444 Diamond Ave · Grand Rapids, MI 49503 1874

$349,000

4 bd · 2.0 ba · 1,528 sqft · SingleFamily public records · 13 Days on market

Built 1920 7,405 sqft lot $228/sqft · 30% below area Est $486k · 28% 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 +9.3/30.0
• Appreciation +5.0/10.0
• Livability +4.2/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 1% rule +1.7/10.0

Listing remarks

Welcome to 444 Diamond Ave NE a beautifully updated traditional home in the heart of Midtown one of Grand Rapids' most sought-after neighborhoods. Just minutes from downtown, Eastown and everything along Michigan Street this property offers unmatched convenience with quick access to I 96, top rated hospitals, shopping, dining, and local schools. This spacious home features 4 bedrooms and 2 full bathrooms, complemented by stunning hardwood floors throughout. Recent updates enhance both style and functionality making this a true move-in-ready opportunity. The exterior has also been improved with the addition of a brand new privacy fence creating a more secluded and secure outdoor space. Step

Key facts

• 7,405 sq ft lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Natural gas heat fuel; Public water (service at street); Public sewer (at street); Electric service available
• Home design: Residential 2-story home; Built in 1920; Basement foundation
• Construction: Built in 1920; Aluminum and vinyl siding; Basement foundation
• Exterior features: Aluminum and vinyl siding; Paved street access; 40 feet frontage

Interior

• Kitchen: Kitchen located on entry level, approximately 14 x 12
• Bedrooms: Primary bedroom on second floor, approximately 14 x 12; Bedroom on entry level, approximately 11 x 12; Additional entry-level bedroom, approximately 10 (width); Second-floor bedroom, approximately 11 x 11
• Bathrooms: Two full bathrooms; one on entry level and one on second floor
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fan(s)
• Interior features: Total of 9 rooms; Unfinished basement
• Laundry & utility: Basement present (utility space)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $304k (12.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (33.4% below list).
• Recommended offer: $232k (33.4% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Alger Middle School (math 2% / reading 12%, grade F, #481 of 493 statewide, top 98%, 342 students, 95% FRL); City Middlehigh (math 65% / reading 88%, grade A-, #16 of 713 statewide, top 2%, 908 students, 40% FRL).
• Zoned-school proficiency averages 42% at this address vs 22% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Grand Rapids Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 1 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $10k appreciation (3.0% local appreciation)).
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $232,281 (33.4% 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 1920 — 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: 0.67% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.13%
• DSCR: 0.86
• GRM: 12.5

CMA / ARV

• ARV (median comp): $486,290
• List price: $349,000
• Delta: -28.23%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1602 Wealthy St SE	0.75mi	3/1.5 (-1)	1,596 (+4%)	15mo	$430,000	$269	38

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: 4.6%
• Equity multiple: 1.26×
• Total profit: $25,628
• Equity at exit: $156,926

10-year hold

• IRR: 7.7%
• Equity multiple: 2.16×
• Total profit: $113,841
• Equity at exit: $241,841

Cash invested: $97,720 (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 49503 1874

• Active inventory: 1
• Price-to-rent: 12.5×

Monthly cashflow live

• Estimated rent: $2,323 high
• Mortgage (P&I): −$1,830
• Tax from tax record: −$115 /mo · $1,375/yr
• Insurance: −$145
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $-255

Break-even live

Break-even rent $2,646

Max offer price $303,925

Occupancy floor —

Sensitivity live

Price	-10% $-58	-5% $-156	+0% $-255	+5% $-354	+10% $-453
Rent	-10% $-439	-5% $-347	+0% $-255	+5% $-163	+10% $-72
Rate	-1.0pp $-79	-0.5pp $-166	base $-255	+0.5pp $-346	+1.0pp $-438

