2147 Plainfield Ave NE · Grand Rapids, MI 49505

$199,900

4 bd · 2.0 ba · 1,302 sqft · SingleFamily public records · 13 Days on market

Built 1900 6,621 sqft lot $154/sqft · 6% below area Est $297k · 33% under ↓ 26% since listing

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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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +7.0/10.0
• Livability +4.2/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A spacious 4-bedroom, 2-bath home in Northeast Grand Rapids offering flexibility, value, and opportunity in today's market. Recently refreshed with new paint and light updates, the home features multiple living areas and a layout that adapts to your needs. Whether you're looking for extra space, room for extended living, or exploring house hack potential, this property gives you options. The unique floor plan creates separation between living spaces ideal for privacy, flexibility, or future possibilities. Outside, enjoy your own driveway and off-street parking and a nice-sized backyard, all in a location close to shopping, dining, and major highways for an easy commute. If you're looking for space, versatility, and value in NE Grand Rapids, this is one you don't want to miss.

Key facts

• Unique floor plan
• Nice-sized backyard
• Off-street parking

Tags

• MULTIPLE LIVING AREAS
• UNIQUE FLOOR PLAN
• OFF-STREET PARKING
• NICE-SIZED BACKYARD
• LOCATION CLOSE TO SHOPPING
• LOCATION CLOSE TO DINING

Property features AI

Exterior

• Utilities: Public water; Natural gas available and connected; Electricity available; Natural gas water heater
• Home design: Traditional style single-family home; Built in 1900
• Construction: Vinyl siding; Shingle roof
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Radiant heating
• Interior features: Pantry; Full basement; 8 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $578 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 9.8% 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: Aberdeen Academy (math 12% / reading 22%, grade F, #1,149 of 1,397 statewide, top 84%, 234 students, 77% 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 fast (+4.5%/yr); 149 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 38% of the median local income ($75k/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 + 4.5% rent growth), your $56k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1900 — 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. 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.
5. 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.
6. 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: 1.20% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.40%
• DSCR: 1.55
• GRM: 7.0

CMA / ARV

• ARV (median comp): $297,095
• List price: $199,900
• Delta: -19.25%
• Verdict: UNDERPRICED
• Comps: 8 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.55% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.15×
• Total profit: $8,220
• Equity at exit: $29,806

10-year hold

• IRR: 14.6%
• Equity multiple: 2.26×
• Total profit: $70,605
• Equity at exit: $17,284

Cash invested: $55,972 (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 49505

• Rents YoY: 4.5%
• Active inventory: 149
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,393 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$181 /mo · $2,168/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $578

Break-even live

Break-even rent $1,661

Max offer price $199,900

Occupancy floor 71%

Sensitivity live

Price	-10% $691	-5% $635	+0% $578	+5% $522	+10% $465
Rent	-10% $389	-5% $484	+0% $578	+5% $673	+10% $767
Rate	-1.0pp $679	-0.5pp $629	base $578	+0.5pp $526	+1.0pp $474

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138 Travis St NE Grand Rapids, MI	4.0	2.0	1800	$2,395	$1.33	13d	1	0.80mi
50 Mathews Ct NE Grand Rapids, MI	3.0	1.5	1100	$1,850	$1.68	45d	1	1.03mi
135 Page St NE Grand Rapids, MI	3.0	2.0	1100	$3,100	$2.82	45d	1	1.18mi
1300 3 Mile Rd NE Grand Rapids, MI	1.0–3.0	1.5–2.5	1270	$2,705	$2.13	4d	1	1.18mi
3075 Plainfield Ave NE Grand Rapids, MI	3.0	2.0	1652	$1,895	$1.15	23d	1	1.35mi
3101 Plainfield Ave NE Grand Rapids, MI	3.0	2.0	1305	$1,795	$1.38	4d	1	1.39mi

Listing history 16 events

1. 2026-06-14
   statusdays on market $199,900 Pending 13 DOM

   Show marketing remark (786 chars)

   A spacious 4-bedroom, 2-bath home in Northeast Grand Rapids offering flexibility, value, and opportunity in today's market. Recently refreshed with new paint and light updates, the home features multiple living areas and a layout that adapts to your needs. Whether you're looking for extra space, room for extended living, or exploring house hack potential, this property gives you options. The unique floor plan creates separation between living spaces ideal for privacy, flexibility, or future possibilities. Outside, enjoy your own driveway and off-street parking and a nice-sized backyard, all in a location close to shopping, dining, and major highways for an easy commute. If you're looking for space, versatility, and value in NE Grand Rapids, this is one you don't want to miss.

