701 Martin Luther King Jr St SE · Grand Rapids, MI 49507

$135,000

4 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 4 Days on market

Built 1890 2,940 sqft lot $116/sqft · 69% below area

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable 4-bedroom home in a great location with an excellent rental history and strong income-producing potential. This turn-key property has a tenant already in place, making it a great investment opportunity from day one. Opportunity to build equity while generating income. Ideal as a rental property or a starter home for a future homeowner. Seller instructs Listing Agent/Broker that Seller will not review any offers until Monday May 18th at 6:00pm.

Key facts

• 2,940 sq ft lot
• Built 1890
• Listed 4 days

Property features AI

Exterior

• Utilities: Public water; Natural gas available and connected; Electricity available
• Home design: Traditional style single-family home; Built in 1890
• Construction: Vinyl siding; Composition roof
• Exterior features: Corner lot; Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom; Three additional bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas available and connected; Electricity available
• Interior features: Six total rooms; Michigan-style basement
• Laundry & utility: Washer; Dryer; Natural gas water heater

🏷️ Possibly a rental listed for sale. The $135,000 price doesn't fit this home's estimated sale value (~$439,562) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $726 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 12.7% vs local median 4.5% in Grand Rapids — 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 83/100 on livability (#44 in MI, #939 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-, crime F.
• Grand Rapids Public Schools (urban): math 15% / reading 29% proficiency, ranked #451 of 540 in MI (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.7%/yr); 178 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 39% of the median local income ($61k/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 $933 of loan paydown is wiped out by about $4k 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 + 4.7% rent growth), your $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 30 sale attempts since 38y ago 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: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1890 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.49% ✓
• Cap rate: 12.74%
• Cash-on-cash: 23.04%
• DSCR: 2.03
• GRM: 5.6

CMA / ARV

• ARV (median comp): $439,562
• List price: $135,000
• Delta: -69.29%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.74% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 1.74×
• Total profit: $27,928
• Equity at exit: $20,129

10-year hold

• IRR: 27.5%
• Equity multiple: 3.62×
• Total profit: $99,067
• Equity at exit: $11,672

Cash invested: $37,800 (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 49507

• Rents YoY: 4.7%
• Active inventory: 178
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,016 high
• Mortgage (P&I): −$708
• Tax from tax record: −$103 /mo · $1,235/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $726

Break-even live

Break-even rent $1,098

Max offer price $135,000

Occupancy floor 59%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
840 Lafayette Ave SE Unit 2 Grand Rapids, MI	3.0	1.0	950	$1,600	$1.68	44d	1	0.48mi
258 Orchard Hill St SE Grand Rapids, MI	3.0	1.0	1300	$1,900	$1.46	44d	1	0.84mi
350 Ionia Ave SW Grand Rapids, MI	2.0–3.0	2.0–3.0	1400	$1,350	$0.96	11d	2	1.05mi
209 Division Ave S Grand Rapids, MI	1.0–3.0	1.0–2.0	1180	$1,495	$1.27	21d	2	1.08mi
325 Norwood Ave SE Grand Rapids, MI	3.0	1.5	1398	$2,700	$1.93	23d	1	1.18mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	44d	1	1.30mi

Listing history 50 events

1. 2026-05-14
   listed $135,000 Active 458-char remark

   Show marketing remark (458 chars)

   Affordable 4-bedroom home in a great location with an excellent rental history and strong income-producing potential. This turn-key property has a tenant already in place, making it a great investment opportunity from day one. Opportunity to build equity while generating income. Ideal as a rental property or a starter home for a future homeowner. Seller instructs Listing Agent/Broker that Seller will not review any offers until Monday May 18th at 6:00pm.

2. 2026-05-14
   listed $135,000 Active 458-char remark

   Show marketing remark (458 chars)

   Affordable 4-bedroom home in a great location with an excellent rental history and strong income-producing potential. This turn-key property has a tenant already in place, making it a great investment opportunity from day one. Opportunity to build equity while generating income. Ideal as a rental property or a starter home for a future homeowner. Seller instructs Listing Agent/Broker that Seller will not review any offers until Monday May 18th at 6:00pm.

