1841 Luce St SW · Jenison, MI 49534

$228,000

3 bd · 1.5 ba · 1,616 sqft · SingleFamily public records · 13 Days on market

Built 1969 2.58 ac lot ↓ 21% since listing

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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 +19.9/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• 1% rule +5.1/10.0
• Schools +4.8/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious home sitting on 2.5 acres. Lots of tress offering privacy. The home offers a very spacious main floor, living room with fireplace, kitchen, large dining area with slider leading to deck with a beautiful view. There are 3 bedrooms on the main floor as well as a full bath which connects to the master bedroom. Lower level has several finished rooms with no egress. Fireplace in one room downstairs as well. Home needs work. Sale is subject to Probate Court Approval, all offers to be reviewed on April 27, 8:00 am.

Key facts

• Finished rooms
• 2.5 acres
• Large dining area

Tags

• 2.5 ACRES
• LIVING ROOM WITH FIREPLACE
• LARGE DINING AREA
• SLIDER LEADING TO DECK
• FINISHED ROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $228k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/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 7.7% vs local median 3.3% in Jenison — 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 74/100 on livability (#178 in MI, #4,596 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute F, health & safety F.
• Grandville Public Schools (suburban): math 49% / reading 61% proficiency, ranked #70 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+7.9%/yr); 111 active listings in the ZIP; solid renter incomes; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).
• This rent runs 34% of the median local income ($82k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Ottawa County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $64k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts; this cycle's ask has dropped $62k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $228,000

Questions for the listing agent

1. Built in 1969 — 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 B-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: 1.01% ✓
• Cap rate: 7.75%
• Cash-on-cash: 5.19%
• DSCR: 1.23
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.87% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.88×
• Total profit: $-7,542
• Equity at exit: $33,996

10-year hold

• IRR: 11.4%
• Equity multiple: 2.09×
• Total profit: $69,698
• 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 49534

• Home prices YoY: -28.4%
• Rents YoY: 7.9%
• Active inventory: 111
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,296 medium
• Mortgage (P&I): −$1,196
• Tax from tax record: −$247 /mo · $2,962/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $276

Break-even live

Break-even rent $1,946

Max offer price $228,000

Occupancy floor 83%

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: —

Listing history 9 events

1. 2026-04-27
   status Pending 522-char remark

   Show marketing remark (522 chars)

   Spacious home sitting on 2.5 acres. Lots of tress offering privacy. The home offers a very spacious main floor, living room with fireplace, kitchen, large dining area with slider leading to deck with a beautiful view. There are 3 bedrooms on the main floor as well as a full bath which connects to the master bedroom. Lower level has several finished rooms with no egress. Fireplace in one room downstairs as well. Home needs work. Sale is subject to Probate Court Approval, all offers to be reviewed on April 27, 8:00 am.

2. 2026-04-27
   status Pending 522-char remark

   Show marketing remark (522 chars)

   Spacious home sitting on 2.5 acres. Lots of tress offering privacy. The home offers a very spacious main floor, living room with fireplace, kitchen, large dining area with slider leading to deck with a beautiful view. There are 3 bedrooms on the main floor as well as a full bath which connects to the master bedroom. Lower level has several finished rooms with no egress. Fireplace in one room downstairs as well. Home needs work. Sale is subject to Probate Court Approval, all offers to be reviewed on April 27, 8:00 am.

3. 2026-04-27
   status Pending

   Show marketing remark (522 chars)

   Spacious home sitting on 2.5 acres. Lots of tress offering privacy. The home offers a very spacious main floor, living room with fireplace, kitchen, large dining area with slider leading to deck with a beautiful view. There are 3 bedrooms on the main floor as well as a full bath which connects to the master bedroom. Lower level has several finished rooms with no egress. Fireplace in one room downstairs as well. Home needs work. Sale is subject to Probate Court Approval, all offers to be reviewed on April 27, 8:00 am.

4. 2026-04-15
   price $228,000 522-char remark

   Show marketing remark (522 chars)

   Spacious home sitting on 2.5 acres. Lots of tress offering privacy. The home offers a very spacious main floor, living room with fireplace, kitchen, large dining area with slider leading to deck with a beautiful view. There are 3 bedrooms on the main floor as well as a full bath which connects to the master bedroom. Lower level has several finished rooms with no egress. Fireplace in one room downstairs as well. Home needs work. Sale is subject to Probate Court Approval, all offers to be reviewed on April 27, 8:00 am.

5. 2026-04-14
   price $228,000 522-char remark

   Show marketing remark (522 chars)

   Spacious home sitting on 2.5 acres. Lots of tress offering privacy. The home offers a very spacious main floor, living room with fireplace, kitchen, large dining area with slider leading to deck with a beautiful view. There are 3 bedrooms on the main floor as well as a full bath which connects to the master bedroom. Lower level has several finished rooms with no egress. Fireplace in one room downstairs as well. Home needs work. Sale is subject to Probate Court Approval, all offers to be reviewed on April 27, 8:00 am.

