1836 Buchanan Ave SW · Grand Rapids, MI 49507

$169,900

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 14 Days on market

Built 1915 3,180 sqft lot

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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 +28.6/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.3/10.0
• Livability +4.2/5.0
• 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

This 3-bedroom, 1-bath home offers solid fundamentals with a few key updates already taken care of, including a newer roof, furnace, and water heater. Inside, you'll find a functional layout with a comfortable living space. Outside features include both front and back porches, a two-plus car driveway, and a manageable yard with a storage shed. With a little cosmetic updating, this home has strong potential at an affordable price point.

Key facts

• Newer furnace
• Newer roof
• Front porch

Tags

• NEWER ROOF
• NEWER FURNACE
• NEWER WATER HEATER
• FRONT PORCH
• BACK PORCH
• TWO-PLUS CAR DRIVEWAY

Property features AI

Finance

• HOA & community: No association fee

Exterior

• Utilities: Public water; Natural gas connected
• Home design: Colonial/Traditional style; Single family residence
• Construction: Aluminum siding; Shingle roof; Built in 1915
• Exterior features: Paved road access; 0.07 acre lot

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom; Two additional bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Replacement windows; 7 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 10.2% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 41% 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 $1k of loan paydown is wiped out by about $5k 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 + 4.7% rent growth), your $48k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 35y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,900

Questions for the listing agent

1. Built in 1915 — 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. 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?
4. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 10.25%
• Cash-on-cash: 14.12%
• DSCR: 1.63
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.74% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.25×
• Total profit: $11,822
• Equity at exit: $25,333

10-year hold

• IRR: 17.1%
• Equity multiple: 2.51×
• Total profit: $71,954
• Equity at exit: $14,690

Cash invested: $47,572 (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 49507

• Rents YoY: 4.7%
• Active inventory: 178
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,091 high
• Mortgage (P&I): −$891
• Tax from tax record: −$130 /mo · $1,564/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $560

Break-even live

Break-even rent $1,382

Max offer price $169,900

Occupancy floor 68%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
242 Elm St SW Grand Rapids, MI	2.0	1.5	1100	$3,200	$2.91	3d	1	0.13mi
2040 Division Ave S Unit 207 Grand Rapids, MI	2.0	1.0	768	$1,703	$2.22	3d	1	0.35mi
19 La Belle St SE Grand Rapids, MI	2.0	1.0	846	$1,045	$1.24	44d	1	0.67mi
2134 McKee Ave SW Unit 2 Grand Rapids, MI	2.0	1.0	780	$1,195	$1.53	44d	1	0.76mi
459 Dickinson St SE Grand Rapids, MI	2.0	1.0	731	$1,195	$1.63	44d	1	0.78mi
1309 Madison Ave SE Grand Rapids, MI	1.0–2.0	1.0	775	$1,560	$2.01	3d	1	0.86mi
2515 McKee Ave SW Unit 4 Wyoming, MI	2.0	1.0	900	$1,300	$1.44	14d	1	1.07mi
2633 Woodward Ave SW Apt B Wyoming, MI	2.0	1.0	950	$1,295	$1.36	44d	1	1.16mi
2680 Woodward Ave SW Apt 10 Wyoming, MI	2.0	1.0	900	$1,250	$1.39	24d	1	1.18mi
2680 Woodward Ave SW Apt 7 Wyoming, MI	2.0	1.0	900	$1,100	$1.22	24d	1	1.18mi
2680 Woodward Ave SW Apt 6 Wyoming, MI	2.0	1.0	900	$1,200	$1.33	24d	1	1.19mi
840 Lafayette Ave SE Unit 2 Grand Rapids, MI	3.0	1.0	950	$1,600	$1.68	44d	1	1.30mi
1019 Norwich Ave SW Grand Rapids, MI	3.0	1.0	1214	$1,595	$1.31	3d	1	1.30mi
2340 Michael Ave SW Unit 2280 4 Wyoming, MI	2.0	1.0	900	$1,200	$1.33	19d	1	1.33mi
434 Worden St SE Unit 2 Grand Rapids, MI	2.0	1.0	900	$1,495	$1.66	44d	1	1.38mi
950 Merritt St SE Grand Rapids, MI	3.0	1.0	1000	$2,100	$2.10	44d	1	1.43mi

Listing history 39 events

1. 2026-05-01
   status Pending 439-char remark

   Show marketing remark (439 chars)

   This 3-bedroom, 1-bath home offers solid fundamentals with a few key updates already taken care of, including a newer roof, furnace, and water heater. Inside, you'll find a functional layout with a comfortable living space. Outside features include both front and back porches, a two-plus car driveway, and a manageable yard with a storage shed. With a little cosmetic updating, this home has strong potential at an affordable price point.

