1929 Osmer Ave SW · Wyoming, MI 49509

$199,900

3 bd · 1.5 ba · 1,164 sqft · SingleFamily public records · 4 Days on market

Built 1953 4,879 sqft lot $172/sqft · 19% below area Est $247k · 19% under

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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 +10.2/30.0
• Livability +3.9/5.0
• DSCR +2.9/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of Wyoming, this 4-bedroom, 1.5-bath home offers over 1,100 square feet of living space with a functional layout and a lot of potential. Built in 1953, the home sits on a manageable lot and features a traditional floor plan with a main living area, kitchen, and bedrooms that can be reimagined to fit modern preferences. The property will require updates and some work throughout, but it provides a great opportunity to bring new life into the space and make it your own. Whether it's cosmetic improvements or larger updates over time, there's room here to create something special. Conveniently located near schools, shopping, parks, and major roadways, the home offers easy access to everything the Wyoming and greater Grand Rapids area has to offer. Being sold as-is.

Key facts

• Easy access
• Manageable lot
• Functional layout

Tags

• FUNCTIONAL LAYOUT
• MANAGEABLE LOT
• EASY ACCESS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Natural gas available and connected
• Home design: Traditional single-family residence; Built in 1953
• Construction: Wood siding construction
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Bedroom 2; Bedroom 3
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Gravity heating; Wall unit cooling
• Interior features: Eat-in kitchen; Nine total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (24.3% below list).
• Recommended offer: $151k (24.3% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 3.8% in Wyoming — 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 77/100 on livability (#126 in MI, #3,095 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D-, amenities F.
• Godfrey-Lee Public Schools (urban): math 9% / reading 27% proficiency, ranked #482 of 540 in MI (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 88 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 34y ago 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.
• Current owner paid $55k; list at $200k implies a 264% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $151,388 (24.3% 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 1953 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.76% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.47%
• DSCR: 0.89
• GRM: 11.0

CMA / ARV

• ARV (median comp): $247,315
• List price: $199,900
• Delta: -19.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2034 Roos Ave SW	0.17mi	3/1.0	1,156 (-1%)	1mo	$283,000	$245	88
1917 Osmer Ave SW	0.02mi	4/1.5 (+1)	1,144 (-2%)	6mo	$182,000	$159	86
1674 Cleveland Ave SW	0.54mi	3/2.0	1,166 (+0%)	1mo	$260,000	$223	72
2023 Michael Ave SW	0.37mi	3/1.0	1,100 (-6%)	2mo	$240,000	$218	70
1945 Galewood Ave SW	0.11mi	3/1.5	1,337 (+15%)	2mo	$265,000	$198	69
2146 Michael Ave SW	0.44mi	4/2.0 (+1)	1,140 (-2%)	2mo	$255,000	$224	67
1061 Rathbone St SW	0.58mi	4/1.0 (+1)	1,171 (+1%)	6mo	$215,000	$184	60
1665 Martindale Ave SW	0.62mi	3/1.5	1,246 (+7%)	4mo	$285,000	$229	56
1650 Wendler Ave SW	0.53mi	3/1.5	1,296 (+11%)	1mo	$250,000	$193	56
1624 Martindale Ave SW	0.64mi	3/1.5	1,014 (-13%)	4mo	$166,000	$164	45
2143 De Hoop Ave SW	0.50mi	4/1.0 (+1)	1,008 (-13%)	7mo	$264,900	$263	42
1841 Federal Ave SW	0.74mi	3/2.5	1,304 (+12%)	3mo	$260,000	$199	39

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: -20.4%
• Equity multiple: 0.29×
• Total profit: $-39,741
• Equity at exit: $29,806

10-year hold

• IRR: -13.6%
• Equity multiple: 0.21×
• Total profit: $-44,124
• Equity at exit: $17,284

Cash invested: $55,972 (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 49509

• Active inventory: 88
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,514 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$179 /mo · $2,153/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-115

