35 Hickory Rdg #35 · Richfield, MI 48423

$86,700

3 bd · 2.0 ba · 1,344 sqft · Manufactured · 77 Days on market

Built 2024 Good condition ↓ 9% since listing

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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 +4.1/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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

• Picnic area
• Fitness center
• Modern bathroom

Tags

• PREMIUM ENTRY DOORS
• MODERN BATHROOM
• BRAND NAME APPLIANCES
• PICNIC AREA
• FITNESS CENTER
• COMMUNITY EVENTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $87k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $465 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $81k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Davison Community Schools (suburban): math 40% / reading 57% proficiency, ranked #117 of 540 in MI (top 22%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 221 active listings in the ZIP; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $599 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Genesee County population projected at -27% 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 $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $81,498 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.55% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.96%
• DSCR: 2.02
• GRM: 5.4

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: 15.9%
• Equity multiple: 1.64×
• Total profit: $15,560
• Equity at exit: $12,927

10-year hold

• IRR: 24.6%
• Equity multiple: 3.13×
• Total profit: $51,732
• Equity at exit: $7,496

Cash invested: $24,276 (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 48423

• Active inventory: 221
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,346 medium
• Mortgage (P&I): −$455
• Tax est. 1.5%: −$108 /mo · $1,300/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $465

Break-even live

Break-even rent $758

Max offer price $86,700

Occupancy floor 60%

Sensitivity live

Price	-10% $524	-5% $495	+0% $465	+5% $435	+10% $405
Rent	-10% $358	-5% $411	+0% $465	+5% $518	+10% $571
Rate	-1.0pp $508	-0.5pp $487	base $465	+0.5pp $442	+1.0pp $419

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: $21,675
• Closing costs: $2,601
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $86,700 Active 77 DOM
2. 2026-06-17
   days on market $86,700 Active 76 DOM
3. 2026-06-16
   days on market $86,700 Active 75 DOM
4. 2026-06-15
   days on market $86,700 Active 74 DOM
5. 2026-06-14
   days on market $86,700 Active 72 DOM
6. 2026-06-13
   days on market $86,700 Active 71 DOM
7. 2026-06-10
   days on market $86,700 Active 69 DOM
8. 2026-06-09
   days on market $86,700 Active 68 DOM
9. 2026-06-08
   days on market $86,700 Active 67 DOM
10. 2026-06-07
    days on market $86,700 Active 66 DOM
11. 2026-06-05
    days on market $86,700 Active 63 DOM
12. 2026-06-02
    days on market $86,700 Active 61 DOM
13. 2026-06-01
    pricedays on market $86,700 Active 60 DOM
14. 2026-05-31
    days on market $86,200 Active 59 DOM
15. 2026-05-30
    days on market $86,200 Active 58 DOM
16. 2026-04-08
    status Active 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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.

17. 2026-04-08
    price $86,200 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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.

18. 2024-05-21
    historical 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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. 2024-05-21
    status Active 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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. 2024-05-21
    historical 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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. 2024-05-20
    status Active 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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. 2024-05-20
    historical 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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. 2024-05-14
    status Active 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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.

24. 2024-05-14
    historical 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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.

25. 2024-05-14
    listed $94,400 Active 399-char remark

    Show marketing remark (399 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as a fitness center, scenic views, a clubhouse, 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: $16,158
• − Mortgage interest: −$4,857
• − Property taxes: −$1,300
• − Insurance: −$434
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − Depreciation: −$2,522
• Taxable income: $4,460
• Est. tax owed @ 24.0%: −$1,070
• After-tax cash flow: $4,504/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 · 1 photo

Good 75/100 Cosmetic rehab

This mobile home is in good condition with minimal maintenance required. It's a great opportunity for a buyer looking for a move-in-ready property in a family-friendly community.

Value-add opportunities

• Resale Paint exterior — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers.
• Rental Clean gutters — Clean gutters improve the home's appearance and reduce the risk of water damage, which is important for renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Fresh paint can enhance the home's curb appeal and make it more attractive to potential buyers. ↑
• Rental Clean gutters — Clean gutters improve the home's appearance and reduce the risk of water damage, which is important for 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: Davison Community Schools
• NCES district ID: 2611430
• Math proficiency: 40% ▼ -8.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $49,102
• Composite: 41.39/100
• National rank: #3479
• State rank: #117 of 540 in MI

Livability — Richfield

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

Census & demographics

• County: Genesee County · 221,329 people
• Metro: Flint, MI
• Population (ZIP): 33,757
• Household income: $65,079
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 1394.0

Population outlook (Genesee County) Hauer SSP2

• Today (2025): 381,312 people
• By 2030: 362,731 · -4.9%
• By 2040: 321,550 · -15.7%
• By 2050: 279,212 · -26.8%
• By 2075: 193,336 · -49.3%
• By 2100: 128,118 · -66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 10% Lithuanian 4% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Genesee

• 2024 margin: Toss-up / Even · D 51.4% · R 47.2% · Other 1.4%
• 2008→2024 swing: -28.3pp toward R · 2008: 32.5pp · 2024: 4.2pp
• All cycles: 2024: D+4.2 2020: D+9.3 2016: D+9.5 2012: D+28.2 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -226.14%
• Current HPI: 228.684
• Rent YoY: —
• Metro: Flint, 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

-8.7% since first listed

10 events — show timeline

• 2026-04-08 Relisted — Zillow
• 2026-04-08 Price Changed $86,200 Zillow
• 2024-05-21 Delisted — Zillow
• 2024-05-21 Relisted — Zillow
• 2024-05-21 Delisted — Zillow
• 2024-05-20 Relisted — Zillow
• 2024-05-20 Delisted — Zillow
• 2024-05-14 Relisted — Zillow
• 2024-05-14 Delisted — Zillow
• 2024-05-14 Listed $94,400 Zillow