875 Martin Luther King Junior St SE · Grand Rapids, MI 49507

$299,900

3 bd · 1.5 ba · 1,456 sqft · SingleFamily public records · 14 Days on market

Built 2003 6,752 sqft lot $206/sqft · 37% below area

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Why this score? — see what drove the F 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 +8.8/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Schools +1.9/10.0
• 1% rule +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your next find 4 Bedroom, 2 bath in Grand Rapids. Step in from the covered front porch and you enter the open living area, offering large windows that let the sunshine in. Spacious living room area leads you to the dining room, then into the kitchen. Upstairs you will find 3 bedrooms with large closets and a full bathroom. The basement includes 1 additional bedroom and thick carpeting throughout with multiple bonus rooms and storage area. Outside you will find a large yard with three car parking off the street and a large deck in the back with custom lighting.

Key facts

• Covered front porch
• Large windows
• Kitchen

Tags

• COVERED FRONT PORCH
• OPEN LIVING AREA
• LARGE WINDOWS
• SPACIOUS LIVING ROOM
• DINING ROOM
• KITCHEN

Property features AI

Exterior

• Utilities: Public water; Natural gas water heater
• Home design: Traditional style single-family home; Built in 2003; 2,390 sq ft living area
• Construction: Vinyl siding; Shingle roof; Built in 2003
• Exterior features: Sidewalk; Paved road

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Hot water heating; Has cooling
• Interior features: Pantry; Insulated windows; Full basement; 6 total rooms
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-246 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $257k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (33.0% below list).
• Recommended offer: $201k (33.0% below list) — sets the bar for 1% rule.

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.
• Grand Rapids Public Schools (urban): math 15% / reading 29% proficiency, ranked #451 of 540 in MI (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.7%/yr); 178 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 39% of the median local income ($61k/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 $9k 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 10y 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 $82k; list at $300k implies a 268% gain — meaningful room to come down on a strong offer.

Recommended offer $201,014 (33.0% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.67% ✗
• Cap rate: 5.31%
• Cash-on-cash: -3.51%
• DSCR: 0.84
• GRM: 12.4

CMA / ARV

• ARV (median comp): $781,247
• List price: $299,900
• Delta: -61.61%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.74% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.28×
• Total profit: $-60,778
• Equity at exit: $44,716

10-year hold

• IRR: -10.8%
• Equity multiple: 0.31×
• Total profit: $-58,320
• Equity at exit: $25,930

Cash invested: $83,972 (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 49507

• Rents YoY: 4.7%
• Active inventory: 178
• Price-to-rent: 12.4×

Monthly cashflow live

• Estimated rent: $2,010 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$136 /mo · $1,632/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-246

