69205 Garver Lake Rd Lot 9 · Edwardsburg, MI 49112

$71,000

3 bd · 2.0 ba · 1,152 sqft · SingleFamily · 63 Days on market

Built 2023 Excellent condition $62/sqft · 45% below area Est $129k · 45% under $475/mo HOA · 32% of rent ↓ 23% since listing

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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 +26.9/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• Schools +5.0/10.0
• Condition / age +4.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Edwardsburg School District! Located in the community of Colonial Acres, this stunning residence boasts over 1,150 square feet of meticulously maintained living space. This three bedroom, two full bathroom home offers private parking, open concept floor plan, laundry area, oversized attached deck & more! Constructed in 2023. Don't miss your chance to call this move in ready home your own - schedule a showing today and prepare to fall in love with everything it has to offer. Welcome home!

Key facts

• Garage
• Built 2023
• Listed 62 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $71k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $197 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $71k).
• Recommended offer: $67k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.8% in Edwardsburg — 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 74/100 on livability (#166 in MI, #4,375 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Edwardsburg Public Schools (suburban): math 51% / reading 66% proficiency, ranked #52 of 540 in MI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 124 active listings in the ZIP; 128 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $491 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 63 days — a 6% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $8k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $66,740 (6.0% below list)

Questions for the listing agent

1. It's been on market 63 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 2.07% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.87%
• DSCR: 1.53
• GRM: 4.0

CMA / ARV

• ARV (median comp): $128,974
• List price: $71,000
• Delta: -44.95%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69205 Garver Lake Rd #110	0.00mi	3/2.0	1,152 (0%)	21mo	$85,900	$75	83
69205 Garver Lake Rd #2	0.03mi	3/2.0	1,140 (-1%)	18mo	$58,000	$51	82
69205 Garver Rd #75	0.00mi	3/2.0	1,125 (-2%)	21mo	$57,000	$51	78

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: 1.7%
• Equity multiple: 1.07×
• Total profit: $1,335
• Equity at exit: $10,586

10-year hold

• IRR: 11.7%
• Equity multiple: 1.93×
• Total profit: $18,567
• Equity at exit: $6,139

Cash invested: $19,880 (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 49112

• Active inventory: 124
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,471 medium
• Mortgage (P&I): −$372
• Tax est. 1.5%: −$89 /mo · $1,065/yr
• Insurance: −$30
• HOA: −$475
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $197

Break-even live

Break-even rent $1,222

Max offer price $71,000

Occupancy floor 82%

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: $17,750
• Closing costs: $2,130
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $475 · $5,700/yr

Listing history 49 events

1. 2026-06-19
   days on market $71,000 Active 63 DOM
2. 2026-06-18
   days on market $71,000 Active 62 DOM
3. 2026-06-17
   days on market $71,000 Active 61 DOM
4. 2026-06-16
   days on market $71,000 Active 60 DOM
5. 2026-06-15
   days on market $71,000 Active 59 DOM
6. 2026-06-14
   days on market $71,000 Active 57 DOM
7. 2026-06-13
   days on market $71,000 Active 56 DOM
8. 2026-06-10
   days on market $71,000 Active 54 DOM
9. 2026-06-09
   days on market $71,000 Active 53 DOM
10. 2026-06-08
    days on market $71,000 Active 52 DOM
11. 2026-06-07
    days on market $71,000 Active 51 DOM
12. 2026-06-05
    days on market $71,000 Active 48 DOM
13. 2026-06-03
    days on market $71,000 Active 47 DOM
14. 2026-06-02
    pricedays on market $71,000 Active 46 DOM
15. 2026-06-01
    days on market $74,000 Active 45 DOM
16. 2026-05-31
    days on market $74,000 Active 44 DOM
17. 2026-05-30
    days on market $74,000 Active 43 DOM
18. 2026-05-08
    price $74,000 498-char remark

    Show marketing remark (498 chars)

    Edwardsburg School District! Located in the community of Colonial Acres, this stunning residence boasts over 1,150 square feet of meticulously maintained living space. This three bedroom, two full bathroom home offers private parking, open concept floor plan, laundry area, oversized attached deck & more! Constructed in 2023. Don't miss your chance to call this move in ready home your own - schedule a showing today and prepare to fall in love with everything it has to offer. Welcome home!

