613 Trinity Dr #1 · Wayland, MI 49316

$179,900

2 bd · 1.0 ba · 938 sqft · Condo public records · 10 Days on market

Built 1996 $250/mo HOA · 14% 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 +9.7/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the convenience of this inviting main-floor condo with 2 bedrooms and 1 full bath. This open floorplan has newer flooring throughout the living room and bedrooms. The back door opens to a private patio and a pleasant green space to enjoy. The spacious one-stall garage includes a handy bump-out for extra storage. Located in the Caledonia School District, this condo offers affordable living with a monthly association fee of $250, covering snow removal, lawn care, water, heat, and trash service. A great opportunity for low-maintenance living. Schedule your private showing today!

Key facts

• Green space
• Main-floor condo
• Private patio

Tags

• MAIN-FLOOR CONDO
• PRIVATE PATIO
• GREEN SPACE
• SPACIOUS GARAGE
• LOW-MAINTENANCE LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $180k.

Deal economics

• At list price, monthly cash flow is $-119 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (3.3% below list).
• Recommended offer: $163k (9.6% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 1.8% in Wayland — 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 77/100 on livability (#117 in MI, #2,796 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Caledonia Community Schools (suburban): math 58% / reading 68% proficiency, ranked #26 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Zoned schools: Emmons Lake Elementary School (math 56% / reading 66%, grade B, #190 of 1,397 statewide, top 14%, 400 students, 24% FRL); Kraft Meadows Intermediate School (math 54% / reading 67%, grade B+, #51 of 493 statewide, top 11%, 683 students, 23% FRL); Caledonia High School (math 47% / reading 73%, grade C+, #73 of 713 statewide, top 11%, 1,464 students, 20% FRL).
• Market conditions: 257 active listings in the ZIP; solid renter incomes; 419 units permitted in Allegan County in 2024 (0 in 5+ unit buildings).

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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 14y 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.

Recommended offer $162,654 (9.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.84%
• DSCR: 0.87
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -20.9%
• Equity multiple: 0.27×
• Total profit: $-36,563
• Equity at exit: $26,824

10-year hold

• IRR: -14.0%
• Equity multiple: 0.19×
• Total profit: $-40,882
• Equity at exit: $15,554

Cash invested: $50,372 (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 49316

• Home prices YoY: -33.4%
• Active inventory: 257
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,739 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$250
• Vacancy / Maint / Mgmt: −$365
• Net cashflow: $-119

Break-even live

Break-even rent $1,890

Max offer price $162,654

Occupancy floor —

Sensitivity live

Price	-10% $5	-5% $-57	+0% $-119	+5% $-181	+10% $-244
Rent	-10% $-257	-5% $-188	+0% $-119	+5% $-50	+10% $18
Rate	-1.0pp $-29	-0.5pp $-73	base $-119	+0.5pp $-166	+1.0pp $-213

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: watertrashlandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-04-28
   status Pending 591-char remark

   Show marketing remark (591 chars)

   Discover the convenience of this inviting main-floor condo with 2 bedrooms and 1 full bath. This open floorplan has newer flooring throughout the living room and bedrooms. The back door opens to a private patio and a pleasant green space to enjoy. The spacious one-stall garage includes a handy bump-out for extra storage. Located in the Caledonia School District, this condo offers affordable living with a monthly association fee of $250, covering snow removal, lawn care, water, heat, and trash service. A great opportunity for low-maintenance living. Schedule your private showing today!

2. 2026-04-28
   status Pending 591-char remark

   Show marketing remark (591 chars)

   Discover the convenience of this inviting main-floor condo with 2 bedrooms and 1 full bath. This open floorplan has newer flooring throughout the living room and bedrooms. The back door opens to a private patio and a pleasant green space to enjoy. The spacious one-stall garage includes a handy bump-out for extra storage. Located in the Caledonia School District, this condo offers affordable living with a monthly association fee of $250, covering snow removal, lawn care, water, heat, and trash service. A great opportunity for low-maintenance living. Schedule your private showing today!

3. 2026-04-28
   status Pending

   Show marketing remark (591 chars)

   Discover the convenience of this inviting main-floor condo with 2 bedrooms and 1 full bath. This open floorplan has newer flooring throughout the living room and bedrooms. The back door opens to a private patio and a pleasant green space to enjoy. The spacious one-stall garage includes a handy bump-out for extra storage. Located in the Caledonia School District, this condo offers affordable living with a monthly association fee of $250, covering snow removal, lawn care, water, heat, and trash service. A great opportunity for low-maintenance living. Schedule your private showing today!

