1223 Lake St · Kalamazoo, MI 49001

$99,900

4 bd · 1.5 ba · 1,622 sqft · SingleFamily public records · 43 Days on market

Built 1906 6,970 sqft lot Est $182k · 45% under

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Why this score? — see what drove the A- 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
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a 4 bedrooms home with 2 full bathrooms, enclosed front porch, 2 car detached garage, fenced in back yard corner lot. This home has what you are looking for.

Key facts

• Fenced in back yard
• Corner lot
• Enclosed front porch

Tags

• ENCLOSED FRONT PORCH
• FENCED IN BACK YARD
• CORNER LOT

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Public water
• Home design: Traditional single-family residence; Residential property; Built in 1906
• Construction: Vinyl siding; Full and crawlspace basement
• Exterior features: Shingle roof; Lot is approximately 0.16 acres; Public water

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Storm windows; Window screens
• Laundry & utility: Basement access (full and crawl space)

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $610 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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 rising fast (+6.4%/yr); 109 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).
• This rent runs 37% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1906 — 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: 1.75% ✓
• Cap rate: 13.63%
• Cash-on-cash: 26.19%
• DSCR: 2.17
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $181,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1113 Egleston Ave	0.32mi	4/1.5	1,611 (-1%)	1mo	$180,000	$112	83
1005 Washington Ave	0.22mi	4/1.5	1,600 (-1%)	6mo	$109,900	$69	82
1324 Jackson St	0.13mi	3/2.0 (-1)	1,630 (+0%)	8mo	$200,000	$123	80
1006 Hays Park Ave	0.48mi	4/2.0	1,613 (-1%)	1mo	$185,000	$115	74
1510 Egleston Ave	0.38mi	4/2.0	1,566 (-4%)	1mo	$200,000	$128	74
901 Clarence St	0.17mi	3/1.5 (-1)	1,494 (-8%)	3mo	$174,900	$117	72
1116 March St	0.08mi	3/2.0 (-1)	1,396 (-14%)	4mo	$69,900	$50	63
1204 March St	0.13mi	5/2.0 (+1)	1,390 (-14%)	1mo	$192,000	$138	62
719 Millard Ct	0.52mi	4/1.0	1,522 (-6%)	2mo	$165,000	$108	62
923 Stockbridge Ave	0.31mi	3/2.0 (-1)	1,461 (-10%)	3mo	$148,000	$101	60
1109 Hays Park Ave	0.44mi	4/2.0	1,760 (+8%)	7mo	$75,000	$43	58
855 Lay Blvd	0.59mi	3/1.5 (-1)	1,510 (-7%)	6mo	$160,000	$106	51

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 · 6.41% rent growth · sell at horizon

5-year hold

• IRR: 24.0%
• Equity multiple: 2.04×
• Total profit: $28,955
• Equity at exit: $14,895

10-year hold

• IRR: 34.1%
• Equity multiple: 4.68×
• Total profit: $102,832
• Equity at exit: $8,638

Cash invested: $27,972 (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 49001

• Rents YoY: 6.4%
• Active inventory: 109
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,745 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$203 /mo · $2,432/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $610

Break-even live

Break-even rent $972

Max offer price $99,900

Occupancy floor 60%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	13d	12	1.38mi

Listing history 36 events

1. 2026-06-13
   status $99,900 Pending 43 DOM
2. 2026-06-10
   days on market $99,900 Active 43 DOM
3. 2026-06-09
   days on market $99,900 Active 42 DOM
4. 2026-06-08
   days on market $99,900 Active 41 DOM
5. 2026-06-07
   days on market $99,900 Active 40 DOM
6. 2026-06-05
   days on market $99,900 Active 37 DOM
7. 2026-06-03
   days on market $99,900 Active 36 DOM
8. 2026-06-02
   remarks 245-char remark
9. 2026-06-02
   days on market $99,900 Active 35 DOM
10. 2026-06-01
    days on market $99,900 Active 34 DOM
11. 2026-05-31
    days on market $99,900 Active 33 DOM
12. 2026-05-30
    days on market $99,900 Active 32 DOM
13. 2026-05-20
    price $99,900 169-char remark

    Show marketing remark (170 chars)

    Looking for a 4 bedrooms home with 2 full bathrooms, enclosed front porch, 2 car detached garage, fenced in back yard corner lot. This home has what you are looking for.

