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4874 Ausable River Dr #7
D+ Composite 46.62
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 +10.8/30.0
  • ARV discount +10.3/15.0
  • Schools +5.5/10.0
  • 1% rule +5.2/10.0
  • Condition / age +4.0/5.0
  • Rent growth +3.9/5.0
  • Livability +3.9/5.0
  • DSCR +3.1/10.0
  • Appreciation +0.0/10.0

$232,500

4874 Ausable River Dr #7 · Wyoming, MI 49418
2 bd · 2.0 ba · 1,178 sqft · Condo · 93 Days on market
Built 2006 Good condition Garage $197/sqft · 6% below area Est $248k · 6% under $375/mo HOA · 16% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

Welcome to this well-kept condo in The Ravines at Rivertown Park, conveniently located near shopping, restaurants, parks, and major highways in Wyoming, Michigan. This 2-bedroom, 2-bath home offers a comfortable layout with bright living spaces, large windows, and an open kitchen with plenty of cabinet and counter space. The upper level includes a spacious living room, dining area, and an open layout that gives the home a bright and comfortable feel. The primary bedroom features its own full bathroom, while the second bedroom and bath provide extra room for guests, a home office, or everyday living. Additional features include an attached garage, in-unit laundry, neutral finishes throughout, and low-maintenance condo living. Located in the Grandville School District with convenient access to everything West Michigan has to offer.

Key facts

  • Large windows
  • Well-kept condo
  • Dining area

Tags

WELL-KEPT CONDOOPEN KITCHENLARGE WINDOWSSPACIOUS LIVING ROOMDINING AREAIN-UNIT LAUNDRY

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath condo listed at $232k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-107 ($-1k/yr) — negative.
  • To cash-flow at today's rent, offer at most $217k (6.7% below list).
  • Meets the 1% rule at list price ($2k rent vs $232k).
  • Recommended offer: $212k (9.0% below list) — sets the bar for market timing.
  • Cap rate 5.7% vs local median 3.7% in Wyoming — 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 77/100 on livability (#126 in MI, #3,095 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D-, amenities F, commute F.
  • Grandville Public Schools (suburban): math 49% / reading 61% proficiency, ranked #70 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
  • Zoned schools: Grandville Middle School (math 44% / reading 69%, grade B, #70 of 493 statewide, top 14%, 830 students, 36% FRL).
  • Market conditions: Rents rising fast (+5.5%/yr); 235 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
  • This rent runs 34% of the median local income ($85k/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

  • It's been on market 93 days — a 9% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
  • 15 sale attempts since 11y 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.
Recommended offer $211,575 (9.0% 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. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
  3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  4. 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?
  5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
  8. Crime grade is D 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?
  9. 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?
  10. 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.
  11. 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.
  12. 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
1.02%
Cap rate
5.74%
Cash-on-cash
-1.97%
DSCR
0.91
GRM
8.2

CMA / ARV

ARV (median comp)
$247,839
List price
$232,500
Delta
-6.19%
Verdict
FAIR
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
4868 Ausable River Dr 0.01mi 3/2.0 (+1) 1,184 (+0%) 7mo $240,000 $203 88
4866 Ausable River Dr SW 0.10mi 2/2.0 1,130 (-4%) 1mo $245,000 $217 88
4881 Rapid River Ave Unit SW 0.02mi 2/2.0 1,066 (-10%) 4mo $235,000 $220 80
4881 Rapid River Ave Unit SW 0.03mi 2/2.0 1,066 (-10%) 4mo $235,000 $220 80
3476 River Run St SW 0.05mi 2/2.5 1,384 (+18%) 3mo $275,000 $199 68
3508 River Run St 0.05mi 2/2.5 1,384 (+18%) 4mo $237,500 $172 67
3403 Kings River St SW 0.14mi 2/2.5 1,440 (+22%) 2mo $265,000 $184 64
3891 56th St SW 1.00mi 3/2.0 (+1) 1,150 (-2%) 3mo $300,000 $261 54
3700 Cheyenne Dr SW 1.37mi 3/1.5 (+1) 1,216 (+3%) 8mo $270,000 $222 46
4743 Quebec Ave SW 0.96mi 3/2.0 (+1) 1,056 (-10%) 3mo $90,000 $85 40
4305 40th St SW 1.47mi 3/1.0 (+1) 1,056 (-10%) 6mo $271,000 $257 34
3955 Navaho St SW 1.43mi 3/1.0 (+1) 988 (-16%) 8mo $250,000 $253 24

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 · 5.48% rent growth · sell at horizon

5-year hold
IRR
-16.0%
Equity multiple
0.41×
Total profit
$-38,160
Equity at exit
$34,667
10-year hold
IRR
-3.0%
Equity multiple
0.77×
Total profit
$-14,730
Equity at exit
$20,102

Cash invested: $65,100 (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.

