754 Olympia St SW · Grand Rapids, MI 49503

$200,000

4 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 41 Days on market

Built 1900 4,008 sqft lot $160/sqft · 13% below area Est $231k · 13% under ↓ 7% 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 +17.4/30.0
• ARV discount +13.6/15.0
• DSCR +5.4/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

Key facts

• 4,008 sq ft lot
• Built 1900
• Listed 41 days

Property features AI

Exterior

• Utilities: Natural gas available and connected; Electricity available; High-speed internet available; Public water and well
• Home design: Traditional single-family residence; Approximately 1,248 square feet; Built in 1900; Shingle roof
• Construction: Concrete and vinyl siding construction
• Exterior features: Paved road access; Lot of about 0.09 acres

Interior

• Kitchen: Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Insulated windows; 7 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/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 $178k (11.2% below list).
• Recommended offer: $178k (11.2% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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 (+2.8%/yr); 181 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 33% of the median local income ($65k/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 $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

• It's been on market 41 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,636 (11.2% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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?
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: 0.89% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.21%
• DSCR: 1.14
• GRM: 9.4

CMA / ARV

• ARV (median comp): $231,091
• List price: $200,000
• Delta: -9.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1061 Rathbone St SW	0.41mi	4/1.0	1,171 (-6%)	6mo	$215,000	$184	65
1650 Wendler Ave SW	0.65mi	3/1.5 (-1)	1,296 (+4%)	1mo	$250,000	$193	56
1736 Wendler Ave SW	0.71mi	3/1.0 (-1)	1,248 (0%)	8mo	$239,900	$192	56
1455 Godfrey Ave SW	0.26mi	5/3.0 (+1)	1,384 (+11%)	2mo	$170,000	$123	55
1664 Martindale Ave SW	0.75mi	4/1.0	1,254 (+0%)	15mo	$250,000	$199	52
1246 Marquette St SW	0.62mi	3/1.0 (-1)	1,288 (+3%)	11mo	$250,000	$194	51
1917 Osmer Ave SW	0.65mi	4/1.5	1,144 (-8%)	6mo	$182,000	$159	49
1674 Cleveland Ave SW	0.71mi	3/2.0 (-1)	1,166 (-7%)	1mo	$260,000	$223	46
1945 Galewood Ave SW	0.73mi	3/1.5 (-1)	1,337 (+7%)	2mo	$265,000	$198	46
1130 Whiting St SW	0.48mi	4/2.5	1,405 (+13%)	13mo	$290,000	$206	39
1255 Rathbone St SW	0.65mi	4/1.0	1,404 (+12%)	13mo	$257,000	$183	38
1160 Seneca St SW	0.74mi	3/2.0 (-1)	1,320 (+6%)	14mo	$215,000	$163	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.59×
• Total profit: $-23,228
• Equity at exit: $29,821

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-9,451
• Equity at exit: $17,292

Cash invested: $56,000 (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 49503

• Rents YoY: 2.8%
• Active inventory: 181
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,776 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$121 /mo · $1,454/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $150

Break-even live

Break-even rent $1,586

Max offer price $200,000

Occupancy floor 87%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1019 Norwich Ave SW Grand Rapids, MI	3.0	1.0	1214	$1,595	$1.31	3d	1	0.39mi
840 Lafayette Ave SE Unit 2 Grand Rapids, MI	3.0	1.0	950	$1,600	$1.68	43d	1	1.38mi
350 Ionia Ave SW Grand Rapids, MI	2.0–3.0	2.0–3.0	1400	$1,350	$0.96	11d	2	1.47mi

Listing history 39 events

1. 2026-06-18
   days on market $200,000 Active 41 DOM

   Show marketing remark (475 chars)

   This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

2. 2026-06-17
   price $200,000 Active 40 DOM

   Show marketing remark (475 chars)

   This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

3. 2026-06-17
   days on market $210,000 Active 40 DOM

   Show marketing remark (475 chars)

   This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

4. 2026-06-16
   days on market $210,000 Active 39 DOM
5. 2026-06-15
   days on market $210,000 Active 38 DOM
6. 2026-06-14
   days on market $210,000 Active 36 DOM
7. 2026-06-13
   days on market $210,000 Active 35 DOM
8. 2026-06-10
   days on market $210,000 Active 33 DOM
9. 2026-06-09
   days on market $210,000 Active 32 DOM
10. 2026-06-08
    days on market $210,000 Active 31 DOM
11. 2026-06-07
    days on market $210,000 Active 30 DOM
12. 2026-06-05
    days on market $210,000 Active 27 DOM
13. 2026-06-03
    days on market $210,000 Active 26 DOM
14. 2026-06-03
    days on market $210,000 Active 25 DOM
15. 2026-06-01
    days on market $210,000 Active 24 DOM
16. 2026-05-31
    days on market $210,000 Active 23 DOM
17. 2026-05-12
    status Active 475-char remark

