4436 Fennessey St SW · Walker, MI 49534

$283,999

3 bd · 1.0 ba · 1,383 sqft · SingleFamily public records · 32 Days on market

Built 1900 2.29 ac lot $205/sqft · 12% below area Est $324k · 12% under

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Why this score? — see what drove the C- 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 +14.8/30.0
• ARV discount +13.0/15.0
• Schools +4.8/10.0
• DSCR +4.5/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, Location, Location, with over 2 acres in a country setting in the Grandville Schools District. 3 bedrooms 1 full bath and main floor laundry living room. 1383 sqft finished. Home is in a quiet and private setting with plenty of room to roam, play or just enjoy the view of deer, rabbits and turkey. Large 24x36 pole barn with shelving and storage for cars and toys. A shed and motorhome slab of concrete 15 x 20. Home has had previous upgrades over the years. Home is move in ready now! So make your best offer to secure a home close to one of the best locations around the Grand Rapids area. Property does have an Oil well on it off the driveway with a private easement on drive to it. Also a private underground natural gas easement that is adjacent to the back part of the property for private use of land owner as a trail and is maintained for the property owners of adjacent lands. Close to Restaurants, Meijer, Blains, and HWY to downtown Grand Rapids.

Key facts

• 2.29 acre lot
• 4 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $284k.

Deal economics

• At list price, monthly cash flow is $80 ($956/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (19.3% below list).
• Recommended offer: $229k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.1% in Walker — 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 74/100 on livability (#188 in MI, #4,765 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, health & safety F.
• Grandville Public Schools (suburban): math 49% / reading 61% proficiency, ranked #70 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.9%/yr); 111 active listings in the ZIP; solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 34% of the median local income ($82k/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 $9k 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 32 days — a 3% lower offer ($275k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 34y 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 $118k; list at $284k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $229,087 (19.3% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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: 0.81% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.20%
• DSCR: 1.05
• GRM: 10.3

CMA / ARV

• ARV (median comp): $323,897
• List price: $283,999
• Delta: -12.32%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
758 Wilson Ave SW	0.30mi	3/1.5	1,226 (-11%)	10mo	$305,000	$249	57

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 · 7.87% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.63×
• Total profit: $-29,277
• Equity at exit: $42,345

10-year hold

• IRR: 4.9%
• Equity multiple: 1.43×
• Total profit: $34,054
• Equity at exit: $24,555

Cash invested: $79,520 (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 49534

• Home prices YoY: -28.4%
• Rents YoY: 7.9%
• Active inventory: 111
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,291 medium
• Mortgage (P&I): −$1,489
• Tax from tax record: −$122 /mo · $1,470/yr
• Insurance: −$118
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $80

Break-even live

Break-even rent $2,190

Max offer price $283,999

Occupancy floor 92%

Sensitivity live

Price	-10% $240	-5% $160	+0% $80	+5% $-1	+10% $-81
Rent	-10% $-101	-5% $-11	+0% $80	+5% $170	+10% $261
Rate	-1.0pp $223	-0.5pp $152	base $80	+0.5pp $6	+1.0pp $-69

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: $71,000
• Closing costs: $8,520
• Reserves months: —
• Total cash needed: —

Listing history 44 events

1. 2026-05-02
   status Active 968-char remark

   Show marketing remark (969 chars)

   Location, Location, Location, with over 2 acres in a country setting in the Grandville Schools District. 3 bedrooms 1 full bath and main floor laundry living room. 1383 sqft finished. Home is in a quiet and private setting with plenty of room to roam, play or just enjoy the view of deer, rabbits and turkey. Large 24x36 pole barn with shelving and storage for cars and toys. A shed and motorhome slab of concrete 15 x 20. Home has had previous upgrades over the years. Home is move in ready now! So make your best offer to secure a home close to one of the best locations around the Grand Rapids area. Property does have an Oil well on it off the driveway with a private easement on drive to it. Also a private underground natural gas easement that is adjacent to the back part of the property for private use of land owner as a trail and is maintained for the property owners of adjacent lands. Close to Restaurants, Meijer, Blains, and HWY to downtown Grand Rapids.

