69205 Garver Lake Lot 48 Rd · Ontwa, MI 49112

$69,999

3 bd · 2.0 ba · 1,152 sqft · SingleFamily · 30 Days on market

Built 2022 Est $59k · 19% over $475/mo HOA · 32% of rent

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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 +27.3/30.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• Schools +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful 3 bedroom ranch on a corner lot in Colonial Acres Park. New roof and gutters last year. New carpet and flooring through out. Spacious open concept inside, wonderful green space outside. Nice patio and back deck with a matching shed that has electric. Home is centrally located to Niles, Cassopolis and the South Bend Mishawaka area. Lot rent is $320/month and includes water, sewer and garbage. Buyer will need to be approved by the park.

Key facts

• Laundry area
• Private parking
• Ample storage

Tags

• PRIVATE PARKING
• OPEN CONCEPT FLOOR PLAN
• LAUNDRY AREA
• CUSTOM MODERN KITCHEN
• STAINLESS-STEEL APPLIANCES
• AMPLE STORAGE

Property features AI

Finance

• Other: Living area approximately 1,152 total square feet
• HOA & community: Monthly association fee of $475; Association covers water, trash, and sewer; Property is part of an association

Exterior

• Parking: Attached garage; Attached parking
• Utilities: Electric water heater; Public water
• Home design: Single family residence; Residential property; Other architectural style
• Construction: Built in 2022; Vinyl siding; Composition roof
• Exterior features: Corner lot with sidewalk; Leased land; Public water

Interior

• Kitchen: Kitchen (18 x 6)
• Bedrooms: Primary bedroom (13 x 13); Bedroom 2 (11 x 9); Bedroom 3 (11 x 11)
• Bathrooms: 2 full bathrooms; Primary bathroom (10 x 5); Bathroom 1 (7 x 5)
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Storm windows and screens; 9 total rooms; Basement (other)
• Laundry & utility: Laundry room (8 x 6)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $69k (1.5% 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.
• Edwardsburg Public Schools (suburban): math 51% / reading 66% proficiency, ranked #52 of 540 in MI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 127 active listings in the ZIP; 128 units permitted in Cass County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 40 sale attempts since 29y 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.
• Current owner paid $56k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $68,949 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.10% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.46%
• DSCR: 1.55
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $58,752
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
69205 Garver Lake Rd #110	0.00mi	3/2.0	1,152 (0%)	21mo	$85,900	$75	83
69205 Garver Lake Rd #2	0.03mi	3/2.0	1,140 (-1%)	18mo	$58,000	$51	82
69205 Garver Rd #75	0.00mi	3/2.0	1,125 (-2%)	21mo	$57,000	$51	78

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $1,937
• Equity at exit: $10,437

10-year hold

• IRR: 12.5%
• Equity multiple: 2.00×
• Total profit: $19,659
• Equity at exit: $6,052

Cash invested: $19,600 (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 49112

• Active inventory: 127
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,471 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$475
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $204

Break-even live

Break-even rent $1,214

Max offer price $69,999

Occupancy floor 81%

Sensitivity live

Price	-10% $252	-5% $228	+0% $204	+5% $179	+10% $155
Rent	-10% $87	-5% $145	+0% $204	+5% $262	+10% $320
Rate	-1.0pp $239	-0.5pp $221	base $204	+0.5pp $185	+1.0pp $167

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $475 · $5,700/yr
• Likely covers: watersewertrashelectric

