1732 Silver Ave SE · Grand Rapids, MI 49507

$268,000

4 bd · 1.0 ba · 1,638 sqft · SingleFamily public records · 11 Days on market

Built 1936 4,792 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 +13.7/30.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• 1% rule +4.0/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is your chance to own a spacious 4 bedroom, 2 full bath home! Newer flooring throughout!! Updated open kitchen area perfect for entertaining, 3 bedrooms on the main floor and the 2 full baths. Downstairs is a huge 4th bedroom with 2 egress windows (could split and make a 5th bedroom potentially) or even use it as a rec room. The large enclosed front porch provides even more space to hang out. . Out back is a great-sized yard, storage shed and alley access!

Key facts

• Alley access
• Great-sized yard
• Open kitchen area

Tags

• OPEN KITCHEN AREA
• ENCLOSED FRONT PORCH
• GREAT-SIZED YARD
• STORAGE SHED
• ALLEY ACCESS

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $268k.

Deal economics

• At list price, monthly cash flow is $18 ($221/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 $241k (10.2% below list).
• Recommended offer: $241k (10.2% 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: Mulick Park Elementary School (math 15% / reading 24%, grade F, #1,091 of 1,397 statewide, top 79%, 244 students, 89% 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-school proficiency averages 34% at this address vs 22% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Grand Rapids Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+4.7%/yr); 178 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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).
• At $2,407/mo this rent would consume 47% of the median local household income ($61k/yr) (locally 1625% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 26 sale attempts since 27y 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.
• Current owner paid $220k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $240,669 (10.2% below list)

Questions for the listing agent

1. Built in 1936 — 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. 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?
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: 0.90% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.30%
• DSCR: 1.01
• GRM: 9.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.8%
• Equity multiple: 0.49×
• Total profit: $-37,910
• Equity at exit: $39,960

10-year hold

• IRR: -2.4%
• Equity multiple: 0.83×
• Total profit: $-13,048
• Equity at exit: $23,172

Cash invested: $75,040 (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: 9.3×

Monthly cashflow live

• Estimated rent: $2,407 high
• Mortgage (P&I): −$1,405
• Tax from tax record: −$366 /mo · $4,389/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$505
• Net cashflow: $18

Break-even live

Break-even rent $2,383

Max offer price $268,000

Occupancy floor 94%

Sensitivity live

Price	-10% $170	-5% $94	+0% $18	+5% $-57	+10% $-133
Rent	-10% $-172	-5% $-77	+0% $18	+5% $114	+10% $209
Rate	-1.0pp $153	-0.5pp $87	base $18	+0.5pp $-51	+1.0pp $-122

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: $67,000
• Closing costs: $8,040
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1031 Merrifield St SE Grand Rapids, MI	3.0	2.0	1238	$2,300	$1.86	16d	1	0.51mi
1400 Rossman Ave SE Grand Rapids, MI	3.0	1.0	1400	$2,200	$1.57	45d	1	0.59mi
1027 Underwood Ave SE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	16d	1	0.82mi
2551 Eastern Ave SE Unit 1 Grand Rapids, MI	3.0	2.0	1600	$2,100	$1.31	45d	1	1.11mi
425 Woodlawn St SE Grand Rapids, MI	4.0	1.0	2072	$2,200	$1.06	45d	1	1.18mi
1154 Prospect Ave SE Grand Rapids, MI	5.0	2.0	1800	$2,300	$1.28	45d	1	1.23mi
729 Bates St SE Unit 1 Grand Rapids, MI	4.0	3.5	1576	$2,395	$1.52	45d	1	1.32mi
1353 Pinecrest Ave SE Grand Rapids, MI	3.0	1.5	1866	$3,500	$1.88	16d	1	1.32mi

Listing history 50 events

1. 2026-04-28
   status Pending 465-char remark

   Show marketing remark (465 chars)

   Here is your chance to own a spacious 4 bedroom, 2 full bath home! Newer flooring throughout!! Updated open kitchen area perfect for entertaining, 3 bedrooms on the main floor and the 2 full baths. Downstairs is a huge 4th bedroom with 2 egress windows (could split and make a 5th bedroom potentially) or even use it as a rec room. The large enclosed front porch provides even more space to hang out. . Out back is a great-sized yard, storage shed and alley access!

