5122 Parkview Ln · South Haven, MI 49090

$353,500

3 bd · 2.5 ba · 2,184 sqft · Land · 73 Days on market

Built 2023 4,597 sqft lot $162/sqft · at area comps Est $353k · at est. $63/mo HOA · 2% of rent

---

Why this score? — see what drove the D+ 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 +17.3/30.0
• ARV discount +7.4/15.0
• DSCR +5.4/10.0
• 1% rule +4.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

$2000 OFFERED TO BUYER AS CREDIT OR RATE BUY-DOWN! 2024 new build home in Lighthouse Village is located in the South Haven school district, just 5 minutes from downtown and the beach, and is conveniently close to all your shopping needs. The home features an open-concept main floor, complete with a first-floor laundry room and a beautiful kitchen that includes castled cabinets, a center island, and SS appliances. You'll also find a spacious great room, a cozy dining nook, a half bathroom, and a mudroom entrance off the garage. Upstairs, there are three bedrooms. The large primary ensuite boasts a walk-in closet and a private full bath. Two additional bedrooms and another full bath complete the upper level. The large basement is unfinished and has daylight windows, offering a great opportunity for a custom finish.

Key facts

• New build home
• Castled cabinets
• Lighthouse village

Tags

• NEW BUILD HOME
• LIGHTHOUSE VILLAGE
• SOUTH HAVEN SCHOOL DISTRICT
• OPEN-CONCEPT MAIN FLOOR
• FIRST-FLOOR LAUNDRY ROOM
• CASTLED CABINETS

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $354k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/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 $350k (1.0% below list).
• Recommended offer: $332k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 0.5% in South Haven — 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 69/100 on livability (#353 in MI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: crime F, commute F.
• South Haven Public Schools (town): math 20% / reading 37% proficiency, ranked #383 of 540 in MI (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Maple Grove Elementary School (math 22% / reading 17%, grade F, #1,110 of 1,397 statewide, top 81%, 302 students, 72% FRL); Baseline Middle School (math 17% / reading 38%, grade F, #363 of 493 statewide, top 75%, 412 students, 71% FRL); South Haven High School (math 22% / reading 52%, grade F, #334 of 713 statewide, top 51%, 569 students, 61% FRL).
• Market conditions: 216 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 165 units permitted in Van Buren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Van Buren County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($332k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 13y 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.

Recommended offer $332,290 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 7.17%
• Cash-on-cash: 3.14%
• DSCR: 1.14
• GRM: 8.4

CMA / ARV

• ARV (median comp): $352,646
• List price: $353,500
• Delta: 0.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-40,692
• Equity at exit: $52,708

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-13,818
• Equity at exit: $30,564

Cash invested: $98,980 (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 49090

• Active inventory: 216
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,500 medium
• Mortgage (P&I): −$1,854
• Tax est. 1.5%: −$442 /mo · $5,302/yr
• Insurance: −$147
• HOA: −$63
• Vacancy / Maint / Mgmt: −$735
• Net cashflow: $259

Break-even live

Break-even rent $3,172

Max offer price $353,500

Occupancy floor 88%

Sensitivity live

Price	-10% $503	-5% $381	+0% $259	+5% $137	+10% $15
Rent	-10% $-17	-5% $121	+0% $259	+5% $397	+10% $536
Rate	-1.0pp $437	-0.5pp $349	base $259	+0.5pp $167	+1.0pp $74

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: $88,375
• Closing costs: $10,605
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5161 Parkview Ln South Haven, MI	4.0	3.0	2495	$3,500	$1.40	45d	1	0.04mi

HOA detail

• Monthly dues: $63 · $756/yr

Listing history 40 events

1. 2026-05-18
   price $353,500 824-char remark

   Show marketing remark (824 chars)

   $2000 OFFERED TO BUYER AS CREDIT OR RATE BUY-DOWN! 2024 new build home in Lighthouse Village is located in the South Haven school district, just 5 minutes from downtown and the beach, and is conveniently close to all your shopping needs. The home features an open-concept main floor, complete with a first-floor laundry room and a beautiful kitchen that includes castled cabinets, a center island, and SS appliances. You'll also find a spacious great room, a cozy dining nook, a half bathroom, and a mudroom entrance off the garage. Upstairs, there are three bedrooms. The large primary ensuite boasts a walk-in closet and a private full bath. Two additional bedrooms and another full bath complete the upper level. The large basement is unfinished and has daylight windows, offering a great opportunity for a custom finish.

