410 W Paterson St · Kalamazoo, MI 49007

$129,900

3 bd · 2.0 ba · 1,486 sqft · SingleFamily public records · 53 Days on market

Built 1910 6,534 sqft lot Est $140k · 7% 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 +27.7/30.0
• ARV discount +10.7/15.0
• DSCR +9.8/10.0
• 1% rule +7.2/10.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated 3-bedroom home featuring a versatile bonus room. Every detail has been thoughtfully refreshed, offering a move-in ready experience that blends modern updates with classic charm. The heart of the home shines with brand-new kitchen cabinets and countertops. Both bathrooms have been completely updated with new fixtures and finishes, while new flooring and plush carpeting throughout provide a fresh, cohesive feel from room to room. Enjoy hosting family dinners in the formal dining room, or relax year-round in the spacious enclosed front and back porches, offering additional living space ideal for morning coffee, entertaining guests, or simply unwinding. Conveniently located just minutes from the exciting new Kalamazoo Event Center in vibrant Kalamazoo, this home puts you close to downtown dining, entertainment, and community events. Even better, the property is Kalamazoo Promise qualified, offering incredible educational benefits. With modern updates, flexible living space, and an unbeatable location, this home is the perfect blend of comfort, value, and opportunity. Schedule your showing today and see all this home has to offer!

Key facts

• Enclosed back porch
• New flooring
• Updated bathrooms

Tags

• UPDATED KITCHEN CABINETS
• UPDATED BATHROOMS
• NEW FLOORING
• ENCLOSED FRONT PORCH
• ENCLOSED BACK PORCH
• CLOSE TO DOWNTOWN DINING

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional single-family residence; Built in 1910
• Construction: Vinyl siding; Shingle roof
• Exterior features: 0.15-acre lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: 7 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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 soft (-0.8%/yr); 77 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• At $1,587/mo this rent would consume 48% of the median local household income ($39k/yr) (locally 816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 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 53 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 39y 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 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1910 — 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: 1.22% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.94%
• DSCR: 1.58
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $139,684
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 W Paterson St	0.00mi	3/2.0	1,486 (0%)	1mo	$129,900	$87	99
302 W Frank St	0.33mi	3/1.5	1,465 (-1%)	0mo	$176,000	$120	80
1018 N Rose St	0.23mi	4/2.0 (+1)	1,398 (-6%)	2mo	$135,000	$97	73
1005 N Park St	0.18mi	4/1.5 (+1)	1,587 (+7%)	2mo	$131,500	$83	72
1328 Krom St	0.32mi	4/2.0 (+1)	1,550 (+4%)	2mo	$145,900	$94	71
116 Martin St	0.40mi	4/2.0 (+1)	1,440 (-3%)	7mo	$190,000	$132	65
1349 Krom St	0.30mi	4/1.5 (+1)	1,612 (+8%)	1mo	$125,000	$78	64
608 W Ransom St	0.50mi	3/1.0	1,464 (-2%)	8mo	$111,900	$76	63
731 Mabel St	0.38mi	4/1.5 (+1)	1,386 (-7%)	1mo	$63,000	$45	63
1111 Woodward Ave	0.44mi	3/1.0	1,356 (-9%)	10mo	$137,000	$101	53
1010 Cobb Ave	0.37mi	4/1.0 (+1)	1,331 (-10%)	9mo	$167,000	$125	48
1220 Ogden Ave	0.75mi	3/1.0	1,413 (-5%)	9mo	$31,000	$22	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-722
• Equity at exit: $19,369

10-year hold

• IRR: 5.8%
• Equity multiple: 1.37×
• Total profit: $13,567
• Equity at exit: $11,231

Cash invested: $36,372 (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 49007

• Rents YoY: -0.8%
• Active inventory: 77
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,587 high
• Mortgage (P&I): −$681
• Tax from tax record: −$126 /mo · $1,513/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $392

