3303 Madison St · Kalamazoo, MI 49008

$119,900

3 bd · 1.0 ba · 696 sqft · SingleFamily public records · 39 Days on market

Built 1922 6,160 sqft lot Est $168k · 29% under

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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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• 1% rule +7.2/10.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three bedroom fixer upper in Oakwood neighborhood. One bedroom on the main level and two upstairs. Kitchen with eating area and stove and refrigerator. Two car detached garage. Large back yard is partially fenced. Home is being sold as is.

Key facts

• Oakwood neighborhood
• Eating area
• Partially fenced

Tags

• OAKWOOD NEIGHBORHOOD
• EATING AREA
• DETACHED GARAGE
• LARGE BACK YARD
• PARTIALLY FENCED

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water
• Home design: Traditional single-family residence; Built in 1922; Living area approximately 924
• Construction: Shingle siding; Composition roof; Partial basement
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Eat-in kitchen; Fireplace; 5 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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 (+2.4%/yr); 116 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 6 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 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1922 — 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: 1.22% ✓
• Cap rate: 9.58%
• Cash-on-cash: 11.75%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $168,432
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3511 Madison St	0.13mi	2/1.0 (-1)	672 (-3%)	12mo	$168,000	$250	73
3415 Hoover St	0.08mi	3/1.0	781 (+12%)	9mo	$185,000	$237	68
2916 Lorraine Ave	0.31mi	2/1.0 (-1)	720 (+3%)	9mo	$200,000	$278	67
3740 Madison St	0.35mi	3/1.0	738 (+6%)	13mo	$180,000	$244	63
3416 Kent Ave	0.37mi	2/1.0 (-1)	704 (+1%)	22mo	$205,000	$291	58
3515 Adams St	0.15mi	2/1.0 (-1)	755 (+8%)	20mo	$107,300	$142	58
2720 Amherst Ave	0.10mi	2/1.0 (-1)	768 (+10%)	19mo	$154,000	$201	57
3430 Lowden St	0.17mi	2/1.0 (-1)	790 (+14%)	10mo	$154,000	$195	57
3826 Oakland Dr	0.59mi	2/1.0 (-1)	744 (+7%)	1mo	$179,900	$242	55
2218 Hazel Ave	0.47mi	2/1.0 (-1)	720 (+3%)	19mo	$154,900	$215	52

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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $673
• Equity at exit: $17,877

10-year hold

• IRR: 9.6%
• Equity multiple: 1.72×
• Total profit: $24,139
• Equity at exit: $10,367

Cash invested: $33,572 (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 49008

• Rents YoY: 2.4%
• Active inventory: 116
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,466 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$150 /mo · $1,805/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $329

Break-even live

Break-even rent $1,050

Max offer price $119,900

Occupancy floor 73%

Sensitivity live

Price	-10% $397	-5% $363	+0% $329	+5% $295	+10% $261
Rent	-10% $213	-5% $271	+0% $329	+5% $387	+10% $445
Rate	-1.0pp $389	-0.5pp $359	base $329	+0.5pp $298	+1.0pp $266

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2321 Hazel Ave Kalamazoo, MI	2.0	1.0	698	$1,225	$1.76	21d	1	0.42mi
3400 Woodstone Dr Kalamazoo, MI	2.0	1.0–2.0	806	$1,695	$2.10	14d	1	0.64mi
3614 Stadium Dr Kalamazoo, MI	1.0–3.0	1.0–2.0	928	$1,550	$1.67	14d	1	1.12mi

Listing history 18 events

1. 2026-06-09
   status $119,900 Pending 39 DOM
2. 2026-06-08
   days on market $119,900 Active 39 DOM
3. 2026-06-07
   days on market $119,900 Active 38 DOM
4. 2026-06-05
   days on market $119,900 Active 35 DOM
5. 2026-06-03
   pricedays on market $119,900 Active 34 DOM
6. 2026-06-02
   days on market $124,900 Active 33 DOM
7. 2026-06-01
   days on market $124,900 Active 32 DOM
8. 2026-05-31
   days on market $124,900 Active 31 DOM
9. 2026-05-30
   days on market $124,900 Active 30 DOM
10. 2026-05-08
    status Active 239-char remark

    Show marketing remark (239 chars)

    Three bedroom fixer upper in Oakwood neighborhood. One bedroom on the main level and two upstairs. Kitchen with eating area and stove and refrigerator. Two car detached garage. Large back yard is partially fenced. Home is being sold as is.

