905 Dickinson St SE · Grand Rapids, MI 49507

$190,000

3 bd · 1.0 ba · 916 sqft · SingleFamily public records · 4 Days on market

Built 1946 4,922 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 +11.2/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• 1% rule +3.8/10.0
• Rent growth +3.7/5.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming 3-bedroom home. The main level features two bedrooms and a full bathroom, You will also find the kitchen and laundry area on the first floor, with the washer, dryer, stove, and refrigerator all included, Upstairs, the third bedroom provides a private and flexible space, ideal for a guest room, home office, or additional living area. Step outside to enjoy the fenced yard, perfect for outdoor activities, pets, or added privacy. The property also includes a 1-stall garage, This home is a great option for buyers looking for a manageable space with essential features already in place. Whether you are buying your first home or looking for a smart investment opportunity in Grand Rapids, this property delivers both value and functionality. Conveniently situated near schools, parks, shopping, and major highways, it offers easy access to everything the city has to offer. Don't miss the chance to make this property your own

Key facts

• 4,922 sq ft lot
• Garage
• Built 1946

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-73 ($-874/yr) — negative.
• To cash-flow at today's rent, offer at most $177k (6.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (12.3% below list).
• Recommended offer: $167k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 4.5% in Grand Rapids — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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 33% of the median local income ($61k/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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 32 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 $91k; list at $190k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $166,580 (12.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1946 — 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. 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?
6. 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.
7. 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.
8. 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: 0.88% ✗
• Cap rate: 5.83%
• Cash-on-cash: -1.64%
• DSCR: 0.93
• GRM: 9.5

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: -16.9%
• Equity multiple: 0.39×
• Total profit: $-32,387
• Equity at exit: $28,330

10-year hold

• IRR: -5.7%
• Equity multiple: 0.60×
• Total profit: $-21,267
• 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 49507

• Rents YoY: 4.7%
• Active inventory: 178
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,666 high
• Mortgage (P&I): −$996
• Tax from tax record: −$313 /mo · $3,759/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-73

Break-even live

Break-even rent $1,758

Max offer price $177,137

Occupancy floor 99%

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 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1057 Griggs St SE Grand Rapids, MI	2.0	1.0	1100	$1,550	$1.41	43d	1	0.24mi
950 Merritt St SE Grand Rapids, MI	3.0	1.0	1000	$2,100	$2.10	43d	1	0.42mi
459 Dickinson St SE Grand Rapids, MI	2.0	1.0	731	$1,195	$1.63	43d	1	0.52mi
1555 Margaret Ave SE Grand Rapids, MI	2.0	1.0	900	$1,500	$1.67	14d	1	0.71mi
1220 Ottillia St SE Unit D Grand Rapids, MI	2.0	1.0	750	$1,150	$1.53	43d	1	0.79mi
1309 Madison Ave SE Grand Rapids, MI	1.0–2.0	1.0	775	$1,560	$2.01	2d	1	0.83mi
2040 Division Ave S Unit 207 Grand Rapids, MI	2.0	1.0	768	$1,703	$2.22	2d	1	1.10mi
19 La Belle St SE Grand Rapids, MI	2.0	1.0	846	$1,045	$1.24	43d	1	1.14mi
434 Worden St SE Unit 2 Grand Rapids, MI	2.0	1.0	900	$1,495	$1.66	43d	1	1.22mi
840 Lafayette Ave SE Unit 2 Grand Rapids, MI	3.0	1.0	950	$1,600	$1.68	43d	1	1.31mi
1114 Dunham St SE Unit 1 Grand Rapids, MI	2.0	1.0	894	$1,300	$1.45	43d	1	1.32mi
242 Elm St SW Grand Rapids, MI	2.0	1.5	1100	$3,200	$2.91	2d	1	1.40mi
1970 Burton St SE Unit IVA40 Grand Rapids, MI	2.0	1.0	800	$1,100	$1.38	43d	1	1.40mi
1970 Burton St SE Unit IVA38 Grand Rapids, MI	2.0	1.0	800	$1,450	$1.81	43d	1	1.40mi
1966 Burton St SE Unit IVA24 Grand Rapids, MI	2.0	1.5	860	$1,450	$1.69	43d	1	1.40mi
1966 Burton St SE Unit IVA33 Grand Rapids, MI	2.0	1.5	860	$1,350	$1.57	43d	1	1.40mi
1960 Burton St SE Grand Rapids, MI	1.0–2.0	1.0–1.5	760	$1,450	$1.91	2d	3	1.42mi

