420 Hidden Rdg · Perry, MI 48857

$78,900

3 bd · 2.0 ba · 1,586 sqft · SingleFamily · 40 Days on market

Built 1998 Good condition 4,000 sqft lot $50/sqft · 29% below area Est $111k · 29% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home features 3 bedrooms, 2 full baths. A covered front porch. Large kitchen and dining area. Spacious closets. All new flooring and carpeting throughout, new central air conditioner. Secluded yet secure, Morrice Meadows Manufactured Home Community is beautiful, convenient and amazingly affordable. Through our in-house, licensed manufactured home dealer, IMC Home Sales, Morrice Meadows also offers high-quality new and pre-owned homes, as well as spacious sites for those who already own a home. Our location, just east of Morrice Road, off Britton Road, is just three miles from the quaint, historic City of Perry. Our location also allows for easy access via I-69 to Flint and Grand Blanc to the east and Lansing to the west.

Key facts

• Covered front porch
• Spacious closets
• Easy access via i-69

Tags

• COVERED FRONT PORCH
• LARGE KITCHEN AND DINING AREA
• SPACIOUS CLOSETS
• NEW FLOORING AND CARPETING
• NEW CENTRAL AIR CONDITIONER
• EASY ACCESS VIA I-69

Property features AI

Exterior

• Parking: No garage; assigned parking
• Utilities: Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Vinyl siding construction; Pillar/post/pier foundation
• Exterior features: Paved road access; Lot dimensions approximately 40 x 100

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Wood-burning fireplace in the living room; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $79k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $79k).
• Recommended offer: $77k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 2.2% in Perry — 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 76/100 on livability (#142 in MI, #3,653 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety D-.
• Morrice Area Schools (rural): math 20% / reading 43% proficiency, ranked #323 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 74 units permitted in Shiawassee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $545 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Shiawassee County population projected at -25% 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 $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 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 $76,533 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.92% ✓
• Cap rate: 16.22%
• Cash-on-cash: 35.45%
• DSCR: 2.58
• GRM: 4.3

CMA / ARV

• ARV (median comp): $110,778
• List price: $78,900
• Delta: -28.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
520 Pond Vw	0.08mi	3/2.0	1,568 (-1%)	12mo	$40,000	$26	85
337 E Second St	0.14mi	3/1.0	1,536 (-3%)	4mo	$190,000	$124	81
102 E Second St	0.31mi	3/2.0	1,608 (+1%)	12mo	$190,000	$118	74
148 Hidden Rdg	0.24mi	3/2.0	1,620 (+2%)	17mo	$45,000	$28	71
126 Walker Dr	0.18mi	3/2.0	1,544 (-3%)	20mo	$242,000	$157	71
540 E Pond View Dr	0.20mi	3/2.0	1,512 (-5%)	17mo	$82,900	$55	69
11175 S Morrice Rd	0.67mi	3/2.0	1,568 (-1%)	6mo	$154,500	$99	62
111 E South St	0.41mi	3/2.0	1,456 (-8%)	17mo	$174,900	$120	52
204 S Emerald Way	0.49mi	3/2.5	1,377 (-13%)	10mo	$280,000	$203	45
730 W Lansing Rd	0.56mi	3/2.0	1,779 (+12%)	22mo	$150,000	$84	36
301 Saphire St	0.52mi	4/2.5 (+1)	1,764 (+11%)	22mo	$305,000	$173	31
301 Saphire St	0.52mi	4/2.5 (+1)	1,764 (+11%)	22mo	$305,000	$173	31

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: 31.1%
• Equity multiple: 2.30×
• Total profit: $28,801
• Equity at exit: $11,764

10-year hold

• IRR: 38.3%
• Equity multiple: 4.56×
• Total profit: $78,691
• Equity at exit: $6,822

Cash invested: $22,092 (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 48857

• Home prices YoY: -7.5%
• Active inventory: 14
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,516 medium
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,184/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $653

Break-even live

Break-even rent $690

Max offer price $78,900

Occupancy floor 52%

Sensitivity live

Price	-10% $707	-5% $680	+0% $653	+5% $625	+10% $598
Rent	-10% $533	-5% $593	+0% $653	+5% $712	+10% $772
Rate	-1.0pp $692	-0.5pp $673	base $653	+0.5pp $632	+1.0pp $611

