2111 Summerfield Ln · Traverse City, MI 49686

$99,999

3 bd · 1.0 ba · 1,456 sqft · Other public records · 38 Days on market

Built 2019 Good condition $69/sqft · 48% above area Est $67k · 48% over $680/mo HOA · 32% of rent ↓ 7% 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 +27.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• Livability +4.5/5.0
• Schools +4.4/10.0
• Condition / age +4.0/5.0
• Rent growth +2.4/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Built in 2019, this well-maintained mobile home in Kings Court offers affordable living just minutes from downtown Traverse City. The open-concept floor plan features 3 bedrooms, 2 full baths, and a covered porch perfect for relaxing outdoors. The spacious kitchen includes a large island with bar seating, ample cabinet storage, and durable vinyl flooring. Situated on a desirable corner lot with a large lawn, there’s plenty of space for outdoor activities, entertaining, or pets. Conveniently located near shopping, dining, and everything Traverse City has to offer.

Key facts

• Covered porch
• Large island
• Corner lot

Tags

• OPEN-CONCEPT FLOOR PLAN
• COVERED PORCH
• LARGE ISLAND
• AMPLE CABINET STORAGE
• DURABLE VINYL FLOORING
• CORNER LOT

Property features AI

Finance

• Other: Pets allowed; Subdivision: KINGS COURT
• HOA & community: Homeowners association with a $680 monthly fee; Association fee covers water, sewer, and trash

Exterior

• Utilities: Public water; Shared septic
• Home design: Single-family residence; Residential zoning
• Construction: Vinyl siding
• Exterior features: Porch; Shed(s); Corner lot; Cleared lot

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Dishwasher; Dryer; Microwave; Oven; Refrigerator; Range; Washer; 8 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $294 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 1.7% in Traverse City — 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 91/100 on livability (#4 in MI, #46 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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: Rents soft (-0.5%/yr); 322 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 35% 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 $691 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

• It's been on market 38 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago 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.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $96,999 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. 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.
6. 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.
7. 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: 2.11% ✓
• Cap rate: 9.82%
• Cash-on-cash: 12.59%
• DSCR: 1.56
• GRM: 4.0

CMA / ARV

• ARV (median comp): $67,398
• List price: $99,999
• Delta: 48.37%
• 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: -3.2%
• Equity multiple: 0.88×
• Total profit: $-3,222
• Equity at exit: $14,910

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-755
• Equity at exit: $8,646

Cash invested: $28,000 (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: 322
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,107 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$680
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $294

Break-even live

Break-even rent $1,736

Max offer price $99,999

Occupancy floor 81%

Sensitivity live

Price	-10% $363	-5% $328	+0% $294	+5% $259	+10% $225
Rent	-10% $127	-5% $211	+0% $294	+5% $377	+10% $460
Rate	-1.0pp $344	-0.5pp $319	base $294	+0.5pp $268	+1.0pp $241

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1555 Ridge Blvd Traverse City, MI	3.0	1.0–2.0	1059	$2,225	$2.10	45d	1	0.31mi
1555 Ridge Blvd Traverse City, MI	2.0	1.0–2.0	1063	$1,935	$1.82	44d	11	0.31mi
1585 Ray Blvd Traverse City, MI	3.0	2.0	1246	$1,699	$1.36	44d	1	0.77mi
1021 Manitou Dr Unit 3 Bedroom/2 Bathroom Waitlist Traverse City, MI	3.0	2.0	1330	$2,000	$1.50	44d	1	0.80mi
1021 Manitou Dr Unit 2 Bedroom/1 Bathroom Waitlist Traverse City, MI	2.0	1.0	1056	$1,700	$1.61	44d	1	0.80mi
2944 Glen Dr Traverse City, MI	3.0	2.0	1165	$1,800	$1.55	44d	1	0.83mi