Listing history 50 events

1. 2026-06-21
   days on market $69,999 Active 30 DOM
2. 2026-06-19
   days on market $69,999 Active 28 DOM
3. 2026-06-18
   days on market $69,999 Active 27 DOM
4. 2026-06-17
   days on market $69,999 Active 26 DOM
5. 2026-06-16
   days on market $69,999 Active 25 DOM
6. 2026-06-15
   days on market $69,999 Active 24 DOM
7. 2026-06-14
   days on market $69,999 Active 22 DOM
8. 2026-06-13
   days on market $69,999 Active 21 DOM
9. 2026-06-10
   days on market $69,999 Active 19 DOM
10. 2026-06-09
    days on market $69,999 Active 18 DOM
11. 2026-06-08
    days on market $69,999 Active 17 DOM
12. 2026-06-07
    pricedays on market $69,999 Active 16 DOM
13. 2026-06-05
    days on market $75,000 Active 13 DOM
14. 2026-06-03
    days on market $75,000 Active 12 DOM
15. 2026-06-02
    days on market $75,000 Active 11 DOM
16. 2026-06-01
    days on market $75,000 Active 10 DOM
17. 2026-05-31
    days on market $75,000 Active 9 DOM
18. 2026-05-30
    days on market $75,000 Active 8 DOM
19. 2017-11-16
    soldstatus $56,500 448-char remark

    Show marketing remark (448 chars)

    Beautiful 3 bedroom ranch on a corner lot in Colonial Acres Park. New roof and gutters last year. New carpet and flooring through out. Spacious open concept inside, wonderful green space outside. Nice patio and back deck with a matching shed that has electric. Home is centrally located to Niles, Cassopolis and the South Bend Mishawaka area. Lot rent is $320/month and includes water, sewer and garbage. Buyer will need to be approved by the park.

20. 2017-11-16
    soldstatus $56,500 Sold 448-char remark

    Show marketing remark (448 chars)

    Beautiful 3 bedroom ranch on a corner lot in Colonial Acres Park. New roof and gutters last year. New carpet and flooring through out. Spacious open concept inside, wonderful green space outside. Nice patio and back deck with a matching shed that has electric. Home is centrally located to Niles, Cassopolis and the South Bend Mishawaka area. Lot rent is $320/month and includes water, sewer and garbage. Buyer will need to be approved by the park.

21. 2017-11-06
    status Pending 448-char remark

    Show marketing remark (448 chars)

    Beautiful 3 bedroom ranch on a corner lot in Colonial Acres Park. New roof and gutters last year. New carpet and flooring through out. Spacious open concept inside, wonderful green space outside. Nice patio and back deck with a matching shed that has electric. Home is centrally located to Niles, Cassopolis and the South Bend Mishawaka area. Lot rent is $320/month and includes water, sewer and garbage. Buyer will need to be approved by the park.

22. 2017-10-13
    historical Active Backup 448-char remark

    Show marketing remark (448 chars)

    Beautiful 3 bedroom ranch on a corner lot in Colonial Acres Park. New roof and gutters last year. New carpet and flooring through out. Spacious open concept inside, wonderful green space outside. Nice patio and back deck with a matching shed that has electric. Home is centrally located to Niles, Cassopolis and the South Bend Mishawaka area. Lot rent is $320/month and includes water, sewer and garbage. Buyer will need to be approved by the park.

23. 2017-08-17
    price $64,900 448-char remark

    Show marketing remark (448 chars)

    Beautiful 3 bedroom ranch on a corner lot in Colonial Acres Park. New roof and gutters last year. New carpet and flooring through out. Spacious open concept inside, wonderful green space outside. Nice patio and back deck with a matching shed that has electric. Home is centrally located to Niles, Cassopolis and the South Bend Mishawaka area. Lot rent is $320/month and includes water, sewer and garbage. Buyer will need to be approved by the park.

24. 2017-08-03
    listed $69,900 Active 448-char remark

    Show marketing remark (448 chars)

    Beautiful 3 bedroom ranch on a corner lot in Colonial Acres Park. New roof and gutters last year. New carpet and flooring through out. Spacious open concept inside, wonderful green space outside. Nice patio and back deck with a matching shed that has electric. Home is centrally located to Niles, Cassopolis and the South Bend Mishawaka area. Lot rent is $320/month and includes water, sewer and garbage. Buyer will need to be approved by the park.

