446 N 24th St N · Springfield, MI 49037

$149,900

2 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 170 Days on market

Built 1925 8,233 sqft lot $104/sqft · at area comps Est $173k · 13% 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 +16.5/30.0
• ARV discount +13.5/15.0
• DSCR +5.1/10.0
• Rent growth +5.0/5.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

Key facts

• 8,233 sq ft lot
• 2 garage spots
• Built 1925

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $89 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (14.1% below list).
• Recommended offer: $129k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 2.1% in Springfield — 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 65/100 on livability (#472 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools F, amenities 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: Rents rising fast (+11.8%/yr); 236 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• This rent runs 36% of the median local income ($43k/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 $1k 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.

Negotiation context

• It's been on market 170 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 12y 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 $22k; list at $150k implies a 572% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,705 (14.1% below list)

Questions for the listing agent

1. It's been on market 170 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 0.86% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.53%
• DSCR: 1.11
• GRM: 9.7

CMA / ARV

• ARV (median comp): $173,110
• List price: $149,900
• Delta: -13.41%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
41 Avenue B	0.49mi	2/1.0	1,362 (-5%)	2mo	$147,000	$108	66
429 N 30th St	0.42mi	3/2.0 (+1)	1,488 (+3%)	17mo	$305,000	$205	51
338 N 28th St	0.41mi	3/1.0 (+1)	1,618 (+12%)	22mo	$176,000	$109	37
1104 Frisbie Blvd	0.67mi	3/1.0 (+1)	1,306 (-9%)	14mo	$147,000	$113	36
634 Upton Ave	0.31mi	3/2.0 (+1)	1,240 (-14%)	22mo	$82,000	$66	35

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: -7.3%
• Equity multiple: 0.72×
• Total profit: $-11,892
• Equity at exit: $22,351

10-year hold

• IRR: 7.3%
• Equity multiple: 1.66×
• Total profit: $27,679
• Equity at exit: $12,961

Cash invested: $41,972 (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 49037

• Home prices YoY: -29.0%
• Rents YoY: 11.8%
• Active inventory: 236
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,287 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$80 /mo · $955/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $89

Break-even live

Break-even rent $1,175

Max offer price $149,900

Occupancy floor 88%

Sensitivity live

Price	-10% $173	-5% $131	+0% $89	+5% $46	+10% $4
Rent	-10% $-13	-5% $38	+0% $89	+5% $139	+10% $190
Rate	-1.0pp $164	-0.5pp $127	base $89	+0.5pp $50	+1.0pp $10

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.04mi
420 Arbor Pointe Dr Battle Creek, MI	1.0–2.0	1.0	820	$1,140	$1.39	14d	6	0.73mi

Listing history 22 events

1. 2026-05-06
   status Pending 212-char remark

   Show marketing remark (210 chars)

   NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

2. 2026-05-06
   status Pending 210-char remark

   Show marketing remark (210 chars)

   NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

3. 2026-05-06
   status Pending

   Show marketing remark (210 chars)

   NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

4. 2026-03-07
   price $149,900 210-char remark

   Show marketing remark (210 chars)

   NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

5. 2026-03-06
   status Active 212-char remark

   Show marketing remark (210 chars)

   NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

6. 2026-03-06
   price $149,900 212-char remark

   Show marketing remark (210 chars)

   NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

7. 2026-03-06
   status Active 210-char remark

   Show marketing remark (210 chars)

   NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

8. 2026-03-06
   status Active

   Show marketing remark (210 chars)

   NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

9. 2026-03-06
   price $149,900

   Show marketing remark (210 chars)

   NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

10. 2026-01-30
    status Pending 212-char remark

    Show marketing remark (210 chars)

    NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

11. 2026-01-30
    status Pending 210-char remark

    Show marketing remark (210 chars)

    NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

12. 2026-01-30
    status Pending

    Show marketing remark (210 chars)

    NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

13. 2025-11-18
    price $145,000 210-char remark

    Show marketing remark (212 chars)

    NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

14. 2025-11-18
    price $145,000 212-char remark

    Show marketing remark (212 chars)

    NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

15. 2025-11-18
    price $145,000

    Show marketing remark (212 chars)

    NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

16. 2025-10-13
    listed $150,000 Active 212-char remark

    Show marketing remark (210 chars)

    NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

17. 2025-10-13
    listed $150,000 Active 210-char remark

    Show marketing remark (210 chars)

    NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

18. 2025-10-13
    listed $150,000 Active

    Show marketing remark (210 chars)

    NEW FURNAC! JUST INSTALLED! PLUMBING UPDATES! The most living space available for 150K!5 bedrooms - possibly more! Attached garage and all set within a quiet peaceful nationhood. easy to see - quick possession!

19. 2014-08-14
    soldstatus $22,300
20. 2014-08-14
    soldstatus $22,300
21. 2014-07-18
    listed $28,999
22. 2014-07-18
    listed $28,999

ⓘ 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: $955 · $80/mo
• Projected year-2 tax: $1,632 · $136/mo
• Expected delta: +$677/yr (+$56/mo · 70.8%)

ⓘ 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 ≥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: $15,445
• − Mortgage interest: −$8,397
• − Property taxes: −$955
• − Insurance: −$750
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$4,361
• Taxable loss: −$1,489
• Est. tax savings @ 24.0%: +$357
• After-tax cash flow: $1,421/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 — Springfield

• Score: 65/100
• State rank: #472
• US rank: #13384

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, MI
• County: Calhoun County · 91,590 people
• Metro: Battle Creek, MI
• Population (ZIP): 20,550
• Household income: $42,690
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 717.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Black 23% Two or more races 11% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 2% 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: ▼ -111.62%
• Current HPI: 273.2446
• Rent YoY: ▲ 11.76%
• 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

+416.9% since first listed

22 events — show timeline

• 2026-05-06 Pending — REALCOMP
• 2026-05-06 Pending — MiRealSource-MiMLS
• 2026-05-06 Pending — SW Michigan MLS
• 2026-03-07 Price Changed $149,900 MiRealSource-MiMLS
• 2026-03-06 Relisted — REALCOMP
• 2026-03-06 Price Changed $149,900 REALCOMP
• 2026-03-06 Relisted — MiRealSource-MiMLS
• 2026-03-06 Relisted — SW Michigan MLS
• 2026-03-06 Price Changed $149,900 SW Michigan MLS
• 2026-01-30 Pending — REALCOMP
• 2026-01-30 Pending — MiRealSource-MiMLS
• 2026-01-30 Pending — SW Michigan MLS
• 2025-11-18 Price Changed $145,000 MiRealSource-MiMLS
• 2025-11-18 Price Changed $145,000 REALCOMP
• 2025-11-18 Price Changed $145,000 SW Michigan MLS
• 2025-10-13 Listed $150,000 SW Michigan MLS
• 2025-10-13 Listed $150,000 MiRealSource-MiMLS
• 2025-10-13 Listed $150,000 REALCOMP
• 2014-08-14 Sold (MLS) $22,300 REALCOMP
• 2014-08-14 Sold (MLS) $22,300 SW Michigan MLS
• 2014-07-18 Listed $28,999 REALCOMP
• 2014-07-18 Listed $28,999 SW Michigan MLS

Property tax history

-0.6%/yr

Latest (2025): $955 · -24.6% YoY. Source: county tax records.