3209-3211 Coach Ln SE · Kentwood, MI 49512

$375,000

4 bd · 2.0 ba · 3,528 sqft · MultiFamily · 13 Days on market

Built 1979 Fair condition 0.47 ac lot $106/sqft · 16% below area Est $448k · 16% 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 +15.9/30.0
• ARV discount +14.8/15.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Rent growth +4.1/5.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

This versatile two-unit property offers flexibility, function, and a location that makes everyday living easy. Set within an established Kentwood neighborhood, you're just moments from major conveniences and a wide mix of parks, dining, shopping, schools, and entertainment options, plus quick access to main commuter routes. The property is currently tenant-occupied, offering immediate rental income and added appeal for investors or owner-occupant seeking a turnkey opportunity. Each unit is thoughtfully laid out with comfortable living areas, eat-in kitchens, and sliding doors that lead to separate decks, creating an easy indoor-outdoor flow. The main levels in both units feature 2 bedrooms and 1 full bath, while the lower levels expand the usable space. This is a solid investment opportunity.

Key facts

• Two unit property
• Separate decks
• Eat in kitchens

Tags

• TWO UNIT PROPERTY
• IMMEDIATE RENTAL INCOME
• TURNKEY OPPORTUNITY
• COMFORTABLE LIVING AREAS
• EAT IN KITCHENS
• SEPARATE DECKS

Property features AI

Finance

• Financial info: Income-producing property with two 2-bedroom units (rents shown: $1,200 and $1,215)

Exterior

• Parking: Garage (paved); Four parking spaces total
• Utilities: Public water; Public sewer; Cable connected; Electricity connected; Natural gas connected; Phone available and connected; Sewer connected
• Home design: Residential income property (multifamily); Multi-family building; Total living area approximately 3,528
• Construction: Aluminum siding
• Exterior features: Composition roof; Paved road access

Interior

• Kitchen: No specific kitchen appliance details provided
• Bedrooms: Two 2-bedroom units
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Full basement; Deck/Patio; Corner lot; Level lot; Sidewalks nearby
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $375k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive. Per door: $89/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $350k (6.5% below list).
• Recommended offer: $350k (6.5% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 3.7% in Kentwood — 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 (#191 in MI, #4,892 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: commute C-, crime D, amenities F.
• Kentwood Public Schools (suburban): math 34% / reading 46% proficiency, ranked #206 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.5%/yr); 147 active listings in the ZIP; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• At $3,505/mo this rent would consume 59% of the median local household income ($71k/yr) (locally 1230% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $350,500 (6.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 6.86%
• Cash-on-cash: 2.03%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (median comp): $448,065
• List price: $375,000
• Delta: -16.31%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.55% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.65×
• Total profit: $-36,449
• Equity at exit: $55,914

10-year hold

• IRR: 4.5%
• Equity multiple: 1.38×
• Total profit: $40,263
• Equity at exit: $32,423

Cash invested: $105,000 (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 49512

• Home prices YoY: -15.9%
• Rents YoY: 6.5%
• Active inventory: 147
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $3,505 medium
• Mortgage (P&I): −$1,967
• Tax est. 1.5%: −$469 /mo · $5,625/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$736
• Net cashflow: $177

Break-even live

Break-even rent $3,280

Max offer price $375,000

Occupancy floor 90%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,506
Total (2 units)			$3,505

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-07
   listed $375,000 Active 803-char remark

   Show marketing remark (803 chars)

   This versatile two-unit property offers flexibility, function, and a location that makes everyday living easy. Set within an established Kentwood neighborhood, you're just moments from major conveniences and a wide mix of parks, dining, shopping, schools, and entertainment options, plus quick access to main commuter routes. The property is currently tenant-occupied, offering immediate rental income and added appeal for investors or owner-occupant seeking a turnkey opportunity. Each unit is thoughtfully laid out with comfortable living areas, eat-in kitchens, and sliding doors that lead to separate decks, creating an easy indoor-outdoor flow. The main levels in both units feature 2 bedrooms and 1 full bath, while the lower levels expand the usable space. This is a solid investment opportunity.

2. 2026-05-07
   listed $375,000 Active 803-char remark

   Show marketing remark (803 chars)

   This versatile two-unit property offers flexibility, function, and a location that makes everyday living easy. Set within an established Kentwood neighborhood, you're just moments from major conveniences and a wide mix of parks, dining, shopping, schools, and entertainment options, plus quick access to main commuter routes. The property is currently tenant-occupied, offering immediate rental income and added appeal for investors or owner-occupant seeking a turnkey opportunity. Each unit is thoughtfully laid out with comfortable living areas, eat-in kitchens, and sliding doors that lead to separate decks, creating an easy indoor-outdoor flow. The main levels in both units feature 2 bedrooms and 1 full bath, while the lower levels expand the usable space. This is a solid investment opportunity.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥96°F today · 16 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: $42,060
• − Mortgage interest: −$21,006
• − Property taxes: −$5,625
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,365
• − Management: −$3,365
• − Depreciation: −$10,909
• Taxable loss: −$4,085
• Est. tax savings @ 24.0%: +$980
• 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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This two-unit property requires moderate renovations to update the kitchen and bathrooms, which would significantly enhance its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate bathroom fixtures — dated and worn
• Moderate kitchen appliances — outdated and worn

Value-add opportunities

• Both update kitchen cabinets and appliances — enhances both resale and rental value
• Both update bathroom fixtures — enhances both resale and rental value
• Both paint interior walls — enhances both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
kitchen appliances · outdated and worn	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — enhances both resale and rental value ↑
• Both update bathroom fixtures — enhances both resale and rental value ↑
• Both paint interior walls — enhances both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Kentwood Public Schools
• NCES district ID: 2620340
• Math proficiency: 34% ▼ -4.00%
• Reading proficiency: 46% ▼ -3.00%
• Median HH income: $48,962
• Composite: 34.35/100
• National rank: #5226
• State rank: #206 of 540 in MI

Livability — Kentwood

• Score: 74/100
• State rank: #191
• US rank: #4892

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kentwood, MI
• County: Kent County · 533,805 people
• City population: 130,591
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 18,373
• Household income: $71,329
• Rent vs Own: 57.0% rent · 43.0% own
• Severe rent burden: 1230.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 62% Black 18% Hispanic / Latino 9% Two or more races 9% Asian 5%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Iranian 13% American 5% Romanian 3%
• Foreign-born: 17% · Vietnam, Canada, Philippines
• Languages at home: 79% English-only · Russian/Polish/Slavic 4% Spanish 4% Other Indo-European 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: ▼ -43.77%
• Current HPI: 231.7742
• Rent YoY: ▲ 6.55%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-20 Pending — REALCOMP
• 2026-05-20 Pending — MiRealSource-MiMLS
• 2026-05-07 Listed $375,000 MiRealSource-MiMLS
• 2026-05-07 Listed $375,000 REALCOMP