10109 W Wise Rd · Eureka, MI 48838

$259,900

2 bd · 1.0 ba · 1,519 sqft · SingleFamily · 48 Days on market

Built 1948 2.00 ac lot $171/sqft · 17% below area Est $313k · 17% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.4/30.0
• Schools +3.7/10.0
• 1% rule +2.8/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom, 1-bath ranch on 2 peaceful acres with major updates already completed! Improvements include a new metal roof, new furnace, updated electrical, new siding, and kitchen updates--giving peace of mind on the big-ticket items. Enjoy convenient one-level living, a spacious yard with room to roam, and a white picket fenced area that adds curb appeal and charm. Located just a short drive from the town of Greenville, you'll enjoy country living with nearby conveniences. Full of character, privacy, and potential, this unique property is ready for its next owner. Schedule your showing today!

Key facts

• Spacious yard
• New metal roof
• New furnace

Tags

• NEW METAL ROOF
• NEW FURNACE
• UPDATED ELECTRICAL
• NEW SIDING
• KITCHEN UPDATES
• SPACIOUS YARD

Property features AI

Finance

• Other: Property is residential single-family; Lot size approximately 2.0 acres; Living area reported as 1,519

Exterior

• Parking: Attached 2-car garage
• Utilities: Electricity available; High-speed internet
• Home design: Ranch-style single-family home; One story; Built in 1948
• Construction: Vinyl siding; Metal roof; Partial basement foundation
• Exterior features: Paved road access; Well water

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central cooling (has cooling)
• Interior features: Eat-in kitchen; Five total rooms; Partial Michigan-style basement
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (10.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (21.5% below list).
• Recommended offer: $204k (21.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Greenville Public Schools (town): math 35% / reading 52% proficiency, ranked #167 of 540 in MI (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 192 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 273 units permitted in Montcalm County in 2024 (5 in 5+ unit buildings).
• This rent runs 35% of the median local income ($70k/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.
• Montcalm County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 3y ago; this cycle's ask has dropped $30k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; list at $260k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $203,915 (21.5% below list)

Questions for the listing agent

1. 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?
2. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.05%
• DSCR: 0.86
• GRM: 10.6

CMA / ARV

• ARV (median comp): $312,922
• List price: $259,900
• Delta: -16.94%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.4%
• Equity multiple: 0.26×
• Total profit: $-53,879
• Equity at exit: $38,752

10-year hold

• IRR: -15.0%
• Equity multiple: 0.15×
• Total profit: $-61,979
• Equity at exit: $22,471

Cash invested: $72,772 (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 48838

• Home prices YoY: -30.2%
• Active inventory: 192
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,039 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,898/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-185

Break-even live

Break-even rent $2,274

Max offer price $233,104

Occupancy floor —

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1310 Timber Hollow Ct Greenville, MI	3.0	2.5	1450	$2,295	$1.58	43d	1	0.94mi
1310 Timber Hollow Ct Greenville, MI	3.0	2.5	1450	$1,895	$1.31	14d	1	0.94mi
1301 Timber Hollow Ct Greenville, MI	3.0	2.5	1450	$2,295	$1.58	43d	1	0.97mi
1301 Timber Hollow Ct Greenville, MI	3.0	2.5	1450	$1,895	$1.31	2d	1	0.97mi
1310 Trail View Dr Greenville, MI	3.0	2.5	1450	$2,195	$1.51	10d	1	0.99mi
1305 Trail View Dr Greenville, MI	3.0	2.5	1450	$2,295	$1.58	2d	1	1.01mi

Listing history 35 events

1. 2026-06-18
   days on market $259,900 Active 48 DOM
2. 2026-06-17
   days on market $259,900 Active 47 DOM
3. 2026-06-16
   days on market $259,900 Active 46 DOM
4. 2026-06-15
   days on market $259,900 Active 45 DOM
5. 2026-06-14
   days on market $259,900 Active 43 DOM
6. 2026-06-13
   pricedays on market $259,900 Active 42 DOM
7. 2026-06-10
   days on market $269,900 Active 40 DOM
8. 2026-06-09
   days on market $269,900 Active 39 DOM
9. 2026-06-08
   days on market $269,900 Active 38 DOM
10. 2026-06-07
    days on market $269,900 Active 37 DOM
11. 2026-06-03
    pricedays on market $269,900 Active 33 DOM

