38 Margaret St · Battle Creek, MI 49014

$55,000

3 bd · 2.0 ba · 1,293 sqft · SingleFamily public records · 53 Days on market

Built 1902 4,792 sqft lot $43/sqft · 34% below area Est $84k · 34% under

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

HOLD HARMLESS FROM THE DOCUMENTS SECTION MUST BE SIGNED AND EMAILED TO THE LISTING AGENT BEFORE TOURS ARE APPROVED Opportunity knocks! This Battle Creek property offers great potential for investors or handy buyers looking to finish what's been started. Much of the cosmetic work is already done, including new flooring, fresh drywall, updated bathrooms with new fixtures, fresh interior paint, and a newer electrical panel. With a little more work and the right finishing touches, this could be an excellent flip, rental, or affordable home to make your own. Convenient location near downtown and major amenities. Sold as-is, where-is. Potentially eligible for FHA 203(k) or other renovation-type financing--buyer to verify with lender. This home is condemned and buyer will need to work with the City to get a Certificate of Occupancy.

Key facts

• New flooring
• Updated bathrooms
• Convenient location

Tags

• NEW FLOORING
• UPDATED BATHROOMS
• FRESH INTERIOR PAINT
• NEWER ELECTRICAL PANEL
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $493 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.3% 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: 135 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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 31y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $55k implies a 175% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; flood insurance adds $56/mo; built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $53,350 (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 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.25% ✓
• Cap rate: 18.26%
• Cash-on-cash: 42.73%
• DSCR: 2.90
• GRM: 3.7

CMA / ARV

• ARV (median comp): $83,682
• List price: $55,000
• Delta: -34.28%
• 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
33 N Burdge St	0.12mi	2/1.5 (-1)	1,260 (-3%)	9mo	$32,500	$26	75
802 E Michigan Ave E	0.16mi	4/1.0 (+1)	1,344 (+4%)	8mo	$125,000	$93	70
222 Lathrop Ave	0.48mi	3/2.0	1,320 (+2%)	6mo	$45,000	$34	69
37 Inn Rd	0.42mi	3/1.0	1,227 (-5%)	2mo	$105,000	$86	66
111 Nelson St	0.54mi	4/1.0 (+1)	1,265 (-2%)	3mo	$119,900	$95	59
195 N Union St	0.68mi	3/1.0	1,340 (+4%)	6mo	$175,000	$131	53
113 Rook Ct	0.26mi	2/1.0 (-1)	1,446 (+12%)	8mo	$43,000	$30	52
174 Lathrop Ave	0.58mi	4/1.0 (+1)	1,236 (-4%)	6mo	$129,000	$104	51
138 Rook St	0.29mi	2/1.0 (-1)	1,100 (-15%)	5mo	$110,000	$100	49
110 Post Ave	0.72mi	4/2.0 (+1)	1,391 (+8%)	1mo	$133,500	$96	48
124 Lathrop Ave	0.69mi	3/1.0	1,183 (-8%)	2mo	$101,000	$85	48
93 Illinois St	0.75mi	3/1.5	1,200 (-7%)	10mo	$100,500	$84	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.6%
• Equity multiple: 2.47×
• Total profit: $22,563
• Equity at exit: $8,201

10-year hold

• IRR: 41.5%
• Equity multiple: 4.92×
• Total profit: $60,410
• Equity at exit: $4,755

Cash invested: $15,400 (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 49014

• Home prices YoY: -28.7%
• Active inventory: 135
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,240 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$120 /mo · $1,437/yr
• Insurance: −$23
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $493

Break-even live

Break-even rent $616

Max offer price $55,000

Occupancy floor 55%

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: $13,750
• Closing costs: $1,650
• 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	44d	1	1.17mi
226 Taft Ct Battle Creek, MI	1.0–2.0	1.0	762	$985	$1.29	44d	8	1.36mi

Listing history 29 events

1. 2026-06-07
   statusdays on market $55,000 Pending 53 DOM
2. 2026-06-05
   days on market $55,000 Active 50 DOM
3. 2026-06-02
   days on market $55,000 Active 48 DOM
4. 2026-06-01
   days on market $55,000 Active 47 DOM
5. 2026-05-31
   days on market $55,000 Active 46 DOM
6. 2026-05-30
   days on market $55,000 Active 45 DOM
7. 2026-05-15
   status Active 837-char remark

   Show marketing remark (837 chars)

   HOLD HARMLESS FROM THE DOCUMENTS SECTION MUST BE SIGNED AND EMAILED TO THE LISTING AGENT BEFORE TOURS ARE APPROVED Opportunity knocks! This Battle Creek property offers great potential for investors or handy buyers looking to finish what's been started. Much of the cosmetic work is already done, including new flooring, fresh drywall, updated bathrooms with new fixtures, fresh interior paint, and a newer electrical panel. With a little more work and the right finishing touches, this could be an excellent flip, rental, or affordable home to make your own. Convenient location near downtown and major amenities. Sold as-is, where-is. Potentially eligible for FHA 203(k) or other renovation-type financing--buyer to verify with lender. This home is condemned and buyer will need to work with the City to get a Certificate of Occupancy.

