926 Cottage Ave · Kalamazoo, MI 49001

$120,000

3 bd · 1.0 ba · 1,452 sqft · SingleFamily public records · 65 Days on market

Built 1896 5,663 sqft lot Est $163k · 26% 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 +8.6/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Just a little TLC gets you into this 4 bedroom 1 full bath home. Newer windows, original hardwood floors in living room and family room. Possible game/computer room upstairs. . Basement needs repair. Includes appliances.

Key facts

• Includes appliances
• Newer windows
• 5,663 sq ft lot

Tags

• NEWER WINDOWS
• ORIGINAL HARDWOOD FLOORS
• INCLUDES APPLIANCES

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Electricity available; Natural gas available and connected
• Home design: Traditional single-family home; Residential property; Built in 1896
• Construction: Vinyl siding; Composition roof; Full Michigan basement
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Eat-in kitchen
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Replacement windows; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 rising fast (+6.4%/yr); 109 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 35% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 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.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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 1896 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1896 — 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: 1.36% ✓
• Cap rate: 11.12%
• Cash-on-cash: 17.26%
• DSCR: 1.77
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $162,624
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1012 Mills St	0.22mi	2/1.5 (-1)	1,485 (+2%)	2mo	$162,900	$110	77
923 Stockbridge Ave	0.35mi	3/2.0	1,461 (+1%)	3mo	$148,000	$101	76
719 Millard Ct	0.22mi	4/1.0 (+1)	1,522 (+5%)	2mo	$165,000	$108	75
901 Clarence St	0.48mi	3/1.5	1,494 (+3%)	3mo	$174,900	$117	68
1116 March St	0.42mi	3/2.0	1,396 (-4%)	4mo	$69,900	$50	67
734 E Stockbridge Ave	0.34mi	4/1.0 (+1)	1,294 (-11%)	0mo	$45,000	$35	61
1317 John St	0.61mi	4/2.0 (+1)	1,428 (-2%)	0mo	$187,000	$131	60
1113 Egleston Ave	0.46mi	4/1.5 (+1)	1,611 (+11%)	1mo	$180,000	$112	52
1510 Egleston Ave	0.65mi	4/2.0 (+1)	1,566 (+8%)	1mo	$200,000	$128	47
1006 Hays Park Ave	0.55mi	4/2.0 (+1)	1,613 (+11%)	1mo	$185,000	$115	46
1612 E Stockbridge Ave	0.67mi	3/1.5	1,301 (-10%)	4mo	$156,500	$120	46
1114 Lane Blvd	0.74mi	3/2.0	1,319 (-9%)	4mo	$135,500	$103	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 · 6.41% rent growth · sell at horizon

5-year hold

• IRR: 12.3%
• Equity multiple: 1.51×
• Total profit: $17,151
• Equity at exit: $17,892

10-year hold

• IRR: 23.8%
• Equity multiple: 3.39×
• Total profit: $80,181
• Equity at exit: $10,375

Cash invested: $33,600 (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 49001

• Rents YoY: 6.4%
• Active inventory: 109
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,637 high
• Mortgage (P&I): −$629
• Tax from tax record: −$131 /mo · $1,568/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $483

Break-even live

Break-even rent $1,025

Max offer price $120,000

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	13d	2	0.67mi
1512 S Burdick St Kalamazoo, MI	3.0	1.0	887	$1,250	$1.41	13d	1	0.73mi
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	21d	1	0.73mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	21d	1	0.85mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	13d	1	0.87mi
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	13d	12	1.02mi
525 E Ransom St Kalamazoo, MI	1.0–2.0	1.0–2.0	807	$1,625	$2.01	21d	1	1.08mi
1403 Sherwood Ave Unit 2 Kalamazoo, MI	2.0	1.0	900	$1,000	$1.11	21d	1	1.15mi
2002 S Westnedge Ave Kalamazoo, MI	2.0	1.0	900	$1,250	$1.39	21d	2	1.24mi
815 N Pitcher St Unit 12 Kalamazoo, MI	2.0	2.0	982	$1,550	$1.58	21d	1	1.29mi
2725 S Burdick St Kalamazoo, MI	2.0	1.0	1000	$1,250	$1.25	13d	1	1.36mi
816 W Main St Kalamazoo, MI	3.0	1.0	1005	$1,100	$1.09	21d	1	1.40mi
23 Ridgewood St Kalamazoo, MI	2.0	1.0	1100	$1,295	$1.18	21d	1	1.43mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	21d	1	1.44mi
722 W Kalamazoo Ave Unit 2 Kalamazoo, MI	3.0	1.0	1800	$1,600	$0.89	21d	1	1.45mi
232 Woodward Ave Unit 5 Kalamazoo, MI	2.0	1.0	1400	$999	$0.71	13d	1	1.48mi

