360 E Tuttle Rd #94 · Ionia, MI 48846

$69,900

3 bd · 2.0 ba · 1,568 sqft · SingleFamily · 62 Days on market

Built 1996 $45/sqft · 6% above area Est $66k · 6% over $649/mo HOA · 45% of rent

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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 +18.4/30.0
• 1% rule +10.0/10.0
• DSCR +5.8/10.0
• ARV discount +4.6/15.0
• Livability +3.6/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable 1500+ sq ft, 3 Bed, 2 Full bath home nestled in Ionia's Canterbury Estates. Wide open floor plan. Large kitchen with snack bar, plenty of cupboard space, built-ins, all appliances and access to Main Floor Laundry. Dining room has a beautiful gas fireplace and slider access to side deck. Good sized bedrooms including the primary bedroom with walk-in closet and private bath. Home has been well cared for with new carpet throughout and is mechanically sound including new furnace and water heater. Enclosed breezeway, accessibility ramp, paved driveway, and the icing on the cake is the 2-stall detached garage. Home is located in Canterbury Estates a growing Ionia Community with a full clubhouse, fitness center, pool, playground, basketball courts, and more. Hurry to show! Note: Buyer must secure community approval in order to purchase home.

Key facts

• Snack bar
• Wide open floor plan
• Large kitchen

Tags

• WIDE OPEN FLOOR PLAN
• LARGE KITCHEN
• SNACK BAR
• PLENTY OF CUPBOARD SPACE
• BUILT-INS
• ACCESS TO MAIN FLOOR LAUNDRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $65 ($778/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $66k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.9% in Ionia — 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 71/100 on livability (#276 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Ionia Public Schools (town): math 23% / reading 39% proficiency, ranked #353 of 540 in MI (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 87 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 94 units permitted in Ionia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $483 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ionia County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent.

Recommended offer $65,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.04% ✓
• Cap rate: 7.41%
• Cash-on-cash: 3.97%
• DSCR: 1.18
• GRM: 4.1

CMA / ARV

• ARV (median comp): $65,710
• List price: $69,900
• Delta: 6.38%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
360 E Tuttle Rd #256	0.08mi	3/2.0	1,400 (-11%)	18mo	$65,000	$46	63
1101 E Tuttle Rd	0.72mi	3/2.0	1,559 (-1%)	8mo	$365,000	$234	59
109 Holiday Dr	0.65mi	3/1.5	1,534 (-2%)	12mo	$240,000	$156	54
2304 Westover Dr	0.68mi	3/1.0	1,590 (+1%)	12mo	$252,500	$159	52
90 W Tuttle Rd	0.52mi	2/1.0 (-1)	1,350 (-14%)	6mo	$359,900	$267	38
176 Greenfield Dr	0.62mi	4/2.5 (+1)	1,653 (+5%)	22mo	$240,000	$145	37

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: -9.5%
• Equity multiple: 0.65×
• Total profit: $-6,821
• Equity at exit: $10,422

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $913
• Equity at exit: $6,044

Cash invested: $19,572 (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 48846

• Active inventory: 87
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,429 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$19 /mo · $233/yr
• Insurance: −$29
• HOA: −$649
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $65

Break-even live

Break-even rent $1,347

Max offer price $69,900

Occupancy floor 90%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
360 E Tuttle Rd Ionia, MI	3.0	2.0	1312	$1,429	$1.09	2d	1	0.06mi

HOA detail

• Monthly dues: $649 · $7,788/yr
• Likely covers: watergaspoolgym

Listing history 18 events

1. 2026-06-18
   days on market $69,900 Active 62 DOM
2. 2026-06-17
   days on market $69,900 Active 61 DOM
3. 2026-06-16
   days on market $69,900 Active 60 DOM
4. 2026-06-15
   days on market $69,900 Active 59 DOM
5. 2026-06-14
   days on market $69,900 Active 57 DOM
6. 2026-06-13
   days on market $69,900 Active 56 DOM
7. 2026-06-10
   days on market $69,900 Active 54 DOM
8. 2026-06-09
   days on market $69,900 Active 53 DOM
9. 2026-06-08
   days on market $69,900 Active 52 DOM
10. 2026-06-07
    days on market $69,900 Active 51 DOM
11. 2026-06-05
    days on market $69,900 Active 48 DOM
12. 2026-06-03
    days on market $69,900 Active 47 DOM
13. 2026-06-03
    days on market $69,900 Active 46 DOM
14. 2026-06-01
    days on market $69,900 Active 45 DOM
15. 2026-05-31
    days on market $69,900 Active 44 DOM
16. 2026-04-17
    listed $69,900 Active 858-char remark

