609 Sturgis St · Sturgis, MI 49091

$140,000

4 bd · 1.0 ba · 1,800 sqft · SingleFamily public records · 6 Days on market

Built 1970 8,712 sqft lot Est $191k · 27% under

---

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 +17.9/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +5.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent investment opportunity in the City of Sturgis! This unique property features two homes on one lot; both currently registered as rental properties with the city and rental certification valid through 9/2027. The first home is, currently owner-occupied, offers 4 bedrooms and 1 bathroom with plenty of space and future income potential. The second home is a 1 bedroom, 1 bathroom unit currently generating $800/month in rental income. Whether you're looking to expand your portfolio, owner-occupy while generating rental income, or maximize cash flow with two rental units, this property offers flexibility and opportunity. Convenient location close to downtown, schools, and local amenities.

Key facts

• Rental certification
• Two homes on one lot
• Rental properties

Tags

• TWO HOMES ON ONE LOT
• RENTAL PROPERTIES
• RENTAL CERTIFICATION
• FUTURE INCOME POTENTIAL
• GENERATING RENTAL INCOME

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water
• Home design: Traditional single-family residence; Residential property
• Construction: Built in 1970; Vinyl siding; Asphalt shingle roof; Living area approximately 2,708 total
• Exterior features: Lot approximately 0.2 acres; Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Cooling present
• Interior features: Nine total rooms; Full basement

🏷️ Possibly a rental listed for sale. The $140,000 price doesn't fit this home's estimated sale value (~$190,800) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Cap rate 7.3% vs local median 4.0% in Sturgis — 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 (#226 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, crime D-, amenities F.
• Sturgis Public Schools (town): math 20% / reading 32% proficiency, ranked #413 of 540 in MI (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 113 active listings in the ZIP; 125 units permitted in St. Joseph County in 2024 (0 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.
• St. Joseph County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 17 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.
• Current owner paid $65k; list at $140k implies a 115% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1970 — 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. Crime grade is D 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: 1.03% ✓
• Cap rate: 7.30%
• Cash-on-cash: 3.58%
• DSCR: 1.16
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $190,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 N Fourth St	0.10mi	4/2.0	1,871 (+4%)	1mo	$215,000	$115	84
702 N Nottawa St	0.19mi	3/2.0 (-1)	1,782 (-1%)	1mo	$182,000	$102	80
701 N Nottawa St	0.19mi	4/1.0	1,680 (-7%)	8mo	$90,000	$54	73
402 N 4th St	0.26mi	4/2.5	1,664 (-8%)	6mo	$200,000	$120	64
601 N Nottawa St	0.24mi	4/2.0	1,962 (+9%)	10mo	$230,000	$117	61
911 Oakwood Dr	0.54mi	3/1.5 (-1)	1,848 (+3%)	11mo	$180,000	$97	54
1005 Meadowlane Dr	0.30mi	4/2.0	2,032 (+13%)	11mo	$215,000	$106	52
504 E Chicago Rd	0.68mi	3/1.5 (-1)	1,700 (-6%)	2mo	$225,000	$132	51
814 N Lakeview Ave	0.56mi	4/2.0	1,560 (-13%)	3mo	$225,000	$144	45
605 E West St	0.61mi	3/2.0 (-1)	1,600 (-11%)	6mo	$44,500	$28	39
115 N Monroe St	0.60mi	4/2.5	2,018 (+12%)	9mo	$70,000	$35	38
103 S Prospect St	0.73mi	5/1.5 (+1)	1,648 (-8%)	12mo	$160,000	$97	35

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: -10.6%
• Equity multiple: 0.61×
• Total profit: $-15,181
• Equity at exit: $20,874

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-3,396
• 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 49091

• Active inventory: 113
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,446 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$233 /mo · $2,793/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $117

Break-even live

Break-even rent $1,298

Max offer price $140,000

Occupancy floor 87%

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: —

Listing history 50 events

1. 2026-06-18
   days on market $140,000 Active 6 DOM
2. 2026-06-17
   days on market $140,000 Active 5 DOM
3. 2026-06-16
   days on market $140,000 Active 4 DOM
4. 2026-06-16
   status $140,000 Active 3 DOM
5. 2026-05-31
   statusdays on market $140,000 Pending 3 DOM
6. 2026-05-27
   listed $140,000 Active 700-char remark

   Show marketing remark (700 chars)

   Excellent investment opportunity in the City of Sturgis! This unique property features two homes on one lot; both currently registered as rental properties with the city and rental certification valid through 9/2027. The first home is, currently owner-occupied, offers 4 bedrooms and 1 bathroom with plenty of space and future income potential. The second home is a 1 bedroom, 1 bathroom unit currently generating $800/month in rental income. Whether you're looking to expand your portfolio, owner-occupy while generating rental income, or maximize cash flow with two rental units, this property offers flexibility and opportunity. Convenient location close to downtown, schools, and local amenities.

