1006 Hays Park Ave · Kalamazoo, MI 49001

$185,000

4 bd · 1.0 ba · 1,613 sqft · SingleFamily public records · 118 Days on market

Built 1904 3,920 sqft lot Est $185k · at est.

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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 +19.3/30.0
• ARV discount +7.6/15.0
• DSCR +6.1/10.0
• Schools +4.7/10.0
• 1% rule +4.4/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully updated, move-in-ready home. Featuring modern finishes throughout, this 5-bedroom, 2-bathroom property offers over 1,600 finished square feet of living space. Key updates include a new roof, new vinyl windows, LVT flooring, a brand-new kitchen, and two modernized full bathrooms. The main floor features a spacious living room, a formal dining room, and an eat-in kitchen. Upstairs, you will find four bedrooms and a second full bath. The entire home has been freshly painted and is meticulously maintained. The property includes convenient parking for three vehicles and is situated in a well-established neighborhood, just around the corner from the Farmers Market and local shopping.

Key facts

• New kitchen
• Lpv flooring
• New vinyl windows

Tags

• NEW ROOF
• NEW VINYL WINDOWS
• LPV FLOORING
• NEW KITCHEN
• MODERN FINISHES
• WELL ESTABLISHED NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $202 ($2k/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 $174k (5.7% below list).
• Recommended offer: $168k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 fast (+6.4%/yr); 109 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 37% of the median local income ($56k/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 $6k 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 118 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 40y 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 $7k; list at $185k implies a 2543% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1904 — 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. 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: 0.94% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.69%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $185,495
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1006 Hays Park Ave	0.00mi	4/2.0	1,613 (0%)	1mo	$185,000	$115	96
1113 Egleston Ave	0.16mi	4/1.5	1,611 (-0%)	1mo	$180,000	$112	89
1005 Washington Ave	0.30mi	4/1.5	1,600 (-1%)	6mo	$109,900	$69	78
1510 Egleston Ave	0.33mi	4/2.0	1,566 (-3%)	1mo	$200,000	$128	75
1109 Hays Park Ave	0.07mi	4/2.0	1,760 (+9%)	7mo	$75,000	$43	72
855 Lay Blvd	0.13mi	3/1.5 (-1)	1,510 (-6%)	6mo	$160,000	$106	72
923 Stockbridge Ave	0.21mi	3/2.0 (-1)	1,461 (-9%)	3mo	$148,000	$101	63
1324 Jackson St	0.60mi	3/2.0 (-1)	1,630 (+1%)	8mo	$200,000	$123	54
1522 Miller	0.65mi	3/1.0 (-1)	1,542 (-4%)	5mo	$209,000	$136	53
901 Clarence St	0.63mi	3/1.5 (-1)	1,494 (-7%)	3mo	$174,900	$117	49
1204 March St	0.40mi	5/2.0 (+1)	1,390 (-14%)	1mo	$192,000	$138	49
1116 March St	0.45mi	3/2.0 (-1)	1,396 (-14%)	4mo	$69,900	$50	44

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 · 6.41% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-10,942
• Equity at exit: $27,584

10-year hold

• IRR: 7.6%
• Equity multiple: 1.66×
• Total profit: $34,162
• Equity at exit: $15,995

Cash invested: $51,800 (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 49001

• Rents YoY: 6.4%
• Active inventory: 109
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,745 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$129 /mo · $1,546/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $202

Break-even live

Break-even rent $1,489

Max offer price $185,000

Occupancy floor 83%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	13d	12	1.36mi

Listing history 21 events

1. 2026-04-27
   status Pending 703-char remark

   Show marketing remark (703 chars)

   This beautifully updated, move-in-ready home. Featuring modern finishes throughout, this 5-bedroom, 2-bathroom property offers over 1,600 finished square feet of living space. Key updates include a new roof, new vinyl windows, LVT flooring, a brand-new kitchen, and two modernized full bathrooms. The main floor features a spacious living room, a formal dining room, and an eat-in kitchen. Upstairs, you will find four bedrooms and a second full bath. The entire home has been freshly painted and is meticulously maintained. The property includes convenient parking for three vehicles and is situated in a well-established neighborhood, just around the corner from the Farmers Market and local shopping.