14. 2026-05-20
    price $99,900 170-char remark

    Show marketing remark (170 chars)

    Looking for a 4 bedrooms home with 2 full bathrooms, enclosed front porch, 2 car detached garage, fenced in back yard corner lot. This home has what you are looking for.

15. 2026-05-20
    price $99,900

    Show marketing remark (170 chars)

    Looking for a 4 bedrooms home with 2 full bathrooms, enclosed front porch, 2 car detached garage, fenced in back yard corner lot. This home has what you are looking for.

16. 2026-04-27
    listed $109,900 Active 169-char remark

    Show marketing remark (170 chars)

    Looking for a 4 bedrooms home with 2 full bathrooms, enclosed front porch, 2 car detached garage, fenced in back yard corner lot. This home has what you are looking for.

17. 2026-04-27
    listed $109,900 Active 170-char remark

    Show marketing remark (170 chars)

    Looking for a 4 bedrooms home with 2 full bathrooms, enclosed front porch, 2 car detached garage, fenced in back yard corner lot. This home has what you are looking for.

18. 2026-04-27
    listed $109,900 Active

    Show marketing remark (170 chars)

    Looking for a 4 bedrooms home with 2 full bathrooms, enclosed front porch, 2 car detached garage, fenced in back yard corner lot. This home has what you are looking for.

19. 2022-12-16
    soldstatus $92,000 Sold
20. 2022-12-16
    soldstatus $92,000 Sold
21. 2022-12-16
    soldstatus $92,000 Closed
22. 2022-10-26
    status Pending
23. 2022-10-26
    status Pending
24. 2022-10-26
    status Pending
25. 2022-10-12
    price $90,000
26. 2022-10-11
    price $90,000
27. 2022-10-11
    status Active
28. 2022-10-11
    status Active
29. 2022-10-11
    price $90,000
30. 2022-10-11
    status Active
31. 2022-10-03
    status Pending
32. 2022-10-03
    status Pending
33. 2022-10-02
    historical
34. 2022-09-23
    listed $100,000 Active
35. 2022-09-23
    listed $100,000 Active
36. 2022-09-23
    listed $100,000

ⓘ 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: $2,432 · $203/mo
• Projected year-2 tax: $2,432 · $203/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 3/10 Moderate 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: $20,941
• − Mortgage interest: −$5,596
• − Property taxes: −$2,432
• − Insurance: −$500
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$2,906
• Taxable income: $6,156
• Est. tax owed @ 24.0%: −$1,478
• After-tax cash flow: $5,847/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): 20,946
• Household income: $56,432
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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 0.59)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 15% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 6% Iranian 4% Slovak 3%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 11% Arabic 2% Other Indo-European 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: ▼ -264.90%
• Current HPI: 206.9355
• Rent YoY: ▲ 6.41%
• 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

-0.1% since first listed

24 events — show timeline

• 2026-05-20 Price Changed $99,900 MiRealSource-MiMLS
• 2026-05-20 Price Changed $99,900 REALCOMP
• 2026-05-20 Price Changed $99,900 SW Michigan MLS
• 2026-04-27 Listed $109,900 SW Michigan MLS
• 2026-04-27 Listed $109,900 REALCOMP
• 2026-04-27 Listed $109,900 MiRealSource-MiMLS
• 2022-12-16 Sold (MLS) $92,000 MiRealSource-MiMLS
• 2022-12-16 Sold (MLS) $92,000 SW Michigan MLS
• 2022-12-16 Sold (MLS) $92,000 REALCOMP
• 2022-10-26 Pending — MiRealSource-MiMLS
• 2022-10-26 Pending — REALCOMP
• 2022-10-26 Pending — SW Michigan MLS
• 2022-10-12 Price Changed $90,000 MiRealSource-MiMLS
• 2022-10-11 Price Changed $90,000 REALCOMP
• 2022-10-11 Relisted — MiRealSource-MiMLS
• 2022-10-11 Relisted — REALCOMP
• 2022-10-11 Price Changed $90,000 SW Michigan MLS
• 2022-10-11 Relisted — SW Michigan MLS
• 2022-10-03 Pending — REALCOMP
• 2022-10-03 Pending — SW Michigan MLS
• 2022-10-02 Listing Removed — MiRealSource-MiMLS
• 2022-09-23 Listed $100,000 MiRealSource-MiMLS
• 2022-09-23 Listed $100,000 SW Michigan MLS
• 2022-09-23 Listed $100,000 REALCOMP

Property tax history

+14.2%/yr

Latest (2025): $2,432 · +3.0% YoY. Source: county tax records.