1862 Kalamazoo Ave SE · Grand Rapids, MI 49507

$254,900

4 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 19 Days on market

Built 1927 8,146 sqft lot $204/sqft · 34% below area Est $422k · 40% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• DSCR +3.8/10.0
• 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

Lots of possibilities for a new owner at a great value in downtown Grand Rapids! Desirable corner lot with a large fenced in backyard, this 4-bedroom, 1.5-bath home offers numerous updates throughout, including fresh paint, energy efficient replacement windows, updated kitchen cabinets, and a beautifully tiled shower. Plenty of living space with an open kitchen and dining spaces. Also large entryways with covered front porch. Schedule your showing today!

Key facts

• Covered front porch
• Fenced in backyard
• Corner lot

Tags

• CORNER LOT
• FENCED IN BACKYARD
• UPDATED KITCHEN CABINETS
• TILED SHOWER
• OPEN KITCHEN
• COVERED FRONT PORCH

Property features AI

Exterior

• Utilities: Natural gas connected; Natural gas water heater
• Home design: Traditional-style single-family residence; Built in 1927
• Construction: Vinyl siding; Shingle roof
• Exterior features: Corner lot with sidewalk; Paved road access; Public water

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: Eight total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $-23 ($-275/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (9.8% below list).
• Recommended offer: $230k (9.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Market conditions: Rents rising fast (+4.7%/yr); 178 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 45% 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 $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 19 days — a 2% lower offer ($251k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 38y 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 $115k; list at $255k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $229,957 (9.8% 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. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• GRM: 9.2

CMA / ARV

• ARV (median comp): $421,769
• List price: $254,900
• Delta: -39.56%
• 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: -14.9%
• Equity multiple: 0.46×
• Total profit: $-38,584
• Equity at exit: $38,006

10-year hold

• IRR: -3.4%
• Equity multiple: 0.75×
• Total profit: $-17,724
• Equity at exit: $22,039

Cash invested: $71,372 (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: 9.2×

Monthly cashflow live

• Estimated rent: $2,300 medium
• Mortgage (P&I): −$1,337
• Tax from tax record: −$397 /mo · $4,759/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $-23

Break-even live

Break-even rent $2,329

Max offer price $250,859

Occupancy floor 96%

Sensitivity live

Price	-10% $121	-5% $49	+0% $-23	+5% $-95	+10% $-167
Rent	-10% $-205	-5% $-114	+0% $-23	+5% $68	+10% $159
Rate	-1.0pp $105	-0.5pp $42	base $-23	+0.5pp $-89	+1.0pp $-156

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1031 Merrifield St SE Grand Rapids, MI	3.0	2.0	1238	$2,300	$1.86	15d	1	0.45mi
950 Merritt St SE Grand Rapids, MI	3.0	1.0	1000	$2,100	$2.10	44d	1	0.46mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	44d	1	0.63mi

Listing history 18 events

1. 2026-05-17
   price $254,900 458-char remark

   Show marketing remark (459 chars)

   Lots of possibilities for a new owner at a great value in downtown Grand Rapids! Desirable corner lot with a large fenced in backyard, this 4-bedroom, 1.5-bath home offers numerous updates throughout, including fresh paint, energy efficient replacement windows, updated kitchen cabinets, and a beautifully tiled shower. Plenty of living space with an open kitchen and dining spaces. Also large entryways with covered front porch. Schedule your showing today!

2. 2026-05-17
   price $254,900 459-char remark

   Show marketing remark (459 chars)

   Lots of possibilities for a new owner at a great value in downtown Grand Rapids! Desirable corner lot with a large fenced in backyard, this 4-bedroom, 1.5-bath home offers numerous updates throughout, including fresh paint, energy efficient replacement windows, updated kitchen cabinets, and a beautifully tiled shower. Plenty of living space with an open kitchen and dining spaces. Also large entryways with covered front porch. Schedule your showing today!

3. 2026-05-17
   price $254,900

   Show marketing remark (459 chars)

   Lots of possibilities for a new owner at a great value in downtown Grand Rapids! Desirable corner lot with a large fenced in backyard, this 4-bedroom, 1.5-bath home offers numerous updates throughout, including fresh paint, energy efficient replacement windows, updated kitchen cabinets, and a beautifully tiled shower. Plenty of living space with an open kitchen and dining spaces. Also large entryways with covered front porch. Schedule your showing today!

