608 10 Mile Rd NW · Sparta, MI 49345

$249,900

3 bd · 2.0 ba · 1,246 sqft · SingleFamily · 6 Days on market

Built 1987 1.25 ac lot $201/sqft · at area comps Est $262k · 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 +10.5/30.0
• ARV discount +9.6/15.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• DSCR +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2025 TV and AV are shown for informational purposes only. Sale is subject to Alpine Township Board of Trustees approval.

Key facts

• 1.25 acre lot
• 4 garage spots
• Built 1987

Property features AI

Exterior

• Parking: Detached garage; 4-car garage
• Utilities: Well water; Natural gas connected; Natural gas water heater
• Home design: Ranch-style single-family home; Residential property
• Construction: Built in 1987; Vinyl siding; Composition/Shingle roof; Full basement (foundation)
• Exterior features: 1.25-acre lot

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Primary bedroom; Two additional bedrooms
• Bathrooms: 1 full bathroom; 2 half bathrooms; Primary bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Full basement; 7 total rooms; Mud room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-127 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (25.7% below list).
• Recommended offer: $186k (25.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.5% in Sparta — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 80/100 on livability (#83 in MI, #1,786 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, employment D, commute F.
• Sparta Area Schools (town): math 33% / reading 47% proficiency, ranked #201 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 100 active listings in the ZIP; 2,253 units permitted in Kent County in 2024 (969 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $185,776 (25.7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.74% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.18%
• DSCR: 0.90
• GRM: 11.2

CMA / ARV

• ARV (median comp): $261,954
• List price: $249,900
• Delta: -4.60%
• Verdict: FAIR
• Comps: 12 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
608 10 Mile Rd NW	0.00mi	3/2.0	1,246 (0%)	1mo	$252,000	$202	99
8277 Alpine Ave NW	0.26mi	3/1.0	1,197 (-4%)	9mo	$340,000	$284	70
8158 Alpine Ave NW	0.37mi	3/1.0	1,343 (+8%)	16mo	$220,000	$164	53
8823 Alpine Ave NW	0.61mi	3/1.5	1,191 (-4%)	19mo	$247,000	$207	46
7855 Alpine Ave NW	0.73mi	3/1.5	1,092 (-12%)	10mo	$380,000	$348	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.9%
• Equity multiple: 0.31×
• Total profit: $-48,628
• Equity at exit: $37,261

10-year hold

• IRR: -12.9%
• Equity multiple: 0.24×
• Total profit: $-52,967
• Equity at exit: $21,607

Cash invested: $69,972 (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 49345

• Home prices YoY: -27.3%
• Active inventory: 100
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,858 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$180 /mo · $2,158/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $-127

Break-even live

Break-even rent $2,018

Max offer price $227,488

Occupancy floor —

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-12
   status Pending 120-char remark

   Show marketing remark (120 chars)

   2025 TV and AV are shown for informational purposes only. Sale is subject to Alpine Township Board of Trustees approval.

2. 2026-05-12
   status Pending 120-char remark

   Show marketing remark (120 chars)

   2025 TV and AV are shown for informational purposes only. Sale is subject to Alpine Township Board of Trustees approval.

3. 2026-05-12
   status Pending

   Show marketing remark (120 chars)

   2025 TV and AV are shown for informational purposes only. Sale is subject to Alpine Township Board of Trustees approval.

4. 2026-05-06
   listed $249,900 Active 120-char remark

   Show marketing remark (120 chars)

   2025 TV and AV are shown for informational purposes only. Sale is subject to Alpine Township Board of Trustees approval.

5. 2026-05-06
   listed $249,900 Active 120-char remark

   Show marketing remark (120 chars)

   2025 TV and AV are shown for informational purposes only. Sale is subject to Alpine Township Board of Trustees approval.

6. 2026-05-06
   listed $249,900 Active

   Show marketing remark (120 chars)

   2025 TV and AV are shown for informational purposes only. Sale is subject to Alpine Township Board of Trustees approval.

ⓘ 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: $2,158 · $180/mo
• Projected year-2 tax: $3,003 · $250/mo
• Expected delta: +$845/yr (+$70/mo · 39.1%)

ⓘ 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: $22,293
• − Mortgage interest: −$13,998
• − Property taxes: −$2,158
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,783
• − Management: −$1,783
• − Depreciation: −$7,270
• Taxable loss: −$5,950
• Est. tax savings @ 24.0%: +$1,428
• After-tax cash flow: $-94/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: Sparta Area Schools
• NCES district ID: 2632370
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 47% ▼ -9.00%
• Median HH income: $54,917
• Composite: 34.91/100
• National rank: #5074
• State rank: #201 of 540 in MI

Livability — Sparta

• Score: 80/100
• State rank: #83
• US rank: #1786

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 13,189
• Population (ZIP): 13,189

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Iranian 17% Romanian 9% Lithuanian 4%
• Foreign-born: 2% · Vietnam, South Korea, Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Vietnamese 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: ▼ -109.19%
• Current HPI: 290.9224
• Rent YoY: —
• Metro: —
• 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

+0.8% since first listed

9 events — show timeline

• 2026-05-29 Sold (MLS) $252,000 SW Michigan MLS
• 2026-05-29 Sold (MLS) $252,000 MiRealSource-MiMLS
• 2026-05-29 Sold (MLS) $252,000 REALCOMP
• 2026-05-12 Pending — REALCOMP
• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — SW Michigan MLS
• 2026-05-06 Listed $249,900 REALCOMP
• 2026-05-06 Listed $249,900 SW Michigan MLS
• 2026-05-06 Listed $249,900 MiRealSource-MiMLS

Property tax history

+3.4%/yr

Latest (2025): $2,158 · +2.8% YoY. Source: county tax records.