Break-even live

Break-even rent $1,660

Max offer price $179,575

Occupancy floor —

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2134 McKee Ave SW Unit 2 Grand Rapids, MI	2.0	1.0	780	$1,195	$1.53	43d	1	0.36mi
2340 Michael Ave SW Unit 2280 4 Wyoming, MI	2.0	1.0	900	$1,200	$1.33	19d	1	0.58mi
2515 McKee Ave SW Unit 4 Wyoming, MI	2.0	1.0	900	$1,300	$1.44	14d	1	0.76mi
242 Elm St SW Grand Rapids, MI	2.0	1.5	1100	$3,200	$2.91	2d	1	0.79mi
2633 Woodward Ave SW Apt B Wyoming, MI	2.0	1.0	950	$1,295	$1.36	43d	1	0.94mi
2680 Woodward Ave SW Apt 7 Wyoming, MI	2.0	1.0	900	$1,100	$1.22	23d	1	1.00mi
2680 Woodward Ave SW Apt 10 Wyoming, MI	2.0	1.0	900	$1,250	$1.39	23d	1	1.00mi
2680 Woodward Ave SW Apt 6 Wyoming, MI	2.0	1.0	900	$1,200	$1.33	23d	1	1.00mi
2727 Madelyn Dr SW Unit A Wyoming, MI	2.0	1.0	700	$1,225	$1.75	23d	1	1.07mi
1019 Norwich Ave SW Grand Rapids, MI	3.0	1.0	1214	$1,595	$1.31	3d	1	1.08mi
2040 Division Ave S Unit 207 Grand Rapids, MI	2.0	1.0	768	$1,703	$2.22	2d	1	1.17mi
19 La Belle St SE Grand Rapids, MI	2.0	1.0	846	$1,045	$1.24	43d	1	1.34mi
1401 Prairie Pkwy SW Wyoming, MI	3.0	1.0–2.0	790	$2,250	$2.85	19d	1	1.37mi
1401 Prairie Pkwy SW Wyoming, MI	2.0	1.0	845	$1,495	$1.77	2d	1	1.37mi
2931 Burlingame Ave SW Wyoming, MI	1.0–2.0	1.0	800	$1,380	$1.73	2d	1	1.46mi

Listing history 10 events

1. 2026-05-10
   status Pending 791-char remark

   Show marketing remark (791 chars)

   Located in the heart of Wyoming, this 4-bedroom, 1.5-bath home offers over 1,100 square feet of living space with a functional layout and a lot of potential. Built in 1953, the home sits on a manageable lot and features a traditional floor plan with a main living area, kitchen, and bedrooms that can be reimagined to fit modern preferences. The property will require updates and some work throughout, but it provides a great opportunity to bring new life into the space and make it your own. Whether it's cosmetic improvements or larger updates over time, there's room here to create something special. Conveniently located near schools, shopping, parks, and major roadways, the home offers easy access to everything the Wyoming and greater Grand Rapids area has to offer. Being sold as-is.

2. 2026-05-10
   status Pending 791-char remark

   Show marketing remark (791 chars)

   Located in the heart of Wyoming, this 4-bedroom, 1.5-bath home offers over 1,100 square feet of living space with a functional layout and a lot of potential. Built in 1953, the home sits on a manageable lot and features a traditional floor plan with a main living area, kitchen, and bedrooms that can be reimagined to fit modern preferences. The property will require updates and some work throughout, but it provides a great opportunity to bring new life into the space and make it your own. Whether it's cosmetic improvements or larger updates over time, there's room here to create something special. Conveniently located near schools, shopping, parks, and major roadways, the home offers easy access to everything the Wyoming and greater Grand Rapids area has to offer. Being sold as-is.

3. 2026-05-10
   status Pending

   Show marketing remark (791 chars)

   Located in the heart of Wyoming, this 4-bedroom, 1.5-bath home offers over 1,100 square feet of living space with a functional layout and a lot of potential. Built in 1953, the home sits on a manageable lot and features a traditional floor plan with a main living area, kitchen, and bedrooms that can be reimagined to fit modern preferences. The property will require updates and some work throughout, but it provides a great opportunity to bring new life into the space and make it your own. Whether it's cosmetic improvements or larger updates over time, there's room here to create something special. Conveniently located near schools, shopping, parks, and major roadways, the home offers easy access to everything the Wyoming and greater Grand Rapids area has to offer. Being sold as-is.

