Champion Skyline PG B928P Plan · Martin, MI 49344

$175,900

4 bd · 2.0 ba · 1,568 sqft · Manufactured · 945 Days on market

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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 +14.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• Listed 945 days

Property features AI

Finance

• Financial info: List price $175,900

Exterior

• Home design: Single-family plan home; Address: Shelbyville, MI 49344
• Exterior features: Living area of 1568 (listed)

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 bathrooms (both full)
• Interior features: Plan home — Champion Skyline PG B928P

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $176k.

Deal economics

• At list price, monthly cash flow is $36 ($432/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (9.9% below list).
• Recommended offer: $155k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.5% vs local median 1.5% in Martin — 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 64/100 on livability (#491 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, crime D+, amenities F.
• Delton Kellogg Schools (rural): math 27% / reading 40% proficiency, ranked #300 of 540 in MI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 945 days — a 12% lower offer ($155k) is reasonable based on typical stale-listing flexibility.

Recommended offer $154,792 (12.0% below list)

Questions for the listing agent

1. It's been on market 945 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.88%
• DSCR: 1.04
• GRM: 9.3

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-26,188
• Equity at exit: $26,227

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-19,756
• Equity at exit: $15,209

Cash invested: $49,252 (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 49344

• Home prices YoY: -24.1%
• Active inventory: 29
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,584 medium
• Mortgage (P&I): −$922
• Tax est. 1.5%: −$220 /mo · $2,638/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $36

Break-even live

Break-even rent $1,539

Max offer price $175,900

Occupancy floor 93%

Sensitivity live

Price	-10% $158	-5% $97	+0% $36	+5% $-25	+10% $-86
Rent	-10% $-89	-5% $-27	+0% $36	+5% $99	+10% $161
Rate	-1.0pp $125	-0.5pp $81	base $36	+0.5pp $-10	+1.0pp $-56

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: $43,975
• Closing costs: $5,277
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-19
   days on market $175,900 Active 945 DOM
2. 2026-06-18
   days on market $175,900 Active 944 DOM
3. 2026-06-17
   days on market $175,900 Active 943 DOM
4. 2026-06-16
   days on market $175,900 Active 942 DOM
5. 2026-06-15
   days on market $175,900 Active 941 DOM
6. 2026-06-14
   days on market $175,900 Active 939 DOM
7. 2026-06-13
   days on market $175,900 Active 938 DOM
8. 2026-06-10
   days on market $175,900 Active 936 DOM
9. 2026-06-09
   days on market $175,900 Active 935 DOM
10. 2026-06-08
    days on market $175,900 Active 934 DOM
11. 2026-06-07
    days on market $175,900 Active 933 DOM
12. 2026-06-03
    days on market $175,900 Active 929 DOM
13. 2026-06-02
    days on market $175,900 Active 928 DOM
14. 2026-06-01
    days on market $175,900 Active 927 DOM
15. 2026-05-31
    days on market $175,900 Active 926 DOM
16. 2026-05-30
    days on market $175,900 Active 925 DOM

ⓘ 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: $19,011
• − Mortgage interest: −$9,853
• − Property taxes: −$2,638
• − Insurance: −$880
• − Repairs & maintenance: −$1,521
• − Management: −$1,521
• − Depreciation: −$5,117
• Taxable loss: −$2,519
• Est. tax savings @ 24.0%: +$604
• After-tax cash flow: $1,036/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: Delton Kellogg Schools
• NCES district ID: 2611910
• Math proficiency: 27% ▼ -6.00%
• Reading proficiency: 40% ▼ -1.00%
• Median HH income: $53,057
• Composite: 29.35/100
• National rank: #6538
• State rank: #300 of 540 in MI

Livability — Martin

• Score: 64/100
• State rank: #491
• US rank: #14351

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 2,192
• Population (ZIP): 4,139

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 16% Romanian 7% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 91% English-only · Spanish 8% Other Asian/Pacific 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: ▼ -74.27%
• Current HPI: 234.1713
• 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