2856 Longstreet Ave SW · Wyoming, MI 49509

$118,470

2 bd · 1.0 ba · 652 sqft · SingleFamily public records · 4 Days on market

Built 1930 5,271 sqft lot $182/sqft · 45% below area Est $214k · 45% under

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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 +28.7/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bed, 1 bath home ready for renovation. Interior has been cleared out, allowing for easy walkthrough and project planning. Simple layout with strong upside based on nearby renovated homes. Large backyard with usable space. Ideal for investors or flippers looking for a straightforward project. This property combines a peaceful setting with easy access to bus stops, shops, restaurant's & other everyday amenities. Seller will make no repairs. Cash or renovation financing preferred.

Key facts

• Large backyard
• Usable space
• Peaceful setting

Tags

• LARGE BACKYARD
• PEACEFUL SETTING
• EASY ACCESS TO BUS STOPS
• EASY ACCESS TO SHOPS
• EASY ACCESS TO RESTAURANTS
• USABLE SPACE

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-family residence; Residential property; Built in 1930
• Construction: Other construction materials; Shingle roof; 652 sq ft living area
• Exterior features: Sidewalk; Paved road access; Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Replacement windows; 7 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Cap rate 10.3% vs local median 3.8% in Wyoming — 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 77/100 on livability (#126 in MI, #3,095 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D-, amenities F.
• Wyoming Public Schools (urban): math 16% / reading 39% proficiency, ranked #394 of 540 in MI (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 88 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $820 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $33k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 4 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,470

Questions for the listing agent

1. Built in 1930 — 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. 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?
4. Crime grade is D 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. 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: 1.24% ✓
• Cap rate: 10.30%
• Cash-on-cash: 14.33%
• DSCR: 1.64
• GRM: 6.7

CMA / ARV

• ARV (median comp): $213,795
• List price: $118,470
• Delta: -44.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2617 Clyde Park Ave SW	0.41mi	2/1.0	624 (-4%)	20mo	$165,000	$264	57
806 Royal Oak St SW	0.51mi	2/1.0	720 (+10%)	14mo	$250,000	$347	47
945 33rd St SW	0.64mi	2/1.0	725 (+11%)	5mo	$215,000	$297	47
912 34th St SW	0.74mi	2/1.0	708 (+9%)	6mo	$217,500	$307	46
948 33rd St SW	0.67mi	2/1.0	725 (+11%)	12mo	$220,000	$303	40
3279 Buchanan Ave SW	0.73mi	2/1.0	720 (+10%)	13mo	$222,500	$309	38
944 33rd St SW	0.67mi	2/1.0	725 (+11%)	21mo	$206,000	$284	32

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: 4.7%
• Equity multiple: 1.18×
• Total profit: $6,010
• Equity at exit: $17,664

10-year hold

• IRR: 14.1%
• Equity multiple: 2.14×
• Total profit: $37,654
• Equity at exit: $10,243

Cash invested: $33,172 (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 49509

• Active inventory: 88
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,464 high
• Mortgage (P&I): −$621
• Tax from tax record: −$90 /mo · $1,078/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $396

Break-even live

Break-even rent $963

Max offer price $118,470

Occupancy floor 68%

Sensitivity live

Price	-10% $463	-5% $430	+0% $396	+5% $362	+10% $329
Rent	-10% $280	-5% $338	+0% $396	+5% $454	+10% $512
Rate	-1.0pp $456	-0.5pp $426	base $396	+0.5pp $365	+1.0pp $334

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: $29,618
• Closing costs: $3,554
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3123 Copley St SW Unit C Wyoming, MI	2.0	1.0	700	$1,495	$2.14	3d	1	0.37mi
3131 Copley St SW Unit A Wyoming, MI	2.0	1.0	700	$1,495	$2.14	3d	1	0.38mi
3200 Charlesgate Ave SW Unit A Wyoming, MI	2.0	1.0	700	$1,100	$1.57	15d	1	0.48mi
3475 Woodward Ave SW Wyoming, MI	1.0–2.0	1.0	842	$1,290	$1.53	24d	1	0.68mi
2727 Madelyn Dr SW Unit A Wyoming, MI	2.0	1.0	700	$1,225	$1.75	24d	1	0.76mi
1401 Prairie Pkwy SW Wyoming, MI	3.0	1.0–2.0	790	$1,958	$2.48	19d	1	0.94mi
3466 Reiser Ave SW Grand Rapids, MI	3.0	1.0	723	$1,995	$2.76	11d	1	1.10mi
2931 Burlingame Ave SW Wyoming, MI	1.0–2.0	1.0	800	$1,380	$1.73	3d	1	1.18mi
2134 Cleveland Ave SW Wyoming, MI	1.0	1.0	602	$945	$1.57	21d	1	1.20mi
2040 Division Ave S Unit 205 Grand Rapids, MI	1.0	1.0	719	$1,490	$2.07	3d	1	1.27mi
3920 Clyde Park Ave SW Wyoming, MI	1.0	1.0	700	$988	$1.41	44d	1	1.30mi
2935 Oak Valley Ave SW Wyoming, MI	1.0–2.0	1.0	695	$1,250	$1.80	11d	10	1.37mi

Listing history 6 events

1. 2026-05-06
   status Pending 490-char remark

   Show marketing remark (490 chars)

   2 bed, 1 bath home ready for renovation. Interior has been cleared out, allowing for easy walkthrough and project planning. Simple layout with strong upside based on nearby renovated homes. Large backyard with usable space. Ideal for investors or flippers looking for a straightforward project. This property combines a peaceful setting with easy access to bus stops, shops, restaurant's & other everyday amenities. Seller will make no repairs. Cash or renovation financing preferred.

