900 Dallas Ave SE · Grand Rapids, MI 49507

$240,000

3 bd · 1.5 ba · 1,428 sqft · SingleFamily public records · 3 Days on market

Built 1922 3,920 sqft lot $168/sqft · 49% below area Est $472k · 49% under

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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).

• ARV discount +15.0/15.0
• Cash flow +8.2/30.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2-story home offers a blend of classic character and modern updates in a convenient location close to downtown, parks, shopping, and restaurants. Featuring approximately 1,428 square feet of living space, this home includes 4 bedrooms and 1.5 bathrooms. Inside, you'll find a bright and inviting layout with updated finishes, spacious living areas, and a functional kitchen complete with newer appliances. The home has been thoughtfully refreshed, creating a move-in ready opportunity for homeowners or investors alike. Whether you're looking for your first home or a rental investment, this property offers comfort, convenience, and value all in one package. Don't miss your chance to make this Grand Rapids gem your own!

Key facts

• 3,920 sq ft lot
• Garage
• Built 1922

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Natural gas connected
• Home design: Traditional single-family residence; Built in 1922
• Construction: Vinyl siding; Composition roof; Residential property
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Replacement windows; 8 total rooms; Full basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-225 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (16.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (14.1% below list).
• Recommended offer: $200k (16.5% below list) — sets the bar for cash-flow.

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.
• Zoned schools: Campus Elementary (math 2% / reading 2%, grade F, #1,384 of 1,397 statewide, top 100%, 266 students, 97% FRL); Alger Middle School (math 2% / reading 12%, grade F, #481 of 493 statewide, top 98%, 342 students, 95% FRL); City Middlehigh (math 65% / reading 88%, grade A-, #16 of 713 statewide, top 2%, 908 students, 40% FRL) — zoned schools at 77% FRL track the district average.
• Market conditions: Rents rising fast (+4.7%/yr); 178 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 76% 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 40% 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 $2k of loan paydown is wiped out by about $7k 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.
• 6 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $200,324 (16.5% 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 1922 — 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: 0.86% ✗
• Cap rate: 5.17%
• Cash-on-cash: -4.01%
• DSCR: 0.82
• GRM: 9.7

CMA / ARV

• ARV (median comp): $472,279
• List price: $240,000
• Delta: -49.18%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.74% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.27×
• Total profit: $-49,372
• Equity at exit: $35,785

10-year hold

• IRR: -10.1%
• Equity multiple: 0.33×
• Total profit: $-45,184
• Equity at exit: $20,751

Cash invested: $67,200 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,062 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$495 /mo · $5,939/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-225

Break-even live

Break-even rent $2,346

Max offer price $200,324

Occupancy floor —

Sensitivity live

Price	-10% $-89	-5% $-157	+0% $-225	+5% $-293	+10% $-360
Rent	-10% $-387	-5% $-306	+0% $-225	+5% $-143	+10% $-62
Rate	-1.0pp $-104	-0.5pp $-164	base $-225	+0.5pp $-287	+1.0pp $-350

