2098 Linden Ave SE · Grand Rapids, MI 49507

$230,000

3 bd · 1.5 ba · 1,176 sqft · Condo · 42 Days on market

Built 2024 Excellent condition $196/sqft · 20% below area Est $289k · 20% under $70/mo HOA · 4% of rent ↓ 8% since listing

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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 +8.4/30.0
• Condition / age +4.8/5.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• 1% rule +3.0/10.0
• DSCR +2.3/10.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own a home for less in Grand Rapids. This brand-new, thoughtfully designed home offers modern finishes, energy-efficient construction, and a rare opportunity to buy below market value (typically ~25% less). Offered through the Dwelling Place Community Land Trust (CLT):-You own the home-You build equity-You can sell in the futureThe difference? The land is leased from a nonprofit (~$50/month), keeping your purchase price significantly lower. Low down payment options available, with monthly payments often comparable to rent. When you sell, you keep your equity plus a portion of the appreciation--creating a smart, stable path to homeownership. Income-qualified buyers only. Multiple homes available. Visit www. dpclt.org for details. Photos are of a similar model. Buyer and buyer's agent to verify all information.

Key facts

• 3,984 sq ft lot
• Built 2024
• Listed 42 days

Property features AI

Finance

• HOA & community: Association fee of $70 monthly; Has association

Exterior

• Utilities: Public water; Natural gas connected; High-speed internet; Electric water heater
• Home design: Traditional style; Single family residence; New construction (2024)
• Construction: Vinyl siding; Composition shingle roof; Built in 2024
• Exterior features: Sidewalk; Leased land; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Has heating; Has cooling
• Interior features: Insulated windows; 8 total rooms; Full basement

🏷️ Possibly a rental listed for sale. The $230,000 price doesn't fit this home's estimated sale value (~$289,154) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $230k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-207 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (13.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $184k (20.1% below list).
• Recommended offer: $184k (20.1% 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: Brookside Elementary (math 2% / reading 8%, grade F, #1,325 of 1,397 statewide, top 99%, 280 students, 85% FRL); 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).
• Market conditions: Rents rising fast (+4.7%/yr); 178 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); 53% 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).
• This rent runs 36% of the median local income ($61k/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 $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 42 days — a 3% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Recommended offer $183,855 (20.1% 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. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.80% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.86%
• DSCR: 0.83
• GRM: 10.4

CMA / ARV

• ARV (median comp): $289,154
• List price: $230,000
• Delta: -20.46%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -20.7%
• Equity multiple: 0.27×
• Total profit: $-47,110
• Equity at exit: $34,294

10-year hold

• IRR: -10.4%
• Equity multiple: 0.32×
• Total profit: $-43,790
• Equity at exit: $19,886

Cash invested: $64,400 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,839 high
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$70
• Vacancy / Maint / Mgmt: −$386
• Net cashflow: $-207

Break-even live

Break-even rent $2,101

Max offer price $200,043

Occupancy floor —

Sensitivity live

Price	-10% $-48	-5% $-128	+0% $-207	+5% $-286	+10% $-366
Rent	-10% $-352	-5% $-280	+0% $-207	+5% $-134	+10% $-62
Rate	-1.0pp $-91	-0.5pp $-149	base $-207	+0.5pp $-267	+1.0pp $-327

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
950 Merritt St SE Grand Rapids, MI	3.0	1.0	1000	$2,100	$2.10	45d	1	0.35mi
1031 Merrifield St SE Grand Rapids, MI	3.0	2.0	1238	$2,300	$1.86	16d	1	0.42mi
1057 Griggs St SE Grand Rapids, MI	2.0	1.0	1100	$1,550	$1.41	45d	1	0.61mi
459 Dickinson St SE Grand Rapids, MI	2.0	1.0	731	$1,195	$1.63	45d	1	0.63mi
1220 Ottillia St SE Unit D Grand Rapids, MI	2.0	1.0	750	$1,150	$1.53	45d	1	0.70mi
2040 Division Ave S Unit 207 Grand Rapids, MI	2.0	1.0	768	$1,703	$2.22	4d	1	0.83mi
1309 Madison Ave SE Grand Rapids, MI	1.0–2.0	1.0	775	$1,560	$2.01	4d	1	1.07mi
1555 Margaret Ave SE Grand Rapids, MI	2.0	1.0	900	$1,500	$1.67	16d	1	1.12mi
242 Elm St SW Grand Rapids, MI	2.0	1.5	1100	$3,200	$2.91	4d	1	1.25mi
19 La Belle St SE Grand Rapids, MI	2.0	1.0	846	$1,045	$1.24	45d	1	1.28mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	45d	1	1.29mi
2928 Vineland Ave SE Unit 2928 Grand Rapids, MI	2.0	1.0	1000	$1,450	$1.45	25d	1	1.32mi
3202 Marshall Ave SE Grand Rapids, MI	2.0	1.0	850	$1,095	$1.29	45d	1	1.37mi
143 Exchange St SE Unit D Grand Rapids, MI	2.0	1.0	920	$1,295	$1.41	45d	1	1.49mi
143 Exchange St SE Apt B Grand Rapids, MI	2.0	1.0	920	$1,195	$1.30	16d	1	1.49mi