2. 2026-05-02
   status Active 969-char remark

   Show marketing remark (969 chars)

   Location, Location, Location, with over 2 acres in a country setting in the Grandville Schools District. 3 bedrooms 1 full bath and main floor laundry living room. 1383 sqft finished. Home is in a quiet and private setting with plenty of room to roam, play or just enjoy the view of deer, rabbits and turkey. Large 24x36 pole barn with shelving and storage for cars and toys. A shed and motorhome slab of concrete 15 x 20. Home has had previous upgrades over the years. Home is move in ready now! So make your best offer to secure a home close to one of the best locations around the Grand Rapids area. Property does have an Oil well on it off the driveway with a private easement on drive to it. Also a private underground natural gas easement that is adjacent to the back part of the property for private use of land owner as a trail and is maintained for the property owners of adjacent lands. Close to Restaurants, Meijer, Blains, and HWY to downtown Grand Rapids.

3. 2026-05-02
   status Active

   Show marketing remark (969 chars)

   Location, Location, Location, with over 2 acres in a country setting in the Grandville Schools District. 3 bedrooms 1 full bath and main floor laundry living room. 1383 sqft finished. Home is in a quiet and private setting with plenty of room to roam, play or just enjoy the view of deer, rabbits and turkey. Large 24x36 pole barn with shelving and storage for cars and toys. A shed and motorhome slab of concrete 15 x 20. Home has had previous upgrades over the years. Home is move in ready now! So make your best offer to secure a home close to one of the best locations around the Grand Rapids area. Property does have an Oil well on it off the driveway with a private easement on drive to it. Also a private underground natural gas easement that is adjacent to the back part of the property for private use of land owner as a trail and is maintained for the property owners of adjacent lands. Close to Restaurants, Meijer, Blains, and HWY to downtown Grand Rapids.

4. 2026-04-11
   status Pending 968-char remark

   Show marketing remark (969 chars)

   Location, Location, Location, with over 2 acres in a country setting in the Grandville Schools District. 3 bedrooms 1 full bath and main floor laundry living room. 1383 sqft finished. Home is in a quiet and private setting with plenty of room to roam, play or just enjoy the view of deer, rabbits and turkey. Large 24x36 pole barn with shelving and storage for cars and toys. A shed and motorhome slab of concrete 15 x 20. Home has had previous upgrades over the years. Home is move in ready now! So make your best offer to secure a home close to one of the best locations around the Grand Rapids area. Property does have an Oil well on it off the driveway with a private easement on drive to it. Also a private underground natural gas easement that is adjacent to the back part of the property for private use of land owner as a trail and is maintained for the property owners of adjacent lands. Close to Restaurants, Meijer, Blains, and HWY to downtown Grand Rapids.

5. 2026-04-11
   status Pending 969-char remark

   Show marketing remark (969 chars)

   Location, Location, Location, with over 2 acres in a country setting in the Grandville Schools District. 3 bedrooms 1 full bath and main floor laundry living room. 1383 sqft finished. Home is in a quiet and private setting with plenty of room to roam, play or just enjoy the view of deer, rabbits and turkey. Large 24x36 pole barn with shelving and storage for cars and toys. A shed and motorhome slab of concrete 15 x 20. Home has had previous upgrades over the years. Home is move in ready now! So make your best offer to secure a home close to one of the best locations around the Grand Rapids area. Property does have an Oil well on it off the driveway with a private easement on drive to it. Also a private underground natural gas easement that is adjacent to the back part of the property for private use of land owner as a trail and is maintained for the property owners of adjacent lands. Close to Restaurants, Meijer, Blains, and HWY to downtown Grand Rapids.

6. 2026-04-11
   status Pending

   Show marketing remark (969 chars)

   Location, Location, Location, with over 2 acres in a country setting in the Grandville Schools District. 3 bedrooms 1 full bath and main floor laundry living room. 1383 sqft finished. Home is in a quiet and private setting with plenty of room to roam, play or just enjoy the view of deer, rabbits and turkey. Large 24x36 pole barn with shelving and storage for cars and toys. A shed and motorhome slab of concrete 15 x 20. Home has had previous upgrades over the years. Home is move in ready now! So make your best offer to secure a home close to one of the best locations around the Grand Rapids area. Property does have an Oil well on it off the driveway with a private easement on drive to it. Also a private underground natural gas easement that is adjacent to the back part of the property for private use of land owner as a trail and is maintained for the property owners of adjacent lands. Close to Restaurants, Meijer, Blains, and HWY to downtown Grand Rapids.

