5694 N Seagull Dr NE · Plainfield, MI 49306

$39,900

2 bd · 2.0 ba · 1,023 sqft · Other · 36 Days on market

Built 1979 $39/sqft · 19% below area Est $49k · 19% under $640/mo HOA · 36% of rent

---

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 +15.0/30.0
• ARV discount +15.0/15.0
• Schools +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Welcome to Leisure Village in Belmont! This well-maintained 2-bedroom, 2-bath manufactured home offers comfortable, low-maintenance living with a spacious and functional layout throughout. Inside, you'll find a bright living area, generous kitchen space, and ample room for everyday living and entertaining. A major recent improvement includes a new furnace installed in 2024, providing added efficiency and peace of mind. The home has been thoughtfully cared for and is move-in ready for its next owner. Located in the desirable Leisure Village 55+ community, residents enjoy a peaceful setting while remaining conveniently close to shopping, dining, parks, and all that the Belmont area has to offer. Schedule your private showing today!

Key facts

• New furnace
• Move in ready
• 2 garage spots

Tags

• NEW FURNACE
• MOVE IN READY

Property features AI

Finance

• HOA & community: Community clubhouse; Fitness center; Library; Playground; Storage; Pets allowed; Association fee $640 monthly

Exterior

• Parking: Attached garage; 2-car garage; Has carport
• Utilities: Public water; Natural gas water heater
• Home design: Ranch-style single-family residence; Built in 1979
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 5 total rooms; Dishwasher, Microwave, Oven, Refrigerator; Crawl space basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (3.0% 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.
• Rockford Public Schools (suburban): math 59% / reading 64% proficiency, ranked #28 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 65 active listings in the ZIP; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($39k) 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.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $38,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 4.48% ✓
• Cap rate: 22.53%
• Cash-on-cash: 57.99%
• DSCR: 3.58
• GRM: 1.9

CMA / ARV

• ARV (median comp): $49,359
• List price: $39,900
• Delta: -19.16%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 57.0%
• Equity multiple: 3.53×
• Total profit: $28,312
• Equity at exit: $5,949

10-year hold

• IRR: 62.0%
• Equity multiple: 7.31×
• Total profit: $70,531
• Equity at exit: $3,450

Cash invested: $11,172 (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 49306

• Active inventory: 65
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,789 medium
• Mortgage (P&I): −$209
• Tax from tax record: −$8 /mo · $95/yr
• Insurance: −$17
• HOA: −$640
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $540

Break-even live

Break-even rent $1,106

Max offer price $39,900

Occupancy floor 65%

Sensitivity live

Price	-10% $562	-5% $551	+0% $540	+5% $529	+10% $517
Rent	-10% $398	-5% $469	+0% $540	+5% $611	+10% $681
Rate	-1.0pp $560	-0.5pp $550	base $540	+0.5pp $530	+1.0pp $519

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $640 · $7,680/yr

Listing history 16 events

1. 2026-06-16
   statusdays on market $39,900 Pending 36 DOM

   Show marketing remark (739 chars)

   Welcome to Leisure Village in Belmont! This well-maintained 2-bedroom, 2-bath manufactured home offers comfortable, low-maintenance living with a spacious and functional layout throughout. Inside, you'll find a bright living area, generous kitchen space, and ample room for everyday living and entertaining. A major recent improvement includes a new furnace installed in 2024, providing added efficiency and peace of mind. The home has been thoughtfully cared for and is move-in ready for its next owner. Located in the desirable Leisure Village 55+ community, residents enjoy a peaceful setting while remaining conveniently close to shopping, dining, parks, and all that the Belmont area has to offer. Schedule your private showing today!

2. 2026-06-15
   days on market $39,900 Active 35 DOM
3. 2026-06-14
   days on market $39,900 Active 33 DOM
4. 2026-06-13
   days on market $39,900 Active 32 DOM
5. 2026-06-10
   days on market $39,900 Active 30 DOM
6. 2026-06-09
   days on market $39,900 Active 29 DOM
7. 2026-06-08
   days on market $39,900 Active 28 DOM
8. 2026-06-07
   days on market $39,900 Active 27 DOM
9. 2026-06-05
   days on market $39,900 Active 24 DOM
10. 2026-06-03
    days on market $39,900 Active 23 DOM
11. 2026-06-03
    days on market $39,900 Active 22 DOM
12. 2026-06-01
    days on market $39,900 Active 21 DOM
13. 2026-05-31
    days on market $39,900 Active 20 DOM
14. 2026-05-11
    listed $39,900 Active 739-char remark

