1005 E Front St · Buchanan, MI 49107

$95,000

1 bd · 1.0 ba · 688 sqft · SingleFamily public records · 11 Days on market

Built 1953 0.78 ac lot $138/sqft · 26% below area Est $129k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.3/30.0
• Schools +4.1/10.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bring your vision to life with this 1-bedroom, 1-bath home offering 688 sq ft of living space and incredible opportunity in the heart of Buchanan. Situated on a high-visibility main road surrounded by thriving commercial properties, this property offers the flexibility to remain residential or explore mixed-use possibilities (check with the city for zoning options). While the home is in need of significant renovation, the flat lot, detached 2-car garage, and additional storage shed provide a strong foundation for your next project. Whether you're an investor, entrepreneur, or builder, this property's strategic location and dual-use potential make it a standout opportunity in Buchanan's growing market.

Key facts

• Flat lot
• Detached garage
• 0.78 acre lot

Tags

• HIGH VISIBILITY MAIN ROAD
• THRIVING COMMERCIAL PROPERTIES
• MIXED-USE POSSIBILITIES
• FLAT LOT
• DETACHED GARAGE
• ADDITIONAL STORAGE SHED

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Natural gas available; Electricity available
• Home design: Single-family residence; Residential property
• Construction: Built in 1953; Vinyl and wood siding; Composition/shingle roof
• Exterior features: Sidewalk; Paved road access; Lot about 0.78 acres

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom (approximately 14 x 10)
• Bathrooms: One full bathroom (approx. 10 x 6)
• Heating & cooling: Space heater and wood heating; Window air conditioning units
• Interior features: Four total rooms; Crawl space basement; Foyer
• Laundry & utility: Utility room (approx. 7 x 9)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $-69 ($-832/yr) — negative.
• To cash-flow at today's rent, offer at most $83k (12.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $80k (16.3% below list).
• Recommended offer: $80k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 2.6% in Buchanan — 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 75/100 on livability (#152 in MI, #3,811 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D+, commute F, employment D-.
• Buchanan Community Schools (suburban): math 40% / reading 56% proficiency, ranked #125 of 540 in MI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Buchanan Middle School (math 37% / reading 55%, grade D+, #155 of 493 statewide, top 32%, 331 students, 51% FRL); Buchanan High School (math 32% / reading 62%, grade D-, #187 of 713 statewide, top 29%, 522 students, 38% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: 69 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Berrien County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 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.
• Current owner paid $50k; list at $95k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,500 (16.3% 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. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
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: 0.84% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.13%
• DSCR: 0.86
• GRM: 10.0

CMA / ARV

• ARV (median comp): $128,777
• List price: $95,000
• Delta: -26.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
313 Fulton St	0.65mi	2/1.0 (+1)	730 (+6%)	11mo	$124,000	$170	45

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: -21.5%
• Equity multiple: 0.26×
• Total profit: $-19,775
• Equity at exit: $14,165

10-year hold

• IRR: -15.0%
• Equity multiple: 0.14×
• Total profit: $-22,759
• Equity at exit: $8,214

Cash invested: $26,600 (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 49107

• Active inventory: 69
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $795 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$160 /mo · $1,916/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $-69

Break-even live

Break-even rent $883

Max offer price $82,745

Occupancy floor —

Sensitivity live

Price	-10% $-16	-5% $-42	+0% $-69	+5% $-96	+10% $-123
Rent	-10% $-132	-5% $-101	+0% $-69	+5% $-38	+10% $-7
Rate	-1.0pp $-22	-0.5pp $-45	base $-69	+0.5pp $-94	+1.0pp $-119

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1386 Leisure Ln Buchanan, MI	1.0–3.0	1.0–2.0	850	$795	$0.94	15d	5	1.10mi

Listing history 42 events

1. 2026-06-21
   days on market $95,000 Active 11 DOM
2. 2026-06-19
   days on market $95,000 Active 9 DOM
3. 2026-06-18
   days on market $95,000 Active 8 DOM
4. 2026-06-17
   days on market $95,000 Active 7 DOM
5. 2026-06-16
   days on market $95,000 Active 6 DOM
6. 2026-06-15
   days on market $95,000 Active 5 DOM
7. 2026-06-14
   days on market $95,000 Active 3 DOM
8. 2026-06-13
   days on marketlisting id $95,000 Active 2 DOM
9. 2026-06-10
   days on market $95,000 Active 233 DOM

   Show marketing remark (710 chars)

   Bring your vision to life with this 1-bedroom, 1-bath home offering 688 sq ft of living space and incredible opportunity in the heart of Buchanan. Situated on a high-visibility main road surrounded by thriving commercial properties, this property offers the flexibility to remain residential or explore mixed-use possibilities (check with the city for zoning options). While the home is in need of significant renovation, the flat lot, detached 2-car garage, and additional storage shed provide a strong foundation for your next project. Whether you're an investor, entrepreneur, or builder, this property's strategic location and dual-use potential make it a standout opportunity in Buchanan's growing market.

