3593 Millrace Ct SE · Kentwood, MI 49316

$50,000

2 bd · 2.0 ba · 900 sqft · Manufactured · 54 Days on market

Built 1982 Est $41k · 21% over

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Why this score? — see what drove the C+ 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
• Schools +5.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Financing may be available for qualified buyers--call for details. This 2-bedroom, 2-bath manufactured home is located in Dutton Mills, a well-kept community in Caledonia offering comfortable, low-maintenance living. The home features a functional layout with generous living space and central air. Conveniently located near shopping, dining, and major roadways. Whether you're downsizing, purchasing your first home, or seeking simplified living, this property is worth a look. Schedule your showing today.

Key facts

• Built 1982
• Listed 54 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $991 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.1% vs local median 3.7% in Kentwood — 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 74/100 on livability (#191 in MI, #4,892 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: commute C-, crime D, amenities F.
• Caledonia Community Schools (suburban): math 58% / reading 68% proficiency, ranked #26 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 253 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 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 $48,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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. 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.
6. 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.
7. 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: 3.38% ✓
• Cap rate: 30.09%
• Cash-on-cash: 84.99%
• DSCR: 4.78
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $41,400
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3593 Millrace Ct SE	0.00mi	2/2.0	900 (0%)	1mo	$41,000	$46	100

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: 85.4%
• Equity multiple: 4.93×
• Total profit: $55,072
• Equity at exit: $7,455

10-year hold

• IRR: 88.6%
• Equity multiple: 10.24×
• Total profit: $129,374
• Equity at exit: $4,323

Cash invested: $14,000 (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 49316

• Home prices YoY: -33.4%
• Active inventory: 253
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,692 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $991

Break-even live

Break-even rent $437

Max offer price $50,000

Occupancy floor 36%

Sensitivity live

Price	-10% $1,026	-5% $1,009	+0% $991	+5% $974	+10% $957
Rent	-10% $858	-5% $925	+0% $991	+5% $1,058	+10% $1,125
Rate	-1.0pp $1,017	-0.5pp $1,004	base $991	+0.5pp $979	+1.0pp $965

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6479 W River RD NE Caledonia, MI	1.0	1.5	924	$1,580	$1.71	3d	1	0.78mi

Listing history 6 events

1. 2026-02-18
   status Pending 507-char remark

   Show marketing remark (507 chars)

   Financing may be available for qualified buyers--call for details. This 2-bedroom, 2-bath manufactured home is located in Dutton Mills, a well-kept community in Caledonia offering comfortable, low-maintenance living. The home features a functional layout with generous living space and central air. Conveniently located near shopping, dining, and major roadways. Whether you're downsizing, purchasing your first home, or seeking simplified living, this property is worth a look. Schedule your showing today.

2. 2026-02-18
   status Pending 507-char remark

   Show marketing remark (507 chars)

   Financing may be available for qualified buyers--call for details. This 2-bedroom, 2-bath manufactured home is located in Dutton Mills, a well-kept community in Caledonia offering comfortable, low-maintenance living. The home features a functional layout with generous living space and central air. Conveniently located near shopping, dining, and major roadways. Whether you're downsizing, purchasing your first home, or seeking simplified living, this property is worth a look. Schedule your showing today.

3. 2026-02-18
   status Pending

   Show marketing remark (507 chars)

   Financing may be available for qualified buyers--call for details. This 2-bedroom, 2-bath manufactured home is located in Dutton Mills, a well-kept community in Caledonia offering comfortable, low-maintenance living. The home features a functional layout with generous living space and central air. Conveniently located near shopping, dining, and major roadways. Whether you're downsizing, purchasing your first home, or seeking simplified living, this property is worth a look. Schedule your showing today.

4. 2025-12-24
   listed $50,000 Active 507-char remark

   Show marketing remark (507 chars)

   Financing may be available for qualified buyers--call for details. This 2-bedroom, 2-bath manufactured home is located in Dutton Mills, a well-kept community in Caledonia offering comfortable, low-maintenance living. The home features a functional layout with generous living space and central air. Conveniently located near shopping, dining, and major roadways. Whether you're downsizing, purchasing your first home, or seeking simplified living, this property is worth a look. Schedule your showing today.

5. 2025-12-24
   listed $50,000 Active 507-char remark

   Show marketing remark (507 chars)

   Financing may be available for qualified buyers--call for details. This 2-bedroom, 2-bath manufactured home is located in Dutton Mills, a well-kept community in Caledonia offering comfortable, low-maintenance living. The home features a functional layout with generous living space and central air. Conveniently located near shopping, dining, and major roadways. Whether you're downsizing, purchasing your first home, or seeking simplified living, this property is worth a look. Schedule your showing today.

6. 2025-12-24
   listed $50,000 Active

   Show marketing remark (507 chars)

   Financing may be available for qualified buyers--call for details. This 2-bedroom, 2-bath manufactured home is located in Dutton Mills, a well-kept community in Caledonia offering comfortable, low-maintenance living. The home features a functional layout with generous living space and central air. Conveniently located near shopping, dining, and major roadways. Whether you're downsizing, purchasing your first home, or seeking simplified living, this property is worth a look. Schedule your showing today.

ⓘ 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: $20,309
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$1,455
• Taxable income: $11,805
• Est. tax owed @ 24.0%: −$2,833
• After-tax cash flow: $9,065/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: Caledonia Community Schools
• NCES district ID: 2607620
• Math proficiency: 58% ▲ 2.00%
• Reading proficiency: 68% ▲ 1.00%
• Median HH income: $75,649
• Composite: 55.98/100
• National rank: #1196
• State rank: #26 of 540 in MI

Livability — Kentwood

• Score: 74/100
• State rank: #191
• US rank: #4892

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 533,805 people
• City population: 130,591
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 26,427
• Household income: $103,238
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 96.0

Population outlook (Kent County) Hauer SSP2

• Today (2025): 712,484 people
• By 2030: 748,618 · +5.1%
• By 2040: 814,777 · +14.4%
• By 2050: 868,556 · +21.9%
• By 2075: 966,487 · +35.7%
• By 2100: 967,975 · +35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 21% Romanian 7% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 92% English-only · Spanish 2% Vietnamese 2% Chinese 1%

Political lean MEDSL · Kent

• 2024 margin: Lean D (+5.4) · D 51.8% · R 46.5% · Other 1.7%
• 2008→2024 swing: +4.8pp toward D · 2008: 0.5pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+6.1 2016: R+3.1 2012: R+7.9 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.75%
• Current HPI: 235.3555
• Rent YoY: —
• Metro: Grand Rapids-Kentwood, MI
• 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

6 events — show timeline

• 2026-02-18 Pending — REALCOMP
• 2026-02-18 Pending — MiRealSource-MiMLS
• 2026-02-18 Pending — SW Michigan MLS
• 2025-12-24 Listed $50,000 SW Michigan MLS
• 2025-12-24 Listed $50,000 MiRealSource-MiMLS
• 2025-12-24 Listed $50,000 REALCOMP