986 Elmwood St #131 · Reynolds, MI 49329

$25,000

3 bd · 2.0 ba · 1,064 sqft · Manufactured · 56 Days on market

Built 2026 Fair condition $23/sqft · 84% below area

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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 +2.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

* 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 playground, community events, a basketball court, 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

• Built 2026
• Listed 55 days

Property features AI

Finance

• Financial info: List price $24,500

Exterior

• Utilities: Natural gas; Central air
• Home design: Single-family property
• Exterior features: Living area approximately 1,064

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Active listing (spec home)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $25k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($911 rent vs $25k).
• Recommended offer: $24k (3.0% 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.
• Tri County Area Schools (rural): math 26% / reading 42% proficiency, ranked #302 of 540 in MI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 75 active listings in the ZIP; 273 units permitted in Montcalm County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $173 of loan paydown is wiped out by about $750 of value loss. Plan a longer hold.
• Montcalm County population projected at -17% 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 $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($24k) is reasonable based on typical stale-listing flexibility.

Recommended offer $24,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 3.64% ✓
• Cap rate: 32.55%
• Cash-on-cash: 93.78%
• DSCR: 5.17
• GRM: 2.3

CMA / ARV

• ARV (median comp): $155,729
• List price: $25,000
• Delta: -83.95%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20019 Northrup Dr	0.61mi	2/2.0 (-1)	1,144 (+8%)	24mo	$130,000	$114	34

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: 94.6%
• Equity multiple: 5.40×
• Total profit: $30,806
• Equity at exit: $3,728

10-year hold

• IRR: 97.4%
• Equity multiple: 11.25×
• Total profit: $71,748
• Equity at exit: $2,162

Cash invested: $7,000 (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 49329

• Home prices YoY: -15.6%
• Active inventory: 75
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $911 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $547

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 35%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $25,000 Active 56 DOM
2. 2026-06-17
   days on market $25,000 Active 55 DOM
3. 2026-06-16
   days on market $25,000 Active 54 DOM
4. 2026-06-15
   days on market $25,000 Active 53 DOM
5. 2026-06-13
   days on market $25,000 Active 51 DOM
6. 2026-06-12
   days on market $25,000 Active 50 DOM
7. 2026-06-09
   days on market $25,000 Active 47 DOM
8. 2026-06-08
   days on market $25,000 Active 46 DOM
9. 2026-06-07
   days on market $25,000 Active 45 DOM
10. 2026-06-07
    days on market $25,000 Active 44 DOM
11. 2026-06-04
    days on market $25,000 Active 41 DOM
12. 2026-06-02
    days on market $25,000 Active 40 DOM
13. 2026-06-01
    price $25,000 Active 39 DOM
14. 2026-06-01
    days on market $24,500 Active 39 DOM
15. 2026-05-31
    days on market $24,500 Active 38 DOM
16. 2026-05-31
    days on market $24,500 Active 37 DOM
17. 2026-04-23
    listed $24,500 Active 406-char remark

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,934
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$875
• − Management: −$875
• − Depreciation: −$727
• Taxable income: $6,557
• Est. tax owed @ 24.0%: −$1,574
• After-tax cash flow: $4,991/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 · 2 photos

Fair 45/100 Cosmetic rehab

This manufactured home has average exterior condition with some wear and faded paint. Painting and repairing the siding would significantly improve its curb appeal and value.

Repairs flagged

• Minor roof — No visible damage
• Moderate siding — Siding shows signs of wear
• Major paint — Paint is faded and peeling

Value-add opportunities

• Both painting — Fresh paint would improve curb appeal and interior aesthetics
• Both siding repair — New siding would enhance the home's appearance and increase its value

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No visible damage	Minor	$500–3,000
siding · Siding shows signs of wear	Moderate	$3,000–15,000
paint · Paint is faded and peeling	Major	$15,000–50,000
Total estimated repair cost · 3 items		$18,500–68,000

Value-add ROI direction

• Both painting — Fresh paint would improve curb appeal and interior aesthetics ↑
• Both siding repair — New siding would enhance the home's appearance and increase its 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: Tri County Area Schools
• NCES district ID: 2633930
• Math proficiency: 26% ▼ -2.00%
• Reading proficiency: 42% ▲ 2.00%
• Median HH income: $48,772
• Composite: 29.34/100
• National rank: #6542
• State rank: #302 of 540 in MI

Livability — Reynolds

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

Census & demographics

• Census place: Howard City, MI
• Population (ZIP): 9,030

Population outlook (Montcalm County) Hauer SSP2

• Today (2025): 61,011 people
• By 2030: 59,467 · -2.5%
• By 2040: 55,427 · -9.2%
• By 2050: 50,517 · -17.2%
• By 2075: 38,731 · -36.5%
• By 2100: 26,770 · -56.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 6% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Iranian 8% Romanian 3% Lithuanian 2%
• Foreign-born: 5% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Montcalm

• 2024 margin: Solid R (+39.0) · D 29.8% · R 68.7% · Other 1.5%
• 2008→2024 swing: -38.7pp toward R · 2008: -0.3pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+37.7 2016: R+34.0 2012: R+8.6 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.56%
• Current HPI: 305.7702
• 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