831 Second St NW · Grand Rapids, MI 49504

$200,000

4 bd · 1.0 ba · 1,156 sqft · SingleFamily public records · 16 Days on market

Built 1900 3,840 sqft lot

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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 +19.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming turn-of-the-century two-story home offers an abundance of character, space, and convenience. Featuring low-maintenance vinyl siding and a detached one-car garage, the property combines timeless appeal with practical updates. Inside, you'll find four spacious bedrooms, a functional kitchen, two inviting living areas perfect for entertaining or relaxing, an enclosed porch and a classic Michigan basement for additional storage. Situated on a desirable corner lot, this home places you just minutes from the heart of downtown Grand Rapids, where you can enjoy year-round festivals, dining, entertainment, and exciting sporting events. Conveniently located near West Michigan Whitecaps baseball games, Grand Rapids Griffins hockey action, and the highly anticipated Acrisure Amphitheater, this location offers something for everyone. Additional highlights include a newer hot water boiler heating system and an updated 10-year-old roof, providing peace of mind and enhanced efficiency for years to come.

Key facts

• Functional kitchen
• Desirable corner lot
• Enclosed porch

Tags

• LOW MAINTENANCE VINYL SIDING
• DETACHED ONE CAR GARAGE
• FUNCTIONAL KITCHEN
• ENCLOSED PORCH
• CLASSIC MICHIGAN BASEMENT
• DESIRABLE CORNER LOT

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Natural gas available and connected; Electricity available
• Home design: Historic single-family residence; Residential property; Built in 1900; 1,607 living area
• Construction: Vinyl siding; Composition shingle roof; Michigan basement
• Exterior features: Corner lot with sidewalk; Paved road access; Public water

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Hot water heating
• Interior features: 7 total rooms; Window treatments
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $217 ($3k/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 $189k (5.4% below list).
• Recommended offer: $189k (5.4% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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 (+2.6%/yr); 154 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% 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 32% 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 $1k of loan paydown is wiped out by about $6k 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 16 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $15k (7%) 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 $189,296 (5.4% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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: 0.95% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.66%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.64% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.66×
• Total profit: $-19,280
• Equity at exit: $29,821

10-year hold

• IRR: -0.5%
• Equity multiple: 0.97×
• Total profit: $-1,885
• Equity at exit: $17,292

Cash invested: $56,000 (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 49504

• Rents YoY: 2.6%
• Active inventory: 154
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,893 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$146 /mo · $1,750/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $217

Break-even live

Break-even rent $1,618

Max offer price $200,000

Occupancy floor 84%

Sensitivity live

Price	-10% $331	-5% $274	+0% $217	+5% $161	+10% $104
Rent	-10% $68	-5% $143	+0% $217	+5% $292	+10% $367
Rate	-1.0pp $318	-0.5pp $268	base $217	+0.5pp $166	+1.0pp $113

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 Gold Ave NW Grand Rapids, MI	3.0	1.0	1112	$1,549	$1.39	45d	1	0.45mi
1205 Bridge St NW Unit C Grand Rapids, MI	3.0	1.0	850	$1,900	$2.24	45d	1	0.48mi
700 Broadway Ave NW Unit 1 Grand Rapids, MI	4.0	2.0	1450	$2,795	$1.93	45d	1	0.53mi
1004 Jennette Ave NW Grand Rapids, MI	3.0	1.0	1000	$1,025	$1.02	45d	1	0.62mi
18 Indiana Ave SW Unit 2 Grand Rapids, MI	3.0	1.0	1000	$1,295	$1.29	45d	1	0.69mi
1044 Muskegon Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1100	$1,800	$1.64	45d	1	0.72mi
734 Crosby St NW Unit 1 Grand Rapids, MI	3.0	1.0	1057	$1,800	$1.70	45d	1	0.96mi
927 Arianna St NW Grand Rapids, MI	4.0	3.0	1500	$3,000	$2.00	45d	1	1.06mi
1335 Hamilton Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1124	$1,395	$1.24	45d	1	1.10mi
1429 Quarry Ave NW Unit 1 Grand Rapids, MI	3.0	1.5	1200	$1,800	$1.50	45d	1	1.18mi
209 Division Ave S Grand Rapids, MI	1.0–3.0	1.0–2.0	1180	$1,495	$1.27	22d	2	1.42mi
350 Ionia Ave SW Grand Rapids, MI	2.0–3.0	2.0–3.0	1400	$1,350	$0.96	12d	2	1.49mi

