1012 Calvary Ave NW · Grand Rapids, MI 49504

$315,000

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 8 Days on market

Built 1991 8,275 sqft lot

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +6.2/30.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 1% rule +0.5/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is the home you've been waiting for! Just minutes from the heart of Grand Rapids, enjoy dinner at fine restaurants, concerts at the Acrisure Amphitheater, or soccer games at the Amway Stadium. Spend afternoons downtown, savoring lunch while exploring the renowned Art Prize or participating in the Amway Riverbank Run. Retreat to your beautifully landscaped backyard, featuring a charming bar on the deck, perfect for relaxation. The newly remodeled basement includes a stunning bar and modern amenities, ideal for entertaining. This maintenance-free home boasts 3 bedrooms and 2 baths with key upgrades such as new siding, a widened driveway, a remodeled basement with a full bathroom, custom shelving, refaced kitchen cabinets, new laminate flooring, and a stylish shiplap feature wall. Don't miss out on this move-in ready gem!

Key facts

• Widened driveway
• Landscaped backyard
• New siding

Tags

• LANDSCAPED BACKYARD
• NEWLY REMODELED BASEMENT
• MODERN AMENITIES
• MAINTENANCE FREE HOME
• NEW SIDING
• WIDENED DRIVEWAY

Property features AI

Exterior

• Utilities: Natural gas available; Electricity available
• Home design: Ranch-style single-family residence; Built in 1991; Approximately 1,976 living area (unit provided)
• Construction: Vinyl siding exterior
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Has air conditioning
• Interior features: Five total rooms; Full basement
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-572 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $214k (32.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (44.9% below list).
• Recommended offer: $173k (44.9% below list) — sets the bar for 1% rule.

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.
• Market conditions: Rents rising (+2.6%/yr); 153 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 86% 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 $2k of loan paydown is wiped out by about $9k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 22 sale attempts since 38y 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 $65k; list at $315k implies a 385% gain — meaningful room to come down on a strong offer.

Recommended offer $173,415 (44.9% 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. 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: 0.55% ✗
• Cap rate: 4.11%
• Cash-on-cash: -7.79%
• DSCR: 0.65
• GRM: 15.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.64% rent growth · sell at horizon

5-year hold

• IRR: -30.3%
• Equity multiple: -0.00×
• Total profit: $-88,237
• Equity at exit: $46,968

10-year hold

• IRR: -34.0%
• Equity multiple: -0.44×
• Total profit: $-126,799
• Equity at exit: $27,235

Cash invested: $88,200 (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 49504

• Rents YoY: 2.6%
• Active inventory: 153
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $1,734 high
• Mortgage (P&I): −$1,652
• Tax from tax record: −$159 /mo · $1,910/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $-572

Break-even live

Break-even rent $2,459

Max offer price $213,902

Occupancy floor —

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1046 Courtney St NW Unit 2 Grand Rapids, MI	2.0	1.0	895	$2,497	$2.79	43d	1	0.46mi
1019 Widdicomb Ave NW Unit 2 Grand Rapids, MI	2.0	1.0	1000	$1,575	$1.57	43d	1	0.51mi
900 Leonard St NW Grand Rapids, MI	2.0	1.0–2.0	720	$2,850	$3.96	2d	10	0.58mi
1011 Jennette Ave NW Unit 2 Grand Rapids, MI	2.0	1.0	720	$1,450	$2.01	43d	1	0.63mi
1004 Jennette Ave NW Grand Rapids, MI	3.0	1.0	1000	$1,025	$1.02	43d	1	0.65mi
745 Stocking Ave NW Grand Rapids, MI	1.0–2.0	1.0	879	$1,541	$1.75	14d	3	0.69mi
1205 Bridge St NW Unit C Grand Rapids, MI	3.0	1.0	850	$1,900	$2.24	43d	1	0.78mi
734 Crosby St NW Unit 1 Grand Rapids, MI	3.0	1.0	1057	$1,800	$1.70	43d	1	0.82mi
1044 Muskegon Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1100	$1,800	$1.64	43d	1	0.91mi
555 7th St NW Grand Rapids, MI	2.0–4.0	2.0	547	$795	$1.45	43d	6	1.02mi
149 Valley Ave NW Unit 1346766P Grand Rapids, MI	2.0	1.0	893	$2,566	$2.87	23d	1	1.04mi
1335 Hamilton Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1124	$1,395	$1.24	43d	1	1.17mi
407 11th St NW Unit C Grand Rapids, MI	2.0	1.0	772	$1,500	$1.94	43d	1	1.20mi
417 6th St NW Unit 1346768P Grand Rapids, MI	2.0	1.0	742	$2,794	$3.77	43d	1	1.21mi
745 Jackson St NW Grand Rapids, MI	2.0	1.0	800	$1,625	$2.03	43d	1	1.22mi
608 Bridge St NW Grand Rapids, MI	2.0	1.0	1100	$1,595	$1.45	43d	1	1.24mi
200 Gold Ave NW Grand Rapids, MI	3.0	1.0	1112	$1,549	$1.39	43d	1	1.34mi
601 Lake Michigan Dr NW Unit 601-403 Grand Rapids, MI	2.0	1.0	1100	$2,150	$1.95	43d	1	1.43mi
934 Hovey St SW Unit 2 Grand Rapids, MI	2.0	1.0	850	$1,195	$1.41	43d	1	1.45mi
18 Indiana Ave SW Grand Rapids, MI	2.0	1.0	1100	$1,395	$1.27	43d	1	1.48mi
18 Indiana Ave SW Unit 2 Grand Rapids, MI	3.0	1.0	1000	$1,295	$1.29	43d	1	1.48mi
921 Watson St SW Unit 1 Grand Rapids, MI	2.0	1.0	880	$1,250	$1.42	43d	1	1.50mi

