1023 Cogswell St NW · Walker, MI 49544

$219,900

4 bd · 1.0 ba · 1,424 sqft · SingleFamily public records · 6 Days on market

Built 1940 0.56 ac lot Est $305k · 28% 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 +18.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated on a spacious 0.559-acre lot with a wooded backdrop, this property offers room to spread out both inside and out. Features include hardwood floors, a formal dining room, and two fireplaces that add warmth and character. The fenced backyard provides a great space for pets, play, or entertaining. An oversized two-stall garage with electricity, a large driveway, and a 24' x 30' outbuilding offer abundant storage, workshop, and hobby space. Major mechanical updates include a furnace installed in 2022 and a water heater replaced in 2020. Conveniently located near shopping, dining, and everyday amenities. Property is being sold as-is and presents an excellent opportunity for buyers looking to add their personal touches while enjoying a large lot and outstanding outbuilding space.

Key facts

• Wooded backdrop
• Large driveway
• 24 x 30 outbuilding

Tags

• WOODED BACKDROP
• FENCED BACKYARD
• TWO FIREPLACES
• OVERSIZED TWO-STALL GARAGE
• LARGE DRIVEWAY
• 24 X 30 OUTBUILDING

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water
• Home design: Ranch-style single family home; One-story layout
• Construction: Log construction; Built in 1940
• Exterior features: Lot is approximately 0.56 acres; Public water

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Fireplace; Full basement; Total of 1 room listed
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $203 ($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 $202k (8.0% below list).
• Recommended offer: $202k (8.0% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 4.1% in Walker — 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 74/100 on livability (#188 in MI, #4,765 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, health & safety F.
• Kenowa Hills Public Schools (suburban): math 33% / reading 46% proficiency, ranked #205 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kenowa Hills Middle School (math 28% / reading 44%, grade F, #269 of 493 statewide, top 56%, 623 students, 54% FRL).
• Market conditions: 25 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% 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 33% of the median local income ($74k/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.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $202,244 (8.0% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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.
4. 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.
5. 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: 0.92% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.96%
• DSCR: 1.18
• GRM: 9.1

CMA / ARV

• ARV (on-the-fly): $304,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
907 Roger St NW	0.20mi	3/1.5 (-1)	1,424 (0%)	10mo	$282,500	$198	75
938 Cogswell St NW	0.12mi	3/2.0 (-1)	1,514 (+6%)	2mo	$302,000	$199	73
920 Jones St NW	0.15mi	3/2.0 (-1)	1,383 (-3%)	17mo	$290,000	$210	65
1035 Cogswell St NW	0.07mi	3/2.0 (-1)	1,545 (+8%)	15mo	$290,000	$188	61
1817 Garfield Ave NW	0.53mi	3/1.0 (-1)	1,359 (-5%)	8mo	$305,000	$224	56
2629 Miller Ave NW	0.69mi	4/2.0	1,368 (-4%)	4mo	$325,000	$238	54
1356 Harding St NW	0.39mi	3/1.5 (-1)	1,505 (+6%)	21mo	$309,000	$205	48
2446 Hufford Ave NW	0.49mi	3/2.0 (-1)	1,344 (-6%)	20mo	$270,000	$201	42
2723 Emerson Ave NW	0.69mi	3/1.5 (-1)	1,294 (-9%)	7mo	$325,000	$251	40
2717 Valley Ave NW	0.71mi	3/1.5 (-1)	1,301 (-9%)	8mo	$301,500	$232	38
2490 Bristolwood Dr NW	0.69mi	3/1.0 (-1)	1,247 (-12%)	8mo	$283,500	$227	36
2700 Cornelia Ave NW	0.60mi	4/2.0	1,614 (+13%)	14mo	$345,000	$214	34

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: -10.1%
• Equity multiple: 0.63×
• Total profit: $-22,732
• Equity at exit: $32,788

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-3,311
• 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 49544

• Home prices YoY: -28.8%
• Active inventory: 25
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,022 high
• Mortgage (P&I): −$1,153
• Tax from tax record: −$150 /mo · $1,796/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $203

Break-even live

Break-even rent $1,765

Max offer price $219,900

Occupancy floor 85%

Sensitivity live

Price	-10% $328	-5% $266	+0% $203	+5% $141	+10% $79
Rent	-10% $44	-5% $123	+0% $203	+5% $283	+10% $363
Rate	-1.0pp $314	-0.5pp $259	base $203	+0.5pp $146	+1.0pp $88

