835 SE Eastern Ave · Grand Rapids, MI 49507

$270,000

4 bd · 1.0 ba · 1,904 sqft · SingleFamily public records · 68 Days on market

Built 1922 3,049 sqft lot $142/sqft · 52% below area ↓ 8% since listing

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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 +19.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remarkable 4 bedroom, 3 bathroom home with lots of potential! Featuring a first level main bedroom, natural wood floors, formal dining room with French doors, and more! Catch the sun rise off the large covered porch, or take in the sun set from the second level balcony. Attached garage for convenience, and full partially finished basement with plenty of storage. This property is centrally located, and minutes from the downtown Grand Rapids district. Don't miss this opportunity! Give us a call today for more details.

Key facts

• Second level balcony
• Large covered porch
• Centrally located

Tags

• FIRST LEVEL MAIN BEDROOM
• LARGE COVERED PORCH
• SECOND LEVEL BALCONY
• PARTIALLY FINISHED BASEMENT
• CENTRALLY LOCATED

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/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 $240k (11.2% below list).
• Recommended offer: $240k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 4.5% in Grand Rapids — 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 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.
• Zoned schools: Campus Elementary (math 2% / reading 2%, grade F, #1,384 of 1,397 statewide, top 100%, 266 students, 97% FRL); Alger Middle School (math 2% / reading 12%, grade F, #481 of 493 statewide, top 98%, 342 students, 95% FRL); City Middlehigh (math 65% / reading 88%, grade A-, #16 of 713 statewide, top 2%, 908 students, 40% FRL) — zoned schools at 77% FRL track the district average.
• Market conditions: Rents rising fast (+4.7%/yr); 178 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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).
• At $2,398/mo this rent would consume 47% of the median local household income ($61k/yr) (locally 1625% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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

• It's been on market 68 days — a 6% lower offer ($254k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,767 (11.2% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.89% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.44%
• DSCR: 1.20
• GRM: 9.4

CMA / ARV

• ARV (median comp): $826,138
• List price: $270,000
• Delta: -67.32%
• 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: -7.7%
• Equity multiple: 0.71×
• Total profit: $-21,799
• Equity at exit: $40,258

10-year hold

• IRR: 3.7%
• Equity multiple: 1.29×
• Total profit: $21,617
• Equity at exit: $23,345

Cash invested: $75,600 (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: 9.4×

Monthly cashflow live

• Estimated rent: $2,398 high
• Mortgage (P&I): −$1,416
• Tax from tax record: −$86 /mo · $1,035/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$504
• Net cashflow: $279

Break-even live

Break-even rent $2,044

Max offer price $270,000

Occupancy floor 83%

Sensitivity live

Price	-10% $432	-5% $356	+0% $279	+5% $203	+10% $127
Rent	-10% $90	-5% $185	+0% $279	+5% $374	+10% $469
Rate	-1.0pp $415	-0.5pp $348	base $279	+0.5pp $210	+1.0pp $138

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: $67,500
• Closing costs: $8,100
• Reserves months: —
• Total cash needed: —

Rent comps 13 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	45d	1	0.17mi
550 Union Ave SE Grand Rapids, MI	3.0	1.5	1743	$2,800	$1.61	45d	1	0.43mi
425 Woodlawn St SE Grand Rapids, MI	4.0	1.0	2072	$2,200	$1.06	45d	1	0.49mi
728 Fuller Ave SE Grand Rapids, MI	4.0	2.0	2500	$2,200	$0.88	45d	1	0.57mi
1154 Prospect Ave SE Grand Rapids, MI	5.0	2.0	1800	$2,300	$1.28	45d	1	0.61mi
414 Paris Ave SE Grand Rapids, MI	3.0	1.5	1700	$2,850	$1.68	45d	1	0.62mi
1027 Underwood Ave SE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	16d	1	0.63mi
1321 Bemis St SE Grand Rapids, MI	4.0	2.5	2367	$2,700	$1.14	4d	1	0.82mi
258 Orchard Hill St SE Grand Rapids, MI	3.0	1.0	1300	$1,900	$1.46	45d	1	0.88mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	45d	1	1.14mi
325 Norwood Ave SE Grand Rapids, MI	3.0	1.5	1398	$2,700	$1.93	25d	1	1.17mi
350 Ionia Ave SW Grand Rapids, MI	2.0–3.0	2.0–3.0	1400	$1,350	$0.96	12d	2	1.21mi
209 Division Ave S Grand Rapids, MI	1.0–3.0	1.0–2.0	1180	$1,495	$1.27	22d	2	1.25mi

