443 Dickinson St SE · Grand Rapids, MI 49507

$239,900

4 bd · 1.5 ba · 1,360 sqft · SingleFamily public records · 5 Days on market

Built 1920 5,532 sqft lot $176/sqft · at area comps Est $242k · at est.

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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 +20.4/30.0
• ARV discount +8.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.6/10.0
• 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

Character, charm, and sunlight in all the right places. This 4-bedroom, 1.5 bath home features beautiful hardwood floors, tall ceilings, and timeless details throughout. The main floor offers a spacious living room with a stunning focal-point fireplace, a formal dining room, an updated kitchen with newer appliances, convenient main floor laundry, and a half bath. Upstairs you'll find all four bedrooms along with a full bathroom. Outside, enjoy the brand new composite front deck, plus plenty of space out back for gardening, pets, or tossing a ball around. Recent updates include a new electrical panel, gutters, updated plumbing, and more. A warm and welcoming home with so much personality in every corner. Offers due by 12pm on Monday, May 18th.

Key facts

• Formal dining room
• Tall ceilings
• Main floor laundry

Tags

• HARDWOOD FLOORS
• TALL CEILINGS
• FOCAL-POINT FIREPLACE
• FORMAL DINING ROOM
• UPDATED KITCHEN
• MAIN FLOOR LAUNDRY

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional style single-family residence; Public water
• Construction: Built in 1920; Vinyl siding; Composition roof; Crawl space and full Michigan-style basement
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Fireplace; Window treatments; 8 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/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 $231k (3.6% below list).
• Recommended offer: $231k (3.6% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 78% 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).
• At $2,313/mo this rent would consume 45% of the median local household income ($61k/yr) (locally 1625% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 21 sale attempts since 32y 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 $150k; list at $240k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $231,319 (3.6% below list)

Questions for the listing agent

1. Built in 1920 — 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: 0.96% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.57%
• DSCR: 1.25
• GRM: 8.6

CMA / ARV

• ARV (median comp): $242,387
• List price: $239,900
• Delta: -1.03%
• Verdict: FAIR
• Comps: 20 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-14,952
• Equity at exit: $35,770

10-year hold

• IRR: 5.6%
• Equity multiple: 1.44×
• Total profit: $29,851
• Equity at exit: $20,742

Cash invested: $67,172 (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: 8.6×

Monthly cashflow live

• Estimated rent: $2,313 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$158 /mo · $1,892/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$486
• Net cashflow: $312

Break-even live

Break-even rent $1,919

Max offer price $239,900

Occupancy floor 82%

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1154 Prospect Ave SE Grand Rapids, MI	5.0	2.0	1800	$2,300	$1.28	43d	1	0.64mi
950 Merritt St SE Grand Rapids, MI	3.0	1.0	1000	$2,100	$2.10	43d	1	0.84mi
1031 Merrifield St SE Grand Rapids, MI	3.0	2.0	1238	$2,300	$1.86	14d	1	0.96mi
840 Lafayette Ave SE Unit 2 Grand Rapids, MI	3.0	1.0	950	$1,600	$1.68	43d	1	1.02mi
729 Bates St SE Unit 1 Grand Rapids, MI	4.0	3.5	1576	$2,395	$1.52	43d	1	1.18mi
2551 Eastern Ave SE Unit 1 Grand Rapids, MI	3.0	2.0	1600	$2,100	$1.31	43d	1	1.20mi
1027 Underwood Ave SE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	14d	1	1.20mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	43d	1	1.34mi
550 Union Ave SE Grand Rapids, MI	3.0	1.5	1743	$2,800	$1.61	43d	1	1.36mi

Listing history 46 events

1. 2026-05-14
   listed $239,900 Active 752-char remark

   Show marketing remark (752 chars)

   Character, charm, and sunlight in all the right places. This 4-bedroom, 1.5 bath home features beautiful hardwood floors, tall ceilings, and timeless details throughout. The main floor offers a spacious living room with a stunning focal-point fireplace, a formal dining room, an updated kitchen with newer appliances, convenient main floor laundry, and a half bath. Upstairs you'll find all four bedrooms along with a full bathroom. Outside, enjoy the brand new composite front deck, plus plenty of space out back for gardening, pets, or tossing a ball around. Recent updates include a new electrical panel, gutters, updated plumbing, and more. A warm and welcoming home with so much personality in every corner. Offers due by 12pm on Monday, May 18th.

