917 Humbolt St SE · Grand Rapids, MI 49507

$264,900

5 bd · 1.5 ba · 1,748 sqft · SingleFamily public records · 5 Days on market

Built 1940 4,095 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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located just minutes from downtown Grand Rapids, and right in the center of places like Alger Heights, Eastown, and Gaslight Village, but for a fraction of the cost, this wonderful home in Grand Rapids east side is ready for you to make it your HOME. Ideally located near schools, shopping, dining, and more, this move-in-ready home blends character and functionality. Step inside to discover unique features like a custom-built breakfast nook with integrated storage, along with built-in desks, cabinets, and drawers for smart organization. Outside, enjoy a spacious, fenced backyard with a large play set - perfect for entertaining. Downstairs, the large basement offers two generous storage rooms plus an exterior cellar, ensuring ample space for all your needs. Recent updates, including a new furnace, provide peace of mind and long-term comfort. Call today for your private showing of this move-in ready home!

Key facts

• New furnace
• Large basement
• Fenced backyard

Tags

• CUSTOM-BUILT BREAKFAST NOOK
• FENCED BACKYARD
• LARGE BASEMENT
• TWO GENEROUS STORAGE ROOMS
• NEW FURNACE

Property features AI

Exterior

• Utilities: Public water; Natural gas connected
• Home design: Cape Cod style; Single-family residence; Residential property
• Construction: Built in 1940; Aluminum siding and brick exterior; Composition roof
• Exterior features: Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Bedroom 2; Bedroom 3; Bedroom 4
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Replacement windows; 10 total rooms; Full basement
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/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 $246k (7.3% below list).
• Recommended offer: $246k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 7.9% 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 (+4.7%/yr); 178 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• At $2,456/mo this rent would consume 48% of the median local household income ($61k/yr) (locally 1625% 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 $2k of loan paydown is wiped out by about $8k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 21 sale attempts since 32y 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 $102k; list at $265k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $245,600 (7.3% below list)

Questions for the listing agent

1. Built in 1940 — 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: 0.93% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.65%
• DSCR: 1.25
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.74% rent growth · sell at horizon

5-year hold

• IRR: -5.9%
• Equity multiple: 0.78×
• Total profit: $-16,427
• Equity at exit: $39,497

10-year hold

• IRR: 5.5%
• Equity multiple: 1.44×
• Total profit: $32,477
• Equity at exit: $22,904

Cash invested: $74,172 (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 49507

• Rents YoY: 4.7%
• Active inventory: 178
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,456 medium
• Mortgage (P&I): −$1,389
• Tax from tax record: −$92 /mo · $1,099/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$516
• Net cashflow: $349

Break-even live

Break-even rent $2,014

Max offer price $264,900

Occupancy floor 81%

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 Underwood Ave SE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	14d	1	0.39mi
729 Bates St SE Unit 1 Grand Rapids, MI	4.0	3.5	1576	$2,395	$1.52	43d	1	0.50mi
425 Woodlawn St SE Grand Rapids, MI	4.0	1.0	2072	$2,200	$1.06	43d	1	0.61mi
1154 Prospect Ave SE Grand Rapids, MI	5.0	2.0	1800	$2,300	$1.28	43d	1	0.71mi

Listing history 47 events

1. 2026-05-13
   status Pending 915-char remark

   Show marketing remark (915 chars)

   Located just minutes from downtown Grand Rapids, and right in the center of places like Alger Heights, Eastown, and Gaslight Village, but for a fraction of the cost, this wonderful home in Grand Rapids east side is ready for you to make it your HOME. Ideally located near schools, shopping, dining, and more, this move-in-ready home blends character and functionality. Step inside to discover unique features like a custom-built breakfast nook with integrated storage, along with built-in desks, cabinets, and drawers for smart organization. Outside, enjoy a spacious, fenced backyard with a large play set - perfect for entertaining. Downstairs, the large basement offers two generous storage rooms plus an exterior cellar, ensuring ample space for all your needs. Recent updates, including a new furnace, provide peace of mind and long-term comfort. Call today for your private showing of this move-in ready home!

2. 2026-05-13
   status Pending 915-char remark

   Show marketing remark (915 chars)

   Located just minutes from downtown Grand Rapids, and right in the center of places like Alger Heights, Eastown, and Gaslight Village, but for a fraction of the cost, this wonderful home in Grand Rapids east side is ready for you to make it your HOME. Ideally located near schools, shopping, dining, and more, this move-in-ready home blends character and functionality. Step inside to discover unique features like a custom-built breakfast nook with integrated storage, along with built-in desks, cabinets, and drawers for smart organization. Outside, enjoy a spacious, fenced backyard with a large play set - perfect for entertaining. Downstairs, the large basement offers two generous storage rooms plus an exterior cellar, ensuring ample space for all your needs. Recent updates, including a new furnace, provide peace of mind and long-term comfort. Call today for your private showing of this move-in ready home!

