6091 Rogue River Meadows Dr NE

Plainfield, MI 49306

$425,000F

4 bd · 2.5 ba · 1,861 sqft · Built 1989 · SingleFamily · Active · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $3,250/mo
• Mortgage (P&I): −$2,229
• Tax + insurance: −$437
• HOA: −$0
• Vac / Maint / Mgmt: −$682
• Net cashflow: $-99/mo
• Annual: $-1,183/yr
• Cap rate: 6.01%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• 1% rule: 0.76%
• Cash to close: $119,000

Investor read

• This is a 4-bed/2.5-bath single-family listed at $425k.
• At list price, monthly cash flow is $-99 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $408k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $325k (23.5% below list).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $325k (23.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Rockford Public Schools (suburban): math 59% / reading 64% proficiency, ranked #28 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 12% free/reduced lunch — higher-income household profile.
• Zoned schools: Belmont Elementary School (math 67% / reading 67%, grade B+, #105 of 1,397 statewide, top 9%, 354 students, 16% FRL); North Rockford Middle School (math 58% / reading 63%, grade B+, #51 of 493 statewide, top 11%, 885 students, 19% FRL); Rockford High School (math 46% / reading 71%, grade C, #91 of 713 statewide, top 13%, 1,819 students, 14% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: 66 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 18y 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 $168k; list at $425k implies a 154% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• 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?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.