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1027 Underwood Ave SE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	16d	1	0.32mi
1114 Dunham St SE Unit 1 Grand Rapids, MI	2.0	1.0	894	$1,300	$1.45	46d	1	0.36mi
729 Bates St SE Unit 1 Grand Rapids, MI	4.0	3.5	1576	$2,395	$1.52	46d	1	0.41mi
550 Union Ave SE Grand Rapids, MI	3.0	1.5	1743	$2,800	$1.61	46d	1	0.67mi
434 Worden St SE Unit 2 Grand Rapids, MI	2.0	1.0	900	$1,495	$1.66	46d	1	0.70mi
638 Wealthy St SE Unit A Grand Rapids, MI	2.0	2.0	1000	$2,100	$2.10	46d	1	0.79mi
1333 Wealthy St SE Unit 2 Grand Rapids, MI	2.0	1.0	1113	$1,900	$1.71	46d	1	0.79mi
1400 Wealthy St SE Grand Rapids, MI	2.0	1.0	907	$1,925	$2.12	5d	1	0.81mi
258 Orchard Hill St SE Grand Rapids, MI	3.0	1.0	1300	$1,900	$1.46	46d	1	0.82mi
414 Paris Ave SE Grand Rapids, MI	3.0	1.5	1700	$2,850	$1.68	46d	1	0.85mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	46d	1	0.86mi
840 Lafayette Ave SE Unit 2 Grand Rapids, MI	3.0	1.0	950	$1,600	$1.68	46d	1	0.88mi
1555 Margaret Ave SE Grand Rapids, MI	2.0	1.0	900	$1,500	$1.67	16d	1	0.96mi
325 Norwood Ave SE Grand Rapids, MI	3.0	1.5	1398	$2,700	$1.93	25d	1	0.99mi
1057 Griggs St SE Grand Rapids, MI	2.0	1.0	1100	$1,550	$1.41	46d	1	1.04mi
11 Fuller Ave SE Apt 204 Grand Rapids, MI	2.0	1.5	880	$1,850	$2.10	46d	1	1.13mi
216 Lafayette Ave SE Grand Rapids, MI	2.0	1.5	1000	$1,395	$1.40	46d	1	1.22mi
345 State St SE Grand Rapids, MI	2.0	2.0	1107	$1,280	$1.16	46d	2	1.26mi
950 Merritt St SE Grand Rapids, MI	3.0	1.0	1000	$2,100	$2.10	46d	1	1.37mi
17 Lafayette Ave SE Grand Rapids, MI	2.0	1.0–2.0	720	$2,125	$2.95	46d	7	1.46mi
1031 Merrifield St SE Grand Rapids, MI	3.0	2.0	1238	$2,300	$1.86	16d	1	1.47mi

Listing history 18 events

1. 2026-05-10
   status Pending 736-char remark

   Show marketing remark (736 chars)

   This charming 2-story home offers a blend of classic character and modern updates in a convenient location close to downtown, parks, shopping, and restaurants. Featuring approximately 1,428 square feet of living space, this home includes 4 bedrooms and 1.5 bathrooms. Inside, you'll find a bright and inviting layout with updated finishes, spacious living areas, and a functional kitchen complete with newer appliances. The home has been thoughtfully refreshed, creating a move-in ready opportunity for homeowners or investors alike. Whether you're looking for your first home or a rental investment, this property offers comfort, convenience, and value all in one package. Don't miss your chance to make this Grand Rapids gem your own!

2. 2026-05-10
   status Pending 736-char remark

   Show marketing remark (736 chars)

   This charming 2-story home offers a blend of classic character and modern updates in a convenient location close to downtown, parks, shopping, and restaurants. Featuring approximately 1,428 square feet of living space, this home includes 4 bedrooms and 1.5 bathrooms. Inside, you'll find a bright and inviting layout with updated finishes, spacious living areas, and a functional kitchen complete with newer appliances. The home has been thoughtfully refreshed, creating a move-in ready opportunity for homeowners or investors alike. Whether you're looking for your first home or a rental investment, this property offers comfort, convenience, and value all in one package. Don't miss your chance to make this Grand Rapids gem your own!

3. 2026-05-10
   status Pending

   Show marketing remark (736 chars)

   This charming 2-story home offers a blend of classic character and modern updates in a convenient location close to downtown, parks, shopping, and restaurants. Featuring approximately 1,428 square feet of living space, this home includes 4 bedrooms and 1.5 bathrooms. Inside, you'll find a bright and inviting layout with updated finishes, spacious living areas, and a functional kitchen complete with newer appliances. The home has been thoughtfully refreshed, creating a move-in ready opportunity for homeowners or investors alike. Whether you're looking for your first home or a rental investment, this property offers comfort, convenience, and value all in one package. Don't miss your chance to make this Grand Rapids gem your own!

4. 2026-05-07
   listed $240,000 Active 736-char remark

   Show marketing remark (736 chars)

   This charming 2-story home offers a blend of classic character and modern updates in a convenient location close to downtown, parks, shopping, and restaurants. Featuring approximately 1,428 square feet of living space, this home includes 4 bedrooms and 1.5 bathrooms. Inside, you'll find a bright and inviting layout with updated finishes, spacious living areas, and a functional kitchen complete with newer appliances. The home has been thoughtfully refreshed, creating a move-in ready opportunity for homeowners or investors alike. Whether you're looking for your first home or a rental investment, this property offers comfort, convenience, and value all in one package. Don't miss your chance to make this Grand Rapids gem your own!

