15441 Meddler Ave NE

Trufant, MI 49326

$279,900C+

4 bd · 1.0 ba · 1,008 sqft · Built 1993 · SingleFamily · Pending · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,716/mo
• Mortgage (P&I): −$1,468
• Tax + insurance: −$295
• HOA: −$0
• Vac / Maint / Mgmt: −$570
• Net cashflow: $383/mo
• Annual: $4,591/yr
• Cap rate: 7.93%
• Cash-on-cash: 5.86%
• DSCR: 1.26
• 1% rule: 0.97%
• Cash to close: $78,372

Investor read

• This is a 4-bed/1.0-bath single-family listed at $280k.
• At list price, monthly cash flow is $383 ($5k/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 $272k (3.0% below list).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $272k (3.0% below list) — sets the bar for 1% rule.
• In year one you build about $2k of equity ($2k loan paydown + $262 appreciation (0.1% local appreciation)).
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Cedar Springs Public Schools (town): math 35% / reading 48% proficiency, ranked #175 of 540 in MI (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 27 active listings in the ZIP; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 25y 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.
• At projected returns (0.1% appreciation + 3.0% rent growth), your $78k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.