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
258 Orchard Hill St SE Grand Rapids, MI	3.0	1.0	1300	$1,900	$1.46	45d	1	0.31mi
729 Bates St SE Unit 1 Grand Rapids, MI	4.0	3.5	1576	$2,395	$1.52	45d	1	0.46mi
550 Union Ave SE Grand Rapids, MI	3.0	1.5	1743	$2,800	$1.61	45d	1	0.51mi
414 Paris Ave SE Grand Rapids, MI	3.0	1.5	1700	$2,850	$1.68	45d	1	0.57mi
325 Norwood Ave SE Grand Rapids, MI	3.0	1.5	1398	$2,700	$1.93	25d	1	0.67mi
1027 Underwood Ave SE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	16d	1	0.75mi
425 Woodlawn St SE Grand Rapids, MI	4.0	1.0	2072	$2,200	$1.06	45d	1	1.04mi
1154 Prospect Ave SE Grand Rapids, MI	5.0	2.0	1800	$2,300	$1.28	45d	1	1.16mi
1542 Michigan St NE Grand Rapids, MI	3.0	1.0–2.0	836	$1,895	$2.27	5d	6	1.26mi
130 Plymouth Ave NE Grand Rapids, MI	4.0	2.0	2116	$2,750	$1.30	4d	1	1.26mi
414 Benson Ave NE Grand Rapids, MI	1.0–3.0	1.0–2.0	1110	$2,673	$2.41	45d	14	1.27mi
209 Division Ave S Grand Rapids, MI	1.0–3.0	1.0–2.0	1180	$1,495	$1.27	23d	2	1.28mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	45d	1	1.29mi
541 Eastern Ave NE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	45d	1	1.31mi
350 Ionia Ave SW Grand Rapids, MI	2.0–3.0	2.0–3.0	1400	$1,350	$0.96	13d	2	1.32mi

Listing history 17 events

1. 2026-05-12
   status Pending 1106-char remark
2. 2026-04-30
   listed $349,000 Active 1106-char remark
3. 2026-04-28
   historical $349,000 1106-char remark
4. 2015-02-07
   historical
5. 2015-02-07
   historical
6. 2015-02-05
   historical
7. 2007-06-19
   historical
8. 2007-03-20
   listed $85,000
9. 2007-03-20
   listed $85,000
10. 2006-01-18
    historical
11. 2005-10-18
    listed $88,500
12. 2005-10-18
    listed $88,500
13. 2005-10-18
    historical
14. 2005-04-19
    listed $89,000
15. 2005-04-19
    listed $89,000
16. 2004-04-30
    soldstatus $63,000
17. 2004-01-07
    listed $68,970

ⓘ 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: $1,375 · $115/mo
• Projected year-2 tax: $3,375 · $281/mo
• Expected delta: +$2,000/yr (+$167/mo · 145.5%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,874
• − Mortgage interest: −$19,549
• − Property taxes: −$1,375
• − Insurance: −$1,745
• − Repairs & maintenance: −$2,230
• − Management: −$2,230
• − Depreciation: −$10,153
• Taxable loss: −$9,408
• Est. tax savings @ 24.0%: +$2,258
• After-tax cash flow: $-804/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

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+397.3% since first listed

18 events — show timeline

• 2026-06-03 Sold (MLS) $343,000 MiRealSource-MiMLS
• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-04-30 Listed $349,000 MiRealSource-MiMLS
• 2026-04-28 Coming Soon $349,000 MiRealSource-MiMLS
• 2015-02-07 Listing Removed — SW Michigan MLS
• 2015-02-07 Listing Removed — SW Michigan MLS
• 2015-02-05 Listing Removed — SW Michigan MLS
• 2007-06-19 Listing Removed — REALCOMP
• 2007-03-20 Listed $85,000 REALCOMP
• 2007-03-20 Listed $85,000 SW Michigan MLS
• 2006-01-18 Listing Removed — REALCOMP
• 2005-10-18 Listing Removed — REALCOMP
• 2005-10-18 Listed $88,500 REALCOMP
• 2005-10-18 Listed $88,500 SW Michigan MLS
• 2005-04-19 Listed $89,000 REALCOMP
• 2005-04-19 Listed $89,000 SW Michigan MLS
• 2004-04-30 Sold (MLS) $63,000 SW Michigan MLS
• 2004-01-07 Listed $68,970 SW Michigan MLS

Property tax history

+2.6%/yr

Latest (2025): $1,375 · +2.7% YoY. Source: county tax records.