3011 Riverview Dr · Kalamazoo, MI 49004

$140,000

3 bd · 1.0 ba · 1,068 sqft · SingleFamily public records · 57 Days on market

Built 1920 0.51 ac lot $131/sqft · 24% below area Est $185k · 24% under

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Why this score? — see what drove the C 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 +18.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 3011 Riverview Dr, a 3-bedroom, 1-bath home situated on approximately half an acre. This property offers a spacious yard with room for outdoor activities, gardening, or future improvements. The home features a functional layout with three bedrooms and a full bathroom, providing flexible living options. Interior spaces offer natural light and practical flow throughout. Located on Riverview Drive, the property provides convenient access to shopping, dining, and major roadways, making every day travel and errands simple. Schedule your showing today to explore the potential this property has to offer. This is a duplicate listing of MLS# 26017620

Key facts

• Spacious yard
• Convenient access
• 0.51 acre lot

Tags

• SPACIOUS YARD
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (0.9% below list).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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-.
• Parchment School District (suburban): math 22% / reading 36% proficiency, ranked #372 of 540 in MI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 99 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $968 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.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 21y 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: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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: 0.99% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.29%
• DSCR: 1.19
• GRM: 8.4

CMA / ARV

• ARV (median comp): $185,033
• List price: $140,000
• Delta: -24.34%
• 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
2412 Sonora St	0.51mi	3/1.0	1,009 (-6%)	2mo	$170,000	$168	66
309 E Oak Grove Ave	0.57mi	3/1.0	1,020 (-4%)	1mo	$186,800	$183	65
2606 Laredo St	0.38mi	3/1.0	957 (-10%)	1mo	$160,700	$168	64
1042 Darwood Ave	0.33mi	3/1.0	957 (-10%)	4mo	$158,000	$165	64
229 Parchmount Ave	0.48mi	2/1.0 (-1)	1,030 (-4%)	6mo	$199,900	$194	61
3109 Courtlandt Ave	0.67mi	3/1.0	1,016 (-5%)	1mo	$230,000	$226	60
202 W Mosel Ave	0.75mi	3/1.0	1,046 (-2%)	4mo	$172,000	$164	58
2426 Upper Riverview Dr	0.37mi	3/1.0	925 (-13%)	9mo	$133,000	$144	53
1324 E Mosel Ave	0.45mi	2/1.0 (-1)	1,190 (+11%)	5mo	$120,000	$101	51
2346 Sonora St	0.53mi	3/1.0	925 (-13%)	5mo	$85,000	$92	49
416 N Wilson Ave	0.69mi	3/1.0	937 (-12%)	4mo	$170,000	$181	44
511 Glendale Blvd	0.60mi	3/1.0	916 (-14%)	8mo	$199,900	$218	41

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: -9.6%
• Equity multiple: 0.65×
• Total profit: $-13,750
• Equity at exit: $20,874

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-429
• Equity at exit: $12,105

Cash invested: $39,200 (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 49004

• Active inventory: 99
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,387 high
• Mortgage (P&I): −$734
• Tax from tax record: −$163 /mo · $1,958/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $140

Break-even live

Break-even rent $1,210

Max offer price $140,000

Occupancy floor 85%

Sensitivity live

Price	-10% $219	-5% $180	+0% $140	+5% $100	+10% $61
Rent	-10% $31	-5% $85	+0% $140	+5% $195	+10% $250
Rate	-1.0pp $211	-0.5pp $176	base $140	+0.5pp $104	+1.0pp $67

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2420 Upper Riverview Dr Kalamazoo, MI	3.0	1.0	925	$1,300	$1.41	21d	1	0.37mi
428 Keyes Dr Kalamazoo, MI	2.0	1.0	785	$1,549	$1.97	44d	1	0.70mi
1710 E G Ave Unit 3B Parchment, MI	2.0	1.0	810	$955	$1.18	14d	1	1.00mi
1928 Colgrove Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	912	$1,390	$1.52	14d	13	1.10mi
450 Haymac Dr Parchment, MI	1.0–3.0	1.0–2.0	867	$1,375	$1.59	14d	1	1.21mi

