1823 W Michigan Ave W · Battle Creek, MI 49037

$140,000

4 bd · 2.0 ba · 1,620 sqft · MultiFamily public records · 6 Days on market

Built 1940 6,098 sqft lot ↓ 18% 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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great opportunity to own a duplex in Battle Creek. This home is a top and bottom split rental. Both units have 1 bedroom, living room, kitchen, and full bathroom. Main floor renter has been here for 3 years! Upstairs unit is vacant and waiting for you to find a new tenant. Outside has a fenced in backyard with a deck off from the 2 car detached garage. Call Jeffrey A Penick at 269-420-4756 today for a private tour!

Key facts

• Fenced in backyard
• Deck
• Detached garage

Tags

• FENCED IN BACKYARD
• DECK
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $140k.

Deal economics

• At list price, monthly cash flow is $508 ($6k/yr) — positive. Per door: $254/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 10.7% vs local median 5.2% in Battle Creek — 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 73/100 on livability (#198 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities C-, crime 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; 1 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).
• At $1,768/mo this rent would consume 50% of the median local household income ($43k/yr) (locally 717% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $39k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 10.65%
• Cash-on-cash: 15.57%
• DSCR: 1.69
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 11.6%
• Equity multiple: 1.49×
• Total profit: $19,020
• Equity at exit: $20,874

10-year hold

• IRR: 24.1%
• Equity multiple: 3.57×
• Total profit: $100,700
• Equity at exit: $12,105

Cash invested: $39,200 (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: 13.2×

Monthly cashflow live

• Estimated rent: $1,768 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$96 /mo · $1,149/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $508

Break-even live

Break-even rent $1,124

Max offer price $140,000

Occupancy floor 66%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,768
Total (2 units)			$1,768

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1767 Michigan Ave Unit 1 Battle Creek, MI	3.0	2.0	1758	$2,000	$1.14	20d	1	0.15mi

Listing history 7 events

1. 2026-04-22
   status Pending

   Show marketing remark (418 chars)

   Great opportunity to own a duplex in Battle Creek. This home is a top and bottom split rental. Both units have 1 bedroom, living room, kitchen, and full bathroom. Main floor renter has been here for 3 years! Upstairs unit is vacant and waiting for you to find a new tenant. Outside has a fenced in backyard with a deck off from the 2 car detached garage. Call Jeffrey A Penick at 269-420-4756 today for a private tour!

2. 2026-04-22
   status Pending 418-char remark

   Show marketing remark (418 chars)

   Great opportunity to own a duplex in Battle Creek. This home is a top and bottom split rental. Both units have 1 bedroom, living room, kitchen, and full bathroom. Main floor renter has been here for 3 years! Upstairs unit is vacant and waiting for you to find a new tenant. Outside has a fenced in backyard with a deck off from the 2 car detached garage. Call Jeffrey A Penick at 269-420-4756 today for a private tour!

3. 2026-04-16
   listed $140,000 Active

   Show marketing remark (418 chars)

   Great opportunity to own a duplex in Battle Creek. This home is a top and bottom split rental. Both units have 1 bedroom, living room, kitchen, and full bathroom. Main floor renter has been here for 3 years! Upstairs unit is vacant and waiting for you to find a new tenant. Outside has a fenced in backyard with a deck off from the 2 car detached garage. Call Jeffrey A Penick at 269-420-4756 today for a private tour!

4. 2026-04-16
   listed $140,000 Active 418-char remark

   Show marketing remark (418 chars)

   Great opportunity to own a duplex in Battle Creek. This home is a top and bottom split rental. Both units have 1 bedroom, living room, kitchen, and full bathroom. Main floor renter has been here for 3 years! Upstairs unit is vacant and waiting for you to find a new tenant. Outside has a fenced in backyard with a deck off from the 2 car detached garage. Call Jeffrey A Penick at 269-420-4756 today for a private tour!

5. 2025-10-30
   historical
6. 2025-09-19
   listed $169,900 Active
7. 2025-09-19
   listed $169,900 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: $1,149 · $96/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$504/yr (+$42/mo · 43.8%)

ⓘ 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 3/10 Moderate 7 d/yr ≥97°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: $21,216
• − Mortgage interest: −$7,842
• − Property taxes: −$1,149
• − Insurance: −$700
• − Repairs & maintenance: −$1,697
• − Management: −$1,697
• − Depreciation: −$4,073
• Taxable income: $4,058
• Est. tax owed @ 24.0%: −$974
• After-tax cash flow: $5,128/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 — Battle Creek

• Score: 73/100
• State rank: #198
• US rank: #5031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Battle Creek, MI
• County: Calhoun County · 91,590 people
• City population: 91,590
• 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

-17.6% since first listed

7 events — show timeline

• 2026-04-22 Pending — REALCOMP
• 2026-04-22 Pending — MiRealSource-MiMLS
• 2026-04-16 Listed $140,000 REALCOMP
• 2026-04-16 Listed $140,000 MiRealSource-MiMLS
• 2025-10-30 Listing Removed — MiRealSource-MiMLS
• 2025-09-19 Listed $169,900 REALCOMP
• 2025-09-19 Listed $169,900 MiRealSource-MiMLS

Property tax history

-3.1%/yr

Latest (2025): $1,149 · -31.2% YoY. Source: county tax records.