1526 Coit Ave NE · Grand Rapids, MI 49505

$219,900

3 bd · 1.0 ba · 1,086 sqft · SingleFamily public records · 6 Days on market

Built 1885 3,267 sqft lot $202/sqft · 17% below area Est $264k · 17% under

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Why this score? — see what drove the C- 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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1526 Coit! This three bed one bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level features a spacious living area, dining space, kitchen, bedroom, full bath, and laundry! The upper level offers two bedrooms! The property features a fully fenced in backyard offering privacy and a perfect space to relax in the warm summer months ahead! Conveniently located, you are just minutes from Downtown Grand Rapids, parks, schools, and more! All offers reviewed Monday, May 11 at 12PM. Schedule your showing today!

Key facts

• 3,267 sq ft lot
• Built 1885
• Listed 6 days

Property features AI

Exterior

• Utilities: Public water; Electricity available; Natural gas available and connected
• Home design: Traditional single-family residence; Built in 1885
• Construction: Vinyl siding; Composition roof; Living area approximately 1,086
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Oven; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: 6 total rooms; Replacement windows; Michigan-style basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/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 (11.4% below list).
• Recommended offer: $195k (11.4% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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 fast (+4.5%/yr); 147 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 93% 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 31% of the median local income ($75k/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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 17 sale attempts since 34y 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.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,900 (11.4% below list)

Questions for the listing agent

1. Built in 1885 — 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. 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.
5. 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.
6. 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: 0.89% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.91%
• DSCR: 1.13
• GRM: 9.4

CMA / ARV

• ARV (median comp): $264,382
• List price: $219,900
• Delta: -16.82%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.55% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.62×
• Total profit: $-23,094
• Equity at exit: $32,788

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $4,995
• Equity at exit: $19,013

Cash invested: $61,572 (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 49505

• Rents YoY: 4.5%
• Active inventory: 147
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$146 /mo · $1,748/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $149

Break-even live

Break-even rent $1,760

Max offer price $219,900

Occupancy floor 87%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 Mathews Ct NE Grand Rapids, MI	3.0	1.5	1100	$1,850	$1.68	43d	1	0.14mi
1359 Plainfield Ave NE Grand Rapids, MI	2.0	1.0–2.0	720	$2,325	$3.23	3d	9	0.16mi
41 Caledonia St NE Unit 1 Grand Rapids, MI	2.0	1.0	800	$1,395	$1.74	43d	1	0.17mi
135 Page St NE Grand Rapids, MI	3.0	2.0	1100	$3,100	$2.82	43d	1	0.24mi
202 Leonard St NE Grand Rapids, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.38mi
120 Leonard St NE Unit 2 Grand Rapids, MI	2.0	1.0	750	$1,275	$1.70	43d	1	0.39mi
239 Ann St NE Unit 1 Grand Rapids, MI	2.0	1.0	928	$1,300	$1.40	43d	1	0.39mi
1844 Monroe Ave NW Grand Rapids, MI	2.0	1.0	1000	$2,050	$2.05	43d	1	0.56mi
1314 Portland Ave NE Grand Rapids, MI	2.0	1.0	908	$1,425	$1.57	43d	1	0.73mi
1001 Monroe Ave NW #202 Grand Rapids, MI	2.0	2.0	1333	$2,645	$1.98	43d	1	0.78mi
1335 Hamilton Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1124	$1,395	$1.24	43d	1	0.84mi
1429 Quarry Ave NW Unit 1 Grand Rapids, MI	3.0	1.5	1200	$1,800	$1.50	43d	1	0.89mi
407 11th St NW Unit C Grand Rapids, MI	2.0	1.0	772	$1,500	$1.94	43d	1	0.93mi
733 Livingston Ave NE Grand Rapids, MI	2.0	1.0	900	$1,245	$1.38	43d	1	0.96mi
711 Clancy Ave NE Grand Rapids, MI	2.0	1.0	837	$1,345	$1.61	43d	1	0.99mi
2317 Coit Ave NE Grand Rapids, MI	2.0	1.0	1087	$1,700	$1.56	43d	1	1.05mi
818 Grand Ave NE Apt D Grand Rapids, MI	2.0	1.0	850	$1,400	$1.65	43d	1	1.07mi
1044 Muskegon Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1100	$1,800	$1.64	43d	1	1.13mi
417 6th St NW Unit 1346768P Grand Rapids, MI	2.0	1.0	742	$2,794	$3.77	43d	1	1.18mi
601 Bond Ave NW Grand Rapids, MI	1.0–2.0	1.0–2.0	853	$2,565	$3.01	43d	10	1.18mi
734 Crosby St NW Unit 1 Grand Rapids, MI	3.0	1.0	1057	$1,800	$1.70	43d	1	1.19mi
841 Houseman Ave NE Grand Rapids, MI	2.0	1.5	1128	$1,700	$1.51	43d	1	1.23mi
700 Broadway Ave NW Unit 1 Grand Rapids, MI	4.0	2.0	1450	$2,795	$1.93	43d	1	1.24mi
1004 Jennette Ave NW Grand Rapids, MI	3.0	1.0	1000	$1,025	$1.02	43d	1	1.39mi
201 Michigan St NW Grand Rapids, MI	1.0–2.0	1.0–2.0	981	$2,800	$2.85	43d	10	1.41mi
1011 Jennette Ave NW Unit 2 Grand Rapids, MI	2.0	1.0	720	$1,450	$2.01	43d	1	1.41mi
414 Benson Ave NE Grand Rapids, MI	1.0–3.0	1.0–2.0	1110	$2,673	$2.41	43d	14	1.41mi
927 Arianna St NW Grand Rapids, MI	4.0	3.0	1500	$3,000	$2.00	43d	1	1.42mi
900 Leonard St NW Grand Rapids, MI	2.0	1.0–2.0	720	$2,850	$3.96	2d	10	1.42mi
507 Eastern Ave NE #2 Grand Rapids, MI	2.0	1.0	710	$1,495	$2.11	43d	1	1.46mi

