528 Potter St · Kalamazoo, MI 49007

$89,900

2 bd · 2.0 ba · 1,552 sqft · SingleFamily public records · 119 Days on market

Built 1910 2,178 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Downtown opportunity for customization for your personal house, flip, or an income property. The property is NOT in the historic district! Two story shell is ideal as a 3-4 bedroom home or a duplex. The house needs to be renovated. CASH ''AS IS'' OFFERS ONLY.

Key facts

• 2,178 sq ft lot
• Built 1910
• Listed 119 days

Property features AI

Exterior

• Utilities: Public water; Natural gas available and connected; Electricity available
• Home design: Traditional single-family residence; 1,552 sq. ft. living area; Built in 1910
• Construction: Wood siding; Year built: 1910
• Exterior features: Paved road access; Lot approximately 0.05 acres

Interior

• Bathrooms: 2 full bathrooms
• Interior features: 9 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $778 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.7% 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 soft (-0.8%/yr); 77 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• At $1,741/mo this rent would consume 53% of the median local household income ($39k/yr) (locally 816% 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 $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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 31y 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 $24k; list at $90k implies a 278% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.94% ✓
• Cap rate: 16.68%
• Cash-on-cash: 37.08%
• DSCR: 2.65
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $184,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
519 Walnut Ct	0.16mi	3/1.0 (+1)	1,344 (-13%)	1mo	$162,600	$121	60
704 W Lovell	0.26mi	3/1.5 (+1)	1,632 (+5%)	16mo	$195,000	$119	59
819 Oakland Dr	0.56mi	3/2.0 (+1)	1,510 (-3%)	7mo	$125,000	$83	58
314 Douglas Ave	0.73mi	3/2.0 (+1)	1,543 (-1%)	15mo	$195,000	$126	48
938 Bellevue Pl	0.44mi	3/1.0 (+1)	1,402 (-10%)	13mo	$107,500	$77	43
1411 Oak St	0.65mi	3/2.0 (+1)	1,389 (-10%)	6mo	$79,900	$58	43
806 Elmwood St	0.73mi	3/1.5 (+1)	1,480 (-5%)	11mo	$205,000	$139	42
815 Elmwood St	0.71mi	3/1.5 (+1)	1,475 (-5%)	12mo	$175,000	$119	42
608 W Ransom St	0.73mi	3/1.0 (+1)	1,464 (-6%)	8mo	$111,900	$76	40
623 Mccourtie St	0.63mi	3/1.5 (+1)	1,439 (-7%)	13mo	$110,500	$77	40
514 Forest St	0.53mi	3/1.5 (+1)	1,323 (-15%)	6mo	$130,000	$98	38
812 Wheaton Ave	0.51mi	3/1.0 (+1)	1,334 (-14%)	9mo	$167,500	$126	36

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 2.19×
• Total profit: $29,887
• Equity at exit: $13,404

10-year hold

• IRR: 35.2%
• Equity multiple: 3.79×
• Total profit: $70,153
• 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 49007

• Rents YoY: -0.8%
• Active inventory: 77
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,741 high
• Mortgage (P&I): −$471
• Tax from tax record: −$88 /mo · $1,061/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $778

Break-even live

Break-even rent $756

Max offer price $89,900

Occupancy floor 50%

Sensitivity live

Price	-10% $829	-5% $803	+0% $778	+5% $752	+10% $727
Rent	-10% $640	-5% $709	+0% $778	+5% $847	+10% $915
Rate	-1.0pp $823	-0.5pp $801	base $778	+0.5pp $755	+1.0pp $731

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 9 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	$1,908	$1.75	14d	12	0.22mi
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	14d	2	0.33mi
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	21d	1	0.35mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	14d	1	0.42mi
232 Woodward Ave Unit 5 Kalamazoo, MI	2.0	1.0	1400	$999	$0.71	14d	1	0.55mi
722 W Kalamazoo Ave Unit 2 Kalamazoo, MI	3.0	1.0	1800	$1,600	$0.89	21d	1	0.57mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	21d	1	0.59mi
525 E Ransom St Kalamazoo, MI	1.0–2.0	1.0–2.0	807	$1,625	$2.01	21d	1	0.95mi
708 Elizabeth St Kalamazoo, MI	3.0	1.5	1128	$1,250	$1.11	14d	1	1.05mi

