5656 Highbury Dr SE · Forest Hills, MI 49301

$575,000

4 bd · 3.5 ba · 2,648 sqft · Condo · 2 Days on market

Built 2002 $52/mo HOA · 1% of rent

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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 +12.1/30.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• Livability +3.8/5.0
• DSCR +3.6/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to desirable Clements Mill neighborhood, within the acclaimed Forest Hills Schools District. This home blends modern comforts with a resort-like atmosphere in a prime location! The open floor plan, large windows, and vaulted ceilings create harmonious flow, allowing natural light and water views throughout. Conveniently located between Grand Rapids and Ada, with easy access to highways, shops, restaurants, and parks. Inside, you'll find wood floors, a cozy living room with a gas fireplace, and an open kitchen with stainless steel appliances, including a new induction range. The four-season porch offers year-round relaxation and views. Upstairs, the primary suite offers walk-in closet, spacious bathroom w/ double sinks, plus two additional bedrooms, 2nd full bath, and convenient 2nd-floor laundry! The walk-out lower level features a kitchenette, 4th bedroom/office, 3rd full bathroom, and family room with sliders to the waterside patio. Fishing, swimming, paddle boarding -from your private beach, plus a 3-car garage, sprinkler system, and deck - this home truly has it all! Proximity to Schools: Forest Hills Central MS and HS are located across the road, while Ada Christian School is just a block away. Updates: - Updated main floor bath and new paint on main level (2026) - New light fixtures and ceiling fans (2025) - New stainless steel induction range (2024) - New tile in foyer - (2024) - New tile in primary bath (2026) - New washing machine - (2025) - New air conditioning unit - (2024) - Newly painted bathrooms - (2025) - High-efficiency furnace (2019) - Dishwasher (2020) - Roof (2017, according to previous owners) - Flooring updated (2014, according to previous owners)

Key facts

• Large windows
• Open floor plan
• Natural light

Tags

• CLEMENTS MILL NEIGHBORHOOD
• FOREST HILLS SCHOOLS DISTRICT
• OPEN FLOOR PLAN
• LARGE WINDOWS
• VAULTED CEILINGS
• NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath condo listed at $575k.

Deal economics

• At list price, monthly cash flow is $-129 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $552k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $450k (21.7% below list).
• Recommended offer: $450k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.8% in Forest Hills — 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 76/100 on livability (#139 in MI, #3,404 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: cost of living C-, amenities F, commute F.
• Forest Hills Public Schools (suburban): math 65% / reading 74% proficiency, ranked #11 of 540 in MI (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Ada Elementary School (math 87% / reading 77%, grade A+, #12 of 1,397 statewide, top 1%, 331 students, 13% FRL); Central Middle School (math 68% / reading 82%, grade A, #8 of 493 statewide, top 3%, 526 students, 12% FRL); Central High School (math 68% / reading 84%, grade A-, #17 of 713 statewide, top 2%, 1,053 students, 14% FRL) — zoned schools at 13% FRL track the district average.
• Market conditions: 121 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $17k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 17y 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 $459k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $450,000 (21.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 0.78% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.96%
• DSCR: 0.96
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.9%
• Equity multiple: 0.37×
• Total profit: $-101,521
• Equity at exit: $85,734

10-year hold

• IRR: -10.1%
• Equity multiple: 0.38×
• Total profit: $-99,455
• Equity at exit: $49,715

Cash invested: $161,000 (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 49301

• Home prices YoY: -30.8%
• Active inventory: 121
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $4,500 medium
• Mortgage (P&I): −$3,015
• Tax from tax record: −$377 /mo · $4,528/yr
• Insurance: −$240
• HOA: −$52
• Vacancy / Maint / Mgmt: −$945
• Net cashflow: $-129

Break-even live

Break-even rent $4,664

Max offer price $552,155

Occupancy floor 98%

Sensitivity live

Price	-10% $196	-5% $33	+0% $-129	+5% $-292	+10% $-455
Rent	-10% $-485	-5% $-307	+0% $-129	+5% $48	+10% $226
Rate	-1.0pp $160	-0.5pp $17	base $-129	+0.5pp $-278	+1.0pp $-430

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
648 S Whitman Ct SE Ada, MI	5.0	3.5	3708	$4,500	$1.21	5d	1	0.13mi

HOA detail condo

• Monthly dues: $52 · $624/yr
• Likely covers: watergas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-04-17
   status Pending 1718-char remark

   Show marketing remark (998 chars)

   Welcome home to desirable Clements Mill neighborhood, within the acclaimed Forest Hills Schools District. This home blends modern comforts with a resort-like atmosphere in a prime location! The open floor plan, large windows, and vaulted ceilings create harmonious flow, allowing natural light and water views throughout. Conveniently located between Grand Rapids and Ada, with easy access to highways, shops, restaurants, and parks. Inside, you'll find wood floors, a cozy living room with a gas fireplace, and an open kitchen with stainless steel appliances, including a new induction range. The four-season porch offers year-round relaxation and views. Upstairs, the primary suite offers walk-in closet, spacious bathroom w/ double sinks, plus two additional bedrooms, 2nd full bath, and convenient 2nd-floor laundry! The walk-out lower level features a kitchenette, 4th bedroom/office, 3rd full bathroom, and family room with sliders to the waterside patio. Fishing, swimming, paddle boarding -

