1401 S 2nd St · Mattawan, MI 49009

$180,000

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 21 Days on market

Built 1959 0.91 ac lot Est $177k · at est. ↓ 10% since listing

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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 +13.1/30.0
• ARV discount +6.8/15.0
• Schools +5.1/10.0
• 1% rule +4.0/10.0
• DSCR +3.9/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming Oshtemo home, where comfort meets convenience on a . 91-acre lot. This inviting 3 bedroom, 1 bathroom residence offers the perfect blend of cozy living and everyday functionality; just minutes from parks, dining, shopping, and everything Kalamazoo has to offer. Step inside to discover a warm and welcoming living area, highlighted by a classic wood burning stove that creates the perfect ambiance for relaxing evenings. The space flows seamlessly into the dining area, making it ideal for both daily living and entertaining. The kitchen features plenty of cabinetry and connects effortlessly to the laundry area for added ease and efficiency. Down the hallway, you'll find three comfortable bedrooms and a full bathroom. A versatile bonus room off the living space provides endless possibilitie; whether you envision a home office, media room, or cozy den. Outside, the property truly shines with a detached 3 car garage and an additional storage shed, offering plenty

Key facts

• 0.91 acre lot
• 3 garage spots
• Built 1959

Property features AI

Finance

• Financial info: Home warranty included

Exterior

• Parking: Detached garage; Three garage spaces
• Utilities: Well water
• Home design: Ranch-style single-family home; Built in 1959; One-story
• Construction: Vinyl siding construction; Built in 1959
• Exterior features: Vinyl siding; Lot approximately 0.91 acres; Well water

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Seven total rooms; Partial Michigan-style basement
• Laundry & utility: Washer; Dryer; Home warranty included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-6 ($-76/yr) — negative.
• To cash-flow at today's rent, offer at most $179k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (10.4% below list).
• Recommended offer: $161k (10.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.5% in Mattawan — 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 72/100 on livability (#235 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime D, amenities F, commute F.
• Mattawan Consolidated School (suburban): math 51% / reading 62% proficiency, ranked #50 of 540 in MI (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: Rents falling (-5.0%/yr); 375 active listings in the ZIP; solid renter incomes; 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 $1k of loan paydown is wiped out by about $5k 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 21 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $161,312 (10.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-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. Crime grade is D 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. 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?
7. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $177,096
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1401 S 2nd St	0.00mi	3/1.0	1,128 (0%)	0mo	$177,000	$157	100

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: -20.1%
• Equity multiple: 0.32×
• Total profit: $-34,254
• Equity at exit: $26,839

10-year hold

• IRR: -21.7%
• Equity multiple: 0.04×
• Total profit: $-48,429
• Equity at exit: $15,563

Cash invested: $50,400 (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 49009

• Rents YoY: -5.0%
• Active inventory: 375
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,613 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$262 /mo · $3,142/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $-6

Break-even live

Break-even rent $1,621

Max offer price $178,875

Occupancy floor 95%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-04-28
   status Pending 999-char remark

   Show marketing remark (1236 chars)

   Welcome home to this charming Oshtemo home, where comfort meets convenience on a . 91-acre lot. This inviting 3 bedroom, 1 bathroom residence offers the perfect blend of cozy living and everyday functionality; just minutes from parks, dining, shopping, and everything Kalamazoo has to offer. Step inside to discover a warm and welcoming living area, highlighted by a classic wood burning stove that creates the perfect ambiance for relaxing evenings. The space flows seamlessly into the dining area, making it ideal for both daily living and entertaining. The kitchen features plenty of cabinetry and connects effortlessly to the laundry area for added ease and efficiency. Down the hallway, you'll find three comfortable bedrooms and a full bathroom. A versatile bonus room off the living space provides endless possibilitie; whether you envision a home office, media room, or cozy den. Outside, the property truly shines with a detached 3 car garage and an additional storage shed, offering plentyof room for vehicles, tools, and hobbies. With nearly an acre of land to enjoy, there's space to garden, play, or simply unwind in your own private setting. Don't miss your chance to own this delightful home; schedule your showing today!

2. 2026-04-28
   status Pending 1236-char remark

   Show marketing remark (1236 chars)

   Welcome home to this charming Oshtemo home, where comfort meets convenience on a . 91-acre lot. This inviting 3 bedroom, 1 bathroom residence offers the perfect blend of cozy living and everyday functionality; just minutes from parks, dining, shopping, and everything Kalamazoo has to offer. Step inside to discover a warm and welcoming living area, highlighted by a classic wood burning stove that creates the perfect ambiance for relaxing evenings. The space flows seamlessly into the dining area, making it ideal for both daily living and entertaining. The kitchen features plenty of cabinetry and connects effortlessly to the laundry area for added ease and efficiency. Down the hallway, you'll find three comfortable bedrooms and a full bathroom. A versatile bonus room off the living space provides endless possibilitie; whether you envision a home office, media room, or cozy den. Outside, the property truly shines with a detached 3 car garage and an additional storage shed, offering plentyof room for vehicles, tools, and hobbies. With nearly an acre of land to enjoy, there's space to garden, play, or simply unwind in your own private setting. Don't miss your chance to own this delightful home; schedule your showing today!

