955 Colfax Ave · Benton Harbor, MI 49022

$105,000

3 bd · 1.0 ba · 2,688 sqft · SingleFamily public records · 43 Days on market

Built 1930 6,149 sqft lot $39/sqft · 52% below area

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming and spacious home in Benton Harbor offers space and comfort in a great location! Just minutes from Benton Harbor High School, this 3-bedroom, 1.5-bath property boasts over 2,500 square feet of living space. Enjoy large, light-filled rooms, great flow for entertaining, and plenty of potential to make it your own. Main floor laundry. There's an 18x20 garage and 10x20 carport as well. Great opportunity to build instant sweat equity!

Key facts

• 6,149 sq ft lot
• 2 garage spots
• Built 1930

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Natural gas for water heating
• Home design: Traditional single-family residence; Built in 1930; Living area approximately 2,688
• Construction: Vinyl siding
• Exterior features: Paved road frontage; Sidewalk

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: Seven total rooms; Partial Michigan-style basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.1% vs local median 7.4% in Benton Harbor — 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 55/100 on livability (#671 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools F, crime F, amenities F.
• Benton Harbor Area Schools (urban): math 4% / reading 7% proficiency, ranked #732 of 760 in MI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 179 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Berrien 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 $29k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,850 (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 1930 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. 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?
6. 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.
7. 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.
8. 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: 2.70% ✓
• Cap rate: 24.06%
• Cash-on-cash: 63.45%
• DSCR: 3.82
• GRM: 3.1

CMA / ARV

• ARV (median comp): $217,278
• List price: $105,000
• Delta: -51.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1118 Colfax Ave	0.21mi	4/3.0 (+1)	2,512 (-6%)	10mo	$63,500	$25	58
1132 Hannah Ct	0.25mi	4/2.5 (+1)	2,536 (-6%)	19mo	$210,000	$83	52
576 Colfax Ave	0.48mi	4/2.5 (+1)	2,470 (-8%)	7mo	$295,000	$119	47
152 Lake Ave	0.72mi	2/1.5 (-1)	3,041 (+13%)	12mo	$102,500	$34	28
749 Pipestone St	0.72mi	3/2.0	2,288 (-15%)	13mo	$237,114	$104	27

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: 62.5%
• Equity multiple: 3.79×
• Total profit: $82,017
• Equity at exit: $15,656

10-year hold

• IRR: 67.0%
• Equity multiple: 7.77×
• Total profit: $198,982
• Equity at exit: $9,078

Cash invested: $29,400 (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 49022

• Active inventory: 179
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $2,832 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$88 /mo · $1,059/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$595
• Net cashflow: $1,555

Break-even live

Break-even rent $864

Max offer price $105,000

Occupancy floor 40%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1319 Lewis Ave Saint Joseph, MI	4.0	3.0	2280	$2,970	$1.30	43d	1	1.11mi
916 Broad St St Joseph, MI	3.0	1.5	1900	$2,650	$1.39	43d	1	1.22mi

Listing history 26 events

1. 2026-06-19
   days on market $105,000 Active 43 DOM
2. 2026-06-18
   days on market $105,000 Active 42 DOM
3. 2026-06-17
   days on market $105,000 Active 41 DOM
4. 2026-06-16
   days on market $105,000 Active 40 DOM
5. 2026-06-15
   days on market $105,000 Active 39 DOM
6. 2026-06-14
   days on market $105,000 Active 37 DOM
7. 2026-06-13
   days on market $105,000 Active 36 DOM
8. 2026-06-10
   days on market $105,000 Active 34 DOM
9. 2026-06-09
   days on market $105,000 Active 33 DOM
10. 2026-06-08
    days on market $105,000 Active 32 DOM
11. 2026-06-07
    days on market $105,000 Active 31 DOM
12. 2026-06-03
    days on market $105,000 Active 27 DOM
13. 2026-06-02
    days on market $105,000 Active 26 DOM
14. 2026-06-01
    days on market $105,000 Active 25 DOM
15. 2026-05-31
    days on market $105,000 Active 24 DOM
16. 2026-05-30
    days on market $105,000 Active 23 DOM
17. 2026-05-07
    historical

    Show marketing remark (447 chars)

    This charming and spacious home in Benton Harbor offers space and comfort in a great location! Just minutes from Benton Harbor High School, this 3-bedroom, 1.5-bath property boasts over 2,500 square feet of living space. Enjoy large, light-filled rooms, great flow for entertaining, and plenty of potential to make it your own. Main floor laundry. There's an 18x20 garage and 10x20 carport as well. Great opportunity to build instant sweat equity!

