506 Cooper Ave · Eastwood, MI 49048

$40,000

1 bd · 1.0 ba · 572 sqft · SingleFamily public records · 27 Days on market

Built 1930 7,405 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the charm and potential of this cozy 1-bedroom, 1-bathroom home nestled in the heart of Kalamazoo's established Eastwood neighborhood. Built in 1930, this home offers a unique opportunity for first-time buyers or savvy investors looking to capitalize on a property with character and a generous 7,400+ sq. ft. lot. The expansive backyard provides the perfect canvas for gardening, outdoor entertaining, or potential future expansions. Ideally located with easy access to local amenities and the vibrant energy of downtown Kalamazoo, 506 Cooper Ave combines affordability with the peaceful atmosphere of a dog-friendly, sidewalk-lined community. Whether you're looking to downsize into a manageable footprint or seeking your next renovation project, this diamond in the rough is ready for your personal touch. Sold as is. Buyer and agent to verify all information.

Key facts

• Expansive backyard
• Local amenities
• 7,405 sq ft lot

Tags

• EXPANSIVE BACKYARD
• LOCAL AMENITIES
• DOG-FRIENDLY COMMUNITY

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry; Located in the SHERWOOD PARK subdivision; Cross streets: Charles Ave & Kennilworth Ave
• Construction: Wood siding exterior; Brick/mortar foundation
• Exterior features: Paved road access; Lot approximately 0.17 acres (49.5 x 154.5)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No air conditioning
• Interior features: Unfinished basement; One total room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $468 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#187 in MI, #4,713 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, 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 (+7.9%/yr); 154 active listings in the ZIP; 12 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $277 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 + 7.9% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 3.4% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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.
5. 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.
6. 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: 2.56% ✓
• Cap rate: 20.32%
• Cash-on-cash: 50.11%
• DSCR: 3.23
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $102,388
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
532 Chicago Ave	0.09mi	2/1.0 (+1)	600 (+5%)	10mo	$147,000	$245	74
620 Charlotte Ave	0.66mi	2/1.0 (+1)	608 (+6%)	0mo	$105,000	$173	53
1427 Charles Ave	0.52mi	2/1.0 (+1)	625 (+9%)	11mo	$99,900	$160	46
551 Arthur Ave	0.35mi	1/1.0	496 (-13%)	19mo	$89,000	$179	46
1504 Woodrow Dr	0.74mi	2/1.0 (+1)	588 (+3%)	14mo	$137,500	$234	44

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 · 7.88% rent growth · sell at horizon

5-year hold

• IRR: 53.8%
• Equity multiple: 3.56×
• Total profit: $28,633
• Equity at exit: $5,964

10-year hold

• IRR: 61.0%
• Equity multiple: 8.81×
• Total profit: $87,445
• Equity at exit: $3,458

Cash invested: $11,200 (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 49048

• Rents YoY: 7.9%
• Active inventory: 154
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,023 high
• Mortgage (P&I): −$210
• Tax from tax record: −$114 /mo · $1,371/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $468

Break-even live

Break-even rent $431

Max offer price $40,000

Occupancy floor 49%

Sensitivity live

Price	-10% $490	-5% $479	+0% $468	+5% $456	+10% $445
Rent	-10% $387	-5% $427	+0% $468	+5% $508	+10% $549
Rate	-1.0pp $488	-0.5pp $478	base $468	+0.5pp $457	+1.0pp $447

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 Washburn Ave Kalamazoo, MI	2.0	1.0	720	$1,300	$1.81	21d	1	0.17mi
1809 Humphrey St Unit 12 Kalamazoo, MI	1.0	1.0	634	$805	$1.27	14d	1	0.61mi
3025 E Main St Unit 5 Kalamazoo, MI	1.0	1.0	450	$695	$1.54	14d	1	0.70mi
1536 Henson Ave Unit 4 Kalamazoo, MI	2.0	1.0	575	$995	$1.73	21d	1	0.79mi
1104 Sherwood Ave Apt 3 Kalamazoo, MI	—	1.0	500	$780	$1.56	21d	1	0.82mi
1928 Colgrove Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	912	$975	$1.07	14d	13	1.01mi
708 Mills St Unit 7 Kalamazoo, MI	1.0	1.0	600	$875	$1.46	14d	1	1.08mi
2024 Sunnyside Dr Kalamazoo, MI	1.0–2.0	1.0	740	$850	$1.15	14d	1	1.19mi
525 E Ransom St Kalamazoo, MI	1.0–2.0	1.0–2.0	807	$462	$0.57	21d	1	1.30mi
1332 Poplar Pl Apt 2 Kalamazoo, MI	2.0	1.0	545	$800	$1.47	21d	1	1.43mi
1010 Washington Ave Kalamazoo, MI	1.0	1.0	484	$775	$1.60	21d	1	1.47mi
815 N Pitcher St Unit 8 Kalamazoo, MI	—	1.0	457	$950	$2.08	21d	1	1.49mi

