1850 S Burdick St · Kalamazoo, MI 49001

$104,900

3 bd · 1.5 ba · 1,388 sqft · SingleFamily · 260 Days on market

Built 1921 3,485 sqft lot Est $182k · 42% under

---

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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1850 S Burdick St Kalamazoo MI 49001 Move in ready 3 bedroom 1.5 bath home for sale with attached 1 car garge. Richard Stewart REAL BROKER LLC 269-217-0411 www. RichardStewart. Com

Key facts

• 3,485 sq ft lot
• Garage
• Built 1921

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $472 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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-.
• 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 rising fast (+6.4%/yr); 109 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 32% of the median local income ($56k/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 $725 of loan paydown is wiped out by about $3k 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 + 6.4% rent growth), your $29k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 260 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — 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: 1.44% ✓
• Cap rate: 11.69%
• Cash-on-cash: 19.27%
• DSCR: 1.86
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $181,828
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1317 John St	0.38mi	4/2.0 (+1)	1,428 (+3%)	0mo	$187,000	$131	70
110 Ravinia St	0.58mi	3/1.5	1,409 (+2%)	1mo	$280,000	$199	69
1411 Oak St	0.56mi	3/2.0	1,389 (+0%)	6mo	$79,900	$58	67
2133 S Burdick St	0.26mi	4/2.0 (+1)	1,519 (+9%)	1mo	$240,000	$158	64
128 E Belmont St	0.13mi	4/1.0 (+1)	1,223 (-12%)	4mo	$115,000	$94	64
1606 Merrill St	0.63mi	3/1.0	1,344 (-3%)	3mo	$291,000	$217	61
2327 Outlook St	0.37mi	3/2.0	1,568 (+13%)	2mo	$193,000	$123	57
726 Forest St	0.68mi	4/1.5 (+1)	1,437 (+4%)	2mo	$133,000	$93	56
2313 S Westnedge Ave	0.44mi	4/2.0 (+1)	1,540 (+11%)	5mo	$240,000	$156	50
734 E Stockbridge Ave	0.70mi	4/1.0 (+1)	1,294 (-7%)	1mo	$45,000	$35	49
453 Fairview Ave Ave	0.72mi	2/1.0 (-1)	1,293 (-7%)	4mo	$160,000	$124	44
729 Edgemoor Ave	0.74mi	4/2.0 (+1)	1,514 (+9%)	4mo	$286,000	$189	40

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 · 6.41% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 1.63×
• Total profit: $18,445
• Equity at exit: $15,641

10-year hold

• IRR: 26.2%
• Equity multiple: 3.67×
• Total profit: $78,502
• Equity at exit: $9,070

Cash invested: $29,372 (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 49001

• Rents YoY: 6.4%
• Active inventory: 109
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,515 high
• Mortgage (P&I): −$550
• Tax est. 1.5%: −$131 /mo · $1,574/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $472

Break-even live

Break-even rent $918

Max offer price $104,900

Occupancy floor 64%

Sensitivity live

Price	-10% $544	-5% $508	+0% $472	+5% $435	+10% $399
Rent	-10% $352	-5% $412	+0% $472	+5% $532	+10% $591
Rate	-1.0pp $525	-0.5pp $498	base $472	+0.5pp $445	+1.0pp $417

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1512 S Burdick St Kalamazoo, MI	3.0	1.0	887	$1,250	$1.41	14d	1	0.24mi
2002 S Westnedge Ave Kalamazoo, MI	2.0	1.0	900	$1,250	$1.39	22d	2	0.40mi
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	22d	1	0.69mi
2725 S Burdick St Kalamazoo, MI	2.0	1.0	1000	$1,250	$1.25	14d	1	0.69mi
23 Ridgewood St Kalamazoo, MI	2.0	1.0	1100	$1,295	$1.18	22d	1	0.73mi
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	14d	12	0.86mi
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	14d	2	0.94mi
611 Whites Rd Kalamazoo, MI	1.0–2.0	1.0	963	$1,449	$1.50	14d	4	1.06mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	14d	1	1.25mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	22d	1	1.34mi
816 W Main St Kalamazoo, MI	3.0	1.0	1005	$1,100	$1.09	22d	1	1.44mi
544 Denway Cir Kalamazoo, MI	1.0–2.0	1.0	850	$1,050	$1.24	22d	1	1.45mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	22d	1	1.46mi

Listing history 3 events

1. 2026-06-18
   days on market $104,900 Active 260 DOM
2. 2026-06-17
   remarks 180-char remark
3. 2026-06-17
   listed $104,900 Active 259 DOM

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

Taxation est. · year 1

• Rental income: $18,177
• − Mortgage interest: −$5,876
• − Property taxes: −$1,574
• − Insurance: −$524
• − Repairs & maintenance: −$1,454
• − Management: −$1,454
• − Depreciation: −$3,052
• Taxable income: $4,243
• Est. tax owed @ 24.0%: −$1,018
• After-tax cash flow: $4,643/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): 20,946
• Household income: $56,432
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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 0.59)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 15% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 6% Iranian 4% Slovak 3%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 11% Arabic 2% Other Indo-European 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: ▼ -264.90%
• Current HPI: 206.9355
• Rent YoY: ▲ 6.41%
• 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