1123 Egleston Ave · Kalamazoo, MI 49001

$150,000

3 bd · 2.0 ba · 1,886 sqft · SingleFamily public records · 10 Days on market

Built 1905 3,920 sqft lot Est $196k · 24% under

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Fantastic corner lot duplex conveniently located near Portage Rd, a short drive to 94 highway, and less than 10 minutes from Western University. This duplex has a 2nd floor 1 bed, 1 bath unit with great views, large rooms, and a lounge worthy sunroom. The large 1st floor 2 bed 1 bath unit boasts a well sized living room, dinning room, large kitchen with an island-like feature, a full footprint basement for additional storage, and a laundry space. Both units have a 1 stall garage, front and back entry, well finished original hardwood floors, and access to a shared fenced in yard. Key updates would be a recently replaced water heater, new garage door and opener, well maintained landscaping, and a 9 year old roof. Both units are currently occupied with a long term main floor tenant at almost 12 years!! Adding to your portfolio or buying your first, this is a great priced opportunity to have.

Key facts

• Corner lot duplex
• Laundry space
• New garage door

Tags

• CORNER LOT DUPLEX
• FULL FOOTPRINT BASEMENT
• LAUNDRY SPACE
• RECENTLY REPLACED WATER HEATER
• NEW GARAGE DOOR
• WELL MAINTAINED LANDSCAPING

Property features AI

Finance

• Other: Located in Hays Park subdivision
• Financial info: Property marketed as residential income (multi-family); Unit rents listed: Lower-level unit $875, Upper-level unit $850
• HOA & community: No HOA information provided

Exterior

• Parking: Attached or detached garage (concrete); Total of 4 parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Phone available/connected
• Home design: Multi-family residential property; Two-story building (upper and lower units)
• Construction: Vinyl siding; Composition roof; Full basement
• Exterior features: Corner lot; Paved public road access; Deck/patio for units; Sidewalks in the neighborhood

Interior

• Bedrooms: Lower-level 2-bedroom unit; Upper-level 1-bedroom unit
• Bathrooms: Lower-level unit: 1 bathroom; Upper-level unit: 1 bathroom
• Heating & cooling: Central air; Window air conditioning unit(s); Forced air heating (natural gas)
• Interior features: Built-in storage
• Laundry & utility: Washer/dryer hookup (lower-level unit); Laundry area located in the basement

🏷️ Possibly a rental listed for sale. The $150,000 price doesn't fit this home's estimated sale value (~$196,144) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $696 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 11.9% vs local median 4.2% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• At $2,423/mo this rent would consume 52% of the median local household income ($56k/yr) (locally 1184% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 22 sale attempts since 17y 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 $125k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,000

Questions for the listing agent

1. Built in 1905 — 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. 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: 1.62% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.87%
• DSCR: 1.88
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $196,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1002 Egleston Ave	0.11mi	3/2.0	1,978 (+5%)	8mo	$130,000	$66	80
1122 Egleston Ave	0.03mi	4/2.5 (+1)	1,800 (-5%)	9mo	$150,000	$83	76
1109 Hays Park Ave	0.13mi	4/2.0 (+1)	1,760 (-7%)	7mo	$75,000	$43	72
1310 Washington Ave	0.16mi	2/1.5 (-1)	1,952 (+4%)	10mo	$157,000	$80	72
1113 Egleston Ave	0.02mi	4/1.5 (+1)	1,611 (-15%)	1mo	$180,000	$112	66
910 Miller Rd	0.71mi	3/2.0	1,907 (+1%)	1mo	$201,000	$105	64
1518 Fair St	0.38mi	4/1.5 (+1)	1,922 (+2%)	12mo	$200,000	$104	63
1006 Hays Park Ave	0.17mi	4/2.0 (+1)	1,613 (-14%)	1mo	$185,000	$115	62
1024 Clinton Ave	0.12mi	3/2.5	1,632 (-14%)	11mo	$199,000	$122	61
1512 Fulford St	0.38mi	2/1.0 (-1)	1,956 (+4%)	13mo	$68,000	$35	56
1324 Jackson St	0.43mi	3/2.0	1,630 (-14%)	8mo	$200,000	$123	50
1515 Fulton St	0.57mi	2/1.0 (-1)	1,960 (+4%)	11mo	$145,000	$74	49

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: 16.2%
• Equity multiple: 1.68×
• Total profit: $28,740
• Equity at exit: $22,365

10-year hold

• IRR: 27.4%
• Equity multiple: 3.87×
• Total profit: $120,514
• Equity at exit: $12,969

Cash invested: $42,000 (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: 5.2×

Monthly cashflow live

• Estimated rent: $2,423 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$369 /mo · $4,432/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $696

