14809 Michigan 60 Lot 23 · Fabius, MI 49093

$45,000

2 bd · 2.0 ba · 832 sqft · Manufactured · 8 Days on market

Built 1990 $375/mo HOA · 34% of rent

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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 +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable and move-in ready, this beautifully updated 1990 Redman home in Hickory Lane Mobile Home Park offers comfortable living with modern finishes throughout. Featuring 2 bedrooms and 2 full bathrooms, this home boasts an open and functional layout designed for everyday convenience. The kitchen has been tastefully remodeled with white shaker-style cabinetry, attractive countertops, and updated fixtures, creating a bright and inviting space for meal preparation and entertaining. Luxury vinyl plank flooring extends throughout the home, providing durability and a cohesive look. Additional features include central air conditioning, a dedicated laundry room, updated lighting and fixtures, and spacious bedrooms with ample storage. The primary bedroom includes an attached full bathroom for added convenience. This home is located in a park , this transaction will be subject to the parks approval of the buyer. Buyer to pay 6% Sales Tax to the SOS when transferring title. Lot rent $375/mo

Key facts

• Updated kitchen
• Built 1990
• Listed 8 days

Tags

• UPDATED KITCHEN
• WHITE SHAKER-STYLE CABINETRY
• ATTRACTIVE COUNTERTOPS
• LUXURY VINYL PLANK FLOORING
• CENTRAL AIR CONDITIONING
• DEDICATED LAUNDRY ROOM

Property features AI

Finance

• HOA & community: Monthly association fee of $375 includes water, trash, sewer, and snow removal; Has association

Exterior

• Home design: Residential property; Built in 1990
• Construction: Aluminum siding construction
• Exterior features: Aluminum siding; Property is residential

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Five total rooms; Basement (other type)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $45k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Three Rivers Community Schools (town): math 37% / reading 45% proficiency, ranked #200 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 178 active listings in the ZIP; 125 units permitted in St. Joseph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• St. Joseph 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 $13k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 3y ago 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 34% of rent.

Recommended offer $45,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.43% ✓
• Cap rate: 11.00%
• Cash-on-cash: 16.79%
• DSCR: 1.75
• GRM: 3.4

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: 8.4%
• Equity multiple: 1.33×
• Total profit: $4,186
• Equity at exit: $6,710

10-year hold

• IRR: 18.0%
• Equity multiple: 2.52×
• Total profit: $19,110
• Equity at exit: $3,891

Cash invested: $12,600 (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 49093

• Active inventory: 178
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,092 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$375
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $176

Break-even live

Break-even rent $868

Max offer price $45,000

Occupancy floor 79%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $375 · $4,500/yr

Listing history 7 events

1. 2026-06-18
   days on market $45,000 Active 8 DOM
2. 2026-06-17
   days on market $45,000 Active 7 DOM
3. 2026-06-16
   days on market $45,000 Active 6 DOM
4. 2026-06-15
   days on market $45,000 Active 5 DOM
5. 2026-06-14
   days on market $45,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $45,000 Active 2 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: $13,099
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − HOA: −$4,500
• − Depreciation: −$1,309
• Taxable income: $1,773
• Est. tax owed @ 24.0%: −$426
• After-tax cash flow: $1,691/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: Three Rivers Community Schools
• NCES district ID: 2633840
• Math proficiency: 37% ▲ 1.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $46,576
• Composite: 34.97/100
• National rank: #5058
• State rank: #200 of 540 in MI

Livability — Fabius

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 18,439

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 58,726 people
• By 2030: 57,030 · -2.9%
• By 2040: 53,266 · -9.3%
• By 2050: 49,343 · -16.0%
• By 2075: 40,441 · -31.1%
• By 2100: 31,981 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 8% Hispanic / Latino 5% Black 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Italian 11% Iranian 5% Romanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · St. Joseph

• 2024 margin: Solid R (+34.0) · D 32.2% · R 66.2% · Other 1.5%
• 2008→2024 swing: -31.8pp toward R · 2008: -2.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+31.7 2016: R+31.0 2012: R+12.3 2008: R+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -159.07%
• Current HPI: 226.5079
• 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

-96.0% since first listed

11 events — show timeline

• 2026-06-10 Listed $45,000 REALCOMP
• 2026-06-10 Listed $45,000 SW Michigan MLS
• 2026-06-10 Listed $45,000 MiRealSource-MiMLS
• 2023-09-23 Listing Removed — MiRealSource-MiMLS
• 2023-09-23 Relisted — MiRealSource-MiMLS
• 2023-09-15 Listing Removed — MiRealSource-MiMLS
• 2023-09-15 Relisted — MiRealSource-MiMLS
• 2023-08-07 Listing Removed — MiRealSource-MiMLS
• 2023-08-07 Relisted — MiRealSource-MiMLS
• 2023-08-01 Listing Removed — MiRealSource-MiMLS
• 2023-07-25 Listed $1,120,000 MiRealSource-MiMLS