9640 S Thornapple Ave

Grant, MI 49337

$85,000F

None bd · None ba · — sqft · Built — · SingleFamily · Active · 1 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $0/mo
• Mortgage (P&I): −$446
• Tax + insurance: −$67
• HOA: −$0
• Vac / Maint / Mgmt: −$0
• Net cashflow: $-513/mo
• Annual: $-6,157/yr
• Cap rate: -0.95%
• Cash-on-cash: -25.87%
• DSCR: -0.15
• 1% rule: 0.00%
• Cash to close: $23,800

Investor read

• This is a single-family listed at $85k.
• At list price, monthly cash flow is $-513 ($-6k/yr) — negative.
• Rent doesn't cover operating costs at any purchase price — skip.
• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• 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: 109 active listings in the ZIP; 155 units permitted in Newaygo County in 2024 (0 in 5+ unit buildings).
• Newaygo County population projected at -21% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• Cap rate -1.0% vs local median 3.0% in Grant — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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?
• 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.