4. 2026-04-16
   listed $179,900 Active 591-char remark

   Show marketing remark (591 chars)

   Discover the convenience of this inviting main-floor condo with 2 bedrooms and 1 full bath. This open floorplan has newer flooring throughout the living room and bedrooms. The back door opens to a private patio and a pleasant green space to enjoy. The spacious one-stall garage includes a handy bump-out for extra storage. Located in the Caledonia School District, this condo offers affordable living with a monthly association fee of $250, covering snow removal, lawn care, water, heat, and trash service. A great opportunity for low-maintenance living. Schedule your private showing today!

5. 2026-04-16
   listed $179,900 Active 591-char remark

   Show marketing remark (591 chars)

   Discover the convenience of this inviting main-floor condo with 2 bedrooms and 1 full bath. This open floorplan has newer flooring throughout the living room and bedrooms. The back door opens to a private patio and a pleasant green space to enjoy. The spacious one-stall garage includes a handy bump-out for extra storage. Located in the Caledonia School District, this condo offers affordable living with a monthly association fee of $250, covering snow removal, lawn care, water, heat, and trash service. A great opportunity for low-maintenance living. Schedule your private showing today!

6. 2026-04-16
   listed $179,900 Active

   Show marketing remark (591 chars)

   Discover the convenience of this inviting main-floor condo with 2 bedrooms and 1 full bath. This open floorplan has newer flooring throughout the living room and bedrooms. The back door opens to a private patio and a pleasant green space to enjoy. The spacious one-stall garage includes a handy bump-out for extra storage. Located in the Caledonia School District, this condo offers affordable living with a monthly association fee of $250, covering snow removal, lawn care, water, heat, and trash service. A great opportunity for low-maintenance living. Schedule your private showing today!

7. 2024-12-26
   soldstatus $160,000
8. 2019-03-01
   soldstatus $115,000
9. 2012-06-13
   soldstatus $54,900
10. 2012-05-24
    soldstatus $54,900
11. 2012-05-24
    soldstatus $54,900
12. 2012-01-10
    listed $54,900
13. 2012-01-10
    listed $54,900
14. 2005-06-15
    soldstatus $79,000

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

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 ≥97°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: $20,872
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$1,670
• − Management: −$1,670
• − HOA: −$3,000
• − Depreciation: −$5,233
• Taxable loss: −$4,376
• Est. tax savings @ 24.0%: +$1,050
• After-tax cash flow: $-380/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: Caledonia Community Schools
• NCES district ID: 2607620
• Math proficiency: 58% ▲ 2.00%
• Reading proficiency: 68% ▲ 1.00%
• Median HH income: $75,649
• Composite: 55.98/100
• National rank: #1196
• State rank: #26 of 540 in MI

Livability — Wayland

• Score: 77/100
• State rank: #117
• US rank: #2796

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 533,805 people
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 26,427
• Household income: $103,238
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 96.0

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 21% Romanian 7% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 92% English-only · Spanish 2% Vietnamese 2% Chinese 1%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.75%
• Current HPI: 235.3555
• Rent YoY: —
• 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

+127.7% since first listed

14 events — show timeline

• 2026-04-28 Pending — MiRealSource-MiMLS
• 2026-04-28 Pending — REALCOMP
• 2026-04-28 Pending — SW Michigan MLS
• 2026-04-16 Listed $179,900 SW Michigan MLS
• 2026-04-16 Listed $179,900 REALCOMP
• 2026-04-16 Listed $179,900 MiRealSource-MiMLS
• 2024-12-26 Sold (Public Records) $160,000 Public Records
• 2019-03-01 Sold (Public Records) $115,000 Public Records
• 2012-06-13 Sold (Public Records) $54,900 Public Records
• 2012-05-24 Sold (MLS) $54,900 REALCOMP
• 2012-05-24 Sold (MLS) $54,900 SW Michigan MLS
• 2012-01-10 Listed $54,900 REALCOMP
• 2012-01-10 Listed $54,900 SW Michigan MLS
• 2005-06-15 Sold (Public Records) $79,000 Public Records