Active competition Active MLS

For sale now
0 active · 1 under contract

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 49418

Rents YoY
5.5%
Active inventory
235
Price-to-rent
8.2×

Monthly cashflow live

Estimated rent
$2,373 high interval (Pro) →
Mortgage (P&I)
$1,219
Tax est. 1.5%
$291 /mo · $3,488/yr
Insurance
$97
HOA
$375
Vacancy / Maint / Mgmt
$498
Net cashflow
$-107

Break-even live

Break-even rent $2,509
Max offer price $217,007
Occupancy floor 100%

Sensitivity live

Price -10% $54 -5% $-27 +0% $-107 +5% $-187 +10% $-268
Rent -10% $-295 -5% $-201 +0% $-107 +5% $-13 +10% $80
Rate -1.0pp $10 -0.5pp $-48 base $-107 +0.5pp $-167 +1.0pp $-229

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
$58,125
Closing costs
$6,975
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 13 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
3479 Crystal River St Wyoming, MI 3.0 2.5 1498 $2,762 $1.84 15d 2 0.10mi
4702 Rivertown Commons Dr SW Grandville, MI 1.0–3.0 1.0–2.0 981 $2,166 $2.21 15d 39 0.55mi
4528 Halifax Ave SW Wyoming, MI 3.0 1.0–2.0 1200 $1,599 $1.33 15d 1 1.14mi
5840 Fox Grape Ave Unit 1539843P Wyoming, MI 2.0 2.0 1345 $2,801 $2.08 52d 1 1.26mi
5840 Fox Grape Ave Unit 1539809P Wyoming, MI 2.0 2.0 1399 $2,768 $1.98 68d 1 1.26mi
3751 Reserve Dr SW Wyoming, MI 2.0 2.0 1425 $2,500 $1.75 15d 1 1.29mi
5883 Cabernet Ave Unit 1539808P Wyoming, MI 2.0 2.0 1291 $2,055 $1.59 52d 1 1.31mi
5859 Zinfandel Ave Unit 1539840P Wyoming, MI 2.0 2.0 1345 $2,192 $1.63 59d 1 1.32mi
5898 Grenache Ave Unit 1541450P Wyoming, MI 3.0 3.0 1194 $5,690 $4.77 63d 1 1.36mi
3982 Malbec Dr Unit 1364140P Wyoming, MI 2.0 2.0 1453 $1,970 $1.36 68d 1 1.36mi
3938 Pinot Dr Unit 1364148P Wyoming, MI 2.0 2.0 1345 $3,176 $2.36 52d 1 1.38mi
4415 Heritage Ct SW Grandville, MI 2.0 1.0 805 $1,395 $1.73 15d 1 1.43mi
2331 Cadotte DR Wyoming, MI 2.0 2.0 1140 $2,130 $1.87 15d 2 1.47mi

Property features AI

Finance

HOA & community
Monthly association fee of $375Association covers snow removal and lawn/yard careHas an association

Exterior

Parking
Attached garage (1 space)
Utilities
Natural gas water heater
Home design
Residential condominiumBuilt in 2006
Construction
Brick and vinyl siding exteriorAsphalt roof
Exterior features
Public water

Interior

Kitchen
Kitchen (15 x 10)
Bedrooms
Primary bedroom (14 x 11)Second bedroom (10 x 11)
Bathrooms
Two full bathroomsPrimary bathroom (11 x 8)Bathroom 1 (8 x 5)
Heating & cooling
Forced air heatingHas cooling
Interior features
Five total roomsBasement (other type)

HOA detail $375/mo · $4,500/yr condo

Assessments
None detected in remarks — confirm with the listing agent.

