107 N Lakeview Ave · Sturgis, MI 49091

$119,900

3 bd · 1.5 ba · 1,799 sqft · SingleFamily public records · 59 Days on market

Built 1940 7,405 sqft lot $67/sqft · 33% below area Est $179k · 33% under

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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 +18.0/30.0
• ARV discount +15.0/15.0
• 1% rule +6.3/10.0
• DSCR +5.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A multiple offer situation exists. HIGHEST & BEST DUE 4/15/2026 12 pm EST )107 N Lakeview Ave Sturgis MI 49091 3 bed 1 1/2 bathroom home for sale with fireplace in living room and detached 2 car garage. Freddie Mac First Look Initiative through 04/04/26. During this time only owner-occupant buyers, approved nonprofits, and public entities will be considered. Investor offers will be reviewed after the First Look period expires. Buyer must sign owner-occupant certification. Contact Richard Stewart REO Specialists Llc 269-345-7000 or visit www. RichardStewart.com

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1940

Tags

• FIREPLACE IN LIVING ROOM
• DETACHED 2 CAR GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.8% in Sturgis — 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 73/100 on livability (#226 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime D-, amenities F.
• Sturgis Public Schools (town): math 20% / reading 32% proficiency, ranked #413 of 540 in MI (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 117 active listings in the ZIP; 125 units permitted in St. Joseph County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• St. Joseph County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 5y 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 $100k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 1.13% ✓
• Cap rate: 7.32%
• Cash-on-cash: 3.66%
• DSCR: 1.16
• GRM: 7.4

CMA / ARV

• ARV (median comp): $179,066
• List price: $119,900
• Delta: -33.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
504 E Chicago Rd	0.24mi	3/1.5	1,700 (-6%)	2mo	$225,000	$132	78
208 E Electric Ct	0.29mi	3/2.0	1,728 (-4%)	5mo	$190,000	$110	74
605 E West St	0.17mi	3/2.0	1,600 (-11%)	6mo	$44,500	$28	67
413 E Congress St	0.41mi	3/2.0	1,680 (-7%)	2mo	$165,000	$98	66
219 S Lakeview St	0.27mi	4/1.0 (+1)	1,679 (-7%)	4mo	$148,000	$88	66
702 N Nottawa St	0.66mi	3/2.0	1,782 (-1%)	1mo	$182,000	$102	65
300 Maplecrest Ave	0.34mi	3/2.5	1,628 (-10%)	3mo	$230,000	$141	62
606 N Fourth St	0.64mi	4/2.0 (+1)	1,871 (+4%)	1mo	$215,000	$115	56
402 N 4th St	0.46mi	4/2.5 (+1)	1,664 (-8%)	6mo	$200,000	$120	52
405 Michigan Ave	0.37mi	3/2.0	1,531 (-15%)	7mo	$200,000	$131	50
701 N Nottawa St	0.63mi	4/1.0 (+1)	1,680 (-7%)	8mo	$90,000	$54	46
115 N Monroe St	0.46mi	4/2.5 (+1)	2,018 (+12%)	9mo	$70,000	$35	42

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: -10.5%
• Equity multiple: 0.62×
• Total profit: $-12,807
• Equity at exit: $17,877

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-2,331
• Equity at exit: $10,367

Cash invested: $33,572 (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 49091

• Active inventory: 117
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,355 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$289 /mo · $3,472/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $102

Break-even live

Break-even rent $1,225

Max offer price $119,900

Occupancy floor 87%

Sensitivity live

Price	-10% $170	-5% $136	+0% $102	+5% $68	+10% $34
Rent	-10% $-5	-5% $49	+0% $102	+5% $156	+10% $209
Rate	-1.0pp $163	-0.5pp $133	base $102	+0.5pp $71	+1.0pp $40

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-05-06
   status Pending 572-char remark

   Show marketing remark (572 chars)

   A multiple offer situation exists. HIGHEST & BEST DUE 4/15/2026 12 pm EST )107 N Lakeview Ave Sturgis MI 49091 3 bed 1 1/2 bathroom home for sale with fireplace in living room and detached 2 car garage. Freddie Mac First Look Initiative through 04/04/26. During this time only owner-occupant buyers, approved nonprofits, and public entities will be considered. Investor offers will be reviewed after the First Look period expires. Buyer must sign owner-occupant certification. Contact Richard Stewart REO Specialists Llc 269-345-7000 or visit www. RichardStewart.com

2. 2026-05-06
   status Pending 572-char remark

   Show marketing remark (572 chars)

   A multiple offer situation exists. HIGHEST & BEST DUE 4/15/2026 12 pm EST )107 N Lakeview Ave Sturgis MI 49091 3 bed 1 1/2 bathroom home for sale with fireplace in living room and detached 2 car garage. Freddie Mac First Look Initiative through 04/04/26. During this time only owner-occupant buyers, approved nonprofits, and public entities will be considered. Investor offers will be reviewed after the First Look period expires. Buyer must sign owner-occupant certification. Contact Richard Stewart REO Specialists Llc 269-345-7000 or visit www. RichardStewart.com

3. 2026-05-06
   status Pending

   Show marketing remark (572 chars)

   A multiple offer situation exists. HIGHEST & BEST DUE 4/15/2026 12 pm EST )107 N Lakeview Ave Sturgis MI 49091 3 bed 1 1/2 bathroom home for sale with fireplace in living room and detached 2 car garage. Freddie Mac First Look Initiative through 04/04/26. During this time only owner-occupant buyers, approved nonprofits, and public entities will be considered. Investor offers will be reviewed after the First Look period expires. Buyer must sign owner-occupant certification. Contact Richard Stewart REO Specialists Llc 269-345-7000 or visit www. RichardStewart.com

