1111 Ionia Ave SW · Grand Rapids, MI 49507

$250,000

4 bd · 1.0 ba · 1,656 sqft · SingleFamily public records · 87 Days on market

Built 1905 4,712 sqft lot $151/sqft · at area comps Est $240k · at est.

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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 +14.4/30.0
• ARV discount +5.5/15.0
• DSCR +4.4/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• 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

This renovated 4-bedroom, 2-bath home is ready to impress! Thoughtfully updated, it features a bright, refreshed interior and a stylish kitchen with all new appliances. The versatile floor plan offers comfortable living spaces and spacious bedrooms, while two full baths and a new washer and dryer on the main floor add everyday convenience. Completing the home is an attached two-stall garage, offering both functionality and storage. A perfect blend of modern updates and livable design-- move in and enjoy!

Key facts

• 4,712 sq ft lot
• 2 garage spots
• Built 1905

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $52 ($629/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 $222k (11.2% below list).
• Recommended offer: $222k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: Burton Middle School (math 2% / reading 8%, grade F, #488 of 493 statewide, top 100%, 482 students, 89% FRL); Union High School (math 2% / reading 12%, grade F, #699 of 713 statewide, top 99%, 922 students, 88% FRL).
• Zoned-school proficiency averages 6% at this address vs 22% district-wide (-16 pts) — the specific schools serving this property underperform the Grand Rapids Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.7%/yr); 178 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 43% 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 $8k 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

• It's been on market 87 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 2y 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 $130k; list at $250k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $221,953 (11.2% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.90%
• DSCR: 1.04
• GRM: 9.4

CMA / ARV

• ARV (median comp): $239,512
• List price: $250,000
• Delta: 4.38%
• Verdict: FAIR
• Comps: 20 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.0%
• Equity multiple: 0.53×
• Total profit: $-33,201
• Equity at exit: $37,276

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-7,733
• Equity at exit: $21,615

Cash invested: $70,000 (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: 9.4×

Monthly cashflow live

• Estimated rent: $2,220 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$286 /mo · $3,430/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $52

Break-even live

Break-even rent $2,153

Max offer price $250,000

Occupancy floor 93%

Sensitivity live

Price	-10% $194	-5% $123	+0% $52	+5% $-18	+10% $-89
Rent	-10% $-123	-5% $-35	+0% $52	+5% $140	+10% $228
Rate	-1.0pp $178	-0.5pp $116	base $52	+0.5pp $-12	+1.0pp $-78

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	45d	1	0.51mi
425 Woodlawn St SE Grand Rapids, MI	4.0	1.0	2072	$2,200	$1.06	45d	1	0.61mi
1019 Norwich Ave SW Grand Rapids, MI	3.0	1.0	1214	$1,595	$1.31	5d	1	0.89mi
350 Ionia Ave SW Grand Rapids, MI	2.0–3.0	2.0–3.0	1400	$1,350	$0.96	13d	2	0.94mi
816 Kensington Ave SW Grand Rapids, MI	3.0	1.0	1600	$1,750	$1.09	23d	1	0.99mi
550 Union Ave SE Grand Rapids, MI	3.0	1.5	1743	$2,800	$1.61	45d	1	1.05mi
729 Bates St SE Unit 1 Grand Rapids, MI	4.0	3.5	1576	$2,395	$1.52	45d	1	1.08mi
209 Division Ave S Grand Rapids, MI	1.0–3.0	1.0–2.0	1180	$1,495	$1.27	23d	2	1.12mi
414 Paris Ave SE Grand Rapids, MI	3.0	1.5	1700	$2,850	$1.68	45d	1	1.13mi
154 Straight Ave SW Grand Rapids, MI	5.0	2.0	1900	$2,500	$1.32	45d	1	1.47mi

Listing history 43 events

1. 2026-06-21
   days on market $250,000 Active 87 DOM
2. 2026-06-18
   days on market $250,000 Active 84 DOM
3. 2026-06-17
   days on market $250,000 Active 83 DOM
4. 2026-06-16
   days on market $250,000 Active 82 DOM
5. 2026-06-15
   days on market $250,000 Active 81 DOM
6. 2026-06-14
   days on market $250,000 Active 79 DOM
7. 2026-06-13
   days on market $250,000 Active 78 DOM
8. 2026-06-10
   days on market $250,000 Active 76 DOM
9. 2026-06-09
   days on market $250,000 Active 75 DOM
10. 2026-06-08
    days on market $250,000 Active 74 DOM
11. 2026-06-07
    days on market $250,000 Active 73 DOM
12. 2026-06-05
    days on market $250,000 Active 70 DOM
13. 2026-06-03
    days on market $250,000 Active 69 DOM
14. 2026-06-03
    days on market $250,000 Active 68 DOM
15. 2026-06-01
    days on market $250,000 Active 67 DOM
16. 2026-05-31
    days on market $250,000 Active 66 DOM
17. 2026-03-26
    listed $250,000 Active 509-char remark

    Show marketing remark (509 chars)

    This renovated 4-bedroom, 2-bath home is ready to impress! Thoughtfully updated, it features a bright, refreshed interior and a stylish kitchen with all new appliances. The versatile floor plan offers comfortable living spaces and spacious bedrooms, while two full baths and a new washer and dryer on the main floor add everyday convenience. Completing the home is an attached two-stall garage, offering both functionality and storage. A perfect blend of modern updates and livable design-- move in and enjoy!

