1070 Rathbone St SW · Wyoming, MI 49509

$234,900

4 bd · 2.0 ba · 1,680 sqft · SingleFamily public records · 27 Days on market

Built 1913 8,059 sqft lot $140/sqft · at area comps Est $246k · at est.

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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 +19.4/30.0
• ARV discount +9.6/15.0
• DSCR +6.1/10.0
• 1% rule +5.3/10.0
• Livability +3.9/5.0
• 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

This traditional home, built in 1913, offers 4 bedrooms and 2 full bathrooms, sitting on a desirable corner lot. The property includes one two-stall detached garages, providing great storage or rental potential. Major updates include a 9-year-old roof and water heater. While it needs some work, it's priced to reflect the condition and offers solid equity potential--perfect for those looking to add value.

Key facts

• 9-year-old roof
• Water heater
• Corner lot

Tags

• CORNER LOT
• TWO-STALL DETACHED GARAGES
• 9-YEAR-OLD ROOF
• WATER HEATER

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $235k).
• Recommended offer: $231k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: crime D-, amenities F, commute 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.
• Zoned schools: Godfrey Elementary School (331 students, 94% FRL); Lee Middle School (math 8% / reading 27%, grade F, #436 of 493 statewide, top 89%, 358 students, 92% FRL); Lee High School (math 12% / reading 27%, grade F, #622 of 713 statewide, top 88%, 503 students, 84% FRL).
• Market conditions: 89 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 45% of the median local income ($65k/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 $7k 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

• It's been on market 27 days — a 2% lower offer ($231k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 31y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $149k; list at $235k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $231,376 (1.5% below list)

Questions for the listing agent

1. Built in 1913 — 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. 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?
4. 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?
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: 1.03% ✓
• Cap rate: 7.64%
• Cash-on-cash: 4.81%
• DSCR: 1.21
• GRM: 8.1

CMA / ARV

• ARV (median comp): $246,157
• List price: $234,900
• Delta: -4.57%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1070 Rathbone St SW	0.00mi	4/2.0	1,680 (0%)	0mo	$234,900	$140	100
1715 Godfrey Ave SW	0.24mi	4/1.5	1,659 (-1%)	8mo	$257,500	$155	78
1219 Whiting St SW	0.18mi	4/2.0	1,872 (+11%)	1mo	$267,500	$143	71
1901 Federal Ave SW	0.62mi	4/1.5	1,687 (+0%)	11mo	$270,000	$160	59
1255 Whiting St SW	0.25mi	4/3.0	1,475 (-12%)	10mo	$265,000	$180	56
944 Burton St SW	0.62mi	4/1.0	1,603 (-5%)	11mo	$230,000	$143	50
1749 Burlingame Ave SW	0.68mi	5/2.0 (+1)	1,740 (+4%)	9mo	$270,000	$155	50
922 Burton St SW	0.64mi	5/1.5 (+1)	1,824 (+9%)	1mo	$250,800	$138	48
1667 Judd Ave SW	0.39mi	3/1.0 (-1)	1,440 (-14%)	6mo	$238,100	$165	44
1643 Burlingame Ave SW	0.65mi	3/1.0 (-1)	1,512 (-10%)	3mo	$235,000	$155	42
1824 Blandford Ave SW	0.73mi	3/1.0 (-1)	1,833 (+9%)	1mo	$267,500	$146	41
1809 Blandford Ave SW	0.75mi	3/1.0 (-1)	1,550 (-8%)	9mo	$287,000	$185	36

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: -8.8%
• Equity multiple: 0.68×
• Total profit: $-21,233
• Equity at exit: $35,024

10-year hold

• IRR: 0.7%
• Equity multiple: 1.05×
• Total profit: $3,329
• Equity at exit: $20,310

Cash invested: $65,772 (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: 89
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,421 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$320 /mo · $3,835/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $263

Break-even live

Break-even rent $2,088

Max offer price $234,900

Occupancy floor 84%

Sensitivity live

Price	-10% $396	-5% $330	+0% $263	+5% $197	+10% $130
Rent	-10% $72	-5% $168	+0% $263	+5% $359	+10% $455
Rate	-1.0pp $382	-0.5pp $323	base $263	+0.5pp $203	+1.0pp $141

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1640 Wendler Ave SW Wyoming, MI	4.0	2.5	1541	$2,450	$1.59	12d	1	0.20mi
1635 Cleveland Ave SW Wyoming, MI	4.0	2.0	1740	$2,495	$1.43	45d	1	0.26mi
1019 Norwich Ave SW Grand Rapids, MI	3.0	1.0	1214	$1,595	$1.31	4d	1	0.68mi
816 Kensington Ave SW Grand Rapids, MI	3.0	1.0	1600	$1,750	$1.09	22d	1	0.91mi

Listing history 25 events

1. 2026-05-11
   status Pending 407-char remark

   Show marketing remark (407 chars)

   This traditional home, built in 1913, offers 4 bedrooms and 2 full bathrooms, sitting on a desirable corner lot. The property includes one two-stall detached garages, providing great storage or rental potential. Major updates include a 9-year-old roof and water heater. While it needs some work, it's priced to reflect the condition and offers solid equity potential--perfect for those looking to add value.

2. 2026-05-11
   status Pending 407-char remark

   Show marketing remark (407 chars)

   This traditional home, built in 1913, offers 4 bedrooms and 2 full bathrooms, sitting on a desirable corner lot. The property includes one two-stall detached garages, providing great storage or rental potential. Major updates include a 9-year-old roof and water heater. While it needs some work, it's priced to reflect the condition and offers solid equity potential--perfect for those looking to add value.

