1242 Alpine Ave NW · Grand Rapids, MI 49504

$225,000

4 bd · 2.0 ba · 1,442 sqft · SingleFamily public records · 4 Days on market

Built 1880 6,534 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 +18.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.7/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity in the heart of Grand Rapids' Northwest side! This fully occupied up/down duplex at 1242 Alpine Ave NW offers immediate cash flow with two 1-bedroom, 1-bathroom units and separately metered utilities, helping minimize owner expenses. Tenants enjoy ample off-street parking, a sought-after feature in this high-demand rental corridor. Conveniently located near downtown Grand Rapids, major employers, shopping, restaurants, and public transportation, this property presents an excellent opportunity for investors seeking a stable addition to their portfolio. Whether you're expanding your holdings or entering the multifamily market, this turnkey duplex offers strong rental appeal and long-term upside in a proven rental location. Priced right for a quick sale!Looking for more? 1246 and 1236 Alpine are also available, creating an 8 unit pack opportunity. Inquire for more details.

Key facts

• Turnkey duplex
• Strong rental appeal
• 6,534 sq ft lot

Tags

• FULLY OCCUPIED DUPLEX
• SEPARATELY METERED UTILITIES
• AMPLE OFF-STREET PARKING
• STRONG RENTAL APPEAL
• TURNKEY DUPLEX
• PROVEN RENTAL LOCATION

Property features AI

Finance

• Other: Zoned residential
• Financial info: Two-unit building with both units occupied; Unit 1 rent currently $875; Unit 2 rent currently $925
• HOA & community: Landlord pays trash removal and water/sewer

Exterior

• Utilities: Natural gas
• Home design: Multi-family property; Built in 1880; Facing information not provided
• Construction: Aluminum construction; Basement foundation
• Exterior features: Aluminum exterior

Interior

• Heating & cooling: Forced air heating
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/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 $209k (7.1% below list).
• Recommended offer: $209k (7.1% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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.
• Market conditions: Rents rising (+2.6%/yr); 153 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 92% 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).
• This rent runs 36% of the median local income ($70k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $209,023 (7.1% below list)

Questions for the listing agent

1. Built in 1880 — 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: 0.93% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.89%
• DSCR: 1.17
• GRM: 9.0

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: -10.6%
• Equity multiple: 0.62×
• Total profit: $-24,229
• Equity at exit: $33,548

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-7,549
• Equity at exit: $19,454

Cash invested: $63,000 (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 49504

• Rents YoY: 2.6%
• Active inventory: 153
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,090 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$173 /mo · $2,078/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $204

Break-even live

Break-even rent $1,831

Max offer price $225,000

Occupancy floor 85%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
734 Crosby St NW Unit 1 Grand Rapids, MI	3.0	1.0	1057	$1,800	$1.70	43d	1	0.07mi
927 Arianna St NW Grand Rapids, MI	4.0	3.0	1500	$3,000	$2.00	43d	1	0.25mi
1004 Jennette Ave NW Grand Rapids, MI	3.0	1.0	1000	$1,025	$1.02	43d	1	0.28mi
1044 Muskegon Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1100	$1,800	$1.64	43d	1	0.30mi
523 Crosby St NW Grand Rapids, MI	5.0	2.0	1701	$2,200	$1.29	43d	1	0.36mi
1429 Quarry Ave NW Unit 1 Grand Rapids, MI	3.0	1.5	1200	$1,800	$1.50	43d	1	0.39mi
1335 Hamilton Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1124	$1,395	$1.24	43d	1	0.41mi
1756 Tamarack Ave NW Grand Rapids, MI	3.0	2.0	1700	$2,195	$1.29	43d	1	0.73mi
700 Broadway Ave NW Unit 1 Grand Rapids, MI	4.0	2.0	1450	$2,795	$1.93	43d	1	0.81mi
50 Mathews Ct NE Grand Rapids, MI	3.0	1.5	1100	$1,850	$1.68	43d	1	1.11mi
135 Page St NE Grand Rapids, MI	3.0	2.0	1100	$3,100	$2.82	43d	1	1.17mi
138 Travis St NE Grand Rapids, MI	4.0	2.0	1800	$2,395	$1.33	11d	1	1.24mi
200 Gold Ave NW Grand Rapids, MI	3.0	1.0	1112	$1,549	$1.39	43d	1	1.31mi

Listing history 6 events

1. 2026-06-18
   days on market $225,000 Active 4 DOM
2. 2026-06-17
   days on market $225,000 Active 3 DOM
3. 2026-06-16
   days on market $225,000 Active 2 DOM
4. 2026-06-15
   listing id $225,000 Active 1 DOM
5. 2026-06-15
   remarks 699-char remark
6. 2026-06-15
   listed $225,000 Active 1 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: $2,078 · $173/mo
• Projected year-2 tax: $2,772 · $231/mo
• Expected delta: +$693/yr (+$58/mo · 33.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 24% 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: $25,083
• − Mortgage interest: −$12,603
• − Property taxes: −$2,078
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,007
• − Management: −$2,007
• − Depreciation: −$6,545
• Taxable loss: −$1,283
• Est. tax savings @ 24.0%: +$308
• After-tax cash flow: $2,761/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

+0.0% since first listed

2 events — show timeline

• 2026-06-13 Listed $225,000 REALCOMP
• 2026-06-13 Listed $225,000 MiRealSource-MiMLS

Property tax history

+5.3%/yr

Latest (2025): $2,078 · +2.7% YoY. Source: county tax records.