208 E Emerson St · Kalamazoo, MI 49001

$65,000

3 bd · 1.0 ba · 1,013 sqft · SingleFamily public records · 22 Days on market

Built 1886 0.45 ac lot Est $124k · 47% under ↓ 10% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent opportunity for a single family home or an investment property. Home sits on . 44 acres in the city! Large wooded lot next to the home that offers wild life and some tranquility. Metal roof. An opportunity to make it what you want it to be. Large cul-de-sac location. Easy to show.

Key facts

• Cul-de-sac location
• Wooded lot
• Single family home

Tags

• SINGLE FAMILY HOME
• INVESTMENT PROPERTY
• WOODED LOT
• CUL-DE-SAC LOCATION

Property features AI

Finance

• Other: Property listed as Residential — Single Family Residence
• Financial info: Financial details not provided (taxes shown in source omitted)
• HOA & community: HOA information not provided

Exterior

• Parking: Parking information not provided
• Security: Security information not provided
• Utilities: Public water
• Home design: Traditional-style single-family residence; Facing direction not provided; 1,013 living area (reported)
• Construction: Built in 1886; Wood siding; Metal roof; Basement: Michigan basement / other
• Exterior features: Located on a cul-de-sac; Paved road access

Interior

• Kitchen: Oven; Refrigerator
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring information not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Replacement windows; 6 total rooms
• Laundry & utility: Laundry information not provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $520 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 4.1% in Kalamazoo — 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 76/100 on livability (#141 in MI, #3,492 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Kalamazoo Public Schools (urban): math 43% / reading 72% proficiency, ranked #71 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+6.4%/yr); 109 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Kalamazoo County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,025 (1.5% below list)

Questions for the listing agent

1. Built in 1886 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.96% ✓
• Cap rate: 15.88%
• Cash-on-cash: 34.26%
• DSCR: 2.52
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $123,586
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
316 Reed Ave	0.10mi	3/1.5	975 (-4%)	11mo	$118,900	$122	78
222 E Belmont St	0.24mi	3/1.0	1,086 (+7%)	0mo	$45,000	$41	76
134 W Alcott St	0.34mi	3/1.0	953 (-6%)	0mo	$205,000	$215	74
130 W Alcott St	0.34mi	3/1.0	923 (-9%)	11mo	$155,000	$168	60
516 E Alcott St	0.44mi	3/1.0	1,098 (+8%)	6mo	$112,780	$103	60
702 Portage Ct	0.56mi	3/1.0	1,086 (+7%)	12mo	$156,000	$144	52
133 Inkster Ave	0.57mi	2/1.0 (-1)	1,070 (+6%)	11mo	$192,500	$180	49
2314 S Burdick St	0.51mi	3/1.0	1,126 (+11%)	13mo	$125,000	$111	47
1127 Maywood Ave	0.67mi	3/1.0	1,086 (+7%)	12mo	$102,000	$94	46
1809 Race St	0.67mi	3/1.0	1,097 (+8%)	11mo	$130,000	$119	45
739 Egleston Ave	0.51mi	2/1.0 (-1)	864 (-15%)	5mo	$77,000	$89	42
515 Mccourtie St	0.54mi	4/2.0 (+1)	1,161 (+15%)	8mo	$165,500	$143	34

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 · 6.41% rent growth · sell at horizon

5-year hold

• IRR: 33.6%
• Equity multiple: 2.49×
• Total profit: $27,114
• Equity at exit: $9,692

10-year hold

• IRR: 42.4%
• Equity multiple: 5.74×
• Total profit: $86,257
• Equity at exit: $5,620

Cash invested: $18,200 (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 49001

• Rents YoY: 6.4%
• Active inventory: 109
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,272 high
• Mortgage (P&I): −$341
• Tax from tax record: −$117 /mo · $1,409/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $520

Break-even live

Break-even rent $614

Max offer price $65,000

Occupancy floor 54%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1512 S Burdick St Kalamazoo, MI	3.0	1.0	887	$1,250	$1.41	13d	1	0.15mi
2002 S Westnedge Ave Kalamazoo, MI	2.0	1.0	900	$1,250	$1.39	21d	2	0.55mi
730 Pioneer St Unit 2 Kalamazoo, MI	2.0	1.0	870	$900	$1.03	13d	1	0.66mi
515 Minor Ave Unit 2 Kalamazoo, MI	2.0	1.0	800	$1,125	$1.41	13d	1	0.67mi
1315 Race St Kalamazoo, MI	2.0	1.0	826	$950	$1.15	13d	1	0.73mi
620 Minor Ave Unit 3 Kalamazoo, MI	2.0	1.0	800	$1,075	$1.34	13d	1	0.74mi
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	13d	12	0.80mi
2725 S Burdick St Kalamazoo, MI	2.0	1.0	1000	$1,250	$1.25	13d	1	0.81mi
23 Ridgewood St Kalamazoo, MI	2.0	1.0	1100	$1,295	$1.18	21d	1	0.86mi
2843 S Burdick St Unit D Kalamazoo, MI	2.0	1.0	776	$895	$1.15	21d	1	0.91mi
444 Garland St Apt 3 Kalamazoo, MI	2.0	1.0	850	$1,075	$1.26	13d	1	0.94mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	21d	1	1.20mi
611 Whites Rd Kalamazoo, MI	1.0–2.0	1.0	963	$1,449	$1.50	13d	4	1.23mi
816 W Main St Kalamazoo, MI	3.0	1.0	1005	$1,100	$1.09	21d	1	1.37mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	21d	1	1.39mi
232 Woodward Ave Unit 5 Kalamazoo, MI	2.0	1.0	1400	$999	$0.71	13d	1	1.47mi

Listing history 9 events

1. 2026-05-02
   status Pending 291-char remark

   Show marketing remark (292 chars)

   Excellent opportunity for a single family home or an investment property. Home sits on . 44 acres in the city! Large wooded lot next to the home that offers wild life and some tranquility. Metal roof. An opportunity to make it what you want it to be. Large cul-de-sac location. Easy to show.

