3104 Old Kent Rd SE #26 · Kentwood, MI 49512

$238,500

3 bd · 2.0 ba · 1,634 sqft · Condo · 3 Days on market

Built 1982 Good condition $315/mo HOA · 13% of rent

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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 +10.7/30.0
• ARV discount +7.5/15.0
• 1% rule +4.8/10.0
• Rent growth +4.1/5.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• DSCR +3.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turn key three bedroom two bath walkout waterfront ranch condo. This beautifully maintained condo is sure to please. Updated throughout, new flooring, trim, fixtures, paint and more. The main floor includes the kitchen, eating area, spacious LR, with sliders leading to the light filled 3 season room with new carpet and magnificent views of the pond and wildlife. 2BR's and 1 full BA and 1 car garage finish off this level. The walkout lower level features include an inviting family room with FP and new flooring and sliders leading to the patio area. Finishing off this level is the 3BR and second full bath, laundry and storage area. You will not want to miss this condo in the lovely Castle Villa development.

Key facts

• Walkout waterfront
• Patio area
• $315 HOA

Tags

• WALKOUT WATERFRONT
• LIGHT FILLED 3 SEASON ROOM
• PATIO AREA

Property features AI

Finance

• HOA & community: Monthly association fee of $315; Association covers water, trash, snow removal, and lawn/yard care; Property is in an association

Exterior

• Parking: Detached 1-car garage
• Utilities: Natural gas available and connected; Electricity available; Cable connected; High-speed internet; Natural gas water heater
• Home design: Ranch-style condominium; Single-story
• Construction: Built in 1982; Aluminum siding; Shingle roof; Approximately 1634 living area
• Exterior features: Pond on the property; Public water

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Cooling present
• Interior features: Garage door opener; Fireplace; Skylights; Insulated windows; Window treatments; 7 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $238k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-113 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $222k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $234k (1.8% below list).
• Recommended offer: $222k (6.8% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 3.7% in Kentwood — 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 74/100 on livability (#191 in MI, #4,892 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: commute C-, crime D, amenities F.
• Kentwood Public Schools (suburban): math 34% / reading 46% proficiency, ranked #206 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.5%/yr); 147 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 39% of the median local income ($71k/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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $222,216 (6.8% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.98% ✗
• Cap rate: 5.73%
• Cash-on-cash: -2.02%
• DSCR: 0.91
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.55% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.45×
• Total profit: $-36,920
• Equity at exit: $35,561

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-2,193
• Equity at exit: $20,621

Cash invested: $66,780 (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 49512

• Home prices YoY: -15.9%
• Rents YoY: 6.5%
• Active inventory: 147
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,343 medium
• Mortgage (P&I): −$1,251
• Tax est. 1.5%: −$298 /mo · $3,578/yr
• Insurance: −$99
• HOA: −$315
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $-113

Break-even live

Break-even rent $2,485

Max offer price $222,216

Occupancy floor 100%

Sensitivity live

Price	-10% $52	-5% $-30	+0% $-113	+5% $-195	+10% $-277
Rent	-10% $-298	-5% $-205	+0% $-113	+5% $-20	+10% $73
Rate	-1.0pp $8	-0.5pp $-52	base $-113	+0.5pp $-174	+1.0pp $-237

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: $59,625
• Closing costs: $7,155
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2859 Bransford Dr SE Grand Rapids, MI	4.0	2.0	1667	$2,625	$1.57	11d	1	0.32mi
4260 Hidden Lakes Dr SE Kentwood, MI	1.0–2.0	1.0–2.0	931	$1,795	$1.93	3d	21	1.25mi
3300 E Paris Ave SE Kentwood, MI	1.0–2.0	1.0–2.0	1012	$1,919	$1.90	3d	64	1.42mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-05-04
   status Pending 714-char remark

   Show marketing remark (714 chars)

   Turn key three bedroom two bath walkout waterfront ranch condo. This beautifully maintained condo is sure to please. Updated throughout, new flooring, trim, fixtures, paint and more. The main floor includes the kitchen, eating area, spacious LR, with sliders leading to the light filled 3 season room with new carpet and magnificent views of the pond and wildlife. 2BR's and 1 full BA and 1 car garage finish off this level. The walkout lower level features include an inviting family room with FP and new flooring and sliders leading to the patio area. Finishing off this level is the 3BR and second full bath, laundry and storage area. You will not want to miss this condo in the lovely Castle Villa development.

2. 2026-05-04
   status Pending 714-char remark

   Show marketing remark (714 chars)

   Turn key three bedroom two bath walkout waterfront ranch condo. This beautifully maintained condo is sure to please. Updated throughout, new flooring, trim, fixtures, paint and more. The main floor includes the kitchen, eating area, spacious LR, with sliders leading to the light filled 3 season room with new carpet and magnificent views of the pond and wildlife. 2BR's and 1 full BA and 1 car garage finish off this level. The walkout lower level features include an inviting family room with FP and new flooring and sliders leading to the patio area. Finishing off this level is the 3BR and second full bath, laundry and storage area. You will not want to miss this condo in the lovely Castle Villa development.

