2508 Greenings Ave NE · Grand Rapids, MI 49525

$349,900

3 bd · 1.0 ba · 1,592 sqft · SingleFamily · 2 Days on market

Built 1976 0.29 ac lot Est $355k · at est.

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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).

• Cash flow +11.3/30.0
• ARV discount +8.1/15.0
• Schools +6.3/10.0
• Livability +4.2/5.0
• DSCR +3.3/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready and packed with value--this 3 bed/1 bath ranch in the heart of Northeast Grand Rapids and Forest Hills Schools is the one buyers have been waiting for. Offering over 1,500 finished sq ft including a finished lower level, this home blends classic charm with thoughtful modern updates throughout. Outside, the showstopper is the massive 600+ sq ft Trex deck overlooking the spacious and private backyard--perfect for entertaining, relaxing, and enjoying Michigan summer nights. Inside, the bright kitchen features painted cabinetry, newer appliances, updated fixtures, and flows seamlessly into the dining and living areas. With two fireplaces, you'll enjoy cozy living spaces on both levels of the home. Custom closet systems, updated lighting, and a newer garage door add to the home's fresh, clean feel. The finished lower level offers approximately 500 additional finished sq ft plus plumbing already in place for a future second bathroom--providing room to grow and. .. add equity. Conveniently located near shopping, restaurants, parks, and expressways. Orchard View Elementary school is a short walk or bike ride just around the corner. Situated on a quiet cul-de-sac, this home offers added privacy with minimal through traffic. Located in a well-established neighborhood where homes rarely come on the market, you'll appreciate the mature trees, pride of ownership, and strong neighborhood feel that make this area so special. Schedule your private showing today.

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 1976

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; High-speed internet; Natural gas water heater
• Home design: Ranch-style single family home; Built in 1976
• Construction: Brick, vinyl siding and wood siding exterior; Shingle roof
• Exterior features: Cul-de-sac lot; Shed(s); Paved road

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Disposal
• Bedrooms: Primary bedroom; Two additional bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Garage door opener; Pantry; Fireplace; Full basement; Seven total rooms
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-126 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $328k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (26.6% below list).
• Recommended offer: $257k (26.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.5% in Grand Rapids — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 83/100 on livability (#44 in MI, #939 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-, crime F.
• Forest Hills Public Schools (suburban): math 65% / reading 74% proficiency, ranked #11 of 540 in MI (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.2%/yr); 164 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 33% of the median local income ($94k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 7y 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 $216k; list at $350k implies a 62% gain — meaningful room to come down on a strong offer.

Recommended offer $256,881 (26.6% 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 1976 — 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. Crime grade is F 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?
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: 0.73% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.54%
• DSCR: 0.93
• GRM: 11.4

CMA / ARV

• ARV (on-the-fly): $355,016
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2533 Greenings Ave NE	0.05mi	3/1.0	1,607 (+1%)	16mo	$315,000	$196	82
2668 Johnathan Ave NE	0.21mi	4/1.5 (+1)	1,683 (+6%)	1mo	$375,000	$223	73
2820 Johnathan Ct NE	0.26mi	3/1.0	1,679 (+6%)	20mo	$330,000	$197	62
2500 Appleton Dr NE	0.09mi	3/2.0	1,415 (-11%)	22mo	$340,000	$240	54
2491 Dunnigan Ave NE	0.49mi	3/1.5	1,466 (-8%)	14mo	$377,500	$258	50
2617 Florlen Ave NE	0.34mi	2/2.5 (-1)	1,764 (+11%)	7mo	$370,000	$210	49
3136 3 Mile Rd NE	0.38mi	3/1.5	1,446 (-9%)	21mo	$382,500	$265	47
2698 Dunnigan Ave NE	0.66mi	4/2.0 (+1)	1,478 (-7%)	11mo	$357,000	$242	39
2821 Montreat Dr NE	0.49mi	4/2.0 (+1)	1,822 (+14%)	22mo	$320,000	$176	26

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 · 2.21% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.32×
• Total profit: $-66,871
• Equity at exit: $52,171

10-year hold

• IRR: -14.1%
• Equity multiple: 0.21×
• Total profit: $-77,243
• Equity at exit: $30,253

