2687 Dunnigan Ave NE · Grand Rapids, MI 49525

$379,000

4 bd · 2.5 ba · 1,630 sqft · SingleFamily · 7 Days on market

Built 1950 1.33 ac lot $233/sqft · at area comps Est $380k · at est.

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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 +11.8/30.0
• ARV discount +7.6/15.0
• Schools +6.3/10.0
• Livability +4.2/5.0
• DSCR +3.5/10.0
• Rent growth +3.1/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to beautiful updated 2687 Dunnigan Ave. This inviting 4 bedroom, 2.5 bath home with close proximity to all of what Grand Rapids has to offer paired with a spacious lot in Forest Hills school district, offers an attractive find in today's Grand Rapids market. The newly updated kitchen features sleek quartz counter-tops and ample prep space, ideal for everyday meals or entertaining friends and guests. The home offers a newer roof and a recently replaced furnace, giving you peace of mind and comfort year round. With 2.5 baths, there's room to spare, perfect for roommates or hosting overnight guests. Schedule your showing today.

Key facts

• Quartz counter-tops
• Newer roof
• Spacious lot

Tags

• UPDATED KITCHEN
• QUARTZ COUNTER-TOPS
• SPACIOUS LOT
• NEWER ROOF
• RECENTLY REPLACED FURNACE

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Well water; Natural gas connected; Natural gas water heater
• Home design: Single family residence; Residential property
• Construction: Built in 1950; Vinyl siding; Composition roof; Slab basement
• Exterior features: Wooded lot

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Eat-in kitchen
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Fireplace; Total of 10 rooms
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $379k.

Deal economics

• At list price, monthly cash flow is $-104 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $361k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $288k (24.0% below list).
• Recommended offer: $288k (24.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• Forest Hills Public Schools (suburban): math 65% / reading 74% proficiency, ranked #11 of 540 in MI (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: Knapp Forest Elementary School (math 75% / reading 78%, grade A, #33 of 1,397 statewide, top 2%, 572 students, 8% FRL); Eastern Middle School (math 69% / reading 81%, grade A, #8 of 493 statewide, top 3%, 552 students, 14% FRL); Eastern High School (math 67% / reading 82%, grade B+, #19 of 713 statewide, top 3%, 802 students, 15% FRL) — zoned schools at 12% FRL track the district average.
• Market conditions: Rents rising (+2.2%/yr); 165 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).
• This rent runs 37% of the median local income ($94k/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 $3k of loan paydown is wiped out by about $11k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 24 sale attempts since 25y 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 $124k; list at $379k implies a 206% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $288,112 (24.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1950 — 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: 0.76% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.18%
• DSCR: 0.95
• GRM: 11.0

CMA / ARV

• ARV (median comp): $380,194
• List price: $379,000
• Delta: 5.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2698 Dunnigan Ave NE	0.13mi	4/2.0	1,478 (-9%)	11mo	$357,000	$242	67
2668 Johnathan Ave NE	0.57mi	4/1.5	1,683 (+3%)	1mo	$375,000	$223	63
2491 Dunnigan Ave NE	0.24mi	3/1.5 (-1)	1,466 (-10%)	14mo	$377,500	$258	51
2533 Greenings Ave NE	0.58mi	3/1.0 (-1)	1,607 (-1%)	16mo	$315,000	$196	46
3136 3 Mile Rd NE	0.32mi	3/1.5 (-1)	1,446 (-11%)	21mo	$382,500	$265	39
2820 Johnathan Ct NE	0.66mi	3/1.0 (-1)	1,679 (+3%)	20mo	$330,000	$197	37
2500 Appleton Dr NE	0.46mi	3/2.0 (-1)	1,415 (-13%)	22mo	$340,000	$240	31

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 · 2.21% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.34×
• Total profit: $-70,415
• Equity at exit: $56,510

10-year hold

• IRR: -13.3%
• Equity multiple: 0.25×
• Total profit: $-79,443
• Equity at exit: $32,769

Cash invested: $106,120 (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 49525

• Rents YoY: 2.2%
• Active inventory: 165
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,881 medium
• Mortgage (P&I): −$1,988
• Tax from tax record: −$235 /mo · $2,816/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$605
• Net cashflow: $-104

Break-even live

Break-even rent $3,013

Max offer price $360,626

Occupancy floor 99%

Sensitivity live

Price	-10% $111	-5% $3	+0% $-104	+5% $-211	+10% $-319
Rent	-10% $-332	-5% $-218	+0% $-104	+5% $10	+10% $124
Rate	-1.0pp $87	-0.5pp $-8	base $-104	+0.5pp $-202	+1.0pp $-302

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: $94,750
• Closing costs: $11,370
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3300 E Beltline Ave NE Grand Rapids, MI	2.0–3.0	2.5	1446	$2,945	$2.04	4d	3	0.91mi
3240 Killian St Grand Rapids Twp, MI	1.0–3.0	1.0–2.0	1143	$3,090	$2.70	45d	17	1.14mi
3240 Killian St Grand Rapids Twp, MI	1.0–3.0	1.0–2.0	1145	$3,055	$2.67	4d	13	1.14mi

