6010 Cannonsburg Rd NE · Cannon, MI 49306

$139,000

1 bd · 1.0 ba · 781 sqft · SingleFamily public records · 9 Days on market

Built 1935 0.64 ac lot

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Why this score? — see what drove the C+ 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 +25.3/30.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +5.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your tools and your imagination! Located just outside Grand Rapids near the LMCU ballpark, this 2 bed 1 bath home and 2 car detached garage is ready for your vision! Peaceful setting that would be great as a primary or part time residence! Due to condition this will require cash or a rehab loan.

Key facts

• 0.64 acre lot
• 2 garage spots
• Built 1935

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Well water
• Home design: Single-family residence; Residential property; Built in 1935
• Construction: Other construction materials; Shingle roof
• Exterior features: Paved road access; Lot of 0.64 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating
• Interior features: 6 total rooms; Slab basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Rockford Public Schools (suburban): math 59% / reading 64% proficiency, ranked #28 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 65 active listings in the ZIP; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 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.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,000

Questions for the listing agent

1. Built in 1935 — 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. 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.
4. 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.
5. 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: 1.12% ✓
• Cap rate: 9.00%
• Cash-on-cash: 9.68%
• DSCR: 1.43
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -1.7%
• Equity multiple: 0.93×
• Total profit: $-2,537
• Equity at exit: $20,725

10-year hold

• IRR: 8.0%
• Equity multiple: 1.60×
• Total profit: $23,522
• Equity at exit: $12,018

Cash invested: $38,920 (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 49306

• Active inventory: 65
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,560 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$132 /mo · $1,582/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$328
• Net cashflow: $314

Break-even live

Break-even rent $1,163

Max offer price $139,000

Occupancy floor 75%

Sensitivity live

Price	-10% $393	-5% $353	+0% $314	+5% $275	+10% $235
Rent	-10% $191	-5% $252	+0% $314	+5% $375	+10% $437
Rate	-1.0pp $384	-0.5pp $349	base $314	+0.5pp $278	+1.0pp $241

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   remarks 366-char remark
2. 2026-06-18
   price $139,000 Active 9 DOM
3. 2026-06-18
   days on market $159,000 Active 9 DOM
4. 2026-06-17
   days on market $159,000 Active 8 DOM
5. 2026-06-16
   days on market $159,000 Active 7 DOM
6. 2026-06-15
   days on market $159,000 Active 6 DOM
7. 2026-06-14
   days on market $159,000 Active 4 DOM
8. 2026-06-13
   days on market $159,000 Active 3 DOM
9. 2026-06-10
   remarks 302-char remark
10. 2026-06-10
    listed $159,000 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: $1,582 · $132/mo
• Projected year-2 tax: $1,861 · $155/mo
• Expected delta: +$279/yr (+$23/mo · 17.7%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,722
• − Mortgage interest: −$7,786
• − Property taxes: −$1,582
• − Insurance: −$695
• − Repairs & maintenance: −$1,498
• − Management: −$1,498
• − Depreciation: −$4,044
• Taxable income: $1,620
• Est. tax owed @ 24.0%: −$389
• After-tax cash flow: $3,377/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: Rockford Public Schools
• NCES district ID: 2630030
• Math proficiency: 59% ▼ -5.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $79,800
• Composite: 55.16/100
• National rank: #1276
• State rank: #28 of 540 in MI

Livability — Cannon

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

Census & demographics

• Population (ZIP): 10,806

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: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Iranian 12% Romanian 12% Lithuanian 5%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -146.39%
• Current HPI: 246.3054
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-09 Listed $159,000 REALCOMP
• 2026-06-09 Listed $159,000 SW Michigan MLS

Property tax history

+6.5%/yr

Latest (2025): $1,582 · +2.7% YoY. Source: county tax records.