2. 2026-04-28
   status Pending 465-char remark

   Show marketing remark (465 chars)

   Here is your chance to own a spacious 4 bedroom, 2 full bath home! Newer flooring throughout!! Updated open kitchen area perfect for entertaining, 3 bedrooms on the main floor and the 2 full baths. Downstairs is a huge 4th bedroom with 2 egress windows (could split and make a 5th bedroom potentially) or even use it as a rec room. The large enclosed front porch provides even more space to hang out. . Out back is a great-sized yard, storage shed and alley access!

3. 2026-04-28
   status Pending

   Show marketing remark (465 chars)

   Here is your chance to own a spacious 4 bedroom, 2 full bath home! Newer flooring throughout!! Updated open kitchen area perfect for entertaining, 3 bedrooms on the main floor and the 2 full baths. Downstairs is a huge 4th bedroom with 2 egress windows (could split and make a 5th bedroom potentially) or even use it as a rec room. The large enclosed front porch provides even more space to hang out. . Out back is a great-sized yard, storage shed and alley access!

4. 2026-04-15
   listed $268,000 Active 465-char remark

   Show marketing remark (465 chars)

   Here is your chance to own a spacious 4 bedroom, 2 full bath home! Newer flooring throughout!! Updated open kitchen area perfect for entertaining, 3 bedrooms on the main floor and the 2 full baths. Downstairs is a huge 4th bedroom with 2 egress windows (could split and make a 5th bedroom potentially) or even use it as a rec room. The large enclosed front porch provides even more space to hang out. . Out back is a great-sized yard, storage shed and alley access!

5. 2026-04-15
   listed $268,000 Active 465-char remark

   Show marketing remark (465 chars)

   Here is your chance to own a spacious 4 bedroom, 2 full bath home! Newer flooring throughout!! Updated open kitchen area perfect for entertaining, 3 bedrooms on the main floor and the 2 full baths. Downstairs is a huge 4th bedroom with 2 egress windows (could split and make a 5th bedroom potentially) or even use it as a rec room. The large enclosed front porch provides even more space to hang out. . Out back is a great-sized yard, storage shed and alley access!

6. 2026-04-15
   listed $268,000 Active

   Show marketing remark (465 chars)

   Here is your chance to own a spacious 4 bedroom, 2 full bath home! Newer flooring throughout!! Updated open kitchen area perfect for entertaining, 3 bedrooms on the main floor and the 2 full baths. Downstairs is a huge 4th bedroom with 2 egress windows (could split and make a 5th bedroom potentially) or even use it as a rec room. The large enclosed front porch provides even more space to hang out. . Out back is a great-sized yard, storage shed and alley access!

7. 2023-07-12
   soldstatus $220,000
8. 2023-07-07
   soldstatus $220,000 Sold
9. 2023-07-07
   soldstatus $220,000 Sold
10. 2023-06-16
    status Pending
11. 2023-06-16
    status Pending
12. 2023-06-16
    status Pending
13. 2023-06-13
    listed $199,000 Active
14. 2023-06-13
    listed $199,000 Active
15. 2023-06-13
    listed $199,000 Active
16. 2016-08-18
    soldstatus $74,900
17. 2016-07-20
    soldstatus $99,900
18. 2016-07-20
    soldstatus $99,900 Sold
19. 2016-06-17
    status Pending
20. 2016-06-17
    listed $99,900 Active
21. 2016-06-17
    listed $99,900
22. 2015-02-11
    historical
23. 2015-02-07
    historical
24. 2015-02-04
    historical
25. 2015-02-03
    historical
26. 2014-01-17
    historical
27. 2013-10-17
    listed $74,900
28. 2013-10-17
    listed $74,900
29. 2012-12-03
    soldstatus $56,000
30. 2012-11-26
    soldstatus $56,000
31. 2012-11-26
    soldstatus $56,000
32. 2012-09-07
    listed $64,900
33. 2012-09-07
    listed $64,900
34. 2011-08-03
    soldstatus $59,900
35. 2011-08-03
    soldstatus $59,900
36. 2011-06-30
    listed $59,900
37. 2011-06-30
    listed $59,900
38. 2011-06-30
    listed $59,900
39. 2011-06-30
    historical
40. 2011-06-30
    historical
41. 2011-06-30
    listed $59,900
42. 2011-05-13
    soldstatus $29,000
43. 2011-05-13
    soldstatus $29,000
44. 2011-04-13
    listed $29,000
45. 2011-04-13
    listed $29,000
46. 2006-09-30
    historical
47. 2006-05-05
    soldstatus $124,000
48. 2006-02-20
    listed $119,900
49. 2006-02-20
    listed $119,900
50. 2006-01-06
    soldstatus $120,000

