625 Ada St · Kalamazoo, MI 49007

$129,000

4 bd · 1.0 ba · 1,202 sqft · SingleFamily public records · 73 Days on market

Built 1890 6,534 sqft lot Est $117k · 11% over

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Why this score? — see what drove the C 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 +26.0/30.0
• DSCR +8.8/10.0
• 1% rule +6.9/10.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• ARV discount +2.7/15.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Undergoing a complete renovation from top to bottom, this three-bedroom home could be your dream home. It has a new roof, new siding, new double pane windows, new all-electric HVAC, new kitchen cabinets, and new stainless-steel appliances. This house won't need any of those expensive repairs for years! This is a must-see house on Kalamazoo's Northside with an oversized two-car garage. Set up a showing today! Preference is given to First-Time Homebuyers or those who have not owned a home in the past 3 years. Buyers must be under 80% of the Area Median Income.

Key facts

• New siding
• New kitchen cabinets
• New roof

Tags

• NEW ROOF
• NEW SIDING
• NEW DOUBLE PANE WINDOWS
• NEW ALL ELECTRIC HVAC
• NEW KITCHEN CABINETS
• NEW STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $121k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 3.5% 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 soft (-0.8%/yr); 77 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• At $1,535/mo this rent would consume 47% of the median local household income ($39k/yr) (locally 816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $892 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 34y 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 $8k; list at $129k implies a 1529% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,260 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.19% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.48
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $116,594
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
625 Ada St	0.00mi	3/1.0 (-1)	1,202 (0%)	1mo	$129,000	$107	94
716 Elizabeth St	0.25mi	4/1.5	1,170 (-3%)	5mo	$65,000	$56	78
805 Hawley St	0.33mi	3/1.0 (-1)	1,224 (+2%)	5mo	$115,000	$94	72
721 Elizabeth St	0.23mi	4/1.0	1,126 (-6%)	8mo	$126,900	$113	72
1212 Princeton Ave	0.38mi	3/1.0 (-1)	1,200 (-0%)	6mo	$147,000	$123	72
1115 Woodward Ave	0.32mi	3/1.0 (-1)	1,144 (-5%)	1mo	$103,000	$90	71
534 Lulu St	0.54mi	4/1.0	1,224 (+2%)	3mo	$55,000	$45	69
810 Hawley St	0.31mi	3/1.0 (-1)	1,154 (-4%)	8mo	$30,000	$26	67
1010 Cobb Ave	0.21mi	4/1.0	1,331 (+11%)	9mo	$167,000	$125	64
1111 Woodward Ave	0.32mi	3/1.0 (-1)	1,356 (+13%)	10mo	$137,000	$101	51
214 E Clay St	0.74mi	3/1.5 (-1)	1,169 (-3%)	10mo	$70,000	$60	46
1332 Summit Ave	0.58mi	3/1.5 (-1)	1,372 (+14%)	8mo	$133,200	$97	36

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-4,912
• Equity at exit: $19,234

10-year hold

• IRR: 2.1%
• Equity multiple: 1.13×
• Total profit: $4,785
• Equity at exit: $11,154

Cash invested: $36,120 (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 49007

• Rents YoY: -0.8%
• Active inventory: 77
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,535 medium
• Mortgage (P&I): −$676
• Tax est. 1.5%: −$161 /mo · $1,935/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $321

Break-even live

Break-even rent $1,128

Max offer price $129,000

Occupancy floor 74%

Sensitivity live

Price	-10% $411	-5% $366	+0% $321	+5% $277	+10% $232
Rent	-10% $200	-5% $261	+0% $321	+5% $382	+10% $443
Rate	-1.0pp $386	-0.5pp $354	base $321	+0.5pp $288	+1.0pp $254

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
708 Elizabeth St Kalamazoo, MI	3.0	1.5	1128	$1,250	$1.11	14d	1	0.27mi
816 W Main St Kalamazoo, MI	3.0	1.0	1005	$1,100	$1.09	22d	1	0.43mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	22d	1	0.44mi
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	14d	12	0.97mi

Listing history 27 events

1. 2026-04-24
   status Pending 564-char remark

   Show marketing remark (564 chars)

   Undergoing a complete renovation from top to bottom, this three-bedroom home could be your dream home. It has a new roof, new siding, new double pane windows, new all-electric HVAC, new kitchen cabinets, and new stainless-steel appliances. This house won't need any of those expensive repairs for years! This is a must-see house on Kalamazoo's Northside with an oversized two-car garage. Set up a showing today! Preference is given to First-Time Homebuyers or those who have not owned a home in the past 3 years. Buyers must be under 80% of the Area Median Income.

2. 2026-04-24
   status Pending 564-char remark

   Show marketing remark (564 chars)

   Undergoing a complete renovation from top to bottom, this three-bedroom home could be your dream home. It has a new roof, new siding, new double pane windows, new all-electric HVAC, new kitchen cabinets, and new stainless-steel appliances. This house won't need any of those expensive repairs for years! This is a must-see house on Kalamazoo's Northside with an oversized two-car garage. Set up a showing today! Preference is given to First-Time Homebuyers or those who have not owned a home in the past 3 years. Buyers must be under 80% of the Area Median Income.

