69425 M 62 #26 · Edwardsburg, MI 49112

$25,600

2 bd · 2.0 ba · 924 sqft · Manufactured · 209 Days on market

Built 2025 ↓ 2% since listing

---

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).

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

Listing remarks MLS

* THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, community events, a playground, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2025
• Listed 208 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $26k.

Deal economics

• At list price, monthly cash flow is $887 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $26k).
• Recommended offer: $23k (12.0% below list) — sets the bar for market timing.
• Cap rate 47.9% vs local median 2.8% in Edwardsburg — 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 74/100 on livability (#166 in MI, #4,375 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Edwardsburg Public Schools (suburban): math 51% / reading 66% proficiency, ranked #52 of 540 in MI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 124 active listings in the ZIP; 128 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $177 of loan paydown is wiped out by about $768 of value loss. Plan a longer hold.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($23k) 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 $22,528 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 5.26% ✓
• Cap rate: 47.87%
• Cash-on-cash: 148.47%
• DSCR: 7.61
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $177,408
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69228 Center St	0.28mi	3/2.0 (+1)	1,040 (+13%)	13mo	$200,000	$192	50

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: —
• Equity multiple: 8.30×
• Total profit: $52,358
• Equity at exit: $3,817

10-year hold

• IRR: —
• Equity multiple: 17.52×
• Total profit: $118,410
• Equity at exit: $2,213

Cash invested: $7,168 (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 49112

• Active inventory: 124
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,347 medium
• Mortgage (P&I): −$134
• Tax est. 1.5%: −$32 /mo · $384/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $887

Break-even live

Break-even rent $224

Max offer price $25,600

Occupancy floor 29%

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: $6,400
• Closing costs: $768
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $25,600 Active 209 DOM
2. 2026-06-18
   days on market $25,600 Active 208 DOM
3. 2026-06-17
   days on market $25,600 Active 207 DOM
4. 2026-06-16
   days on market $25,600 Active 206 DOM
5. 2026-06-15
   days on market $25,600 Active 205 DOM
6. 2026-06-14
   days on market $25,600 Active 203 DOM
7. 2026-06-13
   days on market $25,600 Active 202 DOM
8. 2026-06-10
   days on market $25,600 Active 200 DOM
9. 2026-06-09
   days on market $25,600 Active 199 DOM
10. 2026-06-08
    days on market $25,600 Active 198 DOM
11. 2026-06-07
    days on market $25,600 Active 197 DOM
12. 2026-06-05
    days on market $25,600 Active 194 DOM
13. 2026-06-03
    days on market $25,600 Active 193 DOM
14. 2026-06-02
    days on market $25,600 Active 192 DOM
15. 2026-06-01
    pricedays on market $25,600 Active 191 DOM
16. 2026-05-31
    days on market $25,100 Active 190 DOM
17. 2026-05-30
    days on market $25,100 Active 189 DOM
18. 2026-02-02
    status Active 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, community events, a playground, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

19. 2026-02-02
    price $25,100 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, community events, a playground, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

20. 2025-12-19
    historical 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, community events, a playground, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

21. 2025-12-05
    status Active 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, community events, a playground, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

22. 2025-12-05
    historical 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, community events, a playground, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

23. 2025-10-07
    listed $25,600 Active 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 2 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a clubhouse, community events, a playground, and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ 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: $16,159
• − Mortgage interest: −$1,434
• − Property taxes: −$384
• − Insurance: −$128
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − Depreciation: −$745
• Taxable income: $10,883
• Est. tax owed @ 24.0%: −$2,612
• 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: Edwardsburg Public Schools
• NCES district ID: 2612990
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $55,372
• Composite: 50.29/100
• National rank: #1883
• State rank: #52 of 540 in MI

Livability — Edwardsburg

• Score: 74/100
• State rank: #166
• US rank: #4375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Edwardsburg, MI
• Population (ZIP): 10,436

Population outlook (Cass County) Hauer SSP2

• Today (2025): 49,919 people
• By 2030: 48,320 · -3.2%
• By 2040: 44,230 · -11.4%
• By 2050: 39,852 · -20.2%
• By 2075: 31,440 · -37.0%
• By 2100: 23,914 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Romanian 5% Iranian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+33.9) · D 32.5% · R 66.4% · Other 1.1%
• 2008→2024 swing: -38.0pp toward R · 2008: 4.1pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+28.9 2016: R+29.9 2012: R+13.7 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.26%
• Current HPI: 183.898
• 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

-2.0% since first listed

6 events — show timeline

• 2026-02-02 Relisted — Zillow
• 2026-02-02 Price Changed $25,100 Zillow
• 2025-12-19 Delisted — Zillow
• 2025-12-05 Relisted — Zillow
• 2025-12-05 Delisted — Zillow
• 2025-10-07 Listed $25,600 Zillow