2. 2026-06-13
   days on market $199,900 Active 12 DOM

   Show marketing remark (786 chars)

   A spacious 4-bedroom, 2-bath home in Northeast Grand Rapids offering flexibility, value, and opportunity in today's market. Recently refreshed with new paint and light updates, the home features multiple living areas and a layout that adapts to your needs. Whether you're looking for extra space, room for extended living, or exploring house hack potential, this property gives you options. The unique floor plan creates separation between living spaces ideal for privacy, flexibility, or future possibilities. Outside, enjoy your own driveway and off-street parking and a nice-sized backyard, all in a location close to shopping, dining, and major highways for an easy commute. If you're looking for space, versatility, and value in NE Grand Rapids, this is one you don't want to miss.

3. 2026-06-10
   days on market $199,900 Active 10 DOM
4. 2026-06-09
   days on market $199,900 Active 9 DOM
5. 2026-06-08
   days on market $199,900 Active 8 DOM
6. 2026-06-07
   days on market $199,900 Active 7 DOM
7. 2026-06-05
   days on market $199,900 Active 4 DOM
8. 2026-06-03
   days on market $199,900 Active 3 DOM
9. 2026-06-03
   days on market $199,900 Active 2 DOM
10. 2026-05-31
    pricestatusdays on marketlisting id $199,900 Active 1 DOM

    Show marketing remark (786 chars)

    A spacious 4-bedroom, 2-bath home in Northeast Grand Rapids offering flexibility, value, and opportunity in today's market. Recently refreshed with new paint and light updates, the home features multiple living areas and a layout that adapts to your needs. Whether you're looking for extra space, room for extended living, or exploring house hack potential, this property gives you options. The unique floor plan creates separation between living spaces ideal for privacy, flexibility, or future possibilities. Outside, enjoy your own driveway and off-street parking and a nice-sized backyard, all in a location close to shopping, dining, and major highways for an easy commute. If you're looking for space, versatility, and value in NE Grand Rapids, this is one you don't want to miss.

11. 2026-05-09
    price $239,900 764-char remark
12. 2026-05-08
    price $239,900 1162-char remark
13. 2026-05-08
    price $239,900
14. 2026-05-02
    listed $269,900 Active 764-char remark
15. 2026-05-02
    listed $269,900 Active 1162-char remark
16. 2026-05-02
    listed $269,900 Active

ⓘ 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: $2,168 · $181/mo
• Projected year-2 tax: $2,623 · $219/mo
• Expected delta: +$455/yr (+$38/mo · 21.0%)

ⓘ 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 3/10 Moderate 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: $28,717
• − Mortgage interest: −$11,198
• − Property taxes: −$2,168
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,297
• − Management: −$2,297
• − Depreciation: −$5,815
• Taxable income: $3,942
• Est. tax owed @ 24.0%: −$946
• After-tax cash flow: $5,993/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): 32,426
• Household income: $74,906
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1330.0

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 (68%)
• Race & ethnicity: White 68% Black 14% Two or more races 11% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Iranian 12% Romanian 8% Italian 3%
• Foreign-born: 6% · Canada, China, Vietnam
• Languages at home: 92% English-only · Spanish 3% Chinese 1% 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: ▼ -324.57%
• Current HPI: 306.797
• Rent YoY: ▲ 4.55%
• 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

-25.9% since first listed

15 events — show timeline

• 2026-06-14 Pending — REALCOMP
• 2026-06-13 Pending — MiRealSource-MiMLS
• 2026-06-13 Pending — SW Michigan MLS
• 2026-05-31 Listed $199,900 REALCOMP
• 2026-05-31 Listed $199,900 SW Michigan MLS
• 2026-05-31 Listed $199,900 MiRealSource-MiMLS
• 2026-05-22 Pending — MiRealSource-MiMLS
• 2026-05-22 Pending — REALCOMP
• 2026-05-21 Listing Removed — REALCOMP
• 2026-05-21 Listing Removed — MiRealSource-MiMLS
• 2026-05-09 Price Changed $239,900 MiRealSource-MiMLS
• 2026-05-08 Price Changed $239,900 REALCOMP
• 2026-05-08 Price Changed $239,900 SW Michigan MLS
• 2026-05-02 Listed $269,900 REALCOMP
• 2026-05-02 Listed $269,900 MiRealSource-MiMLS

Property tax history

+1.8%/yr

Latest (2025): $2,168 · +2.7% YoY. Source: county tax records.