9216 Bass Dr · Reading, MI 49274

$110,000

4 bd · 1.0 ba · 720 sqft · Manufactured public records · 1 Days on market

Built 1960 0.30 ac lot $4/mo HOA

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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 +29.9/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Ultimate Lake Getaway! If you've been dreaming of lazy summer days on the water, evenings around the campfire, & a place where memories are made for generations to come, this is it! Nestled on a beautiful double lot overlooking Hemlock Lake, this charming mobile home offers the perfect blend of relaxation & recreation. Inside the home you'll find 2 BR, an eat-in kitchen, comfortable LR, and a full BA featuring a tub/shower combo. The attached sunroom provides a peaceful retreat where you can enjoy your morning coffee while taking in the breathtaking surroundings. Step outside to the expansive deck w/ picnic table, creating the ideal gathering space for family meals, laughter, & lake-life memories. Two storage sheds provide plenty of room for all your outdoor gear, w/ the larger shed offering electricity & the perfect setup for cleaning the day's catch after a successful day of fishing. The impressive pole barn, built in 2022, is ready to store your boat, jet skis, & all your lake toys. But that's not all! The barn features additional living quarters, making it an incredible bonus space for weekend guests. Complete w/ a cozy LR, 2 BR's, and a full BA w/ walk-in shower, giving family & friends their own private retreat while visiting. Outside, a firepit area waits for evenings filled w/ s'mores, campfire pies, & stories under the stars. Water views, convenient lake access to the boat launch, & woods across the street, every day feels like a vacation! Whether you're searching for the ultimate weekend getaway, a seasonal retreat, or a new primary residence where every day feels like a vacation, this property offers endless possibilities. Come chase fireflies, spend your days on the water, enjoy stunning sunsets, and create memories that will last a lifetime. Hemlock Lake is calling; it's time to start your next chapter at the lake!

Key facts

• Impressive pole barn
• Double lot
• Two storage sheds

Tags

• DOUBLE LOT
• ATTACHED SUNROOM
• EXPANSIVE DECK
• TWO STORAGE SHEDS
• IMPRESSIVE POLE BARN
• ADDITIONAL LIVING QUARTERS

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $50 (about $4.17/month)

Exterior

• Parking: Detached heated garage with automatic door opener; Approximately 2.5 garage spaces
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Aluminum and steel siding; Slab foundation; Built on one level
• Exterior features: Deck; Lake privileges; Has a view; Gravel road access; Publicly maintained road

Interior

• Kitchen: Oven, Refrigerator, Range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Propane heating; Wall furnace; Ceiling fan(s); Wall/window air conditioning units
• Interior features: Eat-in kitchen; Window treatments; Oven, Refrigerator, Range

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $406 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).

Location & tenants

• Location reads 69/100 on livability (#352 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, schools D-, amenities F.
• Reading Community Schools (rural): math 27% / reading 36% proficiency, ranked #350 of 540 in MI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 31 active listings in the ZIP; 72 units permitted in Hillsdale County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Hillsdale County population projected at -22% 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 $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.22% ✓
• Cap rate: 10.72%
• Cash-on-cash: 15.81%
• DSCR: 1.70
• GRM: 6.8

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: 6.6%
• Equity multiple: 1.26×
• Total profit: $7,972
• Equity at exit: $16,401

10-year hold

• IRR: 16.0%
• Equity multiple: 2.30×
• Total profit: $40,036
• Equity at exit: $9,511

Cash invested: $30,800 (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 49274

• Active inventory: 31
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,342 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$28 /mo · $334/yr
• Insurance: −$46
• HOA: −$4
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $406

Break-even live

Break-even rent $829

Max offer price $110,000

Occupancy floor 65%

Sensitivity live

Price	-10% $468	-5% $437	+0% $406	+5% $375	+10% $343
Rent	-10% $300	-5% $353	+0% $406	+5% $459	+10% $512
Rate	-1.0pp $461	-0.5pp $434	base $406	+0.5pp $377	+1.0pp $348

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $4 · $48/yr
• Likely covers: waterelectric

Listing history 2 events

1. 2026-06-19
   remarks 691-char remark
2. 2026-06-19
   listed $110,000 Active 1 DOM

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $334 · $28/mo
• Projected year-2 tax: $1,014 · $84/mo
• Expected delta: +$680/yr (+$57/mo · 203.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $16,105
• − Mortgage interest: −$6,162
• − Property taxes: −$334
• − Insurance: −$550
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − HOA: −$48
• − Depreciation: −$3,200
• Taxable income: $3,235
• Est. tax owed @ 24.0%: −$776
• After-tax cash flow: $4,093/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: Reading Community Schools
• NCES district ID: 2629400
• Math proficiency: 27% ▲ 1.00%
• Reading proficiency: 36% ▲ 2.00%
• Median HH income: $39,682
• Composite: 26.43/100
• National rank: #7223
• State rank: #350 of 540 in MI

Livability — Reading

• Score: 69/100
• State rank: #352
• US rank: #8989

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,777

Population outlook (Hillsdale County) Hauer SSP2

• Today (2025): 43,704 people
• By 2030: 41,996 · -3.9%
• By 2040: 38,019 · -13.0%
• By 2050: 34,095 · -22.0%
• By 2075: 25,897 · -40.7%
• By 2100: 18,746 · -57.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Hispanic / Latino 3% Two or more races 2%
• Common ancestry: Romanian 3% Lithuanian 2% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 90% English-only · German/W. Germanic 9%

Political lean MEDSL · Hillsdale

• 2024 margin: Solid R (+51.4) · D 23.7% · R 75.1% · Other 1.2%
• 2008→2024 swing: -39.4pp toward R · 2008: -12.0pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+47.9 2016: R+46.8 2012: R+24.2 2008: R+12.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -173.73%
• Current HPI: 188.1608
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-18 Listed $110,000 REALCOMP
• 2026-06-18 Listed $110,000 MiRealSource-MiMLS

Property tax history

+0.6%/yr

Latest (2025): $334 · -76.3% YoY. Source: county tax records.