1674 Sunburst St · Grawn, MI 49637

$110,000

3 bd · 1.0 ba · 1,064 sqft · Manufactured public records · 4 Days on market

Built 1986 1.15 ac lot

---

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 +16.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• DSCR +5.0/10.0
• Schools +4.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT OPPORTUNITY 20 MILES AWAY FROM BEAUTIFUL TRAVERSE CITY! 3 Bedroom 1 bath 1986 Mobile home on 1.15 acres of beautiful land. Home updated in 2020 including new windows, new kitchen, new floor, and new doors. Furnace and Central Air roughly 10 years old. Great opportunity for vacation home, affordable living, or investor close to Traverse City. TRAVERSE CITY SCHOOLS! Must See! Call Melissa for more information.

Key facts

• New kitchen
• New doors
• Updated in 2020

Tags

• UPDATED IN 2020
• NEW WINDOWS
• NEW KITCHEN
• NEW FLOOR
• NEW DOORS
• 1.15 ACRES OF LAND

Property features AI

Exterior

• Parking: No garage
• Utilities: Water: Other; Septic tank sewer
• Home design: Single-family residence; One level; Ground-level entry
• Construction: Aluminum siding
• Exterior features: Dirt road access; Lot approximately 1.15 acres (240 x 200)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Crawl space basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $55 ($660/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 6.9% vs local median 2.2% in Grawn — 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 65/100 on livability (#474 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: employment D+, schools F, crime D-.
• Traverse City Area Public Schools (town): math 45% / reading 56% proficiency, ranked #94 of 540 in MI (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 45 active listings in the ZIP; 883 units permitted in Grand Traverse County in 2024 (501 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Grand Traverse County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $45k; list at $110k implies a 144% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.

Recommended offer $110,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.10% ✓
• Cap rate: 6.89%
• Cash-on-cash: 2.14%
• DSCR: 1.10
• GRM: 7.6

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: -12.8%
• Equity multiple: 0.54×
• Total profit: $-14,216
• Equity at exit: $16,401

10-year hold

• IRR: -3.6%
• Equity multiple: 0.76×
• Total profit: $-7,444
• Equity at exit: $9,511

Cash invested: $30,800 (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 49637

• Home prices YoY: -7.8%
• Active inventory: 45
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,209 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$277 /mo · $3,326/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $55

Break-even live

Break-even rent $1,139

Max offer price $110,000

Occupancy floor 90%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-14
   status Pending 417-char remark

   Show marketing remark (417 chars)

   GREAT OPPORTUNITY 20 MILES AWAY FROM BEAUTIFUL TRAVERSE CITY! 3 Bedroom 1 bath 1986 Mobile home on 1.15 acres of beautiful land. Home updated in 2020 including new windows, new kitchen, new floor, and new doors. Furnace and Central Air roughly 10 years old. Great opportunity for vacation home, affordable living, or investor close to Traverse City. TRAVERSE CITY SCHOOLS! Must See! Call Melissa for more information.

2. 2026-04-14
   status Pending

   Show marketing remark (417 chars)

   GREAT OPPORTUNITY 20 MILES AWAY FROM BEAUTIFUL TRAVERSE CITY! 3 Bedroom 1 bath 1986 Mobile home on 1.15 acres of beautiful land. Home updated in 2020 including new windows, new kitchen, new floor, and new doors. Furnace and Central Air roughly 10 years old. Great opportunity for vacation home, affordable living, or investor close to Traverse City. TRAVERSE CITY SCHOOLS! Must See! Call Melissa for more information.

3. 2026-04-09
   listed $110,000 Active

   Show marketing remark (417 chars)

   GREAT OPPORTUNITY 20 MILES AWAY FROM BEAUTIFUL TRAVERSE CITY! 3 Bedroom 1 bath 1986 Mobile home on 1.15 acres of beautiful land. Home updated in 2020 including new windows, new kitchen, new floor, and new doors. Furnace and Central Air roughly 10 years old. Great opportunity for vacation home, affordable living, or investor close to Traverse City. TRAVERSE CITY SCHOOLS! Must See! Call Melissa for more information.

4. 2026-04-09
   listed $110,000 Active 417-char remark

   Show marketing remark (417 chars)

   GREAT OPPORTUNITY 20 MILES AWAY FROM BEAUTIFUL TRAVERSE CITY! 3 Bedroom 1 bath 1986 Mobile home on 1.15 acres of beautiful land. Home updated in 2020 including new windows, new kitchen, new floor, and new doors. Furnace and Central Air roughly 10 years old. Great opportunity for vacation home, affordable living, or investor close to Traverse City. TRAVERSE CITY SCHOOLS! Must See! Call Melissa for more information.

5. 2016-05-10
   soldstatus $45,000
6. 2014-06-13
   soldstatus $39,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $3,326 · $277/mo
• Projected year-2 tax: $3,326 · $277/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°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: $14,505
• − Mortgage interest: −$6,162
• − Property taxes: −$3,326
• − Insurance: −$550
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$3,200
• Taxable loss: −$1,054
• Est. tax savings @ 24.0%: +$253
• After-tax cash flow: $913/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: Traverse City Area Public Schools
• NCES district ID: 2633870
• Math proficiency: 45% ▼ -3.00%
• Reading proficiency: 56% ▼ -6.00%
• Median HH income: $53,645
• Composite: 43.51/100
• National rank: #2990
• State rank: #94 of 540 in MI

Livability — Grawn

• Score: 65/100
• State rank: #474
• US rank: #13420

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grawn, MI
• Population (ZIP): 3,535

Population outlook (Grand Traverse County) Hauer SSP2

• Today (2025): 102,241 people
• By 2030: 107,172 · +4.8%
• By 2040: 115,676 · +13.1%
• By 2050: 122,377 · +19.7%
• By 2075: 136,554 · +33.6%
• By 2100: 137,871 · +34.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Lithuanian 7% Slovak 6% Romanian 6%
• Foreign-born: 1% · Canada

Political lean MEDSL · Grand Traverse

• 2024 margin: Toss-up / Even · D 48.3% · R 50.1% · Other 1.6%
• 2008→2024 swing: +1.3pp toward D · 2008: -3.0pp · 2024: -1.7pp
• All cycles: 2024: R+1.7 2020: R+3.0 2016: R+12.5 2012: R+11.8 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -35.74%
• Current HPI: 420.9091
• 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

Price history

+178.5% since first listed

6 events — show timeline

• 2026-04-14 Pending — MiRealSource-MiMLS
• 2026-04-14 Pending — REALCOMP
• 2026-04-09 Listed $110,000 REALCOMP
• 2026-04-09 Listed $110,000 MiRealSource-MiMLS
• 2016-05-10 Sold (Public Records) $45,000 Public Records
• 2014-06-13 Sold (Public Records) $39,500 Public Records

Property tax history

+11.6%/yr

Latest (2025): $3,326 · +78.8% YoY. Source: county tax records.