141 Reed St · Kalamazoo, MI 49001

$104,900

3 bd · 2.0 ba · 1,764 sqft · SingleFamily public records · 29 Days on market

Built 1907 8,712 sqft lot

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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
• 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

New Roof on this Kalamazoo duplex, each unit is a 3 bed 1 full bath. This duplex has had some updates done to it as of recent. Property includes a basement that presents potential for conversion into a third unit. The upside is there for more rental income, subject to municipal approval. Professionally managed and rents at or near market rents, call for financials. 24 hour notice for showings is a must. call today!

Key facts

• Basement potential
• Rental income
• New roof

Tags

• NEW ROOF
• BASEMENT POTENTIAL
• RENTAL INCOME

Property features AI

Finance

• Other: Lot approximately 66 x 132 (0.2 acre)
• Financial info: One unit currently rented for $850 per month; One unit currently rented for $800 per month; Annual tax amount reported as $3,500

Exterior

• Parking: 4 total parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable connected; Phone connected
• Home design: Multi-family residential income property
• Construction: Stucco exterior; Composition roof
• Exterior features: Paved public road access; Residential zoning

Interior

• Bedrooms: Two units each with 3 bedrooms
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Forced-air heating; Natural gas heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $848 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $103k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.0% 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; 5 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).
• At $2,194/mo this rent would consume 47% of the median local household income ($56k/yr) (locally 1184% 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 $725 of loan paydown is wiped out by about $3k 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 + 6.4% rent growth), your $29k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 23 sale attempts since 32y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,326 (1.5% below list)

Questions for the listing agent

1. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.09% ✓
• Cap rate: 16.00%
• Cash-on-cash: 34.66%
• DSCR: 2.54
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $264,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2412 Glenwood Dr	0.75mi	3/2.5	1,802 (+2%)	1mo	$310,000	$172	59
2332 S Rose St	0.52mi	3/1.5	1,880 (+7%)	7mo	$288,250	$153	57
2327 Outlook St	0.51mi	3/2.0	1,568 (-11%)	2mo	$193,000	$123	56
2133 S Burdick St	0.36mi	4/2.0 (+1)	1,519 (-14%)	1mo	$240,000	$158	54
2338 Glenwood Dr	0.71mi	3/3.5	1,711 (-3%)	3mo	$418,000	$244	54
117 Edgemoor Ave	0.66mi	3/1.5	1,918 (+9%)	4mo	$286,000	$149	49
1006 Hays Park Ave	0.71mi	4/2.0 (+1)	1,613 (-9%)	1mo	$185,000	$115	47
2313 S Westnedge Ave	0.60mi	4/2.0 (+1)	1,540 (-13%)	4mo	$240,000	$156	42
215 Inkster Ave	0.58mi	2/2.0 (-1)	1,546 (-12%)	8mo	$232,000	$150	41
855 Lay Blvd	0.62mi	3/1.5	1,510 (-14%)	6mo	$160,000	$106	40
1002 Egleston Ave	0.71mi	3/2.0	1,978 (+12%)	8mo	$130,000	$66	40
1009 Oak St	0.74mi	4/2.0 (+1)	1,526 (-14%)	7mo	$141,000	$92	32

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: 34.4%
• Equity multiple: 2.53×
• Total profit: $44,957
• Equity at exit: $15,641

10-year hold

• IRR: 43.2%
• Equity multiple: 5.89×
• Total profit: $143,537
• Equity at exit: $9,070

Cash invested: $29,372 (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: 4.0×

Monthly cashflow live

• Estimated rent: $2,194 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$291 /mo · $3,495/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $848

Break-even live

Break-even rent $1,120

Max offer price $104,900

Occupancy floor 56%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	21d	1	0.65mi
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	13d	12	0.85mi
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	13d	2	0.87mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	13d	1	1.18mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	21d	1	1.45mi