Listing history 7 events

1. 2026-06-18
   days on market $315,000 Active 8 DOM
2. 2026-06-17
   days on market $315,000 Active 7 DOM
3. 2026-06-16
   days on market $315,000 Active 6 DOM
4. 2026-06-15
   days on market $315,000 Active 5 DOM
5. 2026-06-14
   days on market $315,000 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $315,000 Active 2 DOM

ⓘ 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: $1,910 · $159/mo
• Projected year-2 tax: $3,380 · $282/mo
• Expected delta: +$1,471/yr (+$123/mo · 77.0%)

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

Taxation est. · year 1

• Rental income: $20,810
• − Mortgage interest: −$17,645
• − Property taxes: −$1,910
• − Insurance: −$1,575
• − Repairs & maintenance: −$1,665
• − Management: −$1,665
• − Depreciation: −$9,164
• Taxable loss: −$12,813
• Est. tax savings @ 24.0%: +$3,075
• After-tax cash flow: $-3,792/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): 40,036
• Household income: $70,119
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 2132.0

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 (70%)
• Race & ethnicity: White 70% Hispanic / Latino 16% Two or more races 10% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 12% Puerto Rican 1%
• Common ancestry: Romanian 11% Iranian 10% Lithuanian 3%
• Foreign-born: 8% · Canada, South Korea, China
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -274.76%
• Current HPI: 313.231
• Rent YoY: ▲ 2.64%
• 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

+3215.8% since first listed

41 events — show timeline

• 2026-06-10 Listed $315,000 REALCOMP
• 2026-06-10 Listed $315,000 SW Michigan MLS
• 2026-06-10 Listed $315,000 MiRealSource-MiMLS
• 2015-05-18 Sold (MLS) $65,000 SW Michigan MLS
• 2015-05-18 Sold (MLS) $65,000 REALCOMP
• 2015-02-08 Listing Removed — SW Michigan MLS
• 2015-02-07 Listing Removed — SW Michigan MLS
• 2015-01-29 Listing Removed — SW Michigan MLS
• 2015-01-29 Listing Removed — SW Michigan MLS
• 2015-01-29 Listing Removed — SW Michigan MLS
• 2015-01-26 Listed $80,080 SW Michigan MLS
• 2015-01-26 Listed $80,080 REALCOMP
• 2013-08-30 Listing Removed — REALCOMP
• 2013-08-30 Listing Removed — SW Michigan MLS
• 2013-04-01 Listed $69,900 REALCOMP
• 2013-04-01 Listed $69,900 SW Michigan MLS
• 2008-01-25 Sold (Public Records) $112,500 Public Records
• 2008-01-16 Sold (MLS) $112,500 REALCOMP
• 2008-01-16 Sold (MLS) $112,500 SW Michigan MLS
• 2007-07-09 Listing Removed — REALCOMP
• 2007-06-21 Listing Removed — REALCOMP
• 2007-06-18 Listed $114,900 REALCOMP
• 2007-06-18 Listed $114,900 SW Michigan MLS
• 2007-06-12 Listed $119,900 REALCOMP
• 2007-06-12 Listed $119,900 SW Michigan MLS
• 2007-02-04 Listed $129,000 REALCOMP
• 2007-02-04 Listed $129,000 SW Michigan MLS
• 1992-07-10 Sold (MLS) $69,000 REALCOMP
• 1992-07-10 Sold (MLS) $69,000 SW Michigan MLS
• 1992-04-17 Listing Removed — REALCOMP
• 1992-04-17 Listed $69,900 REALCOMP
• 1992-04-17 Listed $69,900 SW Michigan MLS
• 1992-01-17 Listed $69,900 REALCOMP
• 1992-01-17 Listed $69,900 SW Michigan MLS
• 1992-01-15 Listing Removed — REALCOMP
• 1991-10-15 Listing Removed — REALCOMP
• 1991-10-15 Listed $69,900 REALCOMP
• 1991-10-15 Listed $69,900 SW Michigan MLS
• 1991-08-20 Listed $69,900 REALCOMP
• 1991-08-20 Listed $69,900 SW Michigan MLS
• 1988-07-27 Listed $9,500 SW Michigan MLS

Property tax history

+0.7%/yr

Latest (2025): $1,910 · +2.4% YoY. Source: county tax records.