2066 Linden Ave SE · Grand Rapids, MI 49507

$235,000

3 bd · 1.5 ba · 1,387 sqft · Condo · 312 Days on market

Built 2024 Excellent condition $169/sqft · 18% below area Est $288k · 18% under ↓ 9% since listing

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Why this score? — see what drove the C- 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 +14.0/30.0
• Condition / age +5.0/5.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• Rent growth +3.7/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own your future in Grand Rapids with this brand-new, modern home! Thoughtfully designed for comfort, style, and efficiency, this move-in-ready home features quality craftsmanship and designer finishes. Choose from five unique models to fit your lifestyle. Offered through the Dwelling Place Community Land Trust (DPCLT), this opportunity makes homeownership more accessible and affordable. Visit www. dpclt.org to learn more and see if you qualify. Don't miss this incredible chance for affordable homeownership! Photos from similar home/model. Buyer and buyer's agent to verify all information.

Key facts

• 3,920 sq ft lot
• Built 2024
• Listed 312 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $235k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $30 ($366/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 $209k (10.9% below list).
• Recommended offer: $207k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 41% 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 $7k 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 312 days — a 12% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $22k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $206,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 312 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. 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?
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. 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 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: 0.89% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.56%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (median comp): $288,235
• List price: $235,000
• Delta: -18.47%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.5%
• Equity multiple: 0.51×
• Total profit: $-32,378
• Equity at exit: $35,039

10-year hold

• IRR: -2.0%
• Equity multiple: 0.85×
• Total profit: $-9,708
• Equity at exit: $20,319

Cash invested: $65,800 (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: $2,094 high
• Mortgage (P&I): −$1,232
• Tax est. 1.5%: −$294 /mo · $3,525/yr
• Insurance: −$98
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $30

Break-even live

Break-even rent $2,056

Max offer price $235,000

Occupancy floor 94%

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
950 Merritt St SE Grand Rapids, MI	3.0	1.0	1000	$2,100	$2.10	43d	1	0.34mi
1031 Merrifield St SE Grand Rapids, MI	3.0	2.0	1238	$2,300	$1.86	14d	1	0.43mi
1057 Griggs St SE Grand Rapids, MI	2.0	1.0	1100	$1,550	$1.41	43d	1	0.56mi
2551 Eastern Ave SE Unit 1 Grand Rapids, MI	3.0	2.0	1600	$2,100	$1.31	43d	1	0.63mi
1555 Margaret Ave SE Grand Rapids, MI	2.0	1.0	900	$1,500	$1.67	14d	1	1.07mi
242 Elm St SW Grand Rapids, MI	2.0	1.5	1100	$3,200	$2.91	2d	1	1.23mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	43d	1	1.25mi
1027 Underwood Ave SE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	14d	1	1.36mi
2928 Vineland Ave SE Unit 2928 Grand Rapids, MI	2.0	1.0	1000	$1,450	$1.45	23d	1	1.37mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-16
   statusdays on market $235,000 Pending 312 DOM
2. 2026-06-15
   days on market $235,000 Active 311 DOM
3. 2026-06-14
   days on market $235,000 Active 309 DOM
4. 2026-06-13
   days on market $235,000 Active 308 DOM
5. 2026-06-10
   days on market $235,000 Active 306 DOM
6. 2026-06-09
   days on market $235,000 Active 305 DOM
7. 2026-06-08
   days on market $235,000 Active 304 DOM
8. 2026-06-07
   days on market $235,000 Active 303 DOM
9. 2026-06-05
   days on market $235,000 Active 300 DOM
10. 2026-06-03
    days on market $235,000 Active 299 DOM
11. 2026-06-03
    days on market $235,000 Active 298 DOM
12. 2026-06-01
    days on market $235,000 Active 297 DOM
13. 2026-05-31
    days on market $235,000 Active 296 DOM
14. 2026-05-03
    price $235,000 595-char remark

    Show marketing remark (595 chars)

    Own your future in Grand Rapids with this brand-new, modern home! Thoughtfully designed for comfort, style, and efficiency, this move-in-ready home features quality craftsmanship and designer finishes. Choose from five unique models to fit your lifestyle. Offered through the Dwelling Place Community Land Trust (DPCLT), this opportunity makes homeownership more accessible and affordable. Visit www. dpclt.org to learn more and see if you qualify. Don't miss this incredible chance for affordable homeownership! Photos from similar home/model. Buyer and buyer's agent to verify all information.