Listing history 36 events

1. 2026-05-11
   status Pending 583-char remark

   Show marketing remark (583 chars)

   Welcome to 1526 Coit! This three bed one bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level features a spacious living area, dining space, kitchen, bedroom, full bath, and laundry! The upper level offers two bedrooms! The property features a fully fenced in backyard offering privacy and a perfect space to relax in the warm summer months ahead! Conveniently located, you are just minutes from Downtown Grand Rapids, parks, schools, and more! All offers reviewed Monday, May 11 at 12PM. Schedule your showing today!

2. 2026-05-11
   status Pending 583-char remark

   Show marketing remark (583 chars)

   Welcome to 1526 Coit! This three bed one bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level features a spacious living area, dining space, kitchen, bedroom, full bath, and laundry! The upper level offers two bedrooms! The property features a fully fenced in backyard offering privacy and a perfect space to relax in the warm summer months ahead! Conveniently located, you are just minutes from Downtown Grand Rapids, parks, schools, and more! All offers reviewed Monday, May 11 at 12PM. Schedule your showing today!

3. 2026-05-11
   status Pending

   Show marketing remark (583 chars)

   Welcome to 1526 Coit! This three bed one bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level features a spacious living area, dining space, kitchen, bedroom, full bath, and laundry! The upper level offers two bedrooms! The property features a fully fenced in backyard offering privacy and a perfect space to relax in the warm summer months ahead! Conveniently located, you are just minutes from Downtown Grand Rapids, parks, schools, and more! All offers reviewed Monday, May 11 at 12PM. Schedule your showing today!

4. 2026-05-05
   listed $219,900 Active 583-char remark

   Show marketing remark (583 chars)

   Welcome to 1526 Coit! This three bed one bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level features a spacious living area, dining space, kitchen, bedroom, full bath, and laundry! The upper level offers two bedrooms! The property features a fully fenced in backyard offering privacy and a perfect space to relax in the warm summer months ahead! Conveniently located, you are just minutes from Downtown Grand Rapids, parks, schools, and more! All offers reviewed Monday, May 11 at 12PM. Schedule your showing today!

5. 2026-05-05
   listed $219,900 Active 583-char remark

   Show marketing remark (583 chars)

   Welcome to 1526 Coit! This three bed one bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level features a spacious living area, dining space, kitchen, bedroom, full bath, and laundry! The upper level offers two bedrooms! The property features a fully fenced in backyard offering privacy and a perfect space to relax in the warm summer months ahead! Conveniently located, you are just minutes from Downtown Grand Rapids, parks, schools, and more! All offers reviewed Monday, May 11 at 12PM. Schedule your showing today!

6. 2026-05-05
   listed $219,900 Active

   Show marketing remark (583 chars)

   Welcome to 1526 Coit! This three bed one bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level features a spacious living area, dining space, kitchen, bedroom, full bath, and laundry! The upper level offers two bedrooms! The property features a fully fenced in backyard offering privacy and a perfect space to relax in the warm summer months ahead! Conveniently located, you are just minutes from Downtown Grand Rapids, parks, schools, and more! All offers reviewed Monday, May 11 at 12PM. Schedule your showing today!

