The Harper Plan · Georgetown, MI 49428

$498,400

4 bd · 2.5 ba · 2,450 sqft · SingleFamily · 430 Days on market

Good condition

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +6.2/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Cash flow +0.9/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the NEW Harper plan! This home is a beautiful two-story with open concept living, a complete open gathering room, a large chef's kitchen, and plenty of other beautiful craftsmanship found throughout the home. This plan features 3 bedrooms upstairs and the owner's suite on the main floor. Enjoy the separate flex room, perfect for an office, a movie room, or even an at-home workout space. Explore all the possibilities with the Harper and build your dream home today!

Key facts

• 2 garage spots
• Listed 429 days

🏗️ New construction. The $498,400 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $612,270.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $498k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-3k ($-31k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (51.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (57.8% below list).
• Recommended offer: $211k (57.8% below list) — sets the bar for 1% rule.
• Cap rate 1.3% vs local median 2.6% in Georgetown — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Georgetown Elementary School (math 67% / reading 74%, grade A-, #70 of 1,397 statewide, top 5%, 581 students, 10% FRL); Baldwin Street Middle School (math 48% / reading 73%, grade B+, #51 of 493 statewide, top 11%, 844 students, 13% FRL); Hudsonville High School (math 52% / reading 68%, grade C+, #73 of 713 statewide, top 11%, 1,513 students, 12% FRL) — zoned schools at 11% FRL track the district average.
• Market conditions: 204 active listings in the ZIP; solid renter incomes; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Ottawa County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 430 days — a 12% lower offer ($439k) is reasonable based on typical stale-listing flexibility.

Recommended offer $210,528 (57.8% 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 430 days. Have you received any prior offers? Is the seller open to a 58% concession, seller financing, or rate buy-down credit?
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. 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: 0.34% ✗
• Cap rate: 1.26%
• Cash-on-cash: -17.98%
• DSCR: 0.20
• GRM: 24.2

CMA / ARV

• ARV (median comp): $612,270
• List price: $498,400
• Delta: -18.60%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8316 Bauerridge Ave	0.38mi	4/2.5	2,407 (-2%)	6mo	$589,900	$245	75
8089 Eagle Peak Dr	0.48mi	4/2.5	2,434 (-1%)	3mo	$595,000	$244	74
8366 Bauerridge Ave	0.36mi	4/2.5	2,255 (-8%)	0mo	$560,000	$248	70
8292 Bauer Rdg Ave	0.39mi	4/2.5	2,602 (+6%)	9mo	$589,900	$227	64
3353 Eagle Peak Dr	0.32mi	4/2.5	2,308 (-6%)	17mo	$550,000	$238	61
8273 Eagle Peak Dr	0.31mi	4/2.5	2,675 (+9%)	14mo	$595,900	$223	59
8380 Bauerridge Ave	0.36mi	3/3.5 (-1)	2,726 (+11%)	1mo	$559,900	$205	54
8474 Twin Lakes Dr	0.57mi	4/3.5	2,643 (+8%)	10mo	$512,000	$194	48
8271 Ironstone Ave	0.48mi	4/3.0	2,225 (-9%)	15mo	$455,000	$204	48
8306 Eagle Peak Dr	0.32mi	5/3.0 (+1)	2,758 (+13%)	12mo	$514,500	$187	47
8540 Twin Lakes Dr	0.65mi	5/3.0 (+1)	2,266 (-8%)	5mo	$550,000	$243	46
8643 Twin Lakes Dr	0.74mi	4/2.5	2,813 (+15%)	16mo	$540,000	$192	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -52.4%
• Equity multiple: -0.53×
• Total profit: $-262,745
• Equity at exit: $91,291

10-year hold

• IRR: —
• Equity multiple: -1.56×
• Total profit: $-439,278
• Equity at exit: $52,938

Cash invested: $171,436 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 27 active · 10 under contract
• Months of supply: 13.5 mo (7%/mo absorbed)
• Median asking: $566,000 ($245/sqft)
• Median days on market: 109 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +2.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 49428

• Active inventory: 204
• Price-to-rent: 19.7×

Monthly cashflow live

• Estimated rent: $2,105 medium
• Mortgage (P&I): −$3,211
• Tax est. 1.5%: −$765 /mo · $9,184/yr
• Insurance: −$255
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $-2,568

Break-even live

Break-even rent $5,356

Max offer price $240,663

Occupancy floor —

Sensitivity live

Price	-10% $-2,145	-5% $-2,357	+0% $-2,568	+5% $-2,780	+10% $-2,991
Rent	-10% $-2,734	-5% $-2,651	+0% $-2,568	+5% $-2,485	+10% $-2,402
Rate	-1.0pp $-2,260	-0.5pp $-2,412	base $-2,568	+0.5pp $-2,727	+1.0pp $-2,888