    Show marketing remark (857 chars)

    Affordable 1500+ sq ft, 3 Bed, 2 Full bath home nestled in Ionia's Canterbury Estates. Wide open floor plan. Large kitchen with snack bar, plenty of cupboard space, built-ins, all appliances and access to Main Floor Laundry. Dining room has a beautiful gas fireplace and slider access to side deck. Good sized bedrooms including the primary bedroom with walk-in closet and private bath. Home has been well cared for with new carpet throughout and is mechanically sound including new furnace and water heater. Enclosed breezeway, accessibility ramp, paved driveway, and the icing on the cake is the 2-stall detached garage. Home is located in Canterbury Estates a growing Ionia Community with a full clubhouse, fitness center, pool, playground, basketball courts, and more. Hurry to show! Note: Buyer must secure community approval in order to purchase home.

17. 2026-04-17
    listed $69,900 Active 857-char remark

    Show marketing remark (857 chars)

    Affordable 1500+ sq ft, 3 Bed, 2 Full bath home nestled in Ionia's Canterbury Estates. Wide open floor plan. Large kitchen with snack bar, plenty of cupboard space, built-ins, all appliances and access to Main Floor Laundry. Dining room has a beautiful gas fireplace and slider access to side deck. Good sized bedrooms including the primary bedroom with walk-in closet and private bath. Home has been well cared for with new carpet throughout and is mechanically sound including new furnace and water heater. Enclosed breezeway, accessibility ramp, paved driveway, and the icing on the cake is the 2-stall detached garage. Home is located in Canterbury Estates a growing Ionia Community with a full clubhouse, fitness center, pool, playground, basketball courts, and more. Hurry to show! Note: Buyer must secure community approval in order to purchase home.

18. 2026-04-17
    listed $69,900 Active

    Show marketing remark (857 chars)

    Affordable 1500+ sq ft, 3 Bed, 2 Full bath home nestled in Ionia's Canterbury Estates. Wide open floor plan. Large kitchen with snack bar, plenty of cupboard space, built-ins, all appliances and access to Main Floor Laundry. Dining room has a beautiful gas fireplace and slider access to side deck. Good sized bedrooms including the primary bedroom with walk-in closet and private bath. Home has been well cared for with new carpet throughout and is mechanically sound including new furnace and water heater. Enclosed breezeway, accessibility ramp, paved driveway, and the icing on the cake is the 2-stall detached garage. Home is located in Canterbury Estates a growing Ionia Community with a full clubhouse, fitness center, pool, playground, basketball courts, and more. Hurry to show! Note: Buyer must secure community approval in order to purchase home.

ⓘ 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: $233 · $19/mo
• Projected year-2 tax: $655 · $55/mo
• Expected delta: +$422/yr (+$35/mo · 180.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,148
• − Mortgage interest: −$3,915
• − Property taxes: −$233
• − Insurance: −$350
• − Repairs & maintenance: −$1,372
• − Management: −$1,372
• − HOA: −$7,788
• − Depreciation: −$2,033
• Taxable income: $85
• Est. tax owed @ 24.0%: −$20
• After-tax cash flow: $757/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: Ionia Public Schools
• NCES district ID: 2619250
• Math proficiency: 23% ▼ -11.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $41,130
• Composite: 26.12/100
• National rank: #7283
• State rank: #353 of 540 in MI

Livability — Ionia

• Score: 71/100
• State rank: #276
• US rank: #6795

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment C+ Housing A+ Health & safety F User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 21,940
• Population (ZIP): 21,940

Population outlook (Ionia County) Hauer SSP2

• Today (2025): 63,958 people
• By 2030: 63,321 · -1.0%
• By 2040: 61,544 · -3.8%
• By 2050: 58,682 · -8.2%
• By 2075: 48,909 · -23.5%
• By 2100: 35,867 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 10% Two or more races 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Iranian 7% Romanian 3% Italian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Ionia

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -26.0pp toward R · 2008: -5.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+30.3 2016: R+31.0 2012: R+12.8 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -134.67%
• Current HPI: 247.6648
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

3 events — show timeline

• 2026-04-17 Listed $69,900 REALCOMP
• 2026-04-17 Listed $69,900 MiRealSource-MiMLS
• 2026-04-17 Listed $69,900 SW Michigan MLS

Property tax history

+3.4%/yr

Latest (2025): $233 · +4.2% YoY. Source: county tax records.