4483 Ilium Ln · Walker, MI 49534

$76,500

3 bd · 2.0 ba · 1,280 sqft · Manufactured · 69 Days on market

Built 2000 Fair condition $60/sqft · at area comps Est $78k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.3/15.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking to move to Leanord Gardens? A highly desirable community offering comfort and peaceful surroundings. This 3 bedroom, 2 full bath home features a bright open concept layout that's perfect for both everyday living and entertaining. Inside, you'll find a functional design with a convenient laundry room and a spacious primary bedroom complete with a walk-in closet. The additional bedrooms offer flexibility for family, guests, or a home office. Step outside to enjoy a beautifully open backyard that backs onto nature, providing a private and serene setting where wildlife is often seen. It's the perfect place to relax, unwind, or enjoy quiet outdoor living. The property also includes a large storage shed equipped with its own cooling unit, offering excellent space for storage, hobbies, or a workshop. Located in a welcoming neighborhood with great amenities including a community clubhouse, basketball courts, and community parks. Don't miss your opportunity to call this home!

Key facts

• Walk-in closet
• Community clubhouse
• Open concept layout

Tags

• OPEN CONCEPT LAYOUT
• CONVENIENT LAUNDRY ROOM
• WALK-IN CLOSET
• BEAUTIFULLY OPEN BACKYARD
• LARGE STORAGE SHED
• COMMUNITY CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $76k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $76k).
• Recommended offer: $72k (6.0% below list) — sets the bar for market timing.
• Cap rate 23.9% vs local median 3.8% in Walker — 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 (#188 in MI, #4,765 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, health & safety F.
• Kenowa Hills Public Schools (suburban): math 33% / reading 46% proficiency, ranked #205 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 (+7.9%/yr); 111 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 31% of the median local income ($82k/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 $529 of loan paydown is wiped out by about $2k 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 + 7.9% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $71,910 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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: 2.73% ✓
• Cap rate: 23.87%
• Cash-on-cash: 62.78%
• DSCR: 3.79
• GRM: 3.1

CMA / ARV

• ARV (median comp): $77,884
• List price: $76,500
• Delta: -1.78%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1123 Marvin Ct NW Lot 46	0.08mi	3/2.0	1,216 (-5%)	2mo	$75,000	$62	86
4598 Gardens Blvd NW	0.16mi	3/2.0	1,293 (+1%)	7mo	$94,900	$73	86
4676 Gardens Blvd NW	0.27mi	3/2.0	1,210 (-6%)	8mo	$58,000	$48	72
135 Shapell Ln NW	0.42mi	3/2.0	1,371 (+7%)	9mo	$90,000	$66	61
79 Shapell Ln NW	0.32mi	3/2.0	1,456 (+14%)	9mo	$115,000	$79	55

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 · 7.87% rent growth · sell at horizon

5-year hold

• IRR: 67.2%
• Equity multiple: 4.26×
• Total profit: $69,735
• Equity at exit: $11,406

10-year hold

• IRR: 73.0%
• Equity multiple: 10.41×
• Total profit: $201,461
• Equity at exit: $6,614

Cash invested: $21,420 (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 49534

• Home prices YoY: -28.4%
• Rents YoY: 7.9%
• Active inventory: 111
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,088 high
• Mortgage (P&I): −$401
• Tax est. 1.5%: −$96 /mo · $1,148/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $1,121

Break-even live

Break-even rent $669

Max offer price $76,500

Occupancy floor 41%

Sensitivity live

Price	-10% $1,173	-5% $1,147	+0% $1,121	+5% $1,094	+10% $1,068
Rent	-10% $956	-5% $1,038	+0% $1,121	+5% $1,203	+10% $1,285
Rate	-1.0pp $1,159	-0.5pp $1,140	base $1,121	+0.5pp $1,101	+1.0pp $1,081

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: $19,125
• Closing costs: $2,295
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3822 Richmond St NW Walker, MI	3.0	2.0	1450	$2,645	$1.82	3d	1	1.38mi
1001 Kusterer Dr NW Grand Rapids, MI	4.0	1.5	1788	$2,600	$1.45	44d	1	1.39mi
680 Lake Michigan Dr NW Unit O-686 Grand Rapids, MI	2.0	1.0	900	$1,375	$1.53	3d	1	1.43mi
680 Lake Michigan Dr NW Unit O-682 Grand Rapids, MI	2.0	1.0	900	$1,275	$1.42	44d	1	1.43mi
680 Lake Michigan Dr NW Unit O-680 Grand Rapids, MI	2.0	1.0	900	$1,399	$1.55	12d	1	1.43mi

Listing history 17 events

1. 2026-06-21
   days on market $76,500 Active 69 DOM
2. 2026-06-18
   days on market $76,500 Active 66 DOM
3. 2026-06-17
   days on market $76,500 Active 65 DOM
4. 2026-06-16
   days on market $76,500 Active 64 DOM
5. 2026-06-15
   days on market $76,500 Active 63 DOM
6. 2026-06-14
   days on market $76,500 Active 61 DOM
7. 2026-06-10
   days on market $76,500 Active 58 DOM
8. 2026-06-09
   days on market $76,500 Active 57 DOM
9. 2026-06-08
   days on market $76,500 Active 56 DOM
10. 2026-06-07
    days on market $76,500 Active 55 DOM
11. 2026-06-03
    days on market $76,500 Active 51 DOM
12. 2026-06-03
    days on market $76,500 Active 50 DOM
13. 2026-06-01
    days on market $76,500 Active 49 DOM
14. 2026-05-31
    days on market $76,500 Active 48 DOM
15. 2026-04-13
    listed $76,500 Active 989-char remark