19. 2026-05-08
    price $74,000 498-char remark

    Show marketing remark (498 chars)

    Edwardsburg School District! Located in the community of Colonial Acres, this stunning residence boasts over 1,150 square feet of meticulously maintained living space. This three bedroom, two full bathroom home offers private parking, open concept floor plan, laundry area, oversized attached deck & more! Constructed in 2023. Don't miss your chance to call this move in ready home your own - schedule a showing today and prepare to fall in love with everything it has to offer. Welcome home!

20. 2026-05-08
    price $74,000

    Show marketing remark (498 chars)

    Edwardsburg School District! Located in the community of Colonial Acres, this stunning residence boasts over 1,150 square feet of meticulously maintained living space. This three bedroom, two full bathroom home offers private parking, open concept floor plan, laundry area, oversized attached deck & more! Constructed in 2023. Don't miss your chance to call this move in ready home your own - schedule a showing today and prepare to fall in love with everything it has to offer. Welcome home!

21. 2026-04-17
    listed $79,000 Active 498-char remark

    Show marketing remark (498 chars)

    Edwardsburg School District! Located in the community of Colonial Acres, this stunning residence boasts over 1,150 square feet of meticulously maintained living space. This three bedroom, two full bathroom home offers private parking, open concept floor plan, laundry area, oversized attached deck & more! Constructed in 2023. Don't miss your chance to call this move in ready home your own - schedule a showing today and prepare to fall in love with everything it has to offer. Welcome home!

22. 2026-04-17
    listed $79,000 Active 498-char remark

    Show marketing remark (498 chars)

    Edwardsburg School District! Located in the community of Colonial Acres, this stunning residence boasts over 1,150 square feet of meticulously maintained living space. This three bedroom, two full bathroom home offers private parking, open concept floor plan, laundry area, oversized attached deck & more! Constructed in 2023. Don't miss your chance to call this move in ready home your own - schedule a showing today and prepare to fall in love with everything it has to offer. Welcome home!

23. 2026-04-17
    listed $79,000 Active

    Show marketing remark (498 chars)

    Edwardsburg School District! Located in the community of Colonial Acres, this stunning residence boasts over 1,150 square feet of meticulously maintained living space. This three bedroom, two full bathroom home offers private parking, open concept floor plan, laundry area, oversized attached deck & more! Constructed in 2023. Don't miss your chance to call this move in ready home your own - schedule a showing today and prepare to fall in love with everything it has to offer. Welcome home!

24. 2026-03-31
    historical
25. 2026-03-30
    historical
26. 2026-03-25
    price $79,000
27. 2026-03-25
    price $79,000
28. 2026-03-25
    price $79,000
29. 2025-10-27
    price $81,000
30. 2025-10-26
    price $81,000
31. 2025-10-26
    price $81,000
32. 2025-10-01
    listed $86,000 Active
33. 2025-09-30
    listed $86,000 Active
34. 2025-09-23
    historical
35. 2025-09-22
    historical
36. 2025-05-13
    price $86,000
37. 2025-05-13
    price $86,000
38. 2025-05-13
    price $86,000
39. 2024-11-07
    price $88,000
40. 2024-11-07
    price $88,000
41. 2024-11-06
    price $88,000
42. 2024-09-12
    price $90,000
43. 2024-09-12
    price $90,000
44. 2024-09-12
    price $90,000
45. 2024-08-13
    price $92,000
46. 2024-08-13
    price $92,000
47. 2024-08-13
    price $92,000
48. 2024-07-23
    listed $95,500 Active
49. 2024-07-23
    listed $95,500 Active