2. 2026-05-18
   price $353,500 824-char remark

   Show marketing remark (824 chars)

   $2000 OFFERED TO BUYER AS CREDIT OR RATE BUY-DOWN! 2024 new build home in Lighthouse Village is located in the South Haven school district, just 5 minutes from downtown and the beach, and is conveniently close to all your shopping needs. The home features an open-concept main floor, complete with a first-floor laundry room and a beautiful kitchen that includes castled cabinets, a center island, and SS appliances. You'll also find a spacious great room, a cozy dining nook, a half bathroom, and a mudroom entrance off the garage. Upstairs, there are three bedrooms. The large primary ensuite boasts a walk-in closet and a private full bath. Two additional bedrooms and another full bath complete the upper level. The large basement is unfinished and has daylight windows, offering a great opportunity for a custom finish.

3. 2026-05-18
   price $353,500

   Show marketing remark (824 chars)

   $2000 OFFERED TO BUYER AS CREDIT OR RATE BUY-DOWN! 2024 new build home in Lighthouse Village is located in the South Haven school district, just 5 minutes from downtown and the beach, and is conveniently close to all your shopping needs. The home features an open-concept main floor, complete with a first-floor laundry room and a beautiful kitchen that includes castled cabinets, a center island, and SS appliances. You'll also find a spacious great room, a cozy dining nook, a half bathroom, and a mudroom entrance off the garage. Upstairs, there are three bedrooms. The large primary ensuite boasts a walk-in closet and a private full bath. Two additional bedrooms and another full bath complete the upper level. The large basement is unfinished and has daylight windows, offering a great opportunity for a custom finish.

4. 2026-03-12
   listed $354,000 Active 824-char remark

   Show marketing remark (824 chars)

   $2000 OFFERED TO BUYER AS CREDIT OR RATE BUY-DOWN! 2024 new build home in Lighthouse Village is located in the South Haven school district, just 5 minutes from downtown and the beach, and is conveniently close to all your shopping needs. The home features an open-concept main floor, complete with a first-floor laundry room and a beautiful kitchen that includes castled cabinets, a center island, and SS appliances. You'll also find a spacious great room, a cozy dining nook, a half bathroom, and a mudroom entrance off the garage. Upstairs, there are three bedrooms. The large primary ensuite boasts a walk-in closet and a private full bath. Two additional bedrooms and another full bath complete the upper level. The large basement is unfinished and has daylight windows, offering a great opportunity for a custom finish.

5. 2026-03-12
   listed $354,000 Active 824-char remark

   Show marketing remark (824 chars)

   $2000 OFFERED TO BUYER AS CREDIT OR RATE BUY-DOWN! 2024 new build home in Lighthouse Village is located in the South Haven school district, just 5 minutes from downtown and the beach, and is conveniently close to all your shopping needs. The home features an open-concept main floor, complete with a first-floor laundry room and a beautiful kitchen that includes castled cabinets, a center island, and SS appliances. You'll also find a spacious great room, a cozy dining nook, a half bathroom, and a mudroom entrance off the garage. Upstairs, there are three bedrooms. The large primary ensuite boasts a walk-in closet and a private full bath. Two additional bedrooms and another full bath complete the upper level. The large basement is unfinished and has daylight windows, offering a great opportunity for a custom finish.

6. 2026-03-12
   listed $354,000 Active

   Show marketing remark (824 chars)

   $2000 OFFERED TO BUYER AS CREDIT OR RATE BUY-DOWN! 2024 new build home in Lighthouse Village is located in the South Haven school district, just 5 minutes from downtown and the beach, and is conveniently close to all your shopping needs. The home features an open-concept main floor, complete with a first-floor laundry room and a beautiful kitchen that includes castled cabinets, a center island, and SS appliances. You'll also find a spacious great room, a cozy dining nook, a half bathroom, and a mudroom entrance off the garage. Upstairs, there are three bedrooms. The large primary ensuite boasts a walk-in closet and a private full bath. Two additional bedrooms and another full bath complete the upper level. The large basement is unfinished and has daylight windows, offering a great opportunity for a custom finish.

7. 2026-03-11
   historical
8. 2026-03-10
   historical
9. 2026-02-13
   price $369,900
10. 2026-02-13
    price $369,900
11. 2026-02-13
    price $369,900
12. 2025-11-02
    price $379,900
13. 2025-11-01
    price $379,900
14. 2025-11-01
    price $379,900
15. 2025-09-02
    listed $389,900 Active
16. 2025-09-02
    listed $389,900 Active
17. 2025-08-26
    historical
18. 2024-05-27
    soldstatus $344,900 Sold
19. 2024-05-27
    soldstatus $344,900 Sold
20. 2024-05-27
    soldstatus $344,900 Closed
21. 2024-03-26
    status Pending
22. 2024-03-26
    status Pending
23. 2024-03-26
    status Pending
24. 2023-12-29
    listed $344,900 Active
25. 2023-12-29
    listed $344,900 Active
26. 2023-12-29
    listed $344,900 Active
27. 2018-10-10
    soldstatus $22,500
28. 2018-10-10
    soldstatus $22,500 Sold
29. 2016-10-11
    status Pending
30. 2016-09-10
    historical Active Backup
31. 2015-09-08
    listed $36,000 Active
32. 2015-09-01
    listed $36,000
33. 2015-08-28
    historical
34. 2015-08-28
    historical
35. 2015-02-16
    historical
36. 2015-02-16
    listed $19,900
37. 2015-02-16
    listed $19,900
38. 2015-02-15
    historical
39. 2013-10-09
    listed $19,900
40. 2013-10-09
    listed $19,900

