1021 Avondale Cir · Kalamazoo, MI 49048

$239,888

4 bd · 2.0 ba · 1,152 sqft · MultiFamily public records · 4 Days on market

Built 1956 0.27 ac lot

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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 +12.7/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +4.5/5.0
• 1% rule +3.8/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• 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

Turnkey Kalamazoo Township duplex in a quiet, established neighborhood--minutes from everything. Two spacious 2-bed/1-bath units (~700 sq ft each), each with its own full basement, separate heat system, and central air. Fully separated utilities (gas, electric, water) with tenants paying ALL utilities--true low-overhead ownership. All appliances stay. Wood flooring, fresh paint, newer roof and mechanicals. Large back yard with two sheds. Current gross rents total $2,079/mo with a steady tenant wait list. House-hack one side while the other covers your payment, or run both as cash-flowing rentals. Don't miss it.

Key facts

• Turnkey duplex
• Full basement
• Separate heat system

Tags

• TURNKEY DUPLEX
• QUIET ESTABLISHED NEIGHBORHOOD
• FULL BASEMENT
• SEPARATE HEAT SYSTEM
• CENTRAL AIR
• FULLY SEPARATED UTILITIES

Property features AI

Finance

• Financial info: Listed rents: one unit at $1,080 and another at $999

Exterior

• Parking: Two parking spaces; Concrete and paved parking surface
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Residential income property (multi-family); Multi-family building
• Construction: Stone and other construction materials; Composition roof
• Exterior features: Cul-de-sac lot; Level lot; Paved road access; Sidewalks

Interior

• Kitchen: Each unit includes basic kitchen with space for appliances (details: units listed with kitchens)
• Bedrooms: Two 2-bedroom units (each unit has 2 bedrooms)
• Bathrooms: Each unit has 1 bathroom
• Heating & cooling: Central air; Forced air heat; Natural gas heating
• Interior features: Full basement
• Laundry & utility: Each unit has washer/dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $-25 ($-294/yr) — negative. Per door: $-12/mo.
• To cash-flow at today's rent, offer at most $236k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (12.3% below list).
• Recommended offer: $210k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Zoned schools: Northeastern Elementary School (212 students, 92% FRL); Linden Grove Middle School (math 30% / reading 70%, grade C, #125 of 493 statewide, top 25%, 705 students, 69% FRL); Kalamazoo Central High School (math 42% / reading 67%, grade C-, #109 of 713 statewide, top 17%, 1,612 students, 64% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 156 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 42% of the median local income ($60k/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 $2k of loan paydown is wiped out by about $7k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 18 sale attempts since 23y 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 $176k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $210,400 (12.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.88% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.56×
• Total profit: $-29,544
• Equity at exit: $35,768

10-year hold

• IRR: 3.6%
• Equity multiple: 1.32×
• Total profit: $21,674
• Equity at exit: $20,741

Cash invested: $67,169 (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 49048

• Rents YoY: 7.9%
• Active inventory: 156
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $2,104 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$329 /mo · $3,945/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $-25

Break-even live

Break-even rent $2,135

Max offer price $235,558

Occupancy floor 96%

Sensitivity live

Price	-10% $111	-5% $43	+0% $-25	+5% $-92	+10% $-160
Rent	-10% $-191	-5% $-108	+0% $-25	+5% $59	+10% $142
Rate	-1.0pp $96	-0.5pp $37	base $-25	+0.5pp $-87	+1.0pp $-150

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,104
Total (2 units)			$2,104

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: $59,972
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1928 Colgrove Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	912	$1,390	$1.52	15d	13	1.13mi

Listing history 3 events

1. 2026-06-21
   days on market $239,888 Active 4 DOM
2. 2026-06-17
   remarks 618-char remark

   Show marketing remark (618 chars)

   Turnkey Kalamazoo Township duplex in a quiet, established neighborhood--minutes from everything. Two spacious 2-bed/1-bath units (~700 sq ft each), each with its own full basement, separate heat system, and central air. Fully separated utilities (gas, electric, water) with tenants paying ALL utilities--true low-overhead ownership. All appliances stay. Wood flooring, fresh paint, newer roof and mechanicals. Large back yard with two sheds. Current gross rents total $2,079/mo with a steady tenant wait list. House-hack one side while the other covers your payment, or run both as cash-flowing rentals. Don't miss it.