Listing history 50 events

1. 2026-04-19
   status Pending 951-char remark

   Show marketing remark (766 chars)

   Welcome to this charming 3-bedroom home. The main level features two bedrooms and a full bathroom, You will also find the kitchen and laundry area on the first floor, with the washer, dryer, stove, and refrigerator all included, Upstairs, the third bedroom provides a private and flexible space, ideal for a guest room, home office, or additional living area. Step outside to enjoy the fenced yard, perfect for outdoor activities, pets, or added privacy. The property also includes a 1-stall garage, This home is a great option for buyers looking for a manageable space with essential features already in place. Whether you are buying your first home or looking for a smart investment opportunity in Grand Rapids, this property delivers both value and functionality.

2. 2026-04-19
   status Pending 766-char remark

   Show marketing remark (766 chars)

   Welcome to this charming 3-bedroom home. The main level features two bedrooms and a full bathroom, You will also find the kitchen and laundry area on the first floor, with the washer, dryer, stove, and refrigerator all included, Upstairs, the third bedroom provides a private and flexible space, ideal for a guest room, home office, or additional living area. Step outside to enjoy the fenced yard, perfect for outdoor activities, pets, or added privacy. The property also includes a 1-stall garage, This home is a great option for buyers looking for a manageable space with essential features already in place. Whether you are buying your first home or looking for a smart investment opportunity in Grand Rapids, this property delivers both value and functionality.

3. 2026-04-19
   status Pending

   Show marketing remark (766 chars)

   Welcome to this charming 3-bedroom home. The main level features two bedrooms and a full bathroom, You will also find the kitchen and laundry area on the first floor, with the washer, dryer, stove, and refrigerator all included, Upstairs, the third bedroom provides a private and flexible space, ideal for a guest room, home office, or additional living area. Step outside to enjoy the fenced yard, perfect for outdoor activities, pets, or added privacy. The property also includes a 1-stall garage, This home is a great option for buyers looking for a manageable space with essential features already in place. Whether you are buying your first home or looking for a smart investment opportunity in Grand Rapids, this property delivers both value and functionality.

4. 2026-04-14
   listed $190,000 Active 951-char remark

   Show marketing remark (766 chars)

   Welcome to this charming 3-bedroom home. The main level features two bedrooms and a full bathroom, You will also find the kitchen and laundry area on the first floor, with the washer, dryer, stove, and refrigerator all included, Upstairs, the third bedroom provides a private and flexible space, ideal for a guest room, home office, or additional living area. Step outside to enjoy the fenced yard, perfect for outdoor activities, pets, or added privacy. The property also includes a 1-stall garage, This home is a great option for buyers looking for a manageable space with essential features already in place. Whether you are buying your first home or looking for a smart investment opportunity in Grand Rapids, this property delivers both value and functionality.

5. 2026-04-14
   listed $190,000 Active 766-char remark

   Show marketing remark (766 chars)

   Welcome to this charming 3-bedroom home. The main level features two bedrooms and a full bathroom, You will also find the kitchen and laundry area on the first floor, with the washer, dryer, stove, and refrigerator all included, Upstairs, the third bedroom provides a private and flexible space, ideal for a guest room, home office, or additional living area. Step outside to enjoy the fenced yard, perfect for outdoor activities, pets, or added privacy. The property also includes a 1-stall garage, This home is a great option for buyers looking for a manageable space with essential features already in place. Whether you are buying your first home or looking for a smart investment opportunity in Grand Rapids, this property delivers both value and functionality.

