162 Calhoun St · Battle Creek, MI 49017

$14,750

3 bd · 1.0 ba · 1,515 sqft · SingleFamily public records · 10 Days on market

Built 1923 4,356 sqft lot ↓ 30% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity! Bring your vision and transform this spacious 2-bedroom into a standout property. With approximately 1,885 square feet of living space, this historic two-story residence has been extensively gutted and is ready for the next phase of renovation. The main level offers an expansive open-concept layout featuring a large living area with fireplace, along with plumbing already in place for a kitchen and full bathroom. Upstairs, you'll find additional living space with plumbing available for a second full bath, creating endless possibilities for customization. Whether you're looking for your next flip, rental investment, or restoration project, this property offers significant upside potential. Property is being sold as-is. Buyer to verify all information and intended uses.

Key facts

• 4,356 sq ft lot
• Built 1923
• Listed 10 days

Tags

• HISTORIC TWO-STORY RESIDENCE
• EXPANSIVE OPEN-CONCEPT LAYOUT

Property features AI

Exterior

• Utilities: Natural gas available; Electricity available
• Home design: Traditional-style single-family residence; One entry level
• Construction: Built in 1923; Wood siding exterior; Composition roof
• Exterior features: Paved road access; Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Full basement with Michigan-style foundation

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $866 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Cap rate 76.8% vs local median 5.2% in Battle Creek — 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 73/100 on livability (#198 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities C-, crime F.
• Battle Creek Public Schools (urban): math 8% / reading 19% proficiency, ranked #510 of 540 in MI (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 155 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $102 of loan paydown is wiped out by about $442 of value loss. Plan a longer hold.
• Calhoun County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 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.
• Current owner paid $10k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,750

Questions for the listing agent

1. Built in 1923 — 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. 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?
4. 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?
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: 8.31% ✓
• Cap rate: 76.77%
• Cash-on-cash: 251.72%
• DSCR: 12.20
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $146,955
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
159 Harvard St	0.31mi	3/1.0	1,549 (+2%)	2mo	$147,000	$95	80
160 Harvard St	0.30mi	3/1.5	1,506 (-1%)	6mo	$155,000	$103	78
63 N Wabash Ave N	0.51mi	3/1.0	1,536 (+1%)	2mo	$75,000	$49	72
157 Orchard Ave	0.38mi	4/1.5 (+1)	1,585 (+5%)	1mo	$200,000	$126	67
144 Orchard Ave	0.38mi	3/2.0	1,385 (-9%)	1mo	$200,000	$144	63
42 Mckinley Ave N	0.47mi	2/2.0 (-1)	1,580 (+4%)	0mo	$175,000	$111	62
16 S Broad St	0.56mi	4/2.0 (+1)	1,556 (+3%)	1mo	$163,000	$105	60
80 Piper Ave	0.73mi	4/1.0 (+1)	1,522 (+0%)	3mo	$134,000	$88	58
55 Mckinley Ave	0.39mi	4/1.0 (+1)	1,344 (-11%)	1mo	$40,000	$30	57
55 Mckinley Ave S	0.48mi	4/1.0 (+1)	1,344 (-11%)	1mo	$40,000	$30	53
90 N Broad St	0.62mi	3/1.0	1,680 (+11%)	3mo	$155,000	$92	51
20 Piper Ave	0.68mi	3/1.0	1,665 (+10%)	6mo	$162,000	$97	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 13.79×
• Total profit: $52,806
• Equity at exit: $2,199

10-year hold

• IRR: —
• Equity multiple: 29.36×
• Total profit: $117,107
• Equity at exit: $1,275

Cash invested: $4,130 (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 49017

• Home prices YoY: -32.2%
• Active inventory: 155
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $1,226 medium
• Mortgage (P&I): −$77
• Tax est. 1.5%: −$18 /mo · $221/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $866

Break-even live

Break-even rent $129

Max offer price $14,750

Occupancy floor 24%

Sensitivity live

Price	-10% $877	-5% $871	+0% $866	+5% $861	+10% $856
Rent	-10% $770	-5% $818	+0% $866	+5% $915	+10% $963
Rate	-1.0pp $874	-0.5pp $870	base $866	+0.5pp $863	+1.0pp $859