4. 2026-04-13
   listed $199,900 Active 791-char remark

   Show marketing remark (791 chars)

   Located in the heart of Wyoming, this 4-bedroom, 1.5-bath home offers over 1,100 square feet of living space with a functional layout and a lot of potential. Built in 1953, the home sits on a manageable lot and features a traditional floor plan with a main living area, kitchen, and bedrooms that can be reimagined to fit modern preferences. The property will require updates and some work throughout, but it provides a great opportunity to bring new life into the space and make it your own. Whether it's cosmetic improvements or larger updates over time, there's room here to create something special. Conveniently located near schools, shopping, parks, and major roadways, the home offers easy access to everything the Wyoming and greater Grand Rapids area has to offer. Being sold as-is.

5. 2026-04-13
   listed $199,900 Active 791-char remark

   Show marketing remark (791 chars)

   Located in the heart of Wyoming, this 4-bedroom, 1.5-bath home offers over 1,100 square feet of living space with a functional layout and a lot of potential. Built in 1953, the home sits on a manageable lot and features a traditional floor plan with a main living area, kitchen, and bedrooms that can be reimagined to fit modern preferences. The property will require updates and some work throughout, but it provides a great opportunity to bring new life into the space and make it your own. Whether it's cosmetic improvements or larger updates over time, there's room here to create something special. Conveniently located near schools, shopping, parks, and major roadways, the home offers easy access to everything the Wyoming and greater Grand Rapids area has to offer. Being sold as-is.

6. 2026-04-13
   listed $199,900 Active

   Show marketing remark (791 chars)

   Located in the heart of Wyoming, this 4-bedroom, 1.5-bath home offers over 1,100 square feet of living space with a functional layout and a lot of potential. Built in 1953, the home sits on a manageable lot and features a traditional floor plan with a main living area, kitchen, and bedrooms that can be reimagined to fit modern preferences. The property will require updates and some work throughout, but it provides a great opportunity to bring new life into the space and make it your own. Whether it's cosmetic improvements or larger updates over time, there's room here to create something special. Conveniently located near schools, shopping, parks, and major roadways, the home offers easy access to everything the Wyoming and greater Grand Rapids area has to offer. Being sold as-is.

7. 1993-05-25
   soldstatus $54,900
8. 1993-05-25
   soldstatus $54,900
9. 1992-09-14
   listed $54,900
10. 1992-09-14
    listed $54,900

ⓘ 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: $2,153 · $179/mo
• Projected year-2 tax: $2,616 · $218/mo
• Expected delta: +$463/yr (+$39/mo · 21.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,167
• − Mortgage interest: −$11,198
• − Property taxes: −$2,153
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,453
• − Management: −$1,453
• − Depreciation: −$5,815
• Taxable loss: −$4,906
• Est. tax savings @ 24.0%: +$1,177
• After-tax cash flow: $-203/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: Godfrey-Lee Public Schools
• NCES district ID: 2616080
• Math proficiency: 9% ▼ -1.00%
• Reading proficiency: 27% ▲ 5.00%
• Median HH income: $39,436
• Composite: 15.17/100
• National rank: #9345
• State rank: #482 of 540 in MI

Livability — Wyoming

• Score: 77/100
• State rank: #126
• US rank: #3095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wyoming, MI
• County: Kent County · 533,805 people
• City population: 56,117
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 28,152
• Household income: $65,132
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 681.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Hispanic / Latino 34% Two or more races 20% Black 10% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Cuban 2% Dominican 2%
• Common ancestry: Iranian 12% Romanian 6% Lithuanian 2%
• Foreign-born: 17% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 26% Vietnamese 1%

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: ▼ -255.45%
• Current HPI: 345.1978
• 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

+264.1% since first listed

10 events — show timeline

• 2026-05-10 Pending — REALCOMP
• 2026-05-10 Pending — MiRealSource-MiMLS
• 2026-05-10 Pending — SW Michigan MLS
• 2026-04-13 Listed $199,900 SW Michigan MLS
• 2026-04-13 Listed $199,900 MiRealSource-MiMLS
• 2026-04-13 Listed $199,900 REALCOMP
• 1993-05-25 Sold (MLS) $54,900 REALCOMP
• 1993-05-25 Sold (MLS) $54,900 SW Michigan MLS
• 1992-09-14 Listed $54,900 REALCOMP
• 1992-09-14 Listed $54,900 SW Michigan MLS

Property tax history

+3.8%/yr

Latest (2025): $2,153 · +2.6% YoY. Source: county tax records.