3. 2026-04-28
   status Pending

   Show marketing remark (1236 chars)

   Welcome home to this charming Oshtemo home, where comfort meets convenience on a . 91-acre lot. This inviting 3 bedroom, 1 bathroom residence offers the perfect blend of cozy living and everyday functionality; just minutes from parks, dining, shopping, and everything Kalamazoo has to offer. Step inside to discover a warm and welcoming living area, highlighted by a classic wood burning stove that creates the perfect ambiance for relaxing evenings. The space flows seamlessly into the dining area, making it ideal for both daily living and entertaining. The kitchen features plenty of cabinetry and connects effortlessly to the laundry area for added ease and efficiency. Down the hallway, you'll find three comfortable bedrooms and a full bathroom. A versatile bonus room off the living space provides endless possibilitie; whether you envision a home office, media room, or cozy den. Outside, the property truly shines with a detached 3 car garage and an additional storage shed, offering plentyof room for vehicles, tools, and hobbies. With nearly an acre of land to enjoy, there's space to garden, play, or simply unwind in your own private setting. Don't miss your chance to own this delightful home; schedule your showing today!

4. 2026-04-25
   price $180,000 999-char remark

   Show marketing remark (999 chars)

   Welcome home to this charming Oshtemo home, where comfort meets convenience on a . 91-acre lot. This inviting 3 bedroom, 1 bathroom residence offers the perfect blend of cozy living and everyday functionality; just minutes from parks, dining, shopping, and everything Kalamazoo has to offer. Step inside to discover a warm and welcoming living area, highlighted by a classic wood burning stove that creates the perfect ambiance for relaxing evenings. The space flows seamlessly into the dining area, making it ideal for both daily living and entertaining. The kitchen features plenty of cabinetry and connects effortlessly to the laundry area for added ease and efficiency. Down the hallway, you'll find three comfortable bedrooms and a full bathroom. A versatile bonus room off the living space provides endless possibilitie; whether you envision a home office, media room, or cozy den. Outside, the property truly shines with a detached 3 car garage and an additional storage shed, offering plenty

5. 2026-04-24
   price $180,000 1236-char remark

   Show marketing remark (1236 chars)

   Welcome home to this charming Oshtemo home, where comfort meets convenience on a . 91-acre lot. This inviting 3 bedroom, 1 bathroom residence offers the perfect blend of cozy living and everyday functionality; just minutes from parks, dining, shopping, and everything Kalamazoo has to offer. Step inside to discover a warm and welcoming living area, highlighted by a classic wood burning stove that creates the perfect ambiance for relaxing evenings. The space flows seamlessly into the dining area, making it ideal for both daily living and entertaining. The kitchen features plenty of cabinetry and connects effortlessly to the laundry area for added ease and efficiency. Down the hallway, you'll find three comfortable bedrooms and a full bathroom. A versatile bonus room off the living space provides endless possibilitie; whether you envision a home office, media room, or cozy den. Outside, the property truly shines with a detached 3 car garage and an additional storage shed, offering plentyof room for vehicles, tools, and hobbies. With nearly an acre of land to enjoy, there's space to garden, play, or simply unwind in your own private setting. Don't miss your chance to own this delightful home; schedule your showing today!

6. 2026-04-24
   price $180,000

   Show marketing remark (1236 chars)

   Welcome home to this charming Oshtemo home, where comfort meets convenience on a . 91-acre lot. This inviting 3 bedroom, 1 bathroom residence offers the perfect blend of cozy living and everyday functionality; just minutes from parks, dining, shopping, and everything Kalamazoo has to offer. Step inside to discover a warm and welcoming living area, highlighted by a classic wood burning stove that creates the perfect ambiance for relaxing evenings. The space flows seamlessly into the dining area, making it ideal for both daily living and entertaining. The kitchen features plenty of cabinetry and connects effortlessly to the laundry area for added ease and efficiency. Down the hallway, you'll find three comfortable bedrooms and a full bathroom. A versatile bonus room off the living space provides endless possibilitie; whether you envision a home office, media room, or cozy den. Outside, the property truly shines with a detached 3 car garage and an additional storage shed, offering plentyof room for vehicles, tools, and hobbies. With nearly an acre of land to enjoy, there's space to garden, play, or simply unwind in your own private setting. Don't miss your chance to own this delightful home; schedule your showing today!

