7204 E Grand River Ave Lot 142 · Portland, MI 48875

$74,995

3 bd · 2.0 ba · 1,550 sqft · Manufactured · 27 Days on market

Built 2002 Est $124k · 40% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 3-bedroom, 2-bathroom home right in the city of Portland! Upon entrance, you'll be greeted with a spacious living room filled with a ton of natural light. The kitchen, with a convenient island, was previously renovated; the appliances were purchased in 2023. There have been many renovations throughout the property. Both toilets in the bathrooms are new (2025), along with new flooring in one of the bathrooms (2025). The plumbing in both bathrooms has been replaced (2025). In addition, a few spots in the driveway have been replaced with new concrete! The floors are newer. The primary suite features a walk-in closet with ample space and an updated bathroom with a touch sensor vanity. So, what are you waiting for? Don't miss the chance to make this property your home! To schedule a showing, call Alana at [phone]. (Buyer must be approved through park)

Key facts

• New toilets
• New flooring
• Natural light

Tags

• NATURAL LIGHT
• KITCHEN ISLAND
• RENOVATED KITCHEN
• NEW TOILETS
• NEW FLOORING
• REPLACED PLUMBING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $75k.

Deal economics

• At list price, monthly cash flow is $737 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 3.5% in Portland — 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 77/100 on livability (#121 in MI, #2,947 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Portland Public Schools (town): math 30% / reading 50% proficiency, ranked #191 of 540 in MI (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 46 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 94 units permitted in Ionia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Ionia County population projected to shrink 8% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $73,870 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 2.12% ✓
• Cap rate: 18.09%
• Cash-on-cash: 42.14%
• DSCR: 2.87
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $124,000
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7204 E Grand River Ave Lot 142	0.00mi	3/2.0	1,550 (0%)	9mo	$65,000	$42	92
7204 E Grand River Ave #133	0.25mi	4/2.0 (+1)	1,568 (+1%)	21mo	$125,000	$80	64

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: 38.8%
• Equity multiple: 2.66×
• Total profit: $34,832
• Equity at exit: $11,182

10-year hold

• IRR: 45.3%
• Equity multiple: 5.33×
• Total profit: $90,897
• Equity at exit: $6,484

Cash invested: $20,999 (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 48875

• Home prices YoY: -29.5%
• Active inventory: 46
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,589 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $737

Break-even live

Break-even rent $656

Max offer price $74,995

Occupancy floor 49%

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: $18,749
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7204 E Grand River Ave Portland, MI	3.0	2.0	1336	$1,449	$1.08	3d	1	0.36mi

Listing history 21 events

1. 2026-06-16
   days on market $74,995 Active 27 DOM
2. 2026-06-15
   days on market $74,995 Active 26 DOM
3. 2026-06-14
   pricestatusdays on market $74,995 Active 24 DOM
4. 2026-04-02
   status Pending 881-char remark

   Show marketing remark (881 chars)

   Welcome to this 3-bedroom, 2-bathroom home right in the city of Portland! Upon entrance, you'll be greeted with a spacious living room filled with a ton of natural light. The kitchen, with a convenient island, was previously renovated; the appliances were purchased in 2023. There have been many renovations throughout the property. Both toilets in the bathrooms are new (2025), along with new flooring in one of the bathrooms (2025). The plumbing in both bathrooms has been replaced (2025). In addition, a few spots in the driveway have been replaced with new concrete! The floors are newer. The primary suite features a walk-in closet with ample space and an updated bathroom with a touch sensor vanity. So, what are you waiting for? Don't miss the chance to make this property your home! To schedule a showing, call Alana at [phone]. (Buyer must be approved through park)

5. 2026-04-02
   status Pending 881-char remark

   Show marketing remark (881 chars)

   Welcome to this 3-bedroom, 2-bathroom home right in the city of Portland! Upon entrance, you'll be greeted with a spacious living room filled with a ton of natural light. The kitchen, with a convenient island, was previously renovated; the appliances were purchased in 2023. There have been many renovations throughout the property. Both toilets in the bathrooms are new (2025), along with new flooring in one of the bathrooms (2025). The plumbing in both bathrooms has been replaced (2025). In addition, a few spots in the driveway have been replaced with new concrete! The floors are newer. The primary suite features a walk-in closet with ample space and an updated bathroom with a touch sensor vanity. So, what are you waiting for? Don't miss the chance to make this property your home! To schedule a showing, call Alana at [phone]. (Buyer must be approved through park)

