425 S Cedar St · Allegan, MI 49010

$164,900

3 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 24 Days on market

Built 1914 10,149 sqft lot $117/sqft · 10% below area Est $209k · 21% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home qualifies for $10k 'Home Assist Grant' to qualified buyers! Welcome Home to this affordably priced 3-4 bedroom gem. Hilltop setting overlooking the Kalamazoo River. Offering off street parking and garage pad. Enter into front enclosed porch, ideal for porch furniture, additional living space & mudroom. Living room and formal dining room with wood flooring. Main floor bathroom with laundry area & additional space for storage. Oversized kitchen, plenty of cabinets and counter space, small snack bar & nice window overlooking river. Unique main floor den/sunroom/4 season room with walls of windows. Great space with multiple functions. Main floor bedroom with attached (9x8) room which could double as nursery, office or deluxe walk in closet. There are 2 additional bedrooms upstairs. The home has great potential & has a few projects ready for the new buyers and priced accordingly. Roof appears to have recently been recently replaced, many new updated windows. Easy to view.

Key facts

• Hilltop setting
• Front enclosed porch
• Off street parking

Tags

• HILLTOP SETTING
• OFF STREET PARKING
• FRONT ENCLOSED PORCH
• OVERSIZED KITCHEN
• PLENTY OF CABINETS
• SMALL SNACK BAR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $680 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $162k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.6% in Allegan — 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 70/100 on livability (#318 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, employment D+, amenities F.
• Allegan Public Schools (town): math 26% / reading 37% proficiency, ranked #338 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 183 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 419 units permitted in Allegan County in 2024 (0 in 5+ unit buildings).

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 37y 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 $124k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,426 (1.5% below list)

Questions for the listing agent

1. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.40% ✓
• Cap rate: 11.24%
• Cash-on-cash: 17.68%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

• ARV (median comp): $208,671
• List price: $164,900
• Delta: -20.98%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
143 Ely St	0.21mi	2/1.0 (-1)	1,325 (-6%)	7mo	$178,000	$134	70
215 James St	0.34mi	3/1.0	1,591 (+13%)	7mo	$195,000	$123	57
608 Trowbridge St	0.36mi	3/2.0	1,536 (+9%)	11mo	$225,000	$146	55
124 Park Ave	0.65mi	3/1.0	1,320 (-6%)	6mo	$106,000	$80	54
151 Park Ave	0.67mi	3/2.0	1,440 (+2%)	12mo	$245,000	$170	51
319 Pine St	0.45mi	3/1.5	1,596 (+13%)	7mo	$215,000	$135	49
328 Thomas St	0.57mi	3/1.0	1,608 (+14%)	1mo	$328,000	$204	48
211 Western Ave	0.47mi	4/1.5 (+1)	1,591 (+13%)	1mo	$220,000	$138	48
123 Terrace St	0.71mi	3/1.0	1,528 (+8%)	5mo	$200,000	$131	48
104 Grand St	0.61mi	3/3.0	1,328 (-6%)	7mo	$149,000	$112	48
208 Robinson St	0.62mi	3/1.0	1,232 (-12%)	9mo	$206,500	$168	43
211 Lincoln St	0.63mi	4/2.0 (+1)	1,320 (-6%)	11mo	$190,000	$144	42

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.36×
• Total profit: $16,642
• Equity at exit: $24,587

10-year hold

• IRR: 18.3%
• Equity multiple: 2.53×
• Total profit: $70,424
• Equity at exit: $14,258

Cash invested: $46,172 (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 49010

• Home prices YoY: -34.3%
• Active inventory: 183
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,304 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,474/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $680

Break-even live

Break-even rent $1,443

Max offer price $164,900

Occupancy floor 65%

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Monroe St Unit 1 Allegan, MI	3.0	2.0	1700	$2,000	$1.18	21d	1	0.46mi
364 Sherman St Allegan, MI	3.0	2.5	1800	$2,795	$1.55	44d	1	0.97mi
364 Sherman St Allegan, MI	3.0	2.5	1800	$2,495	$1.39	21d	1	0.97mi

Listing history 41 events

1. 2026-05-12
   status Pending 1015-char remark

   Show marketing remark (1016 chars)