    Show marketing remark (739 chars)

    Welcome to Leisure Village in Belmont! This well-maintained 2-bedroom, 2-bath manufactured home offers comfortable, low-maintenance living with a spacious and functional layout throughout. Inside, you'll find a bright living area, generous kitchen space, and ample room for everyday living and entertaining. A major recent improvement includes a new furnace installed in 2024, providing added efficiency and peace of mind. The home has been thoughtfully cared for and is move-in ready for its next owner. Located in the desirable Leisure Village 55+ community, residents enjoy a peaceful setting while remaining conveniently close to shopping, dining, parks, and all that the Belmont area has to offer. Schedule your private showing today!

15. 2026-05-11
    listed $39,900 Active 742-char remark

    Show marketing remark (739 chars)

    Welcome to Leisure Village in Belmont! This well-maintained 2-bedroom, 2-bath manufactured home offers comfortable, low-maintenance living with a spacious and functional layout throughout. Inside, you'll find a bright living area, generous kitchen space, and ample room for everyday living and entertaining. A major recent improvement includes a new furnace installed in 2024, providing added efficiency and peace of mind. The home has been thoughtfully cared for and is move-in ready for its next owner. Located in the desirable Leisure Village 55+ community, residents enjoy a peaceful setting while remaining conveniently close to shopping, dining, parks, and all that the Belmont area has to offer. Schedule your private showing today!

16. 2026-05-11
    listed $39,900 Active

    Show marketing remark (739 chars)

    Welcome to Leisure Village in Belmont! This well-maintained 2-bedroom, 2-bath manufactured home offers comfortable, low-maintenance living with a spacious and functional layout throughout. Inside, you'll find a bright living area, generous kitchen space, and ample room for everyday living and entertaining. A major recent improvement includes a new furnace installed in 2024, providing added efficiency and peace of mind. The home has been thoughtfully cared for and is move-in ready for its next owner. Located in the desirable Leisure Village 55+ community, residents enjoy a peaceful setting while remaining conveniently close to shopping, dining, parks, and all that the Belmont area has to offer. Schedule your private showing today!

ⓘ 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: $95 · $8/mo
• Projected year-2 tax: $355 · $30/mo
• Expected delta: +$260/yr (+$22/mo · 274.9%)

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

Taxation est. · year 1

• Rental income: $21,472
• − Mortgage interest: −$2,235
• − Property taxes: −$95
• − Insurance: −$200
• − Repairs & maintenance: −$1,718
• − Management: −$1,718
• − HOA: −$7,680
• − Depreciation: −$1,161
• Taxable income: $6,667
• Est. tax owed @ 24.0%: −$1,600
• After-tax cash flow: $4,878/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: Rockford Public Schools
• NCES district ID: 2630030
• Math proficiency: 59% ▼ -5.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $79,800
• Composite: 55.16/100
• National rank: #1276
• State rank: #28 of 540 in MI

Livability — Plainfield

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

Census & demographics

• Population (ZIP): 10,806

Population outlook (Kent County) Hauer SSP2

• Today (2025): 712,484 people
• By 2030: 748,618 · +5.1%
• By 2040: 814,777 · +14.4%
• By 2050: 868,556 · +21.9%
• By 2075: 966,487 · +35.7%
• By 2100: 967,975 · +35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Iranian 12% Romanian 12% Lithuanian 5%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Kent

• 2024 margin: Lean D (+5.4) · D 51.8% · R 46.5% · Other 1.7%
• 2008→2024 swing: +4.8pp toward D · 2008: 0.5pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+6.1 2016: R+3.1 2012: R+7.9 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -146.39%
• Current HPI: 246.3054
• 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

6 events — show timeline

• 2026-06-16 Pending — REALCOMP
• 2026-06-16 Pending — MiRealSource-MiMLS
• 2026-06-16 Pending — SW Michigan MLS
• 2026-05-11 Listed $39,900 REALCOMP
• 2026-05-11 Listed $39,900 SW Michigan MLS
• 2026-05-11 Listed $39,900 MiRealSource-MiMLS

Property tax history

-0.3%/yr

Latest (2025): $95 · +1.8% YoY. Source: county tax records.