998 Village Ln · Jenison, MI 49428

$162,000

2 bd · 1.0 ba · 853 sqft · Condo · 3 Days on market

Built 1976 $322/mo HOA · 14% of rent

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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 +25.4/30.0
• 1% rule +9.2/10.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Freshly pained 2-bedroom end unit condo in the New Amsterdam Village, a 55+ community. Great space with a dining room, spacious living room that opens to the covered back porch. Two bedrooms and in unit brand new washer & dryer. Association fee provides gas, water, cable, snow removal and lawn care. Private storage unit in the basement of the building. Assigned car port for covered parking. Lots of guest parking behind the condo. Beautifully maintained grounds with community clubhouse, community garden, library and wood shop. On site association office. A lovely condo in Jenison with possession at close.

Key facts

• Guest parking
• Private storage unit
• In unit washer dryer

Tags

• END UNIT CONDO
• COVERED BACK PORCH
• IN UNIT WASHER DRYER
• PRIVATE STORAGE UNIT
• ASSIGNED CAR PORT
• GUEST PARKING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $162k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $162k).
• Cap rate 9.0% vs local median 3.3% in Jenison — 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 (#178 in MI, #4,596 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute F, health & safety F.
• Jenison Public Schools (suburban): math 57% / reading 66% proficiency, ranked #36 of 540 in MI (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 36y 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 $44k; list at $162k implies a 264% gain — meaningful room to come down on a strong offer.

Recommended offer $162,000

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 B-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. 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.
7. 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.
8. 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: 1.42% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.83%
• DSCR: 1.44
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -1.4%
• Equity multiple: 0.95×
• Total profit: $-2,357
• Equity at exit: $24,155

10-year hold

• IRR: 8.4%
• Equity multiple: 1.65×
• Total profit: $29,360
• Equity at exit: $14,007

Cash invested: $45,360 (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 49428

• Active inventory: 142
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,295 medium
• Mortgage (P&I): −$850
• Tax est. 1.5%: −$202 /mo · $2,430/yr
• Insurance: −$68
• HOA: −$322
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $372

Break-even live

Break-even rent $1,825

Max offer price $162,000

Occupancy floor 79%

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: $40,500
• Closing costs: $4,860
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7202 Melody Ln Jenison, MI	3.0	1.0	1002	$2,295	$2.29	3d	1	0.73mi

HOA detail condo

• Monthly dues: $322 · $3,864/yr
• Likely covers: watergascablelandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-04-23
   status Pending 617-char remark

   Show marketing remark (617 chars)

   Freshly pained 2-bedroom end unit condo in the New Amsterdam Village, a 55+ community. Great space with a dining room, spacious living room that opens to the covered back porch. Two bedrooms and in unit brand new washer & dryer. Association fee provides gas, water, cable, snow removal and lawn care. Private storage unit in the basement of the building. Assigned car port for covered parking. Lots of guest parking behind the condo. Beautifully maintained grounds with community clubhouse, community garden, library and wood shop. On site association office. A lovely condo in Jenison with possession at close.

2. 2026-04-23
   status Pending 617-char remark

   Show marketing remark (617 chars)

   Freshly pained 2-bedroom end unit condo in the New Amsterdam Village, a 55+ community. Great space with a dining room, spacious living room that opens to the covered back porch. Two bedrooms and in unit brand new washer & dryer. Association fee provides gas, water, cable, snow removal and lawn care. Private storage unit in the basement of the building. Assigned car port for covered parking. Lots of guest parking behind the condo. Beautifully maintained grounds with community clubhouse, community garden, library and wood shop. On site association office. A lovely condo in Jenison with possession at close.

3. 2026-04-23
   status Pending

   Show marketing remark (617 chars)

   Freshly pained 2-bedroom end unit condo in the New Amsterdam Village, a 55+ community. Great space with a dining room, spacious living room that opens to the covered back porch. Two bedrooms and in unit brand new washer & dryer. Association fee provides gas, water, cable, snow removal and lawn care. Private storage unit in the basement of the building. Assigned car port for covered parking. Lots of guest parking behind the condo. Beautifully maintained grounds with community clubhouse, community garden, library and wood shop. On site association office. A lovely condo in Jenison with possession at close.