    Show marketing remark (1002 chars)

    Looking to move to Leanord Gardens? A highly desirable community offering comfort and peaceful surroundings. This 3 bedroom, 2 full bath home features a bright open concept layout that's perfect for both everyday living and entertaining. Inside, you'll find a functional design with a convenient laundry room and a spacious primary bedroom complete with a walk-in closet. The additional bedrooms offer flexibility for family, guests, or a home office. Step outside to enjoy a beautifully open backyard that backs onto nature, providing a private and serene setting where wildlife is often seen. It's the perfect place to relax, unwind, or enjoy quiet outdoor living. The property also includes a large storage shed equipped with its own cooling unit, offering excellent space for storage, hobbies, or a workshop. Located in a welcoming neighborhood with great amenities including a community clubhouse, basketball courts, and community parks. Don't miss your opportunity to call this home!

16. 2026-04-13
    listed $76,500 Active 1002-char remark

    Show marketing remark (1002 chars)

    Looking to move to Leanord Gardens? A highly desirable community offering comfort and peaceful surroundings. This 3 bedroom, 2 full bath home features a bright open concept layout that's perfect for both everyday living and entertaining. Inside, you'll find a functional design with a convenient laundry room and a spacious primary bedroom complete with a walk-in closet. The additional bedrooms offer flexibility for family, guests, or a home office. Step outside to enjoy a beautifully open backyard that backs onto nature, providing a private and serene setting where wildlife is often seen. It's the perfect place to relax, unwind, or enjoy quiet outdoor living. The property also includes a large storage shed equipped with its own cooling unit, offering excellent space for storage, hobbies, or a workshop. Located in a welcoming neighborhood with great amenities including a community clubhouse, basketball courts, and community parks. Don't miss your opportunity to call this home!

17. 2026-04-13
    listed $76,500 Active

    Show marketing remark (1002 chars)

    Looking to move to Leanord Gardens? A highly desirable community offering comfort and peaceful surroundings. This 3 bedroom, 2 full bath home features a bright open concept layout that's perfect for both everyday living and entertaining. Inside, you'll find a functional design with a convenient laundry room and a spacious primary bedroom complete with a walk-in closet. The additional bedrooms offer flexibility for family, guests, or a home office. Step outside to enjoy a beautifully open backyard that backs onto nature, providing a private and serene setting where wildlife is often seen. It's the perfect place to relax, unwind, or enjoy quiet outdoor living. The property also includes a large storage shed equipped with its own cooling unit, offering excellent space for storage, hobbies, or a workshop. Located in a welcoming neighborhood with great amenities including a community clubhouse, basketball courts, and community parks. Don't miss your opportunity to call this home!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $25,051
• − Mortgage interest: −$4,285
• − Property taxes: −$1,148
• − Insurance: −$382
• − Repairs & maintenance: −$2,004
• − Management: −$2,004
• − Depreciation: −$2,225
• Taxable income: $13,002
• Est. tax owed @ 24.0%: −$3,121
• After-tax cash flow: $10,326/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance to improve its condition and resale value.

Repairs flagged

• Moderate exterior siding — Weathered and discolored
• Moderate interior paint — Some discoloration
• Minor kitchen cabinets — Some wear

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal
• Resale Replace carpeted flooring — Improves living space
• Resale Paint interior walls — Enhances interior appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered and discolored	Moderate	$3,000–15,000
interior paint · Some discoloration	Moderate	$3,000–15,000
kitchen cabinets · Some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal ↑
• Resale Replace carpeted flooring — Improves living space ↑
• Resale Paint interior walls — Enhances interior appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Kenowa Hills Public Schools
• NCES district ID: 2620280
• Math proficiency: 33% ▬ 0.00%
• Reading proficiency: 46% ▼ -6.00%
• Median HH income: $53,387
• Composite: 34.36/100
• National rank: #5221
• State rank: #205 of 540 in MI

Livability — Walker

• Score: 74/100
• State rank: #188
• US rank: #4765

Category grades

Amenities F Commute C Cost of living A+ Crime C+ Employment B+ Housing A+ Health & safety F User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walker, MI
• County: Kent County · 533,805 people
• City population: 33,350
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 23,719
• Household income: $81,657
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 415.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Iranian 20% Romanian 12% Lithuanian 2%
• Foreign-born: 4% · Canada, China
• Languages at home: 95% English-only · Spanish 1% Other Indo-European 1% Tagalog/Filipino 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: ▼ -107.59%
• Current HPI: 270.866
• Rent YoY: ▲ 7.87%
• 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

3 events — show timeline

• 2026-04-13 Listed $76,500 REALCOMP
• 2026-04-13 Listed $76,500 MiRealSource-MiMLS
• 2026-04-13 Listed $76,500 SW Michigan MLS