   This home qualifies for $10k 'Home Assist Grant' to qualified buyers! Welcome Home to this affordably priced 3-4 bedroom gem. Hilltop setting overlooking the Kalamazoo River. Offering off street parking and garage pad. Enter into front enclosed porch, ideal for porch furniture, additional living space & mudroom. Living room and formal dining room with wood flooring. Main floor bathroom with laundry area & additional space for storage. Oversized kitchen, plenty of cabinets and counter space, small snack bar & nice window overlooking river. Unique main floor den/sunroom/4 season room with walls of windows. Great space with multiple functions. Main floor bedroom with attached (9x8) room which could double as nursery, office or deluxe walk in closet. There are 2 additional bedrooms upstairs. The home has great potential & has a few projects ready for the new buyers and priced accordingly. Roof appears to have recently been recently replaced, many new updated windows. Easy to view.

2. 2026-05-12
   status Pending 1016-char remark

   Show marketing remark (1016 chars)

   This home qualifies for $10k 'Home Assist Grant' to qualified buyers! Welcome Home to this affordably priced 3-4 bedroom gem. Hilltop setting overlooking the Kalamazoo River. Offering off street parking and garage pad. Enter into front enclosed porch, ideal for porch furniture, additional living space & mudroom. Living room and formal dining room with wood flooring. Main floor bathroom with laundry area & additional space for storage. Oversized kitchen, plenty of cabinets and counter space, small snack bar & nice window overlooking river. Unique main floor den/sunroom/4 season room with walls of windows. Great space with multiple functions. Main floor bedroom with attached (9x8) room which could double as nursery, office or deluxe walk in closet. There are 2 additional bedrooms upstairs. The home has great potential & has a few projects ready for the new buyers and priced accordingly. Roof appears to have recently been recently replaced, many new updated windows. Easy to view.

3. 2026-05-12
   status Pending

   Show marketing remark (1016 chars)

   This home qualifies for $10k 'Home Assist Grant' to qualified buyers! Welcome Home to this affordably priced 3-4 bedroom gem. Hilltop setting overlooking the Kalamazoo River. Offering off street parking and garage pad. Enter into front enclosed porch, ideal for porch furniture, additional living space & mudroom. Living room and formal dining room with wood flooring. Main floor bathroom with laundry area & additional space for storage. Oversized kitchen, plenty of cabinets and counter space, small snack bar & nice window overlooking river. Unique main floor den/sunroom/4 season room with walls of windows. Great space with multiple functions. Main floor bedroom with attached (9x8) room which could double as nursery, office or deluxe walk in closet. There are 2 additional bedrooms upstairs. The home has great potential & has a few projects ready for the new buyers and priced accordingly. Roof appears to have recently been recently replaced, many new updated windows. Easy to view.

4. 2026-05-05
   price $164,900 1015-char remark

   Show marketing remark (1015 chars)

   This home qualifies for $10k 'Home Assist Grant' to qualified buyers! Welcome Home to this affordably priced 3-4 bedroom gem. Hilltop setting overlooking the Kalamazoo River. Offering off street parking and garage pad. Enter into front enclosed porch, ideal for porch furniture, additional living space & mudroom. Living room and formal dining room with wood flooring. Main floor bathroom with laundry area & additional space for storage. Oversized kitchen, plenty of cabinets and counter space, small snack bar & nice window overlooking river. Unique main floor den/sunroom/4 season room with walls of windows. Great space with multiple functions. Main floor bedroom with attached (9x8) room which could double as nursery, office or deluxe walk in closet. There are 2 additional bedrooms upstairs. The home has great potential & has a few projects ready for the new buyers and priced accordingly. Roof appears to have recently been recently replaced, many new updated windows. Easy to view.

5. 2026-05-04
   price $164,900 1016-char remark

   Show marketing remark (1016 chars)

   This home qualifies for $10k 'Home Assist Grant' to qualified buyers! Welcome Home to this affordably priced 3-4 bedroom gem. Hilltop setting overlooking the Kalamazoo River. Offering off street parking and garage pad. Enter into front enclosed porch, ideal for porch furniture, additional living space & mudroom. Living room and formal dining room with wood flooring. Main floor bathroom with laundry area & additional space for storage. Oversized kitchen, plenty of cabinets and counter space, small snack bar & nice window overlooking river. Unique main floor den/sunroom/4 season room with walls of windows. Great space with multiple functions. Main floor bedroom with attached (9x8) room which could double as nursery, office or deluxe walk in closet. There are 2 additional bedrooms upstairs. The home has great potential & has a few projects ready for the new buyers and priced accordingly. Roof appears to have recently been recently replaced, many new updated windows. Easy to view.

