364 Harbortown Ct · Holland, MI 49423

$499,900

6 bd · 18.0 ba · 3,318 sqft · MultiFamily · 2 Days on market

Built 2001 Fair condition 0.29 ac lot

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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 +11.0/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Schools +3.0/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Holland investment opportunity! This cash-flowing 3-unit townhouse-style triplex is well cared for, professionally managed, and located on a quiet, low-traffic cul-de-sac. Each unit offers a private entry, attached extra-deep single-stall garage, mechanical/storage room, spacious living room, dining area with access to a 10'x10' deck, kitchen with appliances, half bath, two large bedrooms, full bath, and laundry closet with stacked washer/dryer. A solid rental property with functional layouts, garage parking, and a desirable Holland location.

Key facts

• Dining area
• Deck
• Private entry

Tags

• PRIVATE ENTRY
• MECHANICAL STORAGE ROOM
• SPACIOUS LIVING ROOM
• DINING AREA
• DECK
• KITCHEN WITH APPLIANCES

Property features AI

Finance

• Other: Total building area listed as 3,318 (unit totals indicated separately)
• Financial info: Listed as residential income / multi-family; Unit rents: one unit listed at $1,450, one at $1,500, one at $1,400

Exterior

• Parking: Paved parking with a total of 9 parking spaces
• Utilities: Public water; Public sewer (sewer connected/available); Electricity connected; Natural gas connected
• Home design: Residential income property (multi-family); Three 2-bedroom units
• Construction: Vinyl siding construction; Slab foundation
• Exterior features: Composition roof; Vinyl siding; Property sits on a level lot in a cul-de-sac; Paved roads with public maintenance; Sidewalks in the neighborhood

Interior

• Kitchen: Kitchens present in each unit (appliances not itemized)
• Bedrooms: All units are 2-bedroom
• Bathrooms: All units have 2 bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Central air conditioning; Separate heating systems for units; Decks/patios on units; Garage access for units
• Laundry & utility: Individual utility connections (electricity and natural gas connected)

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.5-bath units multifamily listed at $500k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-212 ($-3k/yr) — negative. Per door: $-71/mo.
• To cash-flow at today's rent, offer at most $469k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $410k (17.9% below list).
• Recommended offer: $410k (17.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 2.5% in Holland — 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 82/100 on livability (#46 in MI, #1,066 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F.
• Holland City School District (urban): math 26% / reading 43% proficiency, ranked #292 of 540 in MI (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.0%/yr); 257 active listings in the ZIP; solid renter incomes; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).
• At $4,105/mo this rent would consume 60% of the median local household income ($82k/yr) (locally 875% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Ottawa County population projected at +24% 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.
• 6 sale attempts since 8y 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 $410,500 (17.9% 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. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.82% ✗
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.48×
• Total profit: $-72,736
• Equity at exit: $74,537

10-year hold

• IRR: 1.5%
• Equity multiple: 1.13×
• Total profit: $18,287
• Equity at exit: $43,222

Cash invested: $139,972 (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 49423

• Rents YoY: 10.0%
• Active inventory: 257
• Price-to-rent: 30.4×

Monthly cashflow live

• Estimated rent: $4,105 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,498/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$862
• Net cashflow: $-212

Break-even live

Break-even rent $4,373

Max offer price $469,260

Occupancy floor —

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1.5	$4,104
Total (3 units)			$4,105

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: $124,975
• Closing costs: $14,997
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-07
   statusdays on market $499,900 Pending 2 DOM
2. 2026-06-03
   remarks 548-char remark

   Show marketing remark (548 chars)

   Holland investment opportunity! This cash-flowing 3-unit townhouse-style triplex is well cared for, professionally managed, and located on a quiet, low-traffic cul-de-sac. Each unit offers a private entry, attached extra-deep single-stall garage, mechanical/storage room, spacious living room, dining area with access to a 10'x10' deck, kitchen with appliances, half bath, two large bedrooms, full bath, and laundry closet with stacked washer/dryer. A solid rental property with functional layouts, garage parking, and a desirable Holland location.