3. 2026-05-11
   status Pending

   Show marketing remark (407 chars)

   This traditional home, built in 1913, offers 4 bedrooms and 2 full bathrooms, sitting on a desirable corner lot. The property includes one two-stall detached garages, providing great storage or rental potential. Major updates include a 9-year-old roof and water heater. While it needs some work, it's priced to reflect the condition and offers solid equity potential--perfect for those looking to add value.

4. 2026-05-08
   price $234,900 407-char remark

   Show marketing remark (407 chars)

   This traditional home, built in 1913, offers 4 bedrooms and 2 full bathrooms, sitting on a desirable corner lot. The property includes one two-stall detached garages, providing great storage or rental potential. Major updates include a 9-year-old roof and water heater. While it needs some work, it's priced to reflect the condition and offers solid equity potential--perfect for those looking to add value.

5. 2026-05-07
   price $234,900 407-char remark

   Show marketing remark (407 chars)

   This traditional home, built in 1913, offers 4 bedrooms and 2 full bathrooms, sitting on a desirable corner lot. The property includes one two-stall detached garages, providing great storage or rental potential. Major updates include a 9-year-old roof and water heater. While it needs some work, it's priced to reflect the condition and offers solid equity potential--perfect for those looking to add value.

6. 2026-05-07
   price $234,900

   Show marketing remark (407 chars)

   This traditional home, built in 1913, offers 4 bedrooms and 2 full bathrooms, sitting on a desirable corner lot. The property includes one two-stall detached garages, providing great storage or rental potential. Major updates include a 9-year-old roof and water heater. While it needs some work, it's priced to reflect the condition and offers solid equity potential--perfect for those looking to add value.

7. 2026-04-14
   listed $249,900 Active 407-char remark

   Show marketing remark (407 chars)

   This traditional home, built in 1913, offers 4 bedrooms and 2 full bathrooms, sitting on a desirable corner lot. The property includes one two-stall detached garages, providing great storage or rental potential. Major updates include a 9-year-old roof and water heater. While it needs some work, it's priced to reflect the condition and offers solid equity potential--perfect for those looking to add value.

8. 2026-04-14
   listed $249,900 Active 407-char remark

   Show marketing remark (407 chars)

   This traditional home, built in 1913, offers 4 bedrooms and 2 full bathrooms, sitting on a desirable corner lot. The property includes one two-stall detached garages, providing great storage or rental potential. Major updates include a 9-year-old roof and water heater. While it needs some work, it's priced to reflect the condition and offers solid equity potential--perfect for those looking to add value.

9. 2026-04-14
   listed $249,900 Active

   Show marketing remark (407 chars)

   This traditional home, built in 1913, offers 4 bedrooms and 2 full bathrooms, sitting on a desirable corner lot. The property includes one two-stall detached garages, providing great storage or rental potential. Major updates include a 9-year-old roof and water heater. While it needs some work, it's priced to reflect the condition and offers solid equity potential--perfect for those looking to add value.

10. 2018-11-27
    soldstatus $149,000
11. 2018-11-21
    soldstatus $149,000
12. 2018-11-21
    soldstatus $149,000 Sold
13. 2018-10-28
    status Pending
14. 2018-10-12
    price $149,900
15. 2018-09-15
    listed $149,900
16. 2018-09-15
    listed $154,000 Active
17. 2018-09-15
    listed $149,900
18. 2015-01-27
    historical
19. 2010-04-22
    soldstatus $22,000
20. 2010-04-22
    soldstatus $22,000
21. 2010-02-18
    listed $21,900
22. 2010-02-18
    listed $21,900
23. 1995-12-24
    historical
24. 1995-09-24
    listed $54,900
25. 1995-09-24
    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: $3,835 · $320/mo
• Projected year-2 tax: $3,835 · $320/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 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: $29,054
• − Mortgage interest: −$13,158
• − Property taxes: −$3,835
• − Insurance: −$1,174
• − Repairs & maintenance: −$2,324
• − Management: −$2,324
• − Depreciation: −$6,833
• Taxable loss: −$595
• Est. tax savings @ 24.0%: +$143
• After-tax cash flow: $3,304/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

+327.9% since first listed

25 events — show timeline

• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-11 Pending — REALCOMP
• 2026-05-11 Pending — SW Michigan MLS
• 2026-05-08 Price Changed $234,900 MiRealSource-MiMLS
• 2026-05-07 Price Changed $234,900 REALCOMP
• 2026-05-07 Price Changed $234,900 SW Michigan MLS
• 2026-04-14 Listed $249,900 SW Michigan MLS
• 2026-04-14 Listed $249,900 REALCOMP
• 2026-04-14 Listed $249,900 MiRealSource-MiMLS
• 2018-11-27 Sold (Public Records) $149,000 Public Records
• 2018-11-21 Sold (MLS) $149,000 SW Michigan MLS
• 2018-11-21 Sold (MLS) $149,000 REALCOMP
• 2018-10-28 Pending — SW Michigan MLS
• 2018-10-12 Price Changed $149,900 SW Michigan MLS
• 2018-09-15 Listed $149,900 MiRealSource-MiMLS
• 2018-09-15 Listed $154,000 SW Michigan MLS
• 2018-09-15 Listed $149,900 REALCOMP
• 2015-01-27 Listing Removed — SW Michigan MLS
• 2010-04-22 Sold (MLS) $22,000 REALCOMP
• 2010-04-22 Sold (MLS) $22,000 SW Michigan MLS
• 2010-02-18 Listed $21,900 REALCOMP
• 2010-02-18 Listed $21,900 SW Michigan MLS
• 1995-12-24 Listing Removed — REALCOMP
• 1995-09-24 Listed $54,900 REALCOMP
• 1995-09-24 Listed $54,900 SW Michigan MLS

Property tax history

+4.5%/yr

Latest (2025): $3,835 · -3.5% YoY. Source: county tax records.