Listing history 50 events

1. 2026-06-18
   days on market $140,000 Active 57 DOM
2. 2026-06-17
   days on market $140,000 Active 56 DOM
3. 2026-06-16
   days on market $140,000 Active 55 DOM
4. 2026-06-15
   days on market $140,000 Active 54 DOM
5. 2026-06-14
   days on market $140,000 Active 52 DOM
6. 2026-06-13
   days on market $140,000 Active 51 DOM
7. 2026-06-10
   days on market $140,000 Active 49 DOM
8. 2026-06-09
   days on market $140,000 Active 48 DOM
9. 2026-06-08
   days on market $140,000 Active 47 DOM
10. 2026-06-07
    days on market $140,000 Active 46 DOM
11. 2026-06-03
    days on market $140,000 Active 42 DOM
12. 2026-06-02
    days on market $140,000 Active 41 DOM
13. 2026-06-01
    days on market $140,000 Active 40 DOM
14. 2026-05-31
    days on market $140,000 Active 39 DOM
15. 2026-05-30
    days on market $140,000 Active 38 DOM
16. 2026-04-22
    listed $140,000 Active 660-char remark

    Show marketing remark (660 chars)

    Welcome to 3011 Riverview Dr, a 3-bedroom, 1-bath home situated on approximately half an acre. This property offers a spacious yard with room for outdoor activities, gardening, or future improvements. The home features a functional layout with three bedrooms and a full bathroom, providing flexible living options. Interior spaces offer natural light and practical flow throughout. Located on Riverview Drive, the property provides convenient access to shopping, dining, and major roadways, making every day travel and errands simple. Schedule your showing today to explore the potential this property has to offer. This is a duplicate listing of MLS# 26017620

17. 2026-04-22
    listed $140,000 Active 660-char remark

    Show marketing remark (660 chars)

    Welcome to 3011 Riverview Dr, a 3-bedroom, 1-bath home situated on approximately half an acre. This property offers a spacious yard with room for outdoor activities, gardening, or future improvements. The home features a functional layout with three bedrooms and a full bathroom, providing flexible living options. Interior spaces offer natural light and practical flow throughout. Located on Riverview Drive, the property provides convenient access to shopping, dining, and major roadways, making every day travel and errands simple. Schedule your showing today to explore the potential this property has to offer. This is a duplicate listing of MLS# 26017620

18. 2026-04-22
    listed $140,000 Active

    Show marketing remark (660 chars)

    Welcome to 3011 Riverview Dr, a 3-bedroom, 1-bath home situated on approximately half an acre. This property offers a spacious yard with room for outdoor activities, gardening, or future improvements. The home features a functional layout with three bedrooms and a full bathroom, providing flexible living options. Interior spaces offer natural light and practical flow throughout. Located on Riverview Drive, the property provides convenient access to shopping, dining, and major roadways, making every day travel and errands simple. Schedule your showing today to explore the potential this property has to offer. This is a duplicate listing of MLS# 26017620

19. 2026-01-10
    historical
20. 2026-01-06
    listed $134,900 Active
21. 2026-01-06
    listed $134,900 Active
22. 2026-01-01
    historical
23. 2025-12-31
    historical
24. 2025-12-22
    price $134,900
25. 2025-12-22
    price $134,900
26. 2025-12-22
    price $134,900
27. 2025-11-16
    listed $144,900 Active
28. 2025-11-16
    listed $144,900 Active
29. 2025-11-15
    historical
30. 2025-11-14
    historical
31. 2025-10-02
    price $144,900
32. 2025-10-01
    price $144,900
33. 2025-10-01
    price $144,900
34. 2025-09-15
    listed $159,900 Active
35. 2025-09-15
    listed $159,900 Active
36. 2020-08-15
    historical
37. 2019-06-20
    historical
38. 2019-06-20
    historical
39. 2019-06-20
    historical
40. 2019-05-10
    price $95,000
41. 2018-07-30
    price $100,000
42. 2018-05-01
    listed $95,000
43. 2018-05-01
    listed $90,000 Active
44. 2018-05-01
    listed $95,000
45. 2018-02-02
    historical
46. 2018-02-02
    historical
47. 2017-08-14
    listed $100,000 Active
48. 2017-08-07
    listed $100,000
49. 2017-08-07
    listed $70,000
50. 2017-07-31
    historical

