2057 Lake St Unit 6H · Park, MI 49424

$62,500

2 bd · 2.5 ba · 1,424 sqft · Condo · 74 Days on market

Built 2005 Good condition $417/mo HOA · 23% of rent ↓ 4% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Rent growth +3.8/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to The Savannah, a fractionally owned vacation property at The Beach House at Lake Street. Enjoy 5 weeks at The Beach House each year as a fractional owner. Located in walking distance to Lake Michigan, this unique townhome features 2 bedrooms, 2.5 bathrooms, and a loft along with two spacious living rooms and kitchen. Shared property amenities include a heated saltwater swimming pool and spa, basketball and shuffleboard court, community patio and grill, private patio with grill, private garage space and wi-fi. Fractional ownership also includes use of facilities and golf at Macatawa Legends Golf Course. Make this your yearly Holland destination today!

Key facts

• Private garage space
• $417 HOA
• Garage

Tags

• HEATED SALTWATER SWIMMING POOL
• PRIVATE PATIO WITH GRILL
• PRIVATE GARAGE SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $62k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $62k).
• Recommended offer: $59k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• West Ottawa Public School District (suburban): math 37% / reading 52% proficiency, ranked #140 of 540 in MI (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.1%/yr); 343 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,237 units permitted in Ottawa County in 2024 (443 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $432 of loan paydown is wiped out by about $2k 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 + 5.1% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.

Recommended offer $58,750 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.95% ✓
• Cap rate: 18.00%
• Cash-on-cash: 41.81%
• DSCR: 2.86
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.08% rent growth · sell at horizon

5-year hold

• IRR: 41.9%
• Equity multiple: 2.88×
• Total profit: $32,934
• Equity at exit: $9,319

10-year hold

• IRR: 49.5%
• Equity multiple: 6.53×
• Total profit: $96,726
• Equity at exit: $5,404

Cash invested: $17,500 (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 49424

• Rents YoY: 5.1%
• Active inventory: 343
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,846 medium
• Mortgage (P&I): −$328
• Tax est. 1.5%: −$78 /mo · $938/yr
• Insurance: −$26
• HOA: −$417
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $610

Break-even live

Break-even rent $1,075

Max offer price $62,500

Occupancy floor 62%

Sensitivity live

Price	-10% $653	-5% $631	+0% $610	+5% $588	+10% $567
Rent	-10% $464	-5% $537	+0% $610	+5% $683	+10% $756
Rate	-1.0pp $641	-0.5pp $626	base $610	+0.5pp $594	+1.0pp $577

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 Crest Dr Holland, MI	3.0	2.0	1500	$1,600	$1.07	3d	1	0.82mi
2000 W 32nd St Holland, MI	2.0	1.0	1026	$2,399	$2.34	44d	1	1.07mi
1500 Ottawa Beach Rd Holland, MI	1.0–3.0	1.0–2.0	741	$1,575	$2.13	3d	9	1.37mi

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Likely covers: waterinternetpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-03-13
   listed $62,500 Active 669-char remark

   Show marketing remark (668 chars)

   Welcome to The Savannah, a fractionally owned vacation property at The Beach House at Lake Street. Enjoy 5 weeks at The Beach House each year as a fractional owner. Located in walking distance to Lake Michigan, this unique townhome features 2 bedrooms, 2.5 bathrooms, and a loft along with two spacious living rooms and kitchen. Shared property amenities include a heated saltwater swimming pool and spa, basketball and shuffleboard court, community patio and grill, private patio with grill, private garage space and wi-fi. Fractional ownership also includes use of facilities and golf at Macatawa Legends Golf Course. Make this your yearly Holland destination today!

