4359 W Grand Blvd NW

Walker, MI 49534

$325,000D-

4 bd · 2.5 ba · 1,079 sqft · Built 1990 · SingleFamily · Pending · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,455/mo
• Mortgage (P&I): −$1,704
• Tax + insurance: −$444
• HOA: −$0
• Vac / Maint / Mgmt: −$515
• Net cashflow: $-209/mo
• Annual: $-2,510/yr
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• 1% rule: 0.76%
• Cash to close: $91,000

Investor read

• This is a 4-bed/2.5-bath single-family listed at $325k.
• At list price, monthly cash flow is $-209 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $288k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (24.5% below list).
• It's been on market 35 days — a 3% lower offer ($315k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $245k (24.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• 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.
• Grandville Public Schools (suburban): math 49% / reading 61% proficiency, ranked #70 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Grandville Middle School (math 44% / reading 69%, grade B, #70 of 493 statewide, top 14%, 830 students, 36% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 111 active listings in the ZIP; solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 22 sale attempts since 36y ago; this cycle's ask has dropped $25k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $250k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% 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.
• This rent runs 36% of the median local income ($82k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 35 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.