2318 Woodward Ave · Kalamazoo, MI 49007

$49,900

2 bd · 1.0 ba · 650 sqft · SingleFamily public records · 17 Days on market

Built 1950 7,405 sqft lot $77/sqft · 17% below area Est $60k · 17% under ↓ 13% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity Awaits at 2318 Woodward!This home is full of potential and appears solid, offering the perfect opportunity for an owner-occupant, investor, or handyman ready to bring their vision to life. Featuring a peaceful, country-like setting with a serene feel, yet conveniently located close to city amenities, this property offers the best of both worlds. Located in the desirable Parchment School District, this home could make an excellent starter home, rental property, or renovation project. Bring your tools and imagination and build instant sweat equity. With some updates and improvements, this property has the potential to truly shine!Best suited for cash or renovation financing buyers. Excellent opportunity for investors, flippers, or buyers looking to build sweat equity in a peaceful setting close to city amenities.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1950

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Natural gas available; Electricity available
• Home design: Ranch-style single-family residence; One story; Residential property
• Construction: Built in 1950; Wood siding; Composition roof
• Exterior features: Cul-de-sac lot; Paved road access; Public water

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom; Bedroom 2
• Bathrooms: One full bathroom (primary bathroom)
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Replacement windows with screens; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $421 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.4% 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-.
• 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: Rents soft (-0.8%/yr); 77 active listings in the ZIP; 6 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).
• This rent runs 32% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k 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 + 0.0% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y ago; this cycle's ask has dropped $15k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $39k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $49,151 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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?
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: 2.10% ✓
• Cap rate: 16.42%
• Cash-on-cash: 36.18%
• DSCR: 2.61
• GRM: 4.0

CMA / ARV

• ARV (median comp): $59,982
• List price: $49,900
• Delta: -16.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2318 Woodward Ave	0.00mi	2/1.0	650 (0%)	0mo	$39,000	$60	100
1619 N Church St	0.65mi	1/2.0 (-1)	615 (-5%)	21mo	$14,750	$24	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 2.13×
• Total profit: $15,731
• Equity at exit: $7,440

10-year hold

• IRR: 33.8%
• Equity multiple: 3.62×
• Total profit: $36,605
• Equity at exit: $4,314

Cash invested: $13,972 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,047 high
• Mortgage (P&I): −$262
• Tax from tax record: −$124 /mo · $1,483/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $421

Break-even live

Break-even rent $514

Max offer price $49,900

Occupancy floor 55%

Sensitivity live

Price	-10% $450	-5% $435	+0% $421	+5% $407	+10% $393
Rent	-10% $339	-5% $380	+0% $421	+5% $463	+10% $504
Rate	-1.0pp $446	-0.5pp $434	base $421	+0.5pp $408	+1.0pp $395

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 Douglas Ave Unit 1 Kalamazoo, MI	1.0	1.0	600	$875	$1.46	14d	1	1.06mi
323 Woodward Ave Unit 2 Kalamazoo, MI	1.0	1.0	700	$1,350	$1.93	21d	1	1.38mi
315 Woodward Ave Unit 5 Kalamazoo, MI	1.0	1.0	600	$715	$1.19	14d	1	1.39mi
807 Ferris Ct Unit 1 Kalamazoo, MI	1.0	1.0	680	$910	$1.34	21d	1	1.40mi
807 Ferris Ct Unit 3 Kalamazoo, MI	1.0	1.0	680	$870	$1.28	21d	1	1.40mi
103 Devon Ave Unit c5 Parchment, MI	2.0	1.0	558	$945	$1.69	44d	1	1.48mi

Listing history 10 events

1. 2026-05-31
   status $49,900 Pending 17 DOM

   Show marketing remark (834 chars)

   Opportunity Awaits at 2318 Woodward!This home is full of potential and appears solid, offering the perfect opportunity for an owner-occupant, investor, or handyman ready to bring their vision to life. Featuring a peaceful, country-like setting with a serene feel, yet conveniently located close to city amenities, this property offers the best of both worlds. Located in the desirable Parchment School District, this home could make an excellent starter home, rental property, or renovation project. Bring your tools and imagination and build instant sweat equity. With some updates and improvements, this property has the potential to truly shine!Best suited for cash or renovation financing buyers. Excellent opportunity for investors, flippers, or buyers looking to build sweat equity in a peaceful setting close to city amenities.