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

Taxation est. · year 1

• Rental income: $17,656
• − Mortgage interest: −$3,977
• − Property taxes: −$1,065
• − Insurance: −$355
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − HOA: −$5,700
• − Depreciation: −$2,065
• Taxable income: $1,668
• Est. tax owed @ 24.0%: −$400
• After-tax cash flow: $1,960/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 · 13 photos

Excellent 95/100 None rehab

This move-in ready home in Edwardsburg School District offers a well-maintained interior and exterior, with no visible repairs needed. It's a great opportunity for investors looking to increase value through minor updates.

Value-add opportunities

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping the front yard — Improves curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping the front yard — Improves curb appeal and can increase both resale and rental value ↑

ⓘ 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: Edwardsburg Public Schools
• NCES district ID: 2612990
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $55,372
• Composite: 50.29/100
• National rank: #1883
• State rank: #52 of 540 in MI

Livability — Edwardsburg

• Score: 74/100
• State rank: #166
• US rank: #4375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,436

Population outlook (Cass County) Hauer SSP2

• Today (2025): 49,919 people
• By 2030: 48,320 · -3.2%
• By 2040: 44,230 · -11.4%
• By 2050: 39,852 · -20.2%
• By 2075: 31,440 · -37.0%
• By 2100: 23,914 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Romanian 5% Iranian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+33.9) · D 32.5% · R 66.4% · Other 1.1%
• 2008→2024 swing: -38.0pp toward R · 2008: 4.1pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+28.9 2016: R+29.9 2012: R+13.7 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.26%
• Current HPI: 183.898
• 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

-22.5% since first listed

32 events — show timeline

• 2026-05-08 Price Changed $74,000 MiRealSource-MiMLS
• 2026-05-08 Price Changed $74,000 REALCOMP
• 2026-05-08 Price Changed $74,000 SW Michigan MLS
• 2026-04-17 Listed $79,000 SW Michigan MLS
• 2026-04-17 Listed $79,000 REALCOMP
• 2026-04-17 Listed $79,000 MiRealSource-MiMLS
• 2026-03-31 Listing Removed — MiRealSource-MiMLS
• 2026-03-30 Listing Removed — REALCOMP
• 2026-03-25 Price Changed $79,000 MiRealSource-MiMLS
• 2026-03-25 Price Changed $79,000 REALCOMP
• 2026-03-25 Price Changed $79,000 SW Michigan MLS
• 2025-10-27 Price Changed $81,000 MiRealSource-MiMLS
• 2025-10-26 Price Changed $81,000 REALCOMP
• 2025-10-26 Price Changed $81,000 SW Michigan MLS
• 2025-10-01 Listed $86,000 REALCOMP
• 2025-09-30 Listed $86,000 MiRealSource-MiMLS
• 2025-09-23 Listing Removed — MiRealSource-MiMLS
• 2025-09-22 Listing Removed — REALCOMP
• 2025-05-13 Price Changed $86,000 MiRealSource-MiMLS
• 2025-05-13 Price Changed $86,000 REALCOMP
• 2025-05-13 Price Changed $86,000 SW Michigan MLS
• 2024-11-07 Price Changed $88,000 MiRealSource-MiMLS
• 2024-11-07 Price Changed $88,000 REALCOMP
• 2024-11-06 Price Changed $88,000 SW Michigan MLS
• 2024-09-12 Price Changed $90,000 MiRealSource-MiMLS
• 2024-09-12 Price Changed $90,000 REALCOMP
• 2024-09-12 Price Changed $90,000 SW Michigan MLS
• 2024-08-13 Price Changed $92,000 MiRealSource-MiMLS
• 2024-08-13 Price Changed $92,000 REALCOMP
• 2024-08-13 Price Changed $92,000 SW Michigan MLS
• 2024-07-23 Listed $95,500 REALCOMP
• 2024-07-23 Listed $95,500 MiRealSource-MiMLS