Break-even live

Break-even rent $1,542

Max offer price $150,000

Occupancy floor 66%

Sensitivity live

Price	-10% $780	-5% $738	+0% $696	+5% $653	+10% $611
Rent	-10% $504	-5% $600	+0% $696	+5% $791	+10% $887
Rate	-1.0pp $771	-0.5pp $734	base $696	+0.5pp $657	+1.0pp $617

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	22d	1	1.07mi
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	14d	2	1.08mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	14d	1	1.30mi
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	14d	12	1.36mi

Listing history 8 events

1. 2026-06-21
   days on market $150,000 Active 10 DOM
2. 2026-06-18
   days on market $150,000 Active 7 DOM
3. 2026-06-17
   days on market $150,000 Active 6 DOM
4. 2026-06-16
   days on market $150,000 Active 5 DOM
5. 2026-06-15
   days on market $150,000 Active 4 DOM
6. 2026-06-14
   days on market $150,000 Active 2 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $150,000 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: $4,432 · $369/mo
• Projected year-2 tax: $4,432 · $369/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 3/10 Moderate 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: $29,073
• − Mortgage interest: −$8,402
• − Property taxes: −$4,432
• − Insurance: −$750
• − Repairs & maintenance: −$2,326
• − Management: −$2,326
• − Depreciation: −$4,364
• Taxable income: $6,474
• Est. tax owed @ 24.0%: −$1,554
• After-tax cash flow: $6,793/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

Price history

+200.6% since first listed

48 events — show timeline

• 2026-06-11 Listed $150,000 REALCOMP
• 2026-06-11 Listed $150,000 MiRealSource-MiMLS
• 2025-06-01 Listing Removed — MiRealSource-MiMLS
• 2025-05-27 Relisted — MiRealSource-MiMLS
• 2025-05-27 Relisted — REALCOMP
• 2025-05-07 Pending — REALCOMP
• 2025-05-07 Pending — MiRealSource-MiMLS
• 2025-05-07 Listing Removed — REALCOMP
• 2025-04-23 Relisted — REALCOMP
• 2025-04-09 Listing Removed — REALCOMP
• 2025-04-07 Listed $154,900 REALCOMP
• 2025-04-03 Listed $154,900 MiRealSource-MiMLS
• 2024-08-15 Listing Removed — MiRealSource-MiMLS
• 2024-08-15 Listing Removed — REALCOMP
• 2024-05-23 Price Changed $150,000 MiRealSource-MiMLS
• 2024-05-23 Price Changed $150,000 REALCOMP
• 2024-05-22 Price Changed $150,000 SW Michigan MLS
• 2024-03-27 Relisted — REALCOMP
• 2024-03-27 Relisted — MiRealSource-MiMLS
• 2024-03-12 Listed $156,000 MiRealSource-MiMLS
• 2024-03-12 Listing Removed — MiRealSource-MiMLS
• 2024-03-12 Listing Removed — REALCOMP
• 2024-03-12 Listed $156,000 REALCOMP
• 2022-08-31 Sold (MLS) $125,000 MiRealSource-MiMLS
• 2022-08-31 Sold (MLS) $125,000 SW Michigan MLS
• 2022-08-31 Sold (MLS) $125,000 REALCOMP
• 2022-08-29 Pending — REALCOMP
• 2022-06-26 Pending — SW Michigan MLS
• 2022-04-28 Listed $129,500 MiRealSource-MiMLS
• 2022-04-28 Listed $129,500 SW Michigan MLS
• 2022-04-28 Listed $129,500 REALCOMP
• 2014-10-20 Listing Removed — SW Michigan MLS
• 2014-09-18 Listing Removed — SW Michigan MLS
• 2014-07-24 Sold (Public Records) $48,000 Public Records
• 2014-05-18 Listing Removed — SW Michigan MLS
• 2014-05-18 Listing Removed — REALCOMP
• 2014-05-18 Listing Removed — SW Michigan MLS
• 2014-01-23 Listed $44,900 SW Michigan MLS
• 2014-01-23 Listed $44,900 REALCOMP
• 2014-01-23 Listed $44,900 SW Michigan MLS
• 2012-05-22 Listing Removed — REALCOMP
• 2011-11-22 Listed $50,000 REALCOMP
• 2011-11-22 Listed $50,000 SW Michigan MLS
• 2011-11-22 Listed $50,000 SW Michigan MLS
• 2009-08-11 Sold (MLS) $48,000 REALCOMP
• 2009-08-11 Sold (MLS) $48,000 SW Michigan MLS
• 2009-03-18 Listed $49,900 REALCOMP
• 2009-03-18 Listed $49,900 SW Michigan MLS

Property tax history

+9.7%/yr

Latest (2025): $4,432 · +0.8% YoY. Source: county tax records.