2. 2026-05-14
   listed $239,900 Active 752-char remark

   Show marketing remark (752 chars)

   Character, charm, and sunlight in all the right places. This 4-bedroom, 1.5 bath home features beautiful hardwood floors, tall ceilings, and timeless details throughout. The main floor offers a spacious living room with a stunning focal-point fireplace, a formal dining room, an updated kitchen with newer appliances, convenient main floor laundry, and a half bath. Upstairs you'll find all four bedrooms along with a full bathroom. Outside, enjoy the brand new composite front deck, plus plenty of space out back for gardening, pets, or tossing a ball around. Recent updates include a new electrical panel, gutters, updated plumbing, and more. A warm and welcoming home with so much personality in every corner. Offers due by 12pm on Monday, May 18th.

3. 2026-05-14
   listed $239,900 Active

   Show marketing remark (752 chars)

   Character, charm, and sunlight in all the right places. This 4-bedroom, 1.5 bath home features beautiful hardwood floors, tall ceilings, and timeless details throughout. The main floor offers a spacious living room with a stunning focal-point fireplace, a formal dining room, an updated kitchen with newer appliances, convenient main floor laundry, and a half bath. Upstairs you'll find all four bedrooms along with a full bathroom. Outside, enjoy the brand new composite front deck, plus plenty of space out back for gardening, pets, or tossing a ball around. Recent updates include a new electrical panel, gutters, updated plumbing, and more. A warm and welcoming home with so much personality in every corner. Offers due by 12pm on Monday, May 18th.

4. 2019-05-20
   soldstatus $150,000
5. 2019-05-17
   soldstatus $150,000
6. 2019-05-17
   soldstatus $150,000
7. 2019-05-17
   listed $150,000
8. 2019-05-17
   listed $150,000
9. 2019-05-17
   listed $150,000
10. 2019-02-26
    soldstatus $83,000
11. 2019-02-22
    soldstatus $83,000
12. 2019-02-22
    soldstatus $83,000 Sold
13. 2019-02-11
    status Pending
14. 2019-02-06
    price $89,900
15. 2018-12-11
    listed $89,900
16. 2018-12-11
    listed $99,900 Active
17. 2018-12-11
    listed $89,900
18. 2017-03-02
    soldstatus $73,000
19. 2017-02-24
    soldstatus $73,000
20. 2017-02-24
    soldstatus $73,000 Sold
21. 2017-01-20
    status Pending
22. 2016-10-04
    listed $79,900 Active
23. 2016-10-04
    listed $79,900
24. 2016-08-22
    historical
25. 2016-08-21
    historical
26. 2016-06-21
    listed $84,900 Active
27. 2016-06-21
    listed $84,900
28. 2015-11-11
    historical
29. 2015-11-10
    historical
30. 2015-10-05
    price $82,900
31. 2015-09-04
    listed $89,900 Active
32. 2015-07-17
    listed $82,900
33. 2004-12-06
    soldstatus $49,500
34. 2004-11-18
    soldstatus $49,500
35. 2004-11-18
    soldstatus $49,500
36. 2004-06-15
    listed $49,800
37. 2004-06-15
    listed $49,800
38. 2000-02-04
    soldstatus $65,000
39. 1998-02-13
    soldstatus $30,000
40. 1998-02-13
    soldstatus $30,000
41. 1997-10-13
    listed $30,000
42. 1997-10-13
    listed $30,000
43. 1996-04-17
    soldstatus $36,900
44. 1996-04-17
    soldstatus $36,900
45. 1994-12-21
    listed $35,900
46. 1994-12-21
    listed $35,900

