Real Estate Investing in Manistee, Michigan (49660)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49660 (Manistee, MI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 25.5% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Manistee, MI (49660)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 49660 Manistee
ZIP 49660 inside Manistee County looks affordable on the surface — median value of $273K — but the discount exists for reasons that a careful buyer should understand before committing.
For an experienced owner, 49660 can be a a strong candidate for hunting ground — but the discount at $273K reflects genuine risk that outside investors often underestimate.
The gap between 49660 and stronger Manistee ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Demographically, 49660 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
trends toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Manistee:
Property Strategy for 49660
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $242,844 | $1,040 | 3.1% | +10.4% | $121,422 |
| 3BR | $258,224 | $1,320 | 3.7% | +10.7% | $86,075 |
| 4BR | $303,211 | $1,380 | 3.3% | +9.9% | $75,803 |
| 5BR | $369,853 | — | — | +10.0% | $73,971 |
Market Trends
Home Value History (with trend line)
📊 How Does 49660 Compare?
| Metric | 49660 | Manistee | Ludington, MI | Michigan |
|---|---|---|---|---|
| Home Value | $273,387 | $273,387 | N/A | $253,279 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 6.8% |
| Avg Rent | $936 | $936 | N/A | - |
| Cap Rate | 2.7% | 2.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 49660 (Manistee, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $273,387 |
| Monthly Rent | $936 |
| Price-to-Rent | 24.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.7% |
| 5-Year IRR | 8.8% |
📈 Home Appreciation
| 1-Year | +12.2% ▲ |
| 3-Year CAGR | +5.4% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 49660
Population: 14,501
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 49660
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Are eviction rules reasonable in Manistee, MI?
Landlord-friendliness in Manistee, MI is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is it easy to find good tenants in Manistee, MI?
Manistee, MI draws a stable base of working renters. Demand at the $936/mo rent level is reasonable for standard single-family and small multi rentals.
How should investors approach Manistee, MI?
The best-fit strategy in Manistee, MI is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is Manistee, MI a good market for buy-and-hold investors?
With a 3.0/5 investability score, Manistee, MI ranks as a solid market for rental property investors. Median prices of $273K and rents of $936/mo drive the underlying numbers.
Where do home prices stand in Manistee, MI?
In Manistee, MI the median home value sits at $273K. Against the broader MI market, that reads as reasonable for most investors.
You know 49660 now. You don’t know where it ranks.
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How 49660 ranks in Ludington, MI
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