4. 2026-04-20
   listed $162,000 Active 617-char remark

   Show marketing remark (617 chars)

   Freshly pained 2-bedroom end unit condo in the New Amsterdam Village, a 55+ community. Great space with a dining room, spacious living room that opens to the covered back porch. Two bedrooms and in unit brand new washer & dryer. Association fee provides gas, water, cable, snow removal and lawn care. Private storage unit in the basement of the building. Assigned car port for covered parking. Lots of guest parking behind the condo. Beautifully maintained grounds with community clubhouse, community garden, library and wood shop. On site association office. A lovely condo in Jenison with possession at close.

5. 2026-04-20
   listed $162,000 Active 617-char remark

   Show marketing remark (617 chars)

   Freshly pained 2-bedroom end unit condo in the New Amsterdam Village, a 55+ community. Great space with a dining room, spacious living room that opens to the covered back porch. Two bedrooms and in unit brand new washer & dryer. Association fee provides gas, water, cable, snow removal and lawn care. Private storage unit in the basement of the building. Assigned car port for covered parking. Lots of guest parking behind the condo. Beautifully maintained grounds with community clubhouse, community garden, library and wood shop. On site association office. A lovely condo in Jenison with possession at close.

6. 2026-04-20
   listed $162,000 Active

   Show marketing remark (617 chars)

   Freshly pained 2-bedroom end unit condo in the New Amsterdam Village, a 55+ community. Great space with a dining room, spacious living room that opens to the covered back porch. Two bedrooms and in unit brand new washer & dryer. Association fee provides gas, water, cable, snow removal and lawn care. Private storage unit in the basement of the building. Assigned car port for covered parking. Lots of guest parking behind the condo. Beautifully maintained grounds with community clubhouse, community garden, library and wood shop. On site association office. A lovely condo in Jenison with possession at close.

7. 1990-07-25
   soldstatus $44,500
8. 1990-07-25
   soldstatus $44,500
9. 1990-05-07
   listed $49,000
10. 1990-05-07
    listed $49,000

ⓘ 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 4/10 Moderate FEMA zone X (shaded) · 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,540
• − Mortgage interest: −$9,075
• − Property taxes: −$2,430
• − Insurance: −$810
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − HOA: −$3,864
• − Depreciation: −$4,713
• Taxable income: $2,242
• Est. tax owed @ 24.0%: −$538
• After-tax cash flow: $3,920/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: Jenison Public Schools
• NCES district ID: 2619830
• Math proficiency: 57% ▼ -3.00%
• Reading proficiency: 66% ▼ -3.00%
• Median HH income: $58,030
• Composite: 53.06/100
• National rank: #1517
• State rank: #36 of 540 in MI

Livability — Jenison

• Score: 74/100
• State rank: #178
• US rank: #4596

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Jenison, MI
• City population: 28,090
• Population (ZIP): 28,090

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3% Asian 1%
• Common ancestry: Iranian 37% Romanian 8% Lithuanian 3%
• Foreign-born: 2% · Canada, China, South Korea
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -234.19%
• Current HPI: 264.7304
• Rent YoY: —
• Metro: —
• 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

+230.6% since first listed

10 events — show timeline

• 2026-04-23 Pending — MiRealSource-MiMLS
• 2026-04-23 Pending — REALCOMP
• 2026-04-23 Pending — SW Michigan MLS
• 2026-04-20 Listed $162,000 REALCOMP
• 2026-04-20 Listed $162,000 SW Michigan MLS
• 2026-04-20 Listed $162,000 MiRealSource-MiMLS
• 1990-07-25 Sold (MLS) $44,500 REALCOMP
• 1990-07-25 Sold (MLS) $44,500 SW Michigan MLS
• 1990-05-07 Listed $49,000 REALCOMP
• 1990-05-07 Listed $49,000 SW Michigan MLS