107 Gardens Blvd NW · Walker, MI 49534

$130,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured · 19 Days on market

Built 2022 Fair condition $86/sqft · 53% above area $690/mo HOA · 29% of rent

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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 +25.2/30.0
• 1% rule +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 107 Gardens Blvd NW, Grand Rapids, MI 49534!This beautiful 2022 Clayton home in Leonard Gardens offers 3 bedrooms, 2 bathrooms, and 1,512 sq ft of living space. Enjoy a spacious primary suite with walk-in closet, central A/C, natural gas heat, a large shed, deck, gutters, and upgraded electrical. Kitchen appliances, washer, and dryer are all included. Located in the Kenowa Hills School District with easy access to shopping and major highways. Lot rent: $690/monthOffered at $130,000. Message for more details or to schedule a showing! This home is located in a park and that the transaction will be subject to the parks approval of the buyer; Leonard GardensWelcome to 107 Gardens Blvd NW, Grand Rapids, MI 49534! This beautiful 2022 Clayton home in Leonard Gardens offers 3 bedrooms, 2 bathrooms, and 1,512 sq ft of living space. Enjoy a spacious primary suite with walk-in closet, central A/C, natural gas heat, a large shed, deck, gutters, and upgraded electrical. Kitchen appliances, washer, and dryer are all included. Located in the Kenowa Hills School District with easy access to shopping and major highways. Lot rent: $690/month Offered at $130,000. Message for more details or to schedule a showing!

Key facts

• Gutters
• Walk-in closet
• Natural gas heat

Tags

• WALK-IN CLOSET
• CENTRAL A/C
• NATURAL GAS HEAT
• LARGE SHED
• DECK
• GUTTERS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 4.1% in Walker — 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 74/100 on livability (#188 in MI, #4,765 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, health & safety F.
• Coopersville Area Public School District (town): math 36% / reading 46% proficiency, ranked #178 of 540 in MI (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.9%/yr); 111 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).
• This rent runs 35% of the median local income ($82k/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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ottawa County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($128k) 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 29% of rent.

Recommended offer $128,050 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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.
5. 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.
6. 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: 1.83% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.60%
• DSCR: 1.43
• GRM: 4.6

CMA / ARV

• ARV (median comp): $85,166
• List price: $130,000
• Delta: 52.64%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11792 Brisben Ln NW	0.20mi	3/2.0	1,568 (+4%)	10mo	$115,000	$73	76
79 Shapell Ln NW	0.22mi	3/2.0	1,456 (-4%)	9mo	$115,000	$79	76
135 Shapell Ln NW	0.25mi	3/2.0	1,371 (-9%)	9mo	$90,000	$66	66
4598 Gardens Blvd NW	0.33mi	3/2.0	1,293 (-14%)	6mo	$94,900	$73	55

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 · 7.87% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.28×
• Total profit: $10,183
• Equity at exit: $19,383

10-year hold

• IRR: 21.6%
• Equity multiple: 3.48×
• Total profit: $90,150
• Equity at exit: $11,240

Cash invested: $36,400 (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 49534

• Home prices YoY: -28.4%
• Rents YoY: 7.9%
• Active inventory: 111
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $2,379 medium
• Mortgage (P&I): −$682
• Tax est. 1.5%: −$162 /mo · $1,950/yr
• Insurance: −$54
• HOA: −$690
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $291

Break-even live

Break-even rent $2,011

Max offer price $130,000

Occupancy floor 83%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4618 W Grand Blvd NW Grand Rapids, MI	4.0	2.0	1932	$2,600	$1.35	11d	1	0.37mi

HOA detail

• Monthly dues: $690 · $8,280/yr
• Likely covers: gaselectric

Listing history 6 events

1. 2026-05-08
   status Pending 1226-char remark

   Show marketing remark (673 chars)

   Welcome to 107 Gardens Blvd NW, Grand Rapids, MI 49534!This beautiful 2022 Clayton home in Leonard Gardens offers 3 bedrooms, 2 bathrooms, and 1,512 sq ft of living space. Enjoy a spacious primary suite with walk-in closet, central A/C, natural gas heat, a large shed, deck, gutters, and upgraded electrical. Kitchen appliances, washer, and dryer are all included. Located in the Kenowa Hills School District with easy access to shopping and major highways. Lot rent: $690/monthOffered at $130,000. Message for more details or to schedule a showing! This home is located in a park and that the transaction will be subject to the parks approval of the buyer; Leonard Gardens

2. 2026-05-08
   status Pending 673-char remark

   Show marketing remark (673 chars)

   Welcome to 107 Gardens Blvd NW, Grand Rapids, MI 49534!This beautiful 2022 Clayton home in Leonard Gardens offers 3 bedrooms, 2 bathrooms, and 1,512 sq ft of living space. Enjoy a spacious primary suite with walk-in closet, central A/C, natural gas heat, a large shed, deck, gutters, and upgraded electrical. Kitchen appliances, washer, and dryer are all included. Located in the Kenowa Hills School District with easy access to shopping and major highways. Lot rent: $690/monthOffered at $130,000. Message for more details or to schedule a showing! This home is located in a park and that the transaction will be subject to the parks approval of the buyer; Leonard Gardens

3. 2026-05-08
   status Pending

   Show marketing remark (673 chars)

