1565 M-63 #65 · Benton, MI 49022

$56,900

2 bd · 2.0 ba · 950 sqft · Manufactured · 1 Days on market

Manufactured home Built 1995 Average condition $60/sqft · 65% below area $515/mo HOA · 58% of rent ↓ 12% since listing

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Why this score? — see what drove the F 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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +2.8/5.0
• Appreciation +2.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Cash flow +2.0/30.0
• Schools +0.2/10.0
• DSCR +0.0/10.0
• Manufactured-home adj. -2.4

Key facts

• Built 1995

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $57k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-209 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $27k (53.1% below list).
• Meets the 1% rule at list price ($886 rent vs $57k).
• Recommended offer: $27k (53.1% below list) — sets the bar for cash-flow.
• Cap rate 1.9% vs local median 2.9% in Benton — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Benton Harbor Area Schools (urban): math 4% / reading 7% proficiency, ranked #732 of 760 in MI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fair Plain Middle School (math 0% / reading 4%, grade F, #493 of 493 statewide, top 100%, 288 students, 97% FRL); Fair Plain Middle School (math 0% / reading 4%, grade F, #493 of 493 statewide, top 100%, 288 students, 97% FRL); Benton Harbor High School (math 5% / reading 5%, grade F, #704 of 713 statewide, top 100%, 495 students, 97% FRL).
• Market conditions: 270 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $393 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Berrien County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: HOA is 58% of rent.

Recommended offer $26,704 (53.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.56% ✓
• Cap rate: 1.89%
• Cash-on-cash: -15.72%
• DSCR: 0.30
• GRM: 5.4

CMA / ARV

• ARV (median comp): $160,919
• List price: $56,900
• Delta: -64.64%
• Verdict: UNDERPRICED
• Comps: 14 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1565 N M-63 #53	0.00mi	3/1.0 (+1)	904 (-5%)	3mo	$44,700	$49	80
1565 M-63 #49	0.00mi	2/2.0	840 (-12%)	1mo	$90,000	$107	79
1565 M-63 #94	0.00mi	2/1.5	1,086 (+14%)	5mo	$24,000	$22	70
1565 M-63 #60	0.00mi	2/1.0	728 (-23%)	3mo	$30,000	$41	69
1565 M-63 #63	0.00mi	2/1.0	747 (-21%)	5mo	$67,600	$90	67
542 Campbell Ave	0.92mi	2/1.0	945 (-0%)	13mo	$41,900	$44	49
745 N Shore Dr	1.01mi	2/1.0	900 (-5%)	5mo	$129,000	$143	48
600 Benson Rd	0.42mi	2/1.0	1,176 (+24%)	4mo	$225,000	$191	48
932 Enders Ave	0.79mi	3/2.0 (+1)	1,002 (+6%)	14mo	$155,000	$155	39
1201 Summer St	0.60mi	3/1.0 (+1)	1,049 (+10%)	8mo	$176,000	$168	39
680 Waukonda Ave	1.41mi	3/1.0 (+1)	1,008 (+6%)	12mo	$140,000	$139	36
591 N Winans St	1.30mi	3/1.0 (+1)	840 (-12%)	15mo	$109,000	$130	24

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: -45.4%
• Equity multiple: -0.39×
• Total profit: $-22,181
• Equity at exit: $8,484

10-year hold

• IRR: -74.9%
• Equity multiple: -1.20×
• Total profit: $-35,089
• Equity at exit: $4,920

Cash invested: $15,932 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 2 active · 2 under contract
• Months of supply: 2.4 mo (42%/mo absorbed)
• Median asking: $29,000 ($36/sqft)
• Median days on market: 22 d
• This list price: 100% of active listings are priced below it
• ARV vs active asking: +368.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 49022

• Active inventory: 270
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $886 medium
• Mortgage (P&I): −$298
• Tax est. 1.5%: −$71 /mo · $854/yr
• Insurance: −$24
• HOA: −$515
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $-209

Break-even live

Break-even rent $1,150

Max offer price $26,704

Occupancy floor —

Sensitivity live

Price	-10% $-169	-5% $-189	+0% $-209	+5% $-228	+10% $-248
Rent	-10% $-279	-5% $-244	+0% $-209	+5% $-174	+10% $-139
Rate	-1.0pp $-180	-0.5pp $-194	base $-209	+0.5pp $-223	+1.0pp $-238

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: $14,225
• Closing costs: $1,707
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1003 Colonial Dr Unit 2 Benton Harbor, MI	2.0	1.0	750	$1,150	$1.53	2d	1	1.45mi
1003 Colonial Dr Unit 1 Benton Harbor, MI	2.0	1.0	850	$1,150	$1.35	139d	1	1.45mi

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $515

Exterior

• Utilities: Public water
• Home design: Single-family residenceOne story
• Construction: Vinyl siding
• Exterior features: Public water

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heatingElectric heating
• Interior features: Five total rooms