2. 2026-05-01
   status Pending 439-char remark

   Show marketing remark (439 chars)

   This 3-bedroom, 1-bath home offers solid fundamentals with a few key updates already taken care of, including a newer roof, furnace, and water heater. Inside, you'll find a functional layout with a comfortable living space. Outside features include both front and back porches, a two-plus car driveway, and a manageable yard with a storage shed. With a little cosmetic updating, this home has strong potential at an affordable price point.

3. 2026-05-01
   status Pending

   Show marketing remark (439 chars)

   This 3-bedroom, 1-bath home offers solid fundamentals with a few key updates already taken care of, including a newer roof, furnace, and water heater. Inside, you'll find a functional layout with a comfortable living space. Outside features include both front and back porches, a two-plus car driveway, and a manageable yard with a storage shed. With a little cosmetic updating, this home has strong potential at an affordable price point.

4. 2026-04-29
   price $169,900 439-char remark

   Show marketing remark (439 chars)

   This 3-bedroom, 1-bath home offers solid fundamentals with a few key updates already taken care of, including a newer roof, furnace, and water heater. Inside, you'll find a functional layout with a comfortable living space. Outside features include both front and back porches, a two-plus car driveway, and a manageable yard with a storage shed. With a little cosmetic updating, this home has strong potential at an affordable price point.

5. 2026-04-29
   price $169,900 439-char remark

   Show marketing remark (439 chars)

   This 3-bedroom, 1-bath home offers solid fundamentals with a few key updates already taken care of, including a newer roof, furnace, and water heater. Inside, you'll find a functional layout with a comfortable living space. Outside features include both front and back porches, a two-plus car driveway, and a manageable yard with a storage shed. With a little cosmetic updating, this home has strong potential at an affordable price point.

6. 2026-04-29
   price $169,900

   Show marketing remark (439 chars)

   This 3-bedroom, 1-bath home offers solid fundamentals with a few key updates already taken care of, including a newer roof, furnace, and water heater. Inside, you'll find a functional layout with a comfortable living space. Outside features include both front and back porches, a two-plus car driveway, and a manageable yard with a storage shed. With a little cosmetic updating, this home has strong potential at an affordable price point.

7. 2026-04-17
   listed $179,900 Active 439-char remark

   Show marketing remark (439 chars)

   This 3-bedroom, 1-bath home offers solid fundamentals with a few key updates already taken care of, including a newer roof, furnace, and water heater. Inside, you'll find a functional layout with a comfortable living space. Outside features include both front and back porches, a two-plus car driveway, and a manageable yard with a storage shed. With a little cosmetic updating, this home has strong potential at an affordable price point.

8. 2026-04-17
   listed $179,900 Active 439-char remark

   Show marketing remark (439 chars)

   This 3-bedroom, 1-bath home offers solid fundamentals with a few key updates already taken care of, including a newer roof, furnace, and water heater. Inside, you'll find a functional layout with a comfortable living space. Outside features include both front and back porches, a two-plus car driveway, and a manageable yard with a storage shed. With a little cosmetic updating, this home has strong potential at an affordable price point.

9. 2026-04-17
   listed $179,900 Active

   Show marketing remark (439 chars)

   This 3-bedroom, 1-bath home offers solid fundamentals with a few key updates already taken care of, including a newer roof, furnace, and water heater. Inside, you'll find a functional layout with a comfortable living space. Outside features include both front and back porches, a two-plus car driveway, and a manageable yard with a storage shed. With a little cosmetic updating, this home has strong potential at an affordable price point.