Cash invested: $97,972 (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 49525

• Rents YoY: 2.2%
• Active inventory: 164
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $2,569 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$175 /mo · $2,096/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$539
• Net cashflow: $-126

Break-even live

Break-even rent $2,728

Max offer price $327,646

Occupancy floor 100%

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 Knapp St NE Grand Rapids, MI	1.0–2.0	1.0–2.0	903	$2,185	$2.42	2d	16	0.64mi
3300 E Beltline Ave NE Grand Rapids, MI	2.0–3.0	2.5	1446	$2,945	$2.04	2d	3	1.20mi
3240 Killian St Grand Rapids Twp, MI	1.0–3.0	1.0–2.0	1143	$3,090	$2.70	43d	17	1.39mi
3240 Killian St Grand Rapids Twp, MI	1.0–3.0	1.0–2.0	1145	$3,055	$2.67	2d	13	1.39mi

Listing history 12 events

1. 2026-05-22
   listed $349,900 Active 1484-char remark

   Show marketing remark (986 chars)

   Move-in ready and packed with value--this 3 bed/1 bath ranch in the heart of Northeast Grand Rapids and Forest Hills Schools is the one buyers have been waiting for. Offering over 1,500 finished sq ft including a finished lower level, this home blends classic charm with thoughtful modern updates throughout. Outside, the showstopper is the massive 600+ sq ft Trex deck overlooking the spacious and private backyard--perfect for entertaining, relaxing, and enjoying Michigan summer nights. Inside, the bright kitchen features painted cabinetry, newer appliances, updated fixtures, and flows seamlessly into the dining and living areas. With two fireplaces, you'll enjoy cozy living spaces on both levels of the home. Custom closet systems, updated lighting, and a newer garage door add to the home's fresh, clean feel. The finished lower level offers approximately 500 additional finished sq ft plus plumbing already in place for a future second bathroom--providing room to grow and. ..

2. 2026-05-22
   listed $349,900 Active

   Show marketing remark (986 chars)

   Move-in ready and packed with value--this 3 bed/1 bath ranch in the heart of Northeast Grand Rapids and Forest Hills Schools is the one buyers have been waiting for. Offering over 1,500 finished sq ft including a finished lower level, this home blends classic charm with thoughtful modern updates throughout. Outside, the showstopper is the massive 600+ sq ft Trex deck overlooking the spacious and private backyard--perfect for entertaining, relaxing, and enjoying Michigan summer nights. Inside, the bright kitchen features painted cabinetry, newer appliances, updated fixtures, and flows seamlessly into the dining and living areas. With two fireplaces, you'll enjoy cozy living spaces on both levels of the home. Custom closet systems, updated lighting, and a newer garage door add to the home's fresh, clean feel. The finished lower level offers approximately 500 additional finished sq ft plus plumbing already in place for a future second bathroom--providing room to grow and. ..

3. 2026-05-22
   listed $349,900 Active 986-char remark

   Show marketing remark (986 chars)

   Move-in ready and packed with value--this 3 bed/1 bath ranch in the heart of Northeast Grand Rapids and Forest Hills Schools is the one buyers have been waiting for. Offering over 1,500 finished sq ft including a finished lower level, this home blends classic charm with thoughtful modern updates throughout. Outside, the showstopper is the massive 600+ sq ft Trex deck overlooking the spacious and private backyard--perfect for entertaining, relaxing, and enjoying Michigan summer nights. Inside, the bright kitchen features painted cabinetry, newer appliances, updated fixtures, and flows seamlessly into the dining and living areas. With two fireplaces, you'll enjoy cozy living spaces on both levels of the home. Custom closet systems, updated lighting, and a newer garage door add to the home's fresh, clean feel. The finished lower level offers approximately 500 additional finished sq ft plus plumbing already in place for a future second bathroom--providing room to grow and. ..