2. 2026-04-27
   status Pending 703-char remark

   Show marketing remark (703 chars)

   This beautifully updated, move-in-ready home. Featuring modern finishes throughout, this 5-bedroom, 2-bathroom property offers over 1,600 finished square feet of living space. Key updates include a new roof, new vinyl windows, LVT flooring, a brand-new kitchen, and two modernized full bathrooms. The main floor features a spacious living room, a formal dining room, and an eat-in kitchen. Upstairs, you will find four bedrooms and a second full bath. The entire home has been freshly painted and is meticulously maintained. The property includes convenient parking for three vehicles and is situated in a well-established neighborhood, just around the corner from the Farmers Market and local shopping.

3. 2026-04-27
   status Pending

   Show marketing remark (703 chars)

   This beautifully updated, move-in-ready home. Featuring modern finishes throughout, this 5-bedroom, 2-bathroom property offers over 1,600 finished square feet of living space. Key updates include a new roof, new vinyl windows, LVT flooring, a brand-new kitchen, and two modernized full bathrooms. The main floor features a spacious living room, a formal dining room, and an eat-in kitchen. Upstairs, you will find four bedrooms and a second full bath. The entire home has been freshly painted and is meticulously maintained. The property includes convenient parking for three vehicles and is situated in a well-established neighborhood, just around the corner from the Farmers Market and local shopping.

4. 2026-04-15
   price $185,000 703-char remark

   Show marketing remark (703 chars)

   This beautifully updated, move-in-ready home. Featuring modern finishes throughout, this 5-bedroom, 2-bathroom property offers over 1,600 finished square feet of living space. Key updates include a new roof, new vinyl windows, LVT flooring, a brand-new kitchen, and two modernized full bathrooms. The main floor features a spacious living room, a formal dining room, and an eat-in kitchen. Upstairs, you will find four bedrooms and a second full bath. The entire home has been freshly painted and is meticulously maintained. The property includes convenient parking for three vehicles and is situated in a well-established neighborhood, just around the corner from the Farmers Market and local shopping.

5. 2026-04-14
   price $185,000 703-char remark

   Show marketing remark (703 chars)

   This beautifully updated, move-in-ready home. Featuring modern finishes throughout, this 5-bedroom, 2-bathroom property offers over 1,600 finished square feet of living space. Key updates include a new roof, new vinyl windows, LVT flooring, a brand-new kitchen, and two modernized full bathrooms. The main floor features a spacious living room, a formal dining room, and an eat-in kitchen. Upstairs, you will find four bedrooms and a second full bath. The entire home has been freshly painted and is meticulously maintained. The property includes convenient parking for three vehicles and is situated in a well-established neighborhood, just around the corner from the Farmers Market and local shopping.

6. 2026-04-14
   price $185,000

   Show marketing remark (703 chars)

   This beautifully updated, move-in-ready home. Featuring modern finishes throughout, this 5-bedroom, 2-bathroom property offers over 1,600 finished square feet of living space. Key updates include a new roof, new vinyl windows, LVT flooring, a brand-new kitchen, and two modernized full bathrooms. The main floor features a spacious living room, a formal dining room, and an eat-in kitchen. Upstairs, you will find four bedrooms and a second full bath. The entire home has been freshly painted and is meticulously maintained. The property includes convenient parking for three vehicles and is situated in a well-established neighborhood, just around the corner from the Farmers Market and local shopping.

7. 2025-12-30
   listed $190,000 Active 703-char remark

   Show marketing remark (703 chars)

   This beautifully updated, move-in-ready home. Featuring modern finishes throughout, this 5-bedroom, 2-bathroom property offers over 1,600 finished square feet of living space. Key updates include a new roof, new vinyl windows, LVT flooring, a brand-new kitchen, and two modernized full bathrooms. The main floor features a spacious living room, a formal dining room, and an eat-in kitchen. Upstairs, you will find four bedrooms and a second full bath. The entire home has been freshly painted and is meticulously maintained. The property includes convenient parking for three vehicles and is situated in a well-established neighborhood, just around the corner from the Farmers Market and local shopping.

