904 College Ave NE · Grand Rapids, MI 49503

$219,000

4 bd · 1.0 ba · 1,563 sqft · SingleFamily public records · 46 Days on market

Built 1915 4,269 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 +14.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +4.5/10.0
• 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

* * Property is now vacant * * 904 College NE is a spacious 4 BR, 1 BA home featuring a main-floor bedroom and dedicated main-floor laundry--an ideal layout for everyday convenience. Just minutes from the Medical Mile and downtown with quick access to US-131, it offers an easy commute and a great location! Vinyl replacement windows and durable vinyl siding add low-maintenance appeal and long-term value. Just a little TLC and this thing is move-in ready! Don't miss this one. Schedule your showing today!

Key facts

• Durable vinyl siding
• Main-floor bedroom
• Great location

Tags

• MAIN-FLOOR BEDROOM
• DEDICATED MAIN-FLOOR LAUNDRY
• VINYL REPLACEMENT WINDOWS
• DURABLE VINYL SIDING
• GREAT LOCATION

Property features AI

Finance

• Other: Living area approximately 1,563
• Financial info: Details not provided
• HOA & community: Details not provided

Exterior

• Parking: Details not provided
• Security: Details not provided
• Utilities: Public water; Natural gas
• Home design: Traditional single-family residence; Built in 1915
• Construction: Vinyl siding; Shingle roof; Partial basement
• Exterior features: Wooded lot; Paved road access

Interior

• Kitchen: Range; Refrigerator; Dryer
• Bedrooms: Details not provided
• Flooring: Details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Replacement insulated windows; 8 total rooms
• Laundry & utility: Washer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $58 ($700/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $219k).
• Recommended offer: $212k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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: East Leonard Elementary (math 5% / reading 24%, grade F, #1,172 of 1,397 statewide, top 85%, 167 students, 92% FRL); Riverside Middle School (math 8% / reading 17%, grade F, #466 of 493 statewide, top 95%, 248 students, 89% FRL); Union High School (math 2% / reading 12%, grade F, #699 of 713 statewide, top 99%, 922 students, 88% FRL).
• Market conditions: Rents rising (+2.8%/yr); 184 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 79% 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 41% of the median local income ($65k/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

• It's been on market 46 days — a 3% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 17 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 $160k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $212,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.00% ✓
• Cap rate: 6.61%
• Cash-on-cash: 1.14%
• DSCR: 1.05
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.82% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-32,038
• Equity at exit: $32,654

10-year hold

• IRR: -6.2%
• Equity multiple: 0.61×
• Total profit: $-24,201
• Equity at exit: $18,935

Cash invested: $61,320 (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 49503

• Rents YoY: 2.8%
• Active inventory: 184
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,194 high
• Mortgage (P&I): −$1,148
• Tax from tax record: −$435 /mo · $5,219/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $58

Break-even live

Break-even rent $2,120

Max offer price $219,000

Occupancy floor 92%

Sensitivity live

Price	-10% $182	-5% $120	+0% $58	+5% $-4	+10% $-66
Rent	-10% $-115	-5% $-28	+0% $58	+5% $145	+10% $232
Rate	-1.0pp $169	-0.5pp $114	base $58	+0.5pp $2	+1.0pp $-56

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
519 Shirley St NE Grand Rapids, MI	5.0	2.0	1192	$2,045	$1.72	45d	1	0.05mi
728 Fairview Ave NE Grand Rapids, MI	4.0	2.0	2000	$2,100	$1.05	45d	1	0.55mi
414 Benson Ave NE Grand Rapids, MI	1.0–3.0	1.0–2.0	1110	$2,673	$2.41	45d	14	0.57mi
541 Eastern Ave NE Grand Rapids, MI	4.0	2.0	1600	$2,300	$1.44	45d	1	0.58mi
135 Page St NE Grand Rapids, MI	3.0	2.0	1100	$3,100	$2.82	45d	1	0.66mi
50 Mathews Ct NE Grand Rapids, MI	3.0	1.5	1100	$1,850	$1.68	45d	1	0.90mi
138 Travis St NE Grand Rapids, MI	4.0	2.0	1800	$2,395	$1.33	13d	1	1.09mi
700 Broadway Ave NW Unit 1 Grand Rapids, MI	4.0	2.0	1450	$2,795	$1.93	45d	1	1.15mi
1335 Hamilton Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1124	$1,395	$1.24	45d	1	1.32mi
523 Crosby St NW Grand Rapids, MI	5.0	2.0	1701	$2,200	$1.29	45d	1	1.33mi
1044 Muskegon Ave NW Unit 2 Grand Rapids, MI	3.0	1.0	1100	$1,800	$1.64	45d	1	1.40mi
1429 Quarry Ave NW Unit 1 Grand Rapids, MI	3.0	1.5	1200	$1,800	$1.50	45d	1	1.43mi
1542 Michigan St NE Grand Rapids, MI	3.0	1.0–2.0	836	$1,895	$2.27	5d	6	1.47mi
209 Division Ave S Grand Rapids, MI	1.0–3.0	1.0–2.0	1180	$1,495	$1.27	23d	2	1.48mi