2. 2026-04-17
   status Pending 998-char remark

   Show marketing remark (998 chars)

   Welcome home to desirable Clements Mill neighborhood, within the acclaimed Forest Hills Schools District. This home blends modern comforts with a resort-like atmosphere in a prime location! The open floor plan, large windows, and vaulted ceilings create harmonious flow, allowing natural light and water views throughout. Conveniently located between Grand Rapids and Ada, with easy access to highways, shops, restaurants, and parks. Inside, you'll find wood floors, a cozy living room with a gas fireplace, and an open kitchen with stainless steel appliances, including a new induction range. The four-season porch offers year-round relaxation and views. Upstairs, the primary suite offers walk-in closet, spacious bathroom w/ double sinks, plus two additional bedrooms, 2nd full bath, and convenient 2nd-floor laundry! The walk-out lower level features a kitchenette, 4th bedroom/office, 3rd full bathroom, and family room with sliders to the waterside patio. Fishing, swimming, paddle boarding -

3. 2026-04-17
   status Pending

   Show marketing remark (998 chars)

   Welcome home to desirable Clements Mill neighborhood, within the acclaimed Forest Hills Schools District. This home blends modern comforts with a resort-like atmosphere in a prime location! The open floor plan, large windows, and vaulted ceilings create harmonious flow, allowing natural light and water views throughout. Conveniently located between Grand Rapids and Ada, with easy access to highways, shops, restaurants, and parks. Inside, you'll find wood floors, a cozy living room with a gas fireplace, and an open kitchen with stainless steel appliances, including a new induction range. The four-season porch offers year-round relaxation and views. Upstairs, the primary suite offers walk-in closet, spacious bathroom w/ double sinks, plus two additional bedrooms, 2nd full bath, and convenient 2nd-floor laundry! The walk-out lower level features a kitchenette, 4th bedroom/office, 3rd full bathroom, and family room with sliders to the waterside patio. Fishing, swimming, paddle boarding -

4. 2026-04-15
   listed $575,000 Active 1718-char remark

   Show marketing remark (998 chars)

   Welcome home to desirable Clements Mill neighborhood, within the acclaimed Forest Hills Schools District. This home blends modern comforts with a resort-like atmosphere in a prime location! The open floor plan, large windows, and vaulted ceilings create harmonious flow, allowing natural light and water views throughout. Conveniently located between Grand Rapids and Ada, with easy access to highways, shops, restaurants, and parks. Inside, you'll find wood floors, a cozy living room with a gas fireplace, and an open kitchen with stainless steel appliances, including a new induction range. The four-season porch offers year-round relaxation and views. Upstairs, the primary suite offers walk-in closet, spacious bathroom w/ double sinks, plus two additional bedrooms, 2nd full bath, and convenient 2nd-floor laundry! The walk-out lower level features a kitchenette, 4th bedroom/office, 3rd full bathroom, and family room with sliders to the waterside patio. Fishing, swimming, paddle boarding -

5. 2026-04-15
   listed $575,000 Active 998-char remark

   Show marketing remark (998 chars)

   Welcome home to desirable Clements Mill neighborhood, within the acclaimed Forest Hills Schools District. This home blends modern comforts with a resort-like atmosphere in a prime location! The open floor plan, large windows, and vaulted ceilings create harmonious flow, allowing natural light and water views throughout. Conveniently located between Grand Rapids and Ada, with easy access to highways, shops, restaurants, and parks. Inside, you'll find wood floors, a cozy living room with a gas fireplace, and an open kitchen with stainless steel appliances, including a new induction range. The four-season porch offers year-round relaxation and views. Upstairs, the primary suite offers walk-in closet, spacious bathroom w/ double sinks, plus two additional bedrooms, 2nd full bath, and convenient 2nd-floor laundry! The walk-out lower level features a kitchenette, 4th bedroom/office, 3rd full bathroom, and family room with sliders to the waterside patio. Fishing, swimming, paddle boarding -

6. 2026-04-15
   listed $575,000 Active

   Show marketing remark (998 chars)

   Welcome home to desirable Clements Mill neighborhood, within the acclaimed Forest Hills Schools District. This home blends modern comforts with a resort-like atmosphere in a prime location! The open floor plan, large windows, and vaulted ceilings create harmonious flow, allowing natural light and water views throughout. Conveniently located between Grand Rapids and Ada, with easy access to highways, shops, restaurants, and parks. Inside, you'll find wood floors, a cozy living room with a gas fireplace, and an open kitchen with stainless steel appliances, including a new induction range. The four-season porch offers year-round relaxation and views. Upstairs, the primary suite offers walk-in closet, spacious bathroom w/ double sinks, plus two additional bedrooms, 2nd full bath, and convenient 2nd-floor laundry! The walk-out lower level features a kitchenette, 4th bedroom/office, 3rd full bathroom, and family room with sliders to the waterside patio. Fishing, swimming, paddle boarding -

