1950 S 13th St #213 · Niles, MI 49120

$25,000

3 bd · 2.0 ba · 980 sqft · Manufactured · 15 Days on market

Built 1985 $26/sqft · at area comps Est $25k · at est. ↓ 29% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.7/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MAKE THE LEAP INTO HOMEOWNERSHIP with this 3 Bedroom 2 Bath Mobile/Manufactured Home Located in Franklin Woods Mobile Home Park. You'll Appreciate the Split-Bedroom Floor Plan, All Appliances Stay, Ramp Entrance, Storage Shed and UPDATES: 2024: Exterior Lights . .. 2022: Furnace, Central Air, Water Heater, Kitchen & Bath Cabinets, all 3 Sinks & Faucets, Shower Faucet, Carpeting, LVP Kitchen Flooring, Exterior Doors, 2 BR Doors, and Lighting . .. 2021: New Metal Roof . .. $611/mo. Lot Rent includes Water, Sewer, Trash & Snow Removal . .. Enjoy Access to Numerous Amenities Park has to Offer: Pool, Playground, Basketball Court, Game Room and Rental Hall/Clubhouse . .. Conveniently located near Walmart and other shopping . .. And only 3 minutes to the Indiana State line. NOTE: There's NO Association/NO HOA, that's just the lot rent. All info, deemed reliable, but Buyer/Buyer's agent to verify. Must be approved through the park. CALL TODAY TO VIEW!!!

Key facts

• Ramp entrance
• Storage shed
• Exterior lights

Tags

• SPLIT-BEDROOM FLOOR PLAN
• RAMP ENTRANCE
• STORAGE SHED
• EXTERIOR LIGHTS
• FURNACE
• CENTRAL AIR

Property features AI

Finance

• HOA & community: Community clubhouse; Community pool; Playground; Pets allowed; Association fees include water, trash, sewer, and snow removal; Has association

Exterior

• Utilities: Public water; Natural gas connected; Public sewer
• Home design: Ranch style; Residential property
• Construction: Built in 1985; Other construction materials
• Exterior features: Leased land; Metal roof

Interior

• Kitchen: Refrigerator; Oven; Range
• Bedrooms: Primary bedroom (10 x 11); Bedroom 2 (9 x 11); Bedroom 3 (8 x 8)
• Bathrooms: 2 full bathrooms; Primary bathroom (8 x 8); Second bathroom (5 x 9)
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Eat-in kitchen; Ramped entrance; Grab bar in main floor bathroom; 5 total rooms
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $924 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.
• Cap rate 50.7% vs local median 4.3% in Niles — 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 72/100 on livability (#260 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, schools D, crime D-.
• Brandywine Community Schools (suburban): math 25% / reading 38% proficiency, ranked #342 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 208 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Berrien County population projected at -16% 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 15 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• 5 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

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $24,625 (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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. 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?
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: 5.55% ✓
• Cap rate: 50.66%
• Cash-on-cash: 158.45%
• DSCR: 8.05
• GRM: 1.5

CMA / ARV

• ARV (median comp): $25,128
• List price: $25,000
• Delta: -0.51%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1950 S 13th St #213	0.00mi	3/2.0	980 (0%)	1mo	$25,000	$26	99

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: 8.83×
• Total profit: $54,840
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 18.66×
• Total profit: $123,644
• Equity at exit: $2,162

Cash invested: $7,000 (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 49120

• Active inventory: 208
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,389 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$292
• Net cashflow: $924

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 28%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 Fort St Niles, MI	2.0	2.0	794	$1,708	$2.15	13d	1	1.33mi

Listing history 13 events

1. 2026-05-11
   listed $25,000 Active 977-char remark

   Show marketing remark (977 chars)

   MAKE THE LEAP INTO HOMEOWNERSHIP with this 3 Bedroom 2 Bath Mobile/Manufactured Home Located in Franklin Woods Mobile Home Park. You'll Appreciate the Split-Bedroom Floor Plan, All Appliances Stay, Ramp Entrance, Storage Shed and UPDATES: 2024: Exterior Lights . .. 2022: Furnace, Central Air, Water Heater, Kitchen & Bath Cabinets, all 3 Sinks & Faucets, Shower Faucet, Carpeting, LVP Kitchen Flooring, Exterior Doors, 2 BR Doors, and Lighting . .. 2021: New Metal Roof . .. $611/mo. Lot Rent includes Water, Sewer, Trash & Snow Removal . .. Enjoy Access to Numerous Amenities Park has to Offer: Pool, Playground, Basketball Court, Game Room and Rental Hall/Clubhouse . .. Conveniently located near Walmart and other shopping . .. And only 3 minutes to the Indiana State line. NOTE: There's NO Association/NO HOA, that's just the lot rent. All info, deemed reliable, but Buyer/Buyer's agent to verify. Must be approved through the park. CALL TODAY TO VIEW!!!

