9810 S Parrott Cir SE · Garfield, MI 49633

$49,900

2 bd · 1.0 ba · 630 sqft · SingleFamily · 58 Days on market

Built 1970 0.50 ac lot $79/sqft · 76% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Northern Michigan Fixer-Upper — Outdoor Enthusiast’s Dream Charming fixer-upper on the edge of ACRES and Acres of acres of state land, perfectly positioned for hunting, fishing, and year-round outdoor adventure. Bring your vision and sweat equity to this solid property with huge upside. Property highlights • Location: Northern Michigan, minutes from Big Cannon Creeks, Manistee River and All Sports Lakes. • Land access: Immediate entry to a large amount of contiguous state land. • Outdoor opportunities: Whitetail (“big bucks”), trout fishing, browns & rookies, kayaking on the Manistee River, hiking, biking, snowshoeing, snowmobiling and ATV right from your doorstep • Home: Classic up north structure in need of full cosmetic and systems renovation — ideal for a renovation project and build equity. • Utilities: On-site utilities present (assume updates needed)

Key facts

• Acres of state land
• 0.5 acre lot
• Built 1970

Tags

• ACRES OF STATE LAND
• IMMEDIATE ENTRY TO STATE LAND
• OUTDOOR OPPORTUNITIES
• KAYAKING ON THE MANISTEE RIVER

Property features AI

Finance

• Other: Private maintained road on a private road frontage; Lot roughly 0.5 acre (dimensions ~74 x 299); Subdivision: PARROTT VILLA; Zoned residential

Exterior

• Utilities: Private well water; Septic tank
• Home design: Single-family residence; One story
• Construction: Aluminum siding; Block foundation; Built with block foundation
• Exterior features: Deck; Shed(s)

Interior

• Kitchen: Oven, Refrigerator, Range
• Bedrooms: Total of 4 rooms (includes living spaces and bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Propane heating; Wall furnace; No cooling
• Interior features: Oven; Refrigerator; Range; Crawl space and block basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($924 rent vs $50k).
• Recommended offer: $48k (3.0% 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.
• Kalkaska Public Schools (town): math 24% / reading 38% proficiency, ranked #356 of 540 in MI (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 61 active listings in the ZIP; 38 units permitted in Kalkaska County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Kalkaska County population projected to shrink 9% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 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 $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.85% ✓
• Cap rate: 15.85%
• Cash-on-cash: 34.13%
• DSCR: 2.52
• GRM: 4.5

CMA / ARV

• ARV (median comp): $205,484
• List price: $49,900
• Delta: -75.72%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 29.5%
• Equity multiple: 2.23×
• Total profit: $17,230
• Equity at exit: $7,440

10-year hold

• IRR: 36.8%
• Equity multiple: 4.41×
• Total profit: $47,619
• Equity at exit: $4,314

Cash invested: $13,972 (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 49633

• Active inventory: 61
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $924 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $397

Break-even live

Break-even rent $421

Max offer price $49,900

Occupancy floor 52%

Sensitivity live

Price	-10% $426	-5% $412	+0% $397	+5% $383	+10% $369
Rent	-10% $324	-5% $361	+0% $397	+5% $434	+10% $470
Rate	-1.0pp $423	-0.5pp $410	base $397	+0.5pp $384	+1.0pp $371

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-21
   days on market $49,900 Active 58 DOM
2. 2026-06-18
   days on market $49,900 Active 56 DOM
3. 2026-06-17
   days on market $49,900 Active 55 DOM
4. 2026-06-16
   days on market $49,900 Active 54 DOM
5. 2026-06-15
   days on market $49,900 Active 53 DOM
6. 2026-06-13
   days on market $49,900 Active 51 DOM
7. 2026-06-12
   days on market $49,900 Active 50 DOM
8. 2026-06-09
   days on market $49,900 Active 47 DOM
9. 2026-06-08
   days on market $49,900 Active 46 DOM
10. 2026-06-07
    days on market $49,900 Active 45 DOM
11. 2026-06-07
    days on market $49,900 Active 44 DOM
12. 2026-06-04
    days on market $49,900 Active 41 DOM
13. 2026-06-02
    days on market $49,900 Active 40 DOM
14. 2026-06-01
    days on market $49,900 Active 39 DOM
15. 2026-05-31
    days on market $49,900 Active 38 DOM
16. 2026-05-31
    days on market $49,900 Active 37 DOM
17. 2026-04-23
    listed $49,900 Active 939-char remark

