11635 E D Ave · South Gull Lake, MI 49083

$229,900

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 4 Days on market

Built 1960 1.00 ac lot

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Why this score? — see what drove the F 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 +9.0/30.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Absolutely adorable and move-in ready! This solidly built home is full of charm, character, and thoughtful updates throughout. The bright and inviting interior features hardwood floors, replacement windows, a cozy fireplace with gas logs, and numerous custom touches that make this home truly special. The finished lower level offers a spacious family room, additional bedroom, and half bath, providing flexible living space for family, guests, or hobbies. Outside, enjoy the fully fenced backyard, mature shade trees, and detached 2-car garage. Major improvements include a newer roof, furnace, central air, updated electrical, plumbing, and much more. Meticulously maintained and packed with value. Gull Lake public access is about 10 minutes away at Ross Township Park. A truly special home not to be missed.

Key facts

• Cozy fireplace
• Hardwood floors
• Replacement windows

Tags

• HARDWOOD FLOORS
• REPLACEMENT WINDOWS
• COZY FIREPLACE
• FINISHED LOWER LEVEL
• SPACIOUS FAMILY ROOM
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Well water; Natural gas available and connected; Electricity available; Cable connected; High-speed internet
• Home design: Ranch-style single family residence; Built in 1960
• Construction: Vinyl siding; Composition roof; Full foundation
• Exterior features: Corner lot; Paved road access; Shed(s) on property

Interior

• Kitchen: Range; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: Primary bedroom (10 x 13); Bedroom 2 (9 x 9); Bedroom 3 (10 x 8)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Has heating; Has cooling
• Interior features: Garage door opener; Eat-in kitchen; Gas log fireplace; Skylights; Window screens; Replacement windows; Full basement; Total of 4 rooms
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-179 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (13.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (21.7% below list).
• Recommended offer: $180k (21.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 44/100 on livability (#687 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Gull Lake Community Schools (suburban): math 40% / reading 59% proficiency, ranked #93 of 540 in MI (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 129 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 40y 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 $120k; list at $230k implies a 92% gain — meaningful room to come down on a strong offer.

Recommended offer $180,000 (21.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1960 — 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. 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: 0.78% ✗
• Cap rate: 5.36%
• Cash-on-cash: -3.34%
• DSCR: 0.85
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $488,160
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19 Labelle Ter	0.18mi	2/1.0 (-1)	885 (+2%)	13mo	$500,000	$565	72

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: -21.9%
• Equity multiple: 0.24×
• Total profit: $-48,627
• Equity at exit: $34,279

10-year hold

• IRR: -15.7%
• Equity multiple: 0.12×
• Total profit: $-56,891
• Equity at exit: $19,878

Cash invested: $64,372 (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 49083

• Active inventory: 129
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$300 /mo · $3,596/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-179

Break-even live

Break-even rent $2,027

Max offer price $198,259

Occupancy floor —

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12135 Michigan 89 Unit 2 Richland, MI	2.0	2.0	1027	$1,800	$1.75	43d	1	0.53mi

Listing history 4 events

1. 2026-06-14
   statusdays on market $229,900 Pending 4 DOM
2. 2026-06-13
   days on market $229,900 Active 3 DOM
3. 2026-06-10
   remarks 699-char remark
4. 2026-06-10
   listed $229,900 Active 1 DOM

ⓘ 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: $3,596 · $300/mo
• Projected year-2 tax: $3,596 · $300/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 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$12,878
• − Property taxes: −$3,596
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$6,688
• Taxable loss: −$6,168
• Est. tax savings @ 24.0%: +$1,480
• After-tax cash flow: $-669/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: Gull Lake Community Schools
• NCES district ID: 2617250
• Math proficiency: 40% ▼ -6.00%
• Reading proficiency: 59% ▼ -3.00%
• Median HH income: $64,763
• Composite: 43.71/100
• National rank: #2952
• State rank: #93 of 540 in MI

Livability — South Gull Lake

• Score: 44/100
• State rank: #687
• US rank: #26750

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Gull Lake, MI
• Population (ZIP): 8,110

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: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 4% Black 2%
• Common ancestry: Iranian 14% Romanian 7% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 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: ▼ -152.73%
• Current HPI: 235.3459
• 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

+318.0% since first listed

24 events — show timeline

• 2026-06-09 Listed $229,900 SW Michigan MLS
• 2026-06-09 Listed $229,900 REALCOMP
• 2026-06-09 Listed $229,900 MiRealSource-MiMLS
• 2022-05-25 Listing Removed — REALCOMP
• 2018-01-18 Sold (Public Records) $119,900 Public Records
• 2018-01-12 Sold (MLS) $119,900 SW Michigan MLS
• 2018-01-12 Sold (MLS) $119,900 REALCOMP
• 2017-11-16 Pending — SW Michigan MLS
• 2017-11-10 Listed $119,900 SW Michigan MLS
• 2017-11-09 Listed $119,900 REALCOMP
• 2013-11-08 Sold (Public Records) $102,000 Public Records
• 2013-11-05 Sold (MLS) $102,000 REALCOMP
• 2013-11-05 Sold (MLS) $102,000 SW Michigan MLS
• 2013-04-29 Listed $110,000 REALCOMP
• 2013-04-29 Listed $110,000 SW Michigan MLS
• 1996-03-27 Sold (MLS) $82,000 REALCOMP
• 1996-03-27 Sold (MLS) $82,000 SW Michigan MLS
• 1996-02-24 Listed $84,900 REALCOMP
• 1996-02-24 Listed $84,900 SW Michigan MLS
• 1993-12-23 Listing Removed — SW Michigan MLS
• 1993-10-20 Listed $79,900 SW Michigan MLS
• 1993-10-20 Listed $79,900 REALCOMP
• 1986-07-03 Listed $55,000 REALCOMP
• 1986-07-03 Listed $55,000 SW Michigan MLS

Property tax history

+11.7%/yr

Latest (2025): $3,596 · +2.4% YoY. Source: county tax records.