Score
0East Grand Rapids, MI
419 Edgemere Dr SE
1.6M
4 beds
2 baths
3,950 sqft
4 bd • 2 ba • 3,950 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$1,601,700
Price/Sq.Ft
$405
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 419 Edgemere Dr SE in East Grand Rapids boasts an impressive 3,950 square feet, which is approximately 30% larger than the average home in the area. At $405.49/sqft, it's priced competitively compared to the East Grand Rapids average of $450-$500/sqft. The location is prime, likely within walking distance to Reeds Lake and the popular Gaslight Village, enhancing its desirability. With 4 bedrooms and 2 bathrooms, it offers ample space for a family or for entertaining. The property appears well-maintained with attractive landscaping and a spacious driveway. The white exterior and green roof give it a classic, timeless appeal that fits well with East Grand Rapids' aesthetic. Based on the image, it seems to have a two-car garage, which is a valuable feature in this market.
The Bad
While the property has many positive attributes, there are some potential drawbacks. The asking price of $1,601,700 is significantly above the median income for the area ($96,348), which may limit the pool of potential buyers. The property taxes in East Grand Rapids are known to be among the highest in the area, which could add a substantial amount to the monthly ownership costs. With only 2 bathrooms for a 4-bedroom home of this size, the bathroom-to-bedroom ratio is lower than what many buyers in this price range might expect. The age of the home is unknown, which could be a concern if it's an older property, potentially leading to higher maintenance and renovation costs.
The Ugly
The property's proximity to power lines, visible in the image, could be a significant concern for some buyers due to perceived health risks and aesthetic issues. This could potentially impact resale value. If the property is close to Reeds Lake, there might be a higher risk of flooding, which could lead to increased insurance costs and potential property damage. The lack of detailed information about the home's features, utilities, and systems is concerning for a property in this price range. Without this information, there could be hidden issues or outdated systems that might require costly upgrades or replacements.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for affluent families or professionals with a household income of $400,000+ annually, considering the high purchase price and potential property tax burden. It's ideal for those who value the prestige and amenities of East Grand Rapids, including the excellent school district. The spacious layout makes it perfect for families with children or those who frequently entertain. It would also appeal to buyers who appreciate a classic architectural style and are willing to invest in potential upgrades to modernize the property if needed.
Not For
This property is not suitable for first-time homebuyers or those with a household income below $400,000 due to the high purchase price and ongoing costs. It's also not ideal for buyers looking for a low-maintenance or move-in ready home, as the unknown age and potential need for updates could require significant time and investment. Those sensitive to EMF exposure or concerned about living near power lines should look elsewhere. Investors seeking immediate high rental yields might find better opportunities, as the rental rates for a 4-bedroom in the area ($1,930/month) would not provide a competitive cap rate given the purchase price.
Demographics
Area Median Income
$96,348
Property History
Price History
Ownership Timeline
$445,000Cash Purchase
Sep 17, 2012Gregg A HendersonJanis A Azkoul, Janis A Azkoul Restated Trust
Warranty Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (4 bed)
Get a detailed estimate on Zillow$1,050
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$1,601,700
Price/sqft
$405
Layout
4 bd•2 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$552,150
190.1%
Your price is 190.1% above average
Median Price
$350,000
357.6%
Based on 6 recent sales
Price per Sq.Ft
$316
28.3%
Your price is 28.3% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 1061 Monterey Drive SE, East Grand Rapids, MI 49506 | $1,310,000 | 3,736 | 4 | 3 | $35113.5% | 10/18/2024 |
| 980 Plymouth Avenue SE, Grand Rapids, MI 49506 | $939,900 | 3,346 | 4 | 3 | $28130.7% | 9/3/2024 |
| 41 Benjamin Avenue SE, Grand Rapids, MI 49506 | $271,000 | N/A | N/A | N/A | N/A | 11/7/2024 |
| 1415 Sherman Street SE, Grand Rapids, MI 49506 | $350,000 | N/A | N/A | N/A | N/A | 10/22/2024 |
| 1412 Sherman Street SE, Grand Rapids, MI 49506 | $319,000 | N/A | N/A | N/A | N/A | 10/21/2024 |
| 1350 Wealthy Street SE, Grand Rapids, MI 49506 | $123,000 | N/A | N/A | N/A | N/A | 10/18/2024 |
1061 Monterey Drive SE, East Grand Rapids, MI 49506
Price: $1,310,000
Sq.Ft: 3,736
Beds/Baths: 4/3
$/Sq.Ft:
$35113.5%
Sale Date: 10/18/2024
980 Plymouth Avenue SE, Grand Rapids, MI 49506
Price: $939,900
Sq.Ft: 3,346
Beds/Baths: 4/3
$/Sq.Ft:
$28130.7%
Sale Date: 9/3/2024
41 Benjamin Avenue SE, Grand Rapids, MI 49506
Price: $271,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 11/7/2024
1415 Sherman Street SE, Grand Rapids, MI 49506
Price: $350,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 10/22/2024
1412 Sherman Street SE, Grand Rapids, MI 49506
Price: $319,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 10/21/2024
1350 Wealthy Street SE, Grand Rapids, MI 49506
Price: $123,000
Sq.Ft: N/A
Beds/Baths: N/A/N/A
$/Sq.Ft: N/A
Sale Date: 10/18/2024
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