8. 2026-05-11
   historical 837-char remark

   Show marketing remark (837 chars)

   HOLD HARMLESS FROM THE DOCUMENTS SECTION MUST BE SIGNED AND EMAILED TO THE LISTING AGENT BEFORE TOURS ARE APPROVED Opportunity knocks! This Battle Creek property offers great potential for investors or handy buyers looking to finish what's been started. Much of the cosmetic work is already done, including new flooring, fresh drywall, updated bathrooms with new fixtures, fresh interior paint, and a newer electrical panel. With a little more work and the right finishing touches, this could be an excellent flip, rental, or affordable home to make your own. Convenient location near downtown and major amenities. Sold as-is, where-is. Potentially eligible for FHA 203(k) or other renovation-type financing--buyer to verify with lender. This home is condemned and buyer will need to work with the City to get a Certificate of Occupancy.

9. 2026-04-29
   price $55,000 837-char remark

   Show marketing remark (837 chars)

   HOLD HARMLESS FROM THE DOCUMENTS SECTION MUST BE SIGNED AND EMAILED TO THE LISTING AGENT BEFORE TOURS ARE APPROVED Opportunity knocks! This Battle Creek property offers great potential for investors or handy buyers looking to finish what's been started. Much of the cosmetic work is already done, including new flooring, fresh drywall, updated bathrooms with new fixtures, fresh interior paint, and a newer electrical panel. With a little more work and the right finishing touches, this could be an excellent flip, rental, or affordable home to make your own. Convenient location near downtown and major amenities. Sold as-is, where-is. Potentially eligible for FHA 203(k) or other renovation-type financing--buyer to verify with lender. This home is condemned and buyer will need to work with the City to get a Certificate of Occupancy.

10. 2026-04-28
    price $55,000 837-char remark

    Show marketing remark (837 chars)

    HOLD HARMLESS FROM THE DOCUMENTS SECTION MUST BE SIGNED AND EMAILED TO THE LISTING AGENT BEFORE TOURS ARE APPROVED Opportunity knocks! This Battle Creek property offers great potential for investors or handy buyers looking to finish what's been started. Much of the cosmetic work is already done, including new flooring, fresh drywall, updated bathrooms with new fixtures, fresh interior paint, and a newer electrical panel. With a little more work and the right finishing touches, this could be an excellent flip, rental, or affordable home to make your own. Convenient location near downtown and major amenities. Sold as-is, where-is. Potentially eligible for FHA 203(k) or other renovation-type financing--buyer to verify with lender. This home is condemned and buyer will need to work with the City to get a Certificate of Occupancy.

11. 2026-04-28
    price $55,000

    Show marketing remark (837 chars)

    HOLD HARMLESS FROM THE DOCUMENTS SECTION MUST BE SIGNED AND EMAILED TO THE LISTING AGENT BEFORE TOURS ARE APPROVED Opportunity knocks! This Battle Creek property offers great potential for investors or handy buyers looking to finish what's been started. Much of the cosmetic work is already done, including new flooring, fresh drywall, updated bathrooms with new fixtures, fresh interior paint, and a newer electrical panel. With a little more work and the right finishing touches, this could be an excellent flip, rental, or affordable home to make your own. Convenient location near downtown and major amenities. Sold as-is, where-is. Potentially eligible for FHA 203(k) or other renovation-type financing--buyer to verify with lender. This home is condemned and buyer will need to work with the City to get a Certificate of Occupancy.

12. 2026-04-16
    listed $60,000 Active 837-char remark

    Show marketing remark (837 chars)

    HOLD HARMLESS FROM THE DOCUMENTS SECTION MUST BE SIGNED AND EMAILED TO THE LISTING AGENT BEFORE TOURS ARE APPROVED Opportunity knocks! This Battle Creek property offers great potential for investors or handy buyers looking to finish what's been started. Much of the cosmetic work is already done, including new flooring, fresh drywall, updated bathrooms with new fixtures, fresh interior paint, and a newer electrical panel. With a little more work and the right finishing touches, this could be an excellent flip, rental, or affordable home to make your own. Convenient location near downtown and major amenities. Sold as-is, where-is. Potentially eligible for FHA 203(k) or other renovation-type financing--buyer to verify with lender. This home is condemned and buyer will need to work with the City to get a Certificate of Occupancy.

