4446 Jardin Dr NW · Walker, MI 49534

$64,900

2 bd · 1.0 ba · 750 sqft · Manufactured · 33 Days on market

Built 1991 Good condition $680/mo HOA · 42% of rent

---

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
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss out on this beautiful and well kept single wide in the desirable Leonard Gardens manufactured home park. This is a 2 bedroom 1 bathroom mobile home. Located at the end of a short dead end street this home offers a great setting for a peaceful and quiet home. Only a short drive to all the amenities that Walker has to offer!

Key facts

• Built 1991
• Listed 33 days

Tags

• SHORT DEAD END STREET
• SHORT DRIVE TO AMENITIES

Property features AI

Finance

• Other:
• Financial info:
• HOA & community: Monthly association fee of $680 that includes water and sewer; Property is part of an association

Exterior

• Parking:
• Security:
• Utilities: Public water; Public sewer included in association fee
• Home design: Ranch-style residential property; Built in 1991
• Construction: Vinyl siding; Shingle roof; Slab foundation
• Exterior features: Paved road access; Shed(s) on the property

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Replacement windows; 4 total rooms
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $145 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $63k (3.0% 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.
• Kenowa Hills Public Schools (suburban): math 33% / reading 46% proficiency, ranked #205 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kenowa Hills Middle School (math 28% / reading 44%, grade F, #269 of 493 statewide, top 56%, 623 students, 54% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 111 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $449 of loan paydown is wiped out by about $2k 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 + 7.9% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 2.48% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.58%
• DSCR: 1.43
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.87% rent growth · sell at horizon

5-year hold

• IRR: 9.3%
• Equity multiple: 1.41×
• Total profit: $7,449
• Equity at exit: $9,677

10-year hold

• IRR: 25.1%
• Equity multiple: 4.18×
• Total profit: $57,790
• Equity at exit: $5,611

Cash invested: $18,172 (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 49534

• Home prices YoY: -28.4%
• Rents YoY: 7.9%
• Active inventory: 111
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,612 high
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$680
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $145

Break-even live

Break-even rent $1,428

Max offer price $64,900

Occupancy floor 86%

Sensitivity live

Price	-10% $190	-5% $167	+0% $145	+5% $123	+10% $100
Rent	-10% $18	-5% $81	+0% $145	+5% $209	+10% $272
Rate	-1.0pp $178	-0.5pp $162	base $145	+0.5pp $128	+1.0pp $111

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
327 Cummings Ave NW Grand Rapids, MI	1.0	1.5	1040	$1,749	$1.68	45d	1	1.02mi
511 Hampton Ln NW Walker, MI	1.0–2.0	1.0	763	$1,519	$1.99	4d	5	1.07mi
306 Manzana Ct NW Walker, MI	1.0–2.0	1.0	683	$1,392	$2.04	4d	52	1.30mi
680 Lake Michigan Dr NW Unit O-686 Grand Rapids, MI	2.0	1.0	900	$1,375	$1.53	4d	1	1.46mi
680 Lake Michigan Dr NW Unit O-682 Grand Rapids, MI	2.0	1.0	900	$1,275	$1.42	45d	1	1.46mi
680 Lake Michigan Dr NW Unit O-680 Grand Rapids, MI	2.0	1.0	900	$1,399	$1.55	13d	1	1.46mi

HOA detail

• Monthly dues: $680 · $8,160/yr

Listing history 18 events

1. 2026-06-21
   days on market $64,900 Active 33 DOM
2. 2026-06-19
   price $64,900 Active 30 DOM
3. 2026-06-18
   days on market $70,000 Active 30 DOM
4. 2026-06-17
   days on market $70,000 Active 29 DOM
5. 2026-06-16
   days on market $70,000 Active 28 DOM
6. 2026-06-15
   days on market $70,000 Active 27 DOM
7. 2026-06-14
   days on market $70,000 Active 25 DOM
8. 2026-06-10
   days on market $70,000 Active 22 DOM
9. 2026-06-09
   days on market $70,000 Active 21 DOM
10. 2026-06-08
    days on market $70,000 Active 20 DOM
11. 2026-06-07
    days on market $70,000 Active 19 DOM
12. 2026-06-03
    days on market $70,000 Active 15 DOM
13. 2026-06-03
    days on market $70,000 Active 14 DOM
14. 2026-06-01
    days on market $70,000 Active 13 DOM
15. 2026-05-31
    days on market $70,000 Active 12 DOM
16. 2026-05-19
    listed $70,000 Active

    Show marketing remark (335 chars)

    Don't miss out on this beautiful and well kept single wide in the desirable Leonard Gardens manufactured home park. This is a 2 bedroom 1 bathroom mobile home. Located at the end of a short dead end street this home offers a great setting for a peaceful and quiet home. Only a short drive to all the amenities that Walker has to offer!

17. 2026-05-19
    listed $70,000 Active 335-char remark

    Show marketing remark (335 chars)

    Don't miss out on this beautiful and well kept single wide in the desirable Leonard Gardens manufactured home park. This is a 2 bedroom 1 bathroom mobile home. Located at the end of a short dead end street this home offers a great setting for a peaceful and quiet home. Only a short drive to all the amenities that Walker has to offer!

18. 2026-05-19
    listed $70,000 Active 335-char remark

    Show marketing remark (335 chars)

    Don't miss out on this beautiful and well kept single wide in the desirable Leonard Gardens manufactured home park. This is a 2 bedroom 1 bathroom mobile home. Located at the end of a short dead end street this home offers a great setting for a peaceful and quiet home. Only a short drive to all the amenities that Walker has to offer!

ⓘ 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: $19,345
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$1,548
• − Management: −$1,548
• − HOA: −$8,160
• − Depreciation: −$1,888
• Taxable income: $1,268
• Est. tax owed @ 24.0%: −$304
• After-tax cash flow: $1,436/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 · 17 photos

Good 75/100 Cosmetic rehab

This single-wide manufactured home in Leonard Gardens is in good condition with minor repairs needed. It offers a peaceful setting and is ready for a fresh paint job and new carpet to enhance its curb appeal and interior aesthetics.

Repairs flagged

• Minor Kitchen countertops — Worn appearance
• Minor Paint touch-ups — Chipped paint

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn carpet — New carpet improves comfort and adds value
• Both Update kitchen countertops — New countertops modernize the space and add value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Worn appearance	Minor	$500–3,000
Paint touch-ups · Chipped paint	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn carpet — New carpet improves comfort and adds value ↑
• Both Update kitchen countertops — New countertops modernize the space and add 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: Kenowa Hills Public Schools
• NCES district ID: 2620280
• Math proficiency: 33% ▬ 0.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,387
• Composite: 34.36/100
• National rank: #5221
• State rank: #205 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

• Census place: Walker, MI
• 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 (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% 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 · 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: ▼ -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

3 events — show timeline

• 2026-05-19 Listed $70,000 MiRealSource-MiMLS
• 2026-05-19 Listed $70,000 REALCOMP
• 2026-05-19 Listed $70,000 SW Michigan MLS