7. 2026-05-27
   listed $140,000 Active 700-char remark

   Show marketing remark (700 chars)

   Excellent investment opportunity in the City of Sturgis! This unique property features two homes on one lot; both currently registered as rental properties with the city and rental certification valid through 9/2027. The first home is, currently owner-occupied, offers 4 bedrooms and 1 bathroom with plenty of space and future income potential. The second home is a 1 bedroom, 1 bathroom unit currently generating $800/month in rental income. Whether you're looking to expand your portfolio, owner-occupy while generating rental income, or maximize cash flow with two rental units, this property offers flexibility and opportunity. Convenient location close to downtown, schools, and local amenities.

8. 2026-05-27
   listed $140,000 Active

   Show marketing remark (700 chars)

   Excellent investment opportunity in the City of Sturgis! This unique property features two homes on one lot; both currently registered as rental properties with the city and rental certification valid through 9/2027. The first home is, currently owner-occupied, offers 4 bedrooms and 1 bathroom with plenty of space and future income potential. The second home is a 1 bedroom, 1 bathroom unit currently generating $800/month in rental income. Whether you're looking to expand your portfolio, owner-occupy while generating rental income, or maximize cash flow with two rental units, this property offers flexibility and opportunity. Convenient location close to downtown, schools, and local amenities.

9. 2026-01-26
   status Pending
10. 2026-01-26
    status Pending
11. 2026-01-26
    historical
12. 2026-01-26
    historical
13. 2026-01-14
    price $155,000
14. 2026-01-14
    price $155,000
15. 2026-01-14
    price $155,000
16. 2025-12-31
    price $162,000
17. 2025-12-30
    price $162,000
18. 2025-12-30
    price $162,000
19. 2025-12-18
    price $169,900
20. 2025-12-17
    price $169,900
21. 2025-12-17
    price $169,900
22. 2025-12-05
    price $175,000
23. 2025-12-05
    price $175,000
24. 2025-12-05
    price $175,000
25. 2025-11-21
    price $180,000
26. 2025-11-21
    price $180,000
27. 2025-11-21
    price $180,000
28. 2025-11-13
    price $187,000
29. 2025-11-12
    price $187,000
30. 2025-11-12
    price $187,000
31. 2025-11-08
    listed $197,750 Active
32. 2025-11-08
    listed $197,750 Active
33. 2022-11-28
    soldstatus $65,000
34. 2022-09-12
    soldstatus $51,000
35. 2015-12-14
    soldstatus $50,000
36. 2015-12-03
    soldstatus $50,000
37. 2015-12-03
    soldstatus $50,000 Sold
38. 2015-11-15
    status Pending
39. 2015-09-04
    listed $59,500 Active
40. 2015-08-20
    listed $59,500
41. 2014-09-26
    historical
42. 2014-09-26
    historical
43. 2014-09-24
    historical
44. 2014-05-13
    historical
45. 2014-05-13
    historical
46. 2011-05-20
    listed $65,500
47. 2011-05-20
    listed $65,500
48. 2010-12-10
    historical
49. 2010-12-10
    historical
50. 2009-10-13
    listed $75,500

ⓘ 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: $2,793 · $233/mo
• Projected year-2 tax: $2,793 · $233/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 6/10 Major FEMA zone X (unshaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $17,350
• − Mortgage interest: −$7,842
• − Property taxes: −$2,793
• − Insurance: −$700
• − Repairs & maintenance: −$1,388
• − Management: −$1,388
• − Depreciation: −$4,073
• Taxable loss: −$834
• Est. tax savings @ 24.0%: +$200
• After-tax cash flow: $1,603/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: Sturgis Public Schools
• NCES district ID: 2633090
• Math proficiency: 20% ▼ -4.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $40,702
• Composite: 21.95/100
• National rank: #8220
• State rank: #413 of 540 in MI

Livability — Sturgis

• Score: 73/100
• State rank: #226
• US rank: #5687

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sturgis, MI
• Population (ZIP): 19,448