2. 2026-05-06
   status Pending 490-char remark

   Show marketing remark (490 chars)

   2 bed, 1 bath home ready for renovation. Interior has been cleared out, allowing for easy walkthrough and project planning. Simple layout with strong upside based on nearby renovated homes. Large backyard with usable space. Ideal for investors or flippers looking for a straightforward project. This property combines a peaceful setting with easy access to bus stops, shops, restaurant's & other everyday amenities. Seller will make no repairs. Cash or renovation financing preferred.

3. 2026-05-06
   status Pending

   Show marketing remark (490 chars)

   2 bed, 1 bath home ready for renovation. Interior has been cleared out, allowing for easy walkthrough and project planning. Simple layout with strong upside based on nearby renovated homes. Large backyard with usable space. Ideal for investors or flippers looking for a straightforward project. This property combines a peaceful setting with easy access to bus stops, shops, restaurant's & other everyday amenities. Seller will make no repairs. Cash or renovation financing preferred.

4. 2026-05-01
   listed $118,470 Active 490-char remark

   Show marketing remark (490 chars)

   2 bed, 1 bath home ready for renovation. Interior has been cleared out, allowing for easy walkthrough and project planning. Simple layout with strong upside based on nearby renovated homes. Large backyard with usable space. Ideal for investors or flippers looking for a straightforward project. This property combines a peaceful setting with easy access to bus stops, shops, restaurant's & other everyday amenities. Seller will make no repairs. Cash or renovation financing preferred.

5. 2026-05-01
   listed $118,470 Active 490-char remark

   Show marketing remark (490 chars)

   2 bed, 1 bath home ready for renovation. Interior has been cleared out, allowing for easy walkthrough and project planning. Simple layout with strong upside based on nearby renovated homes. Large backyard with usable space. Ideal for investors or flippers looking for a straightforward project. This property combines a peaceful setting with easy access to bus stops, shops, restaurant's & other everyday amenities. Seller will make no repairs. Cash or renovation financing preferred.

6. 2026-05-01
   listed $118,470 Active

   Show marketing remark (490 chars)

   2 bed, 1 bath home ready for renovation. Interior has been cleared out, allowing for easy walkthrough and project planning. Simple layout with strong upside based on nearby renovated homes. Large backyard with usable space. Ideal for investors or flippers looking for a straightforward project. This property combines a peaceful setting with easy access to bus stops, shops, restaurant's & other everyday amenities. Seller will make no repairs. Cash or renovation financing preferred.

ⓘ 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: $1,078 · $90/mo
• Projected year-2 tax: $1,451 · $121/mo
• Expected delta: +$373/yr (+$31/mo · 34.6%)

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

Taxation est. · year 1

• Rental income: $17,566
• − Mortgage interest: −$6,636
• − Property taxes: −$1,078
• − Insurance: −$592
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$3,446
• Taxable income: $3,003
• Est. tax owed @ 24.0%: −$721
• After-tax cash flow: $4,031/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: Wyoming Public Schools
• NCES district ID: 2636570
• Math proficiency: 16% ▼ -8.00%
• Reading proficiency: 39% ▲ 4.00%
• Median HH income: $46,299
• Composite: 23.69/100
• National rank: #7835
• State rank: #394 of 540 in MI

Livability — Wyoming

• Score: 77/100
• State rank: #126
• US rank: #3095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wyoming, MI
• County: Kent County · 533,805 people
• City population: 56,117
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 28,152
• Household income: $65,132
• Rent vs Own: 30.6% rent · 69.4% own
• Severe rent burden: 681.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 49% Hispanic / Latino 34% Two or more races 20% Black 10% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 20% Puerto Rican 2% Cuban 2% Dominican 2%
• Common ancestry: Iranian 12% Romanian 6% Lithuanian 2%
• Foreign-born: 17% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 26% Vietnamese 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: ▼ -255.45%
• Current HPI: 345.1978
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-06 Pending — MiRealSource-MiMLS
• 2026-05-06 Pending — REALCOMP
• 2026-05-06 Pending — SW Michigan MLS
• 2026-05-01 Listed $118,470 SW Michigan MLS
• 2026-05-01 Listed $118,470 REALCOMP
• 2026-05-01 Listed $118,470 MiRealSource-MiMLS

Property tax history

+2.9%/yr

Latest (2025): $1,078 · +2.6% YoY. Source: county tax records.