7. 2026-04-02
   listed $283,999 Active 968-char remark

   Show marketing remark (969 chars)

   Location, Location, Location, with over 2 acres in a country setting in the Grandville Schools District. 3 bedrooms 1 full bath and main floor laundry living room. 1383 sqft finished. Home is in a quiet and private setting with plenty of room to roam, play or just enjoy the view of deer, rabbits and turkey. Large 24x36 pole barn with shelving and storage for cars and toys. A shed and motorhome slab of concrete 15 x 20. Home has had previous upgrades over the years. Home is move in ready now! So make your best offer to secure a home close to one of the best locations around the Grand Rapids area. Property does have an Oil well on it off the driveway with a private easement on drive to it. Also a private underground natural gas easement that is adjacent to the back part of the property for private use of land owner as a trail and is maintained for the property owners of adjacent lands. Close to Restaurants, Meijer, Blains, and HWY to downtown Grand Rapids.

8. 2026-04-02
   listed $283,999 Active 969-char remark

   Show marketing remark (969 chars)

   Location, Location, Location, with over 2 acres in a country setting in the Grandville Schools District. 3 bedrooms 1 full bath and main floor laundry living room. 1383 sqft finished. Home is in a quiet and private setting with plenty of room to roam, play or just enjoy the view of deer, rabbits and turkey. Large 24x36 pole barn with shelving and storage for cars and toys. A shed and motorhome slab of concrete 15 x 20. Home has had previous upgrades over the years. Home is move in ready now! So make your best offer to secure a home close to one of the best locations around the Grand Rapids area. Property does have an Oil well on it off the driveway with a private easement on drive to it. Also a private underground natural gas easement that is adjacent to the back part of the property for private use of land owner as a trail and is maintained for the property owners of adjacent lands. Close to Restaurants, Meijer, Blains, and HWY to downtown Grand Rapids.

9. 2026-04-02
   listed $283,999 Active

   Show marketing remark (969 chars)

   Location, Location, Location, with over 2 acres in a country setting in the Grandville Schools District. 3 bedrooms 1 full bath and main floor laundry living room. 1383 sqft finished. Home is in a quiet and private setting with plenty of room to roam, play or just enjoy the view of deer, rabbits and turkey. Large 24x36 pole barn with shelving and storage for cars and toys. A shed and motorhome slab of concrete 15 x 20. Home has had previous upgrades over the years. Home is move in ready now! So make your best offer to secure a home close to one of the best locations around the Grand Rapids area. Property does have an Oil well on it off the driveway with a private easement on drive to it. Also a private underground natural gas easement that is adjacent to the back part of the property for private use of land owner as a trail and is maintained for the property owners of adjacent lands. Close to Restaurants, Meijer, Blains, and HWY to downtown Grand Rapids.

10. 2025-12-15
    historical
11. 2025-11-05
    price $299,900
12. 2025-11-04
    price $299,900
13. 2025-11-04
    price $299,900
14. 2025-10-28
    price $315,000
15. 2025-10-27
    price $315,000
16. 2025-10-17
    price $340,000
17. 2025-10-16
    price $340,000
18. 2025-10-16
    price $340,000
19. 2025-10-02
    listed $345,000 Active
20. 2025-10-02
    listed $345,000 Active
21. 2015-01-11
    historical
22. 2015-01-11
    historical
23. 2015-01-09
    historical
24. 2005-09-06
    soldstatus $117,500
25. 2005-08-19
    soldstatus $117,500
26. 2005-08-19
    soldstatus $117,500
27. 2005-07-09
    listed $119,900
28. 2005-07-09
    listed $119,900
29. 2000-06-02
    soldstatus $87,000
30. 2000-05-25
    soldstatus $87,000
31. 2000-05-25
    soldstatus $87,000
32. 2000-04-24
    listed $89,900
33. 2000-04-24
    listed $89,900
34. 1993-03-05
    soldstatus $27,000
35. 1993-03-05
    soldstatus $27,000
36. 1993-01-27
    listed $39,900
37. 1993-01-27
    listed $39,900
38. 1993-01-17
    historical
39. 1992-12-04
    listed $39,900
40. 1992-12-04
    listed $39,900
41. 1992-08-30
    historical
42. 1992-05-30
    listed $48,500
43. 1992-05-30
    listed $54,900
44. 1992-05-30
    listed $48,500

