11235 Caron St SE · Lowell, MI 49331

$90,000

3 bd · 2.0 ba · 1,600 sqft · Manufactured · 7 Days on market

Built 1987 Fair condition Est $139k · 35% under $632/mo HOA · 32% of rent

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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 +29.2/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ideally located between the charm of historic Lowell and the conveniences of Grand Rapids. This 3-bedroom, 2-bath manufactured home, in Key Heights Village, offers a comfortable one-story layout with central air and heat, plus a 1-stall garage. Residents enjoy an impressive selection of community amenities, including a swimming pool, playground, dog park, basketball courts, RV storage, off-street parking, and recreational facilities. Conveniently situated just over 5 minutes from downtown Lowell, less than 15 minutes from M-37, and approximately 25 minutes from downtown Grand Rapids, this location provides easy access to shopping, dining, employment centers, and outdoor recreation. Mobile home in a park. Subject to park approval. No more than 2 dogs allowed. Subject to breed restrictions + pet rent.

Key facts

• Dog park
• Community amenities
• Swimming pool

Tags

• CENTRAL AIR
• COMMUNITY AMENITIES
• SWIMMING POOL
• PLAYGROUND
• DOG PARK
• BASKETBALL COURTS

Property features AI

Finance

• HOA & community: Monthly association with amenities that allow pets, include a playground and pool; Association fee approximately 632 monthly (includes water, trash, sewer)

Exterior

• Utilities: Water included in association fee; Trash service included in association fee; Sewer included in association fee
• Home design: Ranch-style single-family home; Built in 1987
• Construction: Vinyl siding; Shingle roof; Slab basement
• Exterior features: Corner lot; Shed(s); Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Pantry; 7 total rooms
• Laundry & utility: Washer; Dryer

🏷️ Possibly a rental listed for sale. The $90,000 price doesn't fit this home's estimated sale value (~$139,200) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Cap rate 10.5% vs local median 2.9% in Lowell — 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 80/100 on livability (#76 in MI, #1,669 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Lowell Area Schools (rural): math 51% / reading 64% proficiency, ranked #51 of 540 in MI (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 116 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $622 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $90,000

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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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?
5. 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.
6. 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.
7. 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: 2.21% ✓
• Cap rate: 10.48%
• Cash-on-cash: 14.96%
• DSCR: 1.67
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $139,200
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1824 Rhoda St SE	0.16mi	4/2.0 (+1)	1,646 (+3%)	3mo	$144,000	$87	81

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: 5.9%
• Equity multiple: 1.23×
• Total profit: $5,845
• Equity at exit: $13,419

10-year hold

• IRR: 15.6%
• Equity multiple: 2.29×
• Total profit: $32,556
• Equity at exit: $7,782

Cash invested: $25,200 (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 49331

• Home prices YoY: -31.2%
• Active inventory: 116
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,985 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$632
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $314

Break-even live

Break-even rent $1,587

Max offer price $90,000

Occupancy floor 79%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11731 Boulder Dr SE Lowell, MI	1.0–2.0	1.0–2.0	1081	$1,985	$1.84	2d	2	0.68mi

HOA detail

• Monthly dues: $632 · $7,584/yr
• Likely covers: pool

Listing history 7 events

1. 2026-06-18
   days on market $90,000 Active 7 DOM
2. 2026-06-17
   days on market $90,000 Active 6 DOM
3. 2026-06-16
   days on market $90,000 Active 5 DOM
4. 2026-06-15
   days on market $90,000 Active 4 DOM
5. 2026-06-14
   days on market $90,000 Active 2 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $90,000 Active 1 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: $23,820
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,906
• − Management: −$1,906
• − HOA: −$7,584
• − Depreciation: −$2,618
• Taxable income: $2,965
• Est. tax owed @ 24.0%: −$712
• After-tax cash flow: $3,059/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 · 13 photos

Fair 45/100 Moderate rehab

The home requires significant repairs and renovations to improve its condition and value. A new roof, exterior siding, flooring, and bathroom renovation would significantly increase its resale and rental value.

Repairs flagged

• Major roof — Significant wear and tear
• Major exterior siding — Weathered and damaged
• Major flooring — Worn and stained
• Major interior walls/paint — Worn and damaged
• Major bathrooms — Worn fixtures and outdated design

Value-add opportunities

• Resale new roof — New roof would significantly improve the home's appearance and value
• Resale exterior siding — New siding would improve the home's curb appeal and value
• Resale new flooring — New flooring would improve the home's appearance and value
• Resale new interior paint — New paint would improve the home's appearance and value
• Resale bathroom renovation — Renovated bathrooms would improve the home's appearance and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant wear and tear	Major	$15,000–50,000
exterior siding · Weathered and damaged	Major	$15,000–50,000
flooring · Worn and stained	Major	$15,000–50,000
interior walls/paint · Worn and damaged	Major	$15,000–50,000
bathrooms · Worn fixtures and outdated design	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale new roof — New roof would significantly improve the home's appearance and value ↑
• Resale exterior siding — New siding would improve the home's curb appeal and value ↑
• Resale new flooring — New flooring would improve the home's appearance and value ↑
• Resale new interior paint — New paint would improve the home's appearance and value ↑
• Resale bathroom renovation — Renovated bathrooms would improve the home's appearance and 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: Lowell Area Schools
• NCES district ID: 2622050
• Math proficiency: 51% ▼ -6.00%
• Reading proficiency: 64% ▼ -3.00%
• Median HH income: $64,828
• Composite: 50.37/100
• National rank: #1873
• State rank: #51 of 540 in MI

Livability — Lowell

• Score: 80/100
• State rank: #76
• US rank: #1669

Category grades

Amenities F 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

• Population (ZIP): 17,419

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 4% Black 1%
• Common ancestry: Iranian 16% Romanian 8% Italian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1% Other Asian/Pacific 1%

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: ▼ -120.98%
• Current HPI: 266.8058
• 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

• 2026-06-11 Listed $90,000 MiRealSource-MiMLS
• 2026-06-11 Listed $90,000 REALCOMP
• 2026-06-11 Listed $90,000 SW Michigan MLS