1528 Hamilton Ave NW · Grand Rapids, MI 49504

$194,900

4 bd · 1.0 ba · 1,357 sqft · SingleFamily public records · 3 Days on market

Built 1915 3,790 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 +22.7/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +5.6/10.0
• Livability +4.2/5.0
• 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

Spacious 4 bedroom, 1 bath home located on the desirable Northwest side, conveniently close to shopping, dining, and major highways. The main floor features one bedroom, a full bathroom, a bright kitchen, formal dining area, and a large living room, perfect for everyday living and entertaining. Upstairs, you'll find three additional bedrooms plus a versatile bonus room for a home office, nursery, or flex space. Recent updates include new flooring throughout, fresh paint, and an updated bathroom. Don't miss your chance, schedule your showing today!

Key facts

• 3,790 sq ft lot
• Built 1915
• Listed 3 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Cap rate 8.4% 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 (+2.6%/yr); 153 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% 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).
• This rent runs 35% of the median local income ($70k/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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 33y 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 $98k; list at $195k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,900

Questions for the listing agent

1. Built in 1915 — 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: 1.06% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.40%
• DSCR: 1.33
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.64% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-10,885
• Equity at exit: $29,060

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $15,093
• Equity at exit: $16,851

Cash invested: $54,572 (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 49504

• Rents YoY: 2.6%
• Active inventory: 153
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,067 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$193 /mo · $2,314/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $337

Break-even live

Break-even rent $1,641

Max offer price $194,900

Occupancy floor 79%

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1429 Quarry Ave NW Unit 1 Grand Rapids, MI	3.0	1.5	1200	$1,800	$1.50	43d	1	0.15mi
1335 Hamilton Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1124	$1,395	$1.24	43d	1	0.23mi
523 Crosby St NW Grand Rapids, MI	5.0	2.0	1701	$2,200	$1.29	43d	1	0.28mi
734 Crosby St NW Unit 1 Grand Rapids, MI	3.0	1.0	1057	$1,800	$1.70	43d	1	0.46mi
1044 Muskegon Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1100	$1,800	$1.64	43d	1	0.60mi
927 Arianna St NW Grand Rapids, MI	4.0	3.0	1500	$3,000	$2.00	43d	1	0.63mi
50 Mathews Ct NE Grand Rapids, MI	3.0	1.5	1100	$1,850	$1.68	43d	1	0.67mi
138 Travis St NE Grand Rapids, MI	4.0	2.0	1800	$2,395	$1.33	11d	1	0.74mi
1756 Tamarack Ave NW Grand Rapids, MI	3.0	2.0	1700	$2,195	$1.29	43d	1	0.74mi
1004 Jennette Ave NW Grand Rapids, MI	3.0	1.0	1000	$1,025	$1.02	43d	1	0.78mi
135 Page St NE Grand Rapids, MI	3.0	2.0	1100	$3,100	$2.82	43d	1	0.82mi
700 Broadway Ave NW Unit 1 Grand Rapids, MI	4.0	2.0	1450	$2,795	$1.93	43d	1	1.03mi
873 McCarty St NW Grand Rapids, MI	3.0	2.0	1492	$2,100	$1.41	2d	1	1.43mi
519 Shirley St NE Grand Rapids, MI	5.0	2.0	1192	$2,045	$1.72	43d	1	1.45mi

Listing history 23 events

1. 2026-04-21
   status Pending 553-char remark

   Show marketing remark (553 chars)

   Spacious 4 bedroom, 1 bath home located on the desirable Northwest side, conveniently close to shopping, dining, and major highways. The main floor features one bedroom, a full bathroom, a bright kitchen, formal dining area, and a large living room, perfect for everyday living and entertaining. Upstairs, you'll find three additional bedrooms plus a versatile bonus room for a home office, nursery, or flex space. Recent updates include new flooring throughout, fresh paint, and an updated bathroom. Don't miss your chance, schedule your showing today!

2. 2026-04-21
   status Pending 553-char remark

   Show marketing remark (553 chars)

   Spacious 4 bedroom, 1 bath home located on the desirable Northwest side, conveniently close to shopping, dining, and major highways. The main floor features one bedroom, a full bathroom, a bright kitchen, formal dining area, and a large living room, perfect for everyday living and entertaining. Upstairs, you'll find three additional bedrooms plus a versatile bonus room for a home office, nursery, or flex space. Recent updates include new flooring throughout, fresh paint, and an updated bathroom. Don't miss your chance, schedule your showing today!

3. 2026-04-21
   status Pending

   Show marketing remark (553 chars)

   Spacious 4 bedroom, 1 bath home located on the desirable Northwest side, conveniently close to shopping, dining, and major highways. The main floor features one bedroom, a full bathroom, a bright kitchen, formal dining area, and a large living room, perfect for everyday living and entertaining. Upstairs, you'll find three additional bedrooms plus a versatile bonus room for a home office, nursery, or flex space. Recent updates include new flooring throughout, fresh paint, and an updated bathroom. Don't miss your chance, schedule your showing today!

