In Kent County, Michigan (Kent County, MI metro), 1–4 unit investment properties carry an average effective property tax rate of 1.38% and landlord hazard insurance averaging $540 per $100K of coverage. At a median 1–4 unit acquisition price of $325,000 and Form 1007 market rent of $2,500/mo, a 75% LTV DSCR loan models at 1.19x DSCR ($2,101/mo total PITIA).
Statutory county assessor periodic revaluation; underwriters use post-acquisition projected tax bill (typically 85%–100% of purchase price × county millage rate).
Grand Rapids West Michigan Growth Hub
Standard county deed recording & nominal transfer fee ($50–$350 flat or ≤0.20% of consideration).
Underwrite post-acquisition tax bill using county millage calculator to prevent Year-2 escrow shortage.
Need help?