10. 2026-03-31
    historical
11. 2026-03-12
    price $192,999
12. 2026-03-12
    price $192,999
13. 2026-03-12
    price $192,999
14. 2026-02-09
    listed $199,999 Active
15. 2026-02-09
    listed $199,999 Active
16. 2025-12-02
    historical
17. 2025-12-01
    historical
18. 2025-11-01
    price $199,900
19. 2025-11-01
    price $199,900
20. 2025-11-01
    price $199,900
21. 2025-10-24
    listed $224,900 Active
22. 2025-10-24
    listed $224,900 Active
23. 2024-01-03
    historical
24. 2024-01-03
    historical
25. 2023-10-25
    listed $169,000 Active
26. 2023-10-25
    listed $169,000 Active
27. 2020-12-31
    soldstatus $135,000
28. 2020-12-29
    soldstatus $135,000
29. 2020-12-29
    soldstatus $135,000 Sold
30. 2020-12-29
    soldstatus $135,000
31. 2020-11-24
    status Pending
32. 2020-11-18
    listed $120,000
33. 2020-11-18
    listed $120,000 Active
34. 2020-11-18
    listed $120,000
35. 2019-03-07
    soldstatus $100,000
36. 2015-01-29
    historical
37. 1992-01-05
    historical
38. 1991-06-19
    listed $29,900
39. 1991-06-19
    listed $29,900

ⓘ 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: $1,564 · $130/mo
• Projected year-2 tax: $2,090 · $174/mo
• Expected delta: +$526/yr (+$44/mo · 33.6%)

ⓘ 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 · 15 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: $25,091
• − Mortgage interest: −$9,517
• − Property taxes: −$1,564
• − Insurance: −$850
• − Repairs & maintenance: −$2,007
• − Management: −$2,007
• − Depreciation: −$4,943
• Taxable income: $4,203
• Est. tax owed @ 24.0%: −$1,009
• After-tax cash flow: $5,708/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

+468.2% since first listed

39 events — show timeline

• 2026-05-01 Pending — MiRealSource-MiMLS
• 2026-05-01 Pending — REALCOMP
• 2026-05-01 Pending — SW Michigan MLS
• 2026-04-29 Price Changed $169,900 MiRealSource-MiMLS
• 2026-04-29 Price Changed $169,900 REALCOMP
• 2026-04-29 Price Changed $169,900 SW Michigan MLS
• 2026-04-17 Listed $179,900 SW Michigan MLS
• 2026-04-17 Listed $179,900 REALCOMP
• 2026-04-17 Listed $179,900 MiRealSource-MiMLS
• 2026-03-31 Listing Removed — MiRealSource-MiMLS
• 2026-03-12 Price Changed $192,999 MiRealSource-MiMLS
• 2026-03-12 Price Changed $192,999 REALCOMP
• 2026-03-12 Price Changed $192,999 SW Michigan MLS
• 2026-02-09 Listed $199,999 REALCOMP
• 2026-02-09 Listed $199,999 MiRealSource-MiMLS
• 2025-12-02 Listing Removed — MiRealSource-MiMLS
• 2025-12-01 Listing Removed — REALCOMP
• 2025-11-01 Price Changed $199,900 MiRealSource-MiMLS
• 2025-11-01 Price Changed $199,900 REALCOMP
• 2025-11-01 Price Changed $199,900 SW Michigan MLS
• 2025-10-24 Listed $224,900 REALCOMP
• 2025-10-24 Listed $224,900 MiRealSource-MiMLS
• 2024-01-03 Listing Removed — MiRealSource-MiMLS
• 2024-01-03 Listing Removed — REALCOMP
• 2023-10-25 Listed $169,000 MiRealSource-MiMLS
• 2023-10-25 Listed $169,000 REALCOMP
• 2020-12-31 Sold (Public Records) $135,000 Public Records
• 2020-12-29 Sold (MLS) $135,000 MiRealSource-MiMLS
• 2020-12-29 Sold (MLS) $135,000 SW Michigan MLS
• 2020-12-29 Sold (MLS) $135,000 REALCOMP
• 2020-11-24 Pending — SW Michigan MLS
• 2020-11-18 Listed $120,000 MiRealSource-MiMLS
• 2020-11-18 Listed $120,000 SW Michigan MLS
• 2020-11-18 Listed $120,000 REALCOMP
• 2019-03-07 Sold (Public Records) $100,000 Public Records
• 2015-01-29 Listing Removed — SW Michigan MLS
• 1992-01-05 Listing Removed — REALCOMP
• 1991-06-19 Listed $29,900 REALCOMP
• 1991-06-19 Listed $29,900 SW Michigan MLS

Property tax history

+9.4%/yr

Latest (2025): $1,564 · -3.6% YoY. Source: county tax records.