415 S Main St · Antwerp, MI 49065

$190,000

3 bd · 2.0 ba · 1,360 sqft · SingleFamily public records · 190 Days on market

Built 1920 0.33 ac lot $140/sqft · 9% below area Est $209k · 9% under

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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 +27.5/30.0
• ARV discount +11.5/15.0
• DSCR +9.6/10.0
• 1% rule +7.0/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated 2 bed / 1 bath home in historic downtown Lawton close to restaurants & shopping. Fenced in backyard with storage shed. Newer water heater & appliances. SHORT SALE POSSIBLE.

Key facts

• Fenced in backyard
• Storage shed
• 0.33 acre lot

Tags

• FENCED IN BACKYARD
• STORAGE SHED
• HISTORIC DOWNTOWN LAWTON

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Lawton Community School District (rural): math 27% / reading 45% proficiency, ranked #263 of 540 in MI (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 190 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $167,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 190 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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: 1.20% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.64%
• DSCR: 1.56
• GRM: 7.0

CMA / ARV

• ARV (median comp): $208,589
• List price: $190,000
• Delta: -8.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
402 Durkee St	0.15mi	3/1.0	1,404 (+3%)	7mo	$261,000	$186	78
238 Harvey St	0.29mi	4/3.0 (+1)	1,384 (+2%)	1mo	$260,000	$188	74
604 E 2nd St	0.44mi	3/1.0	1,350 (-1%)	4mo	$162,000	$120	71
601 S Nursery St	0.36mi	3/1.5	1,373 (+1%)	13mo	$250,000	$182	69
432 S Main St	0.04mi	3/1.0	1,560 (+15%)	9mo	$200,000	$128	62
806 E 3rd St	0.51mi	3/2.0	1,440 (+6%)	6mo	$238,000	$165	61
606 E 2nd St	0.45mi	4/1.0 (+1)	1,392 (+2%)	9mo	$230,000	$165	58
405 E Bitely St	0.17mi	2/1.0 (-1)	1,205 (-11%)	8mo	$226,000	$188	58
117 S Adams St	0.29mi	3/1.5	1,156 (-15%)	5mo	$195,000	$169	55
727 E 2nd St	0.54mi	2/2.0 (-1)	1,333 (-2%)	14mo	$250,000	$188	55
106 N Quincy St	0.58mi	3/1.0	1,208 (-11%)	2mo	$165,013	$137	48
319 Union St	0.35mi	4/1.0 (+1)	1,456 (+7%)	23mo	$200,000	$137	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.09×
• Total profit: $4,884
• Equity at exit: $28,330

10-year hold

• IRR: 12.0%
• Equity multiple: 1.94×
• Total profit: $50,152
• Equity at exit: $16,428

Cash invested: $53,200 (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 49065

• Active inventory: 32
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,275 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$161 /mo · $1,937/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $560

Break-even live

Break-even rent $1,566

Max offer price $190,000

Occupancy floor 70%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $190,000 Active 190 DOM
2. 2026-06-17
   days on market $190,000 Active 189 DOM
3. 2026-06-16
   days on market $190,000 Active 188 DOM
4. 2026-06-15
   days on market $190,000 Active 187 DOM
5. 2026-06-13
   days on market $190,000 Active 185 DOM
6. 2026-06-12
   days on market $190,000 Active 184 DOM
7. 2026-06-09
   days on market $190,000 Active 181 DOM
8. 2026-06-08
   days on market $190,000 Active 180 DOM
9. 2026-06-07
   days on market $190,000 Active 179 DOM
10. 2026-06-05
    days on market $190,000 Active 177 DOM
11. 2026-06-04
    days on market $190,000 Active 175 DOM
12. 2026-06-02
    days on market $190,000 Active 174 DOM
13. 2026-06-01
    days on market $190,000 Active 173 DOM
14. 2026-05-31
    days on market $190,000 Active 172 DOM
15. 2026-05-31
    days on market $190,000 Active 171 DOM
16. 2025-12-24
    price $190,000 192-char remark

    Show marketing remark (192 chars)

    Updated 2 bed / 1 bath home in historic downtown Lawton close to restaurants & shopping. Fenced in backyard with storage shed. Newer water heater & appliances. SHORT SALE POSSIBLE.

17. 2025-12-23
    price $190,000 192-char remark

    Show marketing remark (192 chars)

    Updated 2 bed / 1 bath home in historic downtown Lawton close to restaurants & shopping. Fenced in backyard with storage shed. Newer water heater & appliances. SHORT SALE POSSIBLE.

18. 2025-12-23
    price $190,000

    Show marketing remark (192 chars)

    Updated 2 bed / 1 bath home in historic downtown Lawton close to restaurants & shopping. Fenced in backyard with storage shed. Newer water heater & appliances. SHORT SALE POSSIBLE.

19. 2025-12-10
    listed $198,000 Active 192-char remark

    Show marketing remark (192 chars)

    Updated 2 bed / 1 bath home in historic downtown Lawton close to restaurants & shopping. Fenced in backyard with storage shed. Newer water heater & appliances. SHORT SALE POSSIBLE.

20. 2025-12-10
    listed $198,000 Active 192-char remark

    Show marketing remark (192 chars)

    Updated 2 bed / 1 bath home in historic downtown Lawton close to restaurants & shopping. Fenced in backyard with storage shed. Newer water heater & appliances. SHORT SALE POSSIBLE.

21. 2025-12-10
    listed $198,000 Active

    Show marketing remark (192 chars)

    Updated 2 bed / 1 bath home in historic downtown Lawton close to restaurants & shopping. Fenced in backyard with storage shed. Newer water heater & appliances. SHORT SALE POSSIBLE.