6. 2026-04-14
   price $228,000

   Show marketing remark (522 chars)

   Spacious home sitting on 2.5 acres. Lots of tress offering privacy. The home offers a very spacious main floor, living room with fireplace, kitchen, large dining area with slider leading to deck with a beautiful view. There are 3 bedrooms on the main floor as well as a full bath which connects to the master bedroom. Lower level has several finished rooms with no egress. Fireplace in one room downstairs as well. Home needs work. Sale is subject to Probate Court Approval, all offers to be reviewed on April 27, 8:00 am.

7. 2026-04-13
   listed $290,000 Active 522-char remark

   Show marketing remark (522 chars)

   Spacious home sitting on 2.5 acres. Lots of tress offering privacy. The home offers a very spacious main floor, living room with fireplace, kitchen, large dining area with slider leading to deck with a beautiful view. There are 3 bedrooms on the main floor as well as a full bath which connects to the master bedroom. Lower level has several finished rooms with no egress. Fireplace in one room downstairs as well. Home needs work. Sale is subject to Probate Court Approval, all offers to be reviewed on April 27, 8:00 am.

8. 2026-04-13
   listed $290,000 Active 522-char remark

   Show marketing remark (522 chars)

   Spacious home sitting on 2.5 acres. Lots of tress offering privacy. The home offers a very spacious main floor, living room with fireplace, kitchen, large dining area with slider leading to deck with a beautiful view. There are 3 bedrooms on the main floor as well as a full bath which connects to the master bedroom. Lower level has several finished rooms with no egress. Fireplace in one room downstairs as well. Home needs work. Sale is subject to Probate Court Approval, all offers to be reviewed on April 27, 8:00 am.

9. 2026-04-13
   listed $290,000 Active

   Show marketing remark (522 chars)

   Spacious home sitting on 2.5 acres. Lots of tress offering privacy. The home offers a very spacious main floor, living room with fireplace, kitchen, large dining area with slider leading to deck with a beautiful view. There are 3 bedrooms on the main floor as well as a full bath which connects to the master bedroom. Lower level has several finished rooms with no egress. Fireplace in one room downstairs as well. Home needs work. Sale is subject to Probate Court Approval, all offers to be reviewed on April 27, 8:00 am.

ⓘ 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: $2,962 · $247/mo
• Projected year-2 tax: $3,236 · $270/mo
• Expected delta: +$275/yr (+$23/mo · 9.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥95°F today · 15 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: $27,549
• − Mortgage interest: −$12,772
• − Property taxes: −$2,962
• − Insurance: −$1,140
• − Repairs & maintenance: −$2,204
• − Management: −$2,204
• − Depreciation: −$6,633
• Taxable loss: −$365
• Est. tax savings @ 24.0%: +$88
• After-tax cash flow: $3,402/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: Grandville Public Schools
• NCES district ID: 2616470
• Math proficiency: 49% ▼ -5.00%
• Reading proficiency: 61% ▼ -1.00%
• Median HH income: $58,935
• Composite: 47.74/100
• National rank: #2234
• State rank: #70 of 540 in MI

Livability — Jenison

• Score: 74/100
• State rank: #178
• US rank: #4596

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kent County · 533,805 people
• City population: 28,090
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 23,719
• Household income: $81,657
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 415.0

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 313,561 people
• By 2030: 330,027 · +5.3%
• By 2040: 361,118 · +15.2%
• By 2050: 388,414 · +23.9%
• By 2075: 452,175 · +44.2%
• By 2100: 473,041 · +50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Iranian 20% Romanian 12% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+20.4) · D 39.0% · R 59.5% · Other 1.5%
• 2008→2024 swing: +3.4pp toward D · 2008: -23.9pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+21.5 2016: R+30.4 2012: R+34.2 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.59%
• Current HPI: 270.866
• Rent YoY: ▲ 7.87%
• 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

-21.4% since first listed

9 events — show timeline

• 2026-04-27 Pending — REALCOMP
• 2026-04-27 Pending — MiRealSource-MiMLS
• 2026-04-27 Pending — SW Michigan MLS
• 2026-04-15 Price Changed $228,000 MiRealSource-MiMLS
• 2026-04-14 Price Changed $228,000 REALCOMP
• 2026-04-14 Price Changed $228,000 SW Michigan MLS
• 2026-04-13 Listed $290,000 SW Michigan MLS
• 2026-04-13 Listed $290,000 MiRealSource-MiMLS
• 2026-04-13 Listed $290,000 REALCOMP

Property tax history

+4.2%/yr

Latest (2025): $2,962 · +2.6% YoY. Source: county tax records.