HOA detail

• Monthly dues: $680 · $8,160/yr

Listing history 27 events

1. 2026-06-19
   days on market $99,999 Active 38 DOM
2. 2026-06-18
   days on market $99,999 Active 37 DOM
3. 2026-06-17
   days on market $99,999 Active 36 DOM
4. 2026-06-16
   days on market $99,999 Active 35 DOM
5. 2026-06-15
   days on market $99,999 Active 34 DOM
6. 2026-06-14
   days on market $99,999 Active 32 DOM
7. 2026-06-12
   days on market $99,999 Active 31 DOM
8. 2026-06-09
   days on market $99,999 Active 28 DOM
9. 2026-06-08
   days on market $99,999 Active 27 DOM
10. 2026-06-07
    days on market $99,999 Active 26 DOM
11. 2026-06-03
    days on market $99,999 Active 22 DOM
12. 2026-06-02
    days on market $99,999 Active 21 DOM
13. 2026-06-01
    days on market $99,999 Active 20 DOM
14. 2026-05-31
    days on market $99,999 Active 19 DOM
15. 2026-05-30
    days on market $99,999 Active 18 DOM
16. 2026-05-12
    listed $99,999 Active 568-char remark

    Show marketing remark (588 chars)

    Built in 2019, this well-maintained mobile home in Kings Court offers affordable living just minutes from downtown Traverse City. The open-concept floor plan features 3 bedrooms, 2 full baths, and a covered porch perfect for relaxing outdoors. The spacious kitchen includes a large island with bar seating, ample cabinet storage, and durable vinyl flooring. Situated on a desirable corner lot with a large lawn, there’s plenty of space for outdoor activities, entertaining, or pets. Conveniently located near shopping, dining, and everything Traverse City has to offer.

17. 2026-05-12
    listed $99,999 Active 588-char remark

    Show marketing remark (588 chars)

    Built in 2019, this well-maintained mobile home in Kings Court offers affordable living just minutes from downtown Traverse City. The open-concept floor plan features 3 bedrooms, 2 full baths, and a covered porch perfect for relaxing outdoors. The spacious kitchen includes a large island with bar seating, ample cabinet storage, and durable vinyl flooring. Situated on a desirable corner lot with a large lawn, there’s plenty of space for outdoor activities, entertaining, or pets. Conveniently located near shopping, dining, and everything Traverse City has to offer.

18. 2025-01-29
    historical
19. 2025-01-29
    historical
20. 2024-10-03
    price $106,500
21. 2024-10-02
    price $106,500
22. 2024-08-23
    historical
23. 2024-08-22
    historical
24. 2024-08-21
    listed $107,000 Active
25. 2024-08-21
    listed $107,000 Active
26. 2024-05-22
    listed $107,000 Active
27. 2024-05-22
    listed $107,000 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: $25,288
• − Mortgage interest: −$5,601
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$2,023
• − Management: −$2,023
• − HOA: −$8,160
• − Depreciation: −$2,909
• Taxable income: $2,572
• Est. tax owed @ 24.0%: −$617
• After-tax cash flow: $2,908/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 80/100 Cosmetic rehab

This well-maintained mobile home in Kings Court offers a good condition with a good ROI potential for both resale and rental.

Value-add opportunities

• Both Paint the exterior — Fresh paint can enhance curb appeal and property value
• Both Replace the carpet in the living room — New carpet can improve comfort and aesthetics
• Both Install a smart thermostat — Modernizes the home and can lead to energy savings

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior — Fresh paint can enhance curb appeal and property value ↑
• Both Replace the carpet in the living room — New carpet can improve comfort and aesthetics ↑
• Both Install a smart thermostat — Modernizes the home and can lead to energy savings ↑

ⓘ 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 — Traverse City

• Score: 91/100
• State rank: #4
• US rank: #46

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Grand Traverse County · 47,077 people
• City population: 47,077
• 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

-6.5% since first listed

12 events — show timeline

• 2026-05-12 Listed $99,999 MiRealSource-MiMLS
• 2026-05-12 Listed $99,999 REALCOMP
• 2025-01-29 Listing Removed — REALCOMP
• 2025-01-29 Listing Removed — MiRealSource-MiMLS
• 2024-10-03 Price Changed $106,500 MiRealSource-MiMLS
• 2024-10-02 Price Changed $106,500 REALCOMP
• 2024-08-23 Listing Removed — MiRealSource-MiMLS
• 2024-08-22 Listing Removed — REALCOMP
• 2024-08-21 Listed $107,000 REALCOMP
• 2024-08-21 Listed $107,000 MiRealSource-MiMLS
• 2024-05-22 Listed $107,000 MiRealSource-MiMLS
• 2024-05-22 Listed $107,000 REALCOMP