4556 Riverbend Dr SW · Walker, MI 49534

$269,900

3 bd · 1.0 ba · 1,294 sqft · SingleFamily public records · 8 Days on market

Built 1956 0.50 ac lot Est $285k · 5% under

---

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 +16.2/30.0
• ARV discount +9.8/15.0
• DSCR +5.0/10.0
• Schools +4.8/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wonderful home with updated kitchen and bathroom. Spacious and practical layout with large dining/sitting area. Perfect size at half an acre - space without too much maintenance. Convenient location provides easy access to Lake Michigan Dr and 196. House needs paint and fixtures to really make it shine, but windows and carpet are replaced, expensive rooms are set, and mechanicals have a lot of life left. (Furnace 2017) Check out this rare opportunity for Grandville schools under 300k!Seller has directed listing agent to review offers on Saturday, 4/18, at 5:00 PM.

Key facts

• Replaced windows
• Updated kitchen
• Updated bathroom

Tags

• UPDATED KITCHEN
• UPDATED BATHROOM
• LARGE DINING SITTING AREA
• HALF AN ACRE
• REPLACED WINDOWS
• REPLACED CARPET

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (14.2% below list).
• Recommended offer: $231k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.1% in Walker — 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 74/100 on livability (#188 in MI, #4,765 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, health & safety F.
• Grandville Public Schools (suburban): math 49% / reading 61% proficiency, ranked #70 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Grandville Middle School (math 44% / reading 69%, grade B, #70 of 493 statewide, top 14%, 830 students, 36% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 111 active listings in the ZIP; solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 34% of the median local income ($82k/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 $8k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $231,452 (14.2% below list)

Questions for the listing agent

1. Built in 1956 — 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: 0.86% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.28%
• DSCR: 1.10
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $284,680
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4556 Riverbend Dr SW	0.00mi	3/1.0	1,294 (0%)	0mo	$285,000	$220	100

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 · 7.87% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.70×
• Total profit: $-22,754
• Equity at exit: $40,243

10-year hold

• IRR: 6.7%
• Equity multiple: 1.60×
• Total profit: $45,676
• Equity at exit: $23,336

Cash invested: $75,572 (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 49534

• Home prices YoY: -28.4%
• Rents YoY: 7.9%
• Active inventory: 111
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,315 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$157 /mo · $1,882/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $144

Break-even live

Break-even rent $2,132

Max offer price $269,900

Occupancy floor 89%

Sensitivity live

Price	-10% $297	-5% $220	+0% $144	+5% $67	+10% $-9
Rent	-10% $-39	-5% $52	+0% $144	+5% $235	+10% $327
Rate	-1.0pp $280	-0.5pp $212	base $144	+0.5pp $74	+1.0pp $3

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-13
   listing id $269,900 Pending 8 DOM
2. 2026-04-19
   status Pending 570-char remark

   Show marketing remark (570 chars)

   Wonderful home with updated kitchen and bathroom. Spacious and practical layout with large dining/sitting area. Perfect size at half an acre - space without too much maintenance. Convenient location provides easy access to Lake Michigan Dr and 196. House needs paint and fixtures to really make it shine, but windows and carpet are replaced, expensive rooms are set, and mechanicals have a lot of life left. (Furnace 2017) Check out this rare opportunity for Grandville schools under 300k!Seller has directed listing agent to review offers on Saturday, 4/18, at 5:00 PM.

3. 2026-04-19
   status Pending 570-char remark

   Show marketing remark (570 chars)

   Wonderful home with updated kitchen and bathroom. Spacious and practical layout with large dining/sitting area. Perfect size at half an acre - space without too much maintenance. Convenient location provides easy access to Lake Michigan Dr and 196. House needs paint and fixtures to really make it shine, but windows and carpet are replaced, expensive rooms are set, and mechanicals have a lot of life left. (Furnace 2017) Check out this rare opportunity for Grandville schools under 300k!Seller has directed listing agent to review offers on Saturday, 4/18, at 5:00 PM.

