33 Pleasant Ave · Battle Creek, MI 49015

$136,500

2 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 2 Days on market

Built 1935 6,621 sqft lot Est $145k · 6% under

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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 +20.8/30.0
• ARV discount +10.1/15.0
• DSCR +6.6/10.0
• 1% rule +5.1/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Handyman's special in Lakeview Schools! This cute Cape Cod home has great bones, but needs a little fixup on the inside. Hardwood floors, plastered walls with arched doorways, fireplace in living room, nice dining room and galley kitchen is ready for your personal touches. 2 large bedrooms upstairs with dormer windows and hardwood floors. Full basement is partially finished with knotty pine family room. Newer furnace and water heater. Fenced back yard - great location with sidewalks. Wonderful investment opportunity - or great for a handy first time buyer! Don't miss this one - call Cathy or your buyer's agent, today!

Key facts

• Cape cod home
• Galley kitchen
• Arched doorways

Tags

• CAPE COD HOME
• HARDWOOD FLOORS
• ARCHED DOORWAYS
• FIREPLACE IN LIVING ROOM
• GALLEY KITCHEN
• DORMER WINDOWS

Property features AI

Exterior

• Parking: Attached parking; Attached garage (1 car); Carport
• Utilities: Public water; Natural gas connected
• Home design: Cape Cod-style single-family residence; Built in 1935
• Construction: Aluminum siding; Composition roof
• Exterior features: Sidewalk

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Wood-burning fireplace; Screens on windows; Full basement; 7 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $136k.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $136k).
• Cap rate 7.9% 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.
• Lakeview School District (Calhoun) (urban): math 28% / reading 40% proficiency, ranked #291 of 540 in MI (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+11.1%/yr); 165 active listings in the ZIP; 1 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 $944 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 27y 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 $82k; list at $136k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,500

Questions for the listing agent

1. Built in 1935 — 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. 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?
4. 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.
5. 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.
6. 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: 1.01% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.85%
• DSCR: 1.26
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $145,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33 Pleasant Ave	0.00mi	2/1.0	1,036 (0%)	0mo	$130,000	$125	100
243 Winter St	0.18mi	3/1.0 (+1)	960 (-7%)	0mo	$97,000	$101	74
68 Pleasant Ave	0.12mi	3/1.0 (+1)	959 (-7%)	4mo	$133,000	$139	74
121 N 21st St N	0.41mi	2/1.0	1,080 (+4%)	4mo	$164,000	$152	71
228 Summer St	0.20mi	3/2.0 (+1)	1,090 (+5%)	3mo	$118,750	$109	70
106 Circle Dr	0.39mi	2/1.0	990 (-4%)	5mo	$175,000	$177	70
99 Winter St	0.50mi	2/1.0	964 (-7%)	2mo	$130,000	$135	63
514 Iroquois Ave	0.46mi	2/1.0	1,168 (+13%)	2mo	$168,000	$144	55
172 25th St N	0.66mi	3/1.0 (+1)	944 (-9%)	2mo	$160,500	$170	48
294 N 20th St	0.72mi	2/1.0	920 (-11%)	2mo	$103,000	$112	47
236 Surby Ave	0.70mi	3/1.0 (+1)	1,144 (+10%)	2mo	$159,900	$140	44
88 S 24th St	0.66mi	2/1.0	889 (-14%)	4mo	$152,000	$171	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.9%
• Equity multiple: 0.92×
• Total profit: $-2,943
• Equity at exit: $20,353

10-year hold

• IRR: 12.4%
• Equity multiple: 2.20×
• Total profit: $45,980
• Equity at exit: $11,802

Cash invested: $38,220 (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 49015

• Rents YoY: 11.1%
• Active inventory: 165
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,383 medium
• Mortgage (P&I): −$716
• Tax from tax record: −$134 /mo · $1,603/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $186

Break-even live

Break-even rent $1,147

Max offer price $136,500

Occupancy floor 82%

Sensitivity live

Price	-10% $264	-5% $225	+0% $186	+5% $148	+10% $109
Rent	-10% $77	-5% $132	+0% $186	+5% $241	+10% $296
Rate	-1.0pp $255	-0.5pp $221	base $186	+0.5pp $151	+1.0pp $115

