2967 Englewood Ave SE · Grand Rapids, MI 49508

$195,000

3 bd · 2.0 ba · 1,782 sqft · Townhouse · 59 Days on market

Built 1988 Good condition 0.34 ac lot Garage $109/sqft · 25% below area Est $258k · 25% under $170/mo HOA · 7% of rent

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Why this score? — see what drove the C+ 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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +6.9/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Condition / age +3.8/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

An exciting opportunity for affordable homeownership awaits at Englewood Condominiums! This beautifully renovated three-bedroom, two-bathroom duplex-style condo offers approximately 1,600 square feet, washer and dryer hookups, backyard space and convenient garage parking. Enjoy a location close to 28th Street, public transportation, restaurants and major shopping destinations, including Meijer, Aldi and Woodland Mall. Offered through the Dwelling Place Community Land Trust, this home provides qualified buyers with the opportunity to purchase at a reduced price, build equity and enjoy long-term housing stability. The land is retained by the Community Land Trust and conveyed through a ground lease. Buyers must satisfy income and program eligibility requirements, complete approved homebuyer education, obtain mortgage preapproval and receive Community Land Trust approval.

Key facts

• Backyard space
• Restaurants
• $170 HOA

Tags

• BACKYARD SPACE
• CONVENIENT GARAGE PARKING
• LOCATION CLOSE TO 28TH STREET
• PUBLIC TRANSPORTATION
• RESTAURANTS
• MAJOR SHOPPING DESTINATIONS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $195k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $317 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: Alger Middle School (math 2% / reading 12%, grade F, #481 of 493 statewide, top 98%, 342 students, 95% FRL); City Middlehigh (math 65% / reading 88%, grade A-, #16 of 713 statewide, top 2%, 908 students, 40% FRL).
• Zoned-school proficiency averages 42% at this address vs 22% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Grand Rapids Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.6%/yr); 226 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 47d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 40% 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 $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $55k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Recommended offer $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.19% ✓
• Cap rate: 8.25%
• Cash-on-cash: 6.98%
• DSCR: 1.31
• GRM: 7.0

CMA / ARV

• ARV (median comp): $258,312
• List price: $195,000
• Delta: -24.51%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3288 Cambridge St SE #9	1.08mi	3/2.0	1,696 (-5%)	1mo	$250,000	$147	56
2253 Edington Dr SE	0.86mi	2/3.0 (-1)	1,898 (+6%)	4mo	$286,000	$151	42
3569 Whispering Brook Dr SE #33	0.76mi	3/1.5	1,934 (+8%)	10mo	$245,000	$127	40
3272 Cambridge St SE	1.11mi	2/2.0 (-1)	1,653 (-7%)	13mo	$215,000	$130	37
2237 Edington Dr SE #118	0.87mi	3/3.0	1,900 (+7%)	18mo	$275,000	$145	35
3570 Whispering Brook Dr SE #50	0.84mi	2/1.5 (-1)	1,433 (-20%)	15mo	$225,000	$157	21

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 · 5.64% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-4,912
• Equity at exit: $29,075

10-year hold

• IRR: 10.3%
• Equity multiple: 1.91×
• Total profit: $49,750
• Equity at exit: $16,860

Cash invested: $54,600 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 6 active · 5 under contract
• Months of supply: 36.0 mo (3%/mo absorbed)
• Median asking: $195,000 ($109/sqft)
• Median days on market: 59 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +32.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 49508

• Rents YoY: 5.6%
• Active inventory: 226
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,323 high
• Mortgage (P&I): −$1,023
• Tax est. 1.5%: −$244 /mo · $2,925/yr
• Insurance: −$81
• HOA: −$170
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $317

Break-even live

Break-even rent $1,921

Max offer price $195,000

Occupancy floor 81%

Sensitivity live

Price	-10% $452	-5% $385	+0% $317	+5% $250	+10% $183
Rent	-10% $134	-5% $226	+0% $317	+5% $409	+10% $501
Rate	-1.0pp $416	-0.5pp $367	base $317	+0.5pp $267	+1.0pp $215

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: $48,750
• Closing costs: $5,850
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2121 Shangrai La Dr SE Grand Rapids, MI	3.0	2.0	1500	$2,150	$1.43	46d	1	0.10mi
2631 Woodmeadow Dr SE Grand Rapids, MI	3.0	2.0	1500	$1,925	$1.28	32d	1	0.81mi
2148 Omena Dr SE Grand Rapids, MI	4.0	3.0	2200	$3,450	$1.57	41d	1	0.99mi
3454 Brooklyn Ave SE Grand Rapids, MI	3.0	2.0	1232	$1,900	$1.54	59d	1	1.26mi
2859 Bransford Dr SE Grand Rapids, MI	4.0	2.0	1667	$2,625	$1.57	59d	1	1.28mi

Property features AI

Finance

• HOA & community: Association fee $170 monthlyAssociation handles snow removal and lawn/yard care

Exterior

• Parking: Attached garage (1 car)
• Utilities: Natural gas available
• Home design: Ranch-style condominiumBuilt in 1988
• Construction: Brick and vinyl siding construction
• Exterior features: Paved road accessPublic water

Interior

• Kitchen: RangeMicrowaveRefrigeratorDishwasher
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Total of 4 roomsFull basement
• Laundry & utility: WasherDryer