7. 2025-10-24
   historical
8. 2025-10-23
   listed $555,000 Active
9. 2025-10-23
   listed $555,000 Active
10. 2021-11-30
    soldstatus $459,000
11. 2021-11-24
    soldstatus $459,900 Sold
12. 2021-11-24
    soldstatus $459,900 Sold
13. 2021-10-09
    status Pending
14. 2021-10-09
    status Pending
15. 2021-08-17
    price $469,000
16. 2021-08-17
    price $469,000
17. 2021-07-27
    listed $488,900 Active
18. 2021-07-27
    listed $488,900 Active
19. 2021-07-27
    listed $469,000
20. 2014-07-01
    soldstatus $305,500
21. 2014-06-12
    soldstatus $305,500
22. 2014-06-12
    soldstatus $305,500
23. 2014-02-11
    listed $293,800
24. 2014-02-11
    listed $293,800
25. 2010-01-15
    soldstatus $259,000
26. 2010-01-12
    soldstatus $259,000
27. 2010-01-12
    soldstatus $259,000
28. 2009-09-02
    listed $264,900
29. 2009-09-02
    listed $264,900

ⓘ 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: $4,528 · $377/mo
• Projected year-2 tax: $6,692 · $558/mo
• Expected delta: +$2,163/yr (+$180/mo · 47.8%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,000
• − Mortgage interest: −$32,209
• − Property taxes: −$4,528
• − Insurance: −$2,875
• − Repairs & maintenance: −$4,320
• − Management: −$4,320
• − HOA: −$624
• − Depreciation: −$16,727
• Taxable loss: −$11,604
• Est. tax savings @ 24.0%: +$2,785
• After-tax cash flow: $1,233/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: Forest Hills Public Schools
• NCES district ID: 2614610
• Math proficiency: 65% ▼ -3.00%
• Reading proficiency: 74% ▲ 1.00%
• Median HH income: $95,067
• Composite: 63.23/100
• National rank: #632
• State rank: #11 of 540 in MI

Livability — Forest Hills

• Score: 76/100
• State rank: #139
• US rank: #3404

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Forest Hills, MI
• City population: 53,921
• Population (ZIP): 20,492

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 (86%)
• Race & ethnicity: White 86% Two or more races 6% Hispanic / Latino 5% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 16% Romanian 6% Italian 4%
• Foreign-born: 5% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 4% Korean 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: ▼ -118.11%
• Current HPI: 264.8246
• Rent YoY: —
• Metro: —
• 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

+117.1% since first listed

29 events — show timeline

• 2026-04-17 Pending — REALCOMP
• 2026-04-17 Pending — MiRealSource-MiMLS
• 2026-04-17 Pending — SW Michigan MLS
• 2026-04-15 Listed $575,000 REALCOMP
• 2026-04-15 Listed $575,000 SW Michigan MLS
• 2026-04-15 Listed $575,000 MiRealSource-MiMLS
• 2025-10-24 Listing Removed — MiRealSource-MiMLS
• 2025-10-23 Listed $555,000 REALCOMP
• 2025-10-23 Listed $555,000 MiRealSource-MiMLS
• 2021-11-30 Sold (Public Records) $459,000 Public Records
• 2021-11-24 Sold (MLS) $459,900 SW Michigan MLS
• 2021-11-24 Sold (MLS) $459,900 REALCOMP
• 2021-10-09 Pending — REALCOMP
• 2021-10-09 Pending — SW Michigan MLS
• 2021-08-17 Price Changed $469,000 REALCOMP
• 2021-08-17 Price Changed $469,000 SW Michigan MLS
• 2021-07-27 Listed $469,000 MiRealSource-MiMLS
• 2021-07-27 Listed $488,900 SW Michigan MLS
• 2021-07-27 Listed $488,900 REALCOMP
• 2014-07-01 Sold (Public Records) $305,500 Public Records
• 2014-06-12 Sold (MLS) $305,500 REALCOMP
• 2014-06-12 Sold (MLS) $305,500 SW Michigan MLS
• 2014-02-11 Listed $293,800 REALCOMP
• 2014-02-11 Listed $293,800 SW Michigan MLS
• 2010-01-15 Sold (Public Records) $259,000 Public Records
• 2010-01-12 Sold (MLS) $259,000 REALCOMP
• 2010-01-12 Sold (MLS) $259,000 SW Michigan MLS
• 2009-09-02 Listed $264,900 REALCOMP
• 2009-09-02 Listed $264,900 SW Michigan MLS

Property tax history

+0.8%/yr

Latest (2025): $4,528 · -33.4% YoY. Source: county tax records.