Listing history 50 events

1. 2026-06-21
   days on market $219,000 Active 46 DOM
2. 2026-06-18
   days on market $219,000 Active 43 DOM
3. 2026-06-17
   days on market $219,000 Active 42 DOM
4. 2026-06-16
   days on market $219,000 Active 41 DOM
5. 2026-06-15
   days on market $219,000 Active 40 DOM
6. 2026-06-14
   days on market $219,000 Active 38 DOM
7. 2026-06-13
   days on market $219,000 Active 37 DOM
8. 2026-06-10
   days on market $219,000 Active 35 DOM
9. 2026-06-09
   days on market $219,000 Active 34 DOM
10. 2026-06-08
    days on market $219,000 Active 33 DOM
11. 2026-06-07
    days on market $219,000 Active 32 DOM
12. 2026-06-05
    days on market $219,000 Active 29 DOM
13. 2026-06-03
    days on market $219,000 Active 28 DOM
14. 2026-06-03
    days on market $219,000 Active 27 DOM
15. 2026-06-01
    days on market $219,000 Active 26 DOM
16. 2026-05-31
    days on market $219,000 Active 25 DOM
17. 2026-05-06
    listed $219,000 Active 624-char remark

    Show marketing remark (510 chars)

    * * Property is now vacant * * 904 College NE is a spacious 4 BR, 1 BA home featuring a main-floor bedroom and dedicated main-floor laundry--an ideal layout for everyday convenience. Just minutes from the Medical Mile and downtown with quick access to US-131, it offers an easy commute and a great location! Vinyl replacement windows and durable vinyl siding add low-maintenance appeal and long-term value. Just a little TLC and this thing is move-in ready! Don't miss this one. Schedule your showing today!

18. 2026-05-06
    listed $219,000 Active 624-char remark

    Show marketing remark (510 chars)

    * * Property is now vacant * * 904 College NE is a spacious 4 BR, 1 BA home featuring a main-floor bedroom and dedicated main-floor laundry--an ideal layout for everyday convenience. Just minutes from the Medical Mile and downtown with quick access to US-131, it offers an easy commute and a great location! Vinyl replacement windows and durable vinyl siding add low-maintenance appeal and long-term value. Just a little TLC and this thing is move-in ready! Don't miss this one. Schedule your showing today!

19. 2026-05-06
    listed $219,000 Active

    Show marketing remark (510 chars)

    * * Property is now vacant * * 904 College NE is a spacious 4 BR, 1 BA home featuring a main-floor bedroom and dedicated main-floor laundry--an ideal layout for everyday convenience. Just minutes from the Medical Mile and downtown with quick access to US-131, it offers an easy commute and a great location! Vinyl replacement windows and durable vinyl siding add low-maintenance appeal and long-term value. Just a little TLC and this thing is move-in ready! Don't miss this one. Schedule your showing today!

