916 Wintergreen Dr · Hastings, MI 49058

$122,000

4 bd · 3.0 ba · 2,128 sqft · Manufactured · 21 Days on market

Built 2002 Good condition 594 sqft lot Est $215k · 43% 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
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three Letters for multi-generational living. .. B-I-G! Sprawling 4-bedroom ranch in Meadowstone, has room for play, storage, hobbies and entertaining. Two living areas, Three full baths, fireplace and more. Disclosure that the home is located in a park and that the transaction will be subject to the parks approval of the buyer; and the name and contact information for the park.

Key facts

• Built 2002
• Listed 21 days

Property features AI

Exterior

• Home design: Ranch-style home; Built in 2002
• Construction: Vinyl siding
• Exterior features: Public water

Interior

• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating; Has heating
• Interior features: Fireplace; 10 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath manufactured listed at $122k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $581 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $120k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 4.0% in Hastings — 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 79/100 on livability (#95 in MI, #2,201 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, employment D, commute F.
• Hastings Area School District (town): math 33% / reading 48% proficiency, ranked #203 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 136 active listings in the ZIP; 171 units permitted in Barry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $843 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Barry County population projected at -11% 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 $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($120k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $120,170 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.48% ✓
• Cap rate: 12.01%
• Cash-on-cash: 20.41%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $214,928
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
227 W Nelson St	0.74mi	3/2.5 (-1)	2,324 (+9%)	10mo	$235,000	$101	35

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: 12.7%
• Equity multiple: 1.51×
• Total profit: $17,258
• Equity at exit: $18,191

10-year hold

• IRR: 21.6%
• Equity multiple: 2.84×
• Total profit: $62,781
• Equity at exit: $10,548

Cash invested: $34,160 (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 49058

• Active inventory: 136
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,803 medium
• Mortgage (P&I): −$640
• Tax est. 1.5%: −$152 /mo · $1,830/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $581

Break-even live

Break-even rent $1,067

Max offer price $122,000

Occupancy floor 63%

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-08
   days on market $122,000 Active 21 DOM
2. 2026-06-07
   days on market $122,000 Active 20 DOM
3. 2026-06-02
   days on market $122,000 Active 15 DOM
4. 2026-06-01
   days on market $122,000 Active 14 DOM
5. 2026-05-31
   days on market $122,000 Active 13 DOM
6. 2026-05-30
   days on market $122,000 Active 12 DOM
7. 2026-05-20
   status Active 380-char remark

   Show marketing remark (380 chars)

   Three Letters for multi-generational living. .. B-I-G! Sprawling 4-bedroom ranch in Meadowstone, has room for play, storage, hobbies and entertaining. Two living areas, Three full baths, fireplace and more. Disclosure that the home is located in a park and that the transaction will be subject to the parks approval of the buyer; and the name and contact information for the park.

8. 2026-05-20
   status Active 380-char remark

   Show marketing remark (380 chars)

   Three Letters for multi-generational living. .. B-I-G! Sprawling 4-bedroom ranch in Meadowstone, has room for play, storage, hobbies and entertaining. Two living areas, Three full baths, fireplace and more. Disclosure that the home is located in a park and that the transaction will be subject to the parks approval of the buyer; and the name and contact information for the park.

9. 2026-05-20
   status Active

   Show marketing remark (380 chars)

   Three Letters for multi-generational living. .. B-I-G! Sprawling 4-bedroom ranch in Meadowstone, has room for play, storage, hobbies and entertaining. Two living areas, Three full baths, fireplace and more. Disclosure that the home is located in a park and that the transaction will be subject to the parks approval of the buyer; and the name and contact information for the park.

10. 2026-05-19
    historical

    Show marketing remark (380 chars)

    Three Letters for multi-generational living. .. B-I-G! Sprawling 4-bedroom ranch in Meadowstone, has room for play, storage, hobbies and entertaining. Two living areas, Three full baths, fireplace and more. Disclosure that the home is located in a park and that the transaction will be subject to the parks approval of the buyer; and the name and contact information for the park.

11. 2026-05-19
    historical 380-char remark

    Show marketing remark (380 chars)

    Three Letters for multi-generational living. .. B-I-G! Sprawling 4-bedroom ranch in Meadowstone, has room for play, storage, hobbies and entertaining. Two living areas, Three full baths, fireplace and more. Disclosure that the home is located in a park and that the transaction will be subject to the parks approval of the buyer; and the name and contact information for the park.