15. 2026-05-02
    price $235,000 595-char remark

    Show marketing remark (595 chars)

    Own your future in Grand Rapids with this brand-new, modern home! Thoughtfully designed for comfort, style, and efficiency, this move-in-ready home features quality craftsmanship and designer finishes. Choose from five unique models to fit your lifestyle. Offered through the Dwelling Place Community Land Trust (DPCLT), this opportunity makes homeownership more accessible and affordable. Visit www. dpclt.org to learn more and see if you qualify. Don't miss this incredible chance for affordable homeownership! Photos from similar home/model. Buyer and buyer's agent to verify all information.

16. 2026-05-02
    price $235,000

    Show marketing remark (595 chars)

    Own your future in Grand Rapids with this brand-new, modern home! Thoughtfully designed for comfort, style, and efficiency, this move-in-ready home features quality craftsmanship and designer finishes. Choose from five unique models to fit your lifestyle. Offered through the Dwelling Place Community Land Trust (DPCLT), this opportunity makes homeownership more accessible and affordable. Visit www. dpclt.org to learn more and see if you qualify. Don't miss this incredible chance for affordable homeownership! Photos from similar home/model. Buyer and buyer's agent to verify all information.

17. 2025-08-01
    listed $257,250 Active 595-char remark

    Show marketing remark (595 chars)

    Own your future in Grand Rapids with this brand-new, modern home! Thoughtfully designed for comfort, style, and efficiency, this move-in-ready home features quality craftsmanship and designer finishes. Choose from five unique models to fit your lifestyle. Offered through the Dwelling Place Community Land Trust (DPCLT), this opportunity makes homeownership more accessible and affordable. Visit www. dpclt.org to learn more and see if you qualify. Don't miss this incredible chance for affordable homeownership! Photos from similar home/model. Buyer and buyer's agent to verify all information.

18. 2025-08-01
    listed $257,250 Active 595-char remark

    Show marketing remark (595 chars)

    Own your future in Grand Rapids with this brand-new, modern home! Thoughtfully designed for comfort, style, and efficiency, this move-in-ready home features quality craftsmanship and designer finishes. Choose from five unique models to fit your lifestyle. Offered through the Dwelling Place Community Land Trust (DPCLT), this opportunity makes homeownership more accessible and affordable. Visit www. dpclt.org to learn more and see if you qualify. Don't miss this incredible chance for affordable homeownership! Photos from similar home/model. Buyer and buyer's agent to verify all information.

19. 2025-08-01
    listed $257,250 Active

    Show marketing remark (595 chars)

    Own your future in Grand Rapids with this brand-new, modern home! Thoughtfully designed for comfort, style, and efficiency, this move-in-ready home features quality craftsmanship and designer finishes. Choose from five unique models to fit your lifestyle. Offered through the Dwelling Place Community Land Trust (DPCLT), this opportunity makes homeownership more accessible and affordable. Visit www. dpclt.org to learn more and see if you qualify. Don't miss this incredible chance for affordable homeownership! Photos from similar home/model. Buyer and buyer's agent to verify all information.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $25,132
• − Mortgage interest: −$13,164
• − Property taxes: −$3,525
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,011
• − Management: −$2,011
• − Depreciation: −$6,836
• Taxable loss: −$3,589
• Est. tax savings @ 24.0%: +$861
• After-tax cash flow: $1,227/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.

Condition & rehab AI · 6 photos

Excellent 100/100 None rehab

This move-in-ready, modern home in Grand Rapids is in excellent condition with no visible repairs or maintenance needed. It offers a great opportunity for affordable homeownership and can be further enhanced with minor updates to boost its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Adding smart home features — Smart home technology can increase both resale and rental value.
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters.
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and property value.
• Both Adding a smart thermostat — Energy-efficient systems can lower utility costs and appeal to eco-conscious buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Adding smart home features — Smart home technology can increase both resale and rental value. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Landscaping improvements — Enhanced landscaping can boost curb appeal and property value. ↑
• Both Adding a smart thermostat — Energy-efficient systems can lower utility costs and appeal to eco-conscious buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-8.6% since first listed

6 events — show timeline

• 2026-05-03 Price Changed $235,000 MiRealSource-MiMLS
• 2026-05-02 Price Changed $235,000 REALCOMP
• 2026-05-02 Price Changed $235,000 SW Michigan MLS
• 2025-08-01 Listed $257,250 SW Michigan MLS
• 2025-08-01 Listed $257,250 REALCOMP
• 2025-08-01 Listed $257,250 MiRealSource-MiMLS