ⓘ 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: $4,389 · $366/mo
• Projected year-2 tax: $4,389 · $366/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: $28,880
• − Mortgage interest: −$15,012
• − Property taxes: −$4,389
• − Insurance: −$1,340
• − Repairs & maintenance: −$2,310
• − Management: −$2,310
• − Depreciation: −$7,796
• Taxable loss: −$4,278
• Est. tax savings @ 24.0%: +$1,027
• After-tax cash flow: $1,248/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

+571.7% since first listed

60 events — show timeline

• 2026-04-28 Pending — MiRealSource-MiMLS
• 2026-04-28 Pending — REALCOMP
• 2026-04-28 Pending — SW Michigan MLS
• 2026-04-15 Listed $268,000 SW Michigan MLS
• 2026-04-15 Listed $268,000 REALCOMP
• 2026-04-15 Listed $268,000 MiRealSource-MiMLS
• 2023-07-12 Sold (Public Records) $220,000 Public Records
• 2023-07-07 Sold (MLS) $220,000 SW Michigan MLS
• 2023-07-07 Sold (MLS) $220,000 REALCOMP
• 2023-06-16 Pending — REALCOMP
• 2023-06-16 Pending — MiRealSource-MiMLS
• 2023-06-16 Pending — SW Michigan MLS
• 2023-06-13 Listed $199,000 MiRealSource-MiMLS
• 2023-06-13 Listed $199,000 SW Michigan MLS
• 2023-06-13 Listed $199,000 REALCOMP
• 2016-08-18 Sold (Public Records) $74,900 Public Records
• 2016-07-20 Sold (MLS) $99,900 SW Michigan MLS
• 2016-07-20 Sold (MLS) $99,900 REALCOMP
• 2016-06-17 Pending — SW Michigan MLS
• 2016-06-17 Listed $99,900 SW Michigan MLS
• 2016-06-17 Listed $99,900 REALCOMP
• 2015-02-11 Listing Removed — SW Michigan MLS
• 2015-02-07 Listing Removed — SW Michigan MLS
• 2015-02-04 Listing Removed — SW Michigan MLS
• 2015-02-03 Listing Removed — SW Michigan MLS
• 2014-01-17 Listing Removed — REALCOMP
• 2013-10-17 Listed $74,900 REALCOMP
• 2013-10-17 Listed $74,900 SW Michigan MLS
• 2012-12-03 Sold (Public Records) $56,000 Public Records
• 2012-11-26 Sold (MLS) $56,000 REALCOMP
• 2012-11-26 Sold (MLS) $56,000 SW Michigan MLS
• 2012-09-07 Listed $64,900 REALCOMP
• 2012-09-07 Listed $64,900 SW Michigan MLS
• 2011-08-03 Sold (MLS) $59,900 REALCOMP
• 2011-08-03 Sold (MLS) $59,900 SW Michigan MLS
• 2011-06-30 Listed $59,900 REALCOMP
• 2011-06-30 Listing Removed — REALCOMP
• 2011-06-30 Listing Removed — SW Michigan MLS
• 2011-06-30 Listed $59,900 SW Michigan MLS
• 2011-06-30 Listed $59,900 REALCOMP
• 2011-06-30 Listed $59,900 SW Michigan MLS
• 2011-05-13 Sold (MLS) $29,000 REALCOMP
• 2011-05-13 Sold (MLS) $29,000 SW Michigan MLS
• 2011-04-13 Listed $29,000 REALCOMP
• 2011-04-13 Listed $29,000 SW Michigan MLS
• 2006-09-30 Listing Removed — REALCOMP
• 2006-05-05 Sold (Public Records) $124,000 Public Records
• 2006-02-20 Listed $119,900 REALCOMP
• 2006-02-20 Listed $119,900 SW Michigan MLS
• 2006-01-06 Sold (Public Records) $120,000 Public Records
• 2003-03-10 Sold (MLS) $107,000 REALCOMP
• 2003-03-10 Sold (MLS) $107,000 SW Michigan MLS
• 2003-01-06 Listed $107,900 REALCOMP
• 2003-01-06 Listed $107,900 SW Michigan MLS
• 2002-12-12 Listing Removed — REALCOMP
• 2002-09-12 Listed $111,900 REALCOMP
• 2002-09-12 Listed $111,900 SW Michigan MLS
• 2000-04-07 Listing Removed — REALCOMP
• 1999-10-07 Listed $39,900 REALCOMP
• 1999-10-07 Listed $39,900 SW Michigan MLS

Property tax history

+9.5%/yr

Latest (2025): $4,389 · -3.3% YoY. Source: county tax records.