12. 2026-05-19
    historical 380-char remark

    Show marketing remark (380 chars)

    Three Letters for multi-generational living. .. B-I-G! Sprawling 4-bedroom ranch in Meadowstone, has room for play, storage, hobbies and entertaining. Two living areas, Three full baths, fireplace and more. Disclosure that the home is located in a park and that the transaction will be subject to the parks approval of the buyer; and the name and contact information for the park.

13. 2026-05-15
    listed $132,000 Active 380-char remark

    Show marketing remark (380 chars)

    Three Letters for multi-generational living. .. B-I-G! Sprawling 4-bedroom ranch in Meadowstone, has room for play, storage, hobbies and entertaining. Two living areas, Three full baths, fireplace and more. Disclosure that the home is located in a park and that the transaction will be subject to the parks approval of the buyer; and the name and contact information for the park.

14. 2026-05-15
    listed $132,000 Active 380-char remark

    Show marketing remark (380 chars)

    Three Letters for multi-generational living. .. B-I-G! Sprawling 4-bedroom ranch in Meadowstone, has room for play, storage, hobbies and entertaining. Two living areas, Three full baths, fireplace and more. Disclosure that the home is located in a park and that the transaction will be subject to the parks approval of the buyer; and the name and contact information for the park.

15. 2026-05-15
    listed $132,000 Active

    Show marketing remark (380 chars)

    Three Letters for multi-generational living. .. B-I-G! Sprawling 4-bedroom ranch in Meadowstone, has room for play, storage, hobbies and entertaining. Two living areas, Three full baths, fireplace and more. Disclosure that the home is located in a park and that the transaction will be subject to the parks approval of the buyer; and the name and contact information for the park.

ⓘ 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: $21,631
• − Mortgage interest: −$6,834
• − Property taxes: −$1,830
• − Insurance: −$610
• − Repairs & maintenance: −$1,730
• − Management: −$1,730
• − Depreciation: −$3,549
• Taxable income: $5,347
• Est. tax owed @ 24.0%: −$1,283
• After-tax cash flow: $5,688/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 · 13 photos

Good 80/100 Cosmetic rehab

This home is in good condition with cosmetic updates, ready for a fresh coat of paint and flooring upgrades to enhance its curb appeal and value.

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal and value
• Resale Trim and paint exterior trim — Improves home's appearance and value
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases value
• Resale Update kitchen appliances — Modernizes the kitchen and enhances appeal

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal and value ↑
• Resale Trim and paint exterior trim — Improves home's appearance and value ↑
• Both Replace carpet with hardwood flooring — Improves aesthetics and increases value ↑
• Resale Update kitchen appliances — Modernizes the kitchen and enhances appeal ↑

ⓘ 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: Hastings Area School District
• NCES district ID: 2617970
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $48,478
• Composite: 34.71/100
• National rank: #5137
• State rank: #203 of 540 in MI

Livability — Hastings

• Score: 79/100
• State rank: #95
• US rank: #2201

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hastings, MI
• City population: 19,513
• Population (ZIP): 19,513

Population outlook (Barry County) Hauer SSP2

• Today (2025): 59,601 people
• By 2030: 59,185 · -0.7%
• By 2040: 57,121 · -4.2%
• By 2050: 53,139 · -10.8%
• By 2075: 42,814 · -28.2%
• By 2100: 29,357 · -50.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 8% Romanian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Barry

• 2024 margin: Solid R (+34.3) · D 32.1% · R 66.4% · Other 1.5%
• 2008→2024 swing: -24.6pp toward R · 2008: -9.8pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+32.5 2016: R+33.3 2012: R+18.1 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.56%
• Current HPI: 224.6353
• 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

9 events — show timeline

• 2026-05-20 Relisted — REALCOMP
• 2026-05-20 Relisted — MiRealSource-MiMLS
• 2026-05-20 Relisted — SW Michigan MLS
• 2026-05-19 Listing Removed — SW Michigan MLS
• 2026-05-19 Listing Removed — MiRealSource-MiMLS
• 2026-05-19 Listing Removed — REALCOMP
• 2026-05-15 Listed $132,000 SW Michigan MLS
• 2026-05-15 Listed $132,000 MiRealSource-MiMLS
• 2026-05-15 Listed $132,000 REALCOMP