4. 2026-03-05
   listed $119,900 Active 572-char remark

   Show marketing remark (572 chars)

   A multiple offer situation exists. HIGHEST & BEST DUE 4/15/2026 12 pm EST )107 N Lakeview Ave Sturgis MI 49091 3 bed 1 1/2 bathroom home for sale with fireplace in living room and detached 2 car garage. Freddie Mac First Look Initiative through 04/04/26. During this time only owner-occupant buyers, approved nonprofits, and public entities will be considered. Investor offers will be reviewed after the First Look period expires. Buyer must sign owner-occupant certification. Contact Richard Stewart REO Specialists Llc 269-345-7000 or visit www. RichardStewart.com

5. 2026-03-05
   listed $119,900 Active 572-char remark

   Show marketing remark (572 chars)

   A multiple offer situation exists. HIGHEST & BEST DUE 4/15/2026 12 pm EST )107 N Lakeview Ave Sturgis MI 49091 3 bed 1 1/2 bathroom home for sale with fireplace in living room and detached 2 car garage. Freddie Mac First Look Initiative through 04/04/26. During this time only owner-occupant buyers, approved nonprofits, and public entities will be considered. Investor offers will be reviewed after the First Look period expires. Buyer must sign owner-occupant certification. Contact Richard Stewart REO Specialists Llc 269-345-7000 or visit www. RichardStewart.com

6. 2026-03-05
   listed $119,900 Active

   Show marketing remark (572 chars)

   A multiple offer situation exists. HIGHEST & BEST DUE 4/15/2026 12 pm EST )107 N Lakeview Ave Sturgis MI 49091 3 bed 1 1/2 bathroom home for sale with fireplace in living room and detached 2 car garage. Freddie Mac First Look Initiative through 04/04/26. During this time only owner-occupant buyers, approved nonprofits, and public entities will be considered. Investor offers will be reviewed after the First Look period expires. Buyer must sign owner-occupant certification. Contact Richard Stewart REO Specialists Llc 269-345-7000 or visit www. RichardStewart.com

7. 2025-08-12
   historical
8. 2025-08-12
   listed $109,900 Active
9. 2025-08-11
   listed $109,900 Active
10. 2021-09-28
    soldstatus $100,000
11. 2021-09-24
    soldstatus $100,000 Sold
12. 2021-09-24
    soldstatus $100,000 Sold
13. 2021-09-24
    soldstatus $100,000
14. 2021-07-28
    historical
15. 2021-07-28
    listed $100,000
16. 2021-07-28
    historical
17. 2021-07-28
    listed $100,000
18. 2021-07-28
    listed $100,000

ⓘ 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: $3,472 · $289/mo
• Projected year-2 tax: $3,472 · $289/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 ≥99°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: $16,259
• − Mortgage interest: −$6,716
• − Property taxes: −$3,472
• − Insurance: −$600
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$3,488
• Taxable loss: −$619
• Est. tax savings @ 24.0%: +$148
• After-tax cash flow: $1,376/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: Sturgis Public Schools
• NCES district ID: 2633090
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $40,702
• Composite: 21.95/100
• National rank: #8220
• State rank: #413 of 540 in MI

Livability — Sturgis

• Score: 73/100
• State rank: #226
• US rank: #5687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sturgis, MI
• Population (ZIP): 19,448

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 58,726 people
• By 2030: 57,030 · -2.9%
• By 2040: 53,266 · -9.3%
• By 2050: 49,343 · -16.0%
• By 2075: 40,441 · -31.1%
• By 2100: 31,981 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 18% Two or more races 12% Native American 1%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Italian 10% Romanian 4% Iranian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 79% English-only · Spanish 16% German/W. Germanic 4%

Political lean MEDSL · St. Joseph

• 2024 margin: Solid R (+34.0) · D 32.2% · R 66.2% · Other 1.5%
• 2008→2024 swing: -31.8pp toward R · 2008: -2.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+31.7 2016: R+31.0 2012: R+12.3 2008: R+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.64%
• Current HPI: 205.9474
• Rent YoY: —
• Metro: —
• 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

+19.9% since first listed

18 events — show timeline

• 2026-05-06 Pending — MiRealSource-MiMLS
• 2026-05-06 Pending — REALCOMP
• 2026-05-06 Pending — SW Michigan MLS
• 2026-03-05 Listed $119,900 SW Michigan MLS
• 2026-03-05 Listed $119,900 REALCOMP
• 2026-03-05 Listed $119,900 MiRealSource-MiMLS
• 2025-08-12 Listing Removed — MiRealSource-MiMLS
• 2025-08-12 Listed $109,900 REALCOMP
• 2025-08-11 Listed $109,900 MiRealSource-MiMLS
• 2021-09-28 Sold (Public Records) $100,000 Public Records
• 2021-09-24 Sold (MLS) $100,000 MiRealSource-MiMLS
• 2021-09-24 Sold (MLS) $100,000 SW Michigan MLS
• 2021-09-24 Sold (MLS) $100,000 REALCOMP
• 2021-07-28 Listing Removed — SW Michigan MLS
• 2021-07-28 Listed $100,000 MiRealSource-MiMLS
• 2021-07-28 Listed $100,000 SW Michigan MLS
• 2021-07-28 Listing Removed — REALCOMP
• 2021-07-28 Listed $100,000 REALCOMP

Property tax history

+4.8%/yr

Latest (2025): $3,472 · +4.0% YoY. Source: county tax records.