207 N Osmun St · Greenville, MI 48838

$159,900

2 bd · 1.0 ba · 1,113 sqft · SingleFamily · 47 Days on market

Built 1940 6,844 sqft lot $144/sqft · 18% below area Est $195k · 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 +16.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 1% rule +4.4/10.0
• Schools +3.7/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a Fannie Mae HomePath property. This well-maintained home offers comfortable single-level living with two bedrooms and one bathroom. The property provides a practical floor plan that maximizes the available space efficiently. With its functional design and strategic positioning, this property offers the fundamentals needed for comfortable living while maintaining proximity to important local institutions. All information represented herein is approximated, and independent verification by buyer is required - information is not guaranteed. Potential buyers should independently verify all information on listing card for accuracy. Some images in this listing have been virtually staged.

Key facts

• 6,844 sq ft lot
• Built 1940
• Listed 47 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/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 $151k (5.6% below list).
• Recommended offer: $151k (5.6% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.2% in Greenville — 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 66/100 on livability (#426 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D, crime F, amenities F.
• Greenville Public Schools (town): math 35% / reading 52% proficiency, ranked #167 of 540 in MI (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 192 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 273 units permitted in Montcalm County in 2024 (5 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 $5k of value loss. Plan a longer hold.
• Montcalm County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 7y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $67k; list at $160k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,966 (5.6% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 0.94% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.35%
• DSCR: 1.10
• GRM: 8.8

CMA / ARV

• ARV (median comp): $195,379
• List price: $159,900
• Delta: -18.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
726 N Lafayette St	0.51mi	2/1.0	1,084 (-3%)	4mo	$159,950	$148	68
515 W Montcalm St	0.08mi	1/1.0 (-1)	1,008 (-9%)	11mo	$190,000	$188	66
516 W Montcalm St	0.08mi	1/1.0 (-1)	956 (-14%)	2mo	$203,000	$212	66
803 W Cass St	0.41mi	2/1.5	1,178 (+6%)	11mo	$215,000	$183	60
202 E Summit St	0.67mi	2/1.0	1,094 (-2%)	8mo	$190,000	$174	59
310 S Bower St	0.59mi	2/1.0	1,201 (+8%)	10mo	$185,000	$154	51
315 E Coffren Ave	0.62mi	3/1.0 (+1)	1,220 (+10%)	1mo	$260,000	$213	49
503 E Water St	0.68mi	3/1.0 (+1)	1,030 (-8%)	3mo	$45,000	$44	48
301 E North St	0.74mi	2/1.0	1,200 (+8%)	6mo	$80,000	$67	48
927 W Grove St	0.45mi	2/1.0	1,252 (+12%)	13mo	$185,000	$148	48
516 E Market St	0.71mi	2/1.0	1,200 (+8%)	11mo	$200,000	$167	44
815 W Judd St	0.72mi	3/2.0 (+1)	1,260 (+13%)	12mo	$290,000	$230	25

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -12.6%
• Equity multiple: 0.55×
• Total profit: $-20,309
• Equity at exit: $23,842

10-year hold

• IRR: -3.5%
• Equity multiple: 0.77×
• Total profit: $-10,408
• Equity at exit: $13,825

Cash invested: $44,772 (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 48838

• Home prices YoY: -30.2%
• Active inventory: 192
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,510 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $88

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 89%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 1/2 S Lafayette St Unit 4 Greenville, MI	1.0	1.0	700	$975	$1.39	2d	1	0.36mi
720 N Lafayette St Unit 2 Greenville, MI	2.0	1.0	900	$1,400	$1.56	2d	1	0.47mi
305 E Grove St Unit 1 Greenville, MI	2.0	1.0	800	$1,095	$1.37	10d	1	0.50mi
305 E Grove St Unit 1 Greenville, MI	2.0	1.0	800	$1,095	$1.37	2d	1	0.50mi
212 E Grant St Unit 2 Greenville, MI	1.0	1.0	750	$925	$1.23	2d	1	0.75mi
212 E Grant St Unit 2 Greenville, MI	1.0	1.0	750	$925	$1.23	10d	1	0.75mi
804 S Clay St Greenville, MI	2.0	1.0	900	$1,300	$1.44	10d	1	0.80mi
632 E Washington St Unit 1 Greenville, MI	2.0	2.0	1024	$1,425	$1.39	2d	1	0.89mi
1305 Trail View Dr Greenville, MI	3.0	2.5	1450	$2,295	$1.58	2d	1	0.98mi
1301 Timber Hollow Ct Greenville, MI	3.0	2.5	1450	$2,295	$1.58	43d	1	1.02mi
1301 Timber Hollow Ct Greenville, MI	3.0	2.5	1450	$1,895	$1.31	2d	1	1.02mi
1310 Timber Hollow Ct Greenville, MI	3.0	2.5	1450	$1,895	$1.31	14d	1	1.03mi
1310 Timber Hollow Ct Greenville, MI	3.0	2.5	1450	$2,295	$1.58	43d	1	1.03mi
1310 Trail View Dr Greenville, MI	3.0	2.5	1450	$2,195	$1.51	10d	1	1.04mi
914 E Oak St Apt 7 Greenville, MI	2.0	1.0	797	$1,000	$1.25	43d	1	1.11mi

