127 E 15th St · Holland, MI 49423

$139,900

4 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 7 Days on market

Built 1800 4,752 sqft lot Est $262k · 47% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +4.1/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

Key facts

• 4,752 sq ft lot
• 2 garage spots
• Built 1800

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Natural gas available and connected; Electricity available; Natural gas water heater
• Home design: Traditional single-family residence; One- to two-story configuration (entry level not specified)
• Construction: Aluminum siding; Composition roof; Built in 1800
• Exterior features: Paved road access; Lot area approximately 0.11 acres; Public water

Interior

• Kitchen: Kitchen (12 x 11)
• Bedrooms: Primary bedroom (16 x 11); Bedroom 2 (7 x 14); Bedroom 3 (11 x 7); Bedroom 4 (16 x 11); Bedroom 5 (16 x 11)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Storm windows; Partial basement; Seven total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $786 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 13.0% vs local median 2.5% in Holland — 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 82/100 on livability (#46 in MI, #1,066 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F.
• Holland City School District (urban): math 26% / reading 43% proficiency, ranked #292 of 540 in MI (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+10.0%/yr); 257 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).
• This rent runs 32% of the median local income ($82k/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 $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Ottawa County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $39k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 32y 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 $53k; list at $140k implies a 166% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1800 — 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. 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.
4. 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.
5. 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: 1.55% ✓
• Cap rate: 13.03%
• Cash-on-cash: 24.07%
• DSCR: 2.07
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $262,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
376 College Ave	0.16mi	5/1.5 (+1)	1,176 (+3%)	1mo	$386,000	$328	79
91 E 16th St	0.10mi	3/1.0 (-1)	1,270 (+11%)	11mo	$160,000	$126	62
35 E 17th St	0.24mi	3/2.0 (-1)	1,256 (+10%)	2mo	$312,000	$248	61
101 E 25th St	0.63mi	3/1.0 (-1)	1,138 (-0%)	8mo	$261,100	$229	59
131 W 20th St	0.67mi	3/1.5 (-1)	1,130 (-1%)	4mo	$260,000	$230	57
112 E 24th St	0.59mi	4/2.0	1,196 (+5%)	7mo	$299,900	$251	55
69 W 13th St	0.47mi	3/1.0 (-1)	1,052 (-8%)	9mo	$205,000	$195	53
150 W 16th St	0.65mi	3/1.0 (-1)	1,206 (+6%)	3mo	$255,000	$211	52
25 W 14th St	0.35mi	3/1.5 (-1)	1,277 (+12%)	10mo	$265,000	$208	48
603 Central Ave	0.70mi	3/1.0 (-1)	977 (-14%)	3mo	$310,000	$317	36
603 Central Ave Lot : 7	0.70mi	3/1.0 (-1)	977 (-14%)	3mo	$310,000	$317	36
188 E 26th St	0.73mi	3/1.0 (-1)	1,292 (+13%)	4mo	$295,000	$228	35

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 1.99×
• Total profit: $38,864
• Equity at exit: $20,860

10-year hold

• IRR: 33.8%
• Equity multiple: 4.84×
• Total profit: $150,572
• Equity at exit: $12,096

Cash invested: $39,172 (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 49423

• Rents YoY: 10.0%
• Active inventory: 257
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,172 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$138 /mo · $1,660/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $786

Break-even live

Break-even rent $1,178

Max offer price $139,900

Occupancy floor 59%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
88 E 18th St Holland, MI	4.0	1.0	1466	$2,095	$1.43	43d	1	0.21mi
54 W 35th St Holland, MI	3.0	1.0	1118	$2,600	$2.33	14d	1	1.36mi
717 E 24th St Holland, MI	1.0–3.0	1.0–2.0	788	$2,300	$2.92	2d	1	1.39mi

Listing history 24 events

1. 2026-05-22
   status Pending 282-char remark

   Show marketing remark (282 chars)

   This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

2. 2026-05-22
   status Pending 282-char remark

   Show marketing remark (282 chars)

   This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

3. 2026-05-22
   status Pending

   Show marketing remark (282 chars)

   This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

4. 2026-05-19
   status Active 282-char remark

   Show marketing remark (282 chars)

   This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

5. 2026-05-18
   status Active 282-char remark

   Show marketing remark (282 chars)

   This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

6. 2026-05-18
   status Active

   Show marketing remark (282 chars)

   This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

7. 2026-05-10
   status Pending 282-char remark

   Show marketing remark (282 chars)

   This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

8. 2026-05-10
   status Pending 282-char remark

   Show marketing remark (282 chars)

   This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

9. 2026-05-10
   status Pending

   Show marketing remark (282 chars)

   This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

10. 2026-05-07
    listed $139,900 Active 282-char remark

    Show marketing remark (282 chars)

    This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

11. 2026-05-07
    listed $139,900 Active 282-char remark

    Show marketing remark (282 chars)

    This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

12. 2026-05-07
    listed $139,900 Active

    Show marketing remark (282 chars)

    This one is a real gem. Needs a total makeover except for the Roof and Furnace and exterior. Definately College Rental location and could be 4 bedroom 2 baths with much remodeling. Currently 5 Bedrooms and 1 bath. Huge living room area with good sized kitchen waiting for a new one.