7. 2025-12-10
   soldstatus $1,338,031
8. 2016-02-03
   soldstatus $38,750
9. 2016-02-03
   soldstatus $38,750 Sold
10. 2015-12-19
    status Pending
11. 2015-11-06
    listed $54,900 Active
12. 2015-11-04
    listed $54,900
13. 2015-02-11
    historical
14. 2015-02-09
    historical
15. 2015-02-05
    historical
16. 2015-01-31
    historical
17. 2013-10-10
    historical
18. 2013-07-31
    listed $52,000
19. 2013-07-31
    listed $52,000
20. 2011-02-01
    historical
21. 2010-08-01
    listed $64,900
22. 2010-08-01
    listed $64,900
23. 2005-10-10
    historical
24. 2005-07-28
    listed $88,000
25. 2005-07-28
    listed $88,000
26. 1997-02-28
    soldstatus $42,000
27. 1997-02-28
    soldstatus $42,000
28. 1996-10-02
    listed $39,899
29. 1996-10-02
    listed $39,899
30. 1996-09-16
    historical
31. 1996-03-16
    listed $43,900
32. 1996-03-16
    listed $43,900
33. 1992-08-12
    soldstatus $34,500
34. 1992-08-12
    soldstatus $34,500
35. 1992-05-07
    listed $36,900
36. 1992-05-07
    listed $36,900

ⓘ 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: $1,748 · $146/mo
• Projected year-2 tax: $2,567 · $214/mo
• Expected delta: +$819/yr (+$68/mo · 46.8%)

ⓘ 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 3/10 Moderate 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: $23,388
• − Mortgage interest: −$12,318
• − Property taxes: −$1,748
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$6,397
• Taxable loss: −$1,917
• Est. tax savings @ 24.0%: +$460
• After-tax cash flow: $2,250/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): 32,426
• Household income: $74,906
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1330.0

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 (68%)
• Race & ethnicity: White 68% Black 14% Two or more races 11% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Iranian 12% Romanian 8% Italian 3%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 92% English-only · Spanish 3% Chinese 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: ▼ -324.57%
• Current HPI: 306.797
• Rent YoY: ▲ 4.55%
• 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

+495.9% since first listed

36 events — show timeline

• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-11 Pending — REALCOMP
• 2026-05-11 Pending — SW Michigan MLS
• 2026-05-05 Listed $219,900 SW Michigan MLS
• 2026-05-05 Listed $219,900 REALCOMP
• 2026-05-05 Listed $219,900 MiRealSource-MiMLS
• 2025-12-10 Sold (Public Records) $1,338,031 Public Records
• 2016-02-03 Sold (MLS) $38,750 SW Michigan MLS
• 2016-02-03 Sold (MLS) $38,750 REALCOMP
• 2015-12-19 Pending — SW Michigan MLS
• 2015-11-06 Listed $54,900 SW Michigan MLS
• 2015-11-04 Listed $54,900 REALCOMP
• 2015-02-11 Listing Removed — SW Michigan MLS
• 2015-02-09 Listing Removed — SW Michigan MLS
• 2015-02-05 Listing Removed — SW Michigan MLS
• 2015-01-31 Listing Removed — SW Michigan MLS
• 2013-10-10 Listing Removed — REALCOMP
• 2013-07-31 Listed $52,000 REALCOMP
• 2013-07-31 Listed $52,000 SW Michigan MLS
• 2011-02-01 Listing Removed — REALCOMP
• 2010-08-01 Listed $64,900 REALCOMP
• 2010-08-01 Listed $64,900 SW Michigan MLS
• 2005-10-10 Listing Removed — REALCOMP
• 2005-07-28 Listed $88,000 REALCOMP
• 2005-07-28 Listed $88,000 SW Michigan MLS
• 1997-02-28 Sold (MLS) $42,000 REALCOMP
• 1997-02-28 Sold (MLS) $42,000 SW Michigan MLS
• 1996-10-02 Listed $39,899 REALCOMP
• 1996-10-02 Listed $39,899 SW Michigan MLS
• 1996-09-16 Listing Removed — REALCOMP
• 1996-03-16 Listed $43,900 REALCOMP
• 1996-03-16 Listed $43,900 SW Michigan MLS
• 1992-08-12 Sold (MLS) $34,500 REALCOMP
• 1992-08-12 Sold (MLS) $34,500 SW Michigan MLS
• 1992-05-07 Listed $36,900 REALCOMP
• 1992-05-07 Listed $36,900 SW Michigan MLS

Property tax history

+3.8%/yr

Latest (2025): $1,748 · +2.7% YoY. Source: county tax records.