3. 2026-05-04
   status Pending

   Show marketing remark (714 chars)

   Turn key three bedroom two bath walkout waterfront ranch condo. This beautifully maintained condo is sure to please. Updated throughout, new flooring, trim, fixtures, paint and more. The main floor includes the kitchen, eating area, spacious LR, with sliders leading to the light filled 3 season room with new carpet and magnificent views of the pond and wildlife. 2BR's and 1 full BA and 1 car garage finish off this level. The walkout lower level features include an inviting family room with FP and new flooring and sliders leading to the patio area. Finishing off this level is the 3BR and second full bath, laundry and storage area. You will not want to miss this condo in the lovely Castle Villa development.

4. 2026-04-29
   listed $238,500 Active 714-char remark

   Show marketing remark (714 chars)

   Turn key three bedroom two bath walkout waterfront ranch condo. This beautifully maintained condo is sure to please. Updated throughout, new flooring, trim, fixtures, paint and more. The main floor includes the kitchen, eating area, spacious LR, with sliders leading to the light filled 3 season room with new carpet and magnificent views of the pond and wildlife. 2BR's and 1 full BA and 1 car garage finish off this level. The walkout lower level features include an inviting family room with FP and new flooring and sliders leading to the patio area. Finishing off this level is the 3BR and second full bath, laundry and storage area. You will not want to miss this condo in the lovely Castle Villa development.

5. 2026-04-29
   listed $238,500 Active 714-char remark

   Show marketing remark (714 chars)

   Turn key three bedroom two bath walkout waterfront ranch condo. This beautifully maintained condo is sure to please. Updated throughout, new flooring, trim, fixtures, paint and more. The main floor includes the kitchen, eating area, spacious LR, with sliders leading to the light filled 3 season room with new carpet and magnificent views of the pond and wildlife. 2BR's and 1 full BA and 1 car garage finish off this level. The walkout lower level features include an inviting family room with FP and new flooring and sliders leading to the patio area. Finishing off this level is the 3BR and second full bath, laundry and storage area. You will not want to miss this condo in the lovely Castle Villa development.

6. 2026-04-29
   listed $238,500 Active

   Show marketing remark (714 chars)

   Turn key three bedroom two bath walkout waterfront ranch condo. This beautifully maintained condo is sure to please. Updated throughout, new flooring, trim, fixtures, paint and more. The main floor includes the kitchen, eating area, spacious LR, with sliders leading to the light filled 3 season room with new carpet and magnificent views of the pond and wildlife. 2BR's and 1 full BA and 1 car garage finish off this level. The walkout lower level features include an inviting family room with FP and new flooring and sliders leading to the patio area. Finishing off this level is the 3BR and second full bath, laundry and storage area. You will not want to miss this condo in the lovely Castle Villa development.

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 52% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,112
• − Mortgage interest: −$13,360
• − Property taxes: −$3,578
• − Insurance: −$1,192
• − Repairs & maintenance: −$2,249
• − Management: −$2,249
• − HOA: −$3,780
• − Depreciation: −$6,938
• Taxable loss: −$5,234
• Est. tax savings @ 24.0%: +$1,256
• After-tax cash flow: $-94/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained, updated three-bedroom townhouse is move-in ready with a good condition score and minimal repairs needed.

Value-add opportunities

• Resale paint exterior — enhances curb appeal
• Resale trim around windows — improves home's appearance
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal ↑
• Resale trim around windows — improves home's appearance ↑
• Both landscaping — 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: Kentwood Public Schools
• NCES district ID: 2620340
• Math proficiency: 34% ▼ -4.00%
• Reading proficiency: 46% ▼ -3.00%
• Median HH income: $48,962
• Composite: 34.35/100
• National rank: #5226
• State rank: #206 of 540 in MI

Livability — Kentwood

• Score: 74/100
• State rank: #191
• US rank: #4892

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kentwood, MI
• County: Kent County · 533,805 people
• City population: 130,591
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 18,373
• Household income: $71,329
• Rent vs Own: 57.0% rent · 43.0% own
• Severe rent burden: 1230.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 62% Black 18% Hispanic / Latino 9% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Iranian 13% American 5% Romanian 3%
• Foreign-born: 17% · Vietnam, Canada, Philippines
• Languages at home: 79% English-only · Russian/Polish/Slavic 4% Spanish 4% Other Indo-European 3%

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: ▼ -43.77%
• Current HPI: 231.7742
• Rent YoY: ▲ 6.55%
• 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

-0.2% since first listed

9 events — show timeline

• 2026-05-29 Sold (MLS) $238,000 SW Michigan MLS
• 2026-05-29 Sold (MLS) $238,000 MiRealSource-MiMLS
• 2026-05-29 Sold (MLS) $238,000 REALCOMP
• 2026-05-04 Pending — REALCOMP
• 2026-05-04 Pending — MiRealSource-MiMLS
• 2026-05-04 Pending — SW Michigan MLS
• 2026-04-29 Listed $238,500 SW Michigan MLS
• 2026-04-29 Listed $238,500 MiRealSource-MiMLS
• 2026-04-29 Listed $238,500 REALCOMP