1559 Forrest Ave NE · Grand Rapids, MI 49505

$289,900

7 bd · 2.0 ba · 2,588 sqft · SingleFamily public records · 3 Days on market

Built 1900 5,227 sqft lot ↓ 42% since listing

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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 +11.4/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• 1% rule +3.4/10.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent Investment or Owner-Occupant Opportunity in Creston Heights! This well-located duplex offers an outstanding opportunity for both investors and owner-occupants. Situated in the desirable Creston Heights neighborhood, it's adjacent to the city high/middle school and just one block from Cafe Mamo, Lucy's and Quinn & Tuite's Irish Pub, and several other popular restaurants and amenities. Unit 1: 3 bedrooms, 1 full bathroom - currently vacant and previously rented for $1,495/month, making it ideal for owner occupancy or immediate leasing. Unit 2: 4 bedrooms, 1 full bathroom - currently leased through the end of August at $1,695/month. Recent updates include a new furnace in Unit 2 and a new hot water heater in Unit 1, providing added value and peace of mind. Whether you're looking to live in one unit while generating rental income from the other or add a solid property to your investment portfolio, this duplex is a fantastic opportunity.

Key facts

• 5,227 sq ft lot
• Built 1900
• Listed 3 days

Tags

• CRESTON HEIGHTS NEIGHBORHOOD
• ONE BLOCK FROM CAFE MAMO
• NEW FURNACE IN UNIT 2
• NEW HOT WATER HEATER IN UNIT 1

Property features AI

Finance

• Other: Lot approximately 50 x 100 (0.12 acre); Zoning described as Other
• Financial info: Annual tax amount listed

Exterior

• Parking: No dedicated parking listed
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable connected; Sewer available
• Home design: Residential income property (multi-family)
• Construction: Vinyl siding; Composition roof
• Exterior features: Publicly maintained road access

Interior

• Kitchen: Deck/Patio access from each unit
• Bedrooms: One unit with 4 bedrooms (second floor); One unit with 3 bedrooms (first floor)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Full basement
• Laundry & utility: Washer hookup in each unit; Gas dryer hookup in each unit

What this means for you Summary

Snapshot

• This is a 7-bed/2.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $272k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (15.6% below list).
• Recommended offer: $245k (15.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.5% in Grand Rapids — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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); 149 active listings in the ZIP; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 39% 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 $9k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $182k; list at $290k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $244,553 (15.6% 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. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.84% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.47%
• DSCR: 0.93
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.9%
• Equity multiple: 0.39×
• Total profit: $-49,363
• Equity at exit: $43,225

10-year hold

• IRR: -6.2%
• Equity multiple: 0.58×
• Total profit: $-34,493
• Equity at exit: $25,065

Cash invested: $81,172 (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: 149
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,446 medium
• Mortgage (P&I): −$1,520
• Tax from tax record: −$390 /mo · $4,680/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-99

Break-even live

Break-even rent $2,571

Max offer price $272,388

Occupancy floor 99%

Sensitivity live

Price	-10% $65	-5% $-17	+0% $-99	+5% $-181	+10% $-263
Rent	-10% $-292	-5% $-196	+0% $-99	+5% $-3	+10% $94
Rate	-1.0pp $47	-0.5pp $-25	base $-99	+0.5pp $-174	+1.0pp $-251

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: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-21
   days on market $289,900 Active 3 DOM
2. 2026-06-18
   remarks 695-char remark

   Show marketing remark (962 chars)

   Excellent Investment or Owner-Occupant Opportunity in Creston Heights! This well-located duplex offers an outstanding opportunity for both investors and owner-occupants. Situated in the desirable Creston Heights neighborhood, it's adjacent to the city high/middle school and just one block from Cafe Mamo, Lucy's and Quinn & Tuite's Irish Pub, and several other popular restaurants and amenities. Unit 1: 3 bedrooms, 1 full bathroom - currently vacant and previously rented for $1,495/month, making it ideal for owner occupancy or immediate leasing. Unit 2: 4 bedrooms, 1 full bathroom - currently leased through the end of August at $1,695/month. Recent updates include a new furnace in Unit 2 and a new hot water heater in Unit 1, providing added value and peace of mind. Whether you're looking to live in one unit while generating rental income from the other or add a solid property to your investment portfolio, this duplex is a fantastic opportunity.

3. 2026-06-18
   listed $289,900 Active 1 DOM

   Show marketing remark (962 chars)

   Excellent Investment or Owner-Occupant Opportunity in Creston Heights! This well-located duplex offers an outstanding opportunity for both investors and owner-occupants. Situated in the desirable Creston Heights neighborhood, it's adjacent to the city high/middle school and just one block from Cafe Mamo, Lucy's and Quinn & Tuite's Irish Pub, and several other popular restaurants and amenities. Unit 1: 3 bedrooms, 1 full bathroom - currently vacant and previously rented for $1,495/month, making it ideal for owner occupancy or immediate leasing. Unit 2: 4 bedrooms, 1 full bathroom - currently leased through the end of August at $1,695/month. Recent updates include a new furnace in Unit 2 and a new hot water heater in Unit 1, providing added value and peace of mind. Whether you're looking to live in one unit while generating rental income from the other or add a solid property to your investment portfolio, this duplex is a fantastic opportunity.

ⓘ 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: $4,680 · $390/mo
• Projected year-2 tax: $4,680 · $390/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 15 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: $29,346
• − Mortgage interest: −$16,239
• − Property taxes: −$4,680
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,348
• − Management: −$2,348
• − Depreciation: −$8,433
• Taxable loss: −$6,151
• Est. tax savings @ 24.0%: +$1,476
• After-tax cash flow: $287/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

-41.7% since first listed

4 events — show timeline

• 2026-06-18 Listed $289,900 MiRealSource-MiMLS
• 2026-06-18 Listed $289,900 REALCOMP
• 2020-07-08 Sold (Public Records) $182,000 Public Records
• 2008-05-13 Sold (Public Records) $497,485 Public Records

Property tax history

+6.6%/yr

Latest (2025): $4,680 · +2.7% YoY. Source: county tax records.