Break-even live

Break-even rent $2,321

Max offer price $256,507

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
729 Bates St SE Unit 1 Grand Rapids, MI	4.0	3.5	1576	$2,395	$1.52	43d	1	0.23mi
1114 Dunham St SE Unit 1 Grand Rapids, MI	2.0	1.0	894	$1,300	$1.45	43d	1	0.27mi
550 Union Ave SE Grand Rapids, MI	3.0	1.5	1743	$2,800	$1.61	43d	1	0.47mi
1027 Underwood Ave SE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	14d	1	0.52mi
638 Wealthy St SE Unit A Grand Rapids, MI	2.0	2.0	1000	$2,100	$2.10	43d	1	0.56mi
434 Worden St SE Unit 2 Grand Rapids, MI	2.0	1.0	900	$1,495	$1.66	43d	1	0.60mi
414 Paris Ave SE Grand Rapids, MI	3.0	1.5	1700	$2,850	$1.68	43d	1	0.63mi
258 Orchard Hill St SE Grand Rapids, MI	3.0	1.0	1300	$1,900	$1.46	43d	1	0.66mi
1333 Wealthy St SE Unit 2 Grand Rapids, MI	2.0	1.0	1113	$1,900	$1.71	43d	1	0.70mi
1400 Wealthy St SE Grand Rapids, MI	2.0	1.0	907	$1,925	$2.12	3d	1	0.73mi
840 Lafayette Ave SE Unit 2 Grand Rapids, MI	3.0	1.0	950	$1,600	$1.68	43d	1	0.78mi
325 Norwood Ave SE Grand Rapids, MI	3.0	1.5	1398	$2,700	$1.93	23d	1	0.92mi
11 Fuller Ave SE Apt 204 Grand Rapids, MI	2.0	1.5	880	$1,850	$2.10	43d	1	0.96mi
216 Lafayette Ave SE Grand Rapids, MI	2.0	1.5	1000	$1,395	$1.40	43d	1	1.00mi
345 State St SE Grand Rapids, MI	2.0	2.0	1107	$1,280	$1.16	43d	2	1.04mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	43d	1	1.07mi
1555 Margaret Ave SE Grand Rapids, MI	2.0	1.0	900	$1,500	$1.67	14d	1	1.19mi
17 Lafayette Ave SE Grand Rapids, MI	2.0	1.0–2.0	720	$2,125	$2.95	43d	7	1.24mi
1057 Griggs St SE Grand Rapids, MI	2.0	1.0	1100	$1,550	$1.41	43d	1	1.26mi
350 Ionia Ave SW Grand Rapids, MI	2.0–3.0	2.0–3.0	1400	$1,350	$0.96	11d	2	1.32mi
209 Division Ave S Grand Rapids, MI	1.0–3.0	1.0–2.0	1180	$1,495	$1.27	21d	2	1.33mi
26 Cherry St SW Grand Rapids, MI	1.0–2.0	1.0–2.0	878	$1,275	$1.45	43d	2	1.35mi
240 Ionia Ave SW Grand Rapids, MI	1.0–2.0	1.0–2.0	922	$1,280	$1.39	43d	2	1.37mi
101 Division Ave S Grand Rapids, MI	2.0	2.0	1250	$1,302	$1.04	43d	1	1.39mi

Listing history 19 events

1. 2026-05-15
   status Pending 566-char remark

   Show marketing remark (566 chars)

   Your next find 4 Bedroom, 2 bath in Grand Rapids. Step in from the covered front porch and you enter the open living area, offering large windows that let the sunshine in. Spacious living room area leads you to the dining room, then into the kitchen. Upstairs you will find 3 bedrooms with large closets and a full bathroom. The basement includes 1 additional bedroom and thick carpeting throughout with multiple bonus rooms and storage area. Outside you will find a large yard with three car parking off the street and a large deck in the back with custom lighting.

2. 2026-05-15
   status Pending 566-char remark

   Show marketing remark (566 chars)

   Your next find 4 Bedroom, 2 bath in Grand Rapids. Step in from the covered front porch and you enter the open living area, offering large windows that let the sunshine in. Spacious living room area leads you to the dining room, then into the kitchen. Upstairs you will find 3 bedrooms with large closets and a full bathroom. The basement includes 1 additional bedroom and thick carpeting throughout with multiple bonus rooms and storage area. Outside you will find a large yard with three car parking off the street and a large deck in the back with custom lighting.

3. 2026-05-15
   status Pending

   Show marketing remark (566 chars)

   Your next find 4 Bedroom, 2 bath in Grand Rapids. Step in from the covered front porch and you enter the open living area, offering large windows that let the sunshine in. Spacious living room area leads you to the dining room, then into the kitchen. Upstairs you will find 3 bedrooms with large closets and a full bathroom. The basement includes 1 additional bedroom and thick carpeting throughout with multiple bonus rooms and storage area. Outside you will find a large yard with three car parking off the street and a large deck in the back with custom lighting.

4. 2026-05-01
   listed $299,900 Active 566-char remark

   Show marketing remark (566 chars)

   Your next find 4 Bedroom, 2 bath in Grand Rapids. Step in from the covered front porch and you enter the open living area, offering large windows that let the sunshine in. Spacious living room area leads you to the dining room, then into the kitchen. Upstairs you will find 3 bedrooms with large closets and a full bathroom. The basement includes 1 additional bedroom and thick carpeting throughout with multiple bonus rooms and storage area. Outside you will find a large yard with three car parking off the street and a large deck in the back with custom lighting.