18. 2026-03-26
    listed $250,000 Active 509-char remark

    Show marketing remark (509 chars)

    This renovated 4-bedroom, 2-bath home is ready to impress! Thoughtfully updated, it features a bright, refreshed interior and a stylish kitchen with all new appliances. The versatile floor plan offers comfortable living spaces and spacious bedrooms, while two full baths and a new washer and dryer on the main floor add everyday convenience. Completing the home is an attached two-stall garage, offering both functionality and storage. A perfect blend of modern updates and livable design-- move in and enjoy!

19. 2026-03-26
    listed $250,000 Active

    Show marketing remark (509 chars)

    This renovated 4-bedroom, 2-bath home is ready to impress! Thoughtfully updated, it features a bright, refreshed interior and a stylish kitchen with all new appliances. The versatile floor plan offers comfortable living spaces and spacious bedrooms, while two full baths and a new washer and dryer on the main floor add everyday convenience. Completing the home is an attached two-stall garage, offering both functionality and storage. A perfect blend of modern updates and livable design-- move in and enjoy!

20. 2026-03-11
    historical
21. 2026-03-10
    historical
22. 2026-02-11
    price $250,000
23. 2026-02-11
    price $250,000
24. 2026-02-11
    price $250,000
25. 2026-01-30
    price $265,000
26. 2026-01-29
    price $265,000
27. 2026-01-29
    price $265,000
28. 2026-01-22
    listed $275,000 Active
29. 2026-01-22
    listed $275,000 Active
30. 2024-12-30
    soldstatus $130,000 Closed
31. 2024-12-30
    soldstatus $130,000 Sold
32. 2024-12-30
    soldstatus $130,000 Closed
33. 2024-12-17
    status Pending
34. 2024-12-12
    status Pending
35. 2024-12-12
    status Pending
36. 2024-12-12
    status Pending
37. 2024-11-27
    listed $135,000 Active
38. 2024-11-27
    listed $135,000 Active
39. 2024-11-27
    listed $135,000 Active
40. 2024-11-16
    historical
41. 2024-11-15
    historical
42. 2024-10-08
    listed $149,900 Active
43. 2024-10-08
    listed $149,900 Active

ⓘ 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: $3,430 · $286/mo
• Projected year-2 tax: $3,640 · $303/mo
• Expected delta: +$210/yr (+$18/mo · 6.1%)

ⓘ 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: $26,634
• − Mortgage interest: −$14,004
• − Property taxes: −$3,430
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,131
• − Management: −$2,131
• − Depreciation: −$7,273
• Taxable loss: −$3,583
• Est. tax savings @ 24.0%: +$860
• After-tax cash flow: $1,489/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

+66.8% since first listed

27 events — show timeline

• 2026-03-26 Listed $250,000 SW Michigan MLS
• 2026-03-26 Listed $250,000 REALCOMP
• 2026-03-26 Listed $250,000 MiRealSource-MiMLS
• 2026-03-11 Listing Removed — MiRealSource-MiMLS
• 2026-03-10 Listing Removed — REALCOMP
• 2026-02-11 Price Changed $250,000 MiRealSource-MiMLS
• 2026-02-11 Price Changed $250,000 REALCOMP
• 2026-02-11 Price Changed $250,000 SW Michigan MLS
• 2026-01-30 Price Changed $265,000 MiRealSource-MiMLS
• 2026-01-29 Price Changed $265,000 REALCOMP
• 2026-01-29 Price Changed $265,000 SW Michigan MLS
• 2026-01-22 Listed $275,000 REALCOMP
• 2026-01-22 Listed $275,000 MiRealSource-MiMLS
• 2024-12-30 Sold (MLS) $130,000 MiRealSource-MiMLS
• 2024-12-30 Sold (MLS) $130,000 SW Michigan MLS
• 2024-12-30 Sold (MLS) $130,000 REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2024-12-12 Pending — REALCOMP
• 2024-12-12 Pending — MiRealSource-MiMLS
• 2024-12-12 Pending — SW Michigan MLS
• 2024-11-27 Listed $135,000 MiRealSource-MiMLS
• 2024-11-27 Listed $135,000 SW Michigan MLS
• 2024-11-27 Listed $135,000 REALCOMP
• 2024-11-16 Listing Removed — MiRealSource-MiMLS
• 2024-11-15 Listing Removed — REALCOMP
• 2024-10-08 Listed $149,900 MiRealSource-MiMLS
• 2024-10-08 Listed $149,900 REALCOMP

Property tax history

+12.0%/yr

Latest (2025): $3,430 · +156.0% YoY. Source: county tax records.