1709 Waldorn Ave NE · Grand Rapids, MI 49505

$200,000

2 bd · 1.0 ba · 1,452 sqft · SingleFamily public records · 1 Days on market

Built 1996 7,667 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 +13.8/30.0
• ARV discount +7.5/15.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property sold off market. Uploaded for comps only.

Key facts

• 7,667 sq ft lot
• 2 garage spots
• Built 1996

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Ranch-style single-family residence; Built in 1996; Living area about 1,452
• Construction: Vinyl siding; Shingle roof; Full foundation
• Exterior features: Paved road access; Lot is approximately 0.18 acres

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Five total rooms; Full basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $18 ($210/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 $171k (14.5% below list).
• Recommended offer: $171k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Zoned schools: Aberdeen Academy (math 12% / reading 22%, grade F, #1,149 of 1,397 statewide, top 84%, 234 students, 77% FRL); Riverside Middle School (math 8% / reading 17%, grade F, #466 of 493 statewide, top 95%, 248 students, 89% FRL); Union High School (math 2% / reading 12%, grade F, #699 of 713 statewide, top 99%, 922 students, 88% FRL).
• Market conditions: Rents rising fast (+4.5%/yr); 149 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).

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 1 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.

Recommended offer $171,085 (14.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.86% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 9.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.55% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.49×
• Total profit: $-28,587
• Equity at exit: $29,821

10-year hold

• IRR: -3.0%
• Equity multiple: 0.79×
• Total profit: $-11,996
• Equity at exit: $17,292

Cash invested: $56,000 (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 49505

• Rents YoY: 4.5%
• Active inventory: 149
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,711 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$202 /mo · $2,423/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $18

Break-even live

Break-even rent $1,689

Max offer price $200,000

Occupancy floor 94%

Sensitivity live

Price	-10% $131	-5% $74	+0% $18	+5% $-39	+10% $-96
Rent	-10% $-118	-5% $-50	+0% $18	+5% $85	+10% $153
Rate	-1.0pp $118	-0.5pp $68	base $18	+0.5pp $-34	+1.0pp $-87

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1314 Portland Ave NE Grand Rapids, MI	2.0	1.0	908	$1,425	$1.57	45d	1	0.97mi
1880 Stonebrook Dr NE Grand Rapids, MI	2.0	1.5	1075	$1,700	$1.58	13d	1	1.00mi
1300 3 Mile Rd NE Grand Rapids, MI	1.0–3.0	1.5–2.5	1270	$2,368	$1.86	4d	1	1.30mi
841 Houseman Ave NE Grand Rapids, MI	2.0	1.5	1128	$1,700	$1.51	45d	1	1.30mi
1370 Beckwith View Ave NE Unit 1406 Grand Rapids, MI	2.0	1.0	900	$1,450	$1.61	25d	1	1.43mi
1359 Dewberry Pl NE Grand Rapids, MI	2.0	1.5–2.5	1050	$1,813	$1.73	4d	9	1.44mi
239 Ann St NE Unit 1 Grand Rapids, MI	2.0	1.0	928	$1,300	$1.40	45d	1	1.48mi

Listing history 6 events

1. 2026-05-19
   status Pending
2. 2026-05-18
   historical 50-char remark

   Show marketing remark (50 chars)

   Property sold off market. Uploaded for comps only.

3. 2026-05-18
   historical 50-char remark

   Show marketing remark (50 chars)

   Property sold off market. Uploaded for comps only.

4. 2026-05-13
   listed $200,000 Active

   Show marketing remark (50 chars)

   Property sold off market. Uploaded for comps only.

5. 2026-05-13
   listed $200,000 50-char remark

   Show marketing remark (50 chars)

   Property sold off market. Uploaded for comps only.

6. 2026-05-13
   listed $200,000 50-char remark

   Show marketing remark (50 chars)

   Property sold off market. Uploaded for comps only.

ⓘ 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: $2,423 · $202/mo
• Projected year-2 tax: $2,751 · $229/mo
• Expected delta: +$329/yr (+$27/mo · 13.6%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,530
• − Mortgage interest: −$11,203
• − Property taxes: −$2,423
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,642
• − Management: −$1,642
• − Depreciation: −$5,818
• Taxable loss: −$3,199
• Est. tax savings @ 24.0%: +$768
• After-tax cash flow: $978/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): 32,426
• Household income: $74,906
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1330.0

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 (68%)
• Race & ethnicity: White 68% Black 14% Two or more races 11% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Iranian 12% Romanian 8% Italian 3%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 92% English-only · Spanish 3% Chinese 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: ▼ -324.57%
• Current HPI: 306.797
• Rent YoY: ▲ 4.55%
• 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

• 2026-05-19 Pending — SW Michigan MLS
• 2026-05-18 Listing Removed — MiRealSource-MiMLS
• 2026-05-18 Listing Removed — REALCOMP
• 2026-05-13 Listed $200,000 MiRealSource-MiMLS
• 2026-05-13 Listed $200,000 REALCOMP
• 2026-05-13 Listed $200,000 SW Michigan MLS

Property tax history

+2.4%/yr

Latest (2025): $2,423 · -3.6% YoY. Source: county tax records.