17101 Kropf Ave · Springfield, MI 48350

$24,900

2 bd · 2.0 ba · 1,000 sqft · Manufactured · 61 Days on market

Built 1996 $25/sqft · 88% below area $600/mo HOA · 50% of rent ↓ 26% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.7/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the heart of the Springrove Mobile Home Park featuring a 24 hour fitness center as well as a community pool, basketball courts and storage area for RV's & Boats, this 2 bedroom home is move in ready and waiting for you. The split floor plan offers bedrooms at each end of the home for extra privacy. Primary bedroom has large en-suite with shower & jetted tub. Open kitchen includes appliances. Laundry area with washer & dryer included. Holly Schools and easy access to I-75. Lot rent is $615.00 monthly & includes water. There is a $40.00 application fee for the park. Park approval is required. and

Key facts

• Community pool
• Storage area for rvs
• Easy access to i-75

Tags

• 24 HOUR FITNESS CENTER
• COMMUNITY POOL
• BASKETBALL COURTS
• STORAGE AREA FOR RVS
• EASY ACCESS TO I-75

🏷️ Possibly a rental listed for sale. The $24,900 price doesn't fit this home's estimated sale value (~$215,023) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $25k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.7% vs local median 2.0% in Springfield — 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 65/100 on livability (#472 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools F, amenities F.
• Holly Area School District (town): math 31% / reading 52% proficiency, ranked #165 of 540 in MI (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 46 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago 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.

Risks & watch-outs

• Watch-outs: HOA is 50% of rent.

Recommended offer $23,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 4.82% ✓
• Cap rate: 14.73%
• Cash-on-cash: 30.14%
• DSCR: 2.34
• GRM: 1.7

CMA / ARV

• ARV (median comp): $215,023
• List price: $24,900
• Delta: -88.42%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.7%
• Equity multiple: 2.08×
• Total profit: $7,506
• Equity at exit: $3,713

10-year hold

• IRR: 33.9%
• Equity multiple: 4.22×
• Total profit: $22,471
• Equity at exit: $2,153

Cash invested: $6,972 (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 48350

• Active inventory: 46
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,199 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$600
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $175

Break-even live

Break-even rent $977

Max offer price $24,900

Occupancy floor 80%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16971 Sleepy Hollow Blvd Holly, MI	2.0–4.0	2.0	1246	$1,199	$0.96	1d	1	0.20mi

HOA detail

• Monthly dues: $600 · $7,200/yr
• Likely covers: waterpoolgym

Listing history 25 events

1. 2026-06-18
   days on market $24,900 Active 61 DOM
2. 2026-06-17
   days on market $24,900 Active 60 DOM
3. 2026-06-16
   days on market $24,900 Active 59 DOM
4. 2026-06-15
   days on market $24,900 Active 58 DOM
5. 2026-06-13
   days on market $24,900 Active 56 DOM
6. 2026-06-13
   days on market $24,900 Active 55 DOM
7. 2026-06-09
   days on market $24,900 Active 52 DOM
8. 2026-06-08
   days on market $24,900 Active 51 DOM
9. 2026-06-07
   days on market $24,900 Active 50 DOM
10. 2026-06-04
    days on market $24,900 Active 47 DOM
11. 2026-06-03
    days on market $24,900 Active 46 DOM
12. 2026-06-02
    days on market $24,900 Active 45 DOM
13. 2026-06-01
    days on market $24,900 Active 44 DOM
14. 2026-05-31
    days on market $24,900 Active 43 DOM
15. 2026-04-30
    status Active 636-char remark

    Show marketing remark (637 chars)

    Nestled in the heart of the Springrove Mobile Home Park featuring a 24 hour fitness center as well as a community pool, basketball courts and storage area for RV's & Boats, this 2 bedroom home is move in ready and waiting for you. The split floor plan offers bedrooms at each end of the home for extra privacy. Primary bedroom has large en-suite with shower & jetted tub. Open kitchen includes appliances. Laundry area with washer & dryer included. Holly Schools and easy access to I-75. Lot rent is $615.00 monthly & includes water. There is a $40.00 application fee for the park. Park approval is required. and

16. 2026-04-30
    status Active 637-char remark

    Show marketing remark (637 chars)

    Nestled in the heart of the Springrove Mobile Home Park featuring a 24 hour fitness center as well as a community pool, basketball courts and storage area for RV's & Boats, this 2 bedroom home is move in ready and waiting for you. The split floor plan offers bedrooms at each end of the home for extra privacy. Primary bedroom has large en-suite with shower & jetted tub. Open kitchen includes appliances. Laundry area with washer & dryer included. Holly Schools and easy access to I-75. Lot rent is $615.00 monthly & includes water. There is a $40.00 application fee for the park. Park approval is required. and