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 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
873 McCarty St NW Grand Rapids, MI	3.0	2.0	1492	$2,100	$1.41	4d	1	0.47mi
1756 Tamarack Ave NW Grand Rapids, MI	3.0	2.0	1700	$2,195	$1.29	45d	1	0.56mi
927 Arianna St NW Grand Rapids, MI	4.0	3.0	1500	$3,000	$2.00	45d	1	1.10mi
1429 Quarry Ave NW Unit 1 Grand Rapids, MI	3.0	1.5	1200	$1,800	$1.50	45d	1	1.23mi
734 Crosby St NW Unit 1 Grand Rapids, MI	3.0	1.0	1057	$1,800	$1.70	45d	1	1.25mi
1335 Hamilton Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1124	$1,395	$1.24	45d	1	1.35mi
523 Crosby St NW Grand Rapids, MI	5.0	2.0	1701	$2,200	$1.29	45d	1	1.37mi

Listing history 5 events

1. 2026-06-21
   days on market $219,900 Active 6 DOM
2. 2026-06-18
   days on market $219,900 Active 3 DOM
3. 2026-06-17
   days on market $219,900 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark

   Show marketing remark (793 chars)

   Situated on a spacious 0.559-acre lot with a wooded backdrop, this property offers room to spread out both inside and out. Features include hardwood floors, a formal dining room, and two fireplaces that add warmth and character. The fenced backyard provides a great space for pets, play, or entertaining. An oversized two-stall garage with electricity, a large driveway, and a 24' x 30' outbuilding offer abundant storage, workshop, and hobby space. Major mechanical updates include a furnace installed in 2022 and a water heater replaced in 2020. Conveniently located near shopping, dining, and everyday amenities. Property is being sold as-is and presents an excellent opportunity for buyers looking to add their personal touches while enjoying a large lot and outstanding outbuilding space.

5. 2026-06-15
   listed $219,900 Active 1 DOM

   Show marketing remark (793 chars)

   Situated on a spacious 0.559-acre lot with a wooded backdrop, this property offers room to spread out both inside and out. Features include hardwood floors, a formal dining room, and two fireplaces that add warmth and character. The fenced backyard provides a great space for pets, play, or entertaining. An oversized two-stall garage with electricity, a large driveway, and a 24' x 30' outbuilding offer abundant storage, workshop, and hobby space. Major mechanical updates include a furnace installed in 2022 and a water heater replaced in 2020. Conveniently located near shopping, dining, and everyday amenities. Property is being sold as-is and presents an excellent opportunity for buyers looking to add their personal touches while enjoying a large lot and outstanding outbuilding space.

ⓘ 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: $1,796 · $150/mo
• Projected year-2 tax: $2,591 · $216/mo
• Expected delta: +$795/yr (+$66/mo · 44.3%)

ⓘ 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 ≥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: $24,269
• − Mortgage interest: −$12,318
• − Property taxes: −$1,796
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,942
• − Management: −$1,942
• − Depreciation: −$6,397
• Taxable loss: −$1,224
• Est. tax savings @ 24.0%: +$294
• After-tax cash flow: $2,733/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: Kenowa Hills Public Schools
• NCES district ID: 2620280
• Math proficiency: 33% ▬ 0.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,387
• Composite: 34.36/100
• National rank: #5221
• State rank: #205 of 540 in MI

Livability — Walker

• Score: 74/100
• State rank: #188
• US rank: #4765

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walker, MI
• County: Kent County · 533,805 people
• City population: 33,350
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 9,631
• Household income: $74,390
• Rent vs Own: 35.0% rent · 65.0% own
• Severe rent burden: 313.0

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 (78%)
• Race & ethnicity: White 78% Hispanic / Latino 10% Two or more races 10% Asian 3% Black 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 15% Romanian 10% Lithuanian 2%
• Foreign-born: 6% · Canada, Vietnam
• Languages at home: 91% English-only · Spanish 4% Arabic 2% Other Asian/Pacific 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: ▼ -110.30%
• Current HPI: 273.0015
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-15 Listed $219,900 REALCOMP
• 2026-06-15 Listed $219,900 MiRealSource-MiMLS
• 2026-06-15 Listed $219,900 SW Michigan MLS

Property tax history

+3.5%/yr

Latest (2025): $1,796 · +2.6% YoY. Source: county tax records.