Listing history 50 events

  1. 2026-08-08
    days on market $232,500 Active 93 DOM
  2. 2026-08-07
    days on market $232,500 Active 92 DOM
  3. 2026-08-06
    days on market $232,500 Active 91 DOM
  4. 2026-08-05
    days on market $232,500 Active 90 DOM
  5. 2026-08-04
    days on market $232,500 Active 89 DOM
  6. 2026-08-03
    days on market $232,500 Active 88 DOM
  7. 2026-07-31
    days on market $232,500 Active 85 DOM
  8. 2026-07-30
    days on market $232,500 Active 83 DOM
  9. 2026-07-28
    days on market $232,500 Active 82 DOM
  10. 2026-07-26
    days on market $232,500 Active 80 DOM
  11. 2026-07-25
    days on market $232,500 Active 79 DOM
  12. 2026-07-24
    days on market $232,500 Active 78 DOM
  13. 2026-07-23
    days on market $232,500 Active 77 DOM
  14. 2026-07-22
    days on market $232,500 Active 76 DOM
  15. 2026-07-21
    days on market $232,500 Active 75 DOM
  16. 2026-07-18
    days on market $232,500 Active 72 DOM
  17. 2026-07-16
    days on market $232,500 Active 70 DOM
  18. 2026-07-16
    pricedays on market $232,500 Active 69 DOM
  19. 2026-07-14
    days on market $235,000 Active 68 DOM
  20. 2026-07-13
    days on market $235,000 Active 67 DOM
  21. 2026-07-12
    days on market $235,000 Active 66 DOM
  22. 2026-07-11
    days on market $235,000 Active 65 DOM
  23. 2026-07-10
    days on market $235,000 Active 64 DOM
  24. 2026-07-09
    days on market $235,000 Active 63 DOM
  25. 2026-07-07
    days on market $235,000 Active 61 DOM
  26. 2026-07-06
    days on market $235,000 Active 60 DOM
  27. 2026-07-05
    days on market $235,000 Active 59 DOM
  28. 2026-07-03
    days on market $235,000 Active 57 DOM
  29. 2026-07-02
    days on market $235,000 Active 56 DOM
  30. 2026-07-01
    days on market $235,000 Active 55 DOM
  31. 2026-06-30
    days on market $235,000 Active 54 DOM
  32. 2026-06-29
    days on market $235,000 Active 53 DOM
  33. 2026-06-28
    days on market $235,000 Active 52 DOM
  34. 2026-06-28
    days on market $235,000 Active 51 DOM
  35. 2026-06-27
    days on market $235,000 Active 50 DOM
  36. 2026-06-25
    days on market $235,000 Active 48 DOM
  37. 2026-06-23
    days on market $235,000 Active 46 DOM
  38. 2026-06-22
    days on market $235,000 Active 45 DOM
  39. 2026-06-18
    days on market $235,000 Active 42 DOM
  40. 2026-06-17
    days on market $235,000 Active 41 DOM
  41. 2026-06-16
    days on market $235,000 Active 40 DOM
  42. 2026-06-15
    days on market $235,000 Active 39 DOM
  43. 2026-06-14
    days on market $235,000 Active 37 DOM
  44. 2026-06-13
    pricedays on market $235,000 Active 36 DOM
  45. 2026-06-10
    days on market $237,500 Active 34 DOM
    Show marketing remark (841 chars)

    Welcome to this well-kept condo in The Ravines at Rivertown Park, conveniently located near shopping, restaurants, parks, and major highways in Wyoming, Michigan. This 2-bedroom, 2-bath home offers a comfortable layout with bright living spaces, large windows, and an open kitchen with plenty of cabinet and counter space. The upper level includes a spacious living room, dining area, and an open layout that gives the home a bright and comfortable feel. The primary bedroom features its own full bathroom, while the second bedroom and bath provide extra room for guests, a home office, or everyday living. Additional features include an attached garage, in-unit laundry, neutral finishes throughout, and low-maintenance condo living. Located in the Grandville School District with convenient access to everything West Michigan has to offer.

  46. 2026-06-09
    days on market $237,500 Active 33 DOM
  47. 2026-06-08
    days on market $237,500 Active 32 DOM
  48. 2026-06-07
    days on market $237,500 Active 31 DOM
  49. 2026-06-05
    days on market $237,500 Active 28 DOM
  50. 2026-06-03
    days on market $237,500 Active 27 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 3 unhealthy d/yr today · 4 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$28,476
− Mortgage interest
−$13,024
− Property taxes
−$3,488
− Insurance
−$1,162
− Repairs & maintenance
−$2,278
− Management
−$2,278
− HOA
−$4,500
− Depreciation
−$6,764
Taxable loss
−$5,017
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$1,204
After-tax cash flow
$-81/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $5,890–$17,670 screening

This well-maintained and updated condo is move-in ready with good curb appeal and interior finishes.

