827 Geneva Ave SE · Grand Rapids, MI 49507

$315,000

6 bd · 2.0 ba · 2,066 sqft · SingleFamily public records · 14 Days on market

Built 1900 6,534 sqft lot

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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 +16.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Classic 1900 multi-family home in the heart of 49507 area. Perfect for an investment or a spacious residence. This Boasting 2,057 sq ft of living space 4-6 bedrooms, 2 bathrooms. Unit One - 2/1 with living room, dining room and basement area washer/dryer hookup and 2 additional storage areas. Unit Two- 2-4/1 with Living room, dining room, 2 enclosed porches and an attic w/ 2 possible unfinished rooms. Private Driveway and large backyard for entertaining. Property is perfect for investors or those seeking a sprawling single family residence. Features include a large 6,600 square foot lot and a highly accessible locations walking distance to MLK community center w/ large community pool, a few

Key facts

• Enclosed porches
• Living space
• Private driveway

Tags

• MULTI-FAMILY HOME
• LIVING SPACE
• WASHER DRYER HOOKUP
• STORAGE AREAS
• ENCLOSED PORCHES
• PRIVATE DRIVEWAY

Property features AI

Finance

• Other: Living area approximately 2,066
• Financial info: Financial details not provided
• HOA & community: HOA or community fee information not provided

Exterior

• Parking: Parking details not provided
• Security: Security features not provided
• Utilities: Utility details not provided
• Home design: Built in 1900
• Construction: Construction details not provided
• Exterior features: Located in the South East End subdivision

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedroom count not provided
• Flooring: Flooring details not provided
• Bathrooms: Bathroom count not provided
• Heating & cooling: Heating and cooling details not provided
• Interior features: No interior feature details available
• Laundry & utility: Laundry and utility details not provided

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $196 ($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 $272k (13.7% below list).
• Recommended offer: $272k (13.7% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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 (+4.7%/yr); 178 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• At $2,718/mo this rent would consume 53% of the median local household income ($61k/yr) (locally 1625% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 17y 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $271,842 (13.7% below list)

Questions for the listing agent

1. Built in 1900 — 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. 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?
5. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 7.04%
• Cash-on-cash: 2.66%
• DSCR: 1.12
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-33,831
• Equity at exit: $46,968

10-year hold

• IRR: 1.0%
• Equity multiple: 1.08×
• Total profit: $6,786
• Equity at exit: $27,235

Cash invested: $88,200 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,718 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$169 /mo · $2,024/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$571
• Net cashflow: $196

Break-even live

Break-even rent $2,471

Max offer price $315,000

Occupancy floor 88%

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1154 Prospect Ave SE Grand Rapids, MI	5.0	2.0	1800	$2,300	$1.28	44d	1	0.73mi
117 Fuller Ave NE Grand Rapids, MI	6.0	2.5	2160	$3,150	$1.46	44d	1	1.28mi

Listing history 21 events

1. 2026-06-18
   days on market $315,000 Active 14 DOM
2. 2026-06-17
   days on market $315,000 Active 13 DOM
3. 2026-06-16
   days on marketlisting id $315,000 Active 12 DOM
4. 2026-06-15
   listing id $315,000 Active 11 DOM
5. 2026-06-15
   days on market $315,000 Active 11 DOM
6. 2026-06-14
   days on market $315,000 Active 9 DOM
7. 2026-06-13
   days on market $315,000 Active 8 DOM
8. 2026-06-10
   days on market $315,000 Active 6 DOM
9. 2026-06-09
   days on market $315,000 Active 5 DOM
10. 2026-06-08
    days on market $315,000 Active 4 DOM
11. 2026-06-07
    days on market $315,000 Active 3 DOM
12. 2026-06-05
    pricedays on marketlisting id $315,000 Active 1 DOM
13. 2026-06-03
    days on market $325,000 Active 12 DOM
14. 2026-06-03
    days on market $325,000 Active 11 DOM
15. 2026-06-01
    days on market $325,000 Active 10 DOM
16. 2026-05-31
    days on market $325,000 Active 9 DOM
17. 2026-05-23
    listed $325,000 Active
18. 2015-03-18
    historical
19. 2009-11-05
    historical
20. 2009-10-05
    listed $12,900
21. 2009-10-05
    listed $12,900

ⓘ 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: $2,024 · $169/mo
• Projected year-2 tax: $3,437 · $286/mo
• Expected delta: +$1,414/yr (+$118/mo · 69.9%)

ⓘ 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 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: $32,621
• − Mortgage interest: −$17,645
• − Property taxes: −$2,024
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,610
• − Management: −$2,610
• − Depreciation: −$9,164
• Taxable loss: −$3,006
• Est. tax savings @ 24.0%: +$721
• After-tax cash flow: $3,070/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

+2419.4% since first listed

5 events — show timeline

• 2026-05-23 Listed $325,000 FSBO.com
• 2015-03-18 Listing Removed — SW Michigan MLS
• 2009-11-05 Listing Removed — REALCOMP
• 2009-10-05 Listed $12,900 REALCOMP
• 2009-10-05 Listed $12,900 SW Michigan MLS

Property tax history

-0.3%/yr

Latest (2025): $2,024 · -16.9% YoY. Source: county tax records.