4567 Ashwood · Freeland, MI 48603

$64,900

3 bd · 2.0 ba · 1,033 sqft · Manufactured · 79 Days on market

Built 2017 Good condition 1,080 sqft lot $63/sqft · 54% below area ↓ 4% since listing

---

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
• Rent growth +4.4/5.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Schools +3.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated open-concept 3-bedroom, 2-bath home in Lawndale Estates, move-in ready and waiting for you to call it home. From the moment you step inside, you'll appreciate the stunning hardwood floors that add warmth and elegance throughout the main living space. The thoughtfully updated kitchen is a true highlight, featuring 42-inch cabinets, a spacious pantry, and ample counter space. The large island provides additional prep space and a convenient eating area, making it perfect for everyday living and entertaining alike. Each bedroom offers comfortable space for every member of the family, while the primary suite serves as a relaxing retreat with a generous walk-in closet and a private ensuite bathroom, ideal for unwinding after a long day. Backing up to mature pine trees for added privacy, the outdoor space is just as inviting. Step outside to enjoy the patio area, perfect for outdoor gatherings, along with a handy shed that provides extra storage. This well-maintained mobile home combines style, function, and comfort, truly a must-see. Schedule your showing today!

Key facts

• Open-concept
• Spacious pantry
• 42-inch cabinets

Tags

• OPEN-CONCEPT
• HARDWOOD FLOORS
• UPDATED KITCHEN
• 42-INCH CABINETS
• SPACIOUS PANTRY
• LARGE ISLAND

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $677 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.8% vs local median 3.2% in Freeland — 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 72/100 on livability (#230 in MI) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Saginaw Township Community Schools (suburban): math 27% / reading 45% proficiency, ranked #265 of 540 in MI (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.7%/yr); 156 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Saginaw County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 7.7% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $61,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 2.20% ✓
• Cap rate: 18.82%
• Cash-on-cash: 44.72%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

• ARV (median comp): $141,314
• List price: $64,900
• Delta: -54.07%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.71% rent growth · sell at horizon

5-year hold

• IRR: 47.0%
• Equity multiple: 3.19×
• Total profit: $39,714
• Equity at exit: $9,677

10-year hold

• IRR: 54.8%
• Equity multiple: 7.73×
• Total profit: $122,213
• Equity at exit: $5,611

Cash invested: $18,172 (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 48603

• Rents YoY: 7.7%
• Active inventory: 156
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $677

Break-even live

Break-even rent $568

Max offer price $64,900

Occupancy floor 47%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4509 Longmeadow Blvd W Saginaw, MI	2.0–3.0	1.0–2.0	1056	$1,199	$1.14	43d	1	0.15mi

Listing history 18 events

1. 2026-06-19
   days on market $64,900 Active 79 DOM
2. 2026-06-18
   days on market $64,900 Active 78 DOM
3. 2026-06-17
   days on market $64,900 Active 77 DOM
4. 2026-06-16
   days on market $64,900 Active 76 DOM
5. 2026-06-15
   days on market $64,900 Active 75 DOM
6. 2026-06-14
   days on market $64,900 Active 73 DOM
7. 2026-06-12
   days on market $64,900 Active 72 DOM
8. 2026-06-09
   days on market $64,900 Active 69 DOM
9. 2026-06-08
   days on market $64,900 Active 68 DOM
10. 2026-06-07
    days on market $64,900 Active 67 DOM
11. 2026-06-02
    days on market $64,900 Active 62 DOM
12. 2026-06-01
    days on market $64,900 Active 61 DOM
13. 2026-05-31
    days on market $64,900 Active 60 DOM
14. 2026-05-30
    days on market $64,900 Active 59 DOM
15. 2026-04-23
    price $67,000 1108-char remark

    Show marketing remark (1114 chars)

    Welcome to this beautifully updated open-concept 3-bedroom, 2-bath home in Lawndale Estates, move-in ready and waiting for you to call it home. From the moment you step inside, you’ll appreciate the stunning hardwood floors that add warmth and elegance throughout the main living space. The thoughtfully updated kitchen is a true highlight, featuring 42-inch cabinets, a spacious pantry, and ample counter space. The large island provides additional prep space and a convenient eating area, making it perfect for everyday living and entertaining alike. Each bedroom offers comfortable space for every member of the family, while the primary suite serves as a relaxing retreat with a generous walk-in closet and a private ensuite bathroom, ideal for unwinding after a long day. Backing up to mature pine trees for added privacy, the outdoor space is just as inviting. Step outside to enjoy the patio area, perfect for outdoor gatherings, along with a handy shed that provides extra storage. This well-maintained mobile home combines style, function, and comfort, truly a must-see. Schedule your showing today!