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: $34,125
• Closing costs: $4,095
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
449 24th St N Springfield, MI	3.0	1.5	1227	$1,550	$1.26	44d	1	1.46mi

Listing history 27 events

1. 2026-04-29
   status Pending 625-char remark

   Show marketing remark (625 chars)

   Handyman's special in Lakeview Schools! This cute Cape Cod home has great bones, but needs a little fixup on the inside. Hardwood floors, plastered walls with arched doorways, fireplace in living room, nice dining room and galley kitchen is ready for your personal touches. 2 large bedrooms upstairs with dormer windows and hardwood floors. Full basement is partially finished with knotty pine family room. Newer furnace and water heater. Fenced back yard - great location with sidewalks. Wonderful investment opportunity - or great for a handy first time buyer! Don't miss this one - call Cathy or your buyer's agent, today!

2. 2026-04-29
   status Pending 625-char remark

   Show marketing remark (625 chars)

   Handyman's special in Lakeview Schools! This cute Cape Cod home has great bones, but needs a little fixup on the inside. Hardwood floors, plastered walls with arched doorways, fireplace in living room, nice dining room and galley kitchen is ready for your personal touches. 2 large bedrooms upstairs with dormer windows and hardwood floors. Full basement is partially finished with knotty pine family room. Newer furnace and water heater. Fenced back yard - great location with sidewalks. Wonderful investment opportunity - or great for a handy first time buyer! Don't miss this one - call Cathy or your buyer's agent, today!

3. 2026-04-29
   status Pending

   Show marketing remark (625 chars)

   Handyman's special in Lakeview Schools! This cute Cape Cod home has great bones, but needs a little fixup on the inside. Hardwood floors, plastered walls with arched doorways, fireplace in living room, nice dining room and galley kitchen is ready for your personal touches. 2 large bedrooms upstairs with dormer windows and hardwood floors. Full basement is partially finished with knotty pine family room. Newer furnace and water heater. Fenced back yard - great location with sidewalks. Wonderful investment opportunity - or great for a handy first time buyer! Don't miss this one - call Cathy or your buyer's agent, today!

4. 2026-04-27
   listed $136,500 Active 625-char remark

   Show marketing remark (625 chars)

   Handyman's special in Lakeview Schools! This cute Cape Cod home has great bones, but needs a little fixup on the inside. Hardwood floors, plastered walls with arched doorways, fireplace in living room, nice dining room and galley kitchen is ready for your personal touches. 2 large bedrooms upstairs with dormer windows and hardwood floors. Full basement is partially finished with knotty pine family room. Newer furnace and water heater. Fenced back yard - great location with sidewalks. Wonderful investment opportunity - or great for a handy first time buyer! Don't miss this one - call Cathy or your buyer's agent, today!

5. 2026-04-27
   listed $136,500 Active 625-char remark

   Show marketing remark (625 chars)

   Handyman's special in Lakeview Schools! This cute Cape Cod home has great bones, but needs a little fixup on the inside. Hardwood floors, plastered walls with arched doorways, fireplace in living room, nice dining room and galley kitchen is ready for your personal touches. 2 large bedrooms upstairs with dormer windows and hardwood floors. Full basement is partially finished with knotty pine family room. Newer furnace and water heater. Fenced back yard - great location with sidewalks. Wonderful investment opportunity - or great for a handy first time buyer! Don't miss this one - call Cathy or your buyer's agent, today!

6. 2026-04-27
   listed $136,500 Active

   Show marketing remark (625 chars)

   Handyman's special in Lakeview Schools! This cute Cape Cod home has great bones, but needs a little fixup on the inside. Hardwood floors, plastered walls with arched doorways, fireplace in living room, nice dining room and galley kitchen is ready for your personal touches. 2 large bedrooms upstairs with dormer windows and hardwood floors. Full basement is partially finished with knotty pine family room. Newer furnace and water heater. Fenced back yard - great location with sidewalks. Wonderful investment opportunity - or great for a handy first time buyer! Don't miss this one - call Cathy or your buyer's agent, today!

