2912 Courtlandt Ave · Kalamazoo, MI 49004

$55,000

2 bd · 1.0 ba · 625 sqft · SingleFamily public records · 38 Days on market

Built 1950 0.44 ac lot ↓ 15% since listing

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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
• Schools +4.7/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

Key facts

• Half-acre lot
• Spacious lot
• Outdoor space

Tags

• HALF-ACRE LOT
• SPACIOUS LOT
• OUTDOOR SPACE

Property features AI

Exterior

• Utilities: Public water
• Home design: Single-family residence; Residential property; Built in 1950
• Construction: Vinyl siding; 625 square feet living area
• Exterior features: Approximately 0.44-acre lot; Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Heating present
• Interior features: Four total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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: 99 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent is only 17% of the median local income ($73k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 + 3.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1950 — 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: 1.89% ✓
• Cap rate: 15.90%
• Cash-on-cash: 34.33%
• DSCR: 2.53
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $149,375
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2912 Courtlandt Ave	0.00mi	2/1.0	625 (0%)	0mo	$47,500	$76	100
3013 Virginia Ave	0.16mi	2/1.0	712 (+14%)	13mo	$170,000	$239	58
2229 Oxford St	0.58mi	2/1.0	704 (+13%)	2mo	$182,500	$259	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.8%
• Equity multiple: 2.24×
• Total profit: $19,160
• Equity at exit: $8,201

10-year hold

• IRR: 37.1%
• Equity multiple: 4.43×
• Total profit: $52,876
• Equity at exit: $4,755

Cash invested: $15,400 (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 49004

• Active inventory: 99
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,039 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $441

Break-even live

Break-even rent $481

Max offer price $55,000

Occupancy floor 53%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1928 Colgrove Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	912	$1,182	$1.30	13d	13	0.67mi
103 Devon Ave Unit c5 Parchment, MI	2.0	1.0	558	$945	$1.69	44d	1	0.69mi
450 Haymac Dr Parchment, MI	1.0–3.0	1.0–2.0	867	$1,147	$1.32	13d	1	0.80mi
1700 E G Ave Unit 1B Kalamazoo, MI	1.0	1.0	690	$855	$1.24	21d	1	0.87mi
1536 Henson Ave Unit 4 Kalamazoo, MI	2.0	1.0	575	$995	$1.73	21d	1	0.91mi
2024 Sunnyside Dr Kalamazoo, MI	1.0–2.0	1.0	740	$1,000	$1.35	13d	1	1.02mi
1809 Humphrey St Unit 12 Kalamazoo, MI	1.0	1.0	634	$805	$1.27	13d	1	1.14mi
3025 E Main St Unit 5 Kalamazoo, MI	1.0	1.0	450	$695	$1.54	13d	1	1.38mi

Listing history 20 events

1. 2026-05-31
   status $55,000 Pending 38 DOM
2. 2026-05-30
   days on market $55,000 Active 38 DOM
3. 2026-05-19
   price $55,000 445-char remark

   Show marketing remark (445 chars)

   Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

4. 2026-05-19
   price $55,000 445-char remark

   Show marketing remark (445 chars)

   Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

5. 2026-05-19
   price $55,000

   Show marketing remark (445 chars)

   Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

6. 2026-05-12
   price $57,900 445-char remark

   Show marketing remark (445 chars)

   Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

7. 2026-05-11
   price $57,900 445-char remark

   Show marketing remark (445 chars)

   Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

8. 2026-05-11
   price $57,900

   Show marketing remark (445 chars)

   Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

9. 2026-04-27
   status Active 445-char remark

   Show marketing remark (445 chars)

   Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

10. 2026-04-27
    status Active 445-char remark

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

11. 2026-04-27
    status Active

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

12. 2026-04-25
    status Pending 445-char remark

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

13. 2026-04-25
    status Pending 445-char remark

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

14. 2026-04-25
    status Pending

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

15. 2026-04-25
    price $59,900 445-char remark

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

16. 2026-04-24
    price $59,900 445-char remark

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

17. 2026-04-24
    price $59,900

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

18. 2026-04-20
    listed $64,500 Active 445-char remark

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

19. 2026-04-20
    listed $64,500 Active 445-char remark

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

20. 2026-04-20
    listed $64,500 Active

    Show marketing remark (445 chars)

    Opportunity awaits with this 2-bedroom, 1-bath home on just under a half-acre lot! Offering 625 sq ft, this property needs significant work but presents a great chance to renovate and customize to your liking. The spacious lot provides room to expand, garden, or enjoy outdoor space. Whether you're an investor or a buyer ready for a project, this home is full of potential. * The home also has a new forced air heating unit installed in 2025! *

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥99°F today · 15 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: $12,465
• − Mortgage interest: −$3,081
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$997
• − Management: −$997
• − Depreciation: −$1,600
• Taxable income: $4,690
• Est. tax owed @ 24.0%: −$1,126
• After-tax cash flow: $4,161/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): 17,815
• Household income: $73,453
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 330.0

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: Predominantly White (79%)
• Race & ethnicity: White 79% Two or more races 9% Black 8% Hispanic / Latino 5% Asian 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 10% Romanian 5% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Spanish 1% Tagalog/Filipino 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: ▼ -247.79%
• Current HPI: 202.6197
• Rent YoY: —
• 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

-14.7% since first listed

18 events — show timeline

• 2026-05-19 Price Changed $55,000 MiRealSource-MiMLS
• 2026-05-19 Price Changed $55,000 REALCOMP
• 2026-05-19 Price Changed $55,000 SW Michigan MLS
• 2026-05-12 Price Changed $57,900 MiRealSource-MiMLS
• 2026-05-11 Price Changed $57,900 REALCOMP
• 2026-05-11 Price Changed $57,900 SW Michigan MLS
• 2026-04-27 Relisted — MiRealSource-MiMLS
• 2026-04-27 Relisted — REALCOMP
• 2026-04-27 Relisted — SW Michigan MLS
• 2026-04-25 Pending — MiRealSource-MiMLS
• 2026-04-25 Pending — REALCOMP
• 2026-04-25 Pending — SW Michigan MLS
• 2026-04-25 Price Changed $59,900 MiRealSource-MiMLS
• 2026-04-24 Price Changed $59,900 REALCOMP
• 2026-04-24 Price Changed $59,900 SW Michigan MLS
• 2026-04-20 Listed $64,500 SW Michigan MLS
• 2026-04-20 Listed $64,500 REALCOMP
• 2026-04-20 Listed $64,500 MiRealSource-MiMLS

Property tax history

+25.1%/yr

Latest (2025): $3,595 · +70.2% YoY. Source: county tax records.