / reading 64% proficiency, ranked #62 of 540 in MI (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 97 active listings in the ZIP; solid renter incomes; 320 units permitted in Midland County in 2024 (204 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Midland County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 0.6% rent growth), your $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $5k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $34,376 (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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 4.08% ✓
• Cap rate: 36.64%
• Cash-on-cash: 108.39%
• DSCR: 5.82
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.6% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.83×
• Total profit: $47,228
• Equity at exit: $5,204

10-year hold

• IRR: —
• Equity multiple: 11.28×
• Total profit: $100,481
• Equity at exit: $3,018

Cash invested: $9,772 (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 48642

• Home prices YoY: -31.4%
• Rents YoY: 0.6%
• Active inventory: 97
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,423 medium
• Mortgage (P&I): −$183
• Tax est. 1.5%: −$44 /mo · $524/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $883

Break-even live

Break-even rent $305

Max offer price $34,900

Occupancy floor 33%

Sensitivity live

Price	-10% $907	-5% $895	+0% $883	+5% $871	+10% $859
Rent	-10% $770	-5% $826	+0% $883	+5% $939	+10% $995
Rate	-1.0pp $900	-0.5pp $892	base $883	+0.5pp $874	+1.0pp $864

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $34,900 Active 28 DOM
2. 2026-06-18
   days on market $34,900 Active 27 DOM
3. 2026-06-17
   days on market $34,900 Active 26 DOM
4. 2026-06-16
   days on market $34,900 Active 25 DOM
5. 2026-06-15
   days on market $34,900 Active 24 DOM
6. 2026-06-14
   days on market $34,900 Active 22 DOM
7. 2026-06-13
   days on market $34,900 Active 21 DOM
8. 2026-06-10
   days on market $34,900 Active 19 DOM
9. 2026-06-09
   days on market $34,900 Active 18 DOM
10. 2026-06-08
    days on market $34,900 Active 17 DOM
11. 2026-06-07
    days on market $34,900 Active 16 DOM
12. 2026-06-02
    days on market $34,900 Active 11 DOM
13. 2026-06-01
    days on market $34,900 Active 10 DOM
14. 2026-05-31
    days on market $34,900 Active 9 DOM
15. 2026-05-30
    pricedays on market $34,900 Active 8 DOM
16. 2026-05-23
    status Active 873-char remark

    Show marketing remark (874 chars)

    This newly renovated 2 bedroom/1 bath home is located in Alpine Village manufactured housing community, which is conveniently located near the intersection of Wackerly and Sturgeon. Only 5 minutes to Meijer, Walmart, Home Depot, Midland Mall, many restaurants and 10 minutes to MyMichigan Hospital. Featuring a sunny front living room with a unique high ceiling and three bay windows, this newly renovated manufactured home offers new vinyl windows throughout, new steel doors, luxury vinyl plank flooring throughout, updated cabinets, custom tile countertops, and brand new stainless range and refrigerator. A carport is attached. All buyers must be approved by Alpine Village in order to live there. Homesite rent is approximately $600/month. This is a must see. Only $39,900. This home is owned by Housing Asset Management, a Real Estate Broker in the State of Michigan.

17. 2026-05-23
    status Active 874-char remark

    Show marketing remark (874 chars)

    This newly renovated 2 bedroom/1 bath home is located in Alpine Village manufactured housing community, which is conveniently located near the intersection of Wackerly and Sturgeon. Only 5 minutes to Meijer, Walmart, Home Depot, Midland Mall, many restaurants and 10 minutes to MyMichigan Hospital. Featuring a sunny front living room with a unique high ceiling and three bay windows, this newly renovated manufactured home offers new vinyl windows throughout, new steel doors, luxury vinyl plank flooring throughout, updated cabinets, custom tile countertops, and brand new stainless range and refrigerator. A carport is attached. All buyers must be approved by Alpine Village in order to live there. Homesite rent is approximately $600/month. This is a must see. Only $39,900. This home is owned by Housing Asset Management, a Real Estate Broker in the State of Michigan.

18. 2026-05-22
    listed $39,900 Active 873-char remark

    Show marketing remark (874 chars)

    This newly renovated 2 bedroom/1 bath home is located in Alpine Village manufactured housing community, which is conveniently located near the intersection of Wackerly and Sturgeon. Only 5 minutes to Meijer, Walmart, Home Depot, Midland Mall, many restaurants and 10 minutes to MyMichigan Hospital. Featuring a sunny front living room with a unique high ceiling and three bay windows, this newly renovated manufactured home offers new vinyl windows throughout, new steel doors, luxury vinyl plank flooring throughout, updated cabinets, custom tile countertops, and brand new stainless range and refrigerator. A carport is attached. All buyers must be approved by Alpine Village in order to live there. Homesite rent is approximately $600/month. This is a must see. Only $39,900. This home is owned by Housing Asset Management, a Real Estate Broker in the State of Michigan.