7. 2018-08-07
   soldstatus $82,000
8. 2018-08-07
   soldstatus $82,000
9. 2018-07-23
   soldstatus $82,000
10. 2018-07-23
    soldstatus $82,000 Sold
11. 2018-06-01
    status Pending
12. 2018-05-25
    listed $83,500
13. 2018-05-25
    listed $83,500 Active
14. 2018-05-25
    listed $83,500
15. 2006-10-31
    soldstatus $99,000
16. 2006-10-24
    soldstatus $99,000
17. 2006-10-24
    soldstatus $99,000
18. 2006-05-18
    listed $99,900
19. 2006-05-18
    listed $99,900
20. 2003-10-15
    soldstatus $91,900
21. 2003-04-02
    listed $91,900
22. 2003-04-02
    listed $91,900
23. 2000-11-09
    soldstatus $90,000
24. 2000-10-03
    listed $90,000
25. 2000-10-03
    listed $90,000
26. 1999-06-08
    listed $75,900
27. 1999-06-08
    listed $75,900

ⓘ 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: $1,603 · $134/mo
• Projected year-2 tax: $1,853 · $154/mo
• Expected delta: +$249/yr (+$21/mo · 15.6%)

ⓘ 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 ≥97°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: $16,597
• − Mortgage interest: −$7,646
• − Property taxes: −$1,603
• − Insurance: −$682
• − Repairs & maintenance: −$1,328
• − Management: −$1,328
• − Depreciation: −$3,971
• Taxable income: $39
• Est. tax owed @ 24.0%: −$9
• After-tax cash flow: $2,227/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: Lakeview School District (Calhoun)
• NCES district ID: 2620850
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $52,353
• Composite: 29.7/100
• National rank: #6455
• State rank: #291 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): 27,765
• Household income: $68,821
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 755.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 7% Asian 7% Black 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 4% Lithuanian 4% Romanian 3%
• Foreign-born: 10% · Philippines, Canada
• Languages at home: 86% English-only · Other Asian/Pacific 7% Spanish 4% Other Indo-European 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: ▼ -116.20%
• Current HPI: 206.7754
• Rent YoY: ▲ 11.13%
• 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

+79.8% since first listed

27 events — show timeline

• 2026-04-29 Pending — MiRealSource-MiMLS
• 2026-04-29 Pending — REALCOMP
• 2026-04-29 Pending — SW Michigan MLS
• 2026-04-27 Listed $136,500 REALCOMP
• 2026-04-27 Listed $136,500 SW Michigan MLS
• 2026-04-27 Listed $136,500 MiRealSource-MiMLS
• 2018-08-07 Sold (Public Records) $82,000 Public Records
• 2018-08-07 Sold (Public Records) $82,000 Public Records
• 2018-07-23 Sold (MLS) $82,000 SW Michigan MLS
• 2018-07-23 Sold (MLS) $82,000 REALCOMP
• 2018-06-01 Pending — SW Michigan MLS
• 2018-05-25 Listed $83,500 MiRealSource-MiMLS
• 2018-05-25 Listed $83,500 SW Michigan MLS
• 2018-05-25 Listed $83,500 REALCOMP
• 2006-10-31 Sold (Public Records) $99,000 Public Records
• 2006-10-24 Sold (MLS) $99,000 REALCOMP
• 2006-10-24 Sold (MLS) $99,000 SW Michigan MLS
• 2006-05-18 Listed $99,900 REALCOMP
• 2006-05-18 Listed $99,900 SW Michigan MLS
• 2003-10-15 Sold (Public Records) $91,900 Public Records
• 2003-04-02 Listed $91,900 REALCOMP
• 2003-04-02 Listed $91,900 SW Michigan MLS
• 2000-11-09 Sold (Public Records) $90,000 Public Records
• 2000-10-03 Listed $90,000 SW Michigan MLS
• 2000-10-03 Listed $90,000 REALCOMP
• 1999-06-08 Listed $75,900 SW Michigan MLS
• 1999-06-08 Listed $75,900 REALCOMP

Property tax history

-2.1%/yr

Latest (2025): $1,603 · -25.0% YoY. Source: county tax records.