20. 2026-05-01
    historical
21. 2026-04-30
    historical
22. 2026-02-18
    price $224,500
23. 2026-02-18
    price $224,500
24. 2026-02-18
    price $224,500
25. 2026-02-05
    listed $234,500 Active
26. 2026-02-05
    listed $234,500 Active
27. 2023-03-06
    soldstatus $160,000
28. 2015-02-07
    historical
29. 2015-01-31
    historical
30. 2015-01-30
    historical
31. 2015-01-29
    historical
32. 2015-01-28
    historical
33. 2015-01-28
    historical
34. 2006-03-30
    historical
35. 2005-11-04
    listed $84,900
36. 2005-11-04
    listed $84,900
37. 1996-07-22
    historical
38. 1996-04-22
    listed $25,000
39. 1996-04-22
    listed $25,000
40. 1992-10-30
    historical
41. 1992-06-23
    listed $31,500
42. 1992-06-23
    listed $31,500
43. 1991-04-20
    historical
44. 1990-12-20
    listed $31,500
45. 1990-12-20
    listed $31,500
46. 1990-04-18
    historical
47. 1990-01-18
    listed $29,900
48. 1990-01-18
    listed $29,900
49. 1988-04-05
    listed $30,000
50. 1988-04-05
    listed $30,000

ⓘ 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: $5,219 · $435/mo
• Projected year-2 tax: $5,219 · $435/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,323
• − Mortgage interest: −$12,267
• − Property taxes: −$5,219
• − Insurance: −$1,095
• − Repairs & maintenance: −$2,106
• − Management: −$2,106
• − Depreciation: −$6,371
• Taxable loss: −$2,841
• Est. tax savings @ 24.0%: +$682
• After-tax cash flow: $1,382/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): 39,489
• Household income: $64,661
• Rent vs Own: 63.8% rent · 36.2% own
• Severe rent burden: 1891.0

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 0.60)
• Race & ethnicity: White 59% Hispanic / Latino 19% Two or more races 14% Black 14% Asian 3%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1%
• Common ancestry: Iranian 10% Romanian 7% Slovak 2%
• Foreign-born: 11% · Canada, South Korea, China
• Languages at home: 82% English-only · Spanish 15% Chinese 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: ▼ -347.22%
• Current HPI: 312.3878
• Rent YoY: ▲ 2.82%
• 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

+630.0% since first listed

34 events — show timeline

• 2026-05-06 Listed $219,000 SW Michigan MLS
• 2026-05-06 Listed $219,000 REALCOMP
• 2026-05-06 Listed $219,000 MiRealSource-MiMLS
• 2026-05-01 Listing Removed — MiRealSource-MiMLS
• 2026-04-30 Listing Removed — REALCOMP
• 2026-02-18 Price Changed $224,500 MiRealSource-MiMLS
• 2026-02-18 Price Changed $224,500 REALCOMP
• 2026-02-18 Price Changed $224,500 SW Michigan MLS
• 2026-02-05 Listed $234,500 REALCOMP
• 2026-02-05 Listed $234,500 MiRealSource-MiMLS
• 2023-03-06 Sold (Public Records) $160,000 Public Records
• 2015-02-07 Listing Removed — SW Michigan MLS
• 2015-01-31 Listing Removed — SW Michigan MLS
• 2015-01-30 Listing Removed — SW Michigan MLS
• 2015-01-29 Listing Removed — SW Michigan MLS
• 2015-01-28 Listing Removed — SW Michigan MLS
• 2015-01-28 Listing Removed — SW Michigan MLS
• 2006-03-30 Listing Removed — REALCOMP
• 2005-11-04 Listed $84,900 REALCOMP
• 2005-11-04 Listed $84,900 SW Michigan MLS
• 1996-07-22 Listing Removed — REALCOMP
• 1996-04-22 Listed $25,000 REALCOMP
• 1996-04-22 Listed $25,000 SW Michigan MLS
• 1992-10-30 Listing Removed — REALCOMP
• 1992-06-23 Listed $31,500 REALCOMP
• 1992-06-23 Listed $31,500 SW Michigan MLS
• 1991-04-20 Listing Removed — REALCOMP
• 1990-12-20 Listed $31,500 REALCOMP
• 1990-12-20 Listed $31,500 SW Michigan MLS
• 1990-04-18 Listing Removed — REALCOMP
• 1990-01-18 Listed $29,900 REALCOMP
• 1990-01-18 Listed $29,900 SW Michigan MLS
• 1988-04-05 Listed $30,000 REALCOMP
• 1988-04-05 Listed $30,000 SW Michigan MLS

Property tax history

+10.5%/yr

Latest (2025): $5,219 · +8.1% YoY. Source: county tax records.