Listing history 50 events

1. 2026-06-15
   status $379,000 Pending 7 DOM

   Show marketing remark (640 chars)

   Welcome to beautiful updated 2687 Dunnigan Ave. This inviting 4 bedroom, 2.5 bath home with close proximity to all of what Grand Rapids has to offer paired with a spacious lot in Forest Hills school district, offers an attractive find in today's Grand Rapids market. The newly updated kitchen features sleek quartz counter-tops and ample prep space, ideal for everyday meals or entertaining friends and guests. The home offers a newer roof and a recently replaced furnace, giving you peace of mind and comfort year round. With 2.5 baths, there's room to spare, perfect for roommates or hosting overnight guests. Schedule your showing today.

2. 2026-06-15
   days on market $379,000 Active 7 DOM

   Show marketing remark (640 chars)

   Welcome to beautiful updated 2687 Dunnigan Ave. This inviting 4 bedroom, 2.5 bath home with close proximity to all of what Grand Rapids has to offer paired with a spacious lot in Forest Hills school district, offers an attractive find in today's Grand Rapids market. The newly updated kitchen features sleek quartz counter-tops and ample prep space, ideal for everyday meals or entertaining friends and guests. The home offers a newer roof and a recently replaced furnace, giving you peace of mind and comfort year round. With 2.5 baths, there's room to spare, perfect for roommates or hosting overnight guests. Schedule your showing today.

3. 2026-06-14
   days on market $379,000 Active 5 DOM
4. 2026-06-10
   days on market $379,000 Active 2 DOM
5. 2026-06-09
   remarks 640-char remark
6. 2026-06-09
   pricestatusdays on marketlisting id $379,000 Active 1 DOM
7. 2026-05-19
   price $409,900 618-char remark
8. 2026-05-18
   status Active 619-char remark
9. 2026-05-18
   price $409,900 619-char remark
10. 2026-05-18
    price $409,900
11. 2026-05-18
    historical 619-char remark
12. 2026-05-05
    price $419,900 618-char remark
13. 2026-05-04
    price $419,900 619-char remark
14. 2026-05-04
    price $419,900
15. 2026-04-26
    listed $429,900 Active 619-char remark
16. 2026-04-26
    listed $429,900 Active 618-char remark
17. 2026-04-26
    listed $429,900 Active
18. 2026-03-31
    status Pending
19. 2026-03-27
    historical
20. 2026-03-26
    status Pending
21. 2026-03-26
    status Pending
22. 2026-03-26
    historical
23. 2026-03-26
    historical
24. 2026-03-05
    price $429,900
25. 2026-03-04
    price $429,900
26. 2026-03-04
    price $429,900
27. 2026-02-24
    status Active
28. 2026-02-24
    status Active
29. 2026-02-20
    status Pending
30. 2026-02-20
    status Pending
31. 2026-02-07
    price $439,900
32. 2026-02-06
    price $439,900
33. 2026-02-06
    price $439,900
34. 2026-01-29
    status Active
35. 2026-01-29
    status Active
36. 2026-01-29
    historical
37. 2026-01-29
    historical
38. 2026-01-27
    listed $449,900 Active
39. 2026-01-27
    listed $449,900 Active
40. 2025-12-27
    historical
41. 2025-12-26
    historical
42. 2025-12-02
    listed $449,900 Active
43. 2025-12-02
    listed $449,900 Active
44. 2020-08-27
    historical
45. 2020-08-26
    historical
46. 2020-08-26
    historical
47. 2020-07-17
    listed $265,000
48. 2020-07-17
    listed $265,000 Active
49. 2020-07-17
    listed $265,000
50. 2018-08-08
    soldstatus $123,687

ⓘ 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: $2,816 · $235/mo
• Projected year-2 tax: $4,326 · $361/mo
• Expected delta: +$1,510/yr (+$126/mo · 53.6%)

ⓘ 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: $34,573
• − Mortgage interest: −$21,230
• − Property taxes: −$2,816
• − Insurance: −$1,895
• − Repairs & maintenance: −$2,766
• − Management: −$2,766
• − Depreciation: −$11,025
• Taxable loss: −$7,925
• Est. tax savings @ 24.0%: +$1,902
• After-tax cash flow: $654/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: Forest Hills Public Schools
• NCES district ID: 2614610
• Math proficiency: 65% ▼ -3.00%
• Reading proficiency: 74% ▲ 1.00%
• Median HH income: $95,067
• Composite: 63.23/100
• National rank: #632
• State rank: #11 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

• County: Kent County · 533,805 people
• City population: 181,325
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 30,887
• Household income: $94,037
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 396.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 3% Asian 2%
• Common ancestry: Iranian 16% Romanian 8% Lithuanian 2%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 96% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -195.79%
• Current HPI: 256.0731
• Rent YoY: ▲ 2.21%
• 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