Listing history 50 events

1. 2026-06-18
   days on market $104,900 Active 29 DOM
2. 2026-06-17
   days on market $104,900 Active 28 DOM
3. 2026-06-16
   days on market $104,900 Active 27 DOM
4. 2026-06-15
   days on market $104,900 Active 26 DOM
5. 2026-06-14
   days on market $104,900 Active 24 DOM
6. 2026-06-13
   days on market $104,900 Active 23 DOM
7. 2026-06-10
   days on market $104,900 Active 21 DOM
8. 2026-06-09
   days on market $104,900 Active 20 DOM
9. 2026-06-08
   days on market $104,900 Active 19 DOM
10. 2026-06-07
    days on market $104,900 Active 18 DOM
11. 2026-06-05
    days on market $104,900 Active 15 DOM
12. 2026-06-03
    days on market $104,900 Active 14 DOM
13. 2026-06-02
    pricedays on market $104,900 Active 13 DOM
14. 2026-06-01
    days on market $114,900 Active 12 DOM
15. 2026-05-31
    days on market $114,900 Active 11 DOM
16. 2026-05-30
    days on market $114,900 Active 10 DOM
17. 2026-05-20
    listed $114,900 Active 418-char remark

    Show marketing remark (418 chars)

    New Roof on this Kalamazoo duplex, each unit is a 3 bed 1 full bath. This duplex has had some updates done to it as of recent. Property includes a basement that presents potential for conversion into a third unit. The upside is there for more rental income, subject to municipal approval. Professionally managed and rents at or near market rents, call for financials. 24 hour notice for showings is a must. call today!

18. 2026-05-20
    listed $114,900 Active

    Show marketing remark (418 chars)

    New Roof on this Kalamazoo duplex, each unit is a 3 bed 1 full bath. This duplex has had some updates done to it as of recent. Property includes a basement that presents potential for conversion into a third unit. The upside is there for more rental income, subject to municipal approval. Professionally managed and rents at or near market rents, call for financials. 24 hour notice for showings is a must. call today!

19. 2026-05-16
    historical
20. 2026-03-31
    price $115,000
21. 2026-03-30
    price $115,000
22. 2026-03-19
    status Active
23. 2026-03-19
    status Active
24. 2026-03-14
    status Pending
25. 2026-03-14
    status Pending
26. 2026-03-14
    historical
27. 2026-02-28
    price $125,000
28. 2026-02-27
    price $125,000
29. 2026-01-30
    price $135,000
30. 2026-01-29
    price $135,000
31. 2026-01-13
    listed $142,900 Active
32. 2026-01-13
    listed $142,900 Active
33. 2026-01-10
    historical
34. 2026-01-09
    historical
35. 2026-01-03
    price $142,900
36. 2026-01-02
    price $142,900
37. 2025-11-15
    price $149,900
38. 2025-11-14
    price $149,900
39. 2025-10-10
    listed $162,500 Active
40. 2025-10-10
    listed $162,500 Active
41. 2024-05-01
    historical
42. 2024-04-30
    historical
43. 2024-03-01
    price $145,000
44. 2024-03-01
    price $145,000
45. 2024-02-29
    price $145,000
46. 2024-01-30
    listed $155,000 Active
47. 2024-01-30
    listed $155,000 Active
48. 2022-08-25
    soldstatus $118,000 Sold
49. 2022-08-25
    soldstatus $118,000 Sold
50. 2022-07-19
    status Pending

ⓘ 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: $3,495 · $291/mo
• Projected year-2 tax: $3,495 · $291/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $26,332
• − Mortgage interest: −$5,876
• − Property taxes: −$3,495
• − Insurance: −$524
• − Repairs & maintenance: −$2,107
• − Management: −$2,107
• − Depreciation: −$3,052
• Taxable income: $9,172
• Est. tax owed @ 24.0%: −$2,201
• After-tax cash flow: $7,980/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