2. 2026-03-13
   listed $62,500 Active 668-char remark

   Show marketing remark (668 chars)

   Welcome to The Savannah, a fractionally owned vacation property at The Beach House at Lake Street. Enjoy 5 weeks at The Beach House each year as a fractional owner. Located in walking distance to Lake Michigan, this unique townhome features 2 bedrooms, 2.5 bathrooms, and a loft along with two spacious living rooms and kitchen. Shared property amenities include a heated saltwater swimming pool and spa, basketball and shuffleboard court, community patio and grill, private patio with grill, private garage space and wi-fi. Fractional ownership also includes use of facilities and golf at Macatawa Legends Golf Course. Make this your yearly Holland destination today!

3. 2026-03-13
   listed $62,500 Active

   Show marketing remark (668 chars)

   Welcome to The Savannah, a fractionally owned vacation property at The Beach House at Lake Street. Enjoy 5 weeks at The Beach House each year as a fractional owner. Located in walking distance to Lake Michigan, this unique townhome features 2 bedrooms, 2.5 bathrooms, and a loft along with two spacious living rooms and kitchen. Shared property amenities include a heated saltwater swimming pool and spa, basketball and shuffleboard court, community patio and grill, private patio with grill, private garage space and wi-fi. Fractional ownership also includes use of facilities and golf at Macatawa Legends Golf Course. Make this your yearly Holland destination today!

4. 2021-09-29
   soldstatus $62,500 Sold
5. 2021-09-29
   soldstatus $62,500 Sold
6. 2021-09-15
   status Pending
7. 2021-09-15
   status Pending
8. 2021-05-14
   listed $65,000 Active
9. 2021-05-14
   listed $65,000 Active
10. 2021-05-14
    listed $65,000

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

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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,157
• − Mortgage interest: −$3,501
• − Property taxes: −$938
• − Insurance: −$312
• − Repairs & maintenance: −$1,773
• − Management: −$1,773
• − HOA: −$5,004
• − Depreciation: −$1,818
• Taxable income: $7,038
• Est. tax owed @ 24.0%: −$1,689
• After-tax cash flow: $5,627/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 · 12 photos

Good 80/100 Cosmetic rehab

This well-maintained, move-in-ready townhome is ideal for both resale and rental due to its location, shared amenities, and modern features.

Value-add opportunities

• Both Landscaping improvements — Enhance curb appeal and attract more visitors
• Both Pool cleaning services — Maintain pool cleanliness and safety

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhance curb appeal and attract more visitors ↑
• Both Pool cleaning services — Maintain pool cleanliness and safety ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: West Ottawa Public School District
• NCES district ID: 2635910
• Math proficiency: 37% ▼ -4.00%
• Reading proficiency: 52% ▼ -4.00%
• Median HH income: $58,127
• Composite: 38.94/100
• National rank: #4087
• State rank: #140 of 540 in MI

Livability — Park

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Ottawa County · 144,142 people
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 49,810
• Household income: $85,478
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 864.0

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 (65%)
• Race & ethnicity: White 65% Hispanic / Latino 25% Two or more races 10% Asian 6% Black 1%
• Hispanic origin (detail): Mexican 19% Puerto Rican 1%
• Common ancestry: Iranian 22% Romanian 3% Lithuanian 2%
• Foreign-born: 11% · Canada, Vietnam, South Korea
• Languages at home: 80% English-only · Spanish 15% Other Asian/Pacific 3% Vietnamese 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: ▼ -240.90%
• Current HPI: 252.5142
• Rent YoY: ▲ 5.08%
• 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

-3.8% since first listed

10 events — show timeline

• 2026-03-13 Listed $62,500 REALCOMP
• 2026-03-13 Listed $62,500 MiRealSource-MiMLS
• 2026-03-13 Listed $62,500 SW Michigan MLS
• 2021-09-29 Sold (MLS) $62,500 SW Michigan MLS
• 2021-09-29 Sold (MLS) $62,500 REALCOMP
• 2021-09-15 Pending — REALCOMP
• 2021-09-15 Pending — SW Michigan MLS
• 2021-05-14 Listed $65,000 MiRealSource-MiMLS
• 2021-05-14 Listed $65,000 SW Michigan MLS
• 2021-05-14 Listed $65,000 REALCOMP