    Show marketing remark (1054 chars)

    Northern Michigan Fixer-Upper — Outdoor Enthusiast’s Dream Charming fixer-upper on the edge of ACRES and Acres of acres of state land, perfectly positioned for hunting, fishing, and year-round outdoor adventure. Bring your vision and sweat equity to this solid property with huge upside. Property highlights • Location: Northern Michigan, minutes from Big Cannon Creeks, Manistee River and All Sports Lakes. • Land access: Immediate entry to a large amount of contiguous state land. • Outdoor opportunities: Whitetail (“big bucks”), trout fishing, browns & rookies, kayaking on the Manistee River, hiking, biking, snowshoeing, snowmobiling and ATV right from your doorstep • Home: Classic up north structure in need of full cosmetic and systems renovation — ideal for a renovation project and build equity. • Utilities: On-site utilities present (assume updates needed)

18. 2026-04-23
    listed $49,900 Active 1054-char remark

    Show marketing remark (1054 chars)

    Northern Michigan Fixer-Upper — Outdoor Enthusiast’s Dream Charming fixer-upper on the edge of ACRES and Acres of acres of state land, perfectly positioned for hunting, fishing, and year-round outdoor adventure. Bring your vision and sweat equity to this solid property with huge upside. Property highlights • Location: Northern Michigan, minutes from Big Cannon Creeks, Manistee River and All Sports Lakes. • Land access: Immediate entry to a large amount of contiguous state land. • Outdoor opportunities: Whitetail (“big bucks”), trout fishing, browns & rookies, kayaking on the Manistee River, hiking, biking, snowshoeing, snowmobiling and ATV right from your doorstep • Home: Classic up north structure in need of full cosmetic and systems renovation — ideal for a renovation project and build equity. • Utilities: On-site utilities present (assume updates needed)

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $683 · $57/mo
• Expected delta: +$85/yr (+$7/mo · 14.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥94°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,084
• − Mortgage interest: −$2,795
• − Property taxes: −$598
• − Insurance: −$250
• − Repairs & maintenance: −$887
• − Management: −$887
• − Depreciation: −$1,452
• Taxable income: $4,216
• Est. tax owed @ 24.0%: −$1,012
• After-tax cash flow: $3,757/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: Kalkaska Public Schools
• NCES district ID: 2620050
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 38% ▬ 0.00%
• Median HH income: $40,055
• Composite: 26.03/100
• National rank: #7308
• State rank: #356 of 540 in MI

Livability — Garfield

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

Census & demographics

• Population (ZIP): 3,325

Population outlook (Kalkaska County) Hauer SSP2

• Today (2025): 17,359 people
• By 2030: 17,222 · -0.8%
• By 2040: 16,643 · -4.1%
• By 2050: 15,810 · -8.9%
• By 2075: 13,772 · -20.7%
• By 2100: 10,976 · -36.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Native American 2% Hispanic / Latino 2%
• Common ancestry: Romanian 5% Lithuanian 4% Scottish 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · Kalkaska

• 2024 margin: Solid R (+42.9) · D 27.8% · R 70.7% · Other 1.5%
• 2008→2024 swing: -34.1pp toward R · 2008: -8.8pp · 2024: -42.9pp
• All cycles: 2024: R+42.9 2020: R+41.7 2016: R+44.1 2012: R+19.7 2008: R+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -208.84%
• Current HPI: 190.1931
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-29 Relisted — MiRealSource-MiMLS
• 2026-05-28 Listing Removed — MiRealSource-MiMLS
• 2026-04-23 Listed $49,900 REALCOMP
• 2026-04-23 Listed $49,900 MiRealSource-MiMLS

Property tax history

+2.5%/yr

Latest (2025): $598 · +1.9% YoY. Source: county tax records.