Listing history 11 events

1. 2026-06-09
   status $40,000 Pending 27 DOM
2. 2026-06-08
   days on market $40,000 Active 27 DOM
3. 2026-06-07
   days on market $40,000 Active 26 DOM
4. 2026-06-05
   days on market $40,000 Active 23 DOM
5. 2026-06-03
   days on market $40,000 Active 22 DOM
6. 2026-06-02
   days on market $40,000 Active 21 DOM
7. 2026-06-01
   days on market $40,000 Active 20 DOM
8. 2026-05-31
   days on market $40,000 Active 19 DOM
9. 2026-05-30
   days on market $40,000 Active 18 DOM
10. 2026-05-12
    listed $40,000 Active

    Show marketing remark (872 chars)

    Discover the charm and potential of this cozy 1-bedroom, 1-bathroom home nestled in the heart of Kalamazoo's established Eastwood neighborhood. Built in 1930, this home offers a unique opportunity for first-time buyers or savvy investors looking to capitalize on a property with character and a generous 7,400+ sq. ft. lot. The expansive backyard provides the perfect canvas for gardening, outdoor entertaining, or potential future expansions. Ideally located with easy access to local amenities and the vibrant energy of downtown Kalamazoo, 506 Cooper Ave combines affordability with the peaceful atmosphere of a dog-friendly, sidewalk-lined community. Whether you're looking to downsize into a manageable footprint or seeking your next renovation project, this diamond in the rough is ready for your personal touch. Sold as is. Buyer and agent to verify all information.

11. 2026-05-12
    listed $40,000 Active 872-char remark

    Show marketing remark (872 chars)

    Discover the charm and potential of this cozy 1-bedroom, 1-bathroom home nestled in the heart of Kalamazoo's established Eastwood neighborhood. Built in 1930, this home offers a unique opportunity for first-time buyers or savvy investors looking to capitalize on a property with character and a generous 7,400+ sq. ft. lot. The expansive backyard provides the perfect canvas for gardening, outdoor entertaining, or potential future expansions. Ideally located with easy access to local amenities and the vibrant energy of downtown Kalamazoo, 506 Cooper Ave combines affordability with the peaceful atmosphere of a dog-friendly, sidewalk-lined community. Whether you're looking to downsize into a manageable footprint or seeking your next renovation project, this diamond in the rough is ready for your personal touch. Sold as is. Buyer and agent to verify all information.

ⓘ 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: $1,371 · $114/mo
• Projected year-2 tax: $1,371 · $114/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 ≥98°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: $12,279
• − Mortgage interest: −$2,241
• − Property taxes: −$1,371
• − Insurance: −$200
• − Repairs & maintenance: −$982
• − Management: −$982
• − Depreciation: −$1,164
• Taxable income: $5,339
• Est. tax owed @ 24.0%: −$1,281
• After-tax cash flow: $4,331/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 — Eastwood

• Score: 74/100
• State rank: #187
• US rank: #4713

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastwood, MI
• County: Kalamazoo County · 224,317 people
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 22,791
• Household income: $60,454
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 835.0

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 (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 6% Romanian 4% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% 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: ▼ -205.26%
• Current HPI: 180.4766
• Rent YoY: ▲ 7.88%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-12 Listed $40,000 MiRealSource-MiMLS
• 2026-05-12 Listed $40,000 REALCOMP

Property tax history

+10.4%/yr

Latest (2025): $1,371 · +8.8% YoY. Source: county tax records.