5. 2026-05-07
   listed $240,000 Active 736-char remark

   Show marketing remark (736 chars)

   This charming 2-story home offers a blend of classic character and modern updates in a convenient location close to downtown, parks, shopping, and restaurants. Featuring approximately 1,428 square feet of living space, this home includes 4 bedrooms and 1.5 bathrooms. Inside, you'll find a bright and inviting layout with updated finishes, spacious living areas, and a functional kitchen complete with newer appliances. The home has been thoughtfully refreshed, creating a move-in ready opportunity for homeowners or investors alike. Whether you're looking for your first home or a rental investment, this property offers comfort, convenience, and value all in one package. Don't miss your chance to make this Grand Rapids gem your own!

6. 2026-05-07
   listed $240,000 Active

   Show marketing remark (736 chars)

   This charming 2-story home offers a blend of classic character and modern updates in a convenient location close to downtown, parks, shopping, and restaurants. Featuring approximately 1,428 square feet of living space, this home includes 4 bedrooms and 1.5 bathrooms. Inside, you'll find a bright and inviting layout with updated finishes, spacious living areas, and a functional kitchen complete with newer appliances. The home has been thoughtfully refreshed, creating a move-in ready opportunity for homeowners or investors alike. Whether you're looking for your first home or a rental investment, this property offers comfort, convenience, and value all in one package. Don't miss your chance to make this Grand Rapids gem your own!

7. 2024-10-31
   historical $1,950
8. 2024-10-23
   historical
9. 2024-10-23
   historical
10. 2024-10-09
    listed $1,950
11. 2024-09-17
    price $229,000
12. 2024-09-16
    price $229,000
13. 2024-09-16
    price $229,000
14. 2024-09-10
    price $235,000
15. 2024-09-09
    price $235,000
16. 2024-09-09
    price $235,000
17. 2024-09-03
    listed $240,000 Active
18. 2024-09-03
    listed $240,000 Active

ⓘ 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: $5,939 · $495/mo
• Projected year-2 tax: $5,939 · $495/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: $24,743
• − Mortgage interest: −$13,444
• − Property taxes: −$5,939
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − Depreciation: −$6,982
• Taxable loss: −$6,781
• Est. tax savings @ 24.0%: +$1,627
• After-tax cash flow: $-1,068/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

+0.0% since first listed

21 events — show timeline

• 2026-06-03 Sold (MLS) $240,000 MiRealSource-MiMLS
• 2026-06-03 Sold (MLS) $240,000 SW Michigan MLS
• 2026-06-03 Sold (MLS) $240,000 REALCOMP
• 2026-05-10 Pending — REALCOMP
• 2026-05-10 Pending — MiRealSource-MiMLS
• 2026-05-10 Pending — SW Michigan MLS
• 2026-05-07 Listed $240,000 MiRealSource-MiMLS
• 2026-05-07 Listed $240,000 SW Michigan MLS
• 2026-05-07 Listed $240,000 REALCOMP
• 2024-10-31 Rental Removed $1,950 APPFOLIO
• 2024-10-23 Listing Removed — MiRealSource-MiMLS
• 2024-10-23 Listing Removed — REALCOMP
• 2024-10-09 Listed for Rent $1,950 APPFOLIO
• 2024-09-17 Price Changed $229,000 MiRealSource-MiMLS
• 2024-09-16 Price Changed $229,000 REALCOMP
• 2024-09-16 Price Changed $229,000 SW Michigan MLS
• 2024-09-10 Price Changed $235,000 MiRealSource-MiMLS
• 2024-09-09 Price Changed $235,000 REALCOMP
• 2024-09-09 Price Changed $235,000 SW Michigan MLS
• 2024-09-03 Listed $240,000 MiRealSource-MiMLS
• 2024-09-03 Listed $240,000 REALCOMP

Property tax history

+17.0%/yr

Latest (2025): $5,939 · +10.7% YoY. Source: county tax records.