3067 Effie Pl NE · Grand Rapids, MI 49505

$179,900

2 bd · 2.0 ba · 911 sqft · SingleFamily public records · 1 Days on market

Built 1915 5,140 sqft lot

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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 +21.3/30.0
• ARV discount +7.5/15.0
• DSCR +6.8/10.0
• 1% rule +4.9/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well built 2 bedroom 1 bath ranch. Nice area near riverside Park. Large fenced in back yard with studio/shed. Detached 1 stall garage. Extra office off living room. Located at the end of a quiet cul de sac. Possession at close. Great starter home or investment property!

Key facts

• Studio shed
• Fenced in back yard
• Quiet cul de sac

Tags

• FENCED IN BACK YARD
• STUDIO SHED
• QUIET CUL DE SAC

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water; Public sewer not specified; Natural gas for water heater
• Home design: Ranch-style single family home; Entry level information not provided; Facing direction not provided
• Construction: Built in 1915; Aluminum siding
• Exterior features: Cul-de-sac lot; Paved road access; Shed(s)

Interior

• Kitchen: Kitchen; Dishwasher; Range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Bedroom 5
• Bathrooms: 1 full bathroom; Primary bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 6 total rooms; Full basement; Formal dining area; Family room; Living room; Recreation room; Den; Other flexible rooms
• Laundry & utility: Laundry room; Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (0.7% below list).
• Recommended offer: $179k (0.7% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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.
• Market conditions: Rents rising fast (+4.5%/yr); 147 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $5k 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.
• 8 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 $95k; list at $180k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,642 (0.7% below list)

Questions for the listing agent

1. Built in 1915 — 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. 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?
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: 0.99% ✗
• Cap rate: 8.05%
• Cash-on-cash: 6.29%
• DSCR: 1.28
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.55% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-9,535
• Equity at exit: $26,824

10-year hold

• IRR: 6.3%
• Equity multiple: 1.50×
• Total profit: $25,206
• Equity at exit: $15,554

Cash invested: $50,372 (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 49505

• Rents YoY: 4.5%
• Active inventory: 147
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,786 high
• Mortgage (P&I): −$943
• Tax from tax record: −$129 /mo · $1,546/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $264

Break-even live

Break-even rent $1,452

Max offer price $179,900

Occupancy floor 80%

Sensitivity live

Price	-10% $366	-5% $315	+0% $264	+5% $213	+10% $162
Rent	-10% $123	-5% $194	+0% $264	+5% $335	+10% $405
Rate	-1.0pp $355	-0.5pp $310	base $264	+0.5pp $217	+1.0pp $170

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1300 3 Mile Rd NE Grand Rapids, MI	1.0–3.0	1.5–2.5	1270	$2,368	$1.86	3d	1	0.98mi
2317 Coit Ave NE Grand Rapids, MI	2.0	1.0	1087	$1,700	$1.56	44d	1	1.10mi
1310 Arcadia Dr NE Grand Rapids, MI	3.0	1.0	1100	$1,980	$1.80	4d	1	1.17mi
3118 Plaza Dr NE Grand Rapids, MI	1.0–2.0	1.0	925	$1,585	$1.71	3d	5	1.20mi
341 Brady St NW Comstock Park, MI	3.0	1.0	600	$1,395	$2.33	3d	1	1.21mi

Listing history 20 events

1. 2026-05-13
   status Pending 270-char remark

   Show marketing remark (270 chars)

   Well built 2 bedroom 1 bath ranch. Nice area near riverside Park. Large fenced in back yard with studio/shed. Detached 1 stall garage. Extra office off living room. Located at the end of a quiet cul de sac. Possession at close. Great starter home or investment property!

2. 2026-05-13
   status Pending 270-char remark

   Show marketing remark (270 chars)

   Well built 2 bedroom 1 bath ranch. Nice area near riverside Park. Large fenced in back yard with studio/shed. Detached 1 stall garage. Extra office off living room. Located at the end of a quiet cul de sac. Possession at close. Great starter home or investment property!