+248.2% since first listed

61 events — show timeline

• 2026-05-20 Listed $114,900 REALCOMP
• 2026-05-20 Listed $114,900 MiRealSource-MiMLS
• 2026-05-16 Listing Removed — MiRealSource-MiMLS
• 2026-03-31 Price Changed $115,000 MiRealSource-MiMLS
• 2026-03-30 Price Changed $115,000 REALCOMP
• 2026-03-19 Relisted — REALCOMP
• 2026-03-19 Relisted — MiRealSource-MiMLS
• 2026-03-14 Pending — REALCOMP
• 2026-03-14 Pending — MiRealSource-MiMLS
• 2026-03-14 Listing Removed — REALCOMP
• 2026-02-28 Price Changed $125,000 MiRealSource-MiMLS
• 2026-02-27 Price Changed $125,000 REALCOMP
• 2026-01-30 Price Changed $135,000 MiRealSource-MiMLS
• 2026-01-29 Price Changed $135,000 REALCOMP
• 2026-01-13 Listed $142,900 REALCOMP
• 2026-01-13 Listed $142,900 MiRealSource-MiMLS
• 2026-01-10 Listing Removed — MiRealSource-MiMLS
• 2026-01-09 Listing Removed — REALCOMP
• 2026-01-03 Price Changed $142,900 MiRealSource-MiMLS
• 2026-01-02 Price Changed $142,900 REALCOMP
• 2025-11-15 Price Changed $149,900 MiRealSource-MiMLS
• 2025-11-14 Price Changed $149,900 REALCOMP
• 2025-10-10 Listed $162,500 REALCOMP
• 2025-10-10 Listed $162,500 MiRealSource-MiMLS
• 2024-05-01 Listing Removed — MiRealSource-MiMLS
• 2024-04-30 Listing Removed — REALCOMP
• 2024-03-01 Price Changed $145,000 MiRealSource-MiMLS
• 2024-03-01 Price Changed $145,000 REALCOMP
• 2024-02-29 Price Changed $145,000 SW Michigan MLS
• 2024-01-30 Listed $155,000 MiRealSource-MiMLS
• 2024-01-30 Listed $155,000 REALCOMP
• 2022-08-25 Sold (MLS) $118,000 SW Michigan MLS
• 2022-08-25 Sold (MLS) $118,000 REALCOMP
• 2022-07-19 Pending — SW Michigan MLS
• 2022-07-06 Listing Removed — REALCOMP
• 2022-06-30 Listed $125,000 SW Michigan MLS
• 2022-06-30 Listed $125,000 REALCOMP
• 2017-04-06 Sold (MLS) $39,000 SW Michigan MLS
• 2017-04-06 Sold (MLS) $39,000 REALCOMP
• 2017-03-21 Pending — SW Michigan MLS
• 2017-03-16 Listed $45,000 SW Michigan MLS
• 2017-03-16 Listed $45,000 REALCOMP
• 2015-10-28 Listing Removed — SW Michigan MLS
• 2015-10-27 Listing Removed — REALCOMP
• 2015-09-05 Listed $32,900 SW Michigan MLS
• 2014-10-27 Listed $32,900 REALCOMP
• 2014-10-17 Listing Removed — SW Michigan MLS
• 2009-07-10 Sold (MLS) $16,000 SW Michigan MLS
• 2009-06-08 Listed $19,900 SW Michigan MLS
• 2008-11-03 Listing Removed — SW Michigan MLS
• 2008-07-15 Listed $79,000 SW Michigan MLS
• 2007-02-23 Sold (Public Records) $78,000 Public Records
• 2007-02-02 Sold (MLS) $78,000 SW Michigan MLS
• 2006-12-18 Listed $78,000 SW Michigan MLS
• 2006-08-03 Listing Removed — SW Michigan MLS
• 2005-11-07 Listed $85,900 SW Michigan MLS
• 2003-08-19 Sold (MLS) $19,000 REALCOMP
• 2003-08-19 Sold (MLS) $19,000 SW Michigan MLS
• 2003-06-26 Listed $19,900 REALCOMP
• 2003-06-26 Listed $19,900 SW Michigan MLS
• 1994-06-10 Listed $33,000 SW Michigan MLS

Property tax history

+8.7%/yr

Latest (2025): $3,495 · +3.0% YoY. Source: county tax records.