4. 2026-05-19
   historical $349,900 986-char remark

   Show marketing remark (986 chars)

   Move-in ready and packed with value--this 3 bed/1 bath ranch in the heart of Northeast Grand Rapids and Forest Hills Schools is the one buyers have been waiting for. Offering over 1,500 finished sq ft including a finished lower level, this home blends classic charm with thoughtful modern updates throughout. Outside, the showstopper is the massive 600+ sq ft Trex deck overlooking the spacious and private backyard--perfect for entertaining, relaxing, and enjoying Michigan summer nights. Inside, the bright kitchen features painted cabinetry, newer appliances, updated fixtures, and flows seamlessly into the dining and living areas. With two fireplaces, you'll enjoy cozy living spaces on both levels of the home. Custom closet systems, updated lighting, and a newer garage door add to the home's fresh, clean feel. The finished lower level offers approximately 500 additional finished sq ft plus plumbing already in place for a future second bathroom--providing room to grow and. ..

5. 2026-05-19
   historical $349,900

   Show marketing remark (986 chars)

   Move-in ready and packed with value--this 3 bed/1 bath ranch in the heart of Northeast Grand Rapids and Forest Hills Schools is the one buyers have been waiting for. Offering over 1,500 finished sq ft including a finished lower level, this home blends classic charm with thoughtful modern updates throughout. Outside, the showstopper is the massive 600+ sq ft Trex deck overlooking the spacious and private backyard--perfect for entertaining, relaxing, and enjoying Michigan summer nights. Inside, the bright kitchen features painted cabinetry, newer appliances, updated fixtures, and flows seamlessly into the dining and living areas. With two fireplaces, you'll enjoy cozy living spaces on both levels of the home. Custom closet systems, updated lighting, and a newer garage door add to the home's fresh, clean feel. The finished lower level offers approximately 500 additional finished sq ft plus plumbing already in place for a future second bathroom--providing room to grow and. ..

6. 2020-01-16
   soldstatus $215,600
7. 2019-07-19
   soldstatus $215,600
8. 2019-07-19
   soldstatus $215,600 Sold
9. 2019-06-10
   status Pending
10. 2019-06-07
    listed $199,900
11. 2019-06-07
    listed $199,900 Active
12. 2019-06-07
    listed $199,900

ⓘ 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: $2,096 · $175/mo
• Projected year-2 tax: $3,742 · $312/mo
• Expected delta: +$1,646/yr (+$137/mo · 78.6%)

ⓘ 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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,826
• − Mortgage interest: −$19,600
• − Property taxes: −$2,096
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,466
• − Management: −$2,466
• − Depreciation: −$10,179
• Taxable loss: −$7,730
• Est. tax savings @ 24.0%: +$1,855
• After-tax cash flow: $344/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: Forest Hills Public Schools
• NCES district ID: 2614610
• Math proficiency: 65% ▼ -3.00%
• Reading proficiency: 74% ▲ 1.00%
• Median HH income: $95,067
• Composite: 63.23/100
• National rank: #632
• State rank: #11 of 540 in MI

Livability — Grand Rapids

• Score: 83/100
• State rank: #44
• US rank: #939

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 533,805 people
• City population: 181,325
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 30,887
• Household income: $94,037
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 396.0

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: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 3% Asian 2%
• Common ancestry: Iranian 16% Romanian 8% Lithuanian 2%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 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: ▼ -195.79%
• Current HPI: 256.0731
• Rent YoY: ▲ 2.21%
• 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

+75.0% since first listed

12 events — show timeline

• 2026-05-22 Listed $349,900 REALCOMP
• 2026-05-22 Listed $349,900 SW Michigan MLS
• 2026-05-22 Listed $349,900 MiRealSource-MiMLS
• 2026-05-19 Coming Soon $349,900 MiRealSource-MiMLS
• 2026-05-19 Coming Soon $349,900 SW Michigan MLS
• 2020-01-16 Sold (Public Records) $215,600 Public Records
• 2019-07-19 Sold (MLS) $215,600 SW Michigan MLS
• 2019-07-19 Sold (MLS) $215,600 REALCOMP
• 2019-06-10 Pending — SW Michigan MLS
• 2019-06-07 Listed $199,900 MiRealSource-MiMLS
• 2019-06-07 Listed $199,900 SW Michigan MLS
• 2019-06-07 Listed $199,900 REALCOMP

Property tax history

+1.3%/yr

Latest (2025): $2,096 · -26.2% YoY. Source: county tax records.