Break-even live

Break-even rent $1,090

Max offer price $129,900

Occupancy floor 70%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
708 Elizabeth St Kalamazoo, MI	3.0	1.5	1128	$1,250	$1.11	13d	1	0.35mi
815 N Pitcher St Unit 12 Kalamazoo, MI	2.0	2.0	982	$1,550	$1.58	21d	1	0.53mi
2004 Woodward Ave Kalamazoo, MI	4.0	2.0	1710	$1,500	$0.88	13d	1	0.62mi
722 W Kalamazoo Ave Unit 2 Kalamazoo, MI	3.0	1.0	1800	$1,600	$0.89	21d	1	0.71mi
525 E Ransom St Kalamazoo, MI	1.0–2.0	1.0–2.0	807	$1,625	$2.01	21d	1	0.76mi
232 Woodward Ave Unit 5 Kalamazoo, MI	2.0	1.0	1400	$999	$0.71	13d	1	0.83mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	21d	1	0.91mi
816 W Main St Kalamazoo, MI	3.0	1.0	1005	$1,100	$1.09	21d	1	0.91mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	21d	1	0.92mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	13d	1	0.93mi
2420 Upper Riverview Dr Kalamazoo, MI	3.0	1.0	925	$1,300	$1.41	21d	1	1.23mi
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	13d	2	1.23mi
1403 Sherwood Ave Unit 2 Kalamazoo, MI	2.0	1.0	900	$1,000	$1.11	21d	1	1.39mi
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	13d	12	1.39mi
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	21d	1	1.47mi

Listing history 8 events

1. 2026-05-08
   status Pending 1163-char remark

   Show marketing remark (960 chars)

   Beautifully updated 3-bedroom home featuring a versatile bonus room. Every detail has been thoughtfully refreshed, offering a move-in ready experience that blends modern updates with classic charm. The heart of the home shines with brand-new kitchen cabinets and countertops. Both bathrooms have been completely updated with new fixtures and finishes, while new flooring and plush carpeting throughout provide a fresh, cohesive feel from room to room. Enjoy hosting family dinners in the formal dining room, or relax year-round in the spacious enclosed front and back porches, offering additional living space ideal for morning coffee, entertaining guests, or simply unwinding. Conveniently located just minutes from the exciting new Kalamazoo Event Center in vibrant Kalamazoo, this home puts you close to downtown dining, entertainment, and community events. Even better, the property is Kalamazoo Promise qualified, offering incredible educational benefits.

2. 2026-05-08
   status Pending 960-char remark

   Show marketing remark (960 chars)

   Beautifully updated 3-bedroom home featuring a versatile bonus room. Every detail has been thoughtfully refreshed, offering a move-in ready experience that blends modern updates with classic charm. The heart of the home shines with brand-new kitchen cabinets and countertops. Both bathrooms have been completely updated with new fixtures and finishes, while new flooring and plush carpeting throughout provide a fresh, cohesive feel from room to room. Enjoy hosting family dinners in the formal dining room, or relax year-round in the spacious enclosed front and back porches, offering additional living space ideal for morning coffee, entertaining guests, or simply unwinding. Conveniently located just minutes from the exciting new Kalamazoo Event Center in vibrant Kalamazoo, this home puts you close to downtown dining, entertainment, and community events. Even better, the property is Kalamazoo Promise qualified, offering incredible educational benefits.

3. 2026-05-08
   status Pending

   Show marketing remark (960 chars)

   Beautifully updated 3-bedroom home featuring a versatile bonus room. Every detail has been thoughtfully refreshed, offering a move-in ready experience that blends modern updates with classic charm. The heart of the home shines with brand-new kitchen cabinets and countertops. Both bathrooms have been completely updated with new fixtures and finishes, while new flooring and plush carpeting throughout provide a fresh, cohesive feel from room to room. Enjoy hosting family dinners in the formal dining room, or relax year-round in the spacious enclosed front and back porches, offering additional living space ideal for morning coffee, entertaining guests, or simply unwinding. Conveniently located just minutes from the exciting new Kalamazoo Event Center in vibrant Kalamazoo, this home puts you close to downtown dining, entertainment, and community events. Even better, the property is Kalamazoo Promise qualified, offering incredible educational benefits.