4. 2026-05-07
   listed $259,000 Active 458-char remark

   Show marketing remark (458 chars)

   Lots of possibilities for a new owner at a great value in downtown Grand Rapids! Desirable corner lot with a large fenced in backyard, this 4-bedroom, 1.5-bath home offers numerous updates throughout, including fresh paint, energy efficient replacement windows, updated kitchen cabinets, and a beautifully tiled shower. Plenty of living space with an open kitchen and dining spaces. Also large entryways with covered front porch. Schedule your showing today!

5. 2026-05-07
   listed $259,000 Active 459-char remark

   Show marketing remark (458 chars)

   Lots of possibilities for a new owner at a great value in downtown Grand Rapids! Desirable corner lot with a large fenced in backyard, this 4-bedroom, 1.5-bath home offers numerous updates throughout, including fresh paint, energy efficient replacement windows, updated kitchen cabinets, and a beautifully tiled shower. Plenty of living space with an open kitchen and dining spaces. Also large entryways with covered front porch. Schedule your showing today!

6. 2026-05-07
   listed $259,000 Active

   Show marketing remark (458 chars)

   Lots of possibilities for a new owner at a great value in downtown Grand Rapids! Desirable corner lot with a large fenced in backyard, this 4-bedroom, 1.5-bath home offers numerous updates throughout, including fresh paint, energy efficient replacement windows, updated kitchen cabinets, and a beautifully tiled shower. Plenty of living space with an open kitchen and dining spaces. Also large entryways with covered front porch. Schedule your showing today!

7. 2023-02-01
   soldstatus $115,000
8. 2023-01-27
   soldstatus $115,000 Sold
9. 2023-01-27
   soldstatus $115,000 Sold
10. 2023-01-27
    soldstatus $115,000 Closed
11. 2022-12-10
    status Pending
12. 2022-12-10
    status Pending
13. 2022-12-10
    status Pending
14. 2022-11-26
    listed $129,900 Active
15. 2022-11-26
    listed $129,900 Active
16. 2022-11-26
    listed $129,900 Active
17. 1988-06-30
    listed $44,900
18. 1988-06-30
    listed $44,900

ⓘ 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: $4,759 · $397/mo
• Projected year-2 tax: $4,759 · $397/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 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: $27,595
• − Mortgage interest: −$14,278
• − Property taxes: −$4,759
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,208
• − Management: −$2,208
• − Depreciation: −$7,415
• Taxable loss: −$4,548
• Est. tax savings @ 24.0%: +$1,091
• After-tax cash flow: $817/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

+467.7% since first listed

21 events — show timeline

• 2026-05-26 Pending — REALCOMP
• 2026-05-26 Pending — MiRealSource-MiMLS
• 2026-05-26 Pending — SW Michigan MLS
• 2026-05-17 Price Changed $254,900 MiRealSource-MiMLS
• 2026-05-17 Price Changed $254,900 REALCOMP
• 2026-05-17 Price Changed $254,900 SW Michigan MLS
• 2026-05-07 Listed $259,000 SW Michigan MLS
• 2026-05-07 Listed $259,000 MiRealSource-MiMLS
• 2026-05-07 Listed $259,000 REALCOMP
• 2023-02-01 Sold (Public Records) $115,000 Public Records
• 2023-01-27 Sold (MLS) $115,000 MiRealSource-MiMLS
• 2023-01-27 Sold (MLS) $115,000 SW Michigan MLS
• 2023-01-27 Sold (MLS) $115,000 REALCOMP
• 2022-12-10 Pending — REALCOMP
• 2022-12-10 Pending — MiRealSource-MiMLS
• 2022-12-10 Pending — SW Michigan MLS
• 2022-11-26 Listed $129,900 MiRealSource-MiMLS
• 2022-11-26 Listed $129,900 SW Michigan MLS
• 2022-11-26 Listed $129,900 REALCOMP
• 1988-06-30 Listed $44,900 REALCOMP
• 1988-06-30 Listed $44,900 SW Michigan MLS

Property tax history

+13.1%/yr

Latest (2025): $4,759 · +2.7% YoY. Source: county tax records.