1339 Fuller Ave NE · Grand Rapids, MI 49505

$219,900

4 bd · 1.0 ba · 1,750 sqft · SingleFamily public records · 1 Days on market

Built 1940 0.36 ac lot

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Why this score? — see what drove the C 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 +25.5/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

Key facts

• 0.36 acre lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Cap rate 9.1% vs local median 4.5% in Grand Rapids — 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 83/100 on livability (#44 in MI, #939 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: employment C-, crime F.
• Grand Rapids Public Schools (urban): math 15% / reading 29% proficiency, ranked #451 of 540 in MI (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.5%/yr); 147 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 40% of the median local income ($75k/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.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $62k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 28y 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.
• Current owner paid $105k; list at $220k implies a 110% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $219,900

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F 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?
4. 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.
5. 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.
6. 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.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.03%
• DSCR: 1.45
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.55% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $1,073
• Equity at exit: $32,788

10-year hold

• IRR: 11.6%
• Equity multiple: 1.97×
• Total profit: $59,737
• Equity at exit: $19,013

Cash invested: $61,572 (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 49505

• Rents YoY: 4.5%
• Active inventory: 147
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,477 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$197 /mo · $2,370/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $515

Break-even live

Break-even rent $1,826

Max offer price $219,900

Occupancy floor 74%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
541 Eastern Ave NE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	43d	1	1.12mi
414 Benson Ave NE Grand Rapids, MI	1.0–3.0	1.0–2.0	1110	$2,673	$2.41	43d	14	1.26mi
138 Travis St NE Grand Rapids, MI	4.0	2.0	1800	$2,395	$1.33	11d	1	1.38mi

Listing history 26 events

1. 2026-03-31
   status Pending 397-char remark

   Show marketing remark (397 chars)

   Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

2. 2026-03-27
   historical 397-char remark

   Show marketing remark (397 chars)

   Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

3. 2026-02-17
   status Pending 394-char remark

   Show marketing remark (397 chars)

   Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

4. 2026-02-17
   status Pending 397-char remark

   Show marketing remark (397 chars)

   Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

5. 2026-02-17
   status Pending

   Show marketing remark (397 chars)

   Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

6. 2026-02-16
   historical
7. 2026-02-11
   status Pending
8. 2026-02-09
   historical 397-char remark

   Show marketing remark (394 chars)

   Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

9. 2026-02-09
   historical 394-char remark

   Show marketing remark (394 chars)

   Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

10. 2026-02-09
    historical 394-char remark

    Show marketing remark (394 chars)

    Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

11. 2026-02-05
    listed $219,900 394-char remark

    Show marketing remark (394 chars)

    Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

12. 2026-02-05
    listed $219,900 Active

    Show marketing remark (394 chars)

    Calling all investors! Looking for a home to flip or turn into a rental investment? You found it! The word potential is going to be key here. The home does need a refresh from top to bottom, but has a great floorplan to start with. The large yard, mature trees, and location will make this a great investment for the handy investor. Home is being sold ''as is''. Subject to short sale approval.

13. 2025-10-06
    status Pending
14. 2025-10-06
    status Pending
15. 2025-10-06
    historical
16. 2025-10-06
    historical
17. 2025-09-26
    price $189,900
18. 2025-09-25
    price $189,900
19. 2025-09-25
    price $189,900
20. 2025-08-20
    listed $219,900 Active
21. 2025-08-20
    listed $219,900 Active
22. 2013-09-10
    soldstatus $104,900
23. 2013-09-04
    soldstatus $104,900
24. 2013-03-29
    listed $109,900
25. 1998-09-17
    soldstatus $92,900
26. 1998-07-31
    listed $94,900

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $2,370 · $197/mo
• Projected year-2 tax: $2,878 · $240/mo
• Expected delta: +$508/yr (+$42/mo · 21.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,729
• − Mortgage interest: −$12,318
• − Property taxes: −$2,370
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,378
• − Management: −$2,378
• − Depreciation: −$6,397
• Taxable income: $2,788
• Est. tax owed @ 24.0%: −$669
• After-tax cash flow: $5,509/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.

Schools (NCES district)

• District: Grand Rapids Public Schools
• NCES district ID: 2616440
• Math proficiency: 15% ▼ -5.00%
• Reading proficiency: 29% ▼ -1.00%
• Median HH income: $40,612
• Composite: 18.62/100
• National rank: #8899
• State rank: #451 of 540 in MI

Livability — Grand Rapids

• Score: 83/100
• State rank: #44
• US rank: #939

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grand Rapids, MI
• County: Kent County · 533,805 people
• City population: 181,325
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 32,426
• Household income: $74,906
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1330.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Black 14% Two or more races 11% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Iranian 12% Romanian 8% Italian 3%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 92% English-only · Spanish 3% Chinese 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: —

Market trends

• HPI YoY: ▼ -324.57%
• Current HPI: 306.797
• Rent YoY: ▲ 4.55%
• 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

+131.7% since first listed

26 events — show timeline

• 2026-03-31 Pending — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2026-02-17 Pending — MiRealSource-MiMLS
• 2026-02-17 Pending — REALCOMP
• 2026-02-17 Pending — SW Michigan MLS
• 2026-02-16 Listing Removed — SW Michigan MLS
• 2026-02-11 Pending — SW Michigan MLS
• 2026-02-09 Listing Removed — MiRealSource-MiMLS
• 2026-02-09 Listing Removed — MiRealSource-MiMLS
• 2026-02-09 Listing Removed — REALCOMP
• 2026-02-05 Listed $219,900 SW Michigan MLS
• 2026-02-05 Listed $219,900 MiRealSource-MiMLS
• 2025-10-06 Pending — REALCOMP
• 2025-10-06 Pending — MiRealSource-MiMLS
• 2025-10-06 Listing Removed — MiRealSource-MiMLS
• 2025-10-06 Listing Removed — REALCOMP
• 2025-09-26 Price Changed $189,900 MiRealSource-MiMLS
• 2025-09-25 Price Changed $189,900 REALCOMP
• 2025-09-25 Price Changed $189,900 SW Michigan MLS
• 2025-08-20 Listed $219,900 MiRealSource-MiMLS
• 2025-08-20 Listed $219,900 REALCOMP
• 2013-09-10 Sold (Public Records) $104,900 Public Records
• 2013-09-04 Sold (MLS) $104,900 SW Michigan MLS
• 2013-03-29 Listed $109,900 SW Michigan MLS
• 1998-09-17 Sold (MLS) $92,900 SW Michigan MLS
• 1998-07-31 Listed $94,900 SW Michigan MLS

Property tax history

+2.1%/yr

Latest (2025): $2,370 · -3.6% YoY. Source: county tax records.