7. 2026-04-07
   listed $200,000 Active 1236-char remark

   Show marketing remark (999 chars)

   Welcome home to this charming Oshtemo home, where comfort meets convenience on a . 91-acre lot. This inviting 3 bedroom, 1 bathroom residence offers the perfect blend of cozy living and everyday functionality; just minutes from parks, dining, shopping, and everything Kalamazoo has to offer. Step inside to discover a warm and welcoming living area, highlighted by a classic wood burning stove that creates the perfect ambiance for relaxing evenings. The space flows seamlessly into the dining area, making it ideal for both daily living and entertaining. The kitchen features plenty of cabinetry and connects effortlessly to the laundry area for added ease and efficiency. Down the hallway, you'll find three comfortable bedrooms and a full bathroom. A versatile bonus room off the living space provides endless possibilitie; whether you envision a home office, media room, or cozy den. Outside, the property truly shines with a detached 3 car garage and an additional storage shed, offering plenty

8. 2026-04-07
   listed $200,000 Active 999-char remark

   Show marketing remark (999 chars)

   Welcome home to this charming Oshtemo home, where comfort meets convenience on a . 91-acre lot. This inviting 3 bedroom, 1 bathroom residence offers the perfect blend of cozy living and everyday functionality; just minutes from parks, dining, shopping, and everything Kalamazoo has to offer. Step inside to discover a warm and welcoming living area, highlighted by a classic wood burning stove that creates the perfect ambiance for relaxing evenings. The space flows seamlessly into the dining area, making it ideal for both daily living and entertaining. The kitchen features plenty of cabinetry and connects effortlessly to the laundry area for added ease and efficiency. Down the hallway, you'll find three comfortable bedrooms and a full bathroom. A versatile bonus room off the living space provides endless possibilitie; whether you envision a home office, media room, or cozy den. Outside, the property truly shines with a detached 3 car garage and an additional storage shed, offering plenty

9. 2026-04-07
   listed $200,000 Active

   Show marketing remark (999 chars)

   Welcome home to this charming Oshtemo home, where comfort meets convenience on a . 91-acre lot. This inviting 3 bedroom, 1 bathroom residence offers the perfect blend of cozy living and everyday functionality; just minutes from parks, dining, shopping, and everything Kalamazoo has to offer. Step inside to discover a warm and welcoming living area, highlighted by a classic wood burning stove that creates the perfect ambiance for relaxing evenings. The space flows seamlessly into the dining area, making it ideal for both daily living and entertaining. The kitchen features plenty of cabinetry and connects effortlessly to the laundry area for added ease and efficiency. Down the hallway, you'll find three comfortable bedrooms and a full bathroom. A versatile bonus room off the living space provides endless possibilitie; whether you envision a home office, media room, or cozy den. Outside, the property truly shines with a detached 3 car garage and an additional storage shed, offering plenty

ⓘ 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: $3,142 · $262/mo
• Projected year-2 tax: $3,142 · $262/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 3/10 Moderate
• 🌡 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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,357
• − Mortgage interest: −$10,083
• − Property taxes: −$3,142
• − Insurance: −$900
• − Repairs & maintenance: −$1,549
• − Management: −$1,549
• − Depreciation: −$5,236
• Taxable loss: −$3,100
• Est. tax savings @ 24.0%: +$744
• After-tax cash flow: $668/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: Mattawan Consolidated School
• NCES district ID: 2623250
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 62% ▼ -5.00%
• Median HH income: $76,525
• Composite: 50.67/100
• National rank: #1825
• State rank: #50 of 540 in MI

Livability — Mattawan

• Score: 72/100
• State rank: #235
• US rank: #5936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kalamazoo County · 224,317 people
• City population: 11,839
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 47,971
• Household income: $80,930
• Rent vs Own: 35.6% rent · 64.4% own
• Severe rent burden: 1579.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 9% Black 8% Asian 5% Hispanic / Latino 4%
• Common ancestry: Iranian 9% Romanian 6% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 3% Arabic 2% Spanish 2%

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: ▼ -207.34%
• Current HPI: 209.5649
• Rent YoY: ▼ -4.96%
• 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

-10.0% since first listed

9 events — show timeline

• 2026-04-28 Pending — MiRealSource-MiMLS
• 2026-04-28 Pending — REALCOMP
• 2026-04-28 Pending — SW Michigan MLS
• 2026-04-25 Price Changed $180,000 MiRealSource-MiMLS
• 2026-04-24 Price Changed $180,000 REALCOMP
• 2026-04-24 Price Changed $180,000 SW Michigan MLS
• 2026-04-07 Listed $200,000 REALCOMP
• 2026-04-07 Listed $200,000 SW Michigan MLS
• 2026-04-07 Listed $200,000 MiRealSource-MiMLS

Property tax history

+12.5%/yr

Latest (2025): $3,142 · +30.7% YoY. Source: county tax records.