2957 Englewood Ave SE · Grand Rapids, MI 49508

$195,000

3 bd · 2.0 ba · 1,781 sqft · Townhouse · 151 Days on market

Built 1988 Good condition 0.48 ac lot $109/sqft · 23% below area Est $253k · 23% under $200/mo HOA · 9% of rent

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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 +17.4/30.0
• ARV discount +15.0/15.0
• 1% rule +6.0/10.0
• DSCR +5.4/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +3.9/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

An exciting opportunity for affordable homeownership awaits at Englewood Condominiums! This beautifully renovated three-bedroom, two-bathroom duplex-style condo offers approximately 1,600 square feet, washer and dryer hookups, backyard space and convenient garage parking. Enjoy a location close to 28th Street, public transportation, restaurants and major shopping destinations, including Meijer, Aldi and Woodland Mall. Offered through the Dwelling Place Community Land Trust, this home provides qualified buyers with the opportunity to purchase at a reduced price, build equity and enjoy long-term housing stability. The land is retained by the Community Land Trust and conveyed through a ground lease. Buyers must satisfy income and program eligibility requirements, complete approved homebuyer education, obtain mortgage preapproval and receive Community Land Trust approval.

Key facts

• Backyard space
• Restaurants
• $200 HOA

Tags

• BACKYARD SPACE
• CONVENIENT GARAGE PARKING
• LOCATION CLOSE TO 28TH STREET
• PUBLIC TRANSPORTATION
• RESTAURANTS
• MAJOR SHOPPING DESTINATIONS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $195k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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.
• Zoned schools: Alger Middle School (math 2% / reading 12%, grade F, #481 of 493 statewide, top 98%, 342 students, 95% FRL); City Middlehigh (math 65% / reading 88%, grade A-, #16 of 713 statewide, top 2%, 908 students, 40% FRL).
• Zoned-school proficiency averages 42% at this address vs 22% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Grand Rapids Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.6%/yr); 350 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 55d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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 37% 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 $1k of loan paydown is wiped out by about $6k 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 151 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 1.10% ✓
• Cap rate: 7.19%
• Cash-on-cash: 3.22%
• DSCR: 1.14
• GRM: 7.6

CMA / ARV

• ARV (median comp): $252,551
• List price: $195,000
• Delta: -22.79%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3288 Cambridge St SE #9	1.11mi	3/2.0	1,696 (-5%)	4mo	$250,000	$147	54
2253 Edington Dr SE	0.88mi	2/3.0 (-1)	1,898 (+7%)	6mo	$286,000	$151	40
3569 Whispering Brook Dr SE #33	0.78mi	3/1.5	1,934 (+9%)	13mo	$245,000	$127	38
2237 Edington Dr SE #118	0.90mi	3/3.0	1,900 (+7%)	21mo	$275,000	$145	33
3570 Whispering Brook Dr SE #50	0.87mi	2/1.5 (-1)	1,433 (-20%)	18mo	$225,000	$157	18

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 · 5.64% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.70×
• Total profit: $-16,262
• Equity at exit: $29,075

10-year hold

• IRR: 5.2%
• Equity multiple: 1.44×
• Total profit: $23,816
• Equity at exit: $16,860

Cash invested: $54,600 (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 →

Active competition Active MLS

• For sale now: 8 active · 8 under contract
• Median asking: $195,000 ($109/sqft)
• Median days on market: 148 d
• This list price: 12% of active listings are priced below it
• ARV vs active asking: +29.6% above current asking $/sqft

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

ZIP-level market 49508

• Rents YoY: 5.6%
• Active inventory: 350
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,145 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$200
• Vacancy / Maint / Mgmt: −$450
• Net cashflow: $147

Break-even live

Break-even rent $1,959

Max offer price $195,000

Occupancy floor 88%

Sensitivity live

Price	-10% $281	-5% $214	+0% $147	+5% $79	+10% $12
Rent	-10% $-23	-5% $62	+0% $147	+5% $231	+10% $316
Rate	-1.0pp $245	-0.5pp $196	base $147	+0.5pp $96	+1.0pp $45

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: $48,750
• Closing costs: $5,850
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2121 Shangrai La Dr SE Grand Rapids, MI	3.0	2.0	1500	$2,150	$1.43	138d	1	0.10mi
2150 Shangrai La Dr SE Grand Rapids, MI	2.0	1.0	1245	$1,500	$1.20	55d	1	0.17mi
2631 Woodmeadow Dr SE Grand Rapids, MI	3.0	2.0	1500	$1,925	$1.28	123d	1	0.81mi
3620 Chamberlain Ave SE Grand Rapids, MI	3.0	2.5	2206	$2,150	$0.97	43d	1	0.85mi
2148 Omena Dr SE Grand Rapids, MI	4.0	3.0	2200	$3,450	$1.57	133d	1	0.99mi
3731 Kalamazoo Ave SE Unit 3733 Grand Rapids, MI	2.0	1.0	1360	$1,750	$1.29	2d	1	1.11mi
2665 Ridgecroft Dr SE Unit 2663 Grand Rapids, MI	3.0	1.0	1440	$2,000	$1.39	7d	1	1.13mi
2555 Ridgemoor Dr SE Kentwood, MI	3.0	2.0	1750	$2,195	$1.25	36d	1	1.23mi
3454 Brooklyn Ave SE Grand Rapids, MI	3.0	2.0	1232	$1,900	$1.54	151d	1	1.26mi
2859 Bransford Dr SE Grand Rapids, MI	4.0	2.0	1667	$2,625	$1.57	151d	1	1.28mi
1513 Blossom St SE Unit 1513 Grand Rapids, MI	4.0	2.0	1600	$2,195	$1.37	0d	1	1.44mi
1513 Blossom St SE Unit 1513 Grand Rapids, MI	4.0	2.0	1600	$2,195	$1.37	7d	1	1.44mi

