403 E 2nd St · Antwerp, MI 49065

$219,900

3 bd · 2.0 ba · 1,188 sqft · SingleFamily public records · 70 Days on market

Built 2005 9,199 sqft lot $185/sqft · 17% above area Est $188k · 17% over

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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 +24.8/30.0
• DSCR +8.1/10.0
• 1% rule +5.2/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Village location Ranch layout Detached 2-car garage3-bedroom, 2-bath ranch offering 1,188 sq ft of single-level living on a 0.21-acre corner lot in Lawton. Main level includes all bedrooms, including a primary suite, plus a functional layout with living space and kitchen area. Exterior features vinyl siding, composition roof, new front porch, and a detached 2-car garage for parking and storage. Situated on a corner lot with public water and sewer, paved road frontage, and access to high-speed internet. Natural gas forced-air heat and central air conditioning provide year-round comfort. Located near Lawton village amenities with convenient access to M-40, local shops, parks, and services.

Key facts

• New front porch
• Ranch layout
• Composition roof

Tags

• RANCH LAYOUT
• DETACHED 2-CAR GARAGE
• CORNER LOT
• VINYL SIDING
• COMPOSITION ROOF
• NEW FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $220k).
• Recommended offer: $207k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Lawton Community School District (rural): math 27% / reading 45% proficiency, ranked #263 of 540 in MI (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 165 units permitted in Van Buren County in 2024 (0 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.
• Van Buren County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 31y 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 $34k; list at $220k implies a 537% gain — meaningful room to come down on a strong offer.

Recommended offer $206,706 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 8.85%
• Cash-on-cash: 9.13%
• DSCR: 1.41
• GRM: 8.1

CMA / ARV

• ARV (median comp): $187,903
• List price: $219,900
• Delta: 17.03%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 S Adams St	0.12mi	3/1.5	1,156 (-3%)	5mo	$195,000	$169	84
106 N Quincy St	0.35mi	3/1.0	1,208 (+2%)	2mo	$165,013	$137	75
405 E Bitely St	0.31mi	2/1.0 (-1)	1,205 (+1%)	8mo	$226,000	$188	68
604 E 2nd St	0.13mi	3/1.0	1,350 (+14%)	4mo	$162,000	$120	64
806 E 4th St	0.32mi	3/1.0	1,056 (-11%)	3mo	$235,000	$223	60
727 E 2nd St	0.23mi	2/2.0 (-1)	1,333 (+12%)	14mo	$250,000	$188	52
322 S Nursery St	0.31mi	2/1.0 (-1)	1,025 (-14%)	6mo	$170,000	$166	49

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: -2.5%
• Equity multiple: 0.90×
• Total profit: $-5,904
• Equity at exit: $32,788

10-year hold

• IRR: 7.1%
• Equity multiple: 1.53×
• Total profit: $32,877
• Equity at exit: $19,013

Cash invested: $61,572 (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 49065

• Active inventory: 32
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,251 medium
• Mortgage (P&I): −$1,153
• Tax from tax record: −$65 /mo · $785/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $468

Break-even live

Break-even rent $1,659

Max offer price $219,900

Occupancy floor 74%

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Listing history 40 events

1. 2026-06-18
   days on market $219,900 Active 70 DOM
2. 2026-06-17
   days on market $219,900 Active 69 DOM
3. 2026-06-16
   days on market $219,900 Active 68 DOM
4. 2026-06-15
   days on market $219,900 Active 67 DOM
5. 2026-06-13
   days on market $219,900 Active 65 DOM
6. 2026-06-12
   pricedays on market $219,900 Active 64 DOM
7. 2026-06-09
   days on market $225,000 Active 61 DOM
8. 2026-06-08
   days on market $225,000 Active 60 DOM
9. 2026-06-07
   days on market $225,000 Active 59 DOM
10. 2026-06-05
    days on market $225,000 Active 57 DOM
11. 2026-06-04
    days on market $225,000 Active 55 DOM
12. 2026-06-02
    days on market $225,000 Active 54 DOM
13. 2026-06-01
    days on market $225,000 Active 53 DOM
14. 2026-05-31
    days on market $225,000 Active 52 DOM
15. 2026-05-31
    days on market $225,000 Active 51 DOM
16. 2026-04-09
    listed $225,000 Active 698-char remark

    Show marketing remark (696 chars)

    Village location Ranch layout Detached 2-car garage3-bedroom, 2-bath ranch offering 1,188 sq ft of single-level living on a 0.21-acre corner lot in Lawton. Main level includes all bedrooms, including a primary suite, plus a functional layout with living space and kitchen area. Exterior features vinyl siding, composition roof, new front porch, and a detached 2-car garage for parking and storage. Situated on a corner lot with public water and sewer, paved road frontage, and access to high-speed internet. Natural gas forced-air heat and central air conditioning provide year-round comfort. Located near Lawton village amenities with convenient access to M-40, local shops, parks, and services.

17. 2026-04-09
    listed $225,000 Active 696-char remark

    Show marketing remark (696 chars)

    Village location Ranch layout Detached 2-car garage3-bedroom, 2-bath ranch offering 1,188 sq ft of single-level living on a 0.21-acre corner lot in Lawton. Main level includes all bedrooms, including a primary suite, plus a functional layout with living space and kitchen area. Exterior features vinyl siding, composition roof, new front porch, and a detached 2-car garage for parking and storage. Situated on a corner lot with public water and sewer, paved road frontage, and access to high-speed internet. Natural gas forced-air heat and central air conditioning provide year-round comfort. Located near Lawton village amenities with convenient access to M-40, local shops, parks, and services.