3. 2026-05-12
   status Pending
4. 2026-05-11
   listed $179,900 Active 270-char remark

   Show marketing remark (270 chars)

   Well built 2 bedroom 1 bath ranch. Nice area near riverside Park. Large fenced in back yard with studio/shed. Detached 1 stall garage. Extra office off living room. Located at the end of a quiet cul de sac. Possession at close. Great starter home or investment property!

5. 2026-05-11
   listed $179,900 Active 270-char remark

   Show marketing remark (270 chars)

   Well built 2 bedroom 1 bath ranch. Nice area near riverside Park. Large fenced in back yard with studio/shed. Detached 1 stall garage. Extra office off living room. Located at the end of a quiet cul de sac. Possession at close. Great starter home or investment property!

6. 2026-05-11
   listed $179,900 Active

   Show marketing remark (270 chars)

   Well built 2 bedroom 1 bath ranch. Nice area near riverside Park. Large fenced in back yard with studio/shed. Detached 1 stall garage. Extra office off living room. Located at the end of a quiet cul de sac. Possession at close. Great starter home or investment property!

7. 2017-01-19
   soldstatus $95,000
8. 2016-12-20
   soldstatus $95,000
9. 2016-12-20
   soldstatus $95,000 Sold
10. 2016-11-21
    status Pending
11. 2016-11-15
    price $99,900
12. 2016-11-01
    price $104,900
13. 2016-10-26
    status Active
14. 2016-10-13
    status Pending
15. 2016-10-03
    status Active
16. 2016-07-08
    status Pending
17. 2016-07-05
    status Active
18. 2016-06-26
    status Pending
19. 2016-06-17
    listed $109,900 Active
20. 2016-06-17
    listed $99,900

ⓘ 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: $1,546 · $129/mo
• Projected year-2 tax: $2,158 · $180/mo
• Expected delta: +$612/yr (+$51/mo · 39.6%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone C · 0% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,437
• − Mortgage interest: −$10,077
• − Property taxes: −$1,546
• − Insurance: −$900
• − Repairs & maintenance: −$1,715
• − Management: −$1,715
• − Depreciation: −$5,233
• Taxable income: $251
• Est. tax owed @ 24.0%: −$60
• After-tax cash flow: $3,109/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: 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

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 · 533,805 people
• City population: 181,325
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 32,426
• Household income: $74,906
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1330.0

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 (68%)
• Race & ethnicity: White 68% Black 14% Two or more races 11% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Iranian 12% Romanian 8% Italian 3%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 92% English-only · Spanish 3% Chinese 1% Other Indo-European 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: ▼ -324.57%
• Current HPI: 306.797
• Rent YoY: ▲ 4.55%
• 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

+80.1% since first listed

20 events — show timeline

• 2026-05-13 Pending — MiRealSource-MiMLS
• 2026-05-13 Pending — REALCOMP
• 2026-05-12 Pending — SW Michigan MLS
• 2026-05-11 Listed $179,900 REALCOMP
• 2026-05-11 Listed $179,900 SW Michigan MLS
• 2026-05-11 Listed $179,900 MiRealSource-MiMLS
• 2017-01-19 Sold (Public Records) $95,000 Public Records
• 2016-12-20 Sold (MLS) $95,000 SW Michigan MLS
• 2016-12-20 Sold (MLS) $95,000 REALCOMP
• 2016-11-21 Pending — SW Michigan MLS
• 2016-11-15 Price Changed $99,900 SW Michigan MLS
• 2016-11-01 Price Changed $104,900 SW Michigan MLS
• 2016-10-26 Relisted — SW Michigan MLS
• 2016-10-13 Pending — SW Michigan MLS
• 2016-10-03 Relisted — SW Michigan MLS
• 2016-07-08 Pending — SW Michigan MLS
• 2016-07-05 Relisted — SW Michigan MLS
• 2016-06-26 Pending — SW Michigan MLS
• 2016-06-17 Listed $109,900 SW Michigan MLS
• 2016-06-17 Listed $99,900 REALCOMP

Property tax history

+3.9%/yr

Latest (2025): $1,546 · -3.6% YoY. Source: county tax records.