   Welcome to 107 Gardens Blvd NW, Grand Rapids, MI 49534!This beautiful 2022 Clayton home in Leonard Gardens offers 3 bedrooms, 2 bathrooms, and 1,512 sq ft of living space. Enjoy a spacious primary suite with walk-in closet, central A/C, natural gas heat, a large shed, deck, gutters, and upgraded electrical. Kitchen appliances, washer, and dryer are all included. Located in the Kenowa Hills School District with easy access to shopping and major highways. Lot rent: $690/monthOffered at $130,000. Message for more details or to schedule a showing! This home is located in a park and that the transaction will be subject to the parks approval of the buyer; Leonard Gardens

4. 2026-04-18
   listed $130,000 Active 1226-char remark

   Show marketing remark (673 chars)

   Welcome to 107 Gardens Blvd NW, Grand Rapids, MI 49534!This beautiful 2022 Clayton home in Leonard Gardens offers 3 bedrooms, 2 bathrooms, and 1,512 sq ft of living space. Enjoy a spacious primary suite with walk-in closet, central A/C, natural gas heat, a large shed, deck, gutters, and upgraded electrical. Kitchen appliances, washer, and dryer are all included. Located in the Kenowa Hills School District with easy access to shopping and major highways. Lot rent: $690/monthOffered at $130,000. Message for more details or to schedule a showing! This home is located in a park and that the transaction will be subject to the parks approval of the buyer; Leonard Gardens

5. 2026-04-18
   listed $130,000 Active 673-char remark

   Show marketing remark (673 chars)

   Welcome to 107 Gardens Blvd NW, Grand Rapids, MI 49534!This beautiful 2022 Clayton home in Leonard Gardens offers 3 bedrooms, 2 bathrooms, and 1,512 sq ft of living space. Enjoy a spacious primary suite with walk-in closet, central A/C, natural gas heat, a large shed, deck, gutters, and upgraded electrical. Kitchen appliances, washer, and dryer are all included. Located in the Kenowa Hills School District with easy access to shopping and major highways. Lot rent: $690/monthOffered at $130,000. Message for more details or to schedule a showing! This home is located in a park and that the transaction will be subject to the parks approval of the buyer; Leonard Gardens

6. 2026-04-18
   listed $130,000 Active

   Show marketing remark (673 chars)

   Welcome to 107 Gardens Blvd NW, Grand Rapids, MI 49534!This beautiful 2022 Clayton home in Leonard Gardens offers 3 bedrooms, 2 bathrooms, and 1,512 sq ft of living space. Enjoy a spacious primary suite with walk-in closet, central A/C, natural gas heat, a large shed, deck, gutters, and upgraded electrical. Kitchen appliances, washer, and dryer are all included. Located in the Kenowa Hills School District with easy access to shopping and major highways. Lot rent: $690/monthOffered at $130,000. Message for more details or to schedule a showing! This home is located in a park and that the transaction will be subject to the parks approval of the buyer; Leonard Gardens

ⓘ 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: $28,553
• − Mortgage interest: −$7,282
• − Property taxes: −$1,950
• − Insurance: −$650
• − Repairs & maintenance: −$2,284
• − Management: −$2,284
• − HOA: −$8,280
• − Depreciation: −$3,782
• Taxable income: $2,041
• Est. tax owed @ 24.0%: −$490
• After-tax cash flow: $3,006/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 · 1 photo

Fair 45/100 Cosmetic rehab

This 2022 Clayton manufactured home in Leonard Gardens offers 3 bedrooms and 2 bathrooms. It has average exterior siding and landscaping, which can be improved with minor repairs and maintenance.

Repairs flagged

• Minor exterior siding — Weathered blue siding
• Minor landscaping — Sparse vegetation

Value-add opportunities

• Both paint exterior — Enhances curb appeal and value
• Both landscaping — Improves curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered blue siding	Minor	$500–3,000
landscaping · Sparse vegetation	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint exterior — Enhances curb appeal and value ↑
• Both landscaping — Improves curb appeal and value ↑

ⓘ 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: Coopersville Area Public School District
• NCES district ID: 2610830
• Math proficiency: 36% ▼ -7.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $59,136
• Composite: 36.16/100
• National rank: #4737
• State rank: #178 of 540 in MI

Livability — Walker

• Score: 74/100
• State rank: #188
• US rank: #4765

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 533,805 people
• City population: 33,350
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 23,719
• Household income: $81,657
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 415.0

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 313,561 people
• By 2030: 330,027 · +5.3%
• By 2040: 361,118 · +15.2%
• By 2050: 388,414 · +23.9%
• By 2075: 452,175 · +44.2%
• By 2100: 473,041 · +50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Iranian 20% Romanian 12% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+20.4) · D 39.0% · R 59.5% · Other 1.5%
• 2008→2024 swing: +3.4pp toward D · 2008: -23.9pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+21.5 2016: R+30.4 2012: R+34.2 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.59%
• Current HPI: 270.866
• Rent YoY: ▲ 7.87%
• Metro: Grand Rapids-Kentwood, 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

+0.0% since first listed

6 events — show timeline

• 2026-05-08 Pending — REALCOMP
• 2026-05-08 Pending — MiRealSource-MiMLS
• 2026-05-08 Pending — SW Michigan MLS
• 2026-04-18 Listed $130,000 SW Michigan MLS
• 2026-04-18 Listed $130,000 MiRealSource-MiMLS
• 2026-04-18 Listed $130,000 REALCOMP