10. 2026-06-09
    days on market $95,000 Active 232 DOM
11. 2026-06-08
    days on market $95,000 Active 231 DOM
12. 2026-06-07
    days on market $95,000 Active 230 DOM
13. 2026-06-05
    days on market $95,000 Active 227 DOM
14. 2026-06-03
    days on market $95,000 Active 226 DOM
15. 2026-06-02
    days on market $95,000 Active 225 DOM
16. 2026-06-01
    days on market $95,000 Active 224 DOM
17. 2026-05-31
    days on market $95,000 Active 223 DOM
18. 2026-05-30
    days on market $95,000 Active 222 DOM
19. 2026-05-08
    status Active 710-char remark
20. 2026-05-08
    status Active 710-char remark
21. 2026-05-08
    status Active
22. 2026-04-21
    historical Accepting Backup Offers 710-char remark
23. 2026-04-21
    historical Active Under Contract 710-char remark
24. 2026-04-21
    historical Active - Backup Offers Accepted
25. 2026-02-19
    status Active 710-char remark
26. 2026-02-15
    status Active 710-char remark
27. 2026-02-15
    status Active 710-char remark
28. 2026-02-15
    status Active
29. 2026-02-11
    historical Active Under Contract 710-char remark
30. 2026-02-11
    historical Accepting Backup Offers 710-char remark
31. 2026-02-11
    historical Active - Backup Offers Accepted
32. 2026-02-11
    historical 710-char remark
33. 2025-11-11
    status Active 710-char remark
34. 2025-11-11
    status Active 710-char remark
35. 2025-11-11
    status Active
36. 2025-10-29
    historical Active Under Contract 710-char remark
37. 2025-10-27
    historical Accepting Backup Offers 710-char remark
38. 2025-10-27
    historical Active - Backup Offers Accepted
39. 2025-10-20
    listed $95,000 Active 710-char remark
40. 2025-10-20
    listed $95,000 Active 710-char remark
41. 2025-10-20
    listed $95,000 Active
42. 2018-10-23
    soldstatus $50,000

ⓘ 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: $1,916 · $160/mo
• Projected year-2 tax: $1,916 · $160/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 2/10 Low 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $9,540
• − Mortgage interest: −$5,321
• − Property taxes: −$1,916
• − Insurance: −$475
• − Repairs & maintenance: −$763
• − Management: −$763
• − Depreciation: −$2,764
• Taxable loss: −$2,462
• Est. tax savings @ 24.0%: +$591
• After-tax cash flow: $-242/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: Buchanan Community Schools
• NCES district ID: 2607140
• Math proficiency: 40% ▼ -3.00%
• Reading proficiency: 56% ▲ 2.00%
• Median HH income: $47,380
• Composite: 40.81/100
• National rank: #3636
• State rank: #125 of 540 in MI

Livability — Buchanan

• Score: 75/100
• State rank: #152
• US rank: #3811

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buchanan, MI
• Population (ZIP): 10,351

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 9% Hispanic / Latino 3% Black 2%
• Common ancestry: Italian 4% Romanian 4% Iranian 3%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.28%
• Current HPI: 220.7718
• 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

+90.0% since first listed

22 events — show timeline

• 2026-06-10 Listed $95,000 REALCOMP
• 2026-06-10 Listed $95,000 SW Michigan MLS
• 2026-06-10 Listed $95,000 MiRealSource-MiMLS
• 2026-06-10 Listing Removed — MiRealSource-MiMLS
• 2026-06-09 Listing Removed — REALCOMP
• 2026-05-08 Relisted — REALCOMP
• 2026-05-08 Relisted — MiRealSource-MiMLS
• 2026-04-21 Contingent — MiRealSource-MiMLS
• 2026-04-21 Contingent — REALCOMP
• 2026-02-19 Relisted — REALCOMP
• 2026-02-15 Relisted — REALCOMP
• 2026-02-15 Relisted — MiRealSource-MiMLS
• 2026-02-11 Contingent — REALCOMP
• 2026-02-11 Contingent — MiRealSource-MiMLS
• 2026-02-11 Listing Removed — REALCOMP
• 2025-11-11 Relisted — REALCOMP
• 2025-11-11 Relisted — MiRealSource-MiMLS
• 2025-10-29 Contingent — REALCOMP
• 2025-10-27 Contingent — MiRealSource-MiMLS
• 2025-10-20 Listed $95,000 REALCOMP
• 2025-10-20 Listed $95,000 MiRealSource-MiMLS
• 2018-10-23 Sold (Public Records) $50,000 Public Records

Property tax history

+14.1%/yr

Latest (2024): $1,916 · +5.5% YoY. Source: county tax records.