3. 2026-05-14
   listed $135,000 Active

   Show marketing remark (458 chars)

   Affordable 4-bedroom home in a great location with an excellent rental history and strong income-producing potential. This turn-key property has a tenant already in place, making it a great investment opportunity from day one. Opportunity to build equity while generating income. Ideal as a rental property or a starter home for a future homeowner. Seller instructs Listing Agent/Broker that Seller will not review any offers until Monday May 18th at 6:00pm.

4. 2015-02-10
   historical
5. 2015-02-10
   historical
6. 2015-02-07
   historical
7. 2015-02-07
   historical
8. 2015-02-04
   historical
9. 2015-02-04
   historical
10. 2015-02-03
    historical
11. 2015-01-28
    historical
12. 2014-09-15
    historical
13. 2013-08-13
    soldstatus $19,500
14. 2013-08-13
    soldstatus $19,500
15. 2013-05-27
    listed $19,700
16. 2013-05-27
    listed $19,700
17. 2013-03-30
    historical
18. 2012-09-14
    listed $25,900
19. 2012-09-14
    listed $25,900
20. 2011-05-13
    historical
21. 2010-12-27
    listed $17,900
22. 2010-12-27
    listed $17,900
23. 2007-04-26
    historical
24. 2006-10-26
    listed $85,000
25. 2006-10-26
    listed $85,000
26. 2006-08-16
    historical
27. 2006-02-16
    listed $75,000
28. 2006-02-16
    listed $75,000
29. 2005-01-31
    soldstatus $43,000
30. 2005-01-20
    soldstatus $43,000
31. 2005-01-20
    soldstatus $43,000
32. 2004-06-09
    listed $48,000
33. 2004-06-09
    listed $48,000
34. 2004-05-07
    historical
35. 2003-11-07
    listed $48,000
36. 2003-11-07
    listed $48,000
37. 2003-11-06
    historical
38. 2003-05-06
    listed $62,900
39. 2003-05-06
    listed $62,900
40. 2001-07-26
    soldstatus $43,217
41. 2001-07-26
    soldstatus $43,217
42. 2001-05-13
    historical
43. 2000-09-15
    listed $44,900
44. 2000-09-15
    listed $44,900
45. 2000-09-12
    listed $44,900
46. 2000-09-12
    listed $44,900
47. 2000-02-16
    historical
48. 1999-08-16
    listed $33,000
49. 1999-08-16
    listed $33,000
50. 1993-04-13
    historical

ⓘ 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: $1,235 · $103/mo
• Projected year-2 tax: $1,657 · $138/mo
• Expected delta: +$422/yr (+$35/mo · 34.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,196
• − Mortgage interest: −$7,562
• − Property taxes: −$1,235
• − Insurance: −$675
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$3,927
• Taxable income: $6,925
• Est. tax owed @ 24.0%: −$1,662
• After-tax cash flow: $7,047/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: Grand Rapids Public Schools
• NCES district ID: 2616440
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 29% ▼ -1.00%
• Median HH income: $40,612
• Composite: 18.62/100
• National rank: #8899
• State rank: #451 of 540 in MI

Livability — Grand Rapids

• Score: 83/100
• State rank: #44
• US rank: #939

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Rapids, MI
• County: Kent County · 533,805 people
• City population: 181,325
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 38,487
• Household income: $61,461
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1625.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Hispanic / Latino 31% Black 31% White 30% Two or more races 21%
• Hispanic origin (detail): Mexican 18% Puerto Rican 3% Dominican 1%
• Common ancestry: Iranian 8% Romanian 2% Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 71% English-only · Spanish 23% Arabic 1% Other Indo-European 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: ▼ -301.99%
• Current HPI: 325.3878
• Rent YoY: ▲ 4.74%
• 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