Value-add opportunities

  • Both landscaping — enhances curb appeal and adds value
  • Both painting — refreshes interior and exterior
  • Resale upgrading kitchen appliances — modernizes the space and appeals to buyers

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 55/100

Zoned Schools

Elementary Grandville Grand View Elementary School C- MI #362/1,397 Nat'l #12,255/41,679 Middle Grandville Middle School B MI #70/493 Nat'l #2,304/14,009 High Grandville High School C MI #95/713 Nat'l #4,023/17,239

Schools (NCES district)

District
Grandville Public Schools
NCES district ID
2616470
Math proficiency
49% ▼ -5.00%
Reading proficiency
61% ▼ -1.00%
Median HH income
$58,935
Composite
47.74/100
National rank
#2234
State rank
#70 of 540 in MI
B Composite livability gradescore 77/100

Livability — Wyoming

Score
77/100
State rank
#126
US rank
#3095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place
Wyoming, MI
County
Kent County · 712,484 people
City population
56,117
Metro
Grand Rapids-Kentwood, MI
Population (ZIP)
31,913
Household income
$84,846
Rent vs Own
30.7% rent · 69.3% own
Severe rent burden
9% of renters

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 (79%)
Race & ethnicity
White 79% Two or more races 7% Hispanic / Latino 7% Black 5% Asian 4%
Hispanic origin (detail)
Mexican 5% Puerto Rican 1%
Common ancestry
Iranian 24% Romanian 7% Lithuanian 2%
Foreign-born
6% · Canada, Vietnam, China
Languages at home
92% English-only · Spanish 3% Vietnamese 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

Price history

+96.0% since first listed
37 events — show timeline
  • 2026-06-11 Price Changed $235,000 MiRealSource-MiMLS
  • 2026-06-10 Price Changed $235,000 REALCOMP
  • 2026-06-10 Price Changed $235,000 SW Michigan MLS
  • 2026-05-22 Price Changed $237,500 MiRealSource-MiMLS
  • 2026-05-21 Price Changed $237,500 REALCOMP
  • 2026-05-21 Price Changed $237,500 SW Michigan MLS
  • 2026-05-07 Listed $240,000 SW Michigan MLS
  • 2026-05-07 Listed $240,000 REALCOMP
  • 2026-05-07 Listed $240,000 MiRealSource-MiMLS
  • 2024-03-15 Sold (MLS) $230,000 SW Michigan MLS
  • 2024-03-15 Sold (MLS) $230,000 MiRealSource-MiMLS
  • 2024-03-15 Sold (MLS) $230,000 REALCOMP
  • 2024-01-29 Pending REALCOMP
  • 2024-01-29 Pending MiRealSource-MiMLS
  • 2024-01-29 Pending SW Michigan MLS
  • 2024-01-23 Listed $229,900 SW Michigan MLS
  • 2024-01-23 Listed $229,900 MiRealSource-MiMLS
  • 2024-01-23 Listed $229,900 REALCOMP
  • 2019-11-12 Sold (MLS) $170,000 SW Michigan MLS
  • 2019-11-12 Sold (MLS) $170,000 REALCOMP
  • 2019-10-24 Pending SW Michigan MLS
  • 2019-10-01 Listed $169,900 SW Michigan MLS
  • 2019-09-28 Listed $169,900 MiRealSource-MiMLS
  • 2019-09-28 Listed $169,900 REALCOMP
  • 2017-12-08 Sold (MLS) $162,900 SW Michigan MLS
  • 2017-12-08 Sold (MLS) $162,900 REALCOMP
  • 2017-11-01 Pending SW Michigan MLS
  • 2017-10-25 Listed $159,900 SW Michigan MLS
  • 2017-10-23 Listed $159,900 REALCOMP
  • 2017-08-03 Listing Removed SW Michigan MLS
  • 2017-08-02 Listing Removed REALCOMP
  • 2017-07-25 Listed $154,900 SW Michigan MLS
  • 2017-07-21 Listed $154,900 REALCOMP
  • 2015-09-17 Listing Removed SW Michigan MLS
  • 2015-09-16 Listing Removed REALCOMP
  • 2015-09-04 Listed $119,900 SW Michigan MLS
  • 2015-06-16 Listed $119,900 REALCOMP

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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