5. 2026-05-01
   listed $299,900 Active 566-char remark

   Show marketing remark (566 chars)

   Your next find 4 Bedroom, 2 bath in Grand Rapids. Step in from the covered front porch and you enter the open living area, offering large windows that let the sunshine in. Spacious living room area leads you to the dining room, then into the kitchen. Upstairs you will find 3 bedrooms with large closets and a full bathroom. The basement includes 1 additional bedroom and thick carpeting throughout with multiple bonus rooms and storage area. Outside you will find a large yard with three car parking off the street and a large deck in the back with custom lighting.

6. 2026-05-01
   listed $299,900 Active

   Show marketing remark (566 chars)

   Your next find 4 Bedroom, 2 bath in Grand Rapids. Step in from the covered front porch and you enter the open living area, offering large windows that let the sunshine in. Spacious living room area leads you to the dining room, then into the kitchen. Upstairs you will find 3 bedrooms with large closets and a full bathroom. The basement includes 1 additional bedroom and thick carpeting throughout with multiple bonus rooms and storage area. Outside you will find a large yard with three car parking off the street and a large deck in the back with custom lighting.

7. 2022-03-04
   historical
8. 2022-03-04
   historical
9. 2022-03-03
   historical
10. 2022-02-19
    listed $240,000 Active
11. 2022-02-19
    listed $240,000 Active
12. 2022-02-19
    listed $240,000
13. 2017-03-03
    historical
14. 2016-11-17
    historical
15. 2016-11-16
    status Active
16. 2016-11-09
    historical
17. 2016-11-04
    listed $115,000 Active
18. 2016-11-03
    listed $115,000
19. 2006-05-09
    soldstatus $81,500

ⓘ 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: $1,632 · $136/mo
• Projected year-2 tax: $3,125 · $260/mo
• Expected delta: +$1,493/yr (+$124/mo · 91.5%)

ⓘ 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 ≥96°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: $24,122
• − Mortgage interest: −$16,799
• − Property taxes: −$1,632
• − Insurance: −$1,500
• − Repairs & maintenance: −$1,930
• − Management: −$1,930
• − Depreciation: −$8,724
• Taxable loss: −$8,392
• Est. tax savings @ 24.0%: +$2,014
• After-tax cash flow: $-933/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: Grand Rapids Public Schools
• NCES district ID: 2616440
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 29% ▼ -1.00%
• Median HH income: $40,612
• Composite: 18.62/100
• National rank: #8899
• State rank: #451 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

• Census place: Grand Rapids, MI
• County: Kent County · 533,805 people
• City population: 181,325
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 38,487
• Household income: $61,461
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1625.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Hispanic / Latino 31% Black 31% White 30% Two or more races 21%
• Hispanic origin (detail): Mexican 18% Puerto Rican 3% Dominican 1%
• Common ancestry: Iranian 8% Romanian 2% Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 71% English-only · Spanish 23% Arabic 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: ▼ -301.99%
• Current HPI: 325.3878
• Rent YoY: ▲ 4.74%
• 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

+268.0% since first listed

19 events — show timeline

• 2026-05-15 Pending — REALCOMP
• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-15 Pending — SW Michigan MLS
• 2026-05-01 Listed $299,900 SW Michigan MLS
• 2026-05-01 Listed $299,900 MiRealSource-MiMLS
• 2026-05-01 Listed $299,900 REALCOMP
• 2022-03-04 Listing Removed — REALCOMP
• 2022-03-04 Listing Removed — SW Michigan MLS
• 2022-03-03 Listing Removed — MiRealSource-MiMLS
• 2022-02-19 Listed $240,000 MiRealSource-MiMLS
• 2022-02-19 Listed $240,000 SW Michigan MLS
• 2022-02-19 Listed $240,000 REALCOMP
• 2017-03-03 Listing Removed — REALCOMP
• 2016-11-17 Listing Removed — SW Michigan MLS
• 2016-11-16 Relisted — SW Michigan MLS
• 2016-11-09 Listing Removed — SW Michigan MLS
• 2016-11-04 Listed $115,000 SW Michigan MLS
• 2016-11-03 Listed $115,000 REALCOMP
• 2006-05-09 Sold (Public Records) $81,500 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,632 · +2.4% YoY. Source: county tax records.