3456 Senora Ave SE · Grand Rapids, MI 49508

$259,900

4 bd · 1.5 ba · 1,654 sqft · SingleFamily public records · 3 Days on market

Built 1956 0.28 ac lot Est $316k · 18% under

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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 +19.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Due to showing activity, we are setting an offer review deadline of this Thursday at Noon. NO SIGN IN YARD. Great opportunity to build equity and make this classic Cape Cod your own. This home features 4 bedrooms, with 2 bedrooms and a half bath upstairs and 2 bedrooms with a full bath on the main floor. Hardwood floors run through the living room and two main-floor bedrooms. The cozy living room includes a fireplace, adding warmth and character. A breezeway connects the home to the attached one-stall garage. Enjoy a fenced backyard, brick and vinyl exterior, and vinyl windows. Water heater replaced in 2024; furnace and A/C are approximately 18 years old. Copper plumbing throughout. Roof age is unknown but appears in good condition. Located in a quiet neighborhood within close distance to Ken-O-Sha Park.

Key facts

• Vinyl windows
• Cozy living room
• Copper plumbing

Tags

• HARDWOOD FLOORS
• COZY LIVING ROOM
• FENCED BACKYARD
• BRICK AND VINYL EXTERIOR
• VINYL WINDOWS
• COPPER PLUMBING

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Natural gas available; Electricity available; Natural gas water heater
• Home design: Cape Cod style; Single-family residence; Public water
• Construction: Built in 1956; Brick and vinyl siding; Asphalt roof
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Cooling available
• Interior features: Gas log fireplace; Replacement windows; Full basement; 9 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/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 $246k (5.2% below list).
• Recommended offer: $246k (5.2% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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 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 42% 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 $2k of loan paydown is wiped out by about $8k 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.
• 3 sale attempts 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 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $246,391 (5.2% below list)

Questions for the listing agent

1. Built in 1956 — 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: 0.95% ✗
• Cap rate: 7.69%
• Cash-on-cash: 4.99%
• DSCR: 1.22
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $315,914
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1231 Richwood Dr SE	0.58mi	3/2.0 (-1)	1,632 (-1%)	6mo	$352,000	$216	58
1303 Richwood Dr SE	0.58mi	4/1.5	1,740 (+5%)	8mo	$335,000	$193	58
3930 Winewood Ct SE	0.55mi	3/2.0 (-1)	1,807 (+9%)	14mo	$345,000	$191	40
1317 Richwood Dr SE	0.58mi	4/2.0	1,885 (+14%)	9mo	$347,000	$184	40
1556 Belmar Dr SE	0.61mi	3/2.0 (-1)	1,883 (+14%)	10mo	$340,000	$181	33

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: -5.8%
• Equity multiple: 0.78×
• Total profit: $-16,192
• Equity at exit: $38,752

10-year hold

• IRR: 6.5%
• Equity multiple: 1.54×
• Total profit: $39,573
• Equity at exit: $22,471

Cash invested: $72,772 (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: 8.8×

Monthly cashflow live

• Estimated rent: $2,464 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$173 /mo · $2,074/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $302

Break-even live

Break-even rent $2,081

Max offer price $259,900

Occupancy floor 83%

Sensitivity live

Price	-10% $450	-5% $376	+0% $302	+5% $229	+10% $155
Rent	-10% $108	-5% $205	+0% $302	+5% $400	+10% $497
Rate	-1.0pp $433	-0.5pp $369	base $302	+0.5pp $235	+1.0pp $167

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3454 Brooklyn Ave SE Grand Rapids, MI	3.0	2.0	1232	$1,900	$1.54	11d	1	0.31mi
2551 Eastern Ave SE Unit 1 Grand Rapids, MI	3.0	2.0	1600	$2,100	$1.31	44d	1	1.42mi

Listing history 6 events

1. 2026-05-07
   status Pending 815-char remark

   Show marketing remark (815 chars)

   Due to showing activity, we are setting an offer review deadline of this Thursday at Noon. NO SIGN IN YARD. Great opportunity to build equity and make this classic Cape Cod your own. This home features 4 bedrooms, with 2 bedrooms and a half bath upstairs and 2 bedrooms with a full bath on the main floor. Hardwood floors run through the living room and two main-floor bedrooms. The cozy living room includes a fireplace, adding warmth and character. A breezeway connects the home to the attached one-stall garage. Enjoy a fenced backyard, brick and vinyl exterior, and vinyl windows. Water heater replaced in 2024; furnace and A/C are approximately 18 years old. Copper plumbing throughout. Roof age is unknown but appears in good condition. Located in a quiet neighborhood within close distance to Ken-O-Sha Park.

