3621 Kenbrooke Ct #77 · Kalamazoo, MI 49006

$89,900

1 bd · 1.0 ba · 960 sqft · Condo · 15 Days on market

Built 1960 Fair condition $242/mo HOA · 23% of rent

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Why this score? — see what drove the D 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 +10.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• DSCR +3.0/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Close to WMU and K-College this condo is a great investment. End unit that features a great room space on the main floor and large upstairs bedroom with 2 closets upstairs. Sliders off the living room to a private patio. The building does have laundry facilities. Ample parking . Clubhouse and pool available to condo. Great rental or owner occupied. Walk to campus and the bus line.

Key facts

• Laundry facilities
• Clubhouse
• End unit

Tags

• END UNIT
• GREAT ROOM SPACE
• PRIVATE PATIO
• LAUNDRY FACILITIES
• AMPLE PARKING
• CLUBHOUSE

Property features AI

Finance

• HOA & community: Monthly association fee of $242; Association allows pets; Storage available through association

Exterior

• Utilities: Natural gas water heater
• Home design: Residential condominium; Other architectural style
• Construction: Built in 1960; Brick and vinyl siding construction
• Exterior features: Public water

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Two total rooms; Basement (other)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-47 ($-559/yr) — negative.
• To cash-flow at today's rent, offer at most $83k (7.5% below list).
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $83k (7.5% below list) — sets the bar for cash-flow.
• Cap rate 5.7% 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 (+3.4%/yr); 105 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $622 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.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 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: HOA is 23% of rent.

Recommended offer $83,156 (7.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 5.67%
• Cash-on-cash: -2.22%
• DSCR: 0.90
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.39% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.33×
• Total profit: $-16,965
• Equity at exit: $13,404

10-year hold

• IRR: -10.3%
• Equity multiple: 0.35×
• Total profit: $-16,243
• Equity at exit: $7,773

Cash invested: $25,172 (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 49006

• Rents YoY: 3.4%
• Active inventory: 105
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,034 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$242
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $-47

Break-even live

Break-even rent $1,093

Max offer price $83,156

Occupancy floor 100%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3409 W Michigan Ave Unit 1 Kalamazoo, MI	2.0	1.5	884	$985	$1.11	13d	1	0.12mi
3614 Stadium Dr Kalamazoo, MI	1.0–3.0	1.0–2.0	928	$1,099	$1.18	13d	1	0.30mi
4130 W Michigan Ave Kalamazoo, MI	1.0–2.0	1.0–2.0	625	$610	$0.98	13d	4	0.38mi
1201 Greenwood Ave Unit 1 Kalamazoo, MI	2.0	2.0	1000	$1,200	$1.20	21d	1	0.46mi
4346 N Hills Dr Kalamazoo, MI	2.0–4.0	2.0–4.0	1093	$440	$0.40	21d	1	0.49mi
1010 Emajean St Kalamazoo, MI	2.0–4.0	1.0–3.0	1249	$440	$0.35	21d	1	0.52mi
4520 Dover Hills Dr Kalamazoo, MI	1.0–2.0	1.0–2.0	987	$1,185	$1.20	13d	12	0.65mi
332 S Kendall Ave Kalamazoo, MI	1.0–2.0	1.0–2.0	780	$975	$1.25	21d	4	0.91mi
704 S Drake Rd Kalamazoo, MI	1.0–3.0	1.0–1.5	887	$870	$0.98	13d	16	0.99mi
125 S Kendall Ave Kalamazoo, MI	1.0–2.0	1.0–1.5	735	$875	$1.19	21d	6	1.06mi
1400 Concord Pl Dr Kalamazoo, MI	2.0	1.0	557	$876	$1.57	13d	46	1.18mi
320 S Drake Rd Kalamazoo, MI	2.0	1.0	950	$1,020	$1.07	21d	1	1.25mi
690 Dragonfly Rd Kalamazoo, MI	1.0–3.0	1.0–2.0	969	$765	$0.79	13d	32	1.25mi
318 N Sage St Kalamazoo, MI	1.0–2.0	1.0	824	$1,025	$1.24	13d	3	1.33mi
3420 W Main St Kalamazoo, MI	2.0	1.5–2.0	852	$1,085	$1.27	13d	4	1.34mi
1800 S 11th St Kalamazoo, MI	1.0–2.0	1.0	635	$799	$1.26	21d	9	1.36mi
1842 S 11th St Kalamazoo, MI	1.0	1.0	547	$975	$1.78	13d	1	1.37mi
5500 W KL Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	836	$999	$1.19	13d	1	1.37mi
5540 W Michigan Ave Kalamazoo, MI	—	1.0	950	$600	$0.63	21d	1	1.41mi
136 S Berkley St Kalamazoo, MI	2.0	1.0	840	$1,195	$1.42	21d	1	1.48mi

HOA detail condo

• Monthly dues: $242 · $2,904/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $89,900 Active 15 DOM
2. 2026-06-17
   days on market $89,900 Active 14 DOM
3. 2026-06-16
   days on market $89,900 Active 13 DOM
4. 2026-06-15
   days on market $89,900 Active 12 DOM
5. 2026-06-14
   days on market $89,900 Active 10 DOM
6. 2026-06-13
   days on market $89,900 Active 9 DOM
7. 2026-06-10
   days on market $89,900 Active 7 DOM
8. 2026-06-09
   days on market $89,900 Active 6 DOM
9. 2026-06-08
   days on market $89,900 Active 5 DOM
10. 2026-06-07
    days on market $89,900 Active 4 DOM
11. 2026-06-05
    remarks 383-char remark
12. 2026-06-05
    listed $89,900 Active 1 DOM

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

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: $12,405
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$992
• − Management: −$992
• − HOA: −$2,904
• − Depreciation: −$2,615
• Taxable loss: −$1,933
• Est. tax savings @ 24.0%: +$464
• After-tax cash flow: $-95/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This condo requires moderate updates to kitchen cabinets and exterior paint to improve its condition and value.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Minor bathroom fixtures — standard fixtures, no visible damage

Value-add opportunities

• Both update kitchen cabinets — modernizing kitchen and increasing appeal
• Both paint exterior — enhances curb appeal and value
• Both update bathroom fixtures — modernizing bathroom and increasing appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
bathroom fixtures · standard fixtures, no visible damage	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both update kitchen cabinets — modernizing kitchen and increasing appeal ↑
• Both paint exterior — enhances curb appeal and value ↑
• Both update bathroom fixtures — modernizing bathroom and increasing appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 26,507
• Household income: $43,639
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2581.0

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 0.55)
• Race & ethnicity: White 65% Black 14% Two or more races 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 6% Romanian 4% Italian 3%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -235.52%
• Current HPI: 243.4367
• Rent YoY: ▲ 3.39%
• 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

3 events — show timeline

• 2026-06-03 Listed $89,900 MiRealSource-MiMLS
• 2026-06-03 Listed $89,900 REALCOMP
• 2026-06-03 Listed $89,900 SW Michigan MLS