Listing history 21 events

1. 2026-06-21
   days on market $270,000 Active 68 DOM
2. 2026-06-19
   price $270,000 Active 65 DOM
3. 2026-06-18
   days on market $275,000 Active 65 DOM
4. 2026-06-17
   days on market $275,000 Active 64 DOM
5. 2026-06-16
   days on market $275,000 Active 63 DOM
6. 2026-06-15
   days on market $275,000 Active 62 DOM
7. 2026-06-14
   days on market $275,000 Active 60 DOM
8. 2026-06-13
   days on market $275,000 Active 59 DOM
9. 2026-06-10
   days on market $275,000 Active 57 DOM
10. 2026-06-09
    days on market $275,000 Active 56 DOM
11. 2026-06-08
    days on market $275,000 Active 55 DOM
12. 2026-06-07
    days on market $275,000 Active 54 DOM
13. 2026-06-05
    days on market $275,000 Active 51 DOM
14. 2026-06-03
    days on market $275,000 Active 50 DOM
15. 2026-06-03
    days on market $275,000 Active 49 DOM
16. 2026-06-01
    days on market $275,000 Active 48 DOM
17. 2026-05-31
    days on market $275,000 Active 47 DOM
18. 2026-05-19
    price $275,000 521-char remark

    Show marketing remark (522 chars)

    Remarkable 4 bedroom, 3 bathroom home with lots of potential! Featuring a first level main bedroom, natural wood floors, formal dining room with French doors, and more! Catch the sun rise off the large covered porch, or take in the sun set from the second level balcony. Attached garage for convenience, and full partially finished basement with plenty of storage. This property is centrally located, and minutes from the downtown Grand Rapids district. Don't miss this opportunity! Give us a call today for more details.

19. 2026-05-19
    price $275,000 522-char remark

    Show marketing remark (522 chars)

    Remarkable 4 bedroom, 3 bathroom home with lots of potential! Featuring a first level main bedroom, natural wood floors, formal dining room with French doors, and more! Catch the sun rise off the large covered porch, or take in the sun set from the second level balcony. Attached garage for convenience, and full partially finished basement with plenty of storage. This property is centrally located, and minutes from the downtown Grand Rapids district. Don't miss this opportunity! Give us a call today for more details.

20. 2026-04-14
    listed $300,000 Active 521-char remark

    Show marketing remark (522 chars)

    Remarkable 4 bedroom, 3 bathroom home with lots of potential! Featuring a first level main bedroom, natural wood floors, formal dining room with French doors, and more! Catch the sun rise off the large covered porch, or take in the sun set from the second level balcony. Attached garage for convenience, and full partially finished basement with plenty of storage. This property is centrally located, and minutes from the downtown Grand Rapids district. Don't miss this opportunity! Give us a call today for more details.

21. 2026-04-14
    listed $300,000 Active 522-char remark

    Show marketing remark (522 chars)

    Remarkable 4 bedroom, 3 bathroom home with lots of potential! Featuring a first level main bedroom, natural wood floors, formal dining room with French doors, and more! Catch the sun rise off the large covered porch, or take in the sun set from the second level balcony. Attached garage for convenience, and full partially finished basement with plenty of storage. This property is centrally located, and minutes from the downtown Grand Rapids district. Don't miss this opportunity! Give us a call today for more details.

ⓘ 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: $1,035 · $86/mo
• Projected year-2 tax: $2,597 · $216/mo
• Expected delta: +$1,561/yr (+$130/mo · 150.9%)

ⓘ 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: $28,772
• − Mortgage interest: −$15,124
• − Property taxes: −$1,035
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,302
• − Management: −$2,302
• − Depreciation: −$7,855
• Taxable loss: −$1,195
• Est. tax savings @ 24.0%: +$287
• After-tax cash flow: $3,641/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

-8.3% since first listed

4 events — show timeline

• 2026-05-19 Price Changed $275,000 REALCOMP
• 2026-05-19 Price Changed $275,000 Greater Lansing AoR
• 2026-04-14 Listed $300,000 Greater Lansing AoR
• 2026-04-14 Listed $300,000 REALCOMP

Property tax history

+2.4%/yr

Latest (2025): $1,035 · -37.4% YoY. Source: county tax records.