10429 Garfield Ave · Garfield, MI 48632

$164,900

3 bd · 1.0 ba · 1,456 sqft · Manufactured public records · 274 Days on market

Built 2010 7,405 sqft lot $113/sqft · 55% below area ↓ 21% since listing

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Why this score? — see what drove the F 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 +10.0/30.0
• ARV discount +7.5/15.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• 1% rule +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious open concept manufactured home with a split floor plan. Offers 3 bedrooms, 2 full baths, fireplace and utility room. The private master suite has 2 closets, private bath with garden tub. Outside you can walk to all sports 8 Point Lake, 2 car garage and a nice deck to sit and relax. New drain field for septic. If you are looking for a spacious home don't pass this one up. Come take a look.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 2010

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $147k (10.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (33.2% below list).
• Recommended offer: $110k (33.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Farwell Area Schools (town): math 24% / reading 34% proficiency, ranked #388 of 540 in MI (top 72%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 95 active listings in the ZIP; 77 units permitted in Clare County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Clare County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask has dropped $30k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $110,185 (33.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.67% ✗
• Cap rate: 5.57%
• Cash-on-cash: -2.59%
• DSCR: 0.88
• GRM: 12.5

CMA / ARV

• ARV (median comp): $365,000
• List price: $164,900
• Delta: -54.82%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -20.7%
• Equity multiple: 0.28×
• Total profit: $-33,148
• Equity at exit: $24,587

10-year hold

• IRR: -14.1%
• Equity multiple: 0.19×
• Total profit: $-37,384
• Equity at exit: $14,258

Cash invested: $46,172 (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 48632

• Home prices YoY: -27.9%
• Active inventory: 95
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $1,102 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$37 /mo · $439/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $-100

Break-even live

Break-even rent $1,228

Max offer price $147,317

Occupancy floor —

Sensitivity live

Price	-10% $-6	-5% $-53	+0% $-100	+5% $-146	+10% $-193
Rent	-10% $-187	-5% $-143	+0% $-100	+5% $-56	+10% $-12
Rate	-1.0pp $-16	-0.5pp $-58	base $-100	+0.5pp $-142	+1.0pp $-186

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Listing history 46 events

1. 2026-06-21
   days on market $164,900 Active 274 DOM
2. 2026-06-18
   days on market $164,900 Active 272 DOM
3. 2026-06-17
   days on market $164,900 Active 271 DOM
4. 2026-06-16
   days on market $164,900 Active 270 DOM
5. 2026-06-15
   days on market $164,900 Active 269 DOM
6. 2026-06-13
   days on market $164,900 Active 267 DOM
7. 2026-06-12
   days on market $164,900 Active 266 DOM
8. 2026-06-09
   days on market $164,900 Active 263 DOM
9. 2026-06-08
   days on market $164,900 Active 262 DOM
10. 2026-06-07
    days on market $164,900 Active 261 DOM
11. 2026-06-07
    days on market $164,900 Active 260 DOM
12. 2026-06-04
    days on market $164,900 Active 257 DOM
13. 2026-06-02
    days on market $164,900 Active 256 DOM
14. 2026-06-01
    days on market $164,900 Active 255 DOM
15. 2026-05-31
    days on market $164,900 Active 254 DOM
16. 2026-05-31
    days on market $164,900 Active 253 DOM
17. 2026-03-21
    price $169,900 400-char remark

    Show marketing remark (400 chars)

    Spacious open concept manufactured home with a split floor plan. Offers 3 bedrooms, 2 full baths, fireplace and utility room. The private master suite has 2 closets, private bath with garden tub. Outside you can walk to all sports 8 Point Lake, 2 car garage and a nice deck to sit and relax. New drain field for septic. If you are looking for a spacious home don't pass this one up. Come take a look.

18. 2026-03-21
    price $169,900 400-char remark

    Show marketing remark (400 chars)

    Spacious open concept manufactured home with a split floor plan. Offers 3 bedrooms, 2 full baths, fireplace and utility room. The private master suite has 2 closets, private bath with garden tub. Outside you can walk to all sports 8 Point Lake, 2 car garage and a nice deck to sit and relax. New drain field for septic. If you are looking for a spacious home don't pass this one up. Come take a look.

