1047 Oakdale St SE · Grand Rapids, MI 49507

$229,900

3 bd · 1.5 ba · 1,308 sqft · SingleFamily public records · 10 Days on market

Built 1925 5,663 sqft lot $176/sqft · 48% below area Est $441k · 48% under

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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 +17.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1047 Oakdale! This 3 bed 1.5 bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level offers a spacious living area, dining space, kitchen, and half bath! The upper level features three bedrooms and a full bath for comfort and convenience! The unfinished basement provides laundry and plenty of storage! Off street parking is available through the back alley! Schedule your showing today!

Key facts

• 5,663 sq ft lot
• Built 1925
• Listed 10 days

Property features AI

Exterior

• Utilities: Public water; Electricity available; Natural gas connected
• Home design: Traditional single-family home; Built in 1925
• Construction: Brick and wood siding exterior; Composition roof
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Microwave; Oven; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: 9 total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (9.9% below list).
• Recommended offer: $207k (9.9% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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.
• Zoned schools: Mulick Park Elementary School (math 15% / reading 24%, grade F, #1,091 of 1,397 statewide, top 79%, 244 students, 89% FRL); Alger Middle School (math 2% / reading 12%, grade F, #481 of 493 statewide, top 98%, 342 students, 95% FRL); City Middlehigh (math 65% / reading 88%, grade A-, #16 of 713 statewide, top 2%, 908 students, 40% FRL).
• Zoned-school proficiency averages 34% at this address vs 22% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Grand Rapids Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.7%/yr); 178 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% 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 ($61k/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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 14y 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $207,171 (9.9% below list)

Questions for the listing agent

1. Built in 1925 — 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: 0.90% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.14%
• DSCR: 1.14
• GRM: 9.2

CMA / ARV

• ARV (median comp): $441,355
• List price: $229,900
• Delta: -47.91%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.74% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.64×
• Total profit: $-22,876
• Equity at exit: $34,279

10-year hold

• IRR: 1.9%
• Equity multiple: 1.15×
• Total profit: $9,412
• Equity at exit: $19,878

Cash invested: $64,372 (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 49507

• Rents YoY: 4.7%
• Active inventory: 178
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,072 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$167 /mo · $2,001/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $168

Break-even live

Break-even rent $1,858

Max offer price $229,900

Occupancy floor 87%

Sensitivity live

Price	-10% $299	-5% $234	+0% $168	+5% $103	+10% $38
Rent	-10% $5	-5% $87	+0% $168	+5% $250	+10% $332
Rate	-1.0pp $284	-0.5pp $227	base $168	+0.5pp $109	+1.0pp $48

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1057 Griggs St SE Grand Rapids, MI	2.0	1.0	1100	$1,550	$1.41	45d	1	0.41mi
1555 Margaret Ave SE Grand Rapids, MI	2.0	1.0	900	$1,500	$1.67	16d	1	0.50mi
1027 Underwood Ave SE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	16d	1	0.51mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	45d	1	0.54mi
950 Merritt St SE Grand Rapids, MI	3.0	1.0	1000	$2,100	$2.10	45d	1	0.75mi
1031 Merrifield St SE Grand Rapids, MI	3.0	2.0	1238	$2,300	$1.86	15d	1	0.84mi
1114 Dunham St SE Unit 1 Grand Rapids, MI	2.0	1.0	894	$1,300	$1.45	45d	1	0.95mi
729 Bates St SE Unit 1 Grand Rapids, MI	4.0	3.5	1576	$2,395	$1.52	45d	1	0.96mi
434 Worden St SE Unit 2 Grand Rapids, MI	2.0	1.0	900	$1,495	$1.66	45d	1	1.08mi
840 Lafayette Ave SE Unit 2 Grand Rapids, MI	3.0	1.0	950	$1,600	$1.68	45d	1	1.21mi
550 Union Ave SE Grand Rapids, MI	3.0	1.5	1743	$2,800	$1.61	45d	1	1.23mi
1400 Wealthy St SE Grand Rapids, MI	2.0	1.0	907	$1,925	$2.12	4d	1	1.32mi
1333 Wealthy St SE Unit 2 Grand Rapids, MI	2.0	1.0	1113	$1,900	$1.71	45d	1	1.33mi
1353 Pinecrest Ave SE Grand Rapids, MI	3.0	1.5	1866	$3,500	$1.88	16d	1	1.35mi
638 Wealthy St SE Unit A Grand Rapids, MI	2.0	2.0	1000	$2,100	$2.10	45d	1	1.38mi
2551 Eastern Ave SE Unit 1 Grand Rapids, MI	3.0	2.0	1600	$2,100	$1.31	45d	1	1.41mi
414 Paris Ave SE Grand Rapids, MI	3.0	1.5	1700	$2,850	$1.68	45d	1	1.42mi
258 Orchard Hill St SE Grand Rapids, MI	3.0	1.0	1300	$1,900	$1.46	45d	1	1.43mi
325 Norwood Ave SE Grand Rapids, MI	3.0	1.5	1398	$2,700	$1.93	25d	1	1.49mi

Listing history 19 events

1. 2026-05-18
   status Pending 461-char remark

   Show marketing remark (461 chars)

   Welcome to 1047 Oakdale! This 3 bed 1.5 bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level offers a spacious living area, dining space, kitchen, and half bath! The upper level features three bedrooms and a full bath for comfort and convenience! The unfinished basement provides laundry and plenty of storage! Off street parking is available through the back alley! Schedule your showing today!

