421 Kinsey Ave SE · Caledonia, MI 49316

$228,000

3 bd · 2.0 ba · 1,234 sqft · SingleFamily public records · 12 Days on market

Built 1900 3.20 ac lot Est $275k · 17% under

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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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.6/10.0
• Schools +5.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous opportunity to own this 3 Bedroom & 2 bathroom home with barn on 3.2 acres in the village of Caledonia. Primary bedroom, Baths, & laundry are all on the first floor with large living/ dining room area. There is another room on main floor for an office or could be a 4th bedroom by adding a closet. Lot is large and has great potential for improvement. New owner can hook into the village sewer line, home has it's own well. There is road improvements scheduled to be done in the spring of 2027. Barn is approximately 42'x30' and shed is approximately 42'x15'. * Per sellers requests showings will start on Sunday, June 14th at 9AM so please schedule your showing time now. Home needs some TLC. Buyer should confirm all information & home is being sold as is. * Additional photos of the home including interior photos will be added soon so please check back for updates. Any questions please call seller's agents James Maxim at 616-262-4535 or Lauri Follett at 616-560-2806

Key facts

• 3.2 acre lot
• Built 1900
• Listed 12 days

Property features AI

Exterior

• Utilities: Natural gas available and connected; Electricity available
• Home design: Single-family residence; Residential property
• Construction: Built in 1967; Wood siding construction; Composition roof
• Exterior features: Wooded lot with wetland area; Paved road access; Well water

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Heating available
• Interior features: 8 total rooms; Crawl space and Michigan-style basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $228k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $228k).
• Cap rate 8.2% vs local median 2.5% in Caledonia — 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 78/100 on livability (#101 in MI, #2,449 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Caledonia Community Schools (suburban): math 58% / reading 68% proficiency, ranked #26 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 253 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 37y 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 $89k; list at $228k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $228,000

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.06% ✓
• Cap rate: 8.24%
• Cash-on-cash: 6.94%
• DSCR: 1.31
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $275,182
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Kinsey St SE	0.17mi	2/1.0 (-1)	1,170 (-5%)	21mo	$233,000	$199	57
118 N West St SE	0.51mi	3/1.0	1,119 (-9%)	4mo	$290,000	$259	53
303 Oak St SE	0.54mi	2/2.0 (-1)	1,188 (-4%)	14mo	$265,000	$223	52
340 E Main St SE	0.35mi	2/2.0 (-1)	1,065 (-14%)	11mo	$302,500	$284	46
218 W Main St SE	0.56mi	4/1.0 (+1)	1,322 (+7%)	23mo	$183,000	$138	34

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-13,411
• Equity at exit: $33,996

10-year hold

• IRR: 4.0%
• Equity multiple: 1.29×
• Total profit: $18,667
• Equity at exit: $19,713

Cash invested: $63,840 (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 49316

• Home prices YoY: -33.4%
• Active inventory: 253
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,417 medium
• Mortgage (P&I): −$1,196
• Tax from tax record: −$250 /mo · $2,995/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $369

Break-even live

Break-even rent $1,950

Max offer price $228,000

Occupancy floor 80%

Sensitivity live

Price	-10% $498	-5% $434	+0% $369	+5% $305	+10% $240
Rent	-10% $178	-5% $274	+0% $369	+5% $465	+10% $560
Rate	-1.0pp $484	-0.5pp $427	base $369	+0.5pp $310	+1.0pp $250

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: $57,000
• Closing costs: $6,840
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
245 Kinsey St SE Caledonia, MI	2.0–3.0	2.0–2.5	1285	$2,545	$1.98	3d	6	0.23mi
212 Vine St SE Caledonia, MI	2.0	1.0	1161	$2,400	$2.07	3d	1	0.52mi

Listing history 11 events

1. 2026-06-18
   days on market $228,000 Active 12 DOM
2. 2026-06-17
   days on market $228,000 Active 11 DOM
3. 2026-06-16
   days on market $228,000 Active 10 DOM
4. 2026-06-15
   days on market $228,000 Active 9 DOM
5. 2026-06-14
   days on market $228,000 Active 7 DOM
6. 2026-06-13
   days on market $228,000 Active 6 DOM
7. 2026-06-10
   days on market $228,000 Active 4 DOM
8. 2026-06-09
   days on market $228,000 Active 3 DOM
9. 2026-06-08
   days on market $228,000 Active 2 DOM
10. 2026-06-07
    remarks 691-char remark
11. 2026-06-07
    listed $228,000 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: $2,995 · $250/mo
• Projected year-2 tax: $3,253 · $271/mo
• Expected delta: +$258/yr (+$22/mo · 8.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,005
• − Mortgage interest: −$12,772
• − Property taxes: −$2,995
• − Insurance: −$1,140
• − Repairs & maintenance: −$2,320
• − Management: −$2,320
• − Depreciation: −$6,633
• Taxable income: $825
• Est. tax owed @ 24.0%: −$198
• After-tax cash flow: $4,233/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: Caledonia Community Schools
• NCES district ID: 2607620
• Math proficiency: 58% ▲ 2.00%
• Reading proficiency: 68% ▲ 1.00%
• Median HH income: $75,649
• Composite: 55.98/100
• National rank: #1196
• State rank: #26 of 540 in MI

Livability — Caledonia

• Score: 78/100
• State rank: #101
• US rank: #2449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Caledonia, MI
• County: Kent County · 533,805 people
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 26,427
• Household income: $103,238
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 96.0

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: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 21% Romanian 7% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 92% English-only · Spanish 2% Vietnamese 2% Chinese 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: ▼ -117.75%
• Current HPI: 235.3555
• 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

+237.8% since first listed

13 events — show timeline

• 2026-06-06 Listed $228,000 REALCOMP
• 2026-06-06 Listed $228,000 SW Michigan MLS
• 2026-06-06 Listed $228,000 MiRealSource-MiMLS
• 2014-09-16 Listing Removed — SW Michigan MLS
• 1997-08-16 Sold (MLS) $89,000 REALCOMP
• 1997-08-16 Sold (MLS) $89,000 SW Michigan MLS
• 1997-03-20 Listed $93,500 REALCOMP
• 1997-03-20 Listed $93,500 SW Michigan MLS
• 1990-03-25 Listing Removed — REALCOMP
• 1990-01-25 Listing Removed — REALCOMP
• 1990-01-25 Listed $67,500 REALCOMP
• 1989-10-25 Listed $67,500 REALCOMP
• 1989-10-25 Listed $67,500 SW Michigan MLS

Property tax history

+3.7%/yr

Latest (2025): $2,995 · +10.2% YoY. Source: county tax records.