Listing history 15 events

1. 2026-06-07
   statusdays on market $200,000 Pending 16 DOM
2. 2026-06-05
   pricedays on market $200,000 Active 15 DOM
3. 2026-06-03
   days on market $214,900 Active 14 DOM
4. 2026-06-03
   days on market $214,900 Active 13 DOM
5. 2026-06-01
   days on market $214,900 Active 12 DOM
6. 2026-05-31
   days on market $214,900 Active 11 DOM
7. 2026-05-20
   status Active 1016-char remark

   Show marketing remark (846 chars)

   This charming turn-of-the-century two-story home offers an abundance of character, space, and convenience. Featuring low-maintenance vinyl siding and a detached one-car garage, the property combines timeless appeal with practical updates. Inside, you'll find four spacious bedrooms, a functional kitchen, two inviting living areas perfect for entertaining or relaxing, an enclosed porch and a classic Michigan basement for additional storage. Situated on a desirable corner lot, this home places you just minutes from the heart of downtown Grand Rapids, where you can enjoy year-round festivals, dining, entertainment, and exciting sporting events. Conveniently located near West Michigan Whitecaps baseball games, Grand Rapids Griffins hockey action, and the highly anticipated Acrisure Amphitheater, this location offers something for everyone.

8. 2026-05-20
   status Active 846-char remark

   Show marketing remark (846 chars)

   This charming turn-of-the-century two-story home offers an abundance of character, space, and convenience. Featuring low-maintenance vinyl siding and a detached one-car garage, the property combines timeless appeal with practical updates. Inside, you'll find four spacious bedrooms, a functional kitchen, two inviting living areas perfect for entertaining or relaxing, an enclosed porch and a classic Michigan basement for additional storage. Situated on a desirable corner lot, this home places you just minutes from the heart of downtown Grand Rapids, where you can enjoy year-round festivals, dining, entertainment, and exciting sporting events. Conveniently located near West Michigan Whitecaps baseball games, Grand Rapids Griffins hockey action, and the highly anticipated Acrisure Amphitheater, this location offers something for everyone.

9. 2026-05-20
   status Active

   Show marketing remark (846 chars)

   This charming turn-of-the-century two-story home offers an abundance of character, space, and convenience. Featuring low-maintenance vinyl siding and a detached one-car garage, the property combines timeless appeal with practical updates. Inside, you'll find four spacious bedrooms, a functional kitchen, two inviting living areas perfect for entertaining or relaxing, an enclosed porch and a classic Michigan basement for additional storage. Situated on a desirable corner lot, this home places you just minutes from the heart of downtown Grand Rapids, where you can enjoy year-round festivals, dining, entertainment, and exciting sporting events. Conveniently located near West Michigan Whitecaps baseball games, Grand Rapids Griffins hockey action, and the highly anticipated Acrisure Amphitheater, this location offers something for everyone.

10. 2026-05-14
    status Pending 1016-char remark

    Show marketing remark (846 chars)

    This charming turn-of-the-century two-story home offers an abundance of character, space, and convenience. Featuring low-maintenance vinyl siding and a detached one-car garage, the property combines timeless appeal with practical updates. Inside, you'll find four spacious bedrooms, a functional kitchen, two inviting living areas perfect for entertaining or relaxing, an enclosed porch and a classic Michigan basement for additional storage. Situated on a desirable corner lot, this home places you just minutes from the heart of downtown Grand Rapids, where you can enjoy year-round festivals, dining, entertainment, and exciting sporting events. Conveniently located near West Michigan Whitecaps baseball games, Grand Rapids Griffins hockey action, and the highly anticipated Acrisure Amphitheater, this location offers something for everyone.

11. 2026-05-14
    status Pending 846-char remark

    Show marketing remark (846 chars)

    This charming turn-of-the-century two-story home offers an abundance of character, space, and convenience. Featuring low-maintenance vinyl siding and a detached one-car garage, the property combines timeless appeal with practical updates. Inside, you'll find four spacious bedrooms, a functional kitchen, two inviting living areas perfect for entertaining or relaxing, an enclosed porch and a classic Michigan basement for additional storage. Situated on a desirable corner lot, this home places you just minutes from the heart of downtown Grand Rapids, where you can enjoy year-round festivals, dining, entertainment, and exciting sporting events. Conveniently located near West Michigan Whitecaps baseball games, Grand Rapids Griffins hockey action, and the highly anticipated Acrisure Amphitheater, this location offers something for everyone.