19. 2025-11-21
    price $175,000 400-char remark

    Show marketing remark (400 chars)

    Spacious open concept manufactured home with a split floor plan. Offers 3 bedrooms, 2 full baths, fireplace and utility room. The private master suite has 2 closets, private bath with garden tub. Outside you can walk to all sports 8 Point Lake, 2 car garage and a nice deck to sit and relax. New drain field for septic. If you are looking for a spacious home don't pass this one up. Come take a look.

20. 2025-11-20
    price $175,000 400-char remark

    Show marketing remark (400 chars)

    Spacious open concept manufactured home with a split floor plan. Offers 3 bedrooms, 2 full baths, fireplace and utility room. The private master suite has 2 closets, private bath with garden tub. Outside you can walk to all sports 8 Point Lake, 2 car garage and a nice deck to sit and relax. New drain field for septic. If you are looking for a spacious home don't pass this one up. Come take a look.

21. 2025-11-12
    price $189,000 400-char remark

    Show marketing remark (400 chars)

    Spacious open concept manufactured home with a split floor plan. Offers 3 bedrooms, 2 full baths, fireplace and utility room. The private master suite has 2 closets, private bath with garden tub. Outside you can walk to all sports 8 Point Lake, 2 car garage and a nice deck to sit and relax. New drain field for septic. If you are looking for a spacious home don't pass this one up. Come take a look.

22. 2025-11-12
    price $189,000 400-char remark

    Show marketing remark (400 chars)

    Spacious open concept manufactured home with a split floor plan. Offers 3 bedrooms, 2 full baths, fireplace and utility room. The private master suite has 2 closets, private bath with garden tub. Outside you can walk to all sports 8 Point Lake, 2 car garage and a nice deck to sit and relax. New drain field for septic. If you are looking for a spacious home don't pass this one up. Come take a look.

23. 2025-09-17
    listed $194,500 Active 400-char remark

    Show marketing remark (400 chars)

    Spacious open concept manufactured home with a split floor plan. Offers 3 bedrooms, 2 full baths, fireplace and utility room. The private master suite has 2 closets, private bath with garden tub. Outside you can walk to all sports 8 Point Lake, 2 car garage and a nice deck to sit and relax. New drain field for septic. If you are looking for a spacious home don't pass this one up. Come take a look.

24. 2025-09-17
    listed $194,500 Active 400-char remark

    Show marketing remark (400 chars)

    Spacious open concept manufactured home with a split floor plan. Offers 3 bedrooms, 2 full baths, fireplace and utility room. The private master suite has 2 closets, private bath with garden tub. Outside you can walk to all sports 8 Point Lake, 2 car garage and a nice deck to sit and relax. New drain field for septic. If you are looking for a spacious home don't pass this one up. Come take a look.

25. 2024-09-06
    soldstatus $170,000 Sold
26. 2024-09-06
    soldstatus $170,000 Closed
27. 2024-09-06
    soldstatus $170,000 Sold
28. 2024-09-06
    soldstatus $170,000
29. 2024-08-27
    status Pending
30. 2024-08-27
    status Pending
31. 2024-08-27
    status Pending
32. 2024-06-29
    historical Accepting Backup Offers
33. 2024-06-29
    historical Accepting Backup Offers
34. 2024-06-29
    historical Active - Backup Offers Accepted
35. 2024-06-08
    price $182,000
36. 2024-06-08
    price $182,000
37. 2024-06-08
    price $182,000
38. 2024-05-23
    price $197,000
39. 2024-05-23
    price $197,000
40. 2024-05-23
    price $197,000
41. 2024-03-10
    price $199,900
42. 2024-03-10
    price $199,900
43. 2024-03-09
    price $199,900
44. 2024-01-27
    listed $214,000 Active
45. 2024-01-27
    listed $214,000 Active
46. 2024-01-27
    listed $214,000 Active