8. 2025-12-30
   listed $190,000 Active 703-char remark

   Show marketing remark (703 chars)

   This beautifully updated, move-in-ready home. Featuring modern finishes throughout, this 5-bedroom, 2-bathroom property offers over 1,600 finished square feet of living space. Key updates include a new roof, new vinyl windows, LVT flooring, a brand-new kitchen, and two modernized full bathrooms. The main floor features a spacious living room, a formal dining room, and an eat-in kitchen. Upstairs, you will find four bedrooms and a second full bath. The entire home has been freshly painted and is meticulously maintained. The property includes convenient parking for three vehicles and is situated in a well-established neighborhood, just around the corner from the Farmers Market and local shopping.

9. 2025-12-30
   listed $190,000 Active

   Show marketing remark (703 chars)

   This beautifully updated, move-in-ready home. Featuring modern finishes throughout, this 5-bedroom, 2-bathroom property offers over 1,600 finished square feet of living space. Key updates include a new roof, new vinyl windows, LVT flooring, a brand-new kitchen, and two modernized full bathrooms. The main floor features a spacious living room, a formal dining room, and an eat-in kitchen. Upstairs, you will find four bedrooms and a second full bath. The entire home has been freshly painted and is meticulously maintained. The property includes convenient parking for three vehicles and is situated in a well-established neighborhood, just around the corner from the Farmers Market and local shopping.

10. 2014-12-24
    historical
11. 2014-09-16
    historical
12. 2014-09-15
    historical
13. 2011-02-18
    historical
14. 2010-08-18
    listed $16,000
15. 2010-08-18
    listed $16,000
16. 2010-05-25
    soldstatus $7,000
17. 2010-03-01
    listed $11,200
18. 2010-01-31
    listed $14,000
19. 2010-01-22
    listed $14,000
20. 1986-05-14
    listed $19,900
21. 1986-05-14
    listed $19,900

ⓘ 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: $1,546 · $129/mo
• Projected year-2 tax: $2,197 · $183/mo
• Expected delta: +$652/yr (+$54/mo · 42.2%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,936
• − Mortgage interest: −$10,363
• − Property taxes: −$1,546
• − Insurance: −$925
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$5,382
• Taxable loss: −$629
• Est. tax savings @ 24.0%: +$151
• After-tax cash flow: $2,578/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): 20,946
• Household income: $56,432
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 15% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 6% Iranian 4% Slovak 3%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 11% Arabic 2% Other Indo-European 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: ▼ -264.90%
• Current HPI: 206.9355
• Rent YoY: ▲ 6.41%
• 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

+829.6% since first listed

21 events — show timeline

• 2026-04-27 Pending — REALCOMP
• 2026-04-27 Pending — MiRealSource-MiMLS
• 2026-04-27 Pending — SW Michigan MLS
• 2026-04-15 Price Changed $185,000 MiRealSource-MiMLS
• 2026-04-14 Price Changed $185,000 REALCOMP
• 2026-04-14 Price Changed $185,000 SW Michigan MLS
• 2025-12-30 Listed $190,000 REALCOMP
• 2025-12-30 Listed $190,000 SW Michigan MLS
• 2025-12-30 Listed $190,000 MiRealSource-MiMLS
• 2014-12-24 Listing Removed — SW Michigan MLS
• 2014-09-16 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2011-02-18 Listing Removed — REALCOMP
• 2010-08-18 Listed $16,000 REALCOMP
• 2010-08-18 Listed $16,000 SW Michigan MLS
• 2010-05-25 Sold (MLS) $7,000 SW Michigan MLS
• 2010-03-01 Listed $11,200 SW Michigan MLS
• 2010-01-31 Listed $14,000 SW Michigan MLS
• 2010-01-22 Listed $14,000 SW Michigan MLS
• 1986-05-14 Listed $19,900 REALCOMP
• 1986-05-14 Listed $19,900 SW Michigan MLS

Property tax history

+5.6%/yr

Latest (2025): $1,546 · -39.0% YoY. Source: county tax records.