3304 S Greenville Rd · Greenville, MI 48838

$230,000

3 bd · 1.5 ba · 2,201 sqft · SingleFamily public records · 23 Days on market

Built 1920 1.98 ac lot $104/sqft · 23% below area Est $311k · 26% under

---

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 +13.3/30.0
• DSCR +4.0/10.0
• 1% rule +3.8/10.0
• Schools +3.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious farmhouse situated on approximately 1.76 acres featuring 5 bedrooms, 2 full baths, and over 2,000 finished square feet. Property offers a functional layout with large living areas, main floor primary bedroom, open kitchen, and dual-sided wood burning fireplace shared between the dining and living rooms. Exterior amenities include a large barn, fully fenced backyard, and generous yard space. Property offers a great opportunity for a buyer ready to make their mark and enjoy some country living with room to grow, work, and entertain.

Key facts

• Functional layout
• Large living areas
• Generous yard space

Tags

• FUNCTIONAL LAYOUT
• LARGE LIVING AREAS
• OPEN KITCHEN
• LARGE BARN
• FULLY FENCED BACKYARD
• GENEROUS YARD SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $1 ($12/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 $201k (12.5% below list).
• Recommended offer: $201k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.1% in Greenville — 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 66/100 on livability (#426 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D, crime F, amenities F.
• Greenville Public Schools (town): math 35% / reading 52% proficiency, ranked #167 of 540 in MI (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 193 active listings in the ZIP; 273 units permitted in Montcalm County in 2024 (5 in 5+ unit buildings).
• This rent runs 34% of the median local income ($70k/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.
• Montcalm County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 10y 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 $92k; list at $230k implies a 150% 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 $201,329 (12.5% 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. 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?
4. 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?
5. 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?
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: 0.88% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.02%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (median comp): $311,321
• List price: $230,000
• Delta: -26.12%
• Verdict: UNDERPRICED
• Comps: 6 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-37,174
• Equity at exit: $34,294

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-32,164
• 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 48838

• Home prices YoY: -30.2%
• Active inventory: 193
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,013 medium
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $1

Break-even live

Break-even rent $2,012

Max offer price $230,000

Occupancy floor 95%

Sensitivity live

Price	-10% $160	-5% $80	+0% $1	+5% $-78	+10% $-158
Rent	-10% $-158	-5% $-79	+0% $1	+5% $81	+10% $160
Rate	-1.0pp $117	-0.5pp $60	base $1	+0.5pp $-59	+1.0pp $-119

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: —

Listing history 31 events

1. 2026-06-10
   days on market $230,000 Active 23 DOM
2. 2026-06-09
   days on market $230,000 Active 22 DOM
3. 2026-06-08
   days on market $230,000 Active 21 DOM
4. 2026-06-07
   pricedays on market $230,000 Active 20 DOM
5. 2026-06-03
   days on market $240,000 Active 16 DOM
6. 2026-06-03
   days on market $240,000 Active 15 DOM
7. 2026-06-01
   days on market $240,000 Active 14 DOM
8. 2026-05-31
   days on market $240,000 Active 13 DOM
9. 2026-05-15
   listed $240,000 Active 545-char remark
10. 2026-05-15
    listed $240,000 Active 545-char remark
11. 2026-05-15
    listed $240,000 Active
12. 2018-04-24
    soldstatus $92,000
13. 2018-04-18
    soldstatus $92,000
14. 2018-04-18
    soldstatus $92,000 Sold
15. 2018-04-18
    soldstatus $92,000
16. 2018-02-28
    status Pending
17. 2018-02-26
    listed $90,000
18. 2018-02-26
    listed $90,000 Active
19. 2018-02-26
    listed $90,000
20. 2018-02-26
    listed $90,000
21. 2017-02-22
    soldstatus $65,000
22. 2017-02-22
    soldstatus $65,000 Sold
23. 2016-12-13
    status Pending
24. 2016-12-05
    status Active
25. 2016-11-23
    historical
26. 2016-11-22
    price $69,900
27. 2016-11-07
    status Active
28. 2016-11-01
    status Pending
29. 2016-10-04
    price $89,900
30. 2016-09-07
    listed $99,900 Active
31. 2016-09-06
    listed $69,900

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,159
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,933
• − Management: −$1,933
• − Depreciation: −$6,691
• Taxable loss: −$3,881
• Est. tax savings @ 24.0%: +$931
• After-tax cash flow: $944/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: Greenville Public Schools
• NCES district ID: 2617160
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $44,624
• Composite: 36.81/100
• National rank: #4566
• State rank: #167 of 540 in MI

Livability — Greenville

• Score: 66/100
• State rank: #426
• US rank: #11581

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montcalm County · 18,212 people
• City population: 18,212
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 18,212
• Household income: $70,176
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 365.0

Population outlook (Montcalm County) Hauer SSP2

• Today (2025): 61,011 people
• By 2030: 59,467 · -2.5%
• By 2040: 55,427 · -9.2%
• By 2050: 50,517 · -17.2%
• By 2075: 38,731 · -36.5%
• By 2100: 26,770 · -56.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Iranian 5% Romanian 4% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5% Chinese 1%

Political lean MEDSL · Montcalm

• 2024 margin: Solid R (+39.0) · D 29.8% · R 68.7% · Other 1.5%
• 2008→2024 swing: -38.7pp toward R · 2008: -0.3pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+37.7 2016: R+34.0 2012: R+8.6 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.31%
• Current HPI: 249.996
• 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

+229.0% since first listed

30 events — show timeline

• 2026-06-11 Listing Removed — MiRealSource-MiMLS
• 2026-06-05 Price Changed $230,000 MiRealSource-MiMLS
• 2026-06-04 Price Changed $230,000 REALCOMP
• 2026-06-04 Price Changed $230,000 SW Michigan MLS
• 2026-05-22 Relisted — REALCOMP
• 2026-05-22 Relisted — MiRealSource-MiMLS
• 2026-05-19 Pending — REALCOMP
• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-15 Listed $240,000 REALCOMP
• 2026-05-15 Listed $240,000 MiRealSource-MiMLS
• 2018-04-24 Sold (Public Records) $92,000 Public Records
• 2018-04-18 Sold (MLS) $92,000 MiRealSource-MiMLS
• 2018-04-18 Sold (MLS) $92,000 SW Michigan MLS
• 2018-04-18 Sold (MLS) $92,000 REALCOMP
• 2018-02-28 Pending — SW Michigan MLS
• 2018-02-26 Listed $90,000 MiRealSource-MiMLS
• 2018-02-26 Listed $90,000 MiRealSource-MiMLS
• 2018-02-26 Listed $90,000 SW Michigan MLS
• 2018-02-26 Listed $90,000 REALCOMP
• 2017-02-22 Sold (MLS) $65,000 SW Michigan MLS
• 2017-02-22 Sold (MLS) $65,000 REALCOMP
• 2016-12-13 Pending — SW Michigan MLS
• 2016-12-05 Relisted — SW Michigan MLS
• 2016-11-23 Listing Removed — SW Michigan MLS
• 2016-11-22 Price Changed $69,900 SW Michigan MLS
• 2016-11-07 Relisted — SW Michigan MLS
• 2016-11-01 Pending — SW Michigan MLS
• 2016-10-04 Price Changed $89,900 SW Michigan MLS
• 2016-09-07 Listed $99,900 SW Michigan MLS
• 2016-09-06 Listed $69,900 REALCOMP