ⓘ 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: $1,892 · $158/mo
• Projected year-2 tax: $2,793 · $233/mo
• Expected delta: +$901/yr (+$75/mo · 47.6%)

ⓘ 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 3/10 Moderate 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: $27,758
• − Mortgage interest: −$13,438
• − Property taxes: −$1,892
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,221
• − Management: −$2,221
• − Depreciation: −$6,979
• Taxable loss: −$192
• Est. tax savings @ 24.0%: +$46
• After-tax cash flow: $3,787/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

+568.2% since first listed

49 events — show timeline

• 2026-05-20 Pending — REALCOMP
• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-19 Pending — SW Michigan MLS
• 2026-05-14 Listed $239,900 SW Michigan MLS
• 2026-05-14 Listed $239,900 MiRealSource-MiMLS
• 2026-05-14 Listed $239,900 REALCOMP
• 2019-05-20 Sold (Public Records) $150,000 Public Records
• 2019-05-17 Listed $150,000 MiRealSource-MiMLS
• 2019-05-17 Listed $150,000 SW Michigan MLS
• 2019-05-17 Listed $150,000 REALCOMP
• 2019-05-17 Sold (MLS) $150,000 SW Michigan MLS
• 2019-05-17 Sold (MLS) $150,000 REALCOMP
• 2019-02-26 Sold (Public Records) $83,000 Public Records
• 2019-02-22 Sold (MLS) $83,000 SW Michigan MLS
• 2019-02-22 Sold (MLS) $83,000 REALCOMP
• 2019-02-11 Pending — SW Michigan MLS
• 2019-02-06 Price Changed $89,900 SW Michigan MLS
• 2018-12-11 Listed $89,900 MiRealSource-MiMLS
• 2018-12-11 Listed $99,900 SW Michigan MLS
• 2018-12-11 Listed $89,900 REALCOMP
• 2017-03-02 Sold (Public Records) $73,000 Public Records
• 2017-02-24 Sold (MLS) $73,000 SW Michigan MLS
• 2017-02-24 Sold (MLS) $73,000 REALCOMP
• 2017-01-20 Pending — SW Michigan MLS
• 2016-10-04 Listed $79,900 SW Michigan MLS
• 2016-10-04 Listed $79,900 REALCOMP
• 2016-08-22 Listing Removed — SW Michigan MLS
• 2016-08-21 Listing Removed — REALCOMP
• 2016-06-21 Listed $84,900 SW Michigan MLS
• 2016-06-21 Listed $84,900 REALCOMP
• 2015-11-11 Listing Removed — SW Michigan MLS
• 2015-11-10 Listing Removed — REALCOMP
• 2015-10-05 Price Changed $82,900 SW Michigan MLS
• 2015-09-04 Listed $89,900 SW Michigan MLS
• 2015-07-17 Listed $82,900 REALCOMP
• 2004-12-06 Sold (Public Records) $49,500 Public Records
• 2004-11-18 Sold (MLS) $49,500 REALCOMP
• 2004-11-18 Sold (MLS) $49,500 SW Michigan MLS
• 2004-06-15 Listed $49,800 REALCOMP
• 2004-06-15 Listed $49,800 SW Michigan MLS
• 2000-02-04 Sold (Public Records) $65,000 Public Records
• 1998-02-13 Sold (MLS) $30,000 REALCOMP
• 1998-02-13 Sold (MLS) $30,000 SW Michigan MLS
• 1997-10-13 Listed $30,000 REALCOMP
• 1997-10-13 Listed $30,000 SW Michigan MLS
• 1996-04-17 Sold (MLS) $36,900 REALCOMP
• 1996-04-17 Sold (MLS) $36,900 SW Michigan MLS
• 1994-12-21 Listed $35,900 REALCOMP
• 1994-12-21 Listed $35,900 SW Michigan MLS

Property tax history

+4.5%/yr

Latest (2025): $1,892 · +2.4% YoY. Source: county tax records.