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 58,726 people
• By 2030: 57,030 · -2.9%
• By 2040: 53,266 · -9.3%
• By 2050: 49,343 · -16.0%
• By 2075: 40,441 · -31.1%
• By 2100: 31,981 · -45.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 18% Two or more races 12% Native American 1%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Italian 10% Romanian 4% Iranian 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 79% English-only · Spanish 16% German/W. Germanic 4%

Political lean MEDSL · St. Joseph

• 2024 margin: Solid R (+34.0) · D 32.2% · R 66.2% · Other 1.5%
• 2008→2024 swing: -31.8pp toward R · 2008: -2.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+31.7 2016: R+31.0 2012: R+12.3 2008: R+2.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -121.64%
• Current HPI: 205.9474
• 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

+45.8% since first listed

55 events — show timeline

• 2026-05-27 Listed $140,000 REALCOMP
• 2026-05-27 Listed $140,000 SW Michigan MLS
• 2026-05-27 Listed $140,000 MiRealSource-MiMLS
• 2026-01-26 Pending — MiRealSource-MiMLS
• 2026-01-26 Pending — REALCOMP
• 2026-01-26 Listing Removed — REALCOMP
• 2026-01-26 Listing Removed — MiRealSource-MiMLS
• 2026-01-14 Price Changed $155,000 MiRealSource-MiMLS
• 2026-01-14 Price Changed $155,000 REALCOMP
• 2026-01-14 Price Changed $155,000 SW Michigan MLS
• 2025-12-31 Price Changed $162,000 MiRealSource-MiMLS
• 2025-12-30 Price Changed $162,000 REALCOMP
• 2025-12-30 Price Changed $162,000 SW Michigan MLS
• 2025-12-18 Price Changed $169,900 MiRealSource-MiMLS
• 2025-12-17 Price Changed $169,900 REALCOMP
• 2025-12-17 Price Changed $169,900 SW Michigan MLS
• 2025-12-05 Price Changed $175,000 MiRealSource-MiMLS
• 2025-12-05 Price Changed $175,000 REALCOMP
• 2025-12-05 Price Changed $175,000 SW Michigan MLS
• 2025-11-21 Price Changed $180,000 MiRealSource-MiMLS
• 2025-11-21 Price Changed $180,000 REALCOMP
• 2025-11-21 Price Changed $180,000 SW Michigan MLS
• 2025-11-13 Price Changed $187,000 MiRealSource-MiMLS
• 2025-11-12 Price Changed $187,000 REALCOMP
• 2025-11-12 Price Changed $187,000 SW Michigan MLS
• 2025-11-08 Listed $197,750 REALCOMP
• 2025-11-08 Listed $197,750 MiRealSource-MiMLS
• 2022-11-28 Sold (Public Records) $65,000 Public Records
• 2022-09-12 Sold (Public Records) $51,000 Public Records
• 2015-12-14 Sold (Public Records) $50,000 Public Records
• 2015-12-03 Sold (MLS) $50,000 SW Michigan MLS
• 2015-12-03 Sold (MLS) $50,000 REALCOMP
• 2015-11-15 Pending — SW Michigan MLS
• 2015-09-04 Listed $59,500 SW Michigan MLS
• 2015-08-20 Listed $59,500 REALCOMP
• 2014-09-26 Listing Removed — SW Michigan MLS
• 2014-09-26 Listing Removed — SW Michigan MLS
• 2014-09-24 Listing Removed — SW Michigan MLS
• 2014-05-13 Listing Removed — REALCOMP
• 2014-05-13 Listing Removed — SW Michigan MLS
• 2011-05-20 Listed $65,500 REALCOMP
• 2011-05-20 Listed $65,500 SW Michigan MLS
• 2010-12-10 Listing Removed — SW Michigan MLS
• 2010-12-10 Listing Removed — REALCOMP
• 2009-10-13 Listed $75,500 SW Michigan MLS
• 2009-10-13 Listed $75,500 REALCOMP
• 2008-07-23 Listing Removed — REALCOMP
• 2007-07-17 Listed $89,500 REALCOMP
• 2007-07-17 Listed $89,500 SW Michigan MLS
• 2006-05-31 Listing Removed — REALCOMP
• 2006-01-18 Listed $89,900 REALCOMP
• 2006-01-18 Listed $89,900 SW Michigan MLS
• 2005-11-14 Listing Removed — REALCOMP
• 2005-09-14 Listed $96,000 REALCOMP
• 2005-09-14 Listed $96,000 SW Michigan MLS

Property tax history

+6.5%/yr

Latest (2025): $2,793 · -13.9% YoY. Source: county tax records.