25 Page St NE · Grand Rapids, MI 49505

$199,975

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 9 Days on market

Built 1928 2,962 sqft lot

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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 +16.1/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming & character filled 11/2 story home in prime NE area! Features a full front enclosed porch, Living Room, Formal Dining Room, Updated Kitchen, 2 Bedrooms, Full Bath & potential galore with a full unfinished walk-up attic & full unfinished basement!! The entire interior has all fresh paint, new flooring throughout including refinished Hardwood Floors & natural wood trim, a newer forced air furnace & hot water heater (11-2024). Situated at the end of a non through street with off street parking & a very private side & backyard. Located just a few blocks from Downtown, the Grand River & NE as well as NW business districts. Offering immediate possession & best of all priced below market with all offers held & due by Tuesday June 9 at noon.

Key facts

• Updated kitchen
• 2,962 sq ft lot
• Garage

Tags

• FULL FRONT ENCLOSED PORCH
• UPDATED KITCHEN
• FULL UNFINISHED WALK-UP ATTIC
• FULL UNFINISHED BASEMENT
• REFINISHED HARDWOOD FLOORS
• PRIVATE SIDE AND BACKYARD

Property features AI

Exterior

• Parking: Attached garage; Attached parking
• Utilities: Public water; Natural gas available and connected; Electricity available; Natural gas water heater
• Home design: Traditional style; Single-family residence; Residential property
• Construction: Built in 1928; Vinyl siding; Asphalt composition shingle roof
• Exterior features: Paved road access

Interior

• Kitchen: Kitchen
• Bedrooms: Bedroom 2
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Pantry; Full basement; Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/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 $170k (15.2% below list).
• Recommended offer: $170k (15.2% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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.
• Zoned schools: Palmer School (math 5% / reading 15%, grade F, #1,230 of 1,397 statewide, top 91%, 178 students, 85% FRL); Riverside Middle School (math 8% / reading 17%, grade F, #466 of 493 statewide, top 95%, 248 students, 89% FRL); Union High School (math 2% / reading 12%, grade F, #699 of 713 statewide, top 99%, 922 students, 88% FRL).
• Zoned-school proficiency averages 10% at this address vs 22% district-wide (-12 pts) — the specific schools serving this property underperform the Grand Rapids Public Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.5%/yr); 149 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 92% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 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 $24k; list at $200k implies a 737% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,602 (15.2% below list)

Questions for the listing agent

1. Built in 1928 — 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. 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: 0.85% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.19%
• DSCR: 1.10
• GRM: 9.8

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: -11.3%
• Equity multiple: 0.58×
• Total profit: $-23,276
• Equity at exit: $29,817

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-772
• Equity at exit: $17,290

Cash invested: $55,993 (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: 149
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,696 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$106 /mo · $1,268/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $102

Break-even live

Break-even rent $1,567

Max offer price $199,975

Occupancy floor 89%

Sensitivity live

Price	-10% $215	-5% $159	+0% $102	+5% $46	+10% $-11
Rent	-10% $-32	-5% $35	+0% $102	+5% $169	+10% $236
Rate	-1.0pp $203	-0.5pp $153	base $102	+0.5pp $50	+1.0pp $-2

