4505 Mobile Trl · Blair, MI 49685

$110,000

2 bd · 1.0 ba · 732 sqft · Manufactured public records · 20 Days on market

Built 1969 0.55 ac lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Seller financing available! This 2-bedroom mobile home offers a great opportunity for someone ready to add their own personal touch. Situated on a spacious lot with a huge fenced-in backyard, the property also features a deck and a large shed that was previously used as a workshop, making it perfect for hobbies, storage, or extra workspace. Inside, the home does need some updating, including paint, flooring, and other cosmetic improvements, but it offers a welcoming layout with a generously sized primary bedroom and a convenient mudroom leading directly to the backyard. Land contract terms are available with $5,000 down, 10.95% interest over 25 years, with approximate monthly payments of $1

Key facts

• Huge backyard
• Deck
• Mudroom

Tags

• FENCED-IN BACKYARD
• HUGE BACKYARD
• DECK
• LARGE SHED
• WORKSHOP
• MUDROOM

Property features AI

Exterior

• Utilities: Well water; Septic tank
• Home design: Single-family residence; Residential property
• Exterior features: Shed(s); Dirt road access; 0.55-acre lot

Interior

• Kitchen: Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Space heater
• Interior features: Vaulted ceilings; Crawl space basement (no finished basement)
• Laundry & utility: Washer and dryer on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — 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.
• Market conditions: 229 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 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 $55k; list at $110k implies a 100% gain — meaningful room to come down on a strong offer.

Recommended offer $108,350 (1.5% below list)

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.31% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.40%
• DSCR: 1.82
• GRM: 6.3

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: 10.1%
• Equity multiple: 1.40×
• Total profit: $12,219
• Equity at exit: $16,401

10-year hold

• IRR: 19.1%
• Equity multiple: 2.60×
• Total profit: $49,232
• 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 49685

• Active inventory: 229
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,445 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$47 /mo · $558/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $472

Break-even live

Break-even rent $847

Max offer price $110,000

Occupancy floor 62%

Sensitivity live

Price	-10% $535	-5% $503	+0% $472	+5% $441	+10% $410
Rent	-10% $358	-5% $415	+0% $472	+5% $529	+10% $586
Rate	-1.0pp $528	-0.5pp $500	base $472	+0.5pp $444	+1.0pp $415

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 13 events

1. 2026-06-08
   days on market $110,000 Active 20 DOM
2. 2026-06-07
   days on market $110,000 Active 19 DOM
3. 2026-06-03
   days on market $110,000 Active 15 DOM
4. 2026-06-02
   days on market $110,000 Active 14 DOM
5. 2026-06-01
   days on market $110,000 Active 13 DOM
6. 2026-05-31
   days on market $110,000 Active 12 DOM
7. 2026-05-30
   days on market $110,000 Active 11 DOM
8. 2026-05-19
   listed $110,000 Active
9. 2026-05-01
   soldstatus $55,000
10. 2026-04-01
    listed $65,000
11. 2010-08-18
    soldstatus $40,000
12. 2009-03-31
    soldstatus $42,000
13. 2006-03-02
    soldstatus $48,500

ⓘ 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: $558 · $47/mo
• Projected year-2 tax: $1,126 · $94/mo
• Expected delta: +$568/yr (+$47/mo · 101.7%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $17,339
• − Mortgage interest: −$6,162
• − Property taxes: −$558
• − Insurance: −$550
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − Depreciation: −$3,200
• Taxable income: $4,094
• Est. tax owed @ 24.0%: −$983
• After-tax cash flow: $4,684/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 — Blair

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

Census & demographics

• Population (ZIP): 21,297

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 4% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Lithuanian 4% Portuguese 3%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 98% English-only · Spanish 1% Russian/Polish/Slavic 1%

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: ▼ -208.83%
• Current HPI: 351.3678
• 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

+126.8% since first listed

6 events — show timeline

• 2026-05-19 Listed $110,000 WWMLS
• 2026-05-01 Sold (MLS) $55,000 WWMLS
• 2026-04-01 Listed $65,000 WWMLS
• 2010-08-18 Sold (Public Records) $40,000 Public Records
• 2009-03-31 Sold (Public Records) $42,000 Public Records
• 2006-03-02 Sold (Public Records) $48,500 Public Records

Property tax history

+4.7%/yr

Latest (2025): $558 · +2.4% YoY. Source: county tax records.