22. 2025-11-21
    historical
23. 2025-11-21
    historical
24. 2025-09-15
    price $205,000
25. 2025-09-15
    price $205,000
26. 2025-09-15
    price $205,000
27. 2025-07-21
    listed $215,000 Active
28. 2025-07-21
    listed $215,000 Active
29. 2024-05-28
    soldstatus $190,000
30. 2024-05-17
    soldstatus $190,000 Sold
31. 2024-05-17
    soldstatus $190,000 Closed
32. 2024-05-17
    soldstatus $190,000 Sold
33. 2024-04-09
    historical Accepting Backup Offers
34. 2024-04-09
    historical Accepting Backup Offers
35. 2024-04-09
    historical Active - Backup Offers Accepted
36. 2024-04-06
    listed $192,500 Active
37. 2024-04-06
    listed $192,500 Active
38. 2024-04-06
    listed $192,500 Active
39. 2022-05-25
    historical
40. 2014-09-27
    historical
41. 2014-09-27
    historical
42. 2012-05-21
    soldstatus $35,500
43. 2012-05-21
    soldstatus $35,500
44. 2012-03-21
    listed $39,000
45. 2012-03-21
    listed $39,000
46. 2011-03-14
    historical
47. 2010-09-14
    listed $95,000
48. 2010-09-14
    listed $95,000
49. 2009-03-24
    soldstatus $95,000
50. 2009-03-20
    soldstatus $100,000

ⓘ 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: $1,937 · $161/mo
• Projected year-2 tax: $2,432 · $203/mo
• Expected delta: +$494/yr (+$41/mo · 25.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,300
• − Mortgage interest: −$10,643
• − Property taxes: −$1,937
• − Insurance: −$950
• − Repairs & maintenance: −$2,184
• − Management: −$2,184
• − Depreciation: −$5,527
• Taxable income: $3,875
• Est. tax owed @ 24.0%: −$930
• After-tax cash flow: $5,793/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: Lawton Community School District
• NCES district ID: 2621240
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 45% ▼ -3.00%
• Median HH income: $49,315
• Composite: 31.04/100
• National rank: #6084
• State rank: #263 of 540 in MI

Livability — Antwerp

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lawton, MI
• Population (ZIP): 7,283

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 (90%)
• Race & ethnicity: White 90% Two or more races 6% Hispanic / Latino 4%
• Common ancestry: Romanian 8% Iranian 6% Lithuanian 2%
• Foreign-born: 1% · Canada, South Korea
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -162.97%
• Current HPI: 165.0761
• 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

+192.3% since first listed

44 events — show timeline

• 2025-12-24 Price Changed $190,000 MiRealSource-MiMLS
• 2025-12-23 Price Changed $190,000 REALCOMP
• 2025-12-23 Price Changed $190,000 SW Michigan MLS
• 2025-12-10 Listed $198,000 REALCOMP
• 2025-12-10 Listed $198,000 SW Michigan MLS
• 2025-12-10 Listed $198,000 MiRealSource-MiMLS
• 2025-11-21 Listing Removed — REALCOMP
• 2025-11-21 Listing Removed — MiRealSource-MiMLS
• 2025-09-15 Price Changed $205,000 MiRealSource-MiMLS
• 2025-09-15 Price Changed $205,000 REALCOMP
• 2025-09-15 Price Changed $205,000 SW Michigan MLS
• 2025-07-21 Listed $215,000 REALCOMP
• 2025-07-21 Listed $215,000 MiRealSource-MiMLS
• 2024-05-28 Sold (Public Records) $190,000 Public Records
• 2024-05-17 Sold (MLS) $190,000 SW Michigan MLS
• 2024-05-17 Sold (MLS) $190,000 MiRealSource-MiMLS
• 2024-05-17 Sold (MLS) $190,000 REALCOMP
• 2024-04-09 Contingent — REALCOMP
• 2024-04-09 Contingent — MiRealSource-MiMLS
• 2024-04-09 Contingent — SW Michigan MLS
• 2024-04-06 Listed $192,500 SW Michigan MLS
• 2024-04-06 Listed $192,500 MiRealSource-MiMLS
• 2024-04-06 Listed $192,500 REALCOMP
• 2022-05-25 Listing Removed — REALCOMP
• 2014-09-27 Listing Removed — SW Michigan MLS
• 2014-09-27 Listing Removed — SW Michigan MLS
• 2012-05-21 Sold (MLS) $35,500 REALCOMP
• 2012-05-21 Sold (MLS) $35,500 SW Michigan MLS
• 2012-03-21 Listed $39,000 REALCOMP
• 2012-03-21 Listed $39,000 SW Michigan MLS
• 2011-03-14 Listing Removed — REALCOMP
• 2010-09-14 Listed $95,000 REALCOMP
• 2010-09-14 Listed $95,000 SW Michigan MLS
• 2009-03-24 Sold (Public Records) $95,000 Public Records
• 2009-03-20 Sold (MLS) $100,000 REALCOMP
• 2009-03-20 Sold (MLS) $100,000 SW Michigan MLS
• 2009-01-21 Listing Removed — REALCOMP
• 2008-11-25 Listed $104,900 REALCOMP
• 2008-11-25 Listed $104,900 SW Michigan MLS
• 2008-07-21 Listed $109,900 REALCOMP
• 2008-07-21 Listed $109,900 SW Michigan MLS
• 2007-08-21 Listing Removed — SW Michigan MLS
• 2007-03-24 Listed $65,000 SW Michigan MLS
• 2007-03-24 Listed $65,000 REALCOMP

Property tax history

+1.0%/yr

Latest (2025): $1,937 · +17.4% YoY. Source: county tax records.