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: $49,994
• Closing costs: $5,999
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1359 Plainfield Ave NE Grand Rapids, MI	2.0	1.0–2.0	720	$2,325	$3.23	5d	9	0.14mi
41 Caledonia St NE Unit 1 Grand Rapids, MI	2.0	1.0	800	$1,395	$1.74	45d	1	0.14mi
135 Page St NE Grand Rapids, MI	3.0	2.0	1100	$3,100	$2.82	45d	1	0.16mi
50 Mathews Ct NE Grand Rapids, MI	3.0	1.5	1100	$1,850	$1.68	45d	1	0.21mi
120 Leonard St NE Unit 2 Grand Rapids, MI	2.0	1.0	750	$1,275	$1.70	45d	1	0.23mi
202 Leonard St NE Grand Rapids, MI	2.0	1.0	950	$1,200	$1.26	45d	1	0.26mi
1349 Maude Ave NE Grand Rapids, MI	2.0	1.0	600	$1,145	$1.91	45d	1	0.36mi
405 Carrier St NE Grand Rapids, MI	1.0	1.0	550	$1,250	$2.27	45d	1	0.45mi
974 Front Ave NW Apt 116 Grand Rapids, MI	1.0	1.0	588	$1,450	$2.47	45d	1	0.53mi
974 Front Ave NW Apt 129 Grand Rapids, MI	1.0	1.0	821	$1,825	$2.22	45d	1	0.53mi
974 Front Ave NW Apt 123 Grand Rapids, MI	1.0	1.0	528	$1,395	$2.64	45d	1	0.53mi
974 Front Ave NW Apt 121 Grand Rapids, MI	1.0	1.0	771	$1,800	$2.33	45d	1	0.53mi
1033 College Ave NE Grand Rapids, MI	1.0	1.0	560	$1,300	$2.32	45d	3	0.59mi
1335 Hamilton Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1124	$1,395	$1.24	45d	1	0.63mi
239 Ann St NE Unit 1 Grand Rapids, MI	2.0	1.0	928	$1,300	$1.40	45d	1	0.65mi
407 11th St NW Unit C Grand Rapids, MI	2.0	1.0	772	$1,500	$1.94	45d	1	0.65mi
101 Dean St NE #2 Grand Rapids, MI	1.0	1.0	851	$1,050	$1.23	45d	1	0.66mi
1844 Monroe Ave NW Grand Rapids, MI	2.0	1.0	1000	$2,050	$2.05	45d	1	0.69mi
733 Livingston Ave NE Grand Rapids, MI	2.0	1.0	900	$1,245	$1.38	45d	1	0.75mi
701 Fairview Ave NE Grand Rapids, MI	1.0	1.0	1000	$1,300	$1.30	45d	1	0.81mi
711 Clancy Ave NE Grand Rapids, MI	2.0	1.0	837	$1,345	$1.61	45d	1	0.82mi
814 Broadway Ave NW Grand Rapids, MI	1.0	1.0	900	$1,100	$1.22	45d	1	0.83mi
1044 Muskegon Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1100	$1,800	$1.64	45d	1	0.86mi
417 6th St NW Unit 1346768P Grand Rapids, MI	2.0	1.0	742	$2,794	$3.77	45d	1	0.89mi
1314 Portland Ave NE Grand Rapids, MI	2.0	1.0	908	$1,425	$1.57	45d	1	0.90mi
439 More St NE Unit 2 Grand Rapids, MI	1.0	1.0	700	$1,100	$1.57	45d	1	0.91mi
601 Bond Ave NW Grand Rapids, MI	1.0–2.0	1.0–2.0	853	$2,565	$3.01	45d	10	0.92mi
555 7th St NW Grand Rapids, MI	2.0–4.0	2.0	547	$640	$1.17	45d	6	0.97mi
734 Crosby St NW Unit 1 Grand Rapids, MI	3.0	1.0	1057	$1,800	$1.70	45d	1	0.97mi
600 Broadway Ave NW Grand Rapids, MI	1.0	1.0–2.0	952	$2,450	$2.57	46d	2	1.05mi
600 Broadway Ave NW Grand Rapids, MI	1.0	1.0–2.0	952	$2,438	$2.56	45d	2	1.05mi
818 Grand Ave NE Apt D Grand Rapids, MI	2.0	1.0	850	$1,400	$1.65	45d	1	1.06mi
1004 Jennette Ave NW Grand Rapids, MI	3.0	1.0	1000	$1,025	$1.02	45d	1	1.12mi
1011 Jennette Ave NW Unit 2 Grand Rapids, MI	2.0	1.0	720	$1,450	$2.01	45d	1	1.15mi
201 Michigan St NW Grand Rapids, MI	1.0–2.0	1.0–2.0	981	$2,800	$2.85	45d	10	1.15mi
900 Leonard St NW Grand Rapids, MI	2.0	1.0–2.0	720	$2,850	$3.96	4d	10	1.19mi
1019 Widdicomb Ave NW Unit 2 Grand Rapids, MI	2.0	1.0	1000	$1,575	$1.57	45d	1	1.26mi
2317 Coit Ave NE Grand Rapids, MI	2.0	1.0	1087	$1,700	$1.56	45d	1	1.27mi
745 Stocking Ave NW Grand Rapids, MI	1.0–2.0	1.0	879	$1,541	$1.75	16d	3	1.30mi
619 Emerald Ave NE Unit 8 Grand Rapids, MI	1.0	1.0	656	$1,400	$2.13	45d	1	1.30mi

Listing history 10 events

1. 2026-06-21
   statusdays on market $199,975 Pending 9 DOM
2. 2026-06-18
   days on market $199,975 Active 7 DOM
3. 2026-06-17
   days on market $199,975 Active 6 DOM
4. 2026-06-16
   status $199,975 Active 5 DOM
5. 2026-06-10
   status $199,975 Pending 5 DOM
6. 2026-06-09
   days on market $199,975 Active 5 DOM
7. 2026-06-08
   days on market $199,975 Active 4 DOM
8. 2026-06-07
   days on market $199,975 Active 3 DOM
9. 2026-06-05
   remarks 667-char remark
10. 2026-06-05
    listed $199,975 Active 1 DOM

ⓘ 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: $1,268 · $106/mo
• Projected year-2 tax: $2,174 · $181/mo
• Expected delta: +$906/yr (+$75/mo · 71.4%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,352
• − Mortgage interest: −$11,202
• − Property taxes: −$1,268
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,628
• − Management: −$1,628
• − Depreciation: −$5,817
• Taxable loss: −$2,192
• Est. tax savings @ 24.0%: +$526
• After-tax cash flow: $1,752/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

+703.1% since first listed

11 events — show timeline

• 2026-06-04 Listed $199,975 SW Michigan MLS
• 2026-06-04 Listed $199,975 REALCOMP
• 2026-06-04 Listed $199,975 MiRealSource-MiMLS
• 2015-01-31 Listing Removed — SW Michigan MLS
• 1997-02-27 Sold (MLS) $23,900 REALCOMP
• 1997-02-27 Sold (MLS) $23,900 SW Michigan MLS
• 1996-11-27 Listed $23,900 REALCOMP
• 1996-11-27 Listed $23,900 SW Michigan MLS
• 1994-09-03 Listing Removed — REALCOMP
• 1994-04-03 Listed $24,900 REALCOMP
• 1994-04-03 Listed $24,900 SW Michigan MLS

Property tax history

+1.5%/yr

Latest (2025): $1,268 · +2.7% YoY. Source: county tax records.