1587 David Pl · Garfield, MI 49686

$69,900

3 bd · 1.0 ba · 1,600 sqft · Other public records · 310 Days on market

Built 1997 Good condition $44/sqft · 33% above area Est $53k · 33% over ↓ 3% since listing

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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 +4.4/10.0
• Condition / age +3.8/5.0
• Livability +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

Key facts

• Gas hot water heater
• Front covered porch
• Nicely treed lot

Tags

• UPDATED DOUBLE WIDE
• FRONT COVERED PORCH
• SIDE COVERED PORCH
• NICELY TREED LOT
• UPDATED FURNACE
• GAS HOT WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Tcaps Montessori School (math 52% / reading 57%, grade C, #276 of 1,397 statewide, top 22%, 307 students, 26% FRL); East Middle School (math 45% / reading 55%, grade C, #117 of 493 statewide, top 25%, 786 students, 38% FRL); Central High School (math 52% / reading 72%, grade B-, #58 of 713 statewide, top 9%, 1,387 students, 29% FRL) — zoned schools at 31% FRL track the district average.
• Market conditions: Rents soft (-0.5%/yr); 328 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 883 units permitted in Grand Traverse County in 2024 (501 in 5+ unit buildings).
• This rent runs 36% of the median local income ($72k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 310 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 5 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 $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 310 days. Have you received any prior offers? Is the seller open to a 12% 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: 3.03% ✓
• Cap rate: 27.93%
• Cash-on-cash: 77.27%
• DSCR: 4.44
• GRM: 2.7

CMA / ARV

• ARV (median comp): $52,641
• List price: $69,900
• Delta: 32.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 74.0%
• Equity multiple: 4.20×
• Total profit: $62,720
• Equity at exit: $10,422

10-year hold

• IRR: 77.0%
• Equity multiple: 7.84×
• Total profit: $133,930
• Equity at exit: $6,044

Cash invested: $19,572 (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 49686

• Rents YoY: -0.5%
• Active inventory: 328
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $2,119 high
• Mortgage (P&I): −$367
• Tax from tax record: −$18 /mo · $219/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $1,260

Break-even live

Break-even rent $524

Max offer price $69,900

Occupancy floor 36%

Sensitivity live

Price	-10% $1,300	-5% $1,280	+0% $1,260	+5% $1,241	+10% $1,221
Rent	-10% $1,093	-5% $1,177	+0% $1,260	+5% $1,344	+10% $1,428
Rate	-1.0pp $1,295	-0.5pp $1,278	base $1,260	+0.5pp $1,242	+1.0pp $1,224

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1585 Ray Blvd Traverse City, MI	3.0	2.0	1246	$1,699	$1.36	45d	1	0.22mi
1555 Ridge Blvd Traverse City, MI	3.0	1.0–2.0	1059	$2,225	$2.10	46d	1	0.30mi
1555 Ridge Blvd Traverse City, MI	2.0	1.0–2.0	1063	$1,935	$1.82	45d	11	0.30mi
2944 Glen Dr Traverse City, MI	3.0	2.0	1165	$1,800	$1.55	45d	1	0.35mi
1021 Manitou Dr Unit 3 Bedroom/2 Bathroom Waitlist Traverse City, MI	3.0	2.0	1330	$2,000	$1.50	45d	1	0.66mi
1021 Manitou Dr Unit 2 Bedroom/1 Bathroom Waitlist Traverse City, MI	2.0	1.0	1056	$1,700	$1.61	45d	1	0.66mi
1560 Simsbury St Traverse City, MI	2.0–3.0	1.5–2.0	1293	$2,775	$2.15	45d	8	1.28mi
1542 Simsbury St #7 Traverse City, MI	3.0	2.0	1446	$2,775	$1.92	45d	1	1.29mi

Listing history 26 events

1. 2026-06-21
   days on market $69,900 Active 310 DOM
2. 2026-06-19
   days on market $69,900 Active 308 DOM
3. 2026-06-18
   days on market $69,900 Active 307 DOM
4. 2026-06-17
   days on market $69,900 Active 306 DOM
5. 2026-06-16
   days on market $69,900 Active 305 DOM
6. 2026-06-15
   days on market $69,900 Active 304 DOM
7. 2026-06-14
   days on market $69,900 Active 302 DOM
8. 2026-06-12
   days on market $69,900 Active 301 DOM
9. 2026-06-09
   days on market $69,900 Active 298 DOM
10. 2026-06-08
    days on market $69,900 Active 297 DOM
11. 2026-06-07
    days on market $69,900 Active 296 DOM
12. 2026-06-03
    days on market $69,900 Active 292 DOM
13. 2026-06-02
    days on market $69,900 Active 291 DOM
14. 2026-06-01
    days on market $69,900 Active 290 DOM
15. 2026-05-31
    days on market $69,900 Active 289 DOM
16. 2026-05-30
    days on market $69,900 Active 288 DOM
17. 2026-03-31
    status Active 692-char remark