3. 2026-04-24
   status Pending

   Show marketing remark (564 chars)

   Undergoing a complete renovation from top to bottom, this three-bedroom home could be your dream home. It has a new roof, new siding, new double pane windows, new all-electric HVAC, new kitchen cabinets, and new stainless-steel appliances. This house won't need any of those expensive repairs for years! This is a must-see house on Kalamazoo's Northside with an oversized two-car garage. Set up a showing today! Preference is given to First-Time Homebuyers or those who have not owned a home in the past 3 years. Buyers must be under 80% of the Area Median Income.

4. 2026-02-10
   listed $129,000 Active 564-char remark

   Show marketing remark (564 chars)

   Undergoing a complete renovation from top to bottom, this three-bedroom home could be your dream home. It has a new roof, new siding, new double pane windows, new all-electric HVAC, new kitchen cabinets, and new stainless-steel appliances. This house won't need any of those expensive repairs for years! This is a must-see house on Kalamazoo's Northside with an oversized two-car garage. Set up a showing today! Preference is given to First-Time Homebuyers or those who have not owned a home in the past 3 years. Buyers must be under 80% of the Area Median Income.

5. 2026-02-10
   listed $129,000 Active 564-char remark

   Show marketing remark (564 chars)

   Undergoing a complete renovation from top to bottom, this three-bedroom home could be your dream home. It has a new roof, new siding, new double pane windows, new all-electric HVAC, new kitchen cabinets, and new stainless-steel appliances. This house won't need any of those expensive repairs for years! This is a must-see house on Kalamazoo's Northside with an oversized two-car garage. Set up a showing today! Preference is given to First-Time Homebuyers or those who have not owned a home in the past 3 years. Buyers must be under 80% of the Area Median Income.

6. 2026-02-10
   listed $129,000 Active

   Show marketing remark (564 chars)

   Undergoing a complete renovation from top to bottom, this three-bedroom home could be your dream home. It has a new roof, new siding, new double pane windows, new all-electric HVAC, new kitchen cabinets, and new stainless-steel appliances. This house won't need any of those expensive repairs for years! This is a must-see house on Kalamazoo's Northside with an oversized two-car garage. Set up a showing today! Preference is given to First-Time Homebuyers or those who have not owned a home in the past 3 years. Buyers must be under 80% of the Area Median Income.

7. 2022-05-25
   historical
8. 2014-09-28
   historical
9. 2014-09-15
   historical
10. 2011-06-23
    soldstatus $7,920
11. 2011-06-23
    soldstatus $7,920
12. 2011-04-22
    listed $10,000
13. 2011-04-22
    listed $10,000
14. 2007-09-13
    soldstatus $68,421
15. 2007-05-16
    historical
16. 2007-04-05
    listed $67,900
17. 2007-04-05
    listed $67,900
18. 2007-01-23
    soldstatus $10,900
19. 2007-01-23
    soldstatus $10,900
20. 2006-09-05
    listed $13,900
21. 2006-09-05
    listed $13,900
22. 1994-04-15
    historical
23. 1993-10-17
    listed $21,000
24. 1993-10-17
    listed $21,000
25. 1993-10-01
    historical
26. 1992-10-01
    listed $29,000
27. 1992-10-01
    listed $29,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $18,423
• − Mortgage interest: −$7,226
• − Property taxes: −$1,935
• − Insurance: −$645
• − Repairs & maintenance: −$1,474
• − Management: −$1,474
• − Depreciation: −$3,753
• Taxable income: $1,917
• Est. tax owed @ 24.0%: −$460
• After-tax cash flow: $3,396/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): 9,836
• Household income: $39,344
• Rent vs Own: 75.8% rent · 24.2% own
• Severe rent burden: 816.0

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 0.61)
• Race & ethnicity: White 44% Black 44% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1% Arabic 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: ▼ -68.80%
• Current HPI: 112.4973
• Rent YoY: ▼ -0.85%
• 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

+344.8% since first listed

27 events — show timeline

• 2026-04-24 Pending — MiRealSource-MiMLS
• 2026-04-24 Pending — REALCOMP
• 2026-04-24 Pending — SW Michigan MLS
• 2026-02-10 Listed $129,000 REALCOMP
• 2026-02-10 Listed $129,000 SW Michigan MLS
• 2026-02-10 Listed $129,000 MiRealSource-MiMLS
• 2022-05-25 Listing Removed — REALCOMP
• 2014-09-28 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2011-06-23 Sold (MLS) $7,920 REALCOMP
• 2011-06-23 Sold (MLS) $7,920 SW Michigan MLS
• 2011-04-22 Listed $10,000 REALCOMP
• 2011-04-22 Listed $10,000 SW Michigan MLS
• 2007-09-13 Sold (Public Records) $68,421 Public Records
• 2007-05-16 Listing Removed — SW Michigan MLS
• 2007-04-05 Listed $67,900 SW Michigan MLS
• 2007-04-05 Listed $67,900 REALCOMP
• 2007-01-23 Sold (MLS) $10,900 REALCOMP
• 2007-01-23 Sold (MLS) $10,900 SW Michigan MLS
• 2006-09-05 Listed $13,900 REALCOMP
• 2006-09-05 Listed $13,900 SW Michigan MLS
• 1994-04-15 Listing Removed — REALCOMP
• 1993-10-17 Listed $21,000 REALCOMP
• 1993-10-17 Listed $21,000 SW Michigan MLS
• 1993-10-01 Listing Removed — REALCOMP
• 1992-10-01 Listed $29,000 REALCOMP
• 1992-10-01 Listed $29,000 SW Michigan MLS

Property tax history

-51.6%/yr

Latest (2024): $28 · -98.4% YoY. Source: county tax records.