5318 Bart Dr #605 · New Baltimore, MI 48064

$55,900

3 bd · 2.0 ba · 1,250 sqft · Manufactured · 19 Days on market

Built 2026 Good condition 7,000 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This 2023 Clayton Pulse Collection home brings the clean, modern feel buyers are looking for with 3 bedrooms, 2 bathrooms, approximately 1,012 sq. ft. , and a smart layout designed for real everyday living. Inside, you'll find a bright open-concept design with Grand Canyon Oak cabinetry, durable linoleum throughout, stainless steel kitchen sink, black appliance package, LED recessed lighting, Ecobee smart thermostat, high-efficiency Carrier gas furnace, Rheem hybrid heat pump water heater, and energy-focused construction including Energy Star Ready / Zero Energy Ready features.

Key facts

• Open-concept design
• 7,000 sq ft lot
• Built 2026

Tags

• OPEN-CONCEPT DESIGN
• GRAND CANYON OAK CABINETRY
• STAINLESS STEEL KITCHEN SINK
• BLACK APPLIANCE PACKAGE
• LED RECESSED LIGHTING
• ECOBEE SMART THERMOSTAT

Property features AI

Finance

• Financial info: List price $55,900

Exterior

• Utilities: Natural gas heating; Central air conditioning
• Home design: Condominium (spec plan: Anchor Bay); 1,250 living area
• Exterior features: Asphalt roof

Interior

• Kitchen: Includes dishwasher, microwave, refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fans
• Interior features: Dishwasher; Microwave; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $56k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $884 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $56k).
• Recommended offer: $55k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.3% vs local median 2.5% in New Baltimore — 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 (#30 in MI, #597 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: health & safety D+, amenities F.
• Anchor Bay School District (suburban): math 44% / reading 54% proficiency, ranked #91 of 540 in MI (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 29 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 232 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $386 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• St. Clair 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 $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($55k) is reasonable based on typical stale-listing flexibility.

Recommended offer $55,061 (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 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?
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: 2.88% ✓
• Cap rate: 25.28%
• Cash-on-cash: 67.79%
• DSCR: 4.02
• GRM: 2.9

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: 67.2%
• Equity multiple: 4.02×
• Total profit: $47,286
• Equity at exit: $8,335

10-year hold

• IRR: 71.4%
• Equity multiple: 8.27×
• Total profit: $113,794
• Equity at exit: $4,833

Cash invested: $15,652 (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 48064

• Home prices YoY: -34.8%
• Active inventory: 29
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,608 medium
• Mortgage (P&I): −$293
• Tax est. 1.5%: −$70 /mo · $838/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $884

Break-even live

Break-even rent $489

Max offer price $55,900

Occupancy floor 40%

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: $13,975
• Closing costs: $1,677
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5407 Aloha Ln Casco, MI	2.0–3.0	2.0–3.0	1152	$1,599	$1.39	1d	1	0.21mi
37781 Sandstone Trl New Haven, MI	3.0	2.0	1624	$1,674	$1.03	1d	1	1.22mi

Listing history 10 events

1. 2026-06-15
   days on market $55,900 Active 19 DOM
2. 2026-06-13
   days on market $55,900 Active 17 DOM
3. 2026-06-09
   days on market $55,900 Active 13 DOM
4. 2026-06-08
   days on market $55,900 Active 12 DOM
5. 2026-06-07
   days on market $55,900 Active 11 DOM
6. 2026-06-04
   days on market $55,900 Active 8 DOM
7. 2026-06-03
   days on market $55,900 Active 7 DOM
8. 2026-06-02
   days on market $55,900 Active 6 DOM
9. 2026-06-01
   days on market $55,900 Active 5 DOM
10. 2026-05-31
    days on market $55,900 Active 4 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: $19,300
• − Mortgage interest: −$3,131
• − Property taxes: −$838
• − Insurance: −$280
• − Repairs & maintenance: −$1,544
• − Management: −$1,544
• − Depreciation: −$1,626
• Taxable income: $10,337
• Est. tax owed @ 24.0%: −$2,481
• After-tax cash flow: $8,130/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 · 12 photos

Good 80/100 None rehab

This 2023 Clayton Pulse Collection home is in excellent condition with modern finishes and energy-efficient systems. It is move-in ready and has the potential for minor updates to enhance its resale and rental value.

Value-add opportunities

• Both Paint the interior walls — Neutral paint can be updated to a more vibrant color to enhance curb appeal and interior aesthetics
• Both Install a smart lock — A smart lock can improve security and add a modern touch
• Both Add a smart thermostat — The existing Ecobee smart thermostat can be upgraded to a more advanced model for better energy efficiency and control

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the interior walls — Neutral paint can be updated to a more vibrant color to enhance curb appeal and interior aesthetics ↑
• Both Install a smart lock — A smart lock can improve security and add a modern touch ↑
• Both Add a smart thermostat — The existing Ecobee smart thermostat can be upgraded to a more advanced model for better energy efficiency and control ↑

ⓘ 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: Anchor Bay School District
• NCES district ID: 2602790
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,173
• Composite: 43.85/100
• National rank: #2925
• State rank: #91 of 540 in MI

Livability — New Baltimore

• Score: 85/100
• State rank: #30
• US rank: #597

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,996

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 154,587 people
• By 2030: 150,031 · -2.9%
• By 2040: 138,177 · -10.6%
• By 2050: 124,390 · -19.5%
• By 2075: 95,825 · -38.0%
• By 2100: 68,672 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 6% Two or more races 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 16% Lithuanian 11% German 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1% French/Haitian/Cajun 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.4%
• 2008→2024 swing: -37.3pp toward R · 2008: 2.6pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+30.2 2016: R+31.4 2012: R+7.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -123.97%
• Current HPI: 232.1357
• 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