25. 2017-08-02
    listed $64,900 448-char remark

    Show marketing remark (448 chars)

    Beautiful 3 bedroom ranch on a corner lot in Colonial Acres Park. New roof and gutters last year. New carpet and flooring through out. Spacious open concept inside, wonderful green space outside. Nice patio and back deck with a matching shed that has electric. Home is centrally located to Niles, Cassopolis and the South Bend Mishawaka area. Lot rent is $320/month and includes water, sewer and garbage. Buyer will need to be approved by the park.

26. 2015-02-09
    soldstatus $15,000
27. 2015-02-09
    soldstatus $15,000
28. 2015-01-13
    historical
29. 2014-10-02
    listed $15,000
30. 2014-10-02
    listed $15,000
31. 2014-09-29
    historical
32. 2014-09-26
    historical
33. 2014-09-15
    historical
34. 2014-09-15
    historical
35. 2014-09-15
    historical
36. 2014-09-15
    historical
37. 2009-03-03
    historical
38. 2009-03-03
    historical
39. 2008-12-18
    listed $12,500
40. 2008-12-18
    listed $12,500
41. 2007-11-09
    historical
42. 2007-08-09
    listed $34,000
43. 2007-08-09
    listed $34,000
44. 2007-05-30
    soldstatus $23,000
45. 2007-05-30
    soldstatus $23,000
46. 2007-03-07
    listed $28,500
47. 2007-03-07
    listed $28,500
48. 2006-09-06
    soldstatus $26,000
49. 2006-09-06
    soldstatus $26,000
50. 2006-09-01
    soldstatus $45,000

ⓘ 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: $17,656
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,412
• − Management: −$1,412
• − HOA: −$5,700
• − Depreciation: −$2,036
• Taxable income: $1,773
• Est. tax owed @ 24.0%: −$426
• After-tax cash flow: $2,017/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: Edwardsburg Public Schools
• NCES district ID: 2612990
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 66% ▼ -4.00%
• Median HH income: $55,372
• Composite: 50.29/100
• National rank: #1883
• State rank: #52 of 540 in MI

Livability — Ontwa

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

Census & demographics

• Population (ZIP): 10,436

Population outlook (Cass County) Hauer SSP2

• Today (2025): 49,919 people
• By 2030: 48,320 · -3.2%
• By 2040: 44,230 · -11.4%
• By 2050: 39,852 · -20.2%
• By 2075: 31,440 · -37.0%
• By 2100: 23,914 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Romanian 5% Iranian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+33.9) · D 32.5% · R 66.4% · Other 1.1%
• 2008→2024 swing: -38.0pp toward R · 2008: 4.1pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+28.9 2016: R+29.9 2012: R+13.7 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -174.26%
• Current HPI: 183.898
• 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