3. 2026-05-13
   status Pending

   Show marketing remark (915 chars)

   Located just minutes from downtown Grand Rapids, and right in the center of places like Alger Heights, Eastown, and Gaslight Village, but for a fraction of the cost, this wonderful home in Grand Rapids east side is ready for you to make it your HOME. Ideally located near schools, shopping, dining, and more, this move-in-ready home blends character and functionality. Step inside to discover unique features like a custom-built breakfast nook with integrated storage, along with built-in desks, cabinets, and drawers for smart organization. Outside, enjoy a spacious, fenced backyard with a large play set - perfect for entertaining. Downstairs, the large basement offers two generous storage rooms plus an exterior cellar, ensuring ample space for all your needs. Recent updates, including a new furnace, provide peace of mind and long-term comfort. Call today for your private showing of this move-in ready home!

4. 2026-05-08
   listed $264,900 Active 915-char remark

   Show marketing remark (915 chars)

   Located just minutes from downtown Grand Rapids, and right in the center of places like Alger Heights, Eastown, and Gaslight Village, but for a fraction of the cost, this wonderful home in Grand Rapids east side is ready for you to make it your HOME. Ideally located near schools, shopping, dining, and more, this move-in-ready home blends character and functionality. Step inside to discover unique features like a custom-built breakfast nook with integrated storage, along with built-in desks, cabinets, and drawers for smart organization. Outside, enjoy a spacious, fenced backyard with a large play set - perfect for entertaining. Downstairs, the large basement offers two generous storage rooms plus an exterior cellar, ensuring ample space for all your needs. Recent updates, including a new furnace, provide peace of mind and long-term comfort. Call today for your private showing of this move-in ready home!

5. 2026-05-08
   listed $264,900 Active 915-char remark

   Show marketing remark (915 chars)

   Located just minutes from downtown Grand Rapids, and right in the center of places like Alger Heights, Eastown, and Gaslight Village, but for a fraction of the cost, this wonderful home in Grand Rapids east side is ready for you to make it your HOME. Ideally located near schools, shopping, dining, and more, this move-in-ready home blends character and functionality. Step inside to discover unique features like a custom-built breakfast nook with integrated storage, along with built-in desks, cabinets, and drawers for smart organization. Outside, enjoy a spacious, fenced backyard with a large play set - perfect for entertaining. Downstairs, the large basement offers two generous storage rooms plus an exterior cellar, ensuring ample space for all your needs. Recent updates, including a new furnace, provide peace of mind and long-term comfort. Call today for your private showing of this move-in ready home!

6. 2026-05-08
   listed $264,900 Active

   Show marketing remark (915 chars)

   Located just minutes from downtown Grand Rapids, and right in the center of places like Alger Heights, Eastown, and Gaslight Village, but for a fraction of the cost, this wonderful home in Grand Rapids east side is ready for you to make it your HOME. Ideally located near schools, shopping, dining, and more, this move-in-ready home blends character and functionality. Step inside to discover unique features like a custom-built breakfast nook with integrated storage, along with built-in desks, cabinets, and drawers for smart organization. Outside, enjoy a spacious, fenced backyard with a large play set - perfect for entertaining. Downstairs, the large basement offers two generous storage rooms plus an exterior cellar, ensuring ample space for all your needs. Recent updates, including a new furnace, provide peace of mind and long-term comfort. Call today for your private showing of this move-in ready home!

7. 2026-05-02
   historical
8. 2026-05-01
   historical
9. 2026-04-14
   price $284,900
10. 2026-04-14
    price $284,900
11. 2026-04-14
    price $284,900
12. 2026-03-02
    listed $298,500 Active
13. 2026-03-02
    listed $298,500 Active
14. 2017-06-01
    soldstatus $102,000
15. 2017-05-26
    soldstatus $102,000
16. 2017-05-26
    soldstatus $102,000 Sold
17. 2017-04-17
    status Pending
18. 2017-04-13
    listed $89,900 Active
19. 2017-04-13
    listed $89,900
20. 2015-02-02
    historical
21. 2015-02-02
    historical
22. 2015-01-31
    historical
23. 2015-01-31
    historical
24. 2009-06-07
    soldstatus $39,900
25. 2009-06-07
    soldstatus $39,900
26. 2009-05-05
    listed $39,900
27. 2009-05-05
    listed $39,900
28. 2008-06-08
    soldstatus $44,900
29. 2008-06-08
    soldstatus $44,900
30. 2008-03-08
    listed $44,900
31. 2008-03-08
    listed $44,900
32. 2007-12-19
    soldstatus $10,500
33. 2007-12-19
    soldstatus $10,500
34. 2007-06-22
    listed $38,328
35. 2007-06-22
    listed $38,328
36. 1999-01-01
    historical
37. 1998-07-01
    listed $41,900
38. 1998-07-01
    listed $41,900
39. 1998-03-29
    historical
40. 1997-09-29
    listed $40,000
41. 1997-09-29
    listed $40,000
42. 1995-04-15
    historical
43. 1994-10-15
    listed $49,000
44. 1994-10-15
    listed $49,000
45. 1994-10-13
    historical
46. 1994-04-13
    listed $54,900
47. 1994-04-13
    listed $54,900