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: $153,067
• Closing costs: $18,368
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-08-08
   days on market $498,400 Active 430 DOM
2. 2026-08-07
   days on market $498,400 Active 429 DOM
3. 2026-08-06
   days on market $498,400 Active 428 DOM
4. 2026-08-05
   days on market $498,400 Active 427 DOM
5. 2026-08-04
   days on market $498,400 Active 426 DOM
6. 2026-08-03
   days on market $498,400 Active 425 DOM
7. 2026-07-31
   days on market $498,400 Active 422 DOM
8. 2026-07-30
   days on market $498,400 Active 421 DOM
9. 2026-07-30
   days on market $498,400 Active 420 DOM
10. 2026-07-28
    days on market $498,400 Active 419 DOM
11. 2026-07-26
    days on market $498,400 Active 417 DOM
12. 2026-07-25
    days on market $498,400 Active 416 DOM
13. 2026-07-24
    days on market $498,400 Active 415 DOM
14. 2026-07-23
    days on market $498,400 Active 414 DOM
15. 2026-07-22
    days on market $498,400 Active 413 DOM
16. 2026-07-21
    days on market $498,400 Active 412 DOM
17. 2026-07-18
    days on market $498,400 Active 409 DOM
18. 2026-07-16
    days on market $498,400 Active 407 DOM
19. 2026-07-16
    days on market $498,400 Active 406 DOM
20. 2026-07-14
    days on market $498,400 Active 405 DOM
21. 2026-07-13
    days on market $498,400 Active 404 DOM
22. 2026-07-12
    days on market $498,400 Active 403 DOM
23. 2026-07-11
    days on market $498,400 Active 402 DOM
24. 2026-07-10
    days on market $498,400 Active 401 DOM
25. 2026-07-09
    days on market $498,400 Active 400 DOM
26. 2026-07-07
    days on market $498,400 Active 398 DOM
27. 2026-07-06
    days on market $498,400 Active 397 DOM
28. 2026-07-05
    days on market $498,400 Active 396 DOM
29. 2026-07-03
    days on market $498,400 Active 394 DOM
30. 2026-07-02
    days on market $498,400 Active 393 DOM
31. 2026-07-01
    days on market $498,400 Active 392 DOM
32. 2026-06-30
    days on market $498,400 Active 391 DOM
33. 2026-06-29
    days on market $498,400 Active 390 DOM
34. 2026-06-28
    days on market $498,400 Active 389 DOM
35. 2026-06-28
    days on market $498,400 Active 388 DOM
36. 2026-06-27
    days on market $498,400 Active 387 DOM
37. 2026-06-25
    days on market $498,400 Active 385 DOM
38. 2026-06-23
    days on market $498,400 Active 383 DOM
39. 2026-06-21
    days on market $498,400 Active 382 DOM
40. 2026-06-18
    days on market $498,400 Active 379 DOM
41. 2026-06-17
    days on market $498,400 Active 378 DOM
42. 2026-06-16
    days on market $498,400 Active 377 DOM
43. 2026-06-15
    days on market $498,400 Active 376 DOM
44. 2026-06-14
    days on market $498,400 Active 374 DOM
45. 2026-06-10
    days on market $498,400 Active 371 DOM
46. 2026-06-09
    days on market $498,400 Active 370 DOM
47. 2026-06-08
    days on market $498,400 Active 369 DOM
48. 2026-06-07
    days on market $498,400 Active 368 DOM
49. 2026-06-03
    days on market $498,400 Active 364 DOM
50. 2026-06-03
    days on market $498,400 Active 363 DOM

ⓘ 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: $25,263
• − Mortgage interest: −$34,297
• − Property taxes: −$9,184
• − Insurance: −$3,061
• − Repairs & maintenance: −$2,021
• − Management: −$2,021
• − Depreciation: −$17,811
• Taxable loss: −$43,132
• Est. tax savings @ 24.0%: +$10,352
• After-tax cash flow: $-20,465/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $12,250–$36,750 screening

This two-story home is in good condition with a fresh exterior and interior. It's move-in ready with minor maintenance needed.

Value-add opportunities

• Resale Paint exterior — Fresh paint can enhance curb appeal and home value ↑
• Rental Replace carpets — Fresh carpets can improve tenant satisfaction and reduce maintenance costs ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 62/100

Zoned Schools

Elementary Bauer Elementary School B+ MI #105/1,397 Nat'l #4,366/41,679 Middle Baldwin Street Middle School B+ MI #51/493 Nat'l #1,738/14,009 High Hudsonville High School C+ MI #73/713 Nat'l #3,545/17,239

Schools (NCES district)

• District: Hudsonville Public School District
• NCES district ID: 2618840
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 70% ▼ -4.00%
• Median HH income: $69,784
• Composite: 54.98/100
• National rank: #1301
• State rank: #32 of 540 in MI

Livability — Georgetown

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

Census & demographics

• County: Ottawa · 313,561 people
• Metro: Grand Rapids-Wyoming-Kentwood, MI
• Population (ZIP): 28,090
• Household income: $92,290
• Rent vs Own: 15.2% rent · 84.8% own
• Severe rent burden: 19% of renters

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Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 313,561 people
• By 2030: 330,027 · +5.3%
• By 2040: 361,118 · +15.2%
• By 2050: 388,414 · +23.9%
• By 2075: 452,175 · +44.2%
• By 2100: 473,041 · +50.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 3% Asian 1%
• Common ancestry: Iranian 37% Romanian 8% Lithuanian 3%
• Foreign-born: 2% · Canada, China, South Korea
• Languages at home: 97% English-only · Spanish 2%

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Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+20.4) · D 39.0% · R 59.5% · Other 1.5%
• 2008→2024 swing: +3.4pp toward D · 2008: -23.9pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+21.5 2016: R+30.4 2012: R+34.2 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -234.19%
• Current HPI: 264.7304
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

+0.5% since first listed

3 events — show timeline

• 2026-04-03 Price Changed $498,400 Zillow
• 2025-07-15 Price Changed $508,400 Zillow
• 2025-06-04 Listed $495,900 Zillow