11. 2026-05-08
    status Active 239-char remark

    Show marketing remark (239 chars)

    Three bedroom fixer upper in Oakwood neighborhood. One bedroom on the main level and two upstairs. Kitchen with eating area and stove and refrigerator. Two car detached garage. Large back yard is partially fenced. Home is being sold as is.

12. 2026-05-08
    status Active

    Show marketing remark (239 chars)

    Three bedroom fixer upper in Oakwood neighborhood. One bedroom on the main level and two upstairs. Kitchen with eating area and stove and refrigerator. Two car detached garage. Large back yard is partially fenced. Home is being sold as is.

13. 2026-04-29
    status Pending 239-char remark

    Show marketing remark (239 chars)

    Three bedroom fixer upper in Oakwood neighborhood. One bedroom on the main level and two upstairs. Kitchen with eating area and stove and refrigerator. Two car detached garage. Large back yard is partially fenced. Home is being sold as is.

14. 2026-04-29
    status Pending 239-char remark

    Show marketing remark (239 chars)

    Three bedroom fixer upper in Oakwood neighborhood. One bedroom on the main level and two upstairs. Kitchen with eating area and stove and refrigerator. Two car detached garage. Large back yard is partially fenced. Home is being sold as is.

15. 2026-04-29
    status Pending

    Show marketing remark (239 chars)

    Three bedroom fixer upper in Oakwood neighborhood. One bedroom on the main level and two upstairs. Kitchen with eating area and stove and refrigerator. Two car detached garage. Large back yard is partially fenced. Home is being sold as is.

16. 2026-04-21
    listed $124,900 Active 239-char remark

    Show marketing remark (239 chars)

    Three bedroom fixer upper in Oakwood neighborhood. One bedroom on the main level and two upstairs. Kitchen with eating area and stove and refrigerator. Two car detached garage. Large back yard is partially fenced. Home is being sold as is.

17. 2026-04-21
    listed $124,900 Active 239-char remark

    Show marketing remark (239 chars)

    Three bedroom fixer upper in Oakwood neighborhood. One bedroom on the main level and two upstairs. Kitchen with eating area and stove and refrigerator. Two car detached garage. Large back yard is partially fenced. Home is being sold as is.

18. 2026-04-21
    listed $124,900 Active

    Show marketing remark (239 chars)

    Three bedroom fixer upper in Oakwood neighborhood. One bedroom on the main level and two upstairs. Kitchen with eating area and stove and refrigerator. Two car detached garage. Large back yard is partially fenced. Home is being sold as is.

ⓘ 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: $1,805 · $150/mo
• Projected year-2 tax: $1,826 · $152/mo
• Expected delta: +$21/yr (+$2/mo · 1.1%)

ⓘ 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 6 d/yr ≥98°F today · 14 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: $17,590
• − Mortgage interest: −$6,716
• − Property taxes: −$1,805
• − Insurance: −$600
• − Repairs & maintenance: −$1,407
• − Management: −$1,407
• − Depreciation: −$3,488
• Taxable income: $2,167
• Est. tax owed @ 24.0%: −$520
• After-tax cash flow: $3,426/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): 16,137
• Household income: $74,943
• Rent vs Own: 33.8% rent · 66.2% own
• Severe rent burden: 513.0

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 (75%)
• Race & ethnicity: White 75% Black 12% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Iranian 5% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -170.52%
• Current HPI: 230.6876
• Rent YoY: ▲ 2.41%
• 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

+0.0% since first listed

9 events — show timeline

• 2026-05-08 Relisted — MiRealSource-MiMLS
• 2026-05-08 Relisted — REALCOMP
• 2026-05-08 Relisted — SW Michigan MLS
• 2026-04-29 Pending — MiRealSource-MiMLS
• 2026-04-29 Pending — REALCOMP
• 2026-04-29 Pending — SW Michigan MLS
• 2026-04-21 Listed $124,900 SW Michigan MLS
• 2026-04-21 Listed $124,900 REALCOMP
• 2026-04-21 Listed $124,900 MiRealSource-MiMLS

Property tax history

+3.7%/yr

Latest (2025): $1,805 · +3.0% YoY. Source: county tax records.