2. 2026-05-07
   status Pending 815-char remark

   Show marketing remark (815 chars)

   Due to showing activity, we are setting an offer review deadline of this Thursday at Noon. NO SIGN IN YARD. Great opportunity to build equity and make this classic Cape Cod your own. This home features 4 bedrooms, with 2 bedrooms and a half bath upstairs and 2 bedrooms with a full bath on the main floor. Hardwood floors run through the living room and two main-floor bedrooms. The cozy living room includes a fireplace, adding warmth and character. A breezeway connects the home to the attached one-stall garage. Enjoy a fenced backyard, brick and vinyl exterior, and vinyl windows. Water heater replaced in 2024; furnace and A/C are approximately 18 years old. Copper plumbing throughout. Roof age is unknown but appears in good condition. Located in a quiet neighborhood within close distance to Ken-O-Sha Park.

3. 2026-05-07
   status Pending

   Show marketing remark (815 chars)

   Due to showing activity, we are setting an offer review deadline of this Thursday at Noon. NO SIGN IN YARD. Great opportunity to build equity and make this classic Cape Cod your own. This home features 4 bedrooms, with 2 bedrooms and a half bath upstairs and 2 bedrooms with a full bath on the main floor. Hardwood floors run through the living room and two main-floor bedrooms. The cozy living room includes a fireplace, adding warmth and character. A breezeway connects the home to the attached one-stall garage. Enjoy a fenced backyard, brick and vinyl exterior, and vinyl windows. Water heater replaced in 2024; furnace and A/C are approximately 18 years old. Copper plumbing throughout. Roof age is unknown but appears in good condition. Located in a quiet neighborhood within close distance to Ken-O-Sha Park.

4. 2026-05-01
   listed $259,900 Active 815-char remark

   Show marketing remark (815 chars)

   Due to showing activity, we are setting an offer review deadline of this Thursday at Noon. NO SIGN IN YARD. Great opportunity to build equity and make this classic Cape Cod your own. This home features 4 bedrooms, with 2 bedrooms and a half bath upstairs and 2 bedrooms with a full bath on the main floor. Hardwood floors run through the living room and two main-floor bedrooms. The cozy living room includes a fireplace, adding warmth and character. A breezeway connects the home to the attached one-stall garage. Enjoy a fenced backyard, brick and vinyl exterior, and vinyl windows. Water heater replaced in 2024; furnace and A/C are approximately 18 years old. Copper plumbing throughout. Roof age is unknown but appears in good condition. Located in a quiet neighborhood within close distance to Ken-O-Sha Park.

5. 2026-05-01
   listed $259,900 Active 815-char remark

   Show marketing remark (815 chars)

   Due to showing activity, we are setting an offer review deadline of this Thursday at Noon. NO SIGN IN YARD. Great opportunity to build equity and make this classic Cape Cod your own. This home features 4 bedrooms, with 2 bedrooms and a half bath upstairs and 2 bedrooms with a full bath on the main floor. Hardwood floors run through the living room and two main-floor bedrooms. The cozy living room includes a fireplace, adding warmth and character. A breezeway connects the home to the attached one-stall garage. Enjoy a fenced backyard, brick and vinyl exterior, and vinyl windows. Water heater replaced in 2024; furnace and A/C are approximately 18 years old. Copper plumbing throughout. Roof age is unknown but appears in good condition. Located in a quiet neighborhood within close distance to Ken-O-Sha Park.

6. 2026-05-01
   listed $259,900 Active

   Show marketing remark (815 chars)

   Due to showing activity, we are setting an offer review deadline of this Thursday at Noon. NO SIGN IN YARD. Great opportunity to build equity and make this classic Cape Cod your own. This home features 4 bedrooms, with 2 bedrooms and a half bath upstairs and 2 bedrooms with a full bath on the main floor. Hardwood floors run through the living room and two main-floor bedrooms. The cozy living room includes a fireplace, adding warmth and character. A breezeway connects the home to the attached one-stall garage. Enjoy a fenced backyard, brick and vinyl exterior, and vinyl windows. Water heater replaced in 2024; furnace and A/C are approximately 18 years old. Copper plumbing throughout. Roof age is unknown but appears in good condition. Located in a quiet neighborhood within close distance to Ken-O-Sha Park.

ⓘ 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: $2,074 · $173/mo
• Projected year-2 tax: $3,038 · $253/mo
• Expected delta: +$964/yr (+$80/mo · 46.5%)

ⓘ 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: $29,567
• − Mortgage interest: −$14,558
• − Property taxes: −$2,074
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,365
• − Management: −$2,365
• − Depreciation: −$7,561
• Taxable loss: −$656
• Est. tax savings @ 24.0%: +$158
• After-tax cash flow: $3,787/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): 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

+0.0% since first listed

6 events — show timeline

• 2026-05-07 Pending — REALCOMP
• 2026-05-07 Pending — MiRealSource-MiMLS
• 2026-05-07 Pending — SW Michigan MLS
• 2026-05-01 Listed $259,900 SW Michigan MLS
• 2026-05-01 Listed $259,900 MiRealSource-MiMLS
• 2026-05-01 Listed $259,900 REALCOMP

Property tax history

+2.4%/yr

Latest (2025): $2,074 · -3.6% YoY. Source: county tax records.