6. 2026-04-02
   status Pending

   Show marketing remark (881 chars)

   Welcome to this 3-bedroom, 2-bathroom home right in the city of Portland! Upon entrance, you'll be greeted with a spacious living room filled with a ton of natural light. The kitchen, with a convenient island, was previously renovated; the appliances were purchased in 2023. There have been many renovations throughout the property. Both toilets in the bathrooms are new (2025), along with new flooring in one of the bathrooms (2025). The plumbing in both bathrooms has been replaced (2025). In addition, a few spots in the driveway have been replaced with new concrete! The floors are newer. The primary suite features a walk-in closet with ample space and an updated bathroom with a touch sensor vanity. So, what are you waiting for? Don't miss the chance to make this property your home! To schedule a showing, call Alana at [phone]. (Buyer must be approved through park)

7. 2026-03-20
   price $79,900 881-char remark

   Show marketing remark (881 chars)

   Welcome to this 3-bedroom, 2-bathroom home right in the city of Portland! Upon entrance, you'll be greeted with a spacious living room filled with a ton of natural light. The kitchen, with a convenient island, was previously renovated; the appliances were purchased in 2023. There have been many renovations throughout the property. Both toilets in the bathrooms are new (2025), along with new flooring in one of the bathrooms (2025). The plumbing in both bathrooms has been replaced (2025). In addition, a few spots in the driveway have been replaced with new concrete! The floors are newer. The primary suite features a walk-in closet with ample space and an updated bathroom with a touch sensor vanity. So, what are you waiting for? Don't miss the chance to make this property your home! To schedule a showing, call Alana at [phone]. (Buyer must be approved through park)

8. 2026-03-20
   price $79,900 881-char remark

   Show marketing remark (881 chars)

   Welcome to this 3-bedroom, 2-bathroom home right in the city of Portland! Upon entrance, you'll be greeted with a spacious living room filled with a ton of natural light. The kitchen, with a convenient island, was previously renovated; the appliances were purchased in 2023. There have been many renovations throughout the property. Both toilets in the bathrooms are new (2025), along with new flooring in one of the bathrooms (2025). The plumbing in both bathrooms has been replaced (2025). In addition, a few spots in the driveway have been replaced with new concrete! The floors are newer. The primary suite features a walk-in closet with ample space and an updated bathroom with a touch sensor vanity. So, what are you waiting for? Don't miss the chance to make this property your home! To schedule a showing, call Alana at [phone]. (Buyer must be approved through park)

9. 2026-03-20
   price $79,900

   Show marketing remark (881 chars)

   Welcome to this 3-bedroom, 2-bathroom home right in the city of Portland! Upon entrance, you'll be greeted with a spacious living room filled with a ton of natural light. The kitchen, with a convenient island, was previously renovated; the appliances were purchased in 2023. There have been many renovations throughout the property. Both toilets in the bathrooms are new (2025), along with new flooring in one of the bathrooms (2025). The plumbing in both bathrooms has been replaced (2025). In addition, a few spots in the driveway have been replaced with new concrete! The floors are newer. The primary suite features a walk-in closet with ample space and an updated bathroom with a touch sensor vanity. So, what are you waiting for? Don't miss the chance to make this property your home! To schedule a showing, call Alana at [phone]. (Buyer must be approved through park)

10. 2026-03-09
    listed $85,000 Active 881-char remark

    Show marketing remark (881 chars)

    Welcome to this 3-bedroom, 2-bathroom home right in the city of Portland! Upon entrance, you'll be greeted with a spacious living room filled with a ton of natural light. The kitchen, with a convenient island, was previously renovated; the appliances were purchased in 2023. There have been many renovations throughout the property. Both toilets in the bathrooms are new (2025), along with new flooring in one of the bathrooms (2025). The plumbing in both bathrooms has been replaced (2025). In addition, a few spots in the driveway have been replaced with new concrete! The floors are newer. The primary suite features a walk-in closet with ample space and an updated bathroom with a touch sensor vanity. So, what are you waiting for? Don't miss the chance to make this property your home! To schedule a showing, call Alana at [phone]. (Buyer must be approved through park)

11. 2026-03-09
    listed $85,000 Active 881-char remark

    Show marketing remark (881 chars)