6. 2026-05-04
   price $164,900

   Show marketing remark (1016 chars)

   This home qualifies for $10k 'Home Assist Grant' to qualified buyers! Welcome Home to this affordably priced 3-4 bedroom gem. Hilltop setting overlooking the Kalamazoo River. Offering off street parking and garage pad. Enter into front enclosed porch, ideal for porch furniture, additional living space & mudroom. Living room and formal dining room with wood flooring. Main floor bathroom with laundry area & additional space for storage. Oversized kitchen, plenty of cabinets and counter space, small snack bar & nice window overlooking river. Unique main floor den/sunroom/4 season room with walls of windows. Great space with multiple functions. Main floor bedroom with attached (9x8) room which could double as nursery, office or deluxe walk in closet. There are 2 additional bedrooms upstairs. The home has great potential & has a few projects ready for the new buyers and priced accordingly. Roof appears to have recently been recently replaced, many new updated windows. Easy to view.

7. 2026-04-17
   listed $169,900 Active 1015-char remark

   Show marketing remark (1016 chars)

   This home qualifies for $10k 'Home Assist Grant' to qualified buyers! Welcome Home to this affordably priced 3-4 bedroom gem. Hilltop setting overlooking the Kalamazoo River. Offering off street parking and garage pad. Enter into front enclosed porch, ideal for porch furniture, additional living space & mudroom. Living room and formal dining room with wood flooring. Main floor bathroom with laundry area & additional space for storage. Oversized kitchen, plenty of cabinets and counter space, small snack bar & nice window overlooking river. Unique main floor den/sunroom/4 season room with walls of windows. Great space with multiple functions. Main floor bedroom with attached (9x8) room which could double as nursery, office or deluxe walk in closet. There are 2 additional bedrooms upstairs. The home has great potential & has a few projects ready for the new buyers and priced accordingly. Roof appears to have recently been recently replaced, many new updated windows. Easy to view.

8. 2026-04-17
   listed $169,900 Active 1016-char remark

   Show marketing remark (1016 chars)

   This home qualifies for $10k 'Home Assist Grant' to qualified buyers! Welcome Home to this affordably priced 3-4 bedroom gem. Hilltop setting overlooking the Kalamazoo River. Offering off street parking and garage pad. Enter into front enclosed porch, ideal for porch furniture, additional living space & mudroom. Living room and formal dining room with wood flooring. Main floor bathroom with laundry area & additional space for storage. Oversized kitchen, plenty of cabinets and counter space, small snack bar & nice window overlooking river. Unique main floor den/sunroom/4 season room with walls of windows. Great space with multiple functions. Main floor bedroom with attached (9x8) room which could double as nursery, office or deluxe walk in closet. There are 2 additional bedrooms upstairs. The home has great potential & has a few projects ready for the new buyers and priced accordingly. Roof appears to have recently been recently replaced, many new updated windows. Easy to view.

9. 2026-04-17
   listed $169,900 Active

   Show marketing remark (1016 chars)

   This home qualifies for $10k 'Home Assist Grant' to qualified buyers! Welcome Home to this affordably priced 3-4 bedroom gem. Hilltop setting overlooking the Kalamazoo River. Offering off street parking and garage pad. Enter into front enclosed porch, ideal for porch furniture, additional living space & mudroom. Living room and formal dining room with wood flooring. Main floor bathroom with laundry area & additional space for storage. Oversized kitchen, plenty of cabinets and counter space, small snack bar & nice window overlooking river. Unique main floor den/sunroom/4 season room with walls of windows. Great space with multiple functions. Main floor bedroom with attached (9x8) room which could double as nursery, office or deluxe walk in closet. There are 2 additional bedrooms upstairs. The home has great potential & has a few projects ready for the new buyers and priced accordingly. Roof appears to have recently been recently replaced, many new updated windows. Easy to view.