Listing history 50 events

1. 2026-11-08
   days on market $195,000 Active 151 DOM
2. 2026-11-07
   days on market $195,000 Active 150 DOM
3. 2026-11-06
   days on market $195,000 Active 149 DOM
4. 2026-11-05
   days on market $195,000 Active 148 DOM
5. 2026-11-04
   days on market $195,000 Active 147 DOM
6. 2026-11-02
   days on market $195,000 Active 145 DOM
7. 2026-11-01
   days on market $195,000 Active 144 DOM
8. 2026-10-31
   days on market $195,000 Active 143 DOM
9. 2026-10-30
   days on market $195,000 Active 142 DOM
10. 2026-10-29
    days on market $195,000 Active 141 DOM
11. 2026-10-28
    days on market $195,000 Active 140 DOM
12. 2026-10-27
    days on market $195,000 Active 139 DOM
13. 2026-10-26
    days on market $195,000 Active 138 DOM
14. 2026-10-26
    days on market $195,000 Active 137 DOM
15. 2026-10-24
    days on market $195,000 Active 136 DOM
16. 2026-10-23
    days on market $195,000 Active 135 DOM
17. 2026-10-22
    days on market $195,000 Active 134 DOM
18. 2026-10-21
    days on market $195,000 Active 133 DOM
19. 2026-10-20
    days on market $195,000 Active 132 DOM
20. 2026-10-19
    days on market $195,000 Active 131 DOM
21. 2026-10-18
    days on market $195,000 Active 130 DOM
22. 2026-10-17
    days on market $195,000 Active 129 DOM
23. 2026-10-16
    days on market $195,000 Active 128 DOM
24. 2026-10-15
    days on market $195,000 Active 127 DOM
25. 2026-10-14
    days on market $195,000 Active 126 DOM
26. 2026-10-13
    days on market $195,000 Active 125 DOM
27. 2026-10-12
    days on market $195,000 Active 124 DOM
28. 2026-10-11
    days on market $195,000 Active 123 DOM
29. 2026-10-10
    days on market $195,000 Active 122 DOM
30. 2026-10-09
    days on market $195,000 Active 121 DOM
31. 2026-10-08
    days on market $195,000 Active 120 DOM
32. 2026-10-07
    days on market $195,000 Active 119 DOM
33. 2026-10-06
    days on market $195,000 Active 118 DOM
34. 2026-10-05
    days on market $195,000 Active 117 DOM
35. 2026-10-04
    days on market $195,000 Active 116 DOM
36. 2026-10-04
    days on market $195,000 Active 115 DOM
37. 2026-10-02
    days on market $195,000 Active 114 DOM
38. 2026-10-01
    days on market $195,000 Active 113 DOM
39. 2026-09-30
    days on market $195,000 Active 112 DOM
40. 2026-09-29
    days on market $195,000 Active 111 DOM
41. 2026-09-28
    days on market $195,000 Active 110 DOM
42. 2026-09-27
    days on market $195,000 Active 109 DOM
43. 2026-09-25
    days on market $195,000 Active 107 DOM
44. 2026-09-24
    days on market $195,000 Active 106 DOM
45. 2026-09-23
    days on market $195,000 Active 105 DOM
46. 2026-09-22
    days on market $195,000 Active 104 DOM
47. 2026-09-21
    days on market $195,000 Active 103 DOM
48. 2026-09-20
    days on market $195,000 Active 102 DOM
49. 2026-09-19
    days on market $195,000 Active 101 DOM
50. 2026-09-18
    days on market $195,000 Active 100 DOM

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,734
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,059
• − Management: −$2,059
• − HOA: −$2,400
• − Depreciation: −$5,673
• Taxable loss: −$1,279
• Est. tax savings @ 24.0%: +$307
• After-tax cash flow: $2,066/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 · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $8,905–$26,715 screening

This well-maintained, recently renovated three-bedroom townhouse is move-in ready with good curb appeal and fresh interior paint. Updates to the exterior siding and interior flooring would further enhance its value.

Value-add opportunities

• Both Paint exterior siding — Fresh paint enhances curb appeal and value ↑
• Both Replace carpet with hardwood flooring — Hardwood flooring is more durable and aesthetically pleasing ↑
• Both Update kitchen cabinets and countertops — Modern kitchen updates attract more buyers and renters ↑

ⓘ 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.

F Composite school gradezoned avg 10/100

Zoned Schools

Elementary Sherwood Global Studies Academy F MI #1,203/1,397 Nat'l #37,719/41,679 Middle Alger Middle School F MI #481/493 Nat'l #13,663/14,009 High Ottawa Hills High School F MI #659/713 Nat'l #15,975/17,239

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

A Composite livability gradescore 83/100

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 · 712,484 people
• City population: 181,325
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 42,720
• Household income: $70,120
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 16% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 48% Black 24% Two or more races 12% Hispanic / Latino 11% Asian 10%
• Hispanic origin (detail): Mexican 8%
• Languages at home: 75% English-only · Spanish 7% Other Indo-European 4% Other Asian/Pacific 3%

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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: ▼ -153.47%
• Current HPI: 274.2591
• Rent YoY: ▲ 5.64%
• Metro: Grand Rapids-Kentwood, MI
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-10 Listed $195,000 REALCOMP
• 2026-06-10 Listed $195,000 MiRealSource-MiMLS
• 2026-06-10 Listed $195,000 SW Michigan MLS