Listing history 27 events

1. 2026-06-18
   days on market $89,900 Active 119 DOM
2. 2026-06-17
   days on market $89,900 Active 118 DOM
3. 2026-06-16
   days on market $89,900 Active 117 DOM
4. 2026-06-15
   days on market $89,900 Active 116 DOM
5. 2026-06-14
   days on market $89,900 Active 114 DOM
6. 2026-06-13
   days on market $89,900 Active 113 DOM
7. 2026-06-10
   days on market $89,900 Active 111 DOM
8. 2026-06-09
   days on market $89,900 Active 110 DOM
9. 2026-06-08
   days on market $89,900 Active 109 DOM
10. 2026-06-07
    days on market $89,900 Active 108 DOM
11. 2026-06-05
    days on market $89,900 Active 105 DOM
12. 2026-06-03
    days on market $89,900 Active 104 DOM
13. 2026-06-02
    days on market $89,900 Active 103 DOM
14. 2026-06-01
    days on market $89,900 Active 102 DOM
15. 2026-05-31
    days on market $89,900 Active 101 DOM
16. 2026-05-30
    days on market $89,900 Active 100 DOM
17. 2026-02-19
    listed $89,900 Active 259-char remark

    Show marketing remark (259 chars)

    Downtown opportunity for customization for your personal house, flip, or an income property. The property is NOT in the historic district! Two story shell is ideal as a 3-4 bedroom home or a duplex. The house needs to be renovated. CASH ''AS IS'' OFFERS ONLY.

18. 2026-02-19
    listed $89,900 Active

    Show marketing remark (259 chars)

    Downtown opportunity for customization for your personal house, flip, or an income property. The property is NOT in the historic district! Two story shell is ideal as a 3-4 bedroom home or a duplex. The house needs to be renovated. CASH ''AS IS'' OFFERS ONLY.

19. 2026-02-19
    listed $89,900 Active 259-char remark

    Show marketing remark (259 chars)

    Downtown opportunity for customization for your personal house, flip, or an income property. The property is NOT in the historic district! Two story shell is ideal as a 3-4 bedroom home or a duplex. The house needs to be renovated. CASH ''AS IS'' OFFERS ONLY.

20. 2007-01-12
    soldstatus $23,780
21. 2007-01-12
    soldstatus $23,780
22. 2006-12-12
    listed $25,000
23. 2006-12-12
    listed $25,000
24. 1995-06-10
    soldstatus $25,000
25. 1995-06-10
    soldstatus $25,000
26. 1995-02-28
    listed $28,900
27. 1995-02-28
    listed $28,900

ⓘ 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: $1,061 · $88/mo
• Projected year-2 tax: $1,223 · $102/mo
• Expected delta: +$162/yr (+$13/mo · 15.2%)

ⓘ 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: $20,890
• − Mortgage interest: −$5,036
• − Property taxes: −$1,061
• − Insurance: −$450
• − Repairs & maintenance: −$1,671
• − Management: −$1,671
• − Depreciation: −$2,615
• Taxable income: $8,386
• Est. tax owed @ 24.0%: −$2,013
• After-tax cash flow: $7,322/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): 9,836
• Household income: $39,344
• Rent vs Own: 75.8% rent · 24.2% own
• Severe rent burden: 816.0

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 0.61)
• Race & ethnicity: White 44% Black 44% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1% Arabic 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: ▼ -68.80%
• Current HPI: 112.4973
• Rent YoY: ▼ -0.85%
• 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

+211.1% since first listed

11 events — show timeline

• 2026-02-19 Listed $89,900 REALCOMP
• 2026-02-19 Listed $89,900 SW Michigan MLS
• 2026-02-19 Listed $89,900 MiRealSource-MiMLS
• 2007-01-12 Sold (MLS) $23,780 REALCOMP
• 2007-01-12 Sold (MLS) $23,780 SW Michigan MLS
• 2006-12-12 Listed $25,000 REALCOMP
• 2006-12-12 Listed $25,000 SW Michigan MLS
• 1995-06-10 Sold (MLS) $25,000 REALCOMP
• 1995-06-10 Sold (MLS) $25,000 SW Michigan MLS
• 1995-02-28 Listed $28,900 REALCOMP
• 1995-02-28 Listed $28,900 SW Michigan MLS

Property tax history

-6.5%/yr

Latest (2025): $1,061 · +3.0% YoY. Source: county tax records.