+222.9% since first listed

84 events — show timeline

• 2017-11-16 Sold (MLS) $56,500 SW Michigan MLS
• 2017-11-16 Sold (MLS) $56,500 REALCOMP
• 2017-11-06 Pending — SW Michigan MLS
• 2017-10-13 Contingent — SW Michigan MLS
• 2017-08-17 Price Changed $64,900 SW Michigan MLS
• 2017-08-03 Listed $69,900 SW Michigan MLS
• 2017-08-02 Listed $64,900 REALCOMP
• 2015-02-09 Sold (MLS) $15,000 SW Michigan MLS
• 2015-02-09 Sold (MLS) $15,000 REALCOMP
• 2015-01-13 Listing Removed — SW Michigan MLS
• 2014-10-02 Listed $15,000 SW Michigan MLS
• 2014-10-02 Listed $15,000 REALCOMP
• 2014-09-29 Listing Removed — SW Michigan MLS
• 2014-09-26 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2009-03-03 Listing Removed — SW Michigan MLS
• 2009-03-03 Listing Removed — REALCOMP
• 2008-12-18 Listed $12,500 SW Michigan MLS
• 2008-12-18 Listed $12,500 REALCOMP
• 2007-11-09 Listing Removed — REALCOMP
• 2007-08-09 Listed $34,000 REALCOMP
• 2007-08-09 Listed $34,000 SW Michigan MLS
• 2007-05-30 Sold (MLS) $23,000 REALCOMP
• 2007-05-30 Sold (MLS) $23,000 SW Michigan MLS
• 2007-03-07 Listed $28,500 REALCOMP
• 2007-03-07 Listed $28,500 SW Michigan MLS
• 2006-09-06 Sold (MLS) $26,000 REALCOMP
• 2006-09-06 Sold (MLS) $26,000 SW Michigan MLS
• 2006-09-01 Sold (MLS) $45,000 REALCOMP
• 2006-09-01 Sold (MLS) $45,000 SW Michigan MLS
• 2006-08-11 Listed $48,000 REALCOMP
• 2006-08-11 Listed $48,000 SW Michigan MLS
• 2006-07-28 Sold (MLS) $27,000 REALCOMP
• 2006-07-28 Sold (MLS) $27,000 SW Michigan MLS
• 2006-06-25 Listing Removed — REALCOMP
• 2006-01-31 Listed $28,000 REALCOMP
• 2006-01-31 Listed $28,000 SW Michigan MLS
• 2006-01-25 Listed $15,000 REALCOMP
• 2006-01-25 Listed $15,000 SW Michigan MLS
• 2005-10-20 Listed $27,900 REALCOMP
• 2005-10-20 Listed $27,900 SW Michigan MLS
• 2005-07-18 Sold (MLS) $24,000 REALCOMP
• 2005-07-18 Sold (MLS) $24,000 SW Michigan MLS
• 2005-05-03 Listed $27,000 REALCOMP
• 2005-05-03 Listed $27,000 SW Michigan MLS
• 2003-08-01 Listing Removed — REALCOMP
• 2002-08-09 Listed $35,000 REALCOMP
• 2002-08-09 Listed $35,000 SW Michigan MLS
• 2001-11-29 Listing Removed — REALCOMP
• 2001-10-26 Sold (MLS) $33,500 REALCOMP
• 2001-10-26 Sold (MLS) $33,500 SW Michigan MLS
• 2001-06-12 Listed $43,000 REALCOMP
• 2001-06-12 Listed $43,000 SW Michigan MLS
• 2001-05-29 Listed $55,000 REALCOMP
• 2001-05-29 Listed $55,000 SW Michigan MLS
• 2000-08-01 Listing Removed — REALCOMP
• 1999-06-21 Sold (MLS) $10,500 REALCOMP
• 1999-06-21 Sold (MLS) $10,500 SW Michigan MLS
• 1999-03-22 Listed $11,900 REALCOMP
• 1999-03-22 Listed $11,900 SW Michigan MLS
• 1999-03-15 Sold (MLS) $25,000 REALCOMP
• 1999-03-15 Sold (MLS) $25,000 SW Michigan MLS
• 1999-02-09 Listing Removed — REALCOMP
• 1998-11-09 Listed $12,500 REALCOMP
• 1998-11-09 Listed $12,500 SW Michigan MLS
• 1998-07-30 Listing Removed — SW Michigan MLS
• 1998-07-30 Listing Removed — REALCOMP
• 1998-07-28 Listed $39,900 REALCOMP
• 1998-07-28 Listed $39,900 SW Michigan MLS
• 1998-06-30 Listed $25,900 REALCOMP
• 1998-06-30 Listed $25,900 SW Michigan MLS
• 1998-06-16 Listed $8,000 SW Michigan MLS
• 1998-06-16 Listed $8,000 REALCOMP
• 1998-05-22 Sold (MLS) $16,250 REALCOMP
• 1998-05-22 Sold (MLS) $16,250 SW Michigan MLS
• 1998-03-19 Sold (MLS) $39,000 REALCOMP
• 1998-03-19 Sold (MLS) $39,000 SW Michigan MLS
• 1997-12-08 Listed $42,900 REALCOMP
• 1997-12-08 Listed $42,900 SW Michigan MLS
• 1997-09-28 Listed $17,500 REALCOMP
• 1997-09-28 Listed $17,500 SW Michigan MLS

Property tax history

-5.6%/yr

Latest (2023): $49 · +1.3% YoY. Source: county tax records.