HOA detail condo

• Monthly dues: $70 · $840/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   status $230,000 Pending 42 DOM
2. 2026-06-18
   days on market $230,000 Active 42 DOM
3. 2026-06-17
   days on market $230,000 Active 41 DOM
4. 2026-06-16
   days on market $230,000 Active 40 DOM
5. 2026-06-15
   days on market $230,000 Active 39 DOM
6. 2026-06-14
   days on market $230,000 Active 37 DOM
7. 2026-06-13
   days on market $230,000 Active 36 DOM
8. 2026-06-10
   days on market $230,000 Active 34 DOM
9. 2026-06-09
   days on market $230,000 Active 33 DOM
10. 2026-06-08
    days on market $230,000 Active 32 DOM
11. 2026-06-07
    days on market $230,000 Active 31 DOM
12. 2026-06-05
    days on market $230,000 Active 28 DOM
13. 2026-06-03
    days on market $230,000 Active 27 DOM
14. 2026-06-03
    days on market $230,000 Active 26 DOM
15. 2026-06-01
    days on market $230,000 Active 25 DOM
16. 2026-05-31
    days on market $230,000 Active 24 DOM
17. 2026-05-07
    listed $230,000 Active 856-char remark

    Show marketing remark (820 chars)

    Own a home for less in Grand Rapids. This brand-new, thoughtfully designed home offers modern finishes, energy-efficient construction, and a rare opportunity to buy below market value (typically ~25% less). Offered through the Dwelling Place Community Land Trust (CLT):-You own the home-You build equity-You can sell in the futureThe difference? The land is leased from a nonprofit (~$50/month), keeping your purchase price significantly lower. Low down payment options available, with monthly payments often comparable to rent. When you sell, you keep your equity plus a portion of the appreciation--creating a smart, stable path to homeownership. Income-qualified buyers only. Multiple homes available. Visit www. dpclt.org for details. Photos are of a similar model. Buyer and buyer's agent to verify all information.

18. 2026-05-07
    listed $230,000 Active 820-char remark

    Show marketing remark (820 chars)

    Own a home for less in Grand Rapids. This brand-new, thoughtfully designed home offers modern finishes, energy-efficient construction, and a rare opportunity to buy below market value (typically ~25% less). Offered through the Dwelling Place Community Land Trust (CLT):-You own the home-You build equity-You can sell in the futureThe difference? The land is leased from a nonprofit (~$50/month), keeping your purchase price significantly lower. Low down payment options available, with monthly payments often comparable to rent. When you sell, you keep your equity plus a portion of the appreciation--creating a smart, stable path to homeownership. Income-qualified buyers only. Multiple homes available. Visit www. dpclt.org for details. Photos are of a similar model. Buyer and buyer's agent to verify all information.

19. 2026-05-07
    listed $230,000 Active

    Show marketing remark (820 chars)

    Own a home for less in Grand Rapids. This brand-new, thoughtfully designed home offers modern finishes, energy-efficient construction, and a rare opportunity to buy below market value (typically ~25% less). Offered through the Dwelling Place Community Land Trust (CLT):-You own the home-You build equity-You can sell in the futureThe difference? The land is leased from a nonprofit (~$50/month), keeping your purchase price significantly lower. Low down payment options available, with monthly payments often comparable to rent. When you sell, you keep your equity plus a portion of the appreciation--creating a smart, stable path to homeownership. Income-qualified buyers only. Multiple homes available. Visit www. dpclt.org for details. Photos are of a similar model. Buyer and buyer's agent to verify all information.

20. 2026-01-27
    historical
21. 2025-04-21
    listed $250,500 Active
22. 2025-04-21
    listed $250,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,063
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,765
• − Management: −$1,765
• − HOA: −$840
• − Depreciation: −$6,691
• Taxable loss: −$6,482
• Est. tax savings @ 24.0%: +$1,556
• After-tax cash flow: $-929/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.

Condition & rehab AI · 12 photos

Excellent 95/100 None rehab

This brand-new, thoughtfully designed home offers modern finishes, energy-efficient construction, and a rare opportunity to buy below market value. The land is leased from a nonprofit, keeping your purchase price significantly lower. Low down payment options available, with monthly payments often comparable to rent. When you sell, you keep your equity plus a portion of the appreciation.

Value-add opportunities

• Both Land lease — Keeps purchase price significantly lower.
• Both Landscaping — Enhances curb appeal and property value.
• Both Landscaping — Enhances curb appeal and property value.

Renovation cost estimate screening

Value-add ROI direction

• Both Land lease — Keeps purchase price significantly lower. ↑
• Both Landscaping — Enhances curb appeal and property value. ↑
• Both Landscaping — Enhances curb appeal and property value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-8.2% since first listed

6 events — show timeline

• 2026-05-07 Listed $230,000 MiRealSource-MiMLS
• 2026-05-07 Listed $230,000 REALCOMP
• 2026-05-07 Listed $230,000 SW Michigan MLS
• 2026-01-27 Listing Removed — MiRealSource-MiMLS
• 2025-04-21 Listed $250,500 REALCOMP
• 2025-04-21 Listed $250,500 MiRealSource-MiMLS