1459 Godfrey Ave SW · Wyoming, MI 49509

$139,900

3 bd · 2.0 ba · 1,352 sqft · SingleFamily public records · 33 Days on market

Built 1900 4,792 sqft lot Est $264k · 47% under ↓ 13% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

Key facts

• 4,792 sq ft lot
• 4 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 3.8% in Wyoming — 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 (#126 in MI, #3,095 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D-, amenities F.
• Godfrey-Lee Public Schools (urban): math 9% / reading 27% proficiency, ranked #482 of 540 in MI (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 82% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 88 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 38% of the median local income ($65k/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 $967 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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?
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: 1.46% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.89%
• DSCR: 1.88
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $263,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1650 Wendler Ave SW	0.37mi	3/1.5	1,296 (-4%)	1mo	$250,000	$193	73
1945 Galewood Ave SW	0.57mi	3/1.5	1,337 (-1%)	2mo	$265,000	$198	68
1665 Martindale Ave SW	0.49mi	3/1.5	1,246 (-8%)	4mo	$285,000	$229	59
1061 Rathbone St SW	0.14mi	4/1.0 (+1)	1,171 (-13%)	6mo	$215,000	$184	57
1674 Cleveland Ave SW	0.44mi	3/2.0	1,166 (-14%)	1mo	$260,000	$223	56
1736 Wendler Ave SW	0.45mi	3/1.0	1,248 (-8%)	8mo	$239,900	$192	56
1667 Judd Ave SW	0.55mi	3/1.0	1,440 (+6%)	6mo	$238,100	$165	54
1747 Martindale Ave SW	0.55mi	4/2.0 (+1)	1,290 (-5%)	9mo	$255,000	$198	54
1217 Seneca St SW	0.50mi	4/1.0 (+1)	1,289 (-5%)	8mo	$210,000	$163	53
1638 Berkley Ave SW	0.68mi	3/1.5	1,174 (-13%)	0mo	$221,500	$189	44
1739 Berkley Ave SW	0.75mi	2/1.5 (-1)	1,282 (-5%)	8mo	$250,000	$195	43
2034 Roos Ave SW	0.72mi	3/1.0	1,156 (-14%)	1mo	$283,000	$245	37

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: 12.0%
• Equity multiple: 1.48×
• Total profit: $18,709
• Equity at exit: $20,860

10-year hold

• IRR: 21.0%
• Equity multiple: 2.78×
• Total profit: $69,661
• Equity at exit: $12,096

Cash invested: $39,172 (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 49509

• Active inventory: 88
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,046 high
• Mortgage (P&I): −$734
• Tax from tax record: −$175 /mo · $2,105/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $649

Break-even live

Break-even rent $1,224

Max offer price $139,900

Occupancy floor 63%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1640 Wendler Ave SW Wyoming, MI	4.0	2.5	1541	$2,450	$1.59	10d	1	0.36mi
1635 Cleveland Ave SW Wyoming, MI	4.0	2.0	1740	$2,495	$1.43	43d	1	0.42mi
1019 Norwich Ave SW Grand Rapids, MI	3.0	1.0	1214	$1,595	$1.31	3d	1	0.55mi
816 Kensington Ave SW Grand Rapids, MI	3.0	1.0	1600	$1,750	$1.09	21d	1	0.80mi
242 Elm St SW Grand Rapids, MI	2.0	1.5	1100	$3,200	$2.91	2d	1	1.00mi
2340 Michael Ave SW Unit 2280 4 Wyoming, MI	2.0	1.0	900	$1,200	$1.33	19d	1	1.07mi
400 Grant St SW Unit 2 Grand Rapids, MI	2.0	1.0	1000	$1,500	$1.50	2d	1	1.23mi
470 Market Ave SW Grand Rapids, MI	2.0	1.0–2.0	622	$2,090	$3.36	2d	17	1.27mi
2515 McKee Ave SW Unit 4 Wyoming, MI	2.0	1.0	900	$1,300	$1.44	14d	1	1.32mi
2633 Woodward Ave SW Apt B Wyoming, MI	2.0	1.0	950	$1,295	$1.36	43d	1	1.50mi

Listing history 10 events

1. 2026-03-27
   status Pending

   Show marketing remark (228 chars)

   Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

2. 2026-03-27
   status Pending 228-char remark

   Show marketing remark (228 chars)

   Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

3. 2026-03-21
   price $139,900 228-char remark

   Show marketing remark (228 chars)

   Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

4. 2026-03-21
   price $139,900

   Show marketing remark (228 chars)

   Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

5. 2026-03-21
   status Active

   Show marketing remark (228 chars)

   Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

6. 2026-03-21
   status Active 228-char remark

   Show marketing remark (228 chars)

   Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

7. 2026-03-17
   status Pending

   Show marketing remark (228 chars)

   Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

8. 2026-03-17
   status Pending 228-char remark

   Show marketing remark (228 chars)

   Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

9. 2026-02-18
   listed $159,900 Active

   Show marketing remark (228 chars)

   Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

10. 2026-02-18
    listed $159,900 Active 228-char remark

    Show marketing remark (228 chars)

    Property is in poor condition and needs considerable work. Both Units are rented $525 Down-$500-upLower unit heated by FA Furnace upper with space heater. With some modifications could be converted into a single family dwelling.

ⓘ 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: $2,105 · $175/mo
• Projected year-2 tax: $2,130 · $177/mo
• Expected delta: +$25/yr (+$2/mo · 1.2%)

ⓘ 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 ≥97°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: $24,555
• − Mortgage interest: −$7,837
• − Property taxes: −$2,105
• − Insurance: −$700
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − Depreciation: −$4,070
• Taxable income: $5,916
• Est. tax owed @ 24.0%: −$1,420
• After-tax cash flow: $6,371/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: Godfrey-Lee Public Schools
• NCES district ID: 2616080
• Math proficiency: 9% ▼ -1.00%
• Reading proficiency: 27% ▲ 5.00%
• Median HH income: $39,436
• Composite: 15.17/100
• National rank: #9345
• State rank: #482 of 540 in MI

Livability — Wyoming

• Score: 77/100
• State rank: #126
• US rank: #3095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wyoming, MI
• County: Kent County · 533,805 people
• City population: 56,117
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 28,152
• Household income: $65,132
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 681.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Hispanic / Latino 34% Two or more races 20% Black 10% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Cuban 2% Dominican 2%
• Common ancestry: Iranian 12% Romanian 6% Lithuanian 2%
• Foreign-born: 17% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 26% Vietnamese 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: ▼ -255.45%
• Current HPI: 345.1978
• 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

-12.5% since first listed

10 events — show timeline

• 2026-03-27 Pending — REALCOMP
• 2026-03-27 Pending — MiRealSource-MiMLS
• 2026-03-21 Price Changed $139,900 MiRealSource-MiMLS
• 2026-03-21 Price Changed $139,900 REALCOMP
• 2026-03-21 Relisted — REALCOMP
• 2026-03-21 Relisted — MiRealSource-MiMLS
• 2026-03-17 Pending — REALCOMP
• 2026-03-17 Pending — MiRealSource-MiMLS
• 2026-02-18 Listed $159,900 MiRealSource-MiMLS
• 2026-02-18 Listed $159,900 REALCOMP

Property tax history

+3.0%/yr

Latest (2025): $2,105 · -2.2% YoY. Source: county tax records.