6. 2026-04-14
   listed $190,000 Active

   Show marketing remark (766 chars)

   Welcome to this charming 3-bedroom home. The main level features two bedrooms and a full bathroom, You will also find the kitchen and laundry area on the first floor, with the washer, dryer, stove, and refrigerator all included, Upstairs, the third bedroom provides a private and flexible space, ideal for a guest room, home office, or additional living area. Step outside to enjoy the fenced yard, perfect for outdoor activities, pets, or added privacy. The property also includes a 1-stall garage, This home is a great option for buyers looking for a manageable space with essential features already in place. Whether you are buying your first home or looking for a smart investment opportunity in Grand Rapids, this property delivers both value and functionality.

7. 2019-01-04
   soldstatus $91,000
8. 2018-12-26
   soldstatus $91,000
9. 2018-12-26
   soldstatus $91,000 Sold
10. 2018-09-28
    status Pending
11. 2018-09-20
    price $89,900
12. 2018-09-10
    price $94,900
13. 2018-08-15
    listed $89,900
14. 2018-08-15
    listed $99,900 Active
15. 2018-08-15
    listed $89,900
16. 2016-08-05
    historical
17. 2016-03-18
    historical
18. 2015-10-06
    price $49,900
19. 2015-09-04
    listed $53,000 Active
20. 2015-08-05
    listed $49,900
21. 2015-02-11
    historical
22. 2015-02-09
    historical
23. 2015-02-08
    historical
24. 2015-02-08
    historical
25. 2015-02-08
    historical
26. 2015-02-07
    historical
27. 2015-02-05
    historical
28. 2015-01-31
    historical
29. 2015-01-30
    historical
30. 2013-11-06
    soldstatus $19,900
31. 2013-11-06
    soldstatus $19,900
32. 2013-10-10
    listed $19,900
33. 2013-10-10
    listed $19,900
34. 2013-09-04
    historical
35. 2013-04-25
    listed $70,000
36. 2013-04-25
    listed $70,000
37. 2010-02-15
    historical
38. 2009-11-24
    listed $69,900
39. 2009-11-24
    listed $69,900
40. 2009-06-01
    historical
41. 2008-12-31
    historical
42. 2008-11-01
    listed $74,987
43. 2008-11-01
    listed $74,987
44. 2008-11-01
    historical
45. 2008-09-22
    listed $850
46. 2008-09-22
    listed $850
47. 2007-09-21
    listed $79,900
48. 2007-09-21
    listed $79,900
49. 2007-01-30
    soldstatus $65,900
50. 2007-01-24
    soldstatus $65,900

ⓘ 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: $3,759 · $313/mo
• Projected year-2 tax: $3,759 · $313/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $19,990
• − Mortgage interest: −$10,643
• − Property taxes: −$3,759
• − Insurance: −$950
• − Repairs & maintenance: −$1,599
• − Management: −$1,599
• − Depreciation: −$5,527
• Taxable loss: −$4,088
• Est. tax savings @ 24.0%: +$981
• After-tax cash flow: $107/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