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: $3,688
• Closing costs: $442
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
98 Van Buren St E Battle Creek, MI	2.0	1.0	1118	$950	$0.85	45d	1	0.32mi
115 West St Battle Creek, MI	2.0–3.0	1.0–2.0	1090	$1,500	$1.38	45d	3	0.49mi

Listing history 9 events

1. 2026-06-21
   days on market $14,750 Active 10 DOM
2. 2026-06-19
   days on market $14,750 Active 8 DOM
3. 2026-06-18
   days on market $14,750 Active 7 DOM
4. 2026-06-17
   days on market $14,750 Active 6 DOM
5. 2026-06-16
   days on market $14,750 Active 5 DOM
6. 2026-06-15
   days on market $14,750 Active 4 DOM
7. 2026-06-14
   days on market $14,750 Active 2 DOM
8. 2026-06-13
   remarks 699-char remark
9. 2026-06-13
   listed $14,750 Active 1 DOM

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $14,708
• − Mortgage interest: −$826
• − Property taxes: −$221
• − Insurance: −$74
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$429
• Taxable income: $10,804
• Est. tax owed @ 24.0%: −$2,593
• After-tax cash flow: $7,803/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: Battle Creek Public Schools
• NCES district ID: 2600005
• Math proficiency: 8% ▼ -2.00%
• Reading proficiency: 19% ▬ 0.00%
• Median HH income: $31,697
• Composite: 10.73/100
• National rank: #9769
• State rank: #510 of 540 in MI

Livability — Battle Creek

• Score: 73/100
• State rank: #198
• US rank: #5031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Battle Creek, MI
• County: Calhoun County · 91,590 people
• City population: 91,590
• Metro: Battle Creek, MI
• Population (ZIP): 21,295
• Household income: $60,885
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 697.0

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 130,157 people
• By 2030: 126,691 · -2.7%
• By 2040: 118,517 · -8.9%
• By 2050: 109,855 · -15.6%
• By 2075: 90,486 · -30.5%
• By 2100: 70,766 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 9% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Iranian 3% Romanian 2%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% Arabic 1%

Political lean MEDSL · Calhoun

• 2024 margin: R (+14.1) · D 42.3% · R 56.4% · Other 1.3%
• 2008→2024 swing: -23.4pp toward R · 2008: 9.4pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+11.1 2016: R+12.5 2012: D+1.6 2008: D+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -115.68%
• Current HPI: 243.5008
• Rent YoY: —
• Metro: Battle Creek, 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

-29.8% since first listed

21 events — show timeline

• 2026-06-11 Listed $14,750 REALCOMP
• 2026-06-11 Listed $14,750 MiRealSource-MiMLS
• 2026-06-11 Listed $14,750 SW Michigan MLS
• 2026-03-05 Listing Removed — MiRealSource-MiMLS
• 2026-03-05 Listing Removed — REALCOMP
• 2026-02-16 Price Changed $25,000 MiRealSource-MiMLS
• 2026-02-16 Price Changed $25,000 REALCOMP
• 2026-02-16 Price Changed $25,000 SW Michigan MLS
• 2026-01-16 Price Changed $49,900 MiRealSource-MiMLS
• 2026-01-15 Price Changed $49,900 REALCOMP
• 2026-01-15 Price Changed $49,900 SW Michigan MLS
• 2025-10-15 Listed $54,900 MiRealSource-MiMLS
• 2025-10-15 Listed $54,900 REALCOMP
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2004-11-11 Sold (MLS) $10,000 REALCOMP
• 2004-11-11 Sold (MLS) $10,000 SW Michigan MLS
• 2004-07-30 Listed $12,900 REALCOMP
• 2004-07-30 Listed $12,900 SW Michigan MLS
• 2004-07-15 Listing Removed — REALCOMP
• 2004-04-20 Listed $21,000 REALCOMP
• 2004-04-20 Listed $21,000 SW Michigan MLS

Property tax history

-11.8%/yr

Latest (2025): $1,235 · +22.9% YoY. Source: county tax records.