ⓘ 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: $1,470 · $122/mo
• Projected year-2 tax: $2,922 · $243/mo
• Expected delta: +$1,452/yr (+$121/mo · 98.8%)

ⓘ 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: $27,490
• − Mortgage interest: −$15,908
• − Property taxes: −$1,470
• − Insurance: −$1,420
• − Repairs & maintenance: −$2,199
• − Management: −$2,199
• − Depreciation: −$8,262
• Taxable loss: −$3,968
• Est. tax savings @ 24.0%: +$952
• After-tax cash flow: $1,908/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: Grandville Public Schools
• NCES district ID: 2616470
• Math proficiency: 49% ▼ -5.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,935
• Composite: 47.74/100
• National rank: #2234
• State rank: #70 of 540 in MI

Livability — Walker

• Score: 74/100
• State rank: #188
• US rank: #4765

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walker, MI
• County: Kent County · 533,805 people
• City population: 33,350
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 23,719
• Household income: $81,657
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 415.0

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: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Iranian 20% Romanian 12% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Tagalog/Filipino 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: ▼ -107.59%
• Current HPI: 270.866
• Rent YoY: ▲ 7.87%
• 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

+485.6% since first listed

44 events — show timeline

• 2026-05-02 Relisted — MiRealSource-MiMLS
• 2026-05-02 Relisted — REALCOMP
• 2026-05-02 Relisted — SW Michigan MLS
• 2026-04-11 Pending — MiRealSource-MiMLS
• 2026-04-11 Pending — REALCOMP
• 2026-04-11 Pending — SW Michigan MLS
• 2026-04-02 Listed $283,999 SW Michigan MLS
• 2026-04-02 Listed $283,999 REALCOMP
• 2026-04-02 Listed $283,999 MiRealSource-MiMLS
• 2025-12-15 Listing Removed — MiRealSource-MiMLS
• 2025-11-05 Price Changed $299,900 MiRealSource-MiMLS
• 2025-11-04 Price Changed $299,900 REALCOMP
• 2025-11-04 Price Changed $299,900 SW Michigan MLS
• 2025-10-28 Price Changed $315,000 MiRealSource-MiMLS
• 2025-10-27 Price Changed $315,000 SW Michigan MLS
• 2025-10-17 Price Changed $340,000 MiRealSource-MiMLS
• 2025-10-16 Price Changed $340,000 REALCOMP
• 2025-10-16 Price Changed $340,000 SW Michigan MLS
• 2025-10-02 Listed $345,000 REALCOMP
• 2025-10-02 Listed $345,000 MiRealSource-MiMLS
• 2015-01-11 Listing Removed — SW Michigan MLS
• 2015-01-11 Listing Removed — SW Michigan MLS
• 2015-01-09 Listing Removed — SW Michigan MLS
• 2005-09-06 Sold (Public Records) $117,500 Public Records
• 2005-08-19 Sold (MLS) $117,500 REALCOMP
• 2005-08-19 Sold (MLS) $117,500 SW Michigan MLS
• 2005-07-09 Listed $119,900 REALCOMP
• 2005-07-09 Listed $119,900 SW Michigan MLS
• 2000-06-02 Sold (Public Records) $87,000 Public Records
• 2000-05-25 Sold (MLS) $87,000 REALCOMP
• 2000-05-25 Sold (MLS) $87,000 SW Michigan MLS
• 2000-04-24 Listed $89,900 REALCOMP
• 2000-04-24 Listed $89,900 SW Michigan MLS
• 1993-03-05 Sold (MLS) $27,000 REALCOMP
• 1993-03-05 Sold (MLS) $27,000 SW Michigan MLS
• 1993-01-27 Listed $39,900 REALCOMP
• 1993-01-27 Listed $39,900 SW Michigan MLS
• 1993-01-17 Listing Removed — REALCOMP
• 1992-12-04 Listed $39,900 REALCOMP
• 1992-12-04 Listed $39,900 SW Michigan MLS
• 1992-08-30 Listing Removed — REALCOMP
• 1992-05-30 Listed $48,500 REALCOMP
• 1992-05-30 Listed $54,900 SW Michigan MLS
• 1992-05-30 Listed $48,500 SW Michigan MLS

Property tax history

+2.2%/yr

Latest (2025): $1,470 · -19.9% YoY. Source: county tax records.