10. 2021-12-27
    soldstatus $123,735
11. 2021-12-15
    soldstatus $123,735 Sold
12. 2021-12-15
    soldstatus $123,735 Sold
13. 2021-10-28
    status Pending
14. 2021-10-28
    status Pending
15. 2021-08-07
    status Active
16. 2021-08-07
    status Active
17. 2021-08-04
    historical
18. 2021-08-03
    historical
19. 2021-07-30
    status Active
20. 2021-07-27
    status Active
21. 2021-07-19
    status Pending
22. 2021-07-19
    status Pending
23. 2021-05-10
    price $134,900
24. 2021-05-10
    price $134,900
25. 2021-04-15
    status Active
26. 2021-04-15
    status Active
27. 2021-03-18
    status Pending
28. 2021-03-18
    status Pending
29. 2021-03-12
    listed $139,900 Active
30. 2021-03-12
    listed $139,900 Active
31. 2021-03-12
    listed $134,900
32. 2014-09-15
    historical
33. 2003-07-15
    historical
34. 2003-01-15
    listed $85,900
35. 2003-01-15
    listed $85,900
36. 1994-05-25
    soldstatus $47,500
37. 1994-05-25
    soldstatus $47,500
38. 1994-03-12
    listed $47,500
39. 1994-03-12
    listed $47,500
40. 1989-05-22
    listed $34,900
41. 1989-05-22
    listed $34,900

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,644
• − Mortgage interest: −$9,237
• − Property taxes: −$2,474
• − Insurance: −$824
• − Repairs & maintenance: −$2,211
• − Management: −$2,211
• − Depreciation: −$4,797
• Taxable income: $5,889
• Est. tax owed @ 24.0%: −$1,413
• After-tax cash flow: $6,750/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: Allegan Public Schools
• NCES district ID: 2602220
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $48,602
• Composite: 27.27/100
• National rank: #7008
• State rank: #338 of 540 in MI

Livability — Allegan

• Score: 70/100
• State rank: #318
• US rank: #7767

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D+ Housing A+ Health & safety F User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Allegan, MI
• Population (ZIP): 18,394

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 5% Black 1%
• Common ancestry: Iranian 10% Romanian 4% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.08%
• Current HPI: 260.4976
• Rent YoY: —
• Metro: —
• 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

+372.5% since first listed

41 events — show timeline

• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — REALCOMP
• 2026-05-12 Pending — SW Michigan MLS
• 2026-05-05 Price Changed $164,900 MiRealSource-MiMLS
• 2026-05-04 Price Changed $164,900 REALCOMP
• 2026-05-04 Price Changed $164,900 SW Michigan MLS
• 2026-04-17 Listed $169,900 SW Michigan MLS
• 2026-04-17 Listed $169,900 REALCOMP
• 2026-04-17 Listed $169,900 MiRealSource-MiMLS
• 2021-12-27 Sold (Public Records) $123,735 Public Records
• 2021-12-15 Sold (MLS) $123,735 SW Michigan MLS
• 2021-12-15 Sold (MLS) $123,735 REALCOMP
• 2021-10-28 Pending — REALCOMP
• 2021-10-28 Pending — SW Michigan MLS
• 2021-08-07 Relisted — REALCOMP
• 2021-08-07 Relisted — SW Michigan MLS
• 2021-08-04 Listing Removed — REALCOMP
• 2021-08-03 Listing Removed — SW Michigan MLS
• 2021-07-30 Relisted — REALCOMP
• 2021-07-27 Relisted — SW Michigan MLS
• 2021-07-19 Pending — REALCOMP
• 2021-07-19 Pending — SW Michigan MLS
• 2021-05-10 Price Changed $134,900 REALCOMP
• 2021-05-10 Price Changed $134,900 SW Michigan MLS
• 2021-04-15 Relisted — REALCOMP
• 2021-04-15 Relisted — SW Michigan MLS
• 2021-03-18 Pending — REALCOMP
• 2021-03-18 Pending — SW Michigan MLS
• 2021-03-12 Listed $134,900 MiRealSource-MiMLS
• 2021-03-12 Listed $139,900 SW Michigan MLS
• 2021-03-12 Listed $139,900 REALCOMP
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2003-07-15 Listing Removed — REALCOMP
• 2003-01-15 Listed $85,900 REALCOMP
• 2003-01-15 Listed $85,900 SW Michigan MLS
• 1994-05-25 Sold (MLS) $47,500 REALCOMP
• 1994-05-25 Sold (MLS) $47,500 SW Michigan MLS
• 1994-03-12 Listed $47,500 REALCOMP
• 1994-03-12 Listed $47,500 SW Michigan MLS
• 1989-05-22 Listed $34,900 REALCOMP
• 1989-05-22 Listed $34,900 SW Michigan MLS