4. 2026-04-19
   status Pending

   Show marketing remark (570 chars)

   Wonderful home with updated kitchen and bathroom. Spacious and practical layout with large dining/sitting area. Perfect size at half an acre - space without too much maintenance. Convenient location provides easy access to Lake Michigan Dr and 196. House needs paint and fixtures to really make it shine, but windows and carpet are replaced, expensive rooms are set, and mechanicals have a lot of life left. (Furnace 2017) Check out this rare opportunity for Grandville schools under 300k!Seller has directed listing agent to review offers on Saturday, 4/18, at 5:00 PM.

5. 2026-04-13
   listed $269,900 Active 570-char remark

   Show marketing remark (570 chars)

   Wonderful home with updated kitchen and bathroom. Spacious and practical layout with large dining/sitting area. Perfect size at half an acre - space without too much maintenance. Convenient location provides easy access to Lake Michigan Dr and 196. House needs paint and fixtures to really make it shine, but windows and carpet are replaced, expensive rooms are set, and mechanicals have a lot of life left. (Furnace 2017) Check out this rare opportunity for Grandville schools under 300k!Seller has directed listing agent to review offers on Saturday, 4/18, at 5:00 PM.

6. 2026-04-13
   listed $269,900 Active

   Show marketing remark (570 chars)

   Wonderful home with updated kitchen and bathroom. Spacious and practical layout with large dining/sitting area. Perfect size at half an acre - space without too much maintenance. Convenient location provides easy access to Lake Michigan Dr and 196. House needs paint and fixtures to really make it shine, but windows and carpet are replaced, expensive rooms are set, and mechanicals have a lot of life left. (Furnace 2017) Check out this rare opportunity for Grandville schools under 300k!Seller has directed listing agent to review offers on Saturday, 4/18, at 5:00 PM.

7. 2026-04-13
   listed $269,900 Active 570-char remark

   Show marketing remark (570 chars)

   Wonderful home with updated kitchen and bathroom. Spacious and practical layout with large dining/sitting area. Perfect size at half an acre - space without too much maintenance. Convenient location provides easy access to Lake Michigan Dr and 196. House needs paint and fixtures to really make it shine, but windows and carpet are replaced, expensive rooms are set, and mechanicals have a lot of life left. (Furnace 2017) Check out this rare opportunity for Grandville schools under 300k!Seller has directed listing agent to review offers on Saturday, 4/18, at 5:00 PM.

ⓘ 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: $1,882 · $157/mo
• Projected year-2 tax: $3,019 · $252/mo
• Expected delta: +$1,137/yr (+$95/mo · 60.4%)

ⓘ 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 3/10 Moderate
• 🌡 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,774
• − Mortgage interest: −$15,119
• − Property taxes: −$1,882
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,222
• − Management: −$2,222
• − Depreciation: −$7,852
• Taxable loss: −$2,871
• Est. tax savings @ 24.0%: +$689
• After-tax cash flow: $2,415/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: Grandville Public Schools
• NCES district ID: 2616470
• Math proficiency: 49% ▼ -5.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,935
• Composite: 47.74/100
• National rank: #2234
• State rank: #70 of 540 in MI

Livability — Walker

• Score: 74/100
• State rank: #188
• US rank: #4765

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walker, MI
• County: Kent County · 533,805 people
• City population: 33,350
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 23,719
• Household income: $81,657
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 415.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Iranian 20% Romanian 12% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Tagalog/Filipino 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: ▼ -107.59%
• Current HPI: 270.866
• Rent YoY: ▲ 7.87%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-19 Pending — REALCOMP
• 2026-04-19 Pending — MiRealSource-MiMLS
• 2026-04-19 Pending — SW Michigan MLS
• 2026-04-13 Listed $269,900 SW Michigan MLS
• 2026-04-13 Listed $269,900 MiRealSource-MiMLS
• 2026-04-13 Listed $269,900 REALCOMP

Property tax history

+2.4%/yr

Latest (2025): $1,882 · -8.0% YoY. Source: county tax records.