4096 Chicory Ln · Garfield, MI 49685

$64,000

3 bd · 1.0 ba · 1,216 sqft · Manufactured public records · 140 Days on market

Built 2018 Good condition $53/sqft · 51% above area ↓ 19% 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
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully done in the modern Farm House flair with netural tones. Located on a corner lot in Meadow Lane mobile home community is this 2018 16 x 76 Clayton single wide with 3 bedrooms and 2 full bath. Home offers a very open living space. Island kitchen with a deep sink, plenty of cabinets, appliance. Extras: Tall ceilings, walk-in shower, sconce lighting. Some furniture can stay. Current lot rent $951 includes trash water sewer. Pet friendly with restrictions, play areas, community room, easy in and out of park.

Key facts

• Island kitchen
• Open living space
• Walk-in shower

Tags

• CORNER LOT
• ISLAND KITCHEN
• OPEN LIVING SPACE
• WALK-IN SHOWER
• COMMUNITY ROOM
• PET FRIENDLY

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $64k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $724 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $56k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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 $442 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 140 days — a 12% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $56,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 140 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. 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: 2.31% ✓
• Cap rate: 19.86%
• Cash-on-cash: 48.45%
• DSCR: 3.16
• GRM: 3.6

CMA / ARV

• ARV (median comp): $42,411
• List price: $64,000
• Delta: 50.90%
• Verdict: OVERPRICED
• Comps: 15 within 1.0 mi

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: $35,734
• Equity at exit: $9,543

10-year hold

• IRR: 51.8%
• Equity multiple: 6.05×
• Total profit: $90,547
• Equity at exit: $5,534

Cash invested: $17,920 (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: $1,476 medium
• Mortgage (P&I): −$336
• Tax est. 1.5%: −$80 /mo · $960/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $724

Break-even live

Break-even rent $560

Max offer price $64,000

Occupancy floor 46%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4170 Lilac Ln Unit 905 Traverse City, MI	3.0	2.0	1120	$1,419	$1.27	43d	1	0.05mi
4418 E Daisy Ln Unit 156 Traverse City, MI	2.0	2.0	896	$1,649	$1.84	43d	1	0.24mi

Listing history 15 events

1. 2026-06-15
   days on market $64,000 Active 140 DOM
2. 2026-06-14
   days on market $64,000 Active 138 DOM
3. 2026-06-12
   days on market $64,000 Active 137 DOM
4. 2026-06-09
   days on market $64,000 Active 134 DOM
5. 2026-06-08
   days on market $64,000 Active 133 DOM
6. 2026-06-07
   days on market $64,000 Active 132 DOM
7. 2026-06-03
   days on market $64,000 Active 128 DOM
8. 2026-06-02
   days on market $64,000 Active 127 DOM
9. 2026-06-01
   days on market $64,000 Active 126 DOM
10. 2026-05-31
    days on market $64,000 Active 125 DOM
11. 2026-05-30
    days on market $64,000 Active 124 DOM
12. 2026-04-10
    price $64,000 520-char remark

    Show marketing remark (520 chars)

    Beautifully done in the modern Farm House flair with netural tones. Located on a corner lot in Meadow Lane mobile home community is this 2018 16 x 76 Clayton single wide with 3 bedrooms and 2 full bath. Home offers a very open living space. Island kitchen with a deep sink, plenty of cabinets, appliance. Extras: Tall ceilings, walk-in shower, sconce lighting. Some furniture can stay. Current lot rent $951 includes trash water sewer. Pet friendly with restrictions, play areas, community room, easy in and out of park.

13. 2026-04-10
    price $64,000 520-char remark

    Show marketing remark (520 chars)

    Beautifully done in the modern Farm House flair with netural tones. Located on a corner lot in Meadow Lane mobile home community is this 2018 16 x 76 Clayton single wide with 3 bedrooms and 2 full bath. Home offers a very open living space. Island kitchen with a deep sink, plenty of cabinets, appliance. Extras: Tall ceilings, walk-in shower, sconce lighting. Some furniture can stay. Current lot rent $951 includes trash water sewer. Pet friendly with restrictions, play areas, community room, easy in and out of park.

14. 2026-01-26
    listed $79,000 Active 520-char remark

    Show marketing remark (520 chars)

    Beautifully done in the modern Farm House flair with netural tones. Located on a corner lot in Meadow Lane mobile home community is this 2018 16 x 76 Clayton single wide with 3 bedrooms and 2 full bath. Home offers a very open living space. Island kitchen with a deep sink, plenty of cabinets, appliance. Extras: Tall ceilings, walk-in shower, sconce lighting. Some furniture can stay. Current lot rent $951 includes trash water sewer. Pet friendly with restrictions, play areas, community room, easy in and out of park.

15. 2026-01-26
    listed $79,000 Active 520-char remark

    Show marketing remark (520 chars)

    Beautifully done in the modern Farm House flair with netural tones. Located on a corner lot in Meadow Lane mobile home community is this 2018 16 x 76 Clayton single wide with 3 bedrooms and 2 full bath. Home offers a very open living space. Island kitchen with a deep sink, plenty of cabinets, appliance. Extras: Tall ceilings, walk-in shower, sconce lighting. Some furniture can stay. Current lot rent $951 includes trash water sewer. Pet friendly with restrictions, play areas, community room, easy in and out of park.

ⓘ 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: $17,709
• − Mortgage interest: −$3,585
• − Property taxes: −$960
• − Insurance: −$320
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − Depreciation: −$1,862
• Taxable income: $8,149
• Est. tax owed @ 24.0%: −$1,956
• After-tax cash flow: $6,727/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 · 12 photos

Good 80/100 Cosmetic rehab

This modern mobile home in Meadow Lane mobile home community is in good condition with cosmetic updates needed to enhance its curb appeal and value.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Replace the kitchen faucet — Modernizes the kitchen and adds value.
• Both Install new flooring in the bathrooms — Improves the look and feel of the bathrooms, increasing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Replace the kitchen faucet — Modernizes the kitchen and adds value. ↑
• Both Install new flooring in the bathrooms — Improves the look and feel of the bathrooms, increasing both resale and rental 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: 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 — Garfield

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

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

-19.0% since first listed

4 events — show timeline

• 2026-04-10 Price Changed $64,000 MiRealSource-MiMLS
• 2026-04-10 Price Changed $64,000 REALCOMP
• 2026-01-26 Listed $79,000 REALCOMP
• 2026-01-26 Listed $79,000 MiRealSource-MiMLS