    Welcome to this 3-bedroom, 2-bathroom home right in the city of Portland! Upon entrance, you'll be greeted with a spacious living room filled with a ton of natural light. The kitchen, with a convenient island, was previously renovated; the appliances were purchased in 2023. There have been many renovations throughout the property. Both toilets in the bathrooms are new (2025), along with new flooring in one of the bathrooms (2025). The plumbing in both bathrooms has been replaced (2025). In addition, a few spots in the driveway have been replaced with new concrete! The floors are newer. The primary suite features a walk-in closet with ample space and an updated bathroom with a touch sensor vanity. So, what are you waiting for? Don't miss the chance to make this property your home! To schedule a showing, call Alana at [phone]. (Buyer must be approved through park)

12. 2026-03-09
    listed $85,000 Active

    Show marketing remark (881 chars)

    Welcome to this 3-bedroom, 2-bathroom home right in the city of Portland! Upon entrance, you'll be greeted with a spacious living room filled with a ton of natural light. The kitchen, with a convenient island, was previously renovated; the appliances were purchased in 2023. There have been many renovations throughout the property. Both toilets in the bathrooms are new (2025), along with new flooring in one of the bathrooms (2025). The plumbing in both bathrooms has been replaced (2025). In addition, a few spots in the driveway have been replaced with new concrete! The floors are newer. The primary suite features a walk-in closet with ample space and an updated bathroom with a touch sensor vanity. So, what are you waiting for? Don't miss the chance to make this property your home! To schedule a showing, call Alana at [phone]. (Buyer must be approved through park)

13. 2025-09-12
    soldstatus $65,000 Sold
14. 2025-09-12
    soldstatus $65,000 Closed
15. 2025-09-12
    soldstatus $65,000 Closed
16. 2025-08-12
    status Pending
17. 2025-08-12
    status Pending
18. 2025-08-12
    status Pending
19. 2025-06-20
    listed $75,000 Active
20. 2025-06-20
    listed $75,000 Active
21. 2025-06-20
    listed $75,000 Active

ⓘ 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: $19,072
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,526
• − Management: −$1,526
• − Depreciation: −$2,182
• Taxable income: $8,138
• Est. tax owed @ 24.0%: −$1,953
• After-tax cash flow: $6,895/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: Portland Public Schools
• NCES district ID: 2629120
• Math proficiency: 30% ▼ -9.00%
• Reading proficiency: 50% ▼ -8.00%
• Median HH income: $61,869
• Composite: 35.55/100
• National rank: #4905
• State rank: #191 of 540 in MI

Livability — Portland

• Score: 77/100
• State rank: #121
• US rank: #2947

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Ionia County · 11,400 people
• City population: 11,400
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 11,400
• Household income: $94,216
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 161.0

Population outlook (Ionia County) Hauer SSP2

• Today (2025): 63,958 people
• By 2030: 63,321 · -1.0%
• By 2040: 61,544 · -3.8%
• By 2050: 58,682 · -8.2%
• By 2075: 48,909 · -23.5%
• By 2100: 35,867 · -43.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Iranian 6% Romanian 6% Slovak 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Ionia

• 2024 margin: Solid R (+31.9) · D 33.3% · R 65.2% · Other 1.5%
• 2008→2024 swing: -26.0pp toward R · 2008: -5.8pp · 2024: -31.9pp
• All cycles: 2024: R+31.9 2020: R+30.3 2016: R+31.0 2012: R+12.8 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.69%
• Current HPI: 248.2974
• 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

+6.5% since first listed

18 events — show timeline

• 2026-04-02 Pending — REALCOMP
• 2026-04-02 Pending — MiRealSource-MiMLS
• 2026-04-02 Pending — SW Michigan MLS
• 2026-03-20 Price Changed $79,900 MiRealSource-MiMLS
• 2026-03-20 Price Changed $79,900 REALCOMP
• 2026-03-20 Price Changed $79,900 SW Michigan MLS
• 2026-03-09 Listed $85,000 SW Michigan MLS
• 2026-03-09 Listed $85,000 MiRealSource-MiMLS
• 2026-03-09 Listed $85,000 REALCOMP
• 2025-09-12 Sold (MLS) $65,000 REALCOMP
• 2025-09-12 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2025-09-12 Sold (MLS) $65,000 SW Michigan MLS
• 2025-08-12 Pending — REALCOMP
• 2025-08-12 Pending — MiRealSource-MiMLS
• 2025-08-12 Pending — SW Michigan MLS
• 2025-06-20 Listed $75,000 REALCOMP
• 2025-06-20 Listed $75,000 MiRealSource-MiMLS
• 2025-06-20 Listed $75,000 SW Michigan MLS