+279.0% since first listed

71 events — show timeline

• 2026-06-15 Pending — REALCOMP
• 2026-06-15 Pending — MiRealSource-MiMLS
• 2026-06-15 Pending — SW Michigan MLS
• 2026-06-08 Listed $379,000 SW Michigan MLS
• 2026-06-08 Listed $379,000 MiRealSource-MiMLS
• 2026-06-08 Listed $379,000 REALCOMP
• 2026-05-27 Pending — REALCOMP
• 2026-05-26 Pending — MiRealSource-MiMLS
• 2026-05-25 Listing Removed — MiRealSource-MiMLS
• 2026-05-25 Listing Removed — REALCOMP
• 2026-05-22 Price Changed $399,900 MiRealSource-MiMLS
• 2026-05-21 Price Changed $399,900 REALCOMP
• 2026-05-21 Price Changed $399,900 SW Michigan MLS
• 2026-05-19 Price Changed $409,900 MiRealSource-MiMLS
• 2026-05-18 Relisted — REALCOMP
• 2026-05-18 Price Changed $409,900 REALCOMP
• 2026-05-18 Price Changed $409,900 SW Michigan MLS
• 2026-05-18 Listing Removed — REALCOMP
• 2026-05-05 Price Changed $419,900 MiRealSource-MiMLS
• 2026-05-04 Price Changed $419,900 REALCOMP
• 2026-05-04 Price Changed $419,900 SW Michigan MLS
• 2026-04-26 Listed $429,900 REALCOMP
• 2026-04-26 Listed $429,900 MiRealSource-MiMLS
• 2026-03-31 Pending — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2026-03-26 Pending — REALCOMP
• 2026-03-26 Pending — MiRealSource-MiMLS
• 2026-03-26 Listing Removed — REALCOMP
• 2026-03-26 Listing Removed — MiRealSource-MiMLS
• 2026-03-05 Price Changed $429,900 MiRealSource-MiMLS
• 2026-03-04 Price Changed $429,900 REALCOMP
• 2026-03-04 Price Changed $429,900 SW Michigan MLS
• 2026-02-24 Relisted — REALCOMP
• 2026-02-24 Relisted — MiRealSource-MiMLS
• 2026-02-20 Pending — REALCOMP
• 2026-02-20 Pending — MiRealSource-MiMLS
• 2026-02-07 Price Changed $439,900 MiRealSource-MiMLS
• 2026-02-06 Price Changed $439,900 REALCOMP
• 2026-02-06 Price Changed $439,900 SW Michigan MLS
• 2026-01-29 Relisted — MiRealSource-MiMLS
• 2026-01-29 Relisted — REALCOMP
• 2026-01-29 Listing Removed — REALCOMP
• 2026-01-29 Listing Removed — MiRealSource-MiMLS
• 2026-01-27 Listed $449,900 REALCOMP
• 2026-01-27 Listed $449,900 MiRealSource-MiMLS
• 2025-12-27 Listing Removed — MiRealSource-MiMLS
• 2025-12-26 Listing Removed — REALCOMP
• 2025-12-02 Listed $449,900 REALCOMP
• 2025-12-02 Listed $449,900 MiRealSource-MiMLS
• 2020-08-27 Listing Removed — SW Michigan MLS
• 2020-08-26 Listing Removed — MiRealSource-MiMLS
• 2020-08-26 Listing Removed — REALCOMP
• 2020-07-17 Listed $265,000 MiRealSource-MiMLS
• 2020-07-17 Listed $265,000 SW Michigan MLS
• 2020-07-17 Listed $265,000 REALCOMP
• 2018-08-08 Sold (Public Records) $220,000 Public Records
• 2018-08-08 Sold (Public Records) $123,687 Public Records
• 2018-07-30 Sold (MLS) $220,000 SW Michigan MLS
• 2018-07-30 Sold (MLS) $220,000 REALCOMP
• 2018-06-19 Pending — SW Michigan MLS
• 2018-06-13 Listed $200,000 MiRealSource-MiMLS
• 2018-06-13 Listed $200,000 SW Michigan MLS
• 2018-06-13 Listed $200,000 REALCOMP
• 2002-05-30 Sold (MLS) $159,000 REALCOMP
• 2002-05-30 Sold (MLS) $159,000 SW Michigan MLS
• 2002-04-19 Listed $159,900 REALCOMP
• 2002-04-19 Listed $159,900 SW Michigan MLS
• 2001-03-21 Sold (MLS) $91,000 REALCOMP
• 2001-03-21 Sold (MLS) $91,000 SW Michigan MLS
• 2001-01-11 Listed $100,000 REALCOMP
• 2001-01-11 Listed $100,000 SW Michigan MLS

Property tax history

+8.0%/yr

Latest (2025): $2,816 · +2.6% YoY. Source: county tax records.