3. 2026-06-03
   listed $499,900 Active 1 DOM

   Show marketing remark (548 chars)

   Holland investment opportunity! This cash-flowing 3-unit townhouse-style triplex is well cared for, professionally managed, and located on a quiet, low-traffic cul-de-sac. Each unit offers a private entry, attached extra-deep single-stall garage, mechanical/storage room, spacious living room, dining area with access to a 10'x10' deck, kitchen with appliances, half bath, two large bedrooms, full bath, and laundry closet with stacked washer/dryer. A solid rental property with functional layouts, garage parking, and a desirable Holland location.

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,260
• − Mortgage interest: −$28,002
• − Property taxes: −$7,498
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,941
• − Management: −$3,941
• − Depreciation: −$14,543
• Taxable loss: −$11,164
• Est. tax savings @ 24.0%: +$2,679
• After-tax cash flow: $138/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

Fair 45/100 Moderate rehab

This 3-unit triplex requires moderate renovations to improve its condition and value. Upgrades to interior walls, cabinets, and fixtures, along with fresh paint and landscaping, can significantly enhance its appeal and marketability.

Repairs flagged

• Minor Kitchen cabinets — Worn wood finish
• Minor Bathroom fixtures — Basic and dated design
• Minor Flooring — Worn carpet
• Minor Paint — Neutral tones, could be refreshed

Value-add opportunities

• Both Paint interior walls and trim — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace worn kitchen cabinets — New cabinets improve functionality and aesthetics
• Both Upgrade bathroom fixtures — Modern fixtures enhance functionality and appeal
• Both Replace worn carpet — Fresh carpet improves comfort and appearance
• Both Landscaping and curb appeal — Enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn wood finish	Minor	$500–3,000
Bathroom fixtures · Basic and dated design	Minor	$500–3,000
Flooring · Worn carpet	Minor	$500–3,000
Paint · Neutral tones, could be refreshed	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint interior walls and trim — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace worn kitchen cabinets — New cabinets improve functionality and aesthetics ↑
• Both Upgrade bathroom fixtures — Modern fixtures enhance functionality and appeal ↑
• Both Replace worn carpet — Fresh carpet improves comfort and appearance ↑
• Both Landscaping and curb appeal — Enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Holland City School District
• NCES district ID: 2618420
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $47,880
• Composite: 29.67/100
• National rank: #6463
• State rank: #292 of 540 in MI

Livability — Holland

• Score: 82/100
• State rank: #46
• US rank: #1066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holland, MI
• County: Allegan County · 47,060 people
• City population: 96,870
• Metro: Holland, MI
• Population (ZIP): 47,060
• Household income: $81,858
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 875.0

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 313,561 people
• By 2030: 330,027 · +5.3%
• By 2040: 361,118 · +15.2%
• By 2050: 388,414 · +23.9%
• By 2075: 452,175 · +44.2%
• By 2100: 473,041 · +50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 19% Two or more races 10% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1% Cuban 1%
• Common ancestry: Iranian 29% Romanian 4% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 10% Other Asian/Pacific 1%

Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+20.4) · D 39.0% · R 59.5% · Other 1.5%
• 2008→2024 swing: +3.4pp toward D · 2008: -23.9pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+21.5 2016: R+30.4 2012: R+34.2 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -305.61%
• Current HPI: 252.0602
• Rent YoY: ▲ 10.00%
• Metro: Holland, 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

+66.6% since first listed

11 events — show timeline

• 2026-06-03 Listed $499,900 REALCOMP
• 2026-06-03 Listed $499,900 MiRealSource-MiMLS
• 2022-03-10 Listed $450,000 SW Michigan MLS
• 2022-03-10 Listed $450,000 REALCOMP
• 2022-03-10 Sold (MLS) $450,000 SW Michigan MLS
• 2022-03-10 Sold (MLS) $450,000 REALCOMP
• 2018-08-28 Sold (MLS) $295,000 SW Michigan MLS
• 2018-08-28 Sold (MLS) $295,000 REALCOMP
• 2018-08-10 Pending — SW Michigan MLS
• 2018-05-30 Listed $300,000 SW Michigan MLS
• 2018-05-30 Listed $300,000 REALCOMP