Listing history 32 events

1. 2026-07-01
   days on marketlisting id $56,900 Active 1 DOM
2. 2026-07-01
   days on market $56,900 Active 178 DOM
3. 2026-06-30
   days on market $56,900 Active 177 DOM
4. 2026-06-29
   days on market $56,900 Active 176 DOM
5. 2026-06-28
   days on market $56,900 Active 175 DOM
6. 2026-06-28
   days on market $56,900 Active 174 DOM
7. 2026-06-27
   days on market $56,900 Active 173 DOM
8. 2026-06-26
   days on market $56,900 Active 172 DOM
9. 2026-06-23
   days on market $56,900 Active 169 DOM
10. 2026-06-22
    days on market $56,900 Active 168 DOM
11. 2026-06-19
    days on market $56,900 Active 166 DOM
12. 2026-06-18
    days on market $56,900 Active 165 DOM
13. 2026-06-17
    days on market $56,900 Active 164 DOM
14. 2026-06-16
    days on market $56,900 Active 163 DOM
15. 2026-06-15
    days on market $56,900 Active 162 DOM
16. 2026-06-14
    days on market $56,900 Active 160 DOM
17. 2026-06-13
    days on market $56,900 Active 159 DOM
18. 2026-06-10
    days on market $56,900 Active 157 DOM
19. 2026-06-09
    days on market $56,900 Active 156 DOM
20. 2026-06-08
    days on market $56,900 Active 155 DOM
21. 2026-06-07
    days on market $56,900 Active 154 DOM
22. 2026-06-03
    days on market $56,900 Active 150 DOM
23. 2026-06-02
    days on market $56,900 Active 149 DOM
24. 2026-06-01
    days on market $56,900 Active 148 DOM
25. 2026-05-31
    days on market $56,900 Active 147 DOM
26. 2026-05-30
    days on market $56,900 Active 146 DOM
27. 2026-03-22
    price $56,900
28. 2026-03-22
    price $56,900
29. 2026-03-22
    price $56,900
30. 2026-01-04
    listed $65,000 Active
31. 2026-01-04
    listed $65,000 Active
32. 2026-01-04
    listed $65,000 Active

ⓘ 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 FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,626
• − Mortgage interest: −$3,187
• − Property taxes: −$854
• − Insurance: −$284
• − Repairs & maintenance: −$850
• − Management: −$850
• − HOA: −$6,180
• − Depreciation: −$1,655
• Taxable loss: −$3,235
• Est. tax savings @ 24.0%: +$776
• After-tax cash flow: $-1,728/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 · 12 photos

Average 55/100 Cosmetic rehab Est. rehab $4,750–$14,250 screening

This manufactured home is in average condition with some cosmetic repairs needed. It has a good layout and could benefit from fresh paint and updated appliances to increase its resale value.

Repairs flagged

• Minor exterior siding — Some wear and tear
• Minor interior walls — Some wear and tear
• Minor kitchen appliances — Black appliances

Value-add opportunities

• Resale Paint interior walls — Fresh paint can make a significant difference in curb appeal ↑
• Resale Replace carpets — Fresh carpets can make a home more appealing to potential buyers ↑
• Resale Update kitchen appliances — Modern appliances can make a home more attractive to potential buyers ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 2/100

Zoned Schools

Elementary Discovery Enrichment Center Middle Fair Plain Middle School F MI #493/493 Nat'l #13,994/14,009

Schools (NCES district)

• District: Benton Harbor Area Schools
• NCES district ID: 2604830
• Math proficiency: 4% ▬ 0.00%
• Reading proficiency: 7% ▬ 0.00%
• Median HH income: $27,038
• Composite: 7.53/100
• National rank: #14787
• State rank: #732 of 760 in MI

Livability — Benton

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

Census & demographics

• County: Berrien · 149,273 people
• Metro: Niles, MI
• Population (ZIP): 29,796
• Household income: $39,859
• Rent vs Own: 41.6% rent · 58.4% own
• Severe rent burden: 12% of renters

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Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 50% White 37% Hispanic / Latino 7% Two or more races 6% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -309.81%
• Current HPI: 209.9723
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $515

Exterior

• Utilities: Public water
• Home design: Single-family residenceOne story
• Construction: Vinyl siding
• Exterior features: Public water

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heatingElectric heating
• Interior features: Five total rooms

Price history

-12.5% since first listed

8 events — show timeline

• 2026-07-01 Listing Removed — MiRealSource-MiMLS
• 2026-06-30 Listing Removed — REALCOMP
• 2026-03-22 Price Changed $56,900 MiRealSource-MiMLS
• 2026-03-22 Price Changed $56,900 REALCOMP
• 2026-03-22 Price Changed $56,900 SW Michigan MLS
• 2026-01-04 Listed $56,900 Greater Lansing AoR
• 2026-01-04 Listed $65,000 REALCOMP
• 2026-01-04 Listed $65,000 MiRealSource-MiMLS