1362 Michigan Unit 89-183 · Otsego, MI 49078

$90,000

3 bd · 2.0 ba · 2,000 sqft · Manufactured · 27 Days on market

Built 2023 Good condition $592/mo HOA · 43% of rent

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Why this score? — see what drove the D- 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.9/30.0
• Schools +4.1/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome To This Beautiful Like-New 2023 Manufactured Home Located In Otsego! This Spacious 3-Bedroom, 2-Bath Home Features An Open Concept Layout Perfect For Modern Living And Entertaining. Enjoy The Feel Of New Construction With Updated Finishes, Bright Living Spaces, And A Functional Floor Plan Throughout. Situated On A Large Open Lot With Additional Green Space Next To The Property, This Home Offers Extra Privacy And Room To Enjoy The Outdoors. A Full Basketball Court Nearby Adds Even More Fun And Recreation Just Steps Away. Conveniently Located With Easy Access To Local Shopping, Dining, And Highways, This Move-In Ready Home Is One You Won't Want To Miss!

Key facts

• Built 2023
• Listed 27 days

Property features AI

Finance

• HOA & community: Homeowners association present; association fees include trash service

Exterior

• Home design: Ranch-style residence; Other architectural elements; Built in 2023
• Construction: Vinyl siding
• Exterior features: Public water

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Crawl space basement

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $-135 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $71k (21.6% below list).
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $71k (21.6% below list) — sets the bar for cash-flow.
• Cap rate 4.5% vs local median 1.8% in Otsego — 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 73/100 on livability (#216 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: employment D+, amenities F, commute F.
• Otsego Public Schools (town): math 39% / reading 57% proficiency, ranked #118 of 540 in MI (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 76 active listings in the ZIP; 419 units permitted in Allegan County in 2024 (0 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.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($89k) 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.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.

Recommended offer $70,528 (21.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.52% ✓
• Cap rate: 4.50%
• Cash-on-cash: -6.41%
• DSCR: 0.71
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -26.7%
• Equity multiple: 0.10×
• Total profit: $-22,770
• Equity at exit: $13,419

10-year hold

• IRR: -22.2%
• Equity multiple: -0.16×
• Total profit: $-29,302
• 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 49078

• Home prices YoY: -32.7%
• Active inventory: 76
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,366 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$592
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $-135

Break-even live

Break-even rent $1,537

Max offer price $70,528

Occupancy floor —

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: —

HOA detail

• Monthly dues: $592 · $7,104/yr

Listing history 18 events

1. 2026-06-18
   days on market $90,000 Active 27 DOM
2. 2026-06-17
   days on market $90,000 Active 26 DOM
3. 2026-06-16
   days on market $90,000 Active 25 DOM
4. 2026-06-15
   days on market $90,000 Active 24 DOM
5. 2026-06-14
   days on market $90,000 Active 22 DOM
6. 2026-06-13
   days on market $90,000 Active 21 DOM
7. 2026-06-10
   days on market $90,000 Active 19 DOM
8. 2026-06-09
   days on market $90,000 Active 18 DOM
9. 2026-06-08
   days on market $90,000 Active 17 DOM
10. 2026-06-07
    days on market $90,000 Active 16 DOM
11. 2026-06-05
    days on market $90,000 Active 13 DOM
12. 2026-06-02
    days on market $90,000 Active 11 DOM
13. 2026-06-01
    days on market $90,000 Active 10 DOM
14. 2026-05-31
    days on market $90,000 Active 9 DOM
15. 2026-05-30
    days on market $90,000 Active 8 DOM
16. 2026-05-22
    listed $90,000 Active

    Show marketing remark (667 chars)

    Welcome To This Beautiful Like-New 2023 Manufactured Home Located In Otsego! This Spacious 3-Bedroom, 2-Bath Home Features An Open Concept Layout Perfect For Modern Living And Entertaining. Enjoy The Feel Of New Construction With Updated Finishes, Bright Living Spaces, And A Functional Floor Plan Throughout. Situated On A Large Open Lot With Additional Green Space Next To The Property, This Home Offers Extra Privacy And Room To Enjoy The Outdoors. A Full Basketball Court Nearby Adds Even More Fun And Recreation Just Steps Away. Conveniently Located With Easy Access To Local Shopping, Dining, And Highways, This Move-In Ready Home Is One You Won't Want To Miss!

17. 2026-05-22
    listed $90,000 Active 667-char remark

    Show marketing remark (667 chars)

    Welcome To This Beautiful Like-New 2023 Manufactured Home Located In Otsego! This Spacious 3-Bedroom, 2-Bath Home Features An Open Concept Layout Perfect For Modern Living And Entertaining. Enjoy The Feel Of New Construction With Updated Finishes, Bright Living Spaces, And A Functional Floor Plan Throughout. Situated On A Large Open Lot With Additional Green Space Next To The Property, This Home Offers Extra Privacy And Room To Enjoy The Outdoors. A Full Basketball Court Nearby Adds Even More Fun And Recreation Just Steps Away. Conveniently Located With Easy Access To Local Shopping, Dining, And Highways, This Move-In Ready Home Is One You Won't Want To Miss!

18. 2026-05-22
    listed $90,000 Active 667-char remark

    Show marketing remark (667 chars)

    Welcome To This Beautiful Like-New 2023 Manufactured Home Located In Otsego! This Spacious 3-Bedroom, 2-Bath Home Features An Open Concept Layout Perfect For Modern Living And Entertaining. Enjoy The Feel Of New Construction With Updated Finishes, Bright Living Spaces, And A Functional Floor Plan Throughout. Situated On A Large Open Lot With Additional Green Space Next To The Property, This Home Offers Extra Privacy And Room To Enjoy The Outdoors. A Full Basketball Court Nearby Adds Even More Fun And Recreation Just Steps Away. Conveniently Located With Easy Access To Local Shopping, Dining, And Highways, This Move-In Ready Home Is One You Won't Want To Miss!

ⓘ 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: $16,396
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − HOA: −$7,104
• − Depreciation: −$2,618
• Taxable loss: −$2,791
• Est. tax savings @ 24.0%: +$670
• After-tax cash flow: $-945/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 · 18 photos

Good 75/100 Cosmetic rehab

This manufactured home is in good condition with modern updates and a good curb appeal. Minor exterior painting and gutter cleaning would further enhance its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage 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: Otsego Public Schools
• NCES district ID: 2627060
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 57% ▼ -10.00%
• Median HH income: $52,776
• Composite: 41.32/100
• National rank: #3507
• State rank: #118 of 540 in MI

Livability — Otsego

• Score: 73/100
• State rank: #216
• US rank: #5349

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,469

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Iranian 9% Italian 4% Romanian 4%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Other Indo-European 4%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.20%
• Current HPI: 245.4119
• 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

• 2026-05-22 Listed $90,000 REALCOMP
• 2026-05-22 Listed $90,000 MiRealSource-MiMLS
• 2026-05-22 Listed $90,000 SW Michigan MLS