ⓘ 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: $439 · $37/mo
• Projected year-2 tax: $1,489 · $124/mo
• Expected delta: +$1,050/yr (+$88/mo · 239.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥94°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,222
• − Mortgage interest: −$9,237
• − Property taxes: −$439
• − Insurance: −$824
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$4,797
• Taxable loss: −$4,190
• Est. tax savings @ 24.0%: +$1,006
• After-tax cash flow: $-189/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: Farwell Area Schools
• NCES district ID: 2614100
• Math proficiency: 24% ▼ -8.00%
• Reading proficiency: 34% ▼ -8.00%
• Median HH income: $36,696
• Composite: 24.07/100
• National rank: #7760
• State rank: #388 of 540 in MI

Livability — Garfield

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

Census & demographics

• Population (ZIP): 4,995

Population outlook (Clare County) Hauer SSP2

• Today (2025): 29,283 people
• By 2030: 28,199 · -3.7%
• By 2040: 25,722 · -12.2%
• By 2050: 23,372 · -20.2%
• By 2075: 18,569 · -36.6%
• By 2100: 14,320 · -51.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Romanian 7% Lithuanian 3% Slovak 2%
• Foreign-born: 2% · Canada, China, South Korea
• Languages at home: 95% English-only · German/W. Germanic 2% Spanish 1% Chinese 1%

Political lean MEDSL · Clare

• 2024 margin: Solid R (+37.6) · D 30.5% · R 68.1% · Other 1.4%
• 2008→2024 swing: -42.4pp toward R · 2008: 4.8pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+34.8 2016: R+31.8 2012: R+4.8 2008: D+4.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.83%
• Current HPI: 234.5118
• 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

-20.6% since first listed

30 events — show timeline

• 2026-03-21 Price Changed $169,900 MiRealSource-MiMLS
• 2026-03-21 Price Changed $169,900 REALCOMP
• 2025-11-21 Price Changed $175,000 MiRealSource-MiMLS
• 2025-11-20 Price Changed $175,000 REALCOMP
• 2025-11-12 Price Changed $189,000 MiRealSource-MiMLS
• 2025-11-12 Price Changed $189,000 REALCOMP
• 2025-09-17 Listed $194,500 REALCOMP
• 2025-09-17 Listed $194,500 MiRealSource-MiMLS
• 2024-09-06 Sold (Public Records) $170,000 Public Records
• 2024-09-06 Sold (MLS) $170,000 SW Michigan MLS
• 2024-09-06 Sold (MLS) $170,000 MiRealSource-MiMLS
• 2024-09-06 Sold (MLS) $170,000 REALCOMP
• 2024-08-27 Pending — MiRealSource-MiMLS
• 2024-08-27 Pending — REALCOMP
• 2024-08-27 Pending — SW Michigan MLS
• 2024-06-29 Contingent — REALCOMP
• 2024-06-29 Contingent — MiRealSource-MiMLS
• 2024-06-29 Contingent — SW Michigan MLS
• 2024-06-08 Price Changed $182,000 MiRealSource-MiMLS
• 2024-06-08 Price Changed $182,000 REALCOMP
• 2024-06-08 Price Changed $182,000 SW Michigan MLS
• 2024-05-23 Price Changed $197,000 MiRealSource-MiMLS
• 2024-05-23 Price Changed $197,000 REALCOMP
• 2024-05-23 Price Changed $197,000 SW Michigan MLS
• 2024-03-10 Price Changed $199,900 MiRealSource-MiMLS
• 2024-03-10 Price Changed $199,900 REALCOMP
• 2024-03-09 Price Changed $199,900 SW Michigan MLS
• 2024-01-27 Listed $214,000 SW Michigan MLS
• 2024-01-27 Listed $214,000 MiRealSource-MiMLS
• 2024-01-27 Listed $214,000 REALCOMP

Property tax history

-4.3%/yr

Latest (2025): $439 · -54.0% YoY. Source: county tax records.