18. 2026-05-07
    listed $105,000 Active 447-char remark

    Show marketing remark (447 chars)

    This charming and spacious home in Benton Harbor offers space and comfort in a great location! Just minutes from Benton Harbor High School, this 3-bedroom, 1.5-bath property boasts over 2,500 square feet of living space. Enjoy large, light-filled rooms, great flow for entertaining, and plenty of potential to make it your own. Main floor laundry. There's an 18x20 garage and 10x20 carport as well. Great opportunity to build instant sweat equity!

19. 2026-05-07
    listed $105,000 Active

    Show marketing remark (447 chars)

    This charming and spacious home in Benton Harbor offers space and comfort in a great location! Just minutes from Benton Harbor High School, this 3-bedroom, 1.5-bath property boasts over 2,500 square feet of living space. Enjoy large, light-filled rooms, great flow for entertaining, and plenty of potential to make it your own. Main floor laundry. There's an 18x20 garage and 10x20 carport as well. Great opportunity to build instant sweat equity!

20. 2026-05-07
    listed $105,000 Active

    Show marketing remark (447 chars)

    This charming and spacious home in Benton Harbor offers space and comfort in a great location! Just minutes from Benton Harbor High School, this 3-bedroom, 1.5-bath property boasts over 2,500 square feet of living space. Enjoy large, light-filled rooms, great flow for entertaining, and plenty of potential to make it your own. Main floor laundry. There's an 18x20 garage and 10x20 carport as well. Great opportunity to build instant sweat equity!

21. 2026-04-08
    status Active
22. 2026-04-08
    status Active
23. 2026-02-20
    historical
24. 2026-02-20
    historical
25. 2025-11-06
    listed $105,000 Active
26. 2025-11-03
    listed $105,000 Active

ⓘ 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: $1,059 · $88/mo
• Projected year-2 tax: $1,338 · $111/mo
• Expected delta: +$279/yr (+$23/mo · 26.4%)

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,983
• − Mortgage interest: −$5,882
• − Property taxes: −$1,059
• − Insurance: −$525
• − Repairs & maintenance: −$2,719
• − Management: −$2,719
• − Depreciation: −$3,055
• Taxable income: $18,026
• Est. tax owed @ 24.0%: −$4,326
• After-tax cash flow: $14,329/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: Benton Harbor Area Schools
• NCES district ID: 2604830
• Math proficiency: 4% ▬ 0.00%
• Reading proficiency: 7% ▬ 0.00%
• Median HH income: $27,038
• Composite: 7.53/100
• National rank: #14787
• State rank: #732 of 760 in MI

Livability — Benton Harbor

• Score: 55/100
• State rank: #671
• US rank: #23724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benton Harbor, MI
• Population (ZIP): 29,796

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 50% White 37% Hispanic / Latino 7% Two or more races 6% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -309.81%
• Current HPI: 209.9723
• 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

+0.0% since first listed

10 events — show timeline

• 2026-05-07 Listed $105,000 REALCOMP
• 2026-05-07 Listed $105,000 MiRealSource-MiMLS
• 2026-05-07 Listed $105,000 SW Michigan MLS
• 2026-05-07 Listing Removed — MiRealSource-MiMLS
• 2026-04-08 Relisted — MiRealSource-MiMLS
• 2026-04-08 Relisted — REALCOMP
• 2026-02-20 Listing Removed — REALCOMP
• 2026-02-20 Listing Removed — MiRealSource-MiMLS
• 2025-11-06 Listed $105,000 REALCOMP
• 2025-11-03 Listed $105,000 MiRealSource-MiMLS

Property tax history

+3.8%/yr

Latest (2024): $1,059 · +6.4% YoY. Source: county tax records.