Listing history 44 events

1. 2026-08-08
   days on market $195,000 Active 59 DOM
2. 2026-08-07
   days on market $195,000 Active 58 DOM
3. 2026-08-06
   days on market $195,000 Active 57 DOM
4. 2026-08-05
   days on market $195,000 Active 56 DOM
5. 2026-08-04
   days on market $195,000 Active 55 DOM
6. 2026-08-03
   days on market $195,000 Active 54 DOM
7. 2026-07-31
   days on market $195,000 Active 51 DOM
8. 2026-07-30
   days on market $195,000 Active 49 DOM
9. 2026-07-28
   days on market $195,000 Active 48 DOM
10. 2026-07-26
    days on market $195,000 Active 46 DOM
11. 2026-07-25
    days on market $195,000 Active 45 DOM
12. 2026-07-24
    days on market $195,000 Active 44 DOM
13. 2026-07-23
    days on market $195,000 Active 43 DOM
14. 2026-07-22
    days on market $195,000 Active 42 DOM
15. 2026-07-21
    days on market $195,000 Active 41 DOM
16. 2026-07-18
    days on market $195,000 Active 38 DOM
17. 2026-07-16
    days on market $195,000 Active 36 DOM
18. 2026-07-14
    days on market $195,000 Active 34 DOM
19. 2026-07-13
    days on market $195,000 Active 33 DOM
20. 2026-07-12
    days on market $195,000 Active 32 DOM
21. 2026-07-11
    days on market $195,000 Active 31 DOM
22. 2026-07-10
    days on market $195,000 Active 30 DOM
23. 2026-07-09
    days on market $195,000 Active 29 DOM
24. 2026-07-07
    days on market $195,000 Active 27 DOM
25. 2026-07-06
    days on market $195,000 Active 26 DOM
26. 2026-07-05
    days on market $195,000 Active 25 DOM
27. 2026-07-03
    days on market $195,000 Active 23 DOM
28. 2026-07-02
    days on market $195,000 Active 22 DOM
29. 2026-07-01
    days on market $195,000 Active 21 DOM
30. 2026-06-30
    days on market $195,000 Active 20 DOM
31. 2026-06-29
    days on market $195,000 Active 19 DOM
32. 2026-06-28
    days on market $195,000 Active 18 DOM
33. 2026-06-28
    days on market $195,000 Active 17 DOM
34. 2026-06-27
    days on market $195,000 Active 16 DOM
35. 2026-06-25
    days on market $195,000 Active 14 DOM
36. 2026-06-23
    days on market $195,000 Active 12 DOM
37. 2026-06-21
    days on market $195,000 Active 11 DOM
38. 2026-06-18
    days on market $195,000 Active 8 DOM
39. 2026-06-17
    days on market $195,000 Active 7 DOM
40. 2026-06-16
    days on market $195,000 Active 6 DOM
41. 2026-06-15
    days on market $195,000 Active 5 DOM
42. 2026-06-14
    days on market $195,000 Active 3 DOM
43. 2026-06-13
    remarks 699-char remark
44. 2026-06-13
    listed $195,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $27,873
• − Mortgage interest: −$10,923
• − Property taxes: −$2,925
• − Insurance: −$975
• − Repairs & maintenance: −$2,230
• − Management: −$2,230
• − HOA: −$2,040
• − Depreciation: −$5,673
• Taxable income: $878
• Est. tax owed @ 24.0%: −$211
• After-tax cash flow: $3,598/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.

Condition & rehab AI · 6 photos

Good 75/100 Cosmetic rehab Est. rehab $8,910–$26,730 screening

This well-maintained, updated townhouse is ready for new owners. Minor exterior touch-ups and flooring updates would significantly enhance its curb appeal and rental value.

Value-add opportunities

• Both paint exterior — enhances curb appeal and resale value ↑
• Both update flooring in living areas — improves aesthetics and rental appeal ↑
• Both install smart home devices — increases home's marketability and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 10/100

Zoned Schools

Elementary Sherwood Global Studies Academy F MI #1,203/1,397 Nat'l #37,719/41,679 Middle Alger Middle School F MI #481/493 Nat'l #13,663/14,009 High Ottawa Hills High School F MI #659/713 Nat'l #15,975/17,239

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

A Composite livability gradescore 83/100

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 · 712,484 people
• City population: 181,325
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 42,720
• Household income: $70,120
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 16% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 48% Black 24% Two or more races 12% Hispanic / Latino 11% Asian 10%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 15% Romanian 3% Swiss 3%
• Foreign-born: 19% · Canada, Philippines, India
• Languages at home: 75% English-only · Spanish 7% Other Indo-European 4% Other Asian/Pacific 3%

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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: ▼ -153.47%
• Current HPI: 274.2591
• Rent YoY: ▲ 5.64%
• Metro: Grand Rapids-Kentwood, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

Property features AI

Finance

• HOA & community: Association fee $170 monthlyAssociation handles snow removal and lawn/yard care

Exterior

• Parking: Attached garage (1 car)
• Utilities: Natural gas available
• Home design: Ranch-style condominiumBuilt in 1988
• Construction: Brick and vinyl siding construction
• Exterior features: Paved road accessPublic water

Interior

• Kitchen: RangeMicrowaveRefrigeratorDishwasher
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Total of 4 roomsFull basement
• Laundry & utility: WasherDryer

Price history

+0.0% since first listed

3 events — show timeline

• 2026-06-08 Listed $195,000 MiRealSource-MiMLS
• 2026-06-08 Listed $195,000 REALCOMP
• 2026-06-08 Listed $195,000 SW Michigan MLS