16. 2026-04-23
    price $67,000 1114-char remark

    Show marketing remark (1114 chars)

    Welcome to this beautifully updated open-concept 3-bedroom, 2-bath home in Lawndale Estates, move-in ready and waiting for you to call it home. From the moment you step inside, you’ll appreciate the stunning hardwood floors that add warmth and elegance throughout the main living space. The thoughtfully updated kitchen is a true highlight, featuring 42-inch cabinets, a spacious pantry, and ample counter space. The large island provides additional prep space and a convenient eating area, making it perfect for everyday living and entertaining alike. Each bedroom offers comfortable space for every member of the family, while the primary suite serves as a relaxing retreat with a generous walk-in closet and a private ensuite bathroom, ideal for unwinding after a long day. Backing up to mature pine trees for added privacy, the outdoor space is just as inviting. Step outside to enjoy the patio area, perfect for outdoor gatherings, along with a handy shed that provides extra storage. This well-maintained mobile home combines style, function, and comfort, truly a must-see. Schedule your showing today!

17. 2026-03-27
    listed $69,900 Active 1108-char remark

    Show marketing remark (1114 chars)

    Welcome to this beautifully updated open-concept 3-bedroom, 2-bath home in Lawndale Estates, move-in ready and waiting for you to call it home. From the moment you step inside, you’ll appreciate the stunning hardwood floors that add warmth and elegance throughout the main living space. The thoughtfully updated kitchen is a true highlight, featuring 42-inch cabinets, a spacious pantry, and ample counter space. The large island provides additional prep space and a convenient eating area, making it perfect for everyday living and entertaining alike. Each bedroom offers comfortable space for every member of the family, while the primary suite serves as a relaxing retreat with a generous walk-in closet and a private ensuite bathroom, ideal for unwinding after a long day. Backing up to mature pine trees for added privacy, the outdoor space is just as inviting. Step outside to enjoy the patio area, perfect for outdoor gatherings, along with a handy shed that provides extra storage. This well-maintained mobile home combines style, function, and comfort, truly a must-see. Schedule your showing today!

18. 2026-03-27
    listed $69,900 Active 1114-char remark

    Show marketing remark (1114 chars)

    Welcome to this beautifully updated open-concept 3-bedroom, 2-bath home in Lawndale Estates, move-in ready and waiting for you to call it home. From the moment you step inside, you’ll appreciate the stunning hardwood floors that add warmth and elegance throughout the main living space. The thoughtfully updated kitchen is a true highlight, featuring 42-inch cabinets, a spacious pantry, and ample counter space. The large island provides additional prep space and a convenient eating area, making it perfect for everyday living and entertaining alike. Each bedroom offers comfortable space for every member of the family, while the primary suite serves as a relaxing retreat with a generous walk-in closet and a private ensuite bathroom, ideal for unwinding after a long day. Backing up to mature pine trees for added privacy, the outdoor space is just as inviting. Step outside to enjoy the patio area, perfect for outdoor gatherings, along with a handy shed that provides extra storage. This well-maintained mobile home combines style, function, and comfort, truly a must-see. 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.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,100
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$1,888
• Taxable income: $7,543
• Est. tax owed @ 24.0%: −$1,810
• After-tax cash flow: $6,317/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

Good 80/100 Cosmetic rehab

This move-in ready home features a beautifully updated kitchen, hardwood floors, and good curb appeal. Minor exterior painting and gutter cleaning would further enhance its value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Clean gutters — Clean gutters improve drainage and reduce maintenance costs for tenants.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Clean gutters — Clean gutters improve drainage and reduce maintenance costs for tenants. ↑

ⓘ 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: Saginaw Township Community Schools
• NCES district ID: 2630450
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $48,971
• Composite: 31.01/100
• National rank: #6094
• State rank: #265 of 540 in MI

Livability — Freeland

• Score: 72/100
• State rank: #230
• US rank: #5824

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Saginaw County · 54,884 people
• City population: 15,126
• Metro: Saginaw, MI
• Population (ZIP): 27,757
• Household income: $66,352
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1106.0

Population outlook (Saginaw County) Hauer SSP2

• Today (2025): 180,568 people
• By 2030: 172,302 · -4.6%
• By 2040: 153,919 · -14.8%
• By 2050: 135,519 · -24.9%
• By 2075: 97,199 · -46.2%
• By 2100: 65,037 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 10% Asian 5% Two or more races 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 8% Lithuanian 7% Slovak 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Other Indo-European 3% Spanish 2% Other Asian/Pacific 1%

Political lean MEDSL · Saginaw

• 2024 margin: Toss-up / Even · D 47.7% · R 51.0% · Other 1.4%
• 2008→2024 swing: -20.6pp toward R · 2008: 17.3pp · 2024: -3.3pp
• All cycles: 2024: R+3.3 2020: D+0.3 2016: R+1.1 2012: D+11.9 2008: D+17.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.35%
• Current HPI: 152.7507
• Rent YoY: ▲ 7.71%
• Metro: Saginaw, 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

-4.1% since first listed

4 events — show timeline

• 2026-04-23 Price Changed $67,000 MiRealSource-MiMLS
• 2026-04-23 Price Changed $67,000 REALCOMP
• 2026-03-27 Listed $69,900 REALCOMP
• 2026-03-27 Listed $69,900 MiRealSource-MiMLS