13. 2026-04-15
    listed $60,000 Active 837-char remark

    Show marketing remark (837 chars)

    HOLD HARMLESS FROM THE DOCUMENTS SECTION MUST BE SIGNED AND EMAILED TO THE LISTING AGENT BEFORE TOURS ARE APPROVED Opportunity knocks! This Battle Creek property offers great potential for investors or handy buyers looking to finish what's been started. Much of the cosmetic work is already done, including new flooring, fresh drywall, updated bathrooms with new fixtures, fresh interior paint, and a newer electrical panel. With a little more work and the right finishing touches, this could be an excellent flip, rental, or affordable home to make your own. Convenient location near downtown and major amenities. Sold as-is, where-is. Potentially eligible for FHA 203(k) or other renovation-type financing--buyer to verify with lender. This home is condemned and buyer will need to work with the City to get a Certificate of Occupancy.

14. 2026-04-15
    listed $60,000 Active

    Show marketing remark (837 chars)

    HOLD HARMLESS FROM THE DOCUMENTS SECTION MUST BE SIGNED AND EMAILED TO THE LISTING AGENT BEFORE TOURS ARE APPROVED Opportunity knocks! This Battle Creek property offers great potential for investors or handy buyers looking to finish what's been started. Much of the cosmetic work is already done, including new flooring, fresh drywall, updated bathrooms with new fixtures, fresh interior paint, and a newer electrical panel. With a little more work and the right finishing touches, this could be an excellent flip, rental, or affordable home to make your own. Convenient location near downtown and major amenities. Sold as-is, where-is. Potentially eligible for FHA 203(k) or other renovation-type financing--buyer to verify with lender. This home is condemned and buyer will need to work with the City to get a Certificate of Occupancy.

15. 2026-04-14
    historical
16. 2026-04-14
    historical
17. 2026-01-22
    listed $60,000 Active
18. 2026-01-22
    listed $60,000 Active
19. 2025-03-15
    historical
20. 2025-03-15
    historical
21. 2025-01-17
    price $149,900
22. 2025-01-17
    price $149,900
23. 2025-01-17
    price $149,900
24. 2025-01-13
    listed $160,000 Active
25. 2025-01-13
    listed $160,000 Active
26. 1995-10-03
    soldstatus $20,000
27. 1995-10-03
    soldstatus $20,000
28. 1995-07-03
    listed $21,000
29. 1995-07-03
    listed $21,000

ⓘ 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: $1,437 · $120/mo
• Projected year-2 tax: $1,437 · $120/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $14,879
• − Mortgage interest: −$3,081
• − Property taxes: −$1,437
• − Insurance: −$942
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − Depreciation: −$1,600
• Taxable income: $5,439
• Est. tax owed @ 24.0%: −$1,305
• After-tax cash flow: $4,609/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): 21,980
• Household income: $69,009
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 416.0

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% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 4% Iranian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -97.29%
• Current HPI: 241.3422
• 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

+161.9% since first listed

23 events — show timeline

• 2026-05-15 Relisted — MiRealSource-MiMLS
• 2026-05-11 Listing Removed — MiRealSource-MiMLS
• 2026-04-29 Price Changed $55,000 MiRealSource-MiMLS
• 2026-04-28 Price Changed $55,000 REALCOMP
• 2026-04-28 Price Changed $55,000 SW Michigan MLS
• 2026-04-16 Listed $60,000 REALCOMP
• 2026-04-15 Listed $60,000 SW Michigan MLS
• 2026-04-15 Listed $60,000 MiRealSource-MiMLS
• 2026-04-14 Listing Removed — MiRealSource-MiMLS
• 2026-04-14 Listing Removed — REALCOMP
• 2026-01-22 Listed $60,000 MiRealSource-MiMLS
• 2026-01-22 Listed $60,000 REALCOMP
• 2025-03-15 Listing Removed — REALCOMP
• 2025-03-15 Listing Removed — MiRealSource-MiMLS
• 2025-01-17 Price Changed $149,900 MiRealSource-MiMLS
• 2025-01-17 Price Changed $149,900 REALCOMP
• 2025-01-17 Price Changed $149,900 SW Michigan MLS
• 2025-01-13 Listed $160,000 REALCOMP
• 2025-01-13 Listed $160,000 MiRealSource-MiMLS
• 1995-10-03 Sold (MLS) $20,000 REALCOMP
• 1995-10-03 Sold (MLS) $20,000 SW Michigan MLS
• 1995-07-03 Listed $21,000 REALCOMP
• 1995-07-03 Listed $21,000 SW Michigan MLS

Property tax history

+6.2%/yr

Latest (2025): $1,437 · -20.5% YoY. Source: county tax records.