814 Central Pl · Kalamazoo, MI 49008

$134,900

4 bd · 2.0 ba · 1,816 sqft · SingleFamily public records · 15 Days on market

Built 1886 3,049 sqft lot Est $174k · 23% 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 +28.9/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large 4-5 bedroom two story home near WMU and K College. Some recent updates. Does appear to have some plumbing damage. All utilities are off so bring a flashlight. Electric will require a City inspection being its been off longer than 12 months. Great Value for the area! This information is deemed reliable but not guaranteed and therefore should be verified by purchaser (s) and or licensed inspector(s) Listing broker makes no warranties or claims as to property condition. Seller is exempt form disclosure. Homestead exemption subject to change prior to closing. Seller reserves the right to counter best and highest in multiple offer situations.

Key facts

• 3,049 sq ft lot
• Garage
• Built 1886

Property features AI

Exterior

• Parking: Detached garage; 1-car garage
• Utilities: Public water; Natural gas for water heater
• Home design: Traditional style; Single-family residence; Residential property
• Construction: Built in 1886; Vinyl siding
• Exterior features: Asphalt roof; 0.07-acre lot; Public water

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: 7 total rooms; Full basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% 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 (+2.4%/yr); 116 active listings in the ZIP; 3 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).
• This rent runs 32% of the median local income ($75k/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 $933 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 + 2.4% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 22y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,876 (1.5% below list)

Questions for the listing agent

1. Built in 1886 — 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: 1.49% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.49%
• DSCR: 1.64
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $174,336
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
442 W Dutton St	0.15mi	4/2.0	1,928 (+6%)	2mo	$249,900	$130	81
819 Oak St	0.06mi	5/2.0 (+1)	1,674 (-8%)	2mo	$159,900	$96	77
807 W Vine St	0.16mi	5/2.0 (+1)	1,732 (-5%)	4mo	$185,000	$107	77
306 W Dutton St	0.26mi	3/2.0 (-1)	1,864 (+3%)	4mo	$105,000	$56	75
806 S Park St	0.18mi	5/2.5 (+1)	1,888 (+4%)	8mo	$252,500	$134	72
608 Minor Ave	0.11mi	5/2.0 (+1)	1,954 (+8%)	8mo	$59,000	$30	71
424 Oak St	0.31mi	5/2.0 (+1)	1,706 (-6%)	2mo	$160,000	$94	69
431 Park Pl	0.26mi	4/2.0	1,930 (+6%)	14mo	$240,000	$124	66
820 W Vine St	0.18mi	4/2.0	1,568 (-14%)	11mo	$149,000	$95	59
414 Davis St	0.39mi	5/1.5 (+1)	1,724 (-5%)	12mo	$164,000	$95	56
725 Academy St	0.48mi	5/2.0 (+1)	2,009 (+11%)	9mo	$246,650	$123	48
435 Skirrow Pl	0.27mi	3/1.0 (-1)	2,088 (+15%)	8mo	$149,900	$72	47

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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: 4.2%
• Equity multiple: 1.16×
• Total profit: $6,150
• Equity at exit: $20,114

10-year hold

• IRR: 13.2%
• Equity multiple: 2.02×
• Total profit: $38,565
• Equity at exit: $11,664

Cash invested: $37,772 (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 49008

• Rents YoY: 2.4%
• Active inventory: 116
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,009 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$367 /mo · $4,409/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $456

Break-even live

Break-even rent $1,432

Max offer price $134,900

Occupancy floor 72%

Sensitivity live

Price	-10% $532	-5% $494	+0% $456	+5% $418	+10% $380
Rent	-10% $297	-5% $377	+0% $456	+5% $535	+10% $615
Rate	-1.0pp $524	-0.5pp $490	base $456	+0.5pp $421	+1.0pp $385

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	14d	12	0.02mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	21d	1	0.60mi
722 W Kalamazoo Ave Unit 2 Kalamazoo, MI	3.0	1.0	1800	$1,600	$0.89	21d	1	0.74mi

Listing history 12 events

1. 2026-06-18
   days on market $134,900 Active 15 DOM
2. 2026-06-17
   days on market $134,900 Active 14 DOM
3. 2026-06-16
   days on market $134,900 Active 13 DOM
4. 2026-06-15
   days on market $134,900 Active 12 DOM
5. 2026-06-14
   days on market $134,900 Active 10 DOM
6. 2026-06-13
   days on market $134,900 Active 9 DOM
7. 2026-06-10
   days on market $134,900 Active 7 DOM
8. 2026-06-09
   days on market $134,900 Active 6 DOM
9. 2026-06-08
   days on market $134,900 Active 5 DOM
10. 2026-06-07
    days on market $134,900 Active 4 DOM
11. 2026-06-03
    remarks 651-char remark

    Show marketing remark (651 chars)

    Large 4-5 bedroom two story home near WMU and K College. Some recent updates. Does appear to have some plumbing damage. All utilities are off so bring a flashlight. Electric will require a City inspection being its been off longer than 12 months. Great Value for the area! This information is deemed reliable but not guaranteed and therefore should be verified by purchaser (s) and or licensed inspector(s) Listing broker makes no warranties or claims as to property condition. Seller is exempt form disclosure. Homestead exemption subject to change prior to closing. Seller reserves the right to counter best and highest in multiple offer situations.