    Show marketing remark (692 chars)

    Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

18. 2026-03-27
    historical 692-char remark

    Show marketing remark (692 chars)

    Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

19. 2025-11-18
    price $69,900 692-char remark

    Show marketing remark (692 chars)

    Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

20. 2025-11-17
    price $69,900 692-char remark

    Show marketing remark (692 chars)

    Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

21. 2025-11-12
    status Active 692-char remark

    Show marketing remark (692 chars)

    Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

22. 2025-11-12
    status Back on Market 692-char remark

    Show marketing remark (692 chars)

    Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

23. 2025-11-12
    historical 692-char remark

    Show marketing remark (692 chars)

    Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

24. 2025-11-12
    historical 692-char remark

    Show marketing remark (692 chars)

    Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

25. 2025-08-11
    listed $72,000 Active 692-char remark

    Show marketing remark (692 chars)

    Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

26. 2025-08-11
    listed $72,000 Active 692-char remark

    Show marketing remark (692 chars)

    Located in Kings Court mobile home community is this updated double wide. From the front porch there is a slider which will take you to the dining area, overlooking a very spacious living room. The kitchen has plenty of work space and cabinets, separate laundry room, updated furnace and gas hot water heater. 3 bedrooms and 2 baths are at the rear of home with a beautiful master bath with tub and separate shower. You will enjoy the front covered 10 x 14 porch and side covered porch all on a nicely treed lot. Currently lot rent $741 + water+sewer+trash+cable+pets. Only 2 pets allowed. You must be approved to live in the park. Perfect located just off of LaFrainer. Rm size sq ft approx.

ⓘ 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: $219 · $18/mo
• Projected year-2 tax: $648 · $54/mo
• Expected delta: +$429/yr (+$36/mo · 195.8%)

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

Taxation est. · year 1

• Rental income: $25,431
• − Mortgage interest: −$3,915
• − Property taxes: −$219
• − Insurance: −$350
• − Repairs & maintenance: −$2,034
• − Management: −$2,034
• − Depreciation: −$2,033
• Taxable income: $14,845
• Est. tax owed @ 24.0%: −$3,563
• After-tax cash flow: $11,561/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 75/100 Cosmetic rehab

This updated double-wide mobile home in Kings Court community is in good condition with minimal repairs needed. It offers a spacious living area, updated kitchen, and a beautiful master bath. The property is located in a nicely treed lot and is currently rented for $741 + utilities. Potential buyers and renters can expect a good return on investment with minor updates.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics.
• Both Updating the kitchen cabinets and countertops — Modernizing the kitchen can increase both resale and rental value.
• Both Upgrading the HVAC system — A more efficient HVAC system can improve comfort and energy efficiency, attracting more buyers and renters.
• Both Landscaping improvements — Well-maintained landscaping can enhance curb appeal and attract more potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics. ↑
• Both Updating the kitchen cabinets and countertops — Modernizing the kitchen can increase both resale and rental value. ↑
• Both Upgrading the HVAC system — A more efficient HVAC system can improve comfort and energy efficiency, attracting more buyers and renters. ↑
• Both Landscaping improvements — Well-maintained landscaping can enhance curb appeal and attract more potential buyers and renters. ↑

ⓘ 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: 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 — Garfield

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

Census & demographics

• County: Grand Traverse County · 47,077 people
• Metro: Traverse City, MI
• Population (ZIP): 25,492
• Household income: $71,609
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 676.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 5% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 11% Lithuanian 5% Slovak 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -276.28%
• Current HPI: 352.4866
• Rent YoY: ▼ -0.49%
• Metro: Traverse City, 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

-2.9% since first listed

10 events — show timeline

• 2026-03-31 Relisted — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2025-11-18 Price Changed $69,900 MiRealSource-MiMLS
• 2025-11-17 Price Changed $69,900 REALCOMP
• 2025-11-12 Relisted — REALCOMP
• 2025-11-12 Relisted — MiRealSource-MiMLS
• 2025-11-12 Listing Removed — MiRealSource-MiMLS
• 2025-11-12 Listing Removed — REALCOMP
• 2025-08-11 Listed $72,000 REALCOMP
• 2025-08-11 Listed $72,000 MiRealSource-MiMLS

Property tax history

-7.9%/yr

Latest (2025): $219 · -7.9% YoY. Source: county tax records.