+387.2% since first listed

69 events — show timeline

• 2026-04-19 Pending — REALCOMP
• 2026-04-19 Pending — MiRealSource-MiMLS
• 2026-04-19 Pending — SW Michigan MLS
• 2026-04-14 Listed $190,000 SW Michigan MLS
• 2026-04-14 Listed $190,000 MiRealSource-MiMLS
• 2026-04-14 Listed $190,000 REALCOMP
• 2019-01-04 Sold (Public Records) $91,000 Public Records
• 2018-12-26 Sold (MLS) $91,000 SW Michigan MLS
• 2018-12-26 Sold (MLS) $91,000 REALCOMP
• 2018-09-28 Pending — SW Michigan MLS
• 2018-09-20 Price Changed $89,900 SW Michigan MLS
• 2018-09-10 Price Changed $94,900 SW Michigan MLS
• 2018-08-15 Listed $89,900 MiRealSource-MiMLS
• 2018-08-15 Listed $99,900 SW Michigan MLS
• 2018-08-15 Listed $89,900 REALCOMP
• 2016-08-05 Listing Removed — REALCOMP
• 2016-03-18 Listing Removed — SW Michigan MLS
• 2015-10-06 Price Changed $49,900 SW Michigan MLS
• 2015-09-04 Listed $53,000 SW Michigan MLS
• 2015-08-05 Listed $49,900 REALCOMP
• 2015-02-11 Listing Removed — SW Michigan MLS
• 2015-02-09 Listing Removed — SW Michigan MLS
• 2015-02-08 Listing Removed — SW Michigan MLS
• 2015-02-08 Listing Removed — SW Michigan MLS
• 2015-02-08 Listing Removed — SW Michigan MLS
• 2015-02-07 Listing Removed — SW Michigan MLS
• 2015-02-05 Listing Removed — SW Michigan MLS
• 2015-01-31 Listing Removed — SW Michigan MLS
• 2015-01-30 Listing Removed — SW Michigan MLS
• 2013-11-06 Sold (MLS) $19,900 REALCOMP
• 2013-11-06 Sold (MLS) $19,900 SW Michigan MLS
• 2013-10-10 Listed $19,900 REALCOMP
• 2013-10-10 Listed $19,900 SW Michigan MLS
• 2013-09-04 Listing Removed — REALCOMP
• 2013-04-25 Listed $70,000 REALCOMP
• 2013-04-25 Listed $70,000 SW Michigan MLS
• 2010-02-15 Listing Removed — REALCOMP
• 2009-11-24 Listed $69,900 REALCOMP
• 2009-11-24 Listed $69,900 SW Michigan MLS
• 2009-06-01 Listing Removed — REALCOMP
• 2008-12-31 Listing Removed — REALCOMP
• 2008-11-01 Listing Removed — REALCOMP
• 2008-11-01 Listed $74,987 REALCOMP
• 2008-11-01 Listed $74,987 SW Michigan MLS
• 2008-09-22 Listed $850 REALCOMP
• 2008-09-22 Listed $850 SW Michigan MLS
• 2007-09-21 Listed $79,900 REALCOMP
• 2007-09-21 Listed $79,900 SW Michigan MLS
• 2007-01-30 Sold (Public Records) $65,900 Public Records
• 2007-01-24 Sold (MLS) $65,900 REALCOMP
• 2007-01-24 Sold (MLS) $65,900 SW Michigan MLS
• 2006-10-09 Listed $70,000 REALCOMP
• 2006-10-09 Listed $70,000 SW Michigan MLS
• 2006-09-26 Listing Removed — REALCOMP
• 2006-06-26 Listed $69,900 REALCOMP
• 2006-06-26 Listed $69,900 SW Michigan MLS
• 2006-06-22 Listing Removed — REALCOMP
• 2005-05-12 Listed $72,900 REALCOMP
• 2005-05-12 Listed $72,900 SW Michigan MLS
• 1996-03-15 Sold (MLS) $32,000 REALCOMP
• 1996-03-15 Sold (MLS) $32,000 SW Michigan MLS
• 1995-09-26 Listed $32,000 REALCOMP
• 1995-09-26 Listed $32,000 SW Michigan MLS
• 1995-03-23 Listing Removed — REALCOMP
• 1994-09-23 Listed $36,000 REALCOMP
• 1994-09-23 Listed $36,000 SW Michigan MLS
• 1994-06-05 Listing Removed — REALCOMP
• 1993-10-04 Listed $39,000 REALCOMP
• 1993-10-04 Listed $39,000 SW Michigan MLS

Property tax history

+12.5%/yr

Latest (2025): $3,759 · -1.2% YoY. Source: county tax records.