12. 2026-06-03
    listed $134,900 Active 1 DOM

    Show marketing remark (651 chars)

    Large 4-5 bedroom two story home near WMU and K College. Some recent updates. Does appear to have some plumbing damage. All utilities are off so bring a flashlight. Electric will require a City inspection being its been off longer than 12 months. Great Value for the area! This information is deemed reliable but not guaranteed and therefore should be verified by purchaser (s) and or licensed inspector(s) Listing broker makes no warranties or claims as to property condition. Seller is exempt form disclosure. Homestead exemption subject to change prior to closing. Seller reserves the right to counter best and highest in multiple offer situations.

ⓘ 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: $4,409 · $367/mo
• Projected year-2 tax: $4,409 · $367/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: $24,108
• − Mortgage interest: −$7,556
• − Property taxes: −$4,409
• − Insurance: −$674
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − Depreciation: −$3,924
• Taxable income: $3,686
• Est. tax owed @ 24.0%: −$885
• After-tax cash flow: $4,587/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): 16,137
• Household income: $74,943
• Rent vs Own: 33.8% rent · 66.2% own
• Severe rent burden: 513.0

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 (75%)
• Race & ethnicity: White 75% Black 12% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Iranian 5% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -170.52%
• Current HPI: 230.6876
• Rent YoY: ▲ 2.41%
• 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

+45.2% since first listed

49 events — show timeline

• 2026-06-03 Listed $134,900 REALCOMP
• 2026-06-03 Listed $134,900 SW Michigan MLS
• 2026-06-03 Listed $134,900 MiRealSource-MiMLS
• 2023-01-19 Sold (Public Records) $137,900 Public Records
• 2023-01-06 Sold (MLS) $137,900 SW Michigan MLS
• 2023-01-06 Sold (MLS) $137,900 REALCOMP
• 2022-12-09 Pending — MiRealSource-MiMLS
• 2022-12-08 Pending — REALCOMP
• 2022-12-08 Pending — SW Michigan MLS
• 2022-11-16 Relisted — REALCOMP
• 2022-11-16 Relisted — MiRealSource-MiMLS
• 2022-11-16 Relisted — SW Michigan MLS
• 2022-10-20 Listing Removed — SW Michigan MLS
• 2022-10-12 Pending — MiRealSource-MiMLS
• 2022-10-12 Pending — REALCOMP
• 2022-10-12 Pending — SW Michigan MLS
• 2022-10-07 Listing Removed — MiRealSource-MiMLS
• 2022-10-07 Listing Removed — REALCOMP
• 2022-09-13 Listed $137,900 SW Michigan MLS
• 2022-09-13 Listed $137,900 REALCOMP
• 2022-09-02 Listed $137,900 MiRealSource-MiMLS
• 2021-02-16 Sold (Public Records) $104,900 Public Records
• 2021-01-27 Sold (MLS) $104,900 MiRealSource-MiMLS
• 2021-01-27 Sold (MLS) $104,900 SW Michigan MLS
• 2021-01-27 Sold (MLS) $104,900 REALCOMP
• 2020-12-23 Pending — SW Michigan MLS
• 2020-11-23 Price Changed $109,900 SW Michigan MLS
• 2020-11-10 Sold (Public Records) $76,000 Public Records
• 2020-10-26 Price Changed $119,900 SW Michigan MLS
• 2020-10-16 Listed $109,900 MiRealSource-MiMLS
• 2020-10-16 Listed $129,900 SW Michigan MLS
• 2020-10-16 Listed $109,900 REALCOMP
• 2014-09-25 Listing Removed — SW Michigan MLS
• 2014-09-24 Listing Removed — SW Michigan MLS
• 2007-03-22 Sold (Public Records) $87,500 Public Records
• 2007-02-28 Sold (MLS) $87,500 REALCOMP
• 2007-02-28 Sold (MLS) $87,500 SW Michigan MLS
• 2006-12-24 Listing Removed — REALCOMP
• 2006-12-24 Listed $93,500 REALCOMP
• 2006-12-24 Listed $93,500 SW Michigan MLS
• 2006-06-24 Listed $95,000 REALCOMP
• 2006-06-24 Listed $95,000 SW Michigan MLS
• 2005-03-09 Sold (MLS) $84,000 REALCOMP
• 2005-03-09 Sold (MLS) $84,000 SW Michigan MLS
• 2004-07-16 Listed $84,900 REALCOMP
• 2004-07-16 Listed $84,900 SW Michigan MLS
• 2004-07-13 Listing Removed — REALCOMP
• 2004-01-13 Listed $92,900 REALCOMP
• 2004-01-13 Listed $92,900 SW Michigan MLS

Property tax history

+14.8%/yr

Latest (2025): $4,409 · +10.9% YoY. Source: county tax records.