3. 2026-06-17
   listed $239,888 Active 1 DOM

   Show marketing remark (618 chars)

   Turnkey Kalamazoo Township duplex in a quiet, established neighborhood--minutes from everything. Two spacious 2-bed/1-bath units (~700 sq ft each), each with its own full basement, separate heat system, and central air. Fully separated utilities (gas, electric, water) with tenants paying ALL utilities--true low-overhead ownership. All appliances stay. Wood flooring, fresh paint, newer roof and mechanicals. Large back yard with two sheds. Current gross rents total $2,079/mo with a steady tenant wait list. House-hack one side while the other covers your payment, or run both as cash-flowing rentals. Don't miss it.

ⓘ 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: $3,945 · $329/mo
• Projected year-2 tax: $3,945 · $329/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: $25,248
• − Mortgage interest: −$13,437
• − Property taxes: −$3,945
• − Insurance: −$1,199
• − Repairs & maintenance: −$2,020
• − Management: −$2,020
• − Depreciation: −$6,979
• Taxable loss: −$4,352
• Est. tax savings @ 24.0%: +$1,044
• After-tax cash flow: $750/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: Eastwood, MI
• County: Kalamazoo County · 224,317 people
• City population: 121,397
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 22,791
• Household income: $60,454
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 835.0

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 (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 6% Romanian 4% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% 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: ▼ -205.26%
• Current HPI: 180.4766
• Rent YoY: ▲ 7.88%
• 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

+140.1% since first listed

40 events — show timeline

• 2026-06-17 Listed $239,888 REALCOMP
• 2026-06-17 Listed $239,888 MiRealSource-MiMLS
• 2024-08-29 Rental Removed $999 RENTLY
• 2024-07-27 Price Changed $999 RENTLY
• 2024-07-04 Listed for Rent $1,099 RENTLY
• 2024-03-14 Rental Removed $975 APPFOLIO
• 2024-03-06 Listed for Rent $975 APPFOLIO
• 2024-02-10 Rental Removed $975 APPFOLIO
• 2024-02-08 Listed for Rent $975 APPFOLIO
• 2024-01-20 Rental Removed $975 APPFOLIO
• 2024-01-12 Price Changed $975 APPFOLIO
• 2024-01-07 Price Changed $875 APPFOLIO
• 2023-11-18 Listed for Rent $999 APPFOLIO
• 2023-09-22 Rental Removed $999 APPFOLIO
• 2023-09-15 Listed for Rent $999 APPFOLIO
• 2023-09-06 Rental Removed $1,050 APPFOLIO
• 2023-09-05 Listed for Rent $1,050 APPFOLIO
• 2023-08-31 Rental Removed $1,050 APPFOLIO
• 2023-08-30 Listed for Rent $1,050 APPFOLIO
• 2023-08-24 Rental Removed $1,050 APPFOLIO
• 2023-07-28 Price Changed $1,050 APPFOLIO
• 2023-07-27 Listed for Rent $1,098 APPFOLIO
• 2022-08-16 Sold (Public Records) $175,888 Public Records
• 2022-08-05 Sold (MLS) $175,888 MiRealSource-MiMLS
• 2022-08-05 Sold (MLS) $175,888 SW Michigan MLS
• 2022-08-05 Sold (MLS) $175,888 REALCOMP
• 2022-07-24 Pending — SW Michigan MLS
• 2022-07-15 Listed $198,500 MiRealSource-MiMLS
• 2022-07-15 Listed $198,500 SW Michigan MLS
• 2022-07-15 Listed $198,500 REALCOMP
• 2014-10-16 Listing Removed — SW Michigan MLS
• 2013-03-29 Sold (MLS) $50,000 REALCOMP
• 2013-03-29 Sold (MLS) $50,000 SW Michigan MLS
• 2013-01-03 Listed $74,900 REALCOMP
• 2013-01-03 Listed $74,900 SW Michigan MLS
• 2004-08-10 Listing Removed — SW Michigan MLS
• 2004-03-02 Listed $123,900 SW Michigan MLS
• 2003-11-04 Sold (MLS) $70,000 SW Michigan MLS
• 2003-09-15 Listed $74,900 SW Michigan MLS
• 2003-01-06 Listed $99,900 SW Michigan MLS

Property tax history

+14.0%/yr

Latest (2025): $3,945 · +5.2% YoY. Source: county tax records.