701-703 Coleman St · Gaines, MI 49548

$389,000

None bd · None ba · — sqft · SingleFamily · 1 Days on market

Built 1976 0.27 ac lot

---

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
• Livability +3.0/5.0
• Cash flow +2.8/30.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Hard to find duplex in Byron Center Schools. Fully rented to good paying tenants until May, 2017. 3 bedroom, 1 bath on each side with walk-out basement. Each side is 868sqft on main floor and with another approximately 450sqft finished in the walkout basement. Both central A/C units were replaced in 2008.

Key facts

• Side-by-side duplex
• Tranquil stream
• 0.27 acre lot

Tags

• SIDE-BY-SIDE DUPLEX
• BYRON CENTER SCHOOL DISTRICT
• QUIET LOW-TRAFFIC STREET
• MAJOR MECHANICAL UPDATES
• CENTRAL AIR CONDITIONING
• TRANQUIL STREAM

Property features AI

Finance

• Other: Zoned residential; Acreage approximately 0.27
• Financial info: Two-unit building; Unit 1 occupied — rent $1,250; Unit 2 occupied — rent $1,200

Exterior

• Utilities: Natural gas; Forced air heating
• Home design: Multi-Family property; Built in 1976
• Construction: Basement foundation
• Exterior features: Aluminum and brick exterior; City/County paved street access; 90 feet of frontage

Interior

• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Multifamily configuration (2 units)

What this means for you Summary

Snapshot

• This is a single-family listed at $389k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (61.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (57.9% below list).
• Recommended offer: $149k (61.8% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 60/100 on livability (#583 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, employment D, crime F.
• Byron Center Public Schools (suburban): math 69% / reading 73% proficiency, ranked #15 of 540 in MI (top 3%) — strong family-tenant draw, lease renewals of 3-5y typical; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 109 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 32% of the median local income ($62k/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 $3k of loan paydown is wiped out by about $12k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 10y 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 $148k; list at $389k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,772 (61.8% 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. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.42% ✗
• Cap rate: 2.27%
• Cash-on-cash: -14.37%
• DSCR: 0.36
• GRM: 19.8

CMA / ARV

No comps found within radius.

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
589 Coleman St SE	0.14mi	3/3.0	2,539	1mo	$400,000	$158	81
7292 Jewelbrooke Dr SE	0.14mi	4/3.5	2,852	1mo	$435,000	$153	80
483 Sunbrook St SE	0.24mi	3/2.0	1,437	3mo	$378,000	$263	74
553 Sunmeadow Dr SE	0.27mi	3/2.0	1,760	2mo	$392,000	$223	73
7126 Willard Ave SE	0.30mi	5/2.5	2,589	1mo	$409,000	$158	72
547 72nd St SE	0.29mi	4/2.5	2,198	3mo	$410,000	$187	72
611 71st St SE	0.34mi	5/2.0	2,800	2mo	$425,000	$152	70
6908 Marshall Ave SE	0.59mi	3/1.5	1,204	3mo	$360,000	$299	58
6846 Aleda Ave SE	0.68mi	4/2.0	1,815	1mo	$340,000	$187	55
6852 Aleda Ave SE	0.68mi	3/2.5	3,029	2mo	$384,900	$127	54
129 Barry St SE	0.73mi	3/1.0	1,104	2mo	$279,900	$254	52
7359 Heather Ridge Ct SE	0.74mi	5/5.5	6,400	3mo	$950,000	$148	51

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: -45.1%
• Equity multiple: -0.37×
• Total profit: $-149,642
• Equity at exit: $58,001

10-year hold

• IRR: -82.2%
• Equity multiple: -1.22×
• Total profit: $-241,815
• Equity at exit: $33,634

Cash invested: $108,920 (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 49548

• Active inventory: 109
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $1,639 high
• Mortgage (P&I): −$2,040
• Tax from tax record: −$397 /mo · $4,763/yr
• Insurance: −$162
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $-1,360

Break-even live

Break-even rent $3,360

Max offer price $148,772

Occupancy floor —

Sensitivity live

Price	-10% $-1,140	-5% $-1,250	+0% $-1,360	+5% $-1,470	+10% $-1,580
Rent	-10% $-1,489	-5% $-1,425	+0% $-1,360	+5% $-1,295	+10% $-1,230
Rate	-1.0pp $-1,164	-0.5pp $-1,261	base $-1,360	+0.5pp $-1,461	+1.0pp $-1,563

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: $97,250
• Closing costs: $11,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
545 68th St SE Grand Rapids, MI	3.0	2.5	1800	$2,400	$1.33	44d	1	0.71mi
136 72nd St SE Grand Rapids, MI	2.0	1.0	—	$1,395	—	11d	1	0.72mi
7283 Division Ave S Grand Rapids, MI	3.0	2.0	1152	$1,514	$1.31	21d	1	1.16mi
6500 Division Ave S Grand Rapids, MI	2.0	1.0	784	$1,399	$1.78	11d	1	1.32mi
6471 Division Ave S Grand Rapids, MI	2.0	1.0	728	$1,399	$1.92	11d	1	1.38mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $389,000 Active 1 DOM

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $4,763 · $397/mo
• Projected year-2 tax: $5,377 · $448/mo
• Expected delta: +$614/yr (+$51/mo · 12.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,665
• − Mortgage interest: −$21,790
• − Property taxes: −$4,763
• − Insurance: −$2,612
• − Repairs & maintenance: −$1,573
• − Management: −$1,573
• − Depreciation: −$11,316
• Taxable loss: −$23,962
• Est. tax savings @ 24.0%: +$5,751
• After-tax cash flow: $-10,568/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: Byron Center Public Schools
• NCES district ID: 2607560
• Math proficiency: 69% ▼ -2.00%
• Reading proficiency: 73% ▼ -4.00%
• Median HH income: $63,763
• Composite: 61.5/100
• National rank: #753
• State rank: #15 of 540 in MI

Livability — Gaines

• Score: 60/100
• State rank: #583
• US rank: #18809

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cutlerville, MI
• County: Kent County · 533,805 people
• City population: 26,427
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 34,777
• Household income: $61,636
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 781.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 49% Hispanic / Latino 22% Two or more races 16% Black 15% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 15% Puerto Rican 4%
• Common ancestry: Iranian 10% Romanian 4% Lithuanian 2%
• Foreign-born: 13% · Canada, Vietnam, China
• Languages at home: 78% English-only · Spanish 14% Vietnamese 2% French/Haitian/Cajun 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: ▼ -208.41%
• Current HPI: 325.8096
• 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

+163.7% since first listed

9 events — show timeline

• 2026-06-18 Listed $389,000 MiRealSource-MiMLS
• 2016-11-09 Sold (Public Records) $147,600 Public Records
• 2016-11-08 Sold (MLS) $147,500 SW Michigan MLS
• 2016-11-08 Sold (MLS) $147,500 REALCOMP
• 2016-09-29 Pending — SW Michigan MLS
• 2016-09-11 Price Changed $154,900 SW Michigan MLS
• 2016-08-25 Listed $159,900 SW Michigan MLS
• 2016-08-25 Listed $154,900 REALCOMP
• 2005-05-09 Sold (Public Records) $147,500 Public Records

Property tax history

+5.9%/yr

Latest (2025): $4,763 · +3.3% YoY. Source: county tax records.