4. 2026-03-16
   listed $129,900 Active 1163-char remark

   Show marketing remark (960 chars)

   Beautifully updated 3-bedroom home featuring a versatile bonus room. Every detail has been thoughtfully refreshed, offering a move-in ready experience that blends modern updates with classic charm. The heart of the home shines with brand-new kitchen cabinets and countertops. Both bathrooms have been completely updated with new fixtures and finishes, while new flooring and plush carpeting throughout provide a fresh, cohesive feel from room to room. Enjoy hosting family dinners in the formal dining room, or relax year-round in the spacious enclosed front and back porches, offering additional living space ideal for morning coffee, entertaining guests, or simply unwinding. Conveniently located just minutes from the exciting new Kalamazoo Event Center in vibrant Kalamazoo, this home puts you close to downtown dining, entertainment, and community events. Even better, the property is Kalamazoo Promise qualified, offering incredible educational benefits.

5. 2026-03-16
   listed $129,900 Active 960-char remark

   Show marketing remark (960 chars)

   Beautifully updated 3-bedroom home featuring a versatile bonus room. Every detail has been thoughtfully refreshed, offering a move-in ready experience that blends modern updates with classic charm. The heart of the home shines with brand-new kitchen cabinets and countertops. Both bathrooms have been completely updated with new fixtures and finishes, while new flooring and plush carpeting throughout provide a fresh, cohesive feel from room to room. Enjoy hosting family dinners in the formal dining room, or relax year-round in the spacious enclosed front and back porches, offering additional living space ideal for morning coffee, entertaining guests, or simply unwinding. Conveniently located just minutes from the exciting new Kalamazoo Event Center in vibrant Kalamazoo, this home puts you close to downtown dining, entertainment, and community events. Even better, the property is Kalamazoo Promise qualified, offering incredible educational benefits.

6. 2026-03-16
   listed $129,900 Active

   Show marketing remark (960 chars)

   Beautifully updated 3-bedroom home featuring a versatile bonus room. Every detail has been thoughtfully refreshed, offering a move-in ready experience that blends modern updates with classic charm. The heart of the home shines with brand-new kitchen cabinets and countertops. Both bathrooms have been completely updated with new fixtures and finishes, while new flooring and plush carpeting throughout provide a fresh, cohesive feel from room to room. Enjoy hosting family dinners in the formal dining room, or relax year-round in the spacious enclosed front and back porches, offering additional living space ideal for morning coffee, entertaining guests, or simply unwinding. Conveniently located just minutes from the exciting new Kalamazoo Event Center in vibrant Kalamazoo, this home puts you close to downtown dining, entertainment, and community events. Even better, the property is Kalamazoo Promise qualified, offering incredible educational benefits.

7. 1987-06-29
   listed $20,900
8. 1987-06-29
   listed $20,900

ⓘ 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: $1,513 · $126/mo
• Projected year-2 tax: $1,757 · $146/mo
• Expected delta: +$244/yr (+$20/mo · 16.1%)

ⓘ 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 ≥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: $19,041
• − Mortgage interest: −$7,276
• − Property taxes: −$1,513
• − Insurance: −$650
• − Repairs & maintenance: −$1,523
• − Management: −$1,523
• − Depreciation: −$3,779
• Taxable income: $2,777
• Est. tax owed @ 24.0%: −$666
• After-tax cash flow: $4,039/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): 9,836
• Household income: $39,344
• Rent vs Own: 75.8% rent · 24.2% own
• Severe rent burden: 816.0

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 0.61)
• Race & ethnicity: White 44% Black 44% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1% Arabic 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: ▼ -68.80%
• Current HPI: 112.4973
• Rent YoY: ▼ -0.85%
• 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

+521.5% since first listed

8 events — show timeline

• 2026-05-08 Pending — REALCOMP
• 2026-05-08 Pending — MiRealSource-MiMLS
• 2026-05-08 Pending — SW Michigan MLS
• 2026-03-16 Listed $129,900 REALCOMP
• 2026-03-16 Listed $129,900 SW Michigan MLS
• 2026-03-16 Listed $129,900 MiRealSource-MiMLS
• 1987-06-29 Listed $20,900 REALCOMP
• 1987-06-29 Listed $20,900 SW Michigan MLS

Property tax history

+2.8%/yr

Latest (2025): $1,513 · -33.7% YoY. Source: county tax records.