2. 2026-05-30
   days on market $49,900 Active 17 DOM
3. 2026-05-13
   listed $64,900 Active 848-char remark

   Show marketing remark (834 chars)

   Opportunity Awaits at 2318 Woodward!This home is full of potential and appears solid, offering the perfect opportunity for an owner-occupant, investor, or handyman ready to bring their vision to life. Featuring a peaceful, country-like setting with a serene feel, yet conveniently located close to city amenities, this property offers the best of both worlds. Located in the desirable Parchment School District, this home could make an excellent starter home, rental property, or renovation project. Bring your tools and imagination and build instant sweat equity. With some updates and improvements, this property has the potential to truly shine!Best suited for cash or renovation financing buyers. Excellent opportunity for investors, flippers, or buyers looking to build sweat equity in a peaceful setting close to city amenities.

4. 2026-05-13
   listed $64,900 Active 834-char remark

   Show marketing remark (834 chars)

   Opportunity Awaits at 2318 Woodward!This home is full of potential and appears solid, offering the perfect opportunity for an owner-occupant, investor, or handyman ready to bring their vision to life. Featuring a peaceful, country-like setting with a serene feel, yet conveniently located close to city amenities, this property offers the best of both worlds. Located in the desirable Parchment School District, this home could make an excellent starter home, rental property, or renovation project. Bring your tools and imagination and build instant sweat equity. With some updates and improvements, this property has the potential to truly shine!Best suited for cash or renovation financing buyers. Excellent opportunity for investors, flippers, or buyers looking to build sweat equity in a peaceful setting close to city amenities.

5. 2026-05-13
   listed $64,900 Active

   Show marketing remark (834 chars)

   Opportunity Awaits at 2318 Woodward!This home is full of potential and appears solid, offering the perfect opportunity for an owner-occupant, investor, or handyman ready to bring their vision to life. Featuring a peaceful, country-like setting with a serene feel, yet conveniently located close to city amenities, this property offers the best of both worlds. Located in the desirable Parchment School District, this home could make an excellent starter home, rental property, or renovation project. Bring your tools and imagination and build instant sweat equity. With some updates and improvements, this property has the potential to truly shine!Best suited for cash or renovation financing buyers. Excellent opportunity for investors, flippers, or buyers looking to build sweat equity in a peaceful setting close to city amenities.

6. 2014-09-15
   historical
7. 2006-05-17
   soldstatus $45,000
8. 2005-10-07
   historical
9. 2005-04-07
   listed $44,900
10. 2005-04-07
    listed $44,900

ⓘ 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: $1,483 · $124/mo
• Projected year-2 tax: $1,483 · $124/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: $12,567
• − Mortgage interest: −$2,795
• − Property taxes: −$1,483
• − Insurance: −$250
• − Repairs & maintenance: −$1,005
• − Management: −$1,005
• − Depreciation: −$1,452
• Taxable income: $4,577
• Est. tax owed @ 24.0%: −$1,099
• After-tax cash flow: $3,957/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 — 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

• 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

-13.1% since first listed

20 events — show timeline

• 2026-06-11 Sold (MLS) $39,000 MiRealSource-MiMLS
• 2026-06-11 Sold (MLS) $39,000 REALCOMP
• 2026-06-11 Sold (MLS) $39,000 SW Michigan MLS
• 2026-05-31 Pending — REALCOMP
• 2026-05-31 Pending — MiRealSource-MiMLS
• 2026-05-31 Pending — SW Michigan MLS
• 2026-05-28 Price Changed $49,900 MiRealSource-MiMLS
• 2026-05-28 Price Changed $49,900 REALCOMP
• 2026-05-27 Price Changed $49,900 SW Michigan MLS
• 2026-05-20 Price Changed $55,000 MiRealSource-MiMLS
• 2026-05-20 Price Changed $55,000 REALCOMP
• 2026-05-19 Price Changed $55,000 SW Michigan MLS
• 2026-05-13 Listed $64,900 MiRealSource-MiMLS
• 2026-05-13 Listed $64,900 REALCOMP
• 2026-05-13 Listed $64,900 SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2006-05-17 Sold (Public Records) $45,000 Public Records
• 2005-10-07 Listing Removed — REALCOMP
• 2005-04-07 Listed $44,900 REALCOMP
• 2005-04-07 Listed $44,900 SW Michigan MLS

Property tax history

+3.6%/yr

Latest (2025): $1,483 · +0.9% YoY. Source: county tax records.