2. 2026-05-18
   status Pending 461-char remark

   Show marketing remark (461 chars)

   Welcome to 1047 Oakdale! This 3 bed 1.5 bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level offers a spacious living area, dining space, kitchen, and half bath! The upper level features three bedrooms and a full bath for comfort and convenience! The unfinished basement provides laundry and plenty of storage! Off street parking is available through the back alley! Schedule your showing today!

3. 2026-05-18
   status Pending

   Show marketing remark (461 chars)

   Welcome to 1047 Oakdale! This 3 bed 1.5 bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level offers a spacious living area, dining space, kitchen, and half bath! The upper level features three bedrooms and a full bath for comfort and convenience! The unfinished basement provides laundry and plenty of storage! Off street parking is available through the back alley! Schedule your showing today!

4. 2026-05-11
   listed $229,900 Active 461-char remark

   Show marketing remark (461 chars)

   Welcome to 1047 Oakdale! This 3 bed 1.5 bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level offers a spacious living area, dining space, kitchen, and half bath! The upper level features three bedrooms and a full bath for comfort and convenience! The unfinished basement provides laundry and plenty of storage! Off street parking is available through the back alley! Schedule your showing today!

5. 2026-05-11
   listed $229,900 Active 461-char remark

   Show marketing remark (461 chars)

   Welcome to 1047 Oakdale! This 3 bed 1.5 bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level offers a spacious living area, dining space, kitchen, and half bath! The upper level features three bedrooms and a full bath for comfort and convenience! The unfinished basement provides laundry and plenty of storage! Off street parking is available through the back alley! Schedule your showing today!

6. 2026-05-11
   listed $229,900 Active

   Show marketing remark (461 chars)

   Welcome to 1047 Oakdale! This 3 bed 1.5 bath home has been updated and is move in ready! Offering immediate possession this home is a must see! The main level offers a spacious living area, dining space, kitchen, and half bath! The upper level features three bedrooms and a full bath for comfort and convenience! The unfinished basement provides laundry and plenty of storage! Off street parking is available through the back alley! Schedule your showing today!

7. 2025-12-10
   soldstatus $1,338,031
8. 2025-03-06
   historical $1,695
9. 2025-02-22
   listed $1,695
10. 2017-05-30
    soldstatus $65,001
11. 2017-05-26
    soldstatus $65,000
12. 2017-05-26
    soldstatus $65,000 Sold
13. 2017-05-18
    status Pending
14. 2017-05-16
    listed $49,900 Active
15. 2017-05-16
    listed $49,900
16. 2012-02-17
    soldstatus $9,000
17. 2012-02-17
    soldstatus $9,000
18. 2012-01-17
    listed $9,900
19. 2012-01-17
    listed $9,900

ⓘ 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: $2,001 · $167/mo
• Projected year-2 tax: $2,771 · $231/mo
• Expected delta: +$770/yr (+$64/mo · 38.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $24,861
• − Mortgage interest: −$12,878
• − Property taxes: −$2,001
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,989
• − Management: −$1,989
• − Depreciation: −$6,688
• Taxable loss: −$1,834
• Est. tax savings @ 24.0%: +$440
• After-tax cash flow: $2,462/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): 38,487
• Household income: $61,461
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1625.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Hispanic / Latino 31% Black 31% White 30% Two or more races 21%
• Hispanic origin (detail): Mexican 18% Puerto Rican 3% Dominican 1%
• Common ancestry: Iranian 8% Romanian 2% Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 71% English-only · Spanish 23% Arabic 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: ▼ -301.99%
• Current HPI: 325.3878
• Rent YoY: ▲ 4.74%
• 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

+2222.2% since first listed

25 events — show timeline

• 2026-05-29 Pending — REALCOMP
• 2026-05-29 Pending — MiRealSource-MiMLS
• 2026-05-29 Pending — SW Michigan MLS
• 2026-05-27 Relisted — REALCOMP
• 2026-05-26 Relisted — MiRealSource-MiMLS
• 2026-05-26 Relisted — SW Michigan MLS
• 2026-05-18 Pending — REALCOMP
• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Pending — SW Michigan MLS
• 2026-05-11 Listed $229,900 REALCOMP
• 2026-05-11 Listed $229,900 SW Michigan MLS
• 2026-05-11 Listed $229,900 MiRealSource-MiMLS
• 2025-12-10 Sold (Public Records) $1,338,031 Public Records
• 2025-03-06 Rental Removed $1,695 SHOWMOJO
• 2025-02-22 Listed for Rent $1,695 SHOWMOJO
• 2017-05-30 Sold (Public Records) $65,001 Public Records
• 2017-05-26 Sold (MLS) $65,000 SW Michigan MLS
• 2017-05-26 Sold (MLS) $65,000 REALCOMP
• 2017-05-18 Pending — SW Michigan MLS
• 2017-05-16 Listed $49,900 SW Michigan MLS
• 2017-05-16 Listed $49,900 REALCOMP
• 2012-02-17 Sold (MLS) $9,000 REALCOMP
• 2012-02-17 Sold (MLS) $9,000 SW Michigan MLS
• 2012-01-17 Listed $9,900 REALCOMP
• 2012-01-17 Listed $9,900 SW Michigan MLS

Property tax history

+4.3%/yr

Latest (2025): $2,001 · +2.7% YoY. Source: county tax records.