4418 Daisy Ln · Chums Corner, MI 49685

$68,900

2 bd · 1.0 ba · 896 sqft · Manufactured public records · 197 Days on market

Built 2025 Good condition ↓ 4% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this stunning 2 bedroom 2 bathroom home built in 2023 and ready for immediate occupancy. Designed with modern living in mind this bright and well maintained home offers comfort style and convenience from the moment you walk in. Located in the desirable Meadow Lane Community just south of Traverse City this home places you close to major employers shopping dining and all the attractions that make Northern Michigan such a sought after place to live. Whether you are commuting to work or enjoying the surrounding area this location delivers exceptional convenience. This is a rare opportunity to own a newer home in a high demand community. Homes like this move quickly. Call today to schedule your private showing and secure this home before it is gone.

Key facts

• Built 2025
• Listed 196 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $69k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.9% vs local median 1.5% in Chums Corner — 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 67/100 on livability (#400 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A-; Watch: schools D+, amenities F, commute F.
• 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; 2 comparable units currently listed for rent nearby; 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 $476 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.

Recommended offer $60,632 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.31% ✓
• Cap rate: 19.85%
• Cash-on-cash: 48.42%
• DSCR: 3.15
• GRM: 3.6

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: 46.0%
• Equity multiple: 2.99×
• Total profit: $38,441
• Equity at exit: $10,273

10-year hold

• IRR: 51.8%
• Equity multiple: 6.05×
• Total profit: $97,416
• Equity at exit: $5,957

Cash invested: $19,292 (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: 3.6×

Monthly cashflow live

• Estimated rent: $1,588 medium
• Mortgage (P&I): −$361
• Tax est. 1.5%: −$86 /mo · $1,034/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $778

Break-even live

Break-even rent $603

Max offer price $68,900

Occupancy floor 46%

Sensitivity live

Price	-10% $826	-5% $802	+0% $778	+5% $755	+10% $731
Rent	-10% $653	-5% $716	+0% $778	+5% $841	+10% $904
Rate	-1.0pp $813	-0.5pp $796	base $778	+0.5pp $761	+1.0pp $742

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: $17,225
• Closing costs: $2,067
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4418 E Daisy Ln Unit 156 Traverse City, MI	2.0	2.0	896	$1,649	$1.84	44d	1	0.03mi
4170 Lilac Ln Unit 905 Traverse City, MI	3.0	2.0	1120	$1,419	$1.27	44d	1	0.22mi

Listing history 18 events

1. 2026-06-19
   days on market $68,900 Active 197 DOM
2. 2026-06-18
   days on market $68,900 Active 196 DOM
3. 2026-06-17
   days on market $68,900 Active 195 DOM
4. 2026-06-16
   days on market $68,900 Active 194 DOM
5. 2026-06-15
   days on market $68,900 Active 193 DOM
6. 2026-06-14
   days on market $68,900 Active 191 DOM
7. 2026-06-12
   days on market $68,900 Active 190 DOM
8. 2026-06-09
   days on market $68,900 Active 187 DOM
9. 2026-06-08
   days on market $68,900 Active 186 DOM
10. 2026-06-07
    days on market $68,900 Active 185 DOM
11. 2026-06-03
    days on market $68,900 Active 181 DOM
12. 2026-06-02
    days on market $68,900 Active 180 DOM
13. 2026-06-01
    days on market $68,900 Active 179 DOM
14. 2026-05-31
    days on market $68,900 Active 178 DOM
15. 2026-05-30
    days on market $68,900 Active 177 DOM
16. 2026-04-24
    price $68,900 765-char remark

    Show marketing remark (765 chars)

    Step into this stunning 2 bedroom 2 bathroom home built in 2023 and ready for immediate occupancy. Designed with modern living in mind this bright and well maintained home offers comfort style and convenience from the moment you walk in. Located in the desirable Meadow Lane Community just south of Traverse City this home places you close to major employers shopping dining and all the attractions that make Northern Michigan such a sought after place to live. Whether you are commuting to work or enjoying the surrounding area this location delivers exceptional convenience. This is a rare opportunity to own a newer home in a high demand community. Homes like this move quickly. Call today to schedule your private showing and secure this home before it is gone.

17. 2026-01-08
    price $69,900 765-char remark

    Show marketing remark (765 chars)

    Step into this stunning 2 bedroom 2 bathroom home built in 2023 and ready for immediate occupancy. Designed with modern living in mind this bright and well maintained home offers comfort style and convenience from the moment you walk in. Located in the desirable Meadow Lane Community just south of Traverse City this home places you close to major employers shopping dining and all the attractions that make Northern Michigan such a sought after place to live. Whether you are commuting to work or enjoying the surrounding area this location delivers exceptional convenience. This is a rare opportunity to own a newer home in a high demand community. Homes like this move quickly. Call today to schedule your private showing and secure this home before it is gone.

18. 2025-12-04
    listed $71,900 Active 765-char remark

    Show marketing remark (765 chars)

    Step into this stunning 2 bedroom 2 bathroom home built in 2023 and ready for immediate occupancy. Designed with modern living in mind this bright and well maintained home offers comfort style and convenience from the moment you walk in. Located in the desirable Meadow Lane Community just south of Traverse City this home places you close to major employers shopping dining and all the attractions that make Northern Michigan such a sought after place to live. Whether you are commuting to work or enjoying the surrounding area this location delivers exceptional convenience. This is a rare opportunity to own a newer home in a high demand community. Homes like this move quickly. Call today to schedule your private showing and secure this home before it is gone.

ⓘ 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: $19,058
• − Mortgage interest: −$3,859
• − Property taxes: −$1,034
• − Insurance: −$344
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$2,004
• Taxable income: $8,767
• Est. tax owed @ 24.0%: −$2,104
• After-tax cash flow: $7,238/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 · 3 photos

Good 80/100 Cosmetic rehab

This 2023-built home is in excellent condition with modern finishes and a move-in-ready appearance. It offers a good investment opportunity in a desirable community.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping the front yard — A well-maintained front yard improves curb appeal and adds value.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and attractive to potential buyers/tenants.
• Resale Upgrading the kitchen appliances — Upgrading to more modern or energy-efficient appliances can increase the home's appeal to potential buyers.
• Rental Adding a smart thermostat — A smart thermostat can help reduce energy costs and attract tenants who value energy efficiency and convenience.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping the front yard — A well-maintained front yard improves curb appeal and adds value. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and attractive to potential buyers/tenants. ↑
• Resale Upgrading the kitchen appliances — Upgrading to more modern or energy-efficient appliances can increase the home's appeal to potential buyers. ↑
• Rental Adding a smart thermostat — A smart thermostat can help reduce energy costs and attract tenants who value energy efficiency and convenience. ↑

ⓘ 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 — Chums Corner

• Score: 67/100
• State rank: #400
• US rank: #10826

Category grades

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

Schools grade is shown separately in the Schools card above.

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

-4.2% since first listed

3 events — show timeline

• 2026-04-24 Price Changed $68,900 Zillow
• 2026-01-08 Price Changed $69,900 Zillow
• 2025-12-04 Listed $71,900 Zillow