ⓘ 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: $1,958 · $163/mo
• Projected year-2 tax: $2,057 · $171/mo
• Expected delta: +$99/yr (+$8/mo · 5.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $16,644
• − Mortgage interest: −$7,842
• − Property taxes: −$1,958
• − Insurance: −$700
• − Repairs & maintenance: −$1,332
• − Management: −$1,332
• − Depreciation: −$4,073
• Taxable loss: −$592
• Est. tax savings @ 24.0%: +$142
• After-tax cash flow: $1,823/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: Parchment School District
• NCES district ID: 2627420
• Math proficiency: 22% ▼ -10.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $49,525
• Composite: 25.27/100
• National rank: #7494
• State rank: #372 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

• County: Kalamazoo County · 224,317 people
• City population: 121,397
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 17,815
• Household income: $73,453
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 330.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 9% Black 8% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 10% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 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: ▼ -247.79%
• Current HPI: 202.6197
• Rent YoY: —
• 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

+40.1% since first listed

46 events — show timeline

• 2026-04-22 Listed $140,000 SW Michigan MLS
• 2026-04-22 Listed $140,000 REALCOMP
• 2026-04-22 Listed $140,000 MiRealSource-MiMLS
• 2026-01-10 Listing Removed — MiRealSource-MiMLS
• 2026-01-06 Listed $134,900 MiRealSource-MiMLS
• 2026-01-06 Listed $134,900 REALCOMP
• 2026-01-01 Listing Removed — MiRealSource-MiMLS
• 2025-12-31 Listing Removed — REALCOMP
• 2025-12-22 Price Changed $134,900 MiRealSource-MiMLS
• 2025-12-22 Price Changed $134,900 REALCOMP
• 2025-12-22 Price Changed $134,900 SW Michigan MLS
• 2025-11-16 Listed $144,900 REALCOMP
• 2025-11-16 Listed $144,900 MiRealSource-MiMLS
• 2025-11-15 Listing Removed — MiRealSource-MiMLS
• 2025-11-14 Listing Removed — REALCOMP
• 2025-10-02 Price Changed $144,900 MiRealSource-MiMLS
• 2025-10-01 Price Changed $144,900 REALCOMP
• 2025-10-01 Price Changed $144,900 SW Michigan MLS
• 2025-09-15 Listed $159,900 REALCOMP
• 2025-09-15 Listed $159,900 MiRealSource-MiMLS
• 2020-08-15 Listing Removed — MiRealSource-MiMLS
• 2019-06-20 Listing Removed — MiRealSource-MiMLS
• 2019-06-20 Listing Removed — SW Michigan MLS
• 2019-06-20 Listing Removed — REALCOMP
• 2019-05-10 Price Changed $95,000 SW Michigan MLS
• 2018-07-30 Price Changed $100,000 SW Michigan MLS
• 2018-05-01 Listed $95,000 MiRealSource-MiMLS
• 2018-05-01 Listed $90,000 SW Michigan MLS
• 2018-05-01 Listed $95,000 REALCOMP
• 2018-02-02 Listing Removed — SW Michigan MLS
• 2018-02-02 Listing Removed — REALCOMP
• 2017-08-14 Listed $100,000 SW Michigan MLS
• 2017-08-07 Listed $70,000 MiRealSource-MiMLS
• 2017-08-07 Listed $100,000 REALCOMP
• 2017-07-31 Listing Removed — SW Michigan MLS
• 2017-07-30 Listing Removed — REALCOMP
• 2017-02-08 Price Changed $69,900 SW Michigan MLS
• 2017-02-08 Price Changed $89,900 SW Michigan MLS
• 2015-10-07 Price Changed $59,900 SW Michigan MLS
• 2015-09-04 Listed $79,900 SW Michigan MLS
• 2015-09-02 Price Changed $70,000 SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2014-04-02 Listed $69,900 REALCOMP
• 2006-08-10 Listing Removed — REALCOMP
• 2005-08-10 Listed $99,900 REALCOMP
• 2005-08-10 Listed $99,900 SW Michigan MLS

Property tax history

+3.8%/yr

Latest (2025): $1,958 · +0.2% YoY. Source: county tax records.