Listing history 36 events

1. 2026-06-03
   statusdays on market $159,900 Pending 47 DOM
2. 2026-06-03
   days on market $159,900 Active 46 DOM
3. 2026-06-01
   days on market $159,900 Active 45 DOM
4. 2026-05-31
   days on market $159,900 Active 44 DOM
5. 2026-05-12
   price $159,900 698-char remark

   Show marketing remark (698 chars)

   This is a Fannie Mae HomePath property. This well-maintained home offers comfortable single-level living with two bedrooms and one bathroom. The property provides a practical floor plan that maximizes the available space efficiently. With its functional design and strategic positioning, this property offers the fundamentals needed for comfortable living while maintaining proximity to important local institutions. All information represented herein is approximated, and independent verification by buyer is required - information is not guaranteed. Potential buyers should independently verify all information on listing card for accuracy. Some images in this listing have been virtually staged.

6. 2026-05-12
   price $159,900 698-char remark

   Show marketing remark (698 chars)

   This is a Fannie Mae HomePath property. This well-maintained home offers comfortable single-level living with two bedrooms and one bathroom. The property provides a practical floor plan that maximizes the available space efficiently. With its functional design and strategic positioning, this property offers the fundamentals needed for comfortable living while maintaining proximity to important local institutions. All information represented herein is approximated, and independent verification by buyer is required - information is not guaranteed. Potential buyers should independently verify all information on listing card for accuracy. Some images in this listing have been virtually staged.

7. 2026-05-12
   price $159,900

   Show marketing remark (698 chars)

   This is a Fannie Mae HomePath property. This well-maintained home offers comfortable single-level living with two bedrooms and one bathroom. The property provides a practical floor plan that maximizes the available space efficiently. With its functional design and strategic positioning, this property offers the fundamentals needed for comfortable living while maintaining proximity to important local institutions. All information represented herein is approximated, and independent verification by buyer is required - information is not guaranteed. Potential buyers should independently verify all information on listing card for accuracy. Some images in this listing have been virtually staged.

8. 2026-04-16
   listed $169,900 Active 698-char remark

   Show marketing remark (698 chars)

   This is a Fannie Mae HomePath property. This well-maintained home offers comfortable single-level living with two bedrooms and one bathroom. The property provides a practical floor plan that maximizes the available space efficiently. With its functional design and strategic positioning, this property offers the fundamentals needed for comfortable living while maintaining proximity to important local institutions. All information represented herein is approximated, and independent verification by buyer is required - information is not guaranteed. Potential buyers should independently verify all information on listing card for accuracy. Some images in this listing have been virtually staged.

9. 2026-04-16
   listed $169,900 Active 698-char remark

   Show marketing remark (698 chars)

   This is a Fannie Mae HomePath property. This well-maintained home offers comfortable single-level living with two bedrooms and one bathroom. The property provides a practical floor plan that maximizes the available space efficiently. With its functional design and strategic positioning, this property offers the fundamentals needed for comfortable living while maintaining proximity to important local institutions. All information represented herein is approximated, and independent verification by buyer is required - information is not guaranteed. Potential buyers should independently verify all information on listing card for accuracy. Some images in this listing have been virtually staged.

10. 2026-04-16
    listed $169,900 Active

    Show marketing remark (698 chars)

    This is a Fannie Mae HomePath property. This well-maintained home offers comfortable single-level living with two bedrooms and one bathroom. The property provides a practical floor plan that maximizes the available space efficiently. With its functional design and strategic positioning, this property offers the fundamentals needed for comfortable living while maintaining proximity to important local institutions. All information represented herein is approximated, and independent verification by buyer is required - information is not guaranteed. Potential buyers should independently verify all information on listing card for accuracy. Some images in this listing have been virtually staged.

