4823 84th St SE · Caledonia, MI 49316

$249,900

2 bd · 1.0 ba · 1,242 sqft · SingleFamily public records · 17 Days on market

Built 1965 2.18 ac lot Est $250k · at est.

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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 +13.9/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• DSCR +4.2/10.0
• Livability +3.9/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

Key facts

• More than two acres
• Walk in closet
• 2.18 acre lot

Tags

• MAIN FLOOR MASTER BEDROOM
• WALK IN CLOSET
• OUTBUILDINGS FOR STORAGE
• MORE THAN TWO ACRES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $27 ($329/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 $195k (21.9% below list).
• Recommended offer: $195k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.5% in Caledonia — 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 78/100 on livability (#101 in MI, #2,449 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety 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; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

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

• It's been on market 17 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 25y 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 $65k; list at $250k implies a 284% gain — meaningful room to come down on a strong offer.

Recommended offer $195,290 (21.9% below list)

Questions for the listing agent

1. Built in 1965 — 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. Schools are A-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?
4. 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?
5. 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.
6. 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.
7. 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: 0.78% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.47%
• DSCR: 1.02
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $249,642
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4823 84th St SE	0.00mi	2/1.0	1,242 (0%)	1mo	$250,000	$201	99

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-38,850
• Equity at exit: $37,261

10-year hold

• IRR: -7.2%
• Equity multiple: 0.54×
• Total profit: $-31,990
• Equity at exit: $21,607

Cash invested: $69,972 (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: 10.7×

Monthly cashflow live

• Estimated rent: $1,953 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$101 /mo · $1,209/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $27

Break-even live

Break-even rent $1,918

Max offer price $249,900

Occupancy floor 94%

Sensitivity live

Price	-10% $169	-5% $98	+0% $27	+5% $-43	+10% $-114
Rent	-10% $-127	-5% $-50	+0% $27	+5% $105	+10% $182
Rate	-1.0pp $153	-0.5pp $91	base $27	+0.5pp $-37	+1.0pp $-103

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-03-26
   status Pending 405-char remark

   Show marketing remark (405 chars)

   This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

2. 2026-03-26
   status Pending 405-char remark

   Show marketing remark (405 chars)

   This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

3. 2026-03-26
   status Pending

   Show marketing remark (405 chars)

   This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

4. 2026-03-13
   status Active 405-char remark

   Show marketing remark (405 chars)

   This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

5. 2026-03-13
   status Active 405-char remark

   Show marketing remark (405 chars)

   This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

6. 2026-03-13
   status Active

   Show marketing remark (405 chars)

   This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

7. 2026-03-08
   status Pending 405-char remark

   Show marketing remark (405 chars)

   This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

8. 2026-03-08
   status Pending 405-char remark

   Show marketing remark (405 chars)

   This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

9. 2026-03-08
   status Pending

   Show marketing remark (405 chars)

   This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

10. 2026-03-04
    listed $249,900 Active 405-char remark

    Show marketing remark (405 chars)

    This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

11. 2026-03-04
    listed $249,900 Active 405-char remark

    Show marketing remark (405 chars)

    This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

12. 2026-03-04
    listed $249,900 Active

    Show marketing remark (405 chars)

    This a great 2 bedroom 1 bath house in Caledonia Schools! The owner had hired a contractor last year to add an addition. He never finished it, but the shell is there! Its intended use was to be a main floor master bedroom, with walk in closet and bathroom. There is also a possible option of making the new addition a third bedroom for the home! 2 outbuildings for storage, and all on more than two acres!

13. 2014-09-18
    historical
14. 2014-09-16
    historical
15. 2014-09-15
    historical
16. 2014-09-15
    historical
17. 2014-09-15
    historical
18. 2013-07-08
    soldstatus $65,000
19. 2010-06-07
    historical
20. 2010-04-20
    listed $74,900
21. 2010-04-20
    listed $74,900
22. 2010-03-20
    historical
23. 2009-12-17
    listed $96,900
24. 2009-12-17
    listed $96,900
25. 2009-12-15
    historical
26. 2009-06-10
    listed $98,500
27. 2009-06-10
    listed $98,500
28. 2002-05-22
    soldstatus $74,000
29. 2002-05-22
    soldstatus $74,000
30. 2002-05-22
    soldstatus $74,000
31. 2002-03-28
    listed $89,000
32. 2002-03-28
    listed $89,000
33. 2001-12-31
    historical
34. 2001-11-30
    historical
35. 2001-08-13
    listed $149,000
36. 2001-08-13
    listed $149,000
37. 2001-06-18
    listed $99,900
38. 2001-06-18
    listed $99,900

ⓘ 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: $1,209 · $101/mo
• Projected year-2 tax: $2,529 · $211/mo
• Expected delta: +$1,320/yr (+$110/mo · 109.1%)

ⓘ 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 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,435
• − Mortgage interest: −$13,998
• − Property taxes: −$1,209
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$7,270
• Taxable loss: −$4,041
• Est. tax savings @ 24.0%: +$970
• After-tax cash flow: $1,299/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 — Caledonia

• Score: 78/100
• State rank: #101
• US rank: #2449

Category grades

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

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 (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 (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 · 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: ▼ -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

+150.2% since first listed

38 events — show timeline

• 2026-03-26 Pending — MiRealSource-MiMLS
• 2026-03-26 Pending — REALCOMP
• 2026-03-26 Pending — SW Michigan MLS
• 2026-03-13 Relisted — REALCOMP
• 2026-03-13 Relisted — MiRealSource-MiMLS
• 2026-03-13 Relisted — SW Michigan MLS
• 2026-03-08 Pending — REALCOMP
• 2026-03-08 Pending — MiRealSource-MiMLS
• 2026-03-08 Pending — SW Michigan MLS
• 2026-03-04 Listed $249,900 SW Michigan MLS
• 2026-03-04 Listed $249,900 REALCOMP
• 2026-03-04 Listed $249,900 MiRealSource-MiMLS
• 2014-09-18 Listing Removed — SW Michigan MLS
• 2014-09-16 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2013-07-08 Sold (Public Records) $65,000 Public Records
• 2010-06-07 Listing Removed — REALCOMP
• 2010-04-20 Listed $74,900 REALCOMP
• 2010-04-20 Listed $74,900 SW Michigan MLS
• 2010-03-20 Listing Removed — REALCOMP
• 2009-12-17 Listed $96,900 REALCOMP
• 2009-12-17 Listed $96,900 SW Michigan MLS
• 2009-12-15 Listing Removed — REALCOMP
• 2009-06-10 Listed $98,500 REALCOMP
• 2009-06-10 Listed $98,500 SW Michigan MLS
• 2002-05-22 Sold (Public Records) $74,000 Public Records
• 2002-05-22 Sold (MLS) $74,000 REALCOMP
• 2002-05-22 Sold (MLS) $74,000 SW Michigan MLS
• 2002-03-28 Listed $89,000 REALCOMP
• 2002-03-28 Listed $89,000 SW Michigan MLS
• 2001-12-31 Listing Removed — REALCOMP
• 2001-11-30 Listing Removed — REALCOMP
• 2001-08-13 Listed $149,000 REALCOMP
• 2001-08-13 Listed $149,000 SW Michigan MLS
• 2001-06-18 Listed $99,900 REALCOMP
• 2001-06-18 Listed $99,900 SW Michigan MLS

Property tax history

-3.1%/yr

Latest (2025): $1,209 · -30.5% YoY. Source: county tax records.