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

Taxation est. · year 1

• Rental income: $42,000
• − Mortgage interest: −$19,801
• − Property taxes: −$5,302
• − Insurance: −$1,768
• − Repairs & maintenance: −$3,360
• − Management: −$3,360
• − HOA: −$756
• − Depreciation: −$10,284
• Taxable loss: −$2,631
• Est. tax savings @ 24.0%: +$631
• After-tax cash flow: $3,740/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: South Haven Public Schools
• NCES district ID: 2632300
• Math proficiency: 20% ▼ -13.00%
• Reading proficiency: 37% ▼ -6.00%
• Median HH income: $44,080
• Composite: 24.33/100
• National rank: #7703
• State rank: #383 of 540 in MI

Livability — South Haven

• Score: 69/100
• State rank: #353
• US rank: #9003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,562

Population outlook (Van Buren County) Hauer SSP2

• Today (2025): 71,479 people
• By 2030: 68,693 · -3.9%
• By 2040: 62,093 · -13.1%
• By 2050: 55,232 · -22.7%
• By 2075: 40,786 · -42.9%
• By 2100: 27,785 · -61.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 11% Hispanic / Latino 9% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 6% Iranian 5% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 90% English-only · Spanish 6% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Van Buren

• 2024 margin: R (+15.1) · D 41.7% · R 56.9% · Other 1.4%
• 2008→2024 swing: -23.9pp toward R · 2008: 8.8pp · 2024: -15.1pp
• All cycles: 2024: R+15.1 2020: R+12.3 2016: R+13.9 2012: D+0.5 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -286.78%
• Current HPI: 221.5371
• Rent YoY: —
• Metro: —
• 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

+1676.4% since first listed

40 events — show timeline

• 2026-05-18 Price Changed $353,500 MiRealSource-MiMLS
• 2026-05-18 Price Changed $353,500 REALCOMP
• 2026-05-18 Price Changed $353,500 SW Michigan MLS
• 2026-03-12 Listed $354,000 SW Michigan MLS
• 2026-03-12 Listed $354,000 REALCOMP
• 2026-03-12 Listed $354,000 MiRealSource-MiMLS
• 2026-03-11 Listing Removed — MiRealSource-MiMLS
• 2026-03-10 Listing Removed — REALCOMP
• 2026-02-13 Price Changed $369,900 MiRealSource-MiMLS
• 2026-02-13 Price Changed $369,900 REALCOMP
• 2026-02-13 Price Changed $369,900 SW Michigan MLS
• 2025-11-02 Price Changed $379,900 MiRealSource-MiMLS
• 2025-11-01 Price Changed $379,900 REALCOMP
• 2025-11-01 Price Changed $379,900 SW Michigan MLS
• 2025-09-02 Listed $389,900 REALCOMP
• 2025-09-02 Listed $389,900 MiRealSource-MiMLS
• 2025-08-26 Coming Soon — MiRealSource-MiMLS
• 2024-05-27 Sold (MLS) $344,900 MiRealSource-MiMLS
• 2024-05-27 Sold (MLS) $344,900 SW Michigan MLS
• 2024-05-27 Sold (MLS) $344,900 REALCOMP
• 2024-03-26 Pending — REALCOMP
• 2024-03-26 Pending — MiRealSource-MiMLS
• 2024-03-26 Pending — SW Michigan MLS
• 2023-12-29 Listed $344,900 MiRealSource-MiMLS
• 2023-12-29 Listed $344,900 SW Michigan MLS
• 2023-12-29 Listed $344,900 REALCOMP
• 2018-10-10 Sold (MLS) $22,500 SW Michigan MLS
• 2018-10-10 Sold (MLS) $22,500 REALCOMP
• 2016-10-11 Pending — SW Michigan MLS
• 2016-09-10 Contingent — SW Michigan MLS
• 2015-09-08 Listed $36,000 SW Michigan MLS
• 2015-09-01 Listed $36,000 REALCOMP
• 2015-08-28 Listing Removed — SW Michigan MLS
• 2015-08-28 Listing Removed — REALCOMP
• 2015-02-16 Listing Removed — SW Michigan MLS
• 2015-02-16 Listed $19,900 SW Michigan MLS
• 2015-02-16 Listed $19,900 REALCOMP
• 2015-02-15 Listing Removed — REALCOMP
• 2013-10-09 Listed $19,900 REALCOMP
• 2013-10-09 Listed $19,900 SW Michigan MLS