15371 Buck Hollow Dr

Trufant, MI 49326

$399,900D-

4 bd · 1.0 ba · 1,252 sqft · Built 2021 · SingleFamily · Pending · 40 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,732/mo
• Mortgage (P&I): −$2,097
• Tax + insurance: −$404
• HOA: −$0
• Vac / Maint / Mgmt: −$574
• Net cashflow: $-343/mo
• Annual: $-4,114/yr
• Cap rate: 5.26%
• Cash-on-cash: -3.67%
• DSCR: 0.84
• 1% rule: 0.68%
• Cash to close: $111,972

Investor read

• This is a 4-bed/1.0-bath single-family listed at $400k. Condition is rated good.
• At list price, monthly cash flow is $-343 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $339k (15.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $273k (31.7% below list).
• It's been on market 40 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $273k (31.7% below list) — sets the bar for 1% rule.
• In year one you build about $3k of equity ($3k loan paydown + $374 appreciation (0.1% local appreciation)).
• Location reads: area grade D — 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: 28 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.
• 6 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.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 40 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.