    Show marketing remark (607 chars)

    Charming 2-bedroom, 1-bath ranch on 2 peaceful acres with major updates already completed! Improvements include a new metal roof, new furnace, updated electrical, new siding, and kitchen updates--giving peace of mind on the big-ticket items. Enjoy convenient one-level living, a spacious yard with room to roam, and a white picket fenced area that adds curb appeal and charm. Located just a short drive from the town of Greenville, you'll enjoy country living with nearby conveniences. Full of character, privacy, and potential, this unique property is ready for its next owner. Schedule your showing today!

12. 2026-06-03
    days on market $275,000 Active 32 DOM

    Show marketing remark (607 chars)

    Charming 2-bedroom, 1-bath ranch on 2 peaceful acres with major updates already completed! Improvements include a new metal roof, new furnace, updated electrical, new siding, and kitchen updates--giving peace of mind on the big-ticket items. Enjoy convenient one-level living, a spacious yard with room to roam, and a white picket fenced area that adds curb appeal and charm. Located just a short drive from the town of Greenville, you'll enjoy country living with nearby conveniences. Full of character, privacy, and potential, this unique property is ready for its next owner. Schedule your showing today!

13. 2026-06-01
    days on market $275,000 Active 31 DOM
14. 2026-05-31
    days on market $275,000 Active 30 DOM
15. 2026-05-01
    listed $289,900 Active 607-char remark

    Show marketing remark (607 chars)

    Charming 2-bedroom, 1-bath ranch on 2 peaceful acres with major updates already completed! Improvements include a new metal roof, new furnace, updated electrical, new siding, and kitchen updates--giving peace of mind on the big-ticket items. Enjoy convenient one-level living, a spacious yard with room to roam, and a white picket fenced area that adds curb appeal and charm. Located just a short drive from the town of Greenville, you'll enjoy country living with nearby conveniences. Full of character, privacy, and potential, this unique property is ready for its next owner. Schedule your showing today!

16. 2026-05-01
    listed $289,900 Active 607-char remark

    Show marketing remark (607 chars)

    Charming 2-bedroom, 1-bath ranch on 2 peaceful acres with major updates already completed! Improvements include a new metal roof, new furnace, updated electrical, new siding, and kitchen updates--giving peace of mind on the big-ticket items. Enjoy convenient one-level living, a spacious yard with room to roam, and a white picket fenced area that adds curb appeal and charm. Located just a short drive from the town of Greenville, you'll enjoy country living with nearby conveniences. Full of character, privacy, and potential, this unique property is ready for its next owner. Schedule your showing today!

17. 2026-05-01
    listed $289,900 Active

    Show marketing remark (607 chars)

    Charming 2-bedroom, 1-bath ranch on 2 peaceful acres with major updates already completed! Improvements include a new metal roof, new furnace, updated electrical, new siding, and kitchen updates--giving peace of mind on the big-ticket items. Enjoy convenient one-level living, a spacious yard with room to roam, and a white picket fenced area that adds curb appeal and charm. Located just a short drive from the town of Greenville, you'll enjoy country living with nearby conveniences. Full of character, privacy, and potential, this unique property is ready for its next owner. Schedule your showing today!