17. 2026-04-27
    status Pending 636-char remark

    Show marketing remark (637 chars)

    Nestled in the heart of the Springrove Mobile Home Park featuring a 24 hour fitness center as well as a community pool, basketball courts and storage area for RV's & Boats, this 2 bedroom home is move in ready and waiting for you. The split floor plan offers bedrooms at each end of the home for extra privacy. Primary bedroom has large en-suite with shower & jetted tub. Open kitchen includes appliances. Laundry area with washer & dryer included. Holly Schools and easy access to I-75. Lot rent is $615.00 monthly & includes water. There is a $40.00 application fee for the park. Park approval is required. and

18. 2026-04-27
    status Pending 637-char remark

    Show marketing remark (637 chars)

    Nestled in the heart of the Springrove Mobile Home Park featuring a 24 hour fitness center as well as a community pool, basketball courts and storage area for RV's & Boats, this 2 bedroom home is move in ready and waiting for you. The split floor plan offers bedrooms at each end of the home for extra privacy. Primary bedroom has large en-suite with shower & jetted tub. Open kitchen includes appliances. Laundry area with washer & dryer included. Holly Schools and easy access to I-75. Lot rent is $615.00 monthly & includes water. There is a $40.00 application fee for the park. Park approval is required. and

19. 2026-04-15
    listed $24,900 Active 637-char remark

    Show marketing remark (636 chars)

    Nestled in the heart of the Springrove Mobile Home Park featuring a 24 hour fitness center as well as a community pool, basketball courts and storage area for RV's & Boats, this 2 bedroom home is move in ready and waiting for you. The split floor plan offers bedrooms at each end of the home for extra privacy. Primary bedroom has large en-suite with shower & jetted tub. Open kitchen includes appliances. Laundry area with washer & dryer included. Holly Schools and easy access to I-75. Lot rent is $615.00 monthly & includes water. There is a $40.00 application fee for the park. Park approval is required. and

20. 2026-04-15
    listed $24,900 Active 636-char remark

    Show marketing remark (636 chars)

    Nestled in the heart of the Springrove Mobile Home Park featuring a 24 hour fitness center as well as a community pool, basketball courts and storage area for RV's & Boats, this 2 bedroom home is move in ready and waiting for you. The split floor plan offers bedrooms at each end of the home for extra privacy. Primary bedroom has large en-suite with shower & jetted tub. Open kitchen includes appliances. Laundry area with washer & dryer included. Holly Schools and easy access to I-75. Lot rent is $615.00 monthly & includes water. There is a $40.00 application fee for the park. Park approval is required. and

21. 2024-12-17
    status Pending
22. 2024-05-27
    status Pending
23. 2024-05-27
    status Pending
24. 2024-04-24
    listed $33,500 Active
25. 2024-04-24
    listed $33,500 Active

ⓘ 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: $14,388
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − HOA: −$7,200
• − Depreciation: −$724
• Taxable income: $2,269
• Est. tax owed @ 24.0%: −$545
• After-tax cash flow: $1,557/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: Holly Area School District
• NCES district ID: 2618450
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 52% ▼ -7.00%
• Median HH income: $65,137
• Composite: 37.1/100
• National rank: #4496
• State rank: #165 of 540 in MI

Livability — Springfield

• Score: 65/100
• State rank: #472
• US rank: #13384

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,866

Population outlook (Oakland County) Hauer SSP2

• Today (2025): 1,335,747 people
• By 2030: 1,375,100 · +2.9%
• By 2040: 1,435,385 · +7.5%
• By 2050: 1,469,250 · +10.0%
• By 2075: 1,531,946 · +14.7%
• By 2100: 1,450,485 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, Vietnam

Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -182.53%
• Current HPI: 195.1903
• 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

-25.7% since first listed

11 events — show timeline

• 2026-04-30 Relisted — MiRealSource-MiMLS
• 2026-04-30 Relisted — REALCOMP
• 2026-04-27 Pending — MiRealSource-MiMLS
• 2026-04-27 Pending — REALCOMP
• 2026-04-15 Listed $24,900 REALCOMP
• 2026-04-15 Listed $24,900 MiRealSource-MiMLS
• 2024-12-17 Pending — REALCOMP
• 2024-05-27 Pending — REALCOMP
• 2024-05-27 Pending — MiRealSource-MiMLS
• 2024-04-24 Listed $33,500 MiRealSource-MiMLS
• 2024-04-24 Listed $33,500 REALCOMP