7957 Westside Dr

Jenison, MI 49426

$399,900F

4 bd · 2.0 ba · 1,074 sqft · Built 2001 · SingleFamily · Pending · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,490/mo
• Mortgage (P&I): −$2,097
• Tax + insurance: −$424
• HOA: −$0
• Vac / Maint / Mgmt: −$523
• Net cashflow: $-553/mo
• Annual: $-6,642/yr
• Cap rate: 4.63%
• Cash-on-cash: -5.93%
• DSCR: 0.74
• 1% rule: 0.62%
• Cash to close: $111,972

Investor read

• This is a 4-bed/2.0-bath single-family listed at $400k.
• At list price, monthly cash flow is $-553 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (24.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $249k (37.7% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $249k (37.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• 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.
• Hudsonville Public School District (suburban): math 55% / reading 70% proficiency, ranked #32 of 540 in MI (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 212 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).
• Ottawa County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 26y 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 $183k; list at $400k implies a 118% gain — meaningful room to come down on a strong offer.
• Cap rate 4.6% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.