19. 2026-05-22
    historical 873-char remark

    Show marketing remark (874 chars)

    This newly renovated 2 bedroom/1 bath home is located in Alpine Village manufactured housing community, which is conveniently located near the intersection of Wackerly and Sturgeon. Only 5 minutes to Meijer, Walmart, Home Depot, Midland Mall, many restaurants and 10 minutes to MyMichigan Hospital. Featuring a sunny front living room with a unique high ceiling and three bay windows, this newly renovated manufactured home offers new vinyl windows throughout, new steel doors, luxury vinyl plank flooring throughout, updated cabinets, custom tile countertops, and brand new stainless range and refrigerator. A carport is attached. All buyers must be approved by Alpine Village in order to live there. Homesite rent is approximately $600/month. This is a must see. Only $39,900. This home is owned by Housing Asset Management, a Real Estate Broker in the State of Michigan.

20. 2026-05-22
    listed $39,900 Active 874-char remark

    Show marketing remark (874 chars)

    This newly renovated 2 bedroom/1 bath home is located in Alpine Village manufactured housing community, which is conveniently located near the intersection of Wackerly and Sturgeon. Only 5 minutes to Meijer, Walmart, Home Depot, Midland Mall, many restaurants and 10 minutes to MyMichigan Hospital. Featuring a sunny front living room with a unique high ceiling and three bay windows, this newly renovated manufactured home offers new vinyl windows throughout, new steel doors, luxury vinyl plank flooring throughout, updated cabinets, custom tile countertops, and brand new stainless range and refrigerator. A carport is attached. All buyers must be approved by Alpine Village in order to live there. Homesite rent is approximately $600/month. This is a must see. Only $39,900. This home is owned by Housing Asset Management, a Real Estate Broker in the State of Michigan.

21. 2026-05-22
    listed $39,900 Active

    Show marketing remark (874 chars)

    This newly renovated 2 bedroom/1 bath home is located in Alpine Village manufactured housing community, which is conveniently located near the intersection of Wackerly and Sturgeon. Only 5 minutes to Meijer, Walmart, Home Depot, Midland Mall, many restaurants and 10 minutes to MyMichigan Hospital. Featuring a sunny front living room with a unique high ceiling and three bay windows, this newly renovated manufactured home offers new vinyl windows throughout, new steel doors, luxury vinyl plank flooring throughout, updated cabinets, custom tile countertops, and brand new stainless range and refrigerator. A carport is attached. All buyers must be approved by Alpine Village in order to live there. Homesite rent is approximately $600/month. This is a must see. Only $39,900. This home is owned by Housing Asset Management, a Real Estate Broker in the State of Michigan.

ⓘ 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: $17,071
• − Mortgage interest: −$1,955
• − Property taxes: −$524
• − Insurance: −$174
• − Repairs & maintenance: −$1,366
• − Management: −$1,366
• − Depreciation: −$1,015
• Taxable income: $10,671
• Est. tax owed @ 24.0%: −$2,561
• After-tax cash flow: $8,031/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.

Schools (NCES district)

• District: Midland Public Schools
• NCES district ID: 2623820
• Math proficiency: 49% ▼ -6.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $55,844
• Composite: 48.67/100
• National rank: #2105
• State rank: #62 of 540 in MI

Livability — Midland

• Score: 85/100
• State rank: #28
• US rank: #578

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midland, MI
• County: Midland County · 66,531 people
• City population: 66,531
• Metro: Midland, MI
• Population (ZIP): 34,039
• Household income: $77,847
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 935.0

Population outlook (Midland County) Hauer SSP2

• Today (2025): 83,968 people
• By 2030: 83,368 · -0.7%
• By 2040: 80,713 · -3.9%
• By 2050: 76,698 · -8.7%
• By 2075: 67,617 · -19.5%
• By 2100: 57,529 · -31.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 4% Asian 4% Two or more races 3% Black 2%
• Common ancestry: Romanian 8% Lithuanian 5% Italian 3%
• Foreign-born: 5% · Canada, China, Vietnam
• Languages at home: 95% English-only · Other Indo-European 1% Spanish 1% Chinese 1%

Political lean MEDSL · Midland

• 2024 margin: R (+15.2) · D 41.6% · R 56.8% · Other 1.6%
• 2008→2024 swing: -11.6pp toward R · 2008: -3.6pp · 2024: -15.2pp
• All cycles: 2024: R+15.2 2020: R+14.6 2016: R+19.4 2012: R+15.5 2008: R+3.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.89%
• Current HPI: 192.0812
• Rent YoY: ▲ 0.60%
• Metro: Midland, MI
• 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

• 2026-05-23 Relisted — MiRealSource-MiMLS
• 2026-05-23 Relisted — REALCOMP
• 2026-05-22 Listed $39,900 SW Michigan MLS
• 2026-05-22 Listed $39,900 REALCOMP
• 2026-05-22 Listing Removed — MiRealSource-MiMLS
• 2026-05-22 Listed $39,900 MiRealSource-MiMLS

Property tax history

+4.3%/yr

Latest (2024): $40 · +5.2% YoY. Source: county tax records.