15798 S 44th St · Athens, MI 49052

$109,000

2 bd · 1.0 ba · 1,286 sqft · SingleFamily public records · 42 Days on market

Built 1800 2.90 ac lot $85/sqft · 70% below area

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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 +17.6/30.0
• Appreciation +8.8/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +4.7/10.0
• Schools +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

2.9-acre country property in Kalamazoo County featuring a 2-bedroom, 1-bath farmhouse. This property includes a large barn and multiple outbuildings, providing ample space for storage or hobby use. The home requires renovation and updates throughout. Property sold as-is.

Key facts

• 2.9 acre lot
• Garage
• Built 1800

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water
• Home design: Traditional single-family residence; Residential property
• Construction: Wood siding construction; Shingle roof; Originally built in 1800
• Exterior features: Paved road access; Approximately 2.9-acre lot

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Basement (other type)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/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 $106k (3.0% below list).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 68/100 on livability (#367 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, amenities F, commute F.
• Vicksburg Community Schools (suburban): math 42% / reading 56% proficiency, ranked #100 of 540 in MI (top 18%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($754 loan paydown + $8k appreciation (7.6% local appreciation)).
• Kalamazoo County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (7.6% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1800 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1800 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 0.97% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

• ARV (median comp): $360,908
• List price: $109,000
• Delta: -69.80%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

7.61% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.56×
• Total profit: $47,713
• Equity at exit: $79,960

10-year hold

• IRR: 20.1%
• Equity multiple: 5.40×
• Total profit: $134,360
• Equity at exit: $156,077

Cash invested: $30,520 (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 49052

• Home prices YoY: 3.7%
• Active inventory: 2
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,057 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$132 /mo · $1,588/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $86

Break-even live

Break-even rent $949

Max offer price $109,000

Occupancy floor 87%

Sensitivity live

Price	-10% $148	-5% $117	+0% $86	+5% $55	+10% $24
Rent	-10% $2	-5% $44	+0% $86	+5% $128	+10% $170
Rate	-1.0pp $141	-0.5pp $114	base $86	+0.5pp $58	+1.0pp $29

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-13
   statusdays on market $109,000 Pending 42 DOM
2. 2026-06-10
   days on market $109,000 Active 41 DOM
3. 2026-06-09
   days on market $109,000 Active 40 DOM
4. 2026-06-08
   days on market $109,000 Active 39 DOM
5. 2026-06-07
   days on market $109,000 Active 38 DOM
6. 2026-06-03
   days on market $109,000 Active 34 DOM
7. 2026-06-02
   days on market $109,000 Active 33 DOM
8. 2026-06-01
   days on market $109,000 Active 32 DOM
9. 2026-05-31
   days on market $109,000 Active 31 DOM
10. 2026-05-30
    days on market $109,000 Active 30 DOM
11. 2026-04-30
    listed $109,000 Active 271-char remark

    Show marketing remark (271 chars)

    2.9-acre country property in Kalamazoo County featuring a 2-bedroom, 1-bath farmhouse. This property includes a large barn and multiple outbuildings, providing ample space for storage or hobby use. The home requires renovation and updates throughout. Property sold as-is.

12. 2026-04-30
    listed $109,000 Active 271-char remark

    Show marketing remark (271 chars)

    2.9-acre country property in Kalamazoo County featuring a 2-bedroom, 1-bath farmhouse. This property includes a large barn and multiple outbuildings, providing ample space for storage or hobby use. The home requires renovation and updates throughout. Property sold as-is.

13. 2026-04-30
    listed $109,000 Active

    Show marketing remark (271 chars)

    2.9-acre country property in Kalamazoo County featuring a 2-bedroom, 1-bath farmhouse. This property includes a large barn and multiple outbuildings, providing ample space for storage or hobby use. The home requires renovation and updates throughout. Property sold as-is.

ⓘ 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: $1,588 · $132/mo
• Projected year-2 tax: $1,633 · $136/mo
• Expected delta: +$45/yr (+$4/mo · 2.8%)

ⓘ 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: $12,689
• − Mortgage interest: −$6,106
• − Property taxes: −$1,588
• − Insurance: −$545
• − Repairs & maintenance: −$1,015
• − Management: −$1,015
• − Depreciation: −$3,171
• Taxable loss: −$751
• Est. tax savings @ 24.0%: +$180
• After-tax cash flow: $1,212/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: Vicksburg Community Schools
• NCES district ID: 2634950
• Math proficiency: 42% ▼ -10.00%
• Reading proficiency: 56% ▼ -4.00%
• Median HH income: $59,299
• Composite: 42.79/100
• National rank: #3146
• State rank: #100 of 540 in MI

Livability — Athens

• Score: 68/100
• State rank: #367
• US rank: #9589

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 1,086

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 (89%)
• Race & ethnicity: White 89% Two or more races 5% Hispanic / Latino 4% Black 3% Native American 2%
• Common ancestry: Slovak 4% Romanian 3% Iranian 3%
• Foreign-born: 0%

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: ▲ 7.61%
• Current HPI: 212.2461
• 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

+0.0% since first listed

6 events — show timeline

• 2026-06-11 Pending — MiRealSource-MiMLS
• 2026-06-11 Pending — REALCOMP
• 2026-06-11 Pending — SW Michigan MLS
• 2026-04-30 Listed $109,000 SW Michigan MLS
• 2026-04-30 Listed $109,000 REALCOMP
• 2026-04-30 Listed $109,000 MiRealSource-MiMLS

Property tax history

+11.4%/yr

Latest (2025): $1,588 · +55.1% YoY. Source: county tax records.