ⓘ 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: $1,099 · $92/mo
• Projected year-2 tax: $2,589 · $216/mo
• Expected delta: +$1,490/yr (+$124/mo · 135.6%)

ⓘ 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 ≥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: $29,472
• − Mortgage interest: −$14,839
• − Property taxes: −$1,099
• − Insurance: −$1,324
• − Repairs & maintenance: −$2,358
• − Management: −$2,358
• − Depreciation: −$7,706
• Taxable loss: −$212
• Est. tax savings @ 24.0%: +$51
• After-tax cash flow: $4,240/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): 38,487
• Household income: $61,461
• Rent vs Own: 38.0% rent · 62.0% own
• Severe rent burden: 1625.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Hispanic / Latino 31% Black 31% White 30% Two or more races 21%
• Hispanic origin (detail): Mexican 18% Puerto Rican 3% Dominican 1%
• Common ancestry: Iranian 8% Romanian 2% Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 71% English-only · Spanish 23% Arabic 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: ▼ -301.99%
• Current HPI: 325.3878
• Rent YoY: ▲ 4.74%
• 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

+382.5% since first listed

47 events — show timeline

• 2026-05-13 Pending — REALCOMP
• 2026-05-13 Pending — MiRealSource-MiMLS
• 2026-05-13 Pending — SW Michigan MLS
• 2026-05-08 Listed $264,900 SW Michigan MLS
• 2026-05-08 Listed $264,900 MiRealSource-MiMLS
• 2026-05-08 Listed $264,900 REALCOMP
• 2026-05-02 Listing Removed — MiRealSource-MiMLS
• 2026-05-01 Listing Removed — REALCOMP
• 2026-04-14 Price Changed $284,900 MiRealSource-MiMLS
• 2026-04-14 Price Changed $284,900 REALCOMP
• 2026-04-14 Price Changed $284,900 SW Michigan MLS
• 2026-03-02 Listed $298,500 REALCOMP
• 2026-03-02 Listed $298,500 MiRealSource-MiMLS
• 2017-06-01 Sold (Public Records) $102,000 Public Records
• 2017-05-26 Sold (MLS) $102,000 SW Michigan MLS
• 2017-05-26 Sold (MLS) $102,000 REALCOMP
• 2017-04-17 Pending — SW Michigan MLS
• 2017-04-13 Listed $89,900 SW Michigan MLS
• 2017-04-13 Listed $89,900 REALCOMP
• 2015-02-02 Listing Removed — SW Michigan MLS
• 2015-02-02 Listing Removed — SW Michigan MLS
• 2015-01-31 Listing Removed — SW Michigan MLS
• 2015-01-31 Listing Removed — SW Michigan MLS
• 2009-06-07 Sold (MLS) $39,900 REALCOMP
• 2009-06-07 Sold (MLS) $39,900 SW Michigan MLS
• 2009-05-05 Listed $39,900 REALCOMP
• 2009-05-05 Listed $39,900 SW Michigan MLS
• 2008-06-08 Sold (MLS) $44,900 REALCOMP
• 2008-06-08 Sold (MLS) $44,900 SW Michigan MLS
• 2008-03-08 Listed $44,900 REALCOMP
• 2008-03-08 Listed $44,900 SW Michigan MLS
• 2007-12-19 Sold (MLS) $10,500 REALCOMP
• 2007-12-19 Sold (MLS) $10,500 SW Michigan MLS
• 2007-06-22 Listed $38,328 REALCOMP
• 2007-06-22 Listed $38,328 SW Michigan MLS
• 1999-01-01 Listing Removed — REALCOMP
• 1998-07-01 Listed $41,900 REALCOMP
• 1998-07-01 Listed $41,900 SW Michigan MLS
• 1998-03-29 Listing Removed — REALCOMP
• 1997-09-29 Listed $40,000 REALCOMP
• 1997-09-29 Listed $40,000 SW Michigan MLS
• 1995-04-15 Listing Removed — REALCOMP
• 1994-10-15 Listed $49,000 REALCOMP
• 1994-10-15 Listed $49,000 SW Michigan MLS
• 1994-10-13 Listing Removed — REALCOMP
• 1994-04-13 Listed $54,900 REALCOMP
• 1994-04-13 Listed $54,900 SW Michigan MLS

Property tax history

+1.9%/yr

Latest (2025): $1,099 · -3.6% YoY. Source: county tax records.