1415 Sherwood Ave · Kalamazoo, MI 49048

$179,900

5 bd · 2.0 ba · 1,928 sqft · SingleFamily public records · 45 Days on market

Built 1900 8,276 sqft lot Est $195k · 8% 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 +22.0/30.0
• ARV discount +10.9/15.0
• DSCR +7.0/10.0
• 1% rule +5.3/10.0
• Schools +4.7/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor-ready opportunity at 1415 Sherwood Ave in Kalamazoo! This city-certified duplex (valid through 12/30/26) generates $2,075/month in rent with tenants paying utilities--offering strong cash flow from day one. The property features a nice, functional layout and numerous updates that support low maintenance and tenant appeal. Currently professionally managed by Icon Management, with the option to continue for a seamless transition. Whether you're expanding your portfolio or entering the market, this well-performing asset checks the boxes for stability, convenience, and value.

Key facts

• 8,276 sq ft lot
• 4 parking spots
• Built 1900

Property features AI

Finance

• Other: Income information by unit: Unit 1 (2 bed) rent $1,000; Unit 2 (3 bed) rent $1,075
• Financial info: Annual tax listed

Exterior

• Parking: Total of 4 parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Multi-family residential property
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 8,276 sq ft (62 x 132), about 0.19 acre

Interior

• Bedrooms: One unit with 3 bedrooms (Unit 2); One unit with 2 bedrooms (Unit 1)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Basement present

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 (+7.9%/yr); 154 active listings in the ZIP; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 37% of the median local income ($60k/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 $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.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $50k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y 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 $8k; list at $180k implies a 2177% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1900 — 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. 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?
5. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.83%
• DSCR: 1.30
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $194,728
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
903 Southworth Ter	0.21mi	4/2.0 (-1)	1,722 (-11%)	3mo	$179,900	$104	65
605 Trimble Ave	0.22mi	4/2.5 (-1)	1,851 (-4%)	16mo	$161,000	$87	63
407 Phelps Ave	0.19mi	4/2.0 (-1)	1,650 (-14%)	2mo	$189,900	$115	61
1403 Center St	0.30mi	4/1.5 (-1)	2,036 (+6%)	16mo	$205,000	$101	56
601 Chicago Ave	0.44mi	4/2.5 (-1)	1,750 (-9%)	2mo	$218,000	$125	55
523 Horace Ave	0.07mi	4/2.0 (-1)	1,648 (-14%)	19mo	$72,000	$44	52
2402 E Main St	0.72mi	5/2.0	1,996 (+4%)	11mo	$225,000	$113	51
1001 Hazard Ave	0.32mi	4/1.5 (-1)	2,052 (+6%)	19mo	$112,500	$55	51
620 Ira Ave	0.69mi	4/1.0 (-1)	1,771 (-8%)	6mo	$114,000	$64	40
546 Washburn Ave	0.63mi	4/1.0 (-1)	1,640 (-15%)	1mo	$196,500	$120	36
2425 Schippers Ln	0.73mi	5/3.0	1,750 (-9%)	16mo	$107,749	$62	34
822 Gibson St	0.70mi	4/2.0 (-1)	1,806 (-6%)	23mo	$147,000	$81	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 · 7.88% rent growth · sell at horizon

5-year hold

• IRR: -0.7%
• Equity multiple: 0.97×
• Total profit: $-1,413
• Equity at exit: $26,824

10-year hold

• IRR: 13.4%
• Equity multiple: 2.30×
• Total profit: $65,351
• Equity at exit: $15,554

Cash invested: $50,372 (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 49048

• Rents YoY: 7.9%
• Active inventory: 154
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,845 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$152 /mo · $1,829/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $287

