5628-560 American Made Plan · Leslie, MI 49251

$139,900

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 826 Days on market

Good condition $89/sqft · 61% above area

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Why this score? — see what drove the C- 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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.2/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MCM Companies is a family-owned, integrated firm specializing in Community Operation, Real Estate Brokerage, Modular Home Sales, and construction. Our focus on delivering high-quality, affordable modular and manufactured homes is designed to provide our customers with the benefits of offsite construction while allowing for exceptional levels of customization. The world of modular and manufactured home construction has undergone significant advancements over the years, as recognized by a Harvard University study. These advancements have resulted in homes that are not only cost-effective but also energy-efficient and built in record time. Whether you're seeking an escape from apartment life, a welcoming community to raise your family, or a modular home for your own retreat in today's fast-paced world, MCM offers the perfect solution. Our expertise in property management, coupled with cutting-edge technology, ensures that our communities are modern and impeccably maintained. With a multifaceted approach, including construction and student housing, we deliver innovative and sustainable modular housing solutions. Contact us to explore features, options, budget, and timeline, and let us help you transform your vision into your dream modular home. Discover the place where your modular home dreams come to life.

Key facts

• Listed 825 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.0% in Leslie — 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 75/100 on livability (#159 in MI, #4,066 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Leslie Public Schools (rural): math 23% / reading 39% proficiency, ranked #329 of 540 in MI (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodworth Elementary School (math 27% / reading 32%, grade F, #866 of 1,397 statewide, top 65%, 439 students, 56% FRL); Leslie Middle School (math 22% / reading 40%, grade F, #329 of 493 statewide, top 67%, 303 students, 47% FRL); Leslie High School (math 24% / reading 44%, grade F, #372 of 713 statewide, top 56%, 342 students, 44% FRL).
• Market conditions: 38 active listings in the ZIP; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ingham County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 826 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 826 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. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.76%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (median comp): $86,950
• List price: $139,900
• Delta: 60.90%
• Verdict: OVERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
714 Mill St #27	0.13mi	3/2.0	1,512 (-4%)	1mo	$99,900	$66	88
714 Mill St #14	0.13mi	3/2.0	1,512 (-4%)	2mo	$95,900	$63	87
714 Mill St #18	0.13mi	3/2.0	1,512 (-4%)	2mo	$109,900	$73	86
714 Mill St #62	0.13mi	3/2.0	1,560 (-0%)	11mo	$85,179	$55	84
714 Mill St #38	0.13mi	3/2.0	1,512 (-4%)	9mo	$84,900	$56	80
714 Mill St #32	0.13mi	3/2.0	1,512 (-4%)	15mo	$104,900	$69	76
714 Mill St #25	0.13mi	3/2.0	1,500 (-4%)	15mo	$109,900	$73	75

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: -8.9%
• Equity multiple: 0.67×
• Total profit: $-12,759
• Equity at exit: $20,860

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $1,710
• Equity at exit: $12,096

Cash invested: $39,172 (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 49251

• Active inventory: 38
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,420 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $155

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 84%

Sensitivity live

Price	-10% $252	-5% $204	+0% $155	+5% $107	+10% $59
Rent	-10% $43	-5% $99	+0% $155	+5% $211	+10% $267
Rate	-1.0pp $226	-0.5pp $191	base $155	+0.5pp $119	+1.0pp $82

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-22
   days on market $139,900 Active 826 DOM
2. 2026-06-21
   days on market $139,900 Active 825 DOM
3. 2026-06-21
   days on market $139,900 Active 824 DOM
4. 2026-06-18
   days on market $139,900 Active 822 DOM
5. 2026-06-17
   days on market $139,900 Active 821 DOM
6. 2026-06-16
   days on market $139,900 Active 820 DOM
7. 2026-06-15
   days on market $139,900 Active 819 DOM
8. 2026-06-13
   days on market $139,900 Active 817 DOM
9. 2026-06-12
   days on market $139,900 Active 816 DOM
10. 2026-06-09
    days on market $139,900 Active 813 DOM
11. 2026-06-08
    days on market $139,900 Active 812 DOM
12. 2026-06-07
    days on market $139,900 Active 811 DOM
13. 2026-06-07
    days on market $139,900 Active 810 DOM
14. 2026-06-04
    days on market $139,900 Active 807 DOM
15. 2026-06-02
    days on market $139,900 Active 806 DOM
16. 2026-06-01
    days on market $139,900 Active 805 DOM
17. 2026-05-31
    days on market $139,900 Active 804 DOM
18. 2026-05-31
    days on market $139,900 Active 803 DOM
19. 2024-03-18
    listed $139,900 Active 1324-char remark