2. 2026-05-11
   listed $25,000 Active 977-char remark

   Show marketing remark (977 chars)

   MAKE THE LEAP INTO HOMEOWNERSHIP with this 3 Bedroom 2 Bath Mobile/Manufactured Home Located in Franklin Woods Mobile Home Park. You'll Appreciate the Split-Bedroom Floor Plan, All Appliances Stay, Ramp Entrance, Storage Shed and UPDATES: 2024: Exterior Lights . .. 2022: Furnace, Central Air, Water Heater, Kitchen & Bath Cabinets, all 3 Sinks & Faucets, Shower Faucet, Carpeting, LVP Kitchen Flooring, Exterior Doors, 2 BR Doors, and Lighting . .. 2021: New Metal Roof . .. $611/mo. Lot Rent includes Water, Sewer, Trash & Snow Removal . .. Enjoy Access to Numerous Amenities Park has to Offer: Pool, Playground, Basketball Court, Game Room and Rental Hall/Clubhouse . .. Conveniently located near Walmart and other shopping . .. And only 3 minutes to the Indiana State line. NOTE: There's NO Association/NO HOA, that's just the lot rent. All info, deemed reliable, but Buyer/Buyer's agent to verify. Must be approved through the park. CALL TODAY TO VIEW!!!

3. 2026-05-11
   listed $25,000 Active

   Show marketing remark (977 chars)

   MAKE THE LEAP INTO HOMEOWNERSHIP with this 3 Bedroom 2 Bath Mobile/Manufactured Home Located in Franklin Woods Mobile Home Park. You'll Appreciate the Split-Bedroom Floor Plan, All Appliances Stay, Ramp Entrance, Storage Shed and UPDATES: 2024: Exterior Lights . .. 2022: Furnace, Central Air, Water Heater, Kitchen & Bath Cabinets, all 3 Sinks & Faucets, Shower Faucet, Carpeting, LVP Kitchen Flooring, Exterior Doors, 2 BR Doors, and Lighting . .. 2021: New Metal Roof . .. $611/mo. Lot Rent includes Water, Sewer, Trash & Snow Removal . .. Enjoy Access to Numerous Amenities Park has to Offer: Pool, Playground, Basketball Court, Game Room and Rental Hall/Clubhouse . .. Conveniently located near Walmart and other shopping . .. And only 3 minutes to the Indiana State line. NOTE: There's NO Association/NO HOA, that's just the lot rent. All info, deemed reliable, but Buyer/Buyer's agent to verify. Must be approved through the park. CALL TODAY TO VIEW!!!

4. 2026-04-29
   historical
5. 2026-04-28
   historical
6. 2025-11-26
   price $32,000
7. 2025-11-25
   price $32,000
8. 2025-11-25
   price $32,000
9. 2025-11-14
   price $34,000
10. 2025-11-13
    price $34,000
11. 2025-11-13
    price $34,000
12. 2025-10-28
    listed $35,000 Active
13. 2025-10-28
    listed $35,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,665
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,333
• − Management: −$1,333
• − Depreciation: −$727
• Taxable income: $11,371
• Est. tax owed @ 24.0%: −$2,729
• After-tax cash flow: $8,363/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: Brandywine Community Schools
• NCES district ID: 2606600
• Math proficiency: 25% ▼ -7.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $46,075
• Composite: 27.02/100
• National rank: #7059
• State rank: #342 of 540 in MI

Livability — Niles

• Score: 72/100
• State rank: #260
• US rank: #6422

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Berrien County · 71,477 people
• City population: 36,495
• Metro: Niles, MI
• Population (ZIP): 36,495
• Household income: $65,148
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 782.0

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 7% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -345.26%
• Current HPI: 195.8214
• Rent YoY: —
• Metro: Niles, 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

-28.6% since first listed

19 events — show timeline

• 2026-05-29 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2026-05-29 Sold (MLS) $25,000 SW Michigan MLS
• 2026-05-29 Sold (MLS) $25,000 REALCOMP
• 2026-05-27 Pending — REALCOMP
• 2026-05-26 Pending — MiRealSource-MiMLS
• 2026-05-26 Pending — SW Michigan MLS
• 2026-05-11 Listed $25,000 REALCOMP
• 2026-05-11 Listed $25,000 MiRealSource-MiMLS
• 2026-05-11 Listed $25,000 SW Michigan MLS
• 2026-04-29 Listing Removed — MiRealSource-MiMLS
• 2026-04-28 Listing Removed — REALCOMP
• 2025-11-26 Price Changed $32,000 MiRealSource-MiMLS
• 2025-11-25 Price Changed $32,000 REALCOMP
• 2025-11-25 Price Changed $32,000 SW Michigan MLS
• 2025-11-14 Price Changed $34,000 MiRealSource-MiMLS
• 2025-11-13 Price Changed $34,000 REALCOMP
• 2025-11-13 Price Changed $34,000 SW Michigan MLS
• 2025-10-28 Listed $35,000 REALCOMP
• 2025-10-28 Listed $35,000 MiRealSource-MiMLS