15953 152nd Ave · Spring Lake, MI 49456

$214,900

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 3 Days on market

Built 1969 5,141 sqft lot Est $270k · 20% under ↓ 4% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.6/30.0
• Schools +6.4/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming 2-bedroom, 1-bath ranch in the heart of Spring Lake Township! Enjoy a bright, open floor plan with updated flooring, modern fixtures, and plenty of natural light. The kitchen offers ample storage and connects seamlessly to a cozy dining area and private backyard--perfect for relaxing or entertaining. Conveniently located near Spring Lake Village, Lake Michigan beaches, parks, and top-rated schools. Move-in ready and low-maintenance, this home is ideal for year-round living, downsizing, or investment. The home was recently hooked up to municipal sewer a $16,000 expense. Call today for your private showing!

Key facts

• Open floor plan
• Private backyard
• Conveniently located

Tags

• OPEN FLOOR PLAN
• AMPLE STORAGE
• PRIVATE BACKYARD
• CONVENIENTLY LOCATED
• HOOKED UP TO MUNICIPAL SEWER

Property features AI

Exterior

• Utilities: Public water
• Home design: Ranch-style single-family home; Built in 1969; Single-story
• Construction: Vinyl siding construction; Built in 1969
• Exterior features: Vinyl siding; 0.12-acre lot; Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-27 ($-328/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (25.9% below list).
• Recommended offer: $159k (25.9% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 1.7% in Spring Lake — 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 79/100 on livability (#87 in MI, #2,003 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F.
• Spring Lake Public Schools (suburban): math 72% / reading 77% proficiency, ranked #9 of 540 in MI (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: 214 active listings in the ZIP; solid renter incomes; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Ottawa County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,332 (25.9% below list)

Questions for the listing agent

1. 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?
2. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 0.74% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.55%
• DSCR: 0.98
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $269,760
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15175 Pruin St	0.58mi	2/1.0	1,002 (+4%)	3mo	$282,000	$281	64
15242 152nd Ave	0.06mi	3/1.0 (+1)	1,080 (+12%)	10mo	$275,000	$255	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-36,665
• Equity at exit: $32,042

10-year hold

• IRR: -9.3%
• Equity multiple: 0.43×
• Total profit: $-34,571
• Equity at exit: $18,581

Cash invested: $60,172 (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 49456

• Active inventory: 214
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,593 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$70 /mo · $835/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-27

Break-even live

Break-even rent $1,628

Max offer price $210,064

Occupancy floor 97%

Sensitivity live

Price	-10% $94	-5% $33	+0% $-27	+5% $-88	+10% $-149
Rent	-10% $-153	-5% $-90	+0% $-27	+5% $36	+10% $98
Rate	-1.0pp $81	-0.5pp $27	base $-27	+0.5pp $-83	+1.0pp $-140

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-09
   status $214,900 Pending 3 DOM
2. 2026-06-08
   days on market $214,900 Active 3 DOM
3. 2026-06-07
   remarks 642-char remark
4. 2026-06-07
   listed $214,900 Active 2 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: $835 · $70/mo
• Projected year-2 tax: $2,072 · $173/mo
• Expected delta: +$1,237/yr (+$103/mo · 148.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 75% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,120
• − Mortgage interest: −$12,038
• − Property taxes: −$835
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,530
• − Management: −$1,530
• − Depreciation: −$6,252
• Taxable loss: −$4,138
• Est. tax savings @ 24.0%: +$993
• After-tax cash flow: $665/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: Spring Lake Public Schools
• NCES district ID: 2632550
• Math proficiency: 72% ▼ -5.00%
• Reading proficiency: 77% ▼ -3.00%
• Median HH income: $60,951
• Composite: 64.13/100
• National rank: #572
• State rank: #9 of 540 in MI

Livability — Spring Lake

• Score: 79/100
• State rank: #87
• US rank: #2003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ottawa County · 144,142 people
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 19,931
• Household income: $92,672
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 354.0

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 313,561 people
• By 2030: 330,027 · +5.3%
• By 2040: 361,118 · +15.2%
• By 2050: 388,414 · +23.9%
• By 2075: 452,175 · +44.2%
• By 2100: 473,041 · +50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Iranian 17% Romanian 8% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+20.4) · D 39.0% · R 59.5% · Other 1.5%
• 2008→2024 swing: +3.4pp toward D · 2008: -23.9pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+21.5 2016: R+30.4 2012: R+34.2 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -381.34%
• Current HPI: 391.2983
• Rent YoY: —
• 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

-4.4% since first listed

7 events — show timeline

• 2026-06-05 Listed $214,900 REALCOMP
• 2026-06-05 Listed $214,900 MiRealSource-MiMLS
• 2026-06-05 Listed $214,900 SW Michigan MLS
• 2025-12-04 Listing Removed — REALCOMP
• 2025-12-04 Listing Removed — MiRealSource-MiMLS
• 2025-10-23 Listed $224,900 REALCOMP
• 2025-10-22 Listed $224,900 MiRealSource-MiMLS

Property tax history

+3.4%/yr

Latest (2025): $835 · +3.7% YoY. Source: county tax records.