+799.3% since first listed

63 events — show timeline

• 2026-06-02 Sold (Public Records) $125,000 Public Records
• 2026-05-29 Sold (MLS) $125,000 SW Michigan MLS
• 2026-05-29 Sold (MLS) $125,000 REALCOMP
• 2026-05-29 Sold (MLS) $125,000 MiRealSource-MiMLS
• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-19 Pending — REALCOMP
• 2026-05-19 Pending — SW Michigan MLS
• 2026-05-18 Listing Removed — REALCOMP
• 2026-05-14 Listed $135,000 SW Michigan MLS
• 2026-05-14 Listed $135,000 REALCOMP
• 2026-05-14 Listed $135,000 MiRealSource-MiMLS
• 2015-02-10 Listing Removed — SW Michigan MLS
• 2015-02-10 Listing Removed — SW Michigan MLS
• 2015-02-07 Listing Removed — SW Michigan MLS
• 2015-02-07 Listing Removed — SW Michigan MLS
• 2015-02-04 Listing Removed — SW Michigan MLS
• 2015-02-04 Listing Removed — SW Michigan MLS
• 2015-02-03 Listing Removed — SW Michigan MLS
• 2015-01-28 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2013-08-13 Sold (MLS) $19,500 REALCOMP
• 2013-08-13 Sold (MLS) $19,500 SW Michigan MLS
• 2013-05-27 Listed $19,700 REALCOMP
• 2013-05-27 Listed $19,700 SW Michigan MLS
• 2013-03-30 Listing Removed — REALCOMP
• 2012-09-14 Listed $25,900 REALCOMP
• 2012-09-14 Listed $25,900 SW Michigan MLS
• 2011-05-13 Listing Removed — REALCOMP
• 2010-12-27 Listed $17,900 REALCOMP
• 2010-12-27 Listed $17,900 SW Michigan MLS
• 2007-04-26 Listing Removed — REALCOMP
• 2006-10-26 Listed $85,000 REALCOMP
• 2006-10-26 Listed $85,000 SW Michigan MLS
• 2006-08-16 Listing Removed — REALCOMP
• 2006-02-16 Listed $75,000 REALCOMP
• 2006-02-16 Listed $75,000 SW Michigan MLS
• 2005-01-31 Sold (Public Records) $43,000 Public Records
• 2005-01-20 Sold (MLS) $43,000 REALCOMP
• 2005-01-20 Sold (MLS) $43,000 SW Michigan MLS
• 2004-06-09 Listed $48,000 REALCOMP
• 2004-06-09 Listed $48,000 SW Michigan MLS
• 2004-05-07 Listing Removed — REALCOMP
• 2003-11-07 Listed $48,000 REALCOMP
• 2003-11-07 Listed $48,000 SW Michigan MLS
• 2003-11-06 Listing Removed — REALCOMP
• 2003-05-06 Listed $62,900 REALCOMP
• 2003-05-06 Listed $62,900 SW Michigan MLS
• 2001-07-26 Sold (MLS) $43,217 REALCOMP
• 2001-07-26 Sold (MLS) $43,217 SW Michigan MLS
• 2001-05-13 Listing Removed — REALCOMP
• 2000-09-15 Listed $44,900 REALCOMP
• 2000-09-15 Listed $44,900 SW Michigan MLS
• 2000-09-12 Listed $44,900 REALCOMP
• 2000-09-12 Listed $44,900 SW Michigan MLS
• 2000-02-16 Listing Removed — REALCOMP
• 1999-08-16 Listed $33,000 REALCOMP
• 1999-08-16 Listed $33,000 SW Michigan MLS
• 1993-04-13 Listing Removed — REALCOMP
• 1992-10-13 Listed $18,000 REALCOMP
• 1988-11-03 Listed $13,900 REALCOMP
• 1988-11-03 Listed $13,900 SW Michigan MLS
• 1988-09-06 Listed $13,900 REALCOMP
• 1988-09-06 Listed $13,900 SW Michigan MLS

Property tax history

+1.7%/yr

Latest (2025): $1,235 · +2.7% YoY. Source: county tax records.