5421 Collingwood Ave · Parchment, MI 49004

$55,000

1 bd · 1.0 ba · 736 sqft · SingleFamily public records · 2 Days on market

Built 1930 0.46 ac lot

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Estate sale - Home is being sold by Trustee for estate. This 1-bedroom home is in need of repair and a new owner. Property has gone thru probate, and it has been sitting vacant for 2 years. You won't find many in this price range now a days. Excellent opportunity for the handy person. Price reflects condition and extent of work. Home is being sold in AS IS condition.

Key facts

• 0.46 acre lot
• Built 1930
• Listed 2 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($920 rent vs $55k).

Location & tenants

• Location reads 74/100 on livability (#175 in MI, #4,569 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Parchment School District (suburban): math 22% / reading 36% proficiency, ranked #372 of 540 in MI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 99 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent is only 15% of the median local income ($73k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 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 + 3.0% rent growth), your $15k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 2 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.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.67% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.32%
• DSCR: 1.95
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $150,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5374 Keyes Dr	0.13mi	2/1.0 (+1)	708 (-4%)	3mo	$180,500	$255	80
5216 Keyes Dr	0.22mi	2/1.0 (+1)	748 (+2%)	6mo	$125,000	$167	77
5273 Wayne Ave	0.26mi	2/1.0 (+1)	720 (-2%)	9mo	$159,900	$222	72
1493 Remus St	0.43mi	2/1.0 (+1)	720 (-2%)	6mo	$128,000	$178	66
5320 Boylan St	0.27mi	2/1.0 (+1)	720 (-2%)	20mo	$122,000	$169	62
5228 Boylan St	0.32mi	2/1.0 (+1)	720 (-2%)	18mo	$160,000	$222	61
1940 Travis Rd	0.45mi	2/1.0 (+1)	714 (-3%)	10mo	$147,900	$207	61
438 Elmhurst Ave	0.63mi	2/1.0 (+1)	736 (0%)	6mo	$159,900	$217	60
428 Keyes Dr	0.61mi	2/1.0 (+1)	720 (-2%)	23mo	$72,088	$100	44
1237 E G Ave	0.42mi	2/1.0 (+1)	672 (-9%)	23mo	$137,100	$204	42
5098 Beverly Ave	0.56mi	2/1.0 (+1)	816 (+11%)	20mo	$149,900	$184	34
609 Keyes Dr	0.51mi	2/1.0 (+1)	832 (+13%)	23mo	$162,500	$195	30

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: 13.9%
• Equity multiple: 1.56×
• Total profit: $8,570
• Equity at exit: $8,201

10-year hold

• IRR: 22.8%
• Equity multiple: 2.96×
• Total profit: $30,136
• Equity at exit: $4,755

Cash invested: $15,400 (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 49004

• Active inventory: 99
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $920 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$142 /mo · $1,699/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $274

Break-even live

Break-even rent $573

Max offer price $55,000

Occupancy floor 65%

Sensitivity live

Price	-10% $305	-5% $289	+0% $274	+5% $258	+10% $242
Rent	-10% $201	-5% $237	+0% $274	+5% $310	+10% $346
Rate	-1.0pp $301	-0.5pp $288	base $274	+0.5pp $259	+1.0pp $245

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1700 E G Ave Unit 1B Kalamazoo, MI	1.0	1.0	690	$855	$1.24	22d	1	0.53mi
450 Haymac Dr Parchment, MI	1.0–3.0	1.0–2.0	867	$919	$1.06	14d	1	0.85mi
103 Devon Ave Unit c5 Parchment, MI	2.0	1.0	558	$945	$1.69	45d	1	1.14mi

Listing history 6 events

1. 2026-04-25
   status Pending 369-char remark

   Show marketing remark (369 chars)

   Estate sale - Home is being sold by Trustee for estate. This 1-bedroom home is in need of repair and a new owner. Property has gone thru probate, and it has been sitting vacant for 2 years. You won't find many in this price range now a days. Excellent opportunity for the handy person. Price reflects condition and extent of work. Home is being sold in AS IS condition.

2. 2026-04-25
   status Pending 369-char remark

   Show marketing remark (369 chars)

   Estate sale - Home is being sold by Trustee for estate. This 1-bedroom home is in need of repair and a new owner. Property has gone thru probate, and it has been sitting vacant for 2 years. You won't find many in this price range now a days. Excellent opportunity for the handy person. Price reflects condition and extent of work. Home is being sold in AS IS condition.

3. 2026-04-25
   status Pending

   Show marketing remark (369 chars)

   Estate sale - Home is being sold by Trustee for estate. This 1-bedroom home is in need of repair and a new owner. Property has gone thru probate, and it has been sitting vacant for 2 years. You won't find many in this price range now a days. Excellent opportunity for the handy person. Price reflects condition and extent of work. Home is being sold in AS IS condition.

4. 2026-04-15
   listed $55,000 Active 369-char remark

   Show marketing remark (369 chars)

   Estate sale - Home is being sold by Trustee for estate. This 1-bedroom home is in need of repair and a new owner. Property has gone thru probate, and it has been sitting vacant for 2 years. You won't find many in this price range now a days. Excellent opportunity for the handy person. Price reflects condition and extent of work. Home is being sold in AS IS condition.

5. 2026-04-15
   listed $55,000 Active 369-char remark

   Show marketing remark (369 chars)

   Estate sale - Home is being sold by Trustee for estate. This 1-bedroom home is in need of repair and a new owner. Property has gone thru probate, and it has been sitting vacant for 2 years. You won't find many in this price range now a days. Excellent opportunity for the handy person. Price reflects condition and extent of work. Home is being sold in AS IS condition.

6. 2026-04-15
   listed $55,000 Active

   Show marketing remark (369 chars)

   Estate sale - Home is being sold by Trustee for estate. This 1-bedroom home is in need of repair and a new owner. Property has gone thru probate, and it has been sitting vacant for 2 years. You won't find many in this price range now a days. Excellent opportunity for the handy person. Price reflects condition and extent of work. Home is being sold in AS IS condition.

ⓘ 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: $1,699 · $142/mo
• Projected year-2 tax: $1,699 · $142/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 ≥100°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: $11,035
• − Mortgage interest: −$3,081
• − Property taxes: −$1,699
• − Insurance: −$275
• − Repairs & maintenance: −$883
• − Management: −$883
• − Depreciation: −$1,600
• Taxable income: $2,615
• Est. tax owed @ 24.0%: −$628
• After-tax cash flow: $2,655/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: Parchment School District
• NCES district ID: 2627420
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $49,525
• Composite: 25.27/100
• National rank: #7494
• State rank: #372 of 540 in MI

Livability — Parchment

• Score: 74/100
• State rank: #175
• US rank: #4569

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kalamazoo County · 224,317 people
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 17,815
• Household income: $73,453
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 330.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 9% Black 8% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 10% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 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: ▼ -247.79%
• Current HPI: 202.6197
• Rent YoY: —
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-25 Pending — REALCOMP
• 2026-04-25 Pending — MiRealSource-MiMLS
• 2026-04-25 Pending — SW Michigan MLS
• 2026-04-15 Listed $55,000 SW Michigan MLS
• 2026-04-15 Listed $55,000 MiRealSource-MiMLS
• 2026-04-15 Listed $55,000 REALCOMP

Property tax history

+77.8%/yr

Latest (2025): $1,699 · +158.8% YoY. Source: county tax records.