18. 2023-07-06
    soldstatus $110,000
19. 2023-06-30
    soldstatus $105,000 Sold
20. 2023-06-30
    soldstatus $105,000 Sold
21. 2023-06-07
    status Pending
22. 2023-06-07
    status Pending
23. 2023-06-07
    status Pending
24. 2023-06-03
    listed $110,000 Active
25. 2023-06-03
    listed $110,000 Active
26. 2023-06-03
    listed $110,000 Active
27. 2023-05-18
    soldstatus $95,000
28. 2023-05-12
    soldstatus $95,000 Sold
29. 2023-05-12
    soldstatus $95,000 Sold
30. 2023-05-01
    status Pending
31. 2023-05-01
    status Pending
32. 2023-05-01
    status Pending
33. 2023-04-27
    listed $80,000 Active
34. 2023-04-27
    listed $80,000 Active
35. 2023-04-27
    listed $80,000 Active

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,470
• − Mortgage interest: −$14,558
• − Property taxes: −$3,898
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,958
• − Management: −$1,958
• − Depreciation: −$7,561
• Taxable loss: −$6,763
• Est. tax savings @ 24.0%: +$1,623
• After-tax cash flow: $-599/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: Greenville Public Schools
• NCES district ID: 2617160
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $44,624
• Composite: 36.81/100
• National rank: #4566
• State rank: #167 of 540 in MI

Livability — Eureka

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

Census & demographics

• County: Montcalm County · 18,212 people
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 18,212
• Household income: $70,176
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 365.0

Population outlook (Montcalm County) Hauer SSP2

• Today (2025): 61,011 people
• By 2030: 59,467 · -2.5%
• By 2040: 55,427 · -9.2%
• By 2050: 50,517 · -17.2%
• By 2075: 38,731 · -36.5%
• By 2100: 26,770 · -56.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Iranian 5% Romanian 4% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5% Chinese 1%

Political lean MEDSL · Montcalm

• 2024 margin: Solid R (+39.0) · D 29.8% · R 68.7% · Other 1.5%
• 2008→2024 swing: -38.7pp toward R · 2008: -0.3pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+37.7 2016: R+34.0 2012: R+8.6 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.31%
• Current HPI: 249.996
• Rent YoY: —
• 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

+224.9% since first listed

30 events — show timeline

• 2026-06-12 Price Changed $259,900 MiRealSource-MiMLS
• 2026-06-11 Price Changed $259,900 REALCOMP
• 2026-06-11 Price Changed $259,900 SW Michigan MLS
• 2026-06-04 Price Changed $269,900 MiRealSource-MiMLS
• 2026-06-03 Price Changed $269,900 REALCOMP
• 2026-06-03 Price Changed $269,900 SW Michigan MLS
• 2026-05-20 Price Changed $275,000 MiRealSource-MiMLS
• 2026-05-20 Price Changed $275,000 REALCOMP
• 2026-05-20 Price Changed $275,000 SW Michigan MLS
• 2026-05-01 Listed $289,900 SW Michigan MLS
• 2026-05-01 Listed $289,900 REALCOMP
• 2026-05-01 Listed $289,900 MiRealSource-MiMLS
• 2023-07-06 Sold (Public Records) $110,000 Public Records
• 2023-06-30 Sold (MLS) $105,000 SW Michigan MLS
• 2023-06-30 Sold (MLS) $105,000 REALCOMP
• 2023-06-07 Pending — MiRealSource-MiMLS
• 2023-06-07 Pending — REALCOMP
• 2023-06-07 Pending — SW Michigan MLS
• 2023-06-03 Listed $110,000 SW Michigan MLS
• 2023-06-03 Listed $110,000 MiRealSource-MiMLS
• 2023-06-03 Listed $110,000 REALCOMP
• 2023-05-18 Sold (Public Records) $95,000 Public Records
• 2023-05-12 Sold (MLS) $95,000 SW Michigan MLS
• 2023-05-12 Sold (MLS) $95,000 REALCOMP
• 2023-05-01 Pending — REALCOMP
• 2023-05-01 Pending — MiRealSource-MiMLS
• 2023-05-01 Pending — SW Michigan MLS
• 2023-04-27 Listed $80,000 MiRealSource-MiMLS
• 2023-04-27 Listed $80,000 SW Michigan MLS
• 2023-04-27 Listed $80,000 REALCOMP