11. 2024-12-17
    status Pending
12. 2024-10-21
    status Pending
13. 2024-10-21
    status Pending
14. 2024-10-21
    historical
15. 2024-10-21
    historical
16. 2024-10-11
    listed $119,900 Active
17. 2024-10-11
    listed $119,900 Active
18. 2021-03-05
    soldstatus $67,400 Sold
19. 2021-03-05
    soldstatus $67,400 Sold
20. 2021-03-05
    soldstatus $67,400
21. 2021-03-05
    soldstatus $67,400
22. 2021-02-20
    status Pending
23. 2021-02-20
    status Pending
24. 2021-02-08
    price $74,900
25. 2021-02-08
    price $74,900
26. 2021-01-18
    price $79,900
27. 2021-01-18
    price $79,900
28. 2021-01-15
    soldstatus $53,000
29. 2021-01-04
    status Active
30. 2020-11-30
    price $84,900
31. 2020-11-25
    historical
32. 2020-11-18
    listed $84,900 Active
33. 2020-11-18
    listed $90,000 Active
34. 2020-11-18
    listed $74,900
35. 2020-02-06
    soldstatus $95,000
36. 2019-09-27
    listed $99,900

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,116
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$1,449
• − Management: −$1,449
• − Depreciation: −$4,652
• Taxable loss: −$1,589
• Est. tax savings @ 24.0%: +$381
• After-tax cash flow: $1,433/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: Greenville Public Schools
• NCES district ID: 2617160
• Math proficiency: 35% ▼ -7.00%
• Reading proficiency: 52% ▬ 0.00%
• Median HH income: $44,624
• Composite: 36.81/100
• National rank: #4566
• State rank: #167 of 540 in MI

Livability — Greenville

• Score: 66/100
• State rank: #426
• US rank: #11581

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greenville, MI
• County: Montcalm County · 18,212 people
• City population: 18,212
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 18,212
• Household income: $70,176
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 365.0

Population outlook (Montcalm County) Hauer SSP2

• Today (2025): 61,011 people
• By 2030: 59,467 · -2.5%
• By 2040: 55,427 · -9.2%
• By 2050: 50,517 · -17.2%
• By 2075: 38,731 · -36.5%
• By 2100: 26,770 · -56.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Iranian 5% Romanian 4% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 5% Chinese 1%

Political lean MEDSL · Montcalm

• 2024 margin: Solid R (+39.0) · D 29.8% · R 68.7% · Other 1.5%
• 2008→2024 swing: -38.7pp toward R · 2008: -0.3pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+37.7 2016: R+34.0 2012: R+8.6 2008: R+0.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.31%
• Current HPI: 249.996
• Rent YoY: —
• 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

+60.1% since first listed

32 events — show timeline

• 2026-05-12 Price Changed $159,900 MiRealSource-MiMLS
• 2026-05-12 Price Changed $159,900 REALCOMP
• 2026-05-12 Price Changed $159,900 SW Michigan MLS
• 2026-04-16 Listed $169,900 SW Michigan MLS
• 2026-04-16 Listed $169,900 REALCOMP
• 2026-04-16 Listed $169,900 MiRealSource-MiMLS
• 2024-12-17 Pending — REALCOMP
• 2024-10-21 Pending — REALCOMP
• 2024-10-21 Pending — MiRealSource-MiMLS
• 2024-10-21 Listing Removed — MiRealSource-MiMLS
• 2024-10-21 Listing Removed — REALCOMP
• 2024-10-11 Listed $119,900 MiRealSource-MiMLS
• 2024-10-11 Listed $119,900 REALCOMP
• 2021-03-05 Sold (Public Records) $67,400 Public Records
• 2021-03-05 Sold (MLS) $67,400 MiRealSource-MiMLS
• 2021-03-05 Sold (MLS) $67,400 SW Michigan MLS
• 2021-03-05 Sold (MLS) $67,400 REALCOMP
• 2021-02-20 Pending — REALCOMP
• 2021-02-20 Pending — SW Michigan MLS
• 2021-02-08 Price Changed $74,900 REALCOMP
• 2021-02-08 Price Changed $74,900 SW Michigan MLS
• 2021-01-18 Price Changed $79,900 REALCOMP
• 2021-01-18 Price Changed $79,900 SW Michigan MLS
• 2021-01-15 Sold (Public Records) $53,000 Public Records
• 2021-01-04 Relisted — SW Michigan MLS
• 2020-11-30 Price Changed $84,900 SW Michigan MLS
• 2020-11-25 Listing Removed — SW Michigan MLS
• 2020-11-18 Listed $74,900 MiRealSource-MiMLS
• 2020-11-18 Listed $90,000 SW Michigan MLS
• 2020-11-18 Listed $84,900 REALCOMP
• 2020-02-06 Sold (Public Records) $95,000 Public Records
• 2019-09-27 Listed $99,900 MiRealSource-MiMLS