1511 Geraldton Pl · Garfield, MI 49686

$24,000

3 bd · 1.0 ba · 1,235 sqft · Manufactured public records · 6 Days on market

Built 1979

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.4/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Time to roll up your sleeves? This 1979 3 bedroom 1 bath Holly Park. single wide will need some love. Different layout than most. Enclosed front porch, parking for 2, along with a back deck, and shed. Inside you will find a front step up dining, kitchen area with a center island stove and plenty of cabinets. The living room has a 12 x 8 extension for the living room, the 3rd bedroom is an addition, appox. 20 x 10 with a door that leads to a large deck , the other two bedrooms and full bath is in back of home. Located in Kings Court where you will pay for monthly lot rent currently $997 which included your trash-water-cable. CASH only

Key facts

• Large deck
• 3rd bedroom addition
• Center island stove

Tags

• ENCLOSED FRONT PORCH
• BACK DECK
• CENTER ISLAND STOVE
• 3RD BEDROOM ADDITION
• LARGE DECK

Property features AI

Finance

• HOA & community: Pets allowed in the community

Exterior

• Utilities: Community well water; Community sewer
• Home design: Manufactured single-wide home; Residential property; Built in 1979
• Construction: Manufactured construction; Single-wide manufactured body type
• Exterior features: Aluminum exterior; Shed on the property; No water features

Interior

• Kitchen: Range/Oven; Refrigerator; 12 x 14 kitchen
• Bedrooms: First-floor bedroom (Main level) — approx. 10 x 9, 15 x 13, and a third bedroom ~17' width
• Bathrooms: One full bathroom (total 1)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Pantry; Basement (type: Other)
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $24k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $24k).

Location & tenants

• Location reads: area grade D — 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: Rents soft (-0.5%/yr); 328 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 883 units permitted in Grand Traverse County in 2024 (501 in 5+ unit buildings).
• This rent runs 35% of the median local income ($72k/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 $166 of loan paydown is wiped out by about $720 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 + 0.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Recommended offer $24,000

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 8.70% ✓
• Cap rate: 81.42%
• Cash-on-cash: 268.33%
• DSCR: 12.94
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.76×
• Total profit: $85,714
• Equity at exit: $3,578

10-year hold

• IRR: —
• Equity multiple: 26.94×
• Total profit: $174,298
• Equity at exit: $2,075

Cash invested: $6,720 (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 49686

• Rents YoY: -0.5%
• Active inventory: 328
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $2,089 high
• Mortgage (P&I): −$126
• Tax from tax record: −$12 /mo · $138/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $1,503

Break-even live

Break-even rent $187

Max offer price $24,000

Occupancy floor 23%

Sensitivity live

Price	-10% $1,516	-5% $1,509	+0% $1,503	+5% $1,496	+10% $1,489
Rent	-10% $1,338	-5% $1,420	+0% $1,503	+5% $1,585	+10% $1,668
Rate	-1.0pp $1,515	-0.5pp $1,509	base $1,503	+0.5pp $1,496	+1.0pp $1,490

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1585 Ray Blvd Traverse City, MI	3.0	2.0	1246	$1,699	$1.36	45d	1	0.18mi
2944 Glen Dr Traverse City, MI	3.0	2.0	1165	$1,800	$1.55	45d	1	0.23mi
1555 Ridge Blvd Traverse City, MI	3.0	1.0–2.0	1059	$2,225	$2.10	45d	1	0.36mi
1555 Ridge Blvd Traverse City, MI	2.0	1.0–2.0	1063	$1,935	$1.82	45d	11	0.36mi
1021 Manitou Dr Unit 3 Bedroom/2 Bathroom Waitlist Traverse City, MI	3.0	2.0	1330	$2,000	$1.50	45d	1	0.58mi
1021 Manitou Dr Unit 2 Bedroom/1 Bathroom Waitlist Traverse City, MI	2.0	1.0	1056	$1,700	$1.61	45d	1	0.58mi
1560 Simsbury St Traverse City, MI	2.0–3.0	1.5–2.0	1293	$2,775	$2.15	45d	8	1.22mi
1542 Simsbury St #7 Traverse City, MI	3.0	2.0	1446	$2,775	$1.92	45d	1	1.22mi

Listing history 7 events

1. 2026-06-21
   days on market $24,000 Active 6 DOM
2. 2026-06-19
   days on market $24,000 Active 4 DOM
3. 2026-06-18
   listing id $24,000 Active 3 DOM
4. 2026-06-18
   days on market $24,000 Active 3 DOM
5. 2026-06-17
   days on market $24,000 Active 2 DOM
6. 2026-06-16
   remarks 641-char remark
7. 2026-06-16
   listed $24,000 Active 1 DOM

ⓘ 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: $138 · $12/mo
• Projected year-2 tax: $254 · $21/mo
• Expected delta: +$116/yr (+$10/mo · 83.4%)

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

Taxation est. · year 1

• Rental income: $25,064
• − Mortgage interest: −$1,344
• − Property taxes: −$138
• − Insurance: −$120
• − Repairs & maintenance: −$2,005
• − Management: −$2,005
• − Depreciation: −$698
• Taxable income: $18,753
• Est. tax owed @ 24.0%: −$4,501
• After-tax cash flow: $13,531/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: 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

• County: Grand Traverse County · 47,077 people
• Metro: Traverse City, MI
• Population (ZIP): 25,492
• Household income: $71,609
• Rent vs Own: 27.5% rent · 72.5% own
• Severe rent burden: 676.0

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 (91%)
• Race & ethnicity: White 91% Two or more races 6% Hispanic / Latino 5% Native American 1%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 11% Lithuanian 5% Slovak 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -276.28%
• Current HPI: 352.4866
• Rent YoY: ▼ -0.49%
• Metro: Traverse City, 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

2 events — show timeline

• 2026-06-15 Listed $24,000 REALCOMP
• 2026-06-15 Listed $24,000 MiRealSource-MiMLS

Property tax history

-3.5%/yr

Latest (2025): $138 · -3.5% YoY. Source: county tax records.