18. 2026-04-09
    listed $225,000 Active

    Show marketing remark (696 chars)

    Village location Ranch layout Detached 2-car garage3-bedroom, 2-bath ranch offering 1,188 sq ft of single-level living on a 0.21-acre corner lot in Lawton. Main level includes all bedrooms, including a primary suite, plus a functional layout with living space and kitchen area. Exterior features vinyl siding, composition roof, new front porch, and a detached 2-car garage for parking and storage. Situated on a corner lot with public water and sewer, paved road frontage, and access to high-speed internet. Natural gas forced-air heat and central air conditioning provide year-round comfort. Located near Lawton village amenities with convenient access to M-40, local shops, parks, and services.

19. 2014-09-27
    historical
20. 2013-01-31
    soldstatus $34,500
21. 2013-01-31
    soldstatus $34,500
22. 2012-11-16
    listed $34,900
23. 2012-11-16
    listed $34,900
24. 2007-07-02
    soldstatus $89,000
25. 2007-06-22
    soldstatus $89,000
26. 2007-06-22
    soldstatus $89,000
27. 2006-11-29
    listed $89,900
28. 2006-11-29
    listed $89,900
29. 2005-04-13
    listed $79,900
30. 2005-04-13
    listed $79,900
31. 2004-03-30
    soldstatus $19,000
32. 2003-12-01
    listed $24,900
33. 2003-06-01
    listed $24,900
34. 2003-06-01
    listed $24,900
35. 2003-03-27
    listed $18,750
36. 2003-03-27
    listed $18,750
37. 1995-04-10
    soldstatus $30,000
38. 1995-04-10
    soldstatus $30,000
39. 1995-03-14
    listed $39,500
40. 1995-03-14
    listed $39,500

ⓘ 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: $785 · $65/mo
• Projected year-2 tax: $2,086 · $174/mo
• Expected delta: +$1,301/yr (+$108/mo · 165.6%)

ⓘ 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 ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,015
• − Mortgage interest: −$12,318
• − Property taxes: −$785
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,161
• − Management: −$2,161
• − Depreciation: −$6,397
• Taxable income: $2,093
• Est. tax owed @ 24.0%: −$502
• After-tax cash flow: $5,117/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: Lawton Community School District
• NCES district ID: 2621240
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $49,315
• Composite: 31.04/100
• National rank: #6084
• State rank: #263 of 540 in MI

Livability — Antwerp

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

Census & demographics

• Census place: Lawton, MI
• Population (ZIP): 7,283

Population outlook (Van Buren County) Hauer SSP2

• Today (2025): 71,479 people
• By 2030: 68,693 · -3.9%
• By 2040: 62,093 · -13.1%
• By 2050: 55,232 · -22.7%
• By 2075: 40,786 · -42.9%
• By 2100: 27,785 · -61.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 8% Iranian 6% Lithuanian 2%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Van Buren

• 2024 margin: R (+15.1) · D 41.7% · R 56.9% · Other 1.4%
• 2008→2024 swing: -23.9pp toward R · 2008: 8.8pp · 2024: -15.1pp
• All cycles: 2024: R+15.1 2020: R+12.3 2016: R+13.9 2012: D+0.5 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -162.97%
• Current HPI: 165.0761
• 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

+469.6% since first listed

25 events — show timeline

• 2026-04-09 Listed $225,000 REALCOMP
• 2026-04-09 Listed $225,000 SW Michigan MLS
• 2026-04-09 Listed $225,000 MiRealSource-MiMLS
• 2014-09-27 Listing Removed — SW Michigan MLS
• 2013-01-31 Sold (MLS) $34,500 REALCOMP
• 2013-01-31 Sold (MLS) $34,500 SW Michigan MLS
• 2012-11-16 Listed $34,900 REALCOMP
• 2012-11-16 Listed $34,900 SW Michigan MLS
• 2007-07-02 Sold (Public Records) $89,000 Public Records
• 2007-06-22 Sold (MLS) $89,000 REALCOMP
• 2007-06-22 Sold (MLS) $89,000 SW Michigan MLS
• 2006-11-29 Listed $89,900 REALCOMP
• 2006-11-29 Listed $89,900 SW Michigan MLS
• 2005-04-13 Listed $79,900 REALCOMP
• 2005-04-13 Listed $79,900 SW Michigan MLS
• 2004-03-30 Sold (MLS) $19,000 SW Michigan MLS
• 2003-12-01 Listed $24,900 SW Michigan MLS
• 2003-06-01 Listed $24,900 REALCOMP
• 2003-06-01 Listed $24,900 SW Michigan MLS
• 2003-03-27 Listed $18,750 REALCOMP
• 2003-03-27 Listed $18,750 SW Michigan MLS
• 1995-04-10 Sold (MLS) $30,000 REALCOMP
• 1995-04-10 Sold (MLS) $30,000 SW Michigan MLS
• 1995-03-14 Listed $39,500 REALCOMP
• 1995-03-14 Listed $39,500 SW Michigan MLS

Property tax history

-5.4%/yr

Latest (2025): $785 · -61.0% YoY. Source: county tax records.