The Harper Plan · Georgetown, MI 49428

$498,400

4 bd · 2.5 ba · 2,450 sqft · SingleFamily · 379 Days on market

Good condition

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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).

• Cash flow +18.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +5.5/10.0
• 1% rule +5.1/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• 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! Contact us for more information 616-667-3333

Key facts

• 2 garage spots
• Listed 379 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 — $596,944.

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 $615 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $498k).
• Recommended offer: $439k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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.
• Market conditions: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 379 days — a 12% lower offer ($439k) is reasonable based on typical stale-listing flexibility.

Recommended offer $438,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 379 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.41%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $596,944
• List price: $498,400
• Delta: -16.51%
• 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%)	4mo	$589,900	$245	76
8089 Eagle Peak Dr	0.48mi	4/2.5	2,434 (-1%)	2mo	$595,000	$244	75
8292 Bauer Rdg Ave	0.39mi	4/2.5	2,602 (+6%)	7mo	$589,900	$227	66
8143 Eagle Peak Dr	0.42mi	4/2.5	2,479 (+1%)	16mo	$575,900	$232	65
3353 Eagle Peak Dr	0.32mi	4/2.5	2,308 (-6%)	15mo	$550,000	$238	63
8291 Bauerridge Ave	0.35mi	5/3.5 (+1)	2,437 (-0%)	23mo	$488,000	$200	54
8253 Eagle Peak Dr	0.45mi	4/2.5	2,308 (-6%)	21mo	$546,210	$237	52
8474 Twin Lakes Dr	0.57mi	4/3.5	2,643 (+8%)	8mo	$512,000	$194	50
8271 Ironstone Ave	0.48mi	4/3.0	2,225 (-9%)	13mo	$455,000	$204	49
8306 Eagle Peak Dr	0.32mi	5/3.0 (+1)	2,758 (+13%)	10mo	$514,500	$187	49
8540 Twin Lakes Dr	0.65mi	5/3.0 (+1)	2,266 (-8%)	3mo	$550,000	$243	48
8643 Twin Lakes Dr	0.74mi	4/2.5	2,813 (+15%)	14mo	$540,000	$192	29

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: -9.4%
• Equity multiple: 0.66×
• Total profit: $-57,493
• Equity at exit: $89,006

10-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $713
• Equity at exit: $51,613

Cash invested: $167,144 (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 49428

• Active inventory: 142
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $6,000 medium
• Mortgage (P&I): −$3,130
• Tax est. 1.5%: −$746 /mo · $8,954/yr
• Insurance: −$249
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,260
• Net cashflow: $615

Break-even live

Break-even rent $5,222

Max offer price $596,944

Occupancy floor 85%

Sensitivity live

Price	-10% $1,027	-5% $821	+0% $615	+5% $408	+10% $202
Rent	-10% $141	-5% $378	+0% $615	+5% $852	+10% $1,089
Rate	-1.0pp $915	-0.5pp $766	base $615	+0.5pp $460	+1.0pp $303

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: $149,236
• Closing costs: $17,908
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7269 Yellowstone Dr Hudsonville, MI	4.0	3.0	2566	$6,000	$2.34	15d	1	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $498,400 Active 379 DOM
2. 2026-06-17
   days on market $498,400 Active 378 DOM
3. 2026-06-16
   days on market $498,400 Active 377 DOM
4. 2026-06-15
   days on market $498,400 Active 376 DOM
5. 2026-06-14
   days on market $498,400 Active 374 DOM
6. 2026-06-10
   days on market $498,400 Active 371 DOM
7. 2026-06-09
   days on market $498,400 Active 370 DOM
8. 2026-06-08
   days on market $498,400 Active 369 DOM
9. 2026-06-07
   days on market $498,400 Active 368 DOM
10. 2026-06-03
    days on market $498,400 Active 364 DOM
11. 2026-06-03
    days on market $498,400 Active 363 DOM
12. 2026-06-01
    days on market $498,400 Active 362 DOM
13. 2026-05-31
    days on market $498,400 Active 361 DOM
14. 2026-04-03
    price $498,400 524-char remark

    Show marketing remark (524 chars)

    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! Contact us for more information 616-667-3333

15. 2025-07-15
    price $508,400 524-char remark

    Show marketing remark (524 chars)

    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! Contact us for more information 616-667-3333

16. 2025-06-04
    listed $495,900 Active 524-char remark

    Show marketing remark (524 chars)

    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! Contact us for more information 616-667-3333

ⓘ 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: $72,000
• − Mortgage interest: −$33,438
• − Property taxes: −$8,954
• − Insurance: −$2,985
• − Repairs & maintenance: −$5,760
• − Management: −$5,760
• − Depreciation: −$17,366
• Taxable loss: −$2,263
• Est. tax savings @ 24.0%: +$543
• After-tax cash flow: $7,919/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

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

Renovation cost estimate screening

Value-add ROI direction

• 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 ↑

ⓘ 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: 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

• Population (ZIP): 28,090

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%

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%

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

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