9640 S Thornapple Ave · Grant, MI 49337

$85,000

1 bd · 1.0 ba · 600 sqft · SingleFamily · 5 Days on market

1.79 ac lot ↓ 47% since listing

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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 +24.0/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Livability +3.6/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a property with potential? This 1-bedroom, 1-bath home sits on 1.79 acres and is ready for your personal touch. With a little TLC, this could be the perfect country retreat, starter home, or investment opportunity. The property features a large pole barn with a cement floor and built-in oil change pit on one side, plus additional outbuildings offering plenty of storage and workspace. Conveniently located just 8 minutes from the Hess Lake Boat Launch, you'll enjoy easy access to boating, fishing, and outdoor recreation. Bring your vision and make this property your own! Property is being sold 'AS IS'

Key facts

• 1.79 acre lot
• 3 garage spots
• Listed 5 days

Property features AI

Exterior

• Parking: Detached 3-car garage
• Utilities: Well water
• Home design: Single family residence; Residential property
• Construction: Vinyl siding; Metal roof; Built in 9999
• Exterior features: Paved road access; Recreational and tillable lot; Shed(s) on property; Well water

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Space heater
• Interior features: LP tank owned; Total of 4 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($859 rent vs $85k).
• Cap rate 8.6% vs local median 2.7% in Grant — 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 71/100 on livability (#291 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Grant Public School District (rural): math 23% / reading 40% proficiency, ranked #335 of 540 in MI (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 108 active listings in the ZIP; 155 units permitted in Newaygo County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Newaygo County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 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.

Recommended offer $85,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.01% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.36%
• DSCR: 1.37
• GRM: 8.2

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: -3.6%
• Equity multiple: 0.86×
• Total profit: $-3,250
• Equity at exit: $12,674

10-year hold

• IRR: 6.0%
• Equity multiple: 1.45×
• Total profit: $10,630
• Equity at exit: $7,349

Cash invested: $23,800 (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 49337

• Home prices YoY: -16.9%
• Active inventory: 108
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $859 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$32 /mo · $383/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $166

Break-even live

Break-even rent $649

Max offer price $85,000

Occupancy floor 76%

Sensitivity live

Price	-10% $214	-5% $190	+0% $166	+5% $142	+10% $118
Rent	-10% $98	-5% $132	+0% $166	+5% $200	+10% $234
Rate	-1.0pp $209	-0.5pp $187	base $166	+0.5pp $144	+1.0pp $121

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $85,000 Active 5 DOM
2. 2026-06-17
   days on market $85,000 Active 4 DOM
3. 2026-06-16
   days on market $85,000 Active 3 DOM
4. 2026-06-16
   remarks 656-char remark
5. 2026-06-15
   days on market $85,000 Active 2 DOM
6. 2026-06-14
   remarks 618-char remark
7. 2026-06-14
   listed $85,000 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: $383 · $32/mo
• Projected year-2 tax: $846 · $70/mo
• Expected delta: +$463/yr (+$39/mo · 120.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,311
• − Mortgage interest: −$4,761
• − Property taxes: −$383
• − Insurance: −$425
• − Repairs & maintenance: −$825
• − Management: −$825
• − Depreciation: −$2,473
• Taxable income: $619
• Est. tax owed @ 24.0%: −$149
• After-tax cash flow: $1,840/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: Grant Public School District
• NCES district ID: 2616500
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 40% ▼ -3.00%
• Median HH income: $49,262
• Composite: 27.31/100
• National rank: #6996
• State rank: #335 of 540 in MI

Livability — Grant

• Score: 71/100
• State rank: #291
• US rank: #7290

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,030

Population outlook (Newaygo County) Hauer SSP2

• Today (2025): 46,371 people
• By 2030: 44,879 · -3.2%
• By 2040: 41,107 · -11.4%
• By 2050: 36,800 · -20.6%
• By 2075: 27,507 · -40.7%
• By 2100: 18,600 · -59.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 14% Romanian 5% Lithuanian 4%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Newaygo

• 2024 margin: Solid R (+42.8) · D 27.9% · R 70.7% · Other 1.5%
• 2008→2024 swing: -38.2pp toward R · 2008: -4.6pp · 2024: -42.8pp
• All cycles: 2024: R+42.8 2020: R+40.4 2016: R+39.6 2012: R+17.4 2008: R+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.83%
• Current HPI: 310.1533
• 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

-46.8% since first listed

14 events — show timeline

• 2026-06-10 Listed $85,000 SW Michigan MLS
• 2026-06-10 Listed $85,000 MiRealSource-MiMLS
• 2026-01-01 Listing Removed — MiRealSource-MiMLS
• 2025-12-31 Listing Removed — REALCOMP
• 2025-11-20 Relisted — REALCOMP
• 2025-11-19 Listing Removed — REALCOMP
• 2025-10-30 Price Changed $119,000 MiRealSource-MiMLS
• 2025-10-30 Price Changed $119,000 REALCOMP
• 2025-10-30 Price Changed $119,000 SW Michigan MLS
• 2025-10-06 Price Changed $139,900 MiRealSource-MiMLS
• 2025-10-06 Price Changed $139,900 REALCOMP
• 2025-10-06 Price Changed $139,900 SW Michigan MLS
• 2025-09-23 Listed $159,900 REALCOMP
• 2025-09-22 Listed $159,900 MiRealSource-MiMLS

Property tax history

+1.4%/yr

Latest (2025): $383 · +0.7% YoY. Source: county tax records.