12. 2026-05-14
    status Pending

    Show marketing remark (846 chars)

    This charming turn-of-the-century two-story home offers an abundance of character, space, and convenience. Featuring low-maintenance vinyl siding and a detached one-car garage, the property combines timeless appeal with practical updates. Inside, you'll find four spacious bedrooms, a functional kitchen, two inviting living areas perfect for entertaining or relaxing, an enclosed porch and a classic Michigan basement for additional storage. Situated on a desirable corner lot, this home places you just minutes from the heart of downtown Grand Rapids, where you can enjoy year-round festivals, dining, entertainment, and exciting sporting events. Conveniently located near West Michigan Whitecaps baseball games, Grand Rapids Griffins hockey action, and the highly anticipated Acrisure Amphitheater, this location offers something for everyone.

13. 2026-05-13
    listed $214,900 Active 1016-char remark

    Show marketing remark (846 chars)

    This charming turn-of-the-century two-story home offers an abundance of character, space, and convenience. Featuring low-maintenance vinyl siding and a detached one-car garage, the property combines timeless appeal with practical updates. Inside, you'll find four spacious bedrooms, a functional kitchen, two inviting living areas perfect for entertaining or relaxing, an enclosed porch and a classic Michigan basement for additional storage. Situated on a desirable corner lot, this home places you just minutes from the heart of downtown Grand Rapids, where you can enjoy year-round festivals, dining, entertainment, and exciting sporting events. Conveniently located near West Michigan Whitecaps baseball games, Grand Rapids Griffins hockey action, and the highly anticipated Acrisure Amphitheater, this location offers something for everyone.

14. 2026-05-13
    listed $214,900 Active 846-char remark

    Show marketing remark (846 chars)

    This charming turn-of-the-century two-story home offers an abundance of character, space, and convenience. Featuring low-maintenance vinyl siding and a detached one-car garage, the property combines timeless appeal with practical updates. Inside, you'll find four spacious bedrooms, a functional kitchen, two inviting living areas perfect for entertaining or relaxing, an enclosed porch and a classic Michigan basement for additional storage. Situated on a desirable corner lot, this home places you just minutes from the heart of downtown Grand Rapids, where you can enjoy year-round festivals, dining, entertainment, and exciting sporting events. Conveniently located near West Michigan Whitecaps baseball games, Grand Rapids Griffins hockey action, and the highly anticipated Acrisure Amphitheater, this location offers something for everyone.

15. 2026-05-13
    listed $214,900 Active

    Show marketing remark (846 chars)

    This charming turn-of-the-century two-story home offers an abundance of character, space, and convenience. Featuring low-maintenance vinyl siding and a detached one-car garage, the property combines timeless appeal with practical updates. Inside, you'll find four spacious bedrooms, a functional kitchen, two inviting living areas perfect for entertaining or relaxing, an enclosed porch and a classic Michigan basement for additional storage. Situated on a desirable corner lot, this home places you just minutes from the heart of downtown Grand Rapids, where you can enjoy year-round festivals, dining, entertainment, and exciting sporting events. Conveniently located near West Michigan Whitecaps baseball games, Grand Rapids Griffins hockey action, and the highly anticipated Acrisure Amphitheater, this location offers something for everyone.

ⓘ 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: $1,750 · $146/mo
• Projected year-2 tax: $2,415 · $201/mo
• Expected delta: +$665/yr (+$55/mo · 38.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 23% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,716
• − Mortgage interest: −$11,203
• − Property taxes: −$1,750
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − Depreciation: −$5,818
• Taxable loss: −$691
• Est. tax savings @ 24.0%: +$166
• After-tax cash flow: $2,775/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): 40,036
• Household income: $70,119
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 2132.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 16% Two or more races 10% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Romanian 11% Iranian 10% Lithuanian 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -274.76%
• Current HPI: 313.231
• Rent YoY: ▲ 2.64%
• 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

+0.0% since first listed

9 events — show timeline

• 2026-05-20 Relisted — REALCOMP
• 2026-05-20 Relisted — MiRealSource-MiMLS
• 2026-05-20 Relisted — SW Michigan MLS
• 2026-05-14 Pending — REALCOMP
• 2026-05-14 Pending — MiRealSource-MiMLS
• 2026-05-14 Pending — SW Michigan MLS
• 2026-05-13 Listed $214,900 REALCOMP
• 2026-05-13 Listed $214,900 SW Michigan MLS
• 2026-05-13 Listed $214,900 MiRealSource-MiMLS

Property tax history

+2.2%/yr

Latest (2025): $1,750 · -1.2% YoY. Source: county tax records.