13737 Lower Bayside Dr · Grattan, MI 48809

$70,000

2 bd · 1.0 ba · 600 sqft · Condo · 4 Days on market

Built 1972 $125/mo HOA

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Why this score? — see what drove the B+ 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 +29.3/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks MLS

Welcome to Green Lake Resort Club, a private, member-owned seasonal community on the shores of Green Lake. This charming waterfront cottage is your perfect Michigan summer escape!One of a few 2-bedroom units in the community, a rare find within the Club. Enjoy direct waterfront access, stunning lake views, and the relaxed pace of resort-style living. This listing is for the cottage/structure only, not the real estate. The community operates on a shared well serving all 25 cottages, with an individual septic system for each unit. Membership into the Green Lake Resort Club is required and subject to board approval. This is a seasonal community with access from the last Saturday of April through the last Saturday of October. Included with the sale is the Pontoon boat (no working motor), 2 kayaks, 1 canoe, 1 paddle boat, full contents of the cottage, full contents of the shed, and outdoor patio furniture, truly a turn-key seasonal retreat, just bring your bags and enjoy the lake!

Key facts

• Lake views
• Waterfront access
• $125 HOA

Tags

• WATERFRONT ACCESS
• LAKE VIEWS
• TURN-KEY SEASONAL RETREAT

Property features AI

Finance

• Other: Located in a community accessed via M-44 to Ashley Dr. to Lower Bayside Dr.
• HOA & community: Gated community access; Association amenities include beach area and clubhouse; Annual association fee of 1,500 (includes water, sewer, and lawn/yard care)

Exterior

• Utilities: Well water; Electric water heater; Water and sewer service included in association fee
• Home design: Residential stock cooperative; Built in 1972
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Shed(s); Waterfront on Green Lake

Interior

• Kitchen: Microwave; Oven; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Bedroom 5
• Bathrooms: One full bathroom; Primary bathroom
• Heating & cooling: Wall furnace heating; Window air conditioning units
• Interior features: Four total rooms; Screens on windows; Crawl space and slab foundation/basement configuration
• Laundry & utility: Laundry room

🏢 Co-op / cooperative unit. The $70,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Belding Area School District (town): math 23% / reading 31% proficiency, ranked #398 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 72 active listings in the ZIP; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($484 loan paydown + $7k appreciation (10.0% local appreciation)).
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1972 — 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. 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 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: 1.55% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.08%
• DSCR: 1.67
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.5%
• Equity multiple: 3.75×
• Total profit: $53,909
• Equity at exit: $63,062

10-year hold

• IRR: 30.6%
• Equity multiple: 8.48×
• Total profit: $146,599
• Equity at exit: $135,995

Cash invested: $19,600 (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 48809

• Home prices YoY: 3.3%
• Active inventory: 72
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,082 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$125
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $246

Break-even live

Break-even rent $771

Max offer price $70,000

Occupancy floor 72%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $125 · $1,500/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-20
   listed $70,000 Active 990-char remark

   Show marketing remark (990 chars)

   Welcome to Green Lake Resort Club, a private, member-owned seasonal community on the shores of Green Lake. This charming waterfront cottage is your perfect Michigan summer escape!One of a few 2-bedroom units in the community, a rare find within the Club. Enjoy direct waterfront access, stunning lake views, and the relaxed pace of resort-style living. This listing is for the cottage/structure only, not the real estate. The community operates on a shared well serving all 25 cottages, with an individual septic system for each unit. Membership into the Green Lake Resort Club is required and subject to board approval. This is a seasonal community with access from the last Saturday of April through the last Saturday of October. Included with the sale is the Pontoon boat (no working motor), 2 kayaks, 1 canoe, 1 paddle boat, full contents of the cottage, full contents of the shed, and outdoor patio furniture, truly a turn-key seasonal retreat, just bring your bags and enjoy the lake!

2. 2026-05-20
   listed $70,000 Active 990-char remark

   Show marketing remark (990 chars)

   Welcome to Green Lake Resort Club, a private, member-owned seasonal community on the shores of Green Lake. This charming waterfront cottage is your perfect Michigan summer escape!One of a few 2-bedroom units in the community, a rare find within the Club. Enjoy direct waterfront access, stunning lake views, and the relaxed pace of resort-style living. This listing is for the cottage/structure only, not the real estate. The community operates on a shared well serving all 25 cottages, with an individual septic system for each unit. Membership into the Green Lake Resort Club is required and subject to board approval. This is a seasonal community with access from the last Saturday of April through the last Saturday of October. Included with the sale is the Pontoon boat (no working motor), 2 kayaks, 1 canoe, 1 paddle boat, full contents of the cottage, full contents of the shed, and outdoor patio furniture, truly a turn-key seasonal retreat, just bring your bags and enjoy the lake!

3. 2026-05-20
   listed $70,000 Active

   Show marketing remark (990 chars)

   Welcome to Green Lake Resort Club, a private, member-owned seasonal community on the shores of Green Lake. This charming waterfront cottage is your perfect Michigan summer escape!One of a few 2-bedroom units in the community, a rare find within the Club. Enjoy direct waterfront access, stunning lake views, and the relaxed pace of resort-style living. This listing is for the cottage/structure only, not the real estate. The community operates on a shared well serving all 25 cottages, with an individual septic system for each unit. Membership into the Green Lake Resort Club is required and subject to board approval. This is a seasonal community with access from the last Saturday of April through the last Saturday of October. Included with the sale is the Pontoon boat (no working motor), 2 kayaks, 1 canoe, 1 paddle boat, full contents of the cottage, full contents of the shed, and outdoor patio furniture, truly a turn-key seasonal retreat, just bring your bags and enjoy the lake!

4. 2017-10-19
   historical
5. 2017-08-08
   historical
6. 2017-07-21
   listed $59,000 Active
7. 2017-07-19
   listed $59,000

ⓘ 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 (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,989
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,039
• − Management: −$1,039
• − HOA: −$1,500
• − Depreciation: −$2,036
• Taxable income: $2,054
• Est. tax owed @ 24.0%: −$493
• After-tax cash flow: $2,464/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: Belding Area School District
• NCES district ID: 2604530
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 31% ▼ -8.00%
• Median HH income: $46,310
• Composite: 23.33/100
• National rank: #7915
• State rank: #398 of 540 in MI

Livability — Grattan

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 11,292

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Iranian 7% Romanian 4% Lithuanian 3%
• Foreign-born: 1% · Canada, China
• Languages at home: 95% English-only · Spanish 3% Russian/Polish/Slavic 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: ▲ 13.30%
• Current HPI: 412.5108
• 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

+18.6% since first listed

7 events — show timeline

• 2026-05-20 Listed $70,000 SW Michigan MLS
• 2026-05-20 Listed $70,000 REALCOMP
• 2026-05-20 Listed $70,000 MiRealSource-MiMLS
• 2017-10-19 Listing Removed — REALCOMP
• 2017-08-08 Listing Removed — SW Michigan MLS
• 2017-07-21 Listed $59,000 SW Michigan MLS
• 2017-07-19 Listed $59,000 REALCOMP