2. 2026-05-02
   status Pending 292-char remark

   Show marketing remark (292 chars)

   Excellent opportunity for a single family home or an investment property. Home sits on . 44 acres in the city! Large wooded lot next to the home that offers wild life and some tranquility. Metal roof. An opportunity to make it what you want it to be. Large cul-de-sac location. Easy to show.

3. 2026-05-02
   status Pending

   Show marketing remark (292 chars)

   Excellent opportunity for a single family home or an investment property. Home sits on . 44 acres in the city! Large wooded lot next to the home that offers wild life and some tranquility. Metal roof. An opportunity to make it what you want it to be. Large cul-de-sac location. Easy to show.

4. 2026-04-22
   price $65,000 291-char remark

   Show marketing remark (291 chars)

   Excellent opportunity for a single family home or an investment property. Home sits on . 44 acres in the city! Large wooded lot next to the home that offers wild life and some tranquility. Metal roof. An opportunity to make it what you want it to be. Large cul-de-sac location. Easy to show.

5. 2026-04-21
   price $65,000 292-char remark

   Show marketing remark (292 chars)

   Excellent opportunity for a single family home or an investment property. Home sits on . 44 acres in the city! Large wooded lot next to the home that offers wild life and some tranquility. Metal roof. An opportunity to make it what you want it to be. Large cul-de-sac location. Easy to show.

6. 2026-04-21
   price $65,000

   Show marketing remark (292 chars)

   Excellent opportunity for a single family home or an investment property. Home sits on . 44 acres in the city! Large wooded lot next to the home that offers wild life and some tranquility. Metal roof. An opportunity to make it what you want it to be. Large cul-de-sac location. Easy to show.

7. 2026-04-11
   listed $72,000 Active 292-char remark

   Show marketing remark (292 chars)

   Excellent opportunity for a single family home or an investment property. Home sits on . 44 acres in the city! Large wooded lot next to the home that offers wild life and some tranquility. Metal roof. An opportunity to make it what you want it to be. Large cul-de-sac location. Easy to show.

8. 2026-04-10
   listed $72,000 Active 291-char remark

   Show marketing remark (291 chars)

   Excellent opportunity for a single family home or an investment property. Home sits on . 44 acres in the city! Large wooded lot next to the home that offers wild life and some tranquility. Metal roof. An opportunity to make it what you want it to be. Large cul-de-sac location. Easy to show.

9. 2026-04-10
   listed $72,000 Active

   Show marketing remark (291 chars)

   Excellent opportunity for a single family home or an investment property. Home sits on . 44 acres in the city! Large wooded lot next to the home that offers wild life and some tranquility. Metal roof. An opportunity to make it what you want it to be. Large cul-de-sac location. Easy to show.

ⓘ 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: $1,409 · $117/mo
• Projected year-2 tax: $1,409 · $117/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,265
• − Mortgage interest: −$3,641
• − Property taxes: −$1,409
• − Insurance: −$325
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$1,891
• Taxable income: $5,556
• Est. tax owed @ 24.0%: −$1,334
• After-tax cash flow: $4,901/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: Kalamazoo Public Schools
• NCES district ID: 2619950
• Math proficiency: 43% ▲ 13.00%
• Reading proficiency: 72% ▲ 33.00%
• Median HH income: $35,291
• Composite: 47.48/100
• National rank: #2275
• State rank: #71 of 540 in MI

Livability — Kalamazoo

• Score: 76/100
• State rank: #141
• US rank: #3492

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kalamazoo, MI
• County: Kalamazoo County · 224,317 people
• City population: 121,397
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 20,946
• Household income: $56,432
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

Population outlook (Kalamazoo County) Hauer SSP2

• Today (2025): 280,982 people
• By 2030: 292,068 · +3.9%
• By 2040: 312,191 · +11.1%
• By 2050: 331,196 · +17.9%
• By 2075: 379,021 · +34.9%
• By 2100: 396,579 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 15% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 6% Iranian 4% Slovak 3%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 11% Arabic 2% Other Indo-European 1%

Political lean MEDSL · Kalamazoo

• 2024 margin: D (+17.7) · D 58.0% · R 40.3% · Other 1.7%
• 2008→2024 swing: -1.8pp toward R · 2008: 19.5pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+18.7 2016: D+12.8 2012: D+13.3 2008: D+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -264.90%
• Current HPI: 206.9355
• Rent YoY: ▲ 6.41%
• Metro: Kalamazoo-Portage, 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

-9.7% since first listed

9 events — show timeline

• 2026-05-02 Pending — MiRealSource-MiMLS
• 2026-05-02 Pending — REALCOMP
• 2026-05-02 Pending — SW Michigan MLS
• 2026-04-22 Price Changed $65,000 MiRealSource-MiMLS
• 2026-04-21 Price Changed $65,000 REALCOMP
• 2026-04-21 Price Changed $65,000 SW Michigan MLS
• 2026-04-11 Listed $72,000 REALCOMP
• 2026-04-10 Listed $72,000 SW Michigan MLS
• 2026-04-10 Listed $72,000 MiRealSource-MiMLS

Property tax history

+3.9%/yr

Latest (2025): $1,409 · +3.0% YoY. Source: county tax records.