5431 Swallow Ct · Plainfield, MI 49306

$39,900

2 bd · 1.5 ba · 970 sqft · Other · 50 Days on market

Built 1973

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• Schools +5.5/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy affordable living in this 55+ community with a convenient location just minutes from Grand Rapids and within the highly desirable Rockford school district. This home features 2 spacious bedrooms, central air, underground sprinkling, and an extra-deep attached carport for added convenience. A large attached shed provides plenty of storage space. With a little paint and new carpet, this home could truly shine--offering a great opportunity to make it your own while building value. If you're looking for a budget-friendly option in a great location, this is one you won't want to miss!

Key facts

• Built 1973
• Listed 50 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Rockford Public Schools (suburban): math 59% / reading 64% proficiency, ranked #28 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Market conditions: 65 active listings in the ZIP; 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 $276 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($39k) 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 $38,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 4.38% ✓
• Cap rate: 39.55%
• Cash-on-cash: 118.77%
• DSCR: 6.28
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 6.73×
• Total profit: $63,987
• Equity at exit: $5,949

10-year hold

• IRR: —
• Equity multiple: 14.11×
• Total profit: $146,510
• Equity at exit: $3,450

Cash invested: $11,172 (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 49306

• Active inventory: 65
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,749 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $1,106

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 32%

Sensitivity live

Price	-10% $1,133	-5% $1,120	+0% $1,106	+5% $1,092	+10% $1,078
Rent	-10% $968	-5% $1,037	+0% $1,106	+5% $1,175	+10% $1,244
Rate	-1.0pp $1,126	-0.5pp $1,116	base $1,106	+0.5pp $1,095	+1.0pp $1,085

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-15
   status Pending 592-char remark

   Show marketing remark (592 chars)

   Enjoy affordable living in this 55+ community with a convenient location just minutes from Grand Rapids and within the highly desirable Rockford school district. This home features 2 spacious bedrooms, central air, underground sprinkling, and an extra-deep attached carport for added convenience. A large attached shed provides plenty of storage space. With a little paint and new carpet, this home could truly shine--offering a great opportunity to make it your own while building value. If you're looking for a budget-friendly option in a great location, this is one you won't want to miss!

2. 2026-05-15
   status Pending 592-char remark

   Show marketing remark (592 chars)

   Enjoy affordable living in this 55+ community with a convenient location just minutes from Grand Rapids and within the highly desirable Rockford school district. This home features 2 spacious bedrooms, central air, underground sprinkling, and an extra-deep attached carport for added convenience. A large attached shed provides plenty of storage space. With a little paint and new carpet, this home could truly shine--offering a great opportunity to make it your own while building value. If you're looking for a budget-friendly option in a great location, this is one you won't want to miss!

3. 2026-05-15
   status Pending

   Show marketing remark (592 chars)

   Enjoy affordable living in this 55+ community with a convenient location just minutes from Grand Rapids and within the highly desirable Rockford school district. This home features 2 spacious bedrooms, central air, underground sprinkling, and an extra-deep attached carport for added convenience. A large attached shed provides plenty of storage space. With a little paint and new carpet, this home could truly shine--offering a great opportunity to make it your own while building value. If you're looking for a budget-friendly option in a great location, this is one you won't want to miss!

4. 2026-03-26
   listed $39,900 Active 592-char remark

   Show marketing remark (592 chars)

   Enjoy affordable living in this 55+ community with a convenient location just minutes from Grand Rapids and within the highly desirable Rockford school district. This home features 2 spacious bedrooms, central air, underground sprinkling, and an extra-deep attached carport for added convenience. A large attached shed provides plenty of storage space. With a little paint and new carpet, this home could truly shine--offering a great opportunity to make it your own while building value. If you're looking for a budget-friendly option in a great location, this is one you won't want to miss!

5. 2026-03-26
   listed $39,900 Active 592-char remark

   Show marketing remark (592 chars)

   Enjoy affordable living in this 55+ community with a convenient location just minutes from Grand Rapids and within the highly desirable Rockford school district. This home features 2 spacious bedrooms, central air, underground sprinkling, and an extra-deep attached carport for added convenience. A large attached shed provides plenty of storage space. With a little paint and new carpet, this home could truly shine--offering a great opportunity to make it your own while building value. If you're looking for a budget-friendly option in a great location, this is one you won't want to miss!

6. 2026-03-26
   listed $39,900 Active

   Show marketing remark (592 chars)

   Enjoy affordable living in this 55+ community with a convenient location just minutes from Grand Rapids and within the highly desirable Rockford school district. This home features 2 spacious bedrooms, central air, underground sprinkling, and an extra-deep attached carport for added convenience. A large attached shed provides plenty of storage space. With a little paint and new carpet, this home could truly shine--offering a great opportunity to make it your own while building value. If you're looking for a budget-friendly option in a great location, this is one you won't want to miss!

ⓘ 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: $20,985
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$1,679
• − Management: −$1,679
• − Depreciation: −$1,161
• Taxable income: $13,433
• Est. tax owed @ 24.0%: −$3,224
• After-tax cash flow: $10,045/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: Rockford Public Schools
• NCES district ID: 2630030
• Math proficiency: 59% ▼ -5.00%
• Reading proficiency: 64% ▼ -2.00%
• Median HH income: $79,800
• Composite: 55.16/100
• National rank: #1276
• State rank: #28 of 540 in MI

Livability — Plainfield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 10,806

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 4% Cuban 2%
• Common ancestry: Iranian 12% Romanian 12% Lithuanian 5%
• Foreign-born: 3% · Canada, Jamaica
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -146.39%
• Current HPI: 246.3054
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-15 Pending — REALCOMP
• 2026-05-15 Pending — SW Michigan MLS
• 2026-03-26 Listed $39,900 SW Michigan MLS
• 2026-03-26 Listed $39,900 REALCOMP
• 2026-03-26 Listed $39,900 MiRealSource-MiMLS

Property tax history

-0.9%/yr

Latest (2025): $45 · -39.2% YoY. Source: county tax records.