    Show marketing remark (1324 chars)

    MCM Companies is a family-owned, integrated firm specializing in Community Operation, Real Estate Brokerage, Modular Home Sales, and construction. Our focus on delivering high-quality, affordable modular and manufactured homes is designed to provide our customers with the benefits of offsite construction while allowing for exceptional levels of customization. The world of modular and manufactured home construction has undergone significant advancements over the years, as recognized by a Harvard University study. These advancements have resulted in homes that are not only cost-effective but also energy-efficient and built in record time. Whether you're seeking an escape from apartment life, a welcoming community to raise your family, or a modular home for your own retreat in today's fast-paced world, MCM offers the perfect solution. Our expertise in property management, coupled with cutting-edge technology, ensures that our communities are modern and impeccably maintained. With a multifaceted approach, including construction and student housing, we deliver innovative and sustainable modular housing solutions. Contact us to explore features, options, budget, and timeline, and let us help you transform your vision into your dream modular home. Discover the place where your modular home dreams come to life.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°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: $17,044
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$4,070
• Taxable loss: −$387
• Est. tax savings @ 24.0%: +$93
• After-tax cash flow: $1,956/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 Cosmetic rehab

This home is in good condition with a modern kitchen and bathrooms, hardwood floors, and neutral paint. It has potential for further value increases through minor updates and improvements.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Replacing the ceiling fans with energy-efficient models — Energy-efficient fans can improve air circulation and reduce energy costs.
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and value.
• Both Installing smart home technology — Smart home features can enhance convenience and energy efficiency, making the home more attractive to buyers and renters.
• Both Landscaping the front yard — A well-maintained front yard can improve the home's curb appeal and attract more potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Replacing the ceiling fans with energy-efficient models — Energy-efficient fans can improve air circulation and reduce energy costs. ↑
• Both Upgrading the kitchen appliances — Modern appliances can increase the home's appeal and value. ↑
• Both Installing smart home technology — Smart home features can enhance convenience and energy efficiency, making the home more attractive to buyers and renters. ↑
• Both Landscaping the front yard — A well-maintained front yard can improve the home's curb appeal and attract more potential buyers and renters. ↑

ⓘ 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: Leslie Public Schools
• NCES district ID: 2621450
• Math proficiency: 23% ▼ -11.00%
• Reading proficiency: 39% ▼ -10.00%
• Median HH income: $56,686
• Composite: 27.61/100
• National rank: #6929
• State rank: #329 of 540 in MI

Livability — Leslie

• Score: 75/100
• State rank: #159
• US rank: #4066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Leslie, MI
• Population (ZIP): 6,110

Population outlook (Ingham County) Hauer SSP2

• Today (2025): 300,362 people
• By 2030: 307,808 · +2.5%
• By 2040: 320,492 · +6.7%
• By 2050: 333,223 · +10.9%
• By 2075: 373,693 · +24.4%
• By 2100: 392,021 · +30.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Italian 5% Romanian 4% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Ingham

• 2024 margin: Strong D (+29.7) · D 63.9% · R 34.2% · Other 2.0%
• 2008→2024 swing: -3.6pp toward R · 2008: 33.3pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+32.2 2016: D+27.6 2012: D+27.9 2008: D+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.75%
• Current HPI: 173.7673
• 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

1 event — show timeline

• 2024-03-18 Listed $139,900 Zillow