    Show marketing remark (475 chars)

    This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

18. 2026-05-12
    status Active 475-char remark

    Show marketing remark (475 chars)

    This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

19. 2026-05-12
    status Active

    Show marketing remark (475 chars)

    This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

20. 2026-05-11
    historical

    Show marketing remark (475 chars)

    This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

21. 2026-05-11
    historical 475-char remark

    Show marketing remark (475 chars)

    This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

22. 2026-05-11
    historical 475-char remark

    Show marketing remark (475 chars)

    This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

23. 2026-05-07
    listed $210,000 Active 475-char remark

    Show marketing remark (475 chars)

    This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

24. 2026-05-07
    listed $210,000 Active 475-char remark

    Show marketing remark (475 chars)

    This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

25. 2026-05-07
    listed $210,000 Active

    Show marketing remark (475 chars)

    This well-maintained 4-bedroom, 1-bath home offers comfort, character, and convenience. The main living area features beautiful hardwood floors that add warmth and style, while the spacious bedrooms provide plenty of room for family or guests. Enjoy a fenced backyard--ideal for pets, entertaining, or relaxing outdoors. Nestled at the end the street, this property combines privacy with easy access to nearby amenities. A great opportunity for homeowners or investors alike.

26. 2026-03-07
    historical
27. 2025-11-18
    status Active
28. 2025-11-18
    status Active
29. 2025-11-03
    historical
30. 2025-11-03
    historical
31. 2025-10-30
    listed $210,000 Active
32. 2025-10-30
    listed $210,000 Active
33. 2024-08-01
    historical
34. 2024-08-01
    historical
35. 2024-07-20
    price $205,000
36. 2024-07-20
    price $205,000
37. 2024-07-20
    price $205,000
38. 2024-06-14
    listed $215,000 Active
39. 2024-06-14
    listed $215,000 Active

ⓘ 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: $1,454 · $121/mo
• Projected year-2 tax: $2,267 · $189/mo
• Expected delta: +$813/yr (+$68/mo · 55.9%)

ⓘ 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 ≥97°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: $21,316
• − Mortgage interest: −$11,203
• − Property taxes: −$1,454
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − Depreciation: −$5,818
• Taxable loss: −$1,570
• Est. tax savings @ 24.0%: +$377
• After-tax cash flow: $2,177/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): 39,489
• Household income: $64,661
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 1891.0

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 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 19% Two or more races 14% Black 14% Asian 3%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Iranian 10% Romanian 7% Slovak 2%
• Foreign-born: 11% · Canada, South Korea, China
• Languages at home: 82% English-only · Spanish 15% Chinese 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: ▼ -347.22%
• Current HPI: 312.3878
• Rent YoY: ▲ 2.82%
• 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

-7.0% since first listed

26 events — show timeline

• 2026-06-18 Price Changed $200,000 MiRealSource-MiMLS
• 2026-06-17 Price Changed $200,000 REALCOMP
• 2026-06-17 Price Changed $200,000 SW Michigan MLS
• 2026-05-12 Relisted — REALCOMP
• 2026-05-12 Relisted — MiRealSource-MiMLS
• 2026-05-12 Relisted — SW Michigan MLS
• 2026-05-11 Listing Removed — SW Michigan MLS
• 2026-05-11 Listing Removed — REALCOMP
• 2026-05-11 Listing Removed — MiRealSource-MiMLS
• 2026-05-07 Listed $210,000 SW Michigan MLS
• 2026-05-07 Listed $210,000 REALCOMP
• 2026-05-07 Listed $210,000 MiRealSource-MiMLS
• 2026-03-07 Listing Removed — MiRealSource-MiMLS
• 2025-11-18 Relisted — REALCOMP
• 2025-11-18 Relisted — MiRealSource-MiMLS
• 2025-11-03 Listing Removed — REALCOMP
• 2025-11-03 Listing Removed — MiRealSource-MiMLS
• 2025-10-30 Listed $210,000 REALCOMP
• 2025-10-30 Listed $210,000 MiRealSource-MiMLS
• 2024-08-01 Listing Removed — REALCOMP
• 2024-08-01 Listing Removed — MiRealSource-MiMLS
• 2024-07-20 Price Changed $205,000 MiRealSource-MiMLS
• 2024-07-20 Price Changed $205,000 REALCOMP
• 2024-07-20 Price Changed $205,000 SW Michigan MLS
• 2024-06-14 Listed $215,000 REALCOMP
• 2024-06-14 Listed $215,000 MiRealSource-MiMLS

Property tax history

+9.0%/yr

Latest (2025): $1,454 · +11.7% YoY. Source: county tax records.