4498 Mcintosh NW #8 · Walker, MI 49534

$58,800

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 71 Days on market

Built 2025 Fair condition $56/sqft · 15% below area Est $69k · 15% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +14.1/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, a playground, and a clubhouse. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Clubhouse
• Swimming pool
• Community events

Tags

• SWIMMING POOL
• CLUBHOUSE
• COMMUNITY EVENTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $59k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $59k).
• Recommended offer: $55k (6.0% below list) — sets the bar for market timing.
• Cap rate 27.8% 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.
• Kenowa Hills Public Schools (suburban): math 33% / reading 46% proficiency, ranked #205 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.9%/yr); 111 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $407 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 202% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $55,272 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 3.14% ✓
• Cap rate: 27.78%
• Cash-on-cash: 76.73%
• DSCR: 4.41
• GRM: 2.7

CMA / ARV

• ARV (median comp): $68,910
• List price: $58,800
• Delta: -14.67%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4500 Crabapple Ct NW	0.18mi	2/1.0 (-1)	980 (-7%)	3mo	$17,500	$18	68
4440 Jardin Dr NW #168	0.10mi	4/1.0 (+1)	980 (-7%)	7mo	$70,000	$71	68
4676 Gardens Blvd NW	0.28mi	3/2.0	1,210 (+15%)	8mo	$58,000	$48	56

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: 82.2%
• Equity multiple: 5.07×
• Total profit: $67,048
• Equity at exit: $8,767

10-year hold

• IRR: 86.7%
• Equity multiple: 12.41×
• Total profit: $187,936
• Equity at exit: $5,084

Cash invested: $16,464 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,847 high
• Mortgage (P&I): −$308
• Tax est. 1.5%: −$74 /mo · $882/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $1,053

Break-even live

Break-even rent $514

Max offer price $58,800

Occupancy floor 38%

Sensitivity live

Price	-10% $1,093	-5% $1,073	+0% $1,053	+5% $1,032	+10% $1,012
Rent	-10% $907	-5% $980	+0% $1,053	+5% $1,126	+10% $1,199
Rate	-1.0pp $1,082	-0.5pp $1,068	base $1,053	+0.5pp $1,038	+1.0pp $1,022

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: $14,700
• Closing costs: $1,764
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
511 Hampton Ln NW Walker, MI	1.0–2.0	1.0	763	$1,519	$1.99	3d	5	0.98mi
306 Manzana Ct NW Walker, MI	1.0–2.0	1.0	683	$1,392	$2.04	3d	52	1.20mi
680 Lake Michigan Dr NW Unit O-686 Grand Rapids, MI	2.0	1.0	900	$1,375	$1.53	3d	1	1.39mi
680 Lake Michigan Dr NW Unit O-682 Grand Rapids, MI	2.0	1.0	900	$1,275	$1.42	44d	1	1.39mi
680 Lake Michigan Dr NW Unit O-680 Grand Rapids, MI	2.0	1.0	900	$1,399	$1.55	12d	1	1.39mi
3822 Richmond St NW Walker, MI	3.0	2.0	1450	$2,645	$1.82	3d	1	1.48mi

Listing history 17 events

1. 2026-06-18
   days on market $58,800 Active 71 DOM
2. 2026-06-17
   days on market $58,800 Active 70 DOM
3. 2026-06-16
   days on market $58,800 Active 69 DOM
4. 2026-06-15
   days on market $58,800 Active 68 DOM
5. 2026-06-14
   days on market $58,800 Active 66 DOM
6. 2026-06-10
   days on market $58,800 Active 63 DOM
7. 2026-06-09
   days on market $58,800 Active 62 DOM
8. 2026-06-08
   days on market $58,800 Active 61 DOM
9. 2026-06-07
   days on market $58,800 Active 60 DOM
10. 2026-06-03
    days on market $58,800 Active 56 DOM
11. 2026-06-03
    days on market $58,800 Active 55 DOM
12. 2026-06-01
    pricedays on market $58,800 Active 54 DOM
13. 2026-05-31
    days on market $58,300 Active 53 DOM
14. 2026-04-13
    status Active 471-char remark

    Show marketing remark (471 chars)

    Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, a playground, and a clubhouse. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

15. 2026-04-13
    price $58,300 471-char remark

    Show marketing remark (471 chars)

    Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, a playground, and a clubhouse. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

16. 2025-05-21
    historical 471-char remark

    Show marketing remark (471 chars)

    Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, a playground, and a clubhouse. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

17. 2025-05-15
    listed $19,500 Active 471-char remark

    Show marketing remark (471 chars)

    Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as community events, a playground, and a clubhouse. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,164
• − Mortgage interest: −$3,294
• − Property taxes: −$882
• − Insurance: −$294
• − Repairs & maintenance: −$1,773
• − Management: −$1,773
• − Depreciation: −$1,711
• Taxable income: $12,438
• Est. tax owed @ 24.0%: −$2,985
• After-tax cash flow: $9,648/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.

Condition & rehab AI · 6 photos

Fair 40/100 Cosmetic rehab

This manufactured home has been recently updated with new cabinets, countertops, and flooring, but some minor repairs and maintenance are needed to improve its condition and value.

Repairs flagged

• Minor Paint scuff marks on interior walls — Small touch-ups needed.
• Minor Caulk around windows — Prevent water infiltration and improve appearance.

Value-add opportunities

• Resale Paint scuff marks on interior walls — Enhances the home's appearance and value.
• Resale Replace dated shower/tub combo in bathrooms — Modernizes the bathrooms and adds value.
• Rental Install new flooring in bathrooms — Improves the overall look and feel of the home, attracting renters.
• Both Add landscaping and curb appeal — Enhances the home's curb appeal and adds value for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint scuff marks on interior walls · Small touch-ups needed.	Minor	$500–3,000
Caulk around windows · Prevent water infiltration and improve appearance.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint scuff marks on interior walls — Enhances the home's appearance and value. ↑
• Resale Replace dated shower/tub combo in bathrooms — Modernizes the bathrooms and adds value. ↑
• Rental Install new flooring in bathrooms — Improves the overall look and feel of the home, attracting renters. ↑
• Both Add landscaping and curb appeal — Enhances the home's curb appeal and adds value for both resale and rental. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Kenowa Hills Public Schools
• NCES district ID: 2620280
• Math proficiency: 33% ▬ 0.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,387
• Composite: 34.36/100
• National rank: #5221
• State rank: #205 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

+199.0% since first listed

4 events — show timeline

• 2026-04-13 Price Changed $58,300 Zillow
• 2026-04-13 Relisted — Zillow
• 2025-05-21 Delisted — Zillow
• 2025-05-15 Listed $19,500 Zillow