Break-even live

Break-even rent $1,482

Max offer price $179,900

Occupancy floor 79%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $179,900 Active 45 DOM
2. 2026-06-17
   days on market $179,900 Active 44 DOM
3. 2026-06-16
   days on market $179,900 Active 43 DOM
4. 2026-06-15
   days on market $179,900 Active 42 DOM
5. 2026-06-14
   days on market $179,900 Active 40 DOM
6. 2026-06-13
   days on market $179,900 Active 39 DOM
7. 2026-06-10
   days on market $179,900 Active 37 DOM
8. 2026-06-09
   days on market $179,900 Active 36 DOM
9. 2026-06-08
   days on market $179,900 Active 35 DOM
10. 2026-06-07
    days on market $179,900 Active 34 DOM
11. 2026-06-05
    days on market $179,900 Active 31 DOM
12. 2026-06-03
    days on market $179,900 Active 30 DOM
13. 2026-06-02
    days on market $179,900 Active 29 DOM
14. 2026-06-01
    days on market $179,900 Active 28 DOM
15. 2026-05-31
    days on market $179,900 Active 27 DOM
16. 2026-05-30
    days on market $179,900 Active 26 DOM
17. 2026-05-04
    listed $179,900 Active 587-char remark

    Show marketing remark (587 chars)

    Investor-ready opportunity at 1415 Sherwood Ave in Kalamazoo! This city-certified duplex (valid through 12/30/26) generates $2,075/month in rent with tenants paying utilities--offering strong cash flow from day one. The property features a nice, functional layout and numerous updates that support low maintenance and tenant appeal. Currently professionally managed by Icon Management, with the option to continue for a seamless transition. Whether you're expanding your portfolio or entering the market, this well-performing asset checks the boxes for stability, convenience, and value.

18. 2026-05-04
    listed $179,900 Active

    Show marketing remark (587 chars)

    Investor-ready opportunity at 1415 Sherwood Ave in Kalamazoo! This city-certified duplex (valid through 12/30/26) generates $2,075/month in rent with tenants paying utilities--offering strong cash flow from day one. The property features a nice, functional layout and numerous updates that support low maintenance and tenant appeal. Currently professionally managed by Icon Management, with the option to continue for a seamless transition. Whether you're expanding your portfolio or entering the market, this well-performing asset checks the boxes for stability, convenience, and value.

19. 2010-10-22
    soldstatus $7,900 769-char remark

    Show marketing remark (769 chars)

    Bank Owned. Eastside 2 unit. 2 gas meters, separate furnaces, 1 electric meter. Seller is selling The Property AS IS''. Buyer is welcome to conduct inspections as provided herein and withdraw from the Agreement in the time provided should Buyer discover anything in the inspections unsatisfactory, in Buyer's sole judgment. However, Seller will not conduct any repairs or provide any remediation or negotiate the sale price under any circumstances. If Buyer wishes to purchase The Property, it will be in the condition in which The Property currently exists at the price currently negotiated. The provisions of this paragraph shall supersede any conflicting provisions in this Agreement. Buyer to verify all data. See more photos of this Foreclosure at www.REOmamma.com

20. 2010-06-14
    listed $7,900 769-char remark

    Show marketing remark (769 chars)

    Bank Owned. Eastside 2 unit. 2 gas meters, separate furnaces, 1 electric meter. Seller is selling The Property AS IS''. Buyer is welcome to conduct inspections as provided herein and withdraw from the Agreement in the time provided should Buyer discover anything in the inspections unsatisfactory, in Buyer's sole judgment. However, Seller will not conduct any repairs or provide any remediation or negotiate the sale price under any circumstances. If Buyer wishes to purchase The Property, it will be in the condition in which The Property currently exists at the price currently negotiated. The provisions of this paragraph shall supersede any conflicting provisions in this Agreement. Buyer to verify all data. See more photos of this Foreclosure at www.REOmamma.com

ⓘ 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: $1,829 · $152/mo
• Projected year-2 tax: $2,300 · $192/mo
• Expected delta: +$471/yr (+$39/mo · 25.7%)

ⓘ 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 ≥100°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: $22,137
• − Mortgage interest: −$10,077
• − Property taxes: −$1,829
• − Insurance: −$900
• − Repairs & maintenance: −$1,771
• − Management: −$1,771
• − Depreciation: −$5,233
• Taxable income: $556
• Est. tax owed @ 24.0%: −$133
• After-tax cash flow: $3,305/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): 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

+2177.2% since first listed

4 events — show timeline

• 2026-05-04 Listed $179,900 REALCOMP
• 2026-05-04 Listed $179,900 MiRealSource-MiMLS
• 2010-10-22 Sold (MLS) $7,900 SW Michigan MLS
• 2010-06-14 Listed $7,900 SW Michigan MLS

Property tax history

+2.9%/yr

Latest (2025): $1,829 · +3.0% YoY. Source: county tax records.