4. 2026-04-18
   listed $194,900 Active 553-char remark

   Show marketing remark (553 chars)

   Spacious 4 bedroom, 1 bath home located on the desirable Northwest side, conveniently close to shopping, dining, and major highways. The main floor features one bedroom, a full bathroom, a bright kitchen, formal dining area, and a large living room, perfect for everyday living and entertaining. Upstairs, you'll find three additional bedrooms plus a versatile bonus room for a home office, nursery, or flex space. Recent updates include new flooring throughout, fresh paint, and an updated bathroom. Don't miss your chance, schedule your showing today!

5. 2026-04-18
   listed $194,900 Active 553-char remark

   Show marketing remark (553 chars)

   Spacious 4 bedroom, 1 bath home located on the desirable Northwest side, conveniently close to shopping, dining, and major highways. The main floor features one bedroom, a full bathroom, a bright kitchen, formal dining area, and a large living room, perfect for everyday living and entertaining. Upstairs, you'll find three additional bedrooms plus a versatile bonus room for a home office, nursery, or flex space. Recent updates include new flooring throughout, fresh paint, and an updated bathroom. Don't miss your chance, schedule your showing today!

6. 2026-04-18
   listed $194,900 Active

   Show marketing remark (553 chars)

   Spacious 4 bedroom, 1 bath home located on the desirable Northwest side, conveniently close to shopping, dining, and major highways. The main floor features one bedroom, a full bathroom, a bright kitchen, formal dining area, and a large living room, perfect for everyday living and entertaining. Upstairs, you'll find three additional bedrooms plus a versatile bonus room for a home office, nursery, or flex space. Recent updates include new flooring throughout, fresh paint, and an updated bathroom. Don't miss your chance, schedule your showing today!

7. 2018-03-07
   soldstatus $98,500
8. 2018-03-02
   soldstatus $98,500
9. 2018-03-02
   soldstatus $98,500 Sold
10. 2018-02-01
    status Pending
11. 2018-02-01
    status Active
12. 2018-01-28
    status Pending
13. 2018-01-23
    listed $98,500
14. 2018-01-23
    listed $98,500 Active
15. 2018-01-23
    listed $98,500
16. 2015-02-09
    historical
17. 2012-04-26
    historical
18. 2010-04-26
    listed $64,900
19. 2010-04-26
    listed $64,900
20. 1993-12-30
    soldstatus $34,500
21. 1993-12-30
    soldstatus $34,500
22. 1993-09-01
    listed $34,897
23. 1993-09-01
    listed $34,897

ⓘ 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: $2,314 · $193/mo
• Projected year-2 tax: $2,658 · $221/mo
• Expected delta: +$344/yr (+$29/mo · 14.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone D · 24% 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: $24,802
• − Mortgage interest: −$10,917
• − Property taxes: −$2,314
• − Insurance: −$974
• − Repairs & maintenance: −$1,984
• − Management: −$1,984
• − Depreciation: −$5,670
• Taxable income: $958
• Est. tax owed @ 24.0%: −$230
• After-tax cash flow: $3,810/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): 40,036
• Household income: $70,119
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 2132.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 16% Two or more races 10% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Romanian 11% Iranian 10% Lithuanian 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -274.76%
• Current HPI: 313.231
• Rent YoY: ▲ 2.64%
• 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

+458.5% since first listed

23 events — show timeline

• 2026-04-21 Pending — MiRealSource-MiMLS
• 2026-04-21 Pending — REALCOMP
• 2026-04-21 Pending — SW Michigan MLS
• 2026-04-18 Listed $194,900 SW Michigan MLS
• 2026-04-18 Listed $194,900 REALCOMP
• 2026-04-18 Listed $194,900 MiRealSource-MiMLS
• 2018-03-07 Sold (Public Records) $98,500 Public Records
• 2018-03-02 Sold (MLS) $98,500 SW Michigan MLS
• 2018-03-02 Sold (MLS) $98,500 REALCOMP
• 2018-02-01 Pending — SW Michigan MLS
• 2018-02-01 Relisted — SW Michigan MLS
• 2018-01-28 Pending — SW Michigan MLS
• 2018-01-23 Listed $98,500 MiRealSource-MiMLS
• 2018-01-23 Listed $98,500 SW Michigan MLS
• 2018-01-23 Listed $98,500 REALCOMP
• 2015-02-09 Listing Removed — SW Michigan MLS
• 2012-04-26 Listing Removed — REALCOMP
• 2010-04-26 Listed $64,900 REALCOMP
• 2010-04-26 Listed $64,900 SW Michigan MLS
• 1993-12-30 Sold (MLS) $34,500 REALCOMP
• 1993-12-30 Sold (MLS) $34,500 SW Michigan MLS
• 1993-09-01 Listed $34,897 REALCOMP
• 1993-09-01 Listed $34,897 SW Michigan MLS

Property tax history

+11.7%/yr

Latest (2025): $2,314 · +2.7% YoY. Source: county tax records.