13. 2012-02-08
    soldstatus $52,667
14. 2012-02-08
    soldstatus $52,667
15. 2011-09-01
    listed $59,000
16. 2011-09-01
    listed $59,000
17. 1997-07-29
    soldstatus $60,000
18. 1997-07-29
    soldstatus $60,000
19. 1997-03-31
    listed $63,900
20. 1997-03-31
    listed $63,900
21. 1994-08-29
    soldstatus $42,000
22. 1994-08-29
    soldstatus $42,000
23. 1994-01-24
    listed $44,900
24. 1994-01-24
    listed $44,900

ⓘ 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: $1,660 · $138/mo
• Projected year-2 tax: $1,907 · $159/mo
• Expected delta: +$247/yr (+$21/mo · 14.9%)

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,066
• − Mortgage interest: −$7,837
• − Property taxes: −$1,660
• − Insurance: −$700
• − Repairs & maintenance: −$2,085
• − Management: −$2,085
• − Depreciation: −$4,070
• Taxable income: $7,630
• Est. tax owed @ 24.0%: −$1,831
• After-tax cash flow: $7,598/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: Holland City School District
• NCES district ID: 2618420
• Math proficiency: 26% ▼ -6.00%
• Reading proficiency: 43% ▼ -2.00%
• Median HH income: $47,880
• Composite: 29.67/100
• National rank: #6463
• State rank: #292 of 540 in MI

Livability — Holland

• Score: 82/100
• State rank: #46
• US rank: #1066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Holland, MI
• County: Allegan County · 47,060 people
• City population: 96,870
• Metro: Holland, MI
• Population (ZIP): 47,060
• Household income: $81,858
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 875.0

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 313,561 people
• By 2030: 330,027 · +5.3%
• By 2040: 361,118 · +15.2%
• By 2050: 388,414 · +23.9%
• By 2075: 452,175 · +44.2%
• By 2100: 473,041 · +50.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 19% Two or more races 10% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 15% Puerto Rican 1% Cuban 1%
• Common ancestry: Iranian 29% Romanian 4% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 10% Other Asian/Pacific 1%

Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+20.4) · D 39.0% · R 59.5% · Other 1.5%
• 2008→2024 swing: +3.4pp toward D · 2008: -23.9pp · 2024: -20.4pp
• All cycles: 2024: R+20.4 2020: R+21.5 2016: R+30.4 2012: R+34.2 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -305.61%
• Current HPI: 252.0602
• Rent YoY: ▲ 10.00%
• Metro: Holland, 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

+211.6% since first listed

24 events — show timeline

• 2026-05-22 Pending — REALCOMP
• 2026-05-22 Pending — MiRealSource-MiMLS
• 2026-05-22 Pending — SW Michigan MLS
• 2026-05-19 Relisted — REALCOMP
• 2026-05-18 Relisted — MiRealSource-MiMLS
• 2026-05-18 Relisted — SW Michigan MLS
• 2026-05-10 Pending — REALCOMP
• 2026-05-10 Pending — MiRealSource-MiMLS
• 2026-05-10 Pending — SW Michigan MLS
• 2026-05-07 Listed $139,900 SW Michigan MLS
• 2026-05-07 Listed $139,900 MiRealSource-MiMLS
• 2026-05-07 Listed $139,900 REALCOMP
• 2012-02-08 Sold (MLS) $52,667 REALCOMP
• 2012-02-08 Sold (MLS) $52,667 SW Michigan MLS
• 2011-09-01 Listed $59,000 REALCOMP
• 2011-09-01 Listed $59,000 SW Michigan MLS
• 1997-07-29 Sold (MLS) $60,000 REALCOMP
• 1997-07-29 Sold (MLS) $60,000 SW Michigan MLS
• 1997-03-31 Listed $63,900 REALCOMP
• 1997-03-31 Listed $63,900 SW Michigan MLS
• 1994-08-29 Sold (MLS) $42,000 REALCOMP
• 1994-08-29 Sold (MLS) $42,000 SW Michigan MLS
• 1994-01-24 Listed $44,900 REALCOMP
• 1994-01-24 Listed $44,900 SW Michigan MLS

Property tax history

-8.7%/yr

Latest (2025): $1,660 · +3.0% YoY. Source: county tax records.