7275 Helen · Paw Paw Lake, MI 49038

$109,900

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 2 Days on market

Built 1955 0.26 ac lot Est $176k · 38% under

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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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bed, 1-bath cottage minutes from Paw Paw Lake in peaceful Coloma. Set on a rare double lot, the property offers room to garden, play, or plan future additions. Inside, the cozy floor plan features a big living room, eat-in kitchen, and three comfortable bedrooms. Home does need a bit of TLC--perfect chance to add your style and build equity. Huge shed keeps all the lake toys, tools, and lawn gear organized. Whether you're dreaming of a weekend retreat, year-round residence, or investment, this cottage delivers small-town charm, generous outdoor space, and endless potential at an affordable price. Schedule your tour today and let your imagination take it from here!

Key facts

• Huge shed
• Double lot
• Outdoor space

Tags

• DOUBLE LOT
• ROOM TO GARDEN
• HUGE SHED
• OUTDOOR SPACE

Property features AI

Exterior

• Utilities: Well water
• Home design: Ranch-style single family home; Single-story
• Construction: Built in 1955; Vinyl siding; Asphalt roof; Crawl space foundation
• Exterior features: Paved road access; Storage shed on the property

Interior

• Kitchen: Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Total of 6 rooms; Refrigerator included; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $444 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 11.1% vs local median 2.5% in Paw Paw Lake — 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 66/100 on livability (#420 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools F, amenities F, commute F.
• Coloma Community Schools (town): math 17% / reading 39% proficiency, ranked #384 of 540 in MI (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 43 active listings in the ZIP; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Berrien County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.34% ✓
• Cap rate: 11.14%
• Cash-on-cash: 17.32%
• DSCR: 1.77
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $176,400
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7273 Sylvester	0.06mi	2/1.0	924 (-8%)	13mo	$219,000	$237	73
7234 Sylvester	0.11mi	3/1.0 (+1)	1,008 (0%)	24mo	$176,000	$175	70
6185 N Shore Dr	0.29mi	3/1.0 (+1)	964 (-4%)	12mo	$220,000	$228	65
6020 Johnson Rd	0.04mi	3/1.5 (+1)	1,064 (+6%)	24mo	$115,000	$108	62
7141 Little Paw Paw Lake Rd	0.36mi	3/1.0 (+1)	1,040 (+3%)	20mo	$180,000	$173	56
6820 Cherry St	0.73mi	3/1.0 (+1)	1,124 (+12%)	8mo	$135,000	$120	35
5598 Johnson Rd	0.48mi	3/2.0 (+1)	1,112 (+10%)	23mo	$230,000	$207	33

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: 8.7%
• Equity multiple: 1.34×
• Total profit: $10,481
• Equity at exit: $16,386

10-year hold

• IRR: 17.9%
• Equity multiple: 2.48×
• Total profit: $45,542
• Equity at exit: $9,502

Cash invested: $30,772 (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 49038

• Active inventory: 43
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,469 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$94 /mo · $1,126/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $444

Break-even live

Break-even rent $906

Max offer price $109,900

Occupancy floor 65%

Sensitivity live

Price	-10% $506	-5% $475	+0% $444	+5% $413	+10% $382
Rent	-10% $328	-5% $386	+0% $444	+5% $502	+10% $560
Rate	-1.0pp $500	-0.5pp $472	base $444	+0.5pp $416	+1.0pp $387

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-14
   status $109,900 Pending 2 DOM
2. 2026-06-13
   days on market $109,900 Active 2 DOM
3. 2026-06-12
   remarks 683-char remark
4. 2026-06-12
   listed $109,900 Active 1 DOM

ⓘ 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: $1,126 · $94/mo
• Projected year-2 tax: $1,409 · $117/mo
• Expected delta: +$283/yr (+$24/mo · 25.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,624
• − Mortgage interest: −$6,156
• − Property taxes: −$1,126
• − Insurance: −$550
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$3,197
• Taxable income: $3,775
• Est. tax owed @ 24.0%: −$906
• After-tax cash flow: $4,425/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: Coloma Community Schools
• NCES district ID: 2610380
• Math proficiency: 17% ▼ -5.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $48,135
• Composite: 24.28/100
• National rank: #7715
• State rank: #384 of 540 in MI

Livability — Paw Paw Lake

• Score: 66/100
• State rank: #420
• US rank: #11496

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Paw Paw Lake, MI
• Population (ZIP): 8,577

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 9% Black 6% Hispanic / Latino 4%
• Common ancestry: Italian 4% Romanian 4% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -149.33%
• Current HPI: 237.5873
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-11 Listed $109,900 REALCOMP
• 2026-06-11 Listed $109,900 MiRealSource-MiMLS
• 2026-06-11 Listed $109,900 SW Michigan MLS

Property tax history

+4.3%/yr

Latest (2024): $1,126 · +9.2% YoY. Source: county tax records.