Listing history 28 events

1. 2026-06-18
   status $120,000 Pending 65 DOM
2. 2026-06-18
   days on market $120,000 Active 65 DOM
3. 2026-06-17
   days on market $120,000 Active 64 DOM
4. 2026-06-16
   days on market $120,000 Active 63 DOM
5. 2026-06-15
   days on market $120,000 Active 62 DOM
6. 2026-06-14
   days on market $120,000 Active 60 DOM
7. 2026-06-13
   days on market $120,000 Active 59 DOM
8. 2026-06-10
   days on market $120,000 Active 57 DOM
9. 2026-06-09
   days on market $120,000 Active 56 DOM
10. 2026-06-08
    days on market $120,000 Active 55 DOM
11. 2026-06-07
    days on market $120,000 Active 54 DOM
12. 2026-06-05
    days on market $120,000 Active 51 DOM
13. 2026-06-03
    days on market $120,000 Active 50 DOM
14. 2026-06-02
    days on market $120,000 Active 49 DOM
15. 2026-06-01
    days on market $120,000 Active 48 DOM
16. 2026-05-31
    days on market $120,000 Active 47 DOM
17. 2026-05-30
    days on market $120,000 Active 46 DOM
18. 2026-04-14
    listed $120,000 Active 220-char remark

    Show marketing remark (220 chars)

    Just a little TLC gets you into this 4 bedroom 1 full bath home. Newer windows, original hardwood floors in living room and family room. Possible game/computer room upstairs. . Basement needs repair. Includes appliances.

19. 2026-04-14
    listed $120,000 Active

    Show marketing remark (220 chars)

    Just a little TLC gets you into this 4 bedroom 1 full bath home. Newer windows, original hardwood floors in living room and family room. Possible game/computer room upstairs. . Basement needs repair. Includes appliances.

20. 2026-04-14
    listed $120,000 Active 220-char remark

    Show marketing remark (220 chars)

    Just a little TLC gets you into this 4 bedroom 1 full bath home. Newer windows, original hardwood floors in living room and family room. Possible game/computer room upstairs. . Basement needs repair. Includes appliances.

21. 2025-09-01
    historical
22. 2025-08-31
    historical
23. 2025-02-07
    listed $130,000 Active
24. 2025-02-07
    listed $130,000 Active
25. 2022-05-25
    historical
26. 2003-12-16
    historical
27. 2002-08-23
    listed $56,000
28. 2002-08-23
    listed $56,000

ⓘ 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: $1,568 · $131/mo
• Projected year-2 tax: $1,708 · $142/mo
• Expected delta: +$140/yr (+$12/mo · 8.9%)

ⓘ 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: $19,643
• − Mortgage interest: −$6,722
• − Property taxes: −$1,568
• − Insurance: −$600
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − Depreciation: −$3,491
• Taxable income: $4,119
• Est. tax owed @ 24.0%: −$989
• After-tax cash flow: $4,810/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): 20,946
• Household income: $56,432
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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 0.59)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 15% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 6% Iranian 4% Slovak 3%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 11% Arabic 2% Other Indo-European 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: ▼ -264.90%
• Current HPI: 206.9355
• Rent YoY: ▲ 6.41%
• 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

+114.3% since first listed

11 events — show timeline

• 2026-04-14 Listed $120,000 MiRealSource-MiMLS
• 2026-04-14 Listed $120,000 SW Michigan MLS
• 2026-04-14 Listed $120,000 REALCOMP
• 2025-09-01 Listing Removed — MiRealSource-MiMLS
• 2025-08-31 Listing Removed — REALCOMP
• 2025-02-07 Listed $130,000 REALCOMP
• 2025-02-07 Listed $130,000 MiRealSource-MiMLS
• 2022-05-25 Listing Removed — REALCOMP
• 2003-12-16 Listing Removed — SW Michigan MLS
• 2002-08-23 Listed $56,000 SW Michigan MLS
• 2002-08-23 Listed $56,000 REALCOMP

Property tax history

+3.7%/yr

Latest (2025): $1,568 · +3.0% YoY. Source: county tax records.