1689 60th St SE · Kentwood, MI 49508

$190,000

4 bd · 1.0 ba · 988 sqft · SingleFamily · 238 Days on market

Built 1954 0.37 ac lot $192/sqft · 40% below area Est $317k · 40% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity. This property is being sold as-is. Cash only.

Key facts

• 0.37 acre lot
• Garage
• Built 1954

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $841 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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 (+5.6%/yr); 155 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 44% 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $53k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 238 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 4y 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 $130k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.36% ✓
• Cap rate: 11.60%
• Cash-on-cash: 18.96%
• DSCR: 1.84
• GRM: 6.1

CMA / ARV

• ARV (median comp): $317,423
• List price: $190,000
• Delta: -40.14%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1393 Katrina Dr SE	0.65mi	3/1.5 (-1)	890 (-10%)	4mo	$249,900	$281	42
1309 Katrina Dr SE	0.72mi	3/2.0 (-1)	1,022 (+3%)	18mo	$300,000	$294	36
1411 Brookmark St SE	0.70mi	3/1.0 (-1)	1,076 (+9%)	22mo	$255,142	$237	29

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 · 5.64% rent growth · sell at horizon

5-year hold

• IRR: 13.6%
• Equity multiple: 1.56×
• Total profit: $29,796
• Equity at exit: $28,330

10-year hold

• IRR: 24.3%
• Equity multiple: 3.36×
• Total profit: $125,405
• Equity at exit: $16,428

Cash invested: $53,200 (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 49508

• Rents YoY: 5.6%
• Active inventory: 155
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,593 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$132 /mo · $1,585/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $841

Break-even live

Break-even rent $1,529

Max offer price $190,000

Occupancy floor 63%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1695 Bloomfield Dr SE Grand Rapids, MI	2.0–3.0	1.5–2.0	1252	$2,175	$1.74	2d	3	0.15mi
1471 Brookmark St SE Grand Rapids, MI	5.0	2.0	1022	$2,295	$2.25	23d	1	0.67mi

Listing history 29 events

1. 2026-06-18
   days on market $190,000 Active 238 DOM
2. 2026-06-17
   days on market $190,000 Active 237 DOM
3. 2026-06-16
   days on market $190,000 Active 236 DOM
4. 2026-06-15
   days on market $190,000 Active 235 DOM
5. 2026-06-14
   days on market $190,000 Active 233 DOM
6. 2026-06-13
   days on market $190,000 Active 232 DOM
7. 2026-06-10
   days on market $190,000 Active 230 DOM
8. 2026-06-09
   days on market $190,000 Active 229 DOM
9. 2026-06-08
   days on market $190,000 Active 228 DOM
10. 2026-06-07
    days on market $190,000 Active 227 DOM
11. 2026-06-03
    days on market $190,000 Active 223 DOM
12. 2026-06-03
    days on market $190,000 Active 222 DOM
13. 2026-06-01
    days on market $190,000 Active 221 DOM
14. 2026-05-31
    days on market $190,000 Active 220 DOM
15. 2025-10-23
    listed $190,000 Active 75-char remark

    Show marketing remark (75 chars)

    Great investment opportunity. This property is being sold as-is. Cash only.

16. 2025-10-23
    listed $190,000 Active 75-char remark

    Show marketing remark (75 chars)

    Great investment opportunity. This property is being sold as-is. Cash only.

17. 2025-10-23
    listed $190,000 Active

    Show marketing remark (75 chars)

    Great investment opportunity. This property is being sold as-is. Cash only.

18. 2025-04-23
    historical
19. 2025-04-23
    status Active
20. 2025-04-22
    historical
21. 2025-04-21
    listed $199,900 Active
22. 2022-04-08
    soldstatus $130,000
23. 2022-04-07
    soldstatus $130,000 Sold
24. 2022-04-07
    soldstatus $130,000 Sold
25. 2022-03-22
    status Pending
26. 2022-03-22
    status Pending
27. 2022-03-17
    listed $90,000 Active
28. 2022-03-17
    listed $90,000 Active
29. 2022-03-17
    listed $90,000

ⓘ 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: $1,585 · $132/mo
• Projected year-2 tax: $2,256 · $188/mo
• Expected delta: +$670/yr (+$56/mo · 42.3%)

ⓘ 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: $31,114
• − Mortgage interest: −$10,643
• − Property taxes: −$1,585
• − Insurance: −$950
• − Repairs & maintenance: −$2,489
• − Management: −$2,489
• − Depreciation: −$5,527
• Taxable income: $7,430
• Est. tax owed @ 24.0%: −$1,783
• After-tax cash flow: $8,305/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: 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): 42,720
• Household income: $70,120
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 1358.0

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 0.68)
• Race & ethnicity: White 48% Black 24% Two or more races 12% Hispanic / Latino 11% Asian 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 15% Romanian 3% Swiss 3%
• Foreign-born: 19% · Canada, Philippines, India
• Languages at home: 75% English-only · Spanish 7% Other Indo-European 4% Other Asian/Pacific 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: ▼ -153.47%
• Current HPI: 274.2591
• Rent YoY: ▲ 5.64%
• 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

+111.1% since first listed

15 events — show timeline

• 2025-10-23 Listed $190,000 MiRealSource-MiMLS
• 2025-10-23 Listed $190,000 SW Michigan MLS
• 2025-10-23 Listed $190,000 REALCOMP
• 2025-04-23 Listing Removed — MiRealSource-MiMLS
• 2025-04-23 Relisted — MiRealSource-MiMLS
• 2025-04-22 Listing Removed — MiRealSource-MiMLS
• 2025-04-21 Listed $199,900 MiRealSource-MiMLS
• 2022-04-08 Sold (Public Records) $130,000 Public Records
• 2022-04-07 Sold (MLS) $130,000 SW Michigan MLS
• 2022-04-07 Sold (MLS) $130,000 REALCOMP
• 2022-03-22 Pending — SW Michigan MLS
• 2022-03-22 Pending — REALCOMP
• 2022-03-17 Listed $90,000 MiRealSource-MiMLS
• 2022-03-17 Listed $90,000 SW Michigan MLS
• 2022-03-17 Listed $90,000 REALCOMP

Property tax history

+1.3%/yr

Latest (2025): $1,585 · -46.1% YoY. Source: county tax records.