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: $19,725
• Closing costs: $2,367
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $78,900 Active 40 DOM
2. 2026-06-18
   days on market $78,900 Active 38 DOM
3. 2026-06-17
   days on market $78,900 Active 37 DOM
4. 2026-06-16
   days on market $78,900 Active 36 DOM
5. 2026-06-15
   days on market $78,900 Active 35 DOM
6. 2026-06-13
   days on market $78,900 Active 33 DOM
7. 2026-06-12
   days on market $78,900 Active 32 DOM
8. 2026-06-09
   days on market $78,900 Active 29 DOM
9. 2026-06-08
   days on market $78,900 Active 28 DOM
10. 2026-06-07
    days on market $78,900 Active 27 DOM
11. 2026-06-05
    days on market $78,900 Active 25 DOM
12. 2026-06-04
    days on market $78,900 Active 23 DOM
13. 2026-06-02
    days on market $78,900 Active 22 DOM
14. 2026-06-01
    days on market $78,900 Active 21 DOM
15. 2026-05-31
    days on market $78,900 Active 20 DOM
16. 2026-05-31
    days on market $78,900 Active 19 DOM
17. 2026-05-11
    listed $78,900 Active 735-char remark

    Show marketing remark (735 chars)

    This home features 3 bedrooms, 2 full baths. A covered front porch. Large kitchen and dining area. Spacious closets. All new flooring and carpeting throughout, new central air conditioner. Secluded yet secure, Morrice Meadows Manufactured Home Community is beautiful, convenient and amazingly affordable. Through our in-house, licensed manufactured home dealer, IMC Home Sales, Morrice Meadows also offers high-quality new and pre-owned homes, as well as spacious sites for those who already own a home. Our location, just east of Morrice Road, off Britton Road, is just three miles from the quaint, historic City of Perry. Our location also allows for easy access via I-69 to Flint and Grand Blanc to the east and Lansing to the west.

18. 2026-05-11
    listed $78,900 Active 735-char remark

    Show marketing remark (735 chars)

    This home features 3 bedrooms, 2 full baths. A covered front porch. Large kitchen and dining area. Spacious closets. All new flooring and carpeting throughout, new central air conditioner. Secluded yet secure, Morrice Meadows Manufactured Home Community is beautiful, convenient and amazingly affordable. Through our in-house, licensed manufactured home dealer, IMC Home Sales, Morrice Meadows also offers high-quality new and pre-owned homes, as well as spacious sites for those who already own a home. Our location, just east of Morrice Road, off Britton Road, is just three miles from the quaint, historic City of Perry. Our location also allows for easy access via I-69 to Flint and Grand Blanc to the east and Lansing to the west.

ⓘ 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: $18,195
• − Mortgage interest: −$4,420
• − Property taxes: −$1,184
• − Insurance: −$394
• − Repairs & maintenance: −$1,456
• − Management: −$1,456
• − Depreciation: −$2,295
• Taxable income: $6,991
• Est. tax owed @ 24.0%: −$1,678
• After-tax cash flow: $6,153/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 · 6 photos

Good 75/100 Cosmetic rehab

This home is in good condition with recent updates, making it move-in ready. It offers a good balance of curb appeal and interior updates, suitable for both resale and rental markets.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value.
• Both New flooring in bathrooms — Freshens up the space and can increase both resale and rental value.
• Both New countertops in kitchen — Enhances the kitchen's functionality and can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Both New flooring in bathrooms — Freshens up the space and can increase both resale and rental value. ↑
• Both New countertops in kitchen — Enhances the kitchen's functionality and can increase both resale and rental value. ↑

ⓘ 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: Morrice Area Schools
• NCES district ID: 2624630
• Math proficiency: 20% ▼ -5.00%
• Reading proficiency: 43% ▼ -1.00%
• Median HH income: $57,064
• Composite: 28.03/100
• National rank: #6845
• State rank: #323 of 540 in MI

Livability — Perry

• Score: 76/100
• State rank: #142
• US rank: #3653

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morrice, MI
• Population (ZIP): 3,488

Population outlook (Shiawassee County) Hauer SSP2

• Today (2025): 64,238 people
• By 2030: 61,434 · -4.4%
• By 2040: 55,054 · -14.3%
• By 2050: 48,426 · -24.6%
• By 2075: 35,995 · -44.0%
• By 2100: 26,678 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Italian 7% Lithuanian 6% Slovak 3%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Shiawassee

• 2024 margin: Strong R (+23.1) · D 37.7% · R 60.8% · Other 1.6%
• 2008→2024 swing: -31.7pp toward R · 2008: 8.6pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.9 2016: R+19.6 2012: D+3.7 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.21%
• Current HPI: 273.1644
• 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

• 2026-05-11 Listed $78,900 REALCOMP
• 2026-05-11 Listed $78,900 MiRealSource-MiMLS