832 E Main St · Benton Harbor, MI 49022

$140,900

4 bd · 2.5 ba · 2,764 sqft · SingleFamily · 57 Days on market

Built 1932 Good condition 6,098 sqft lot $51/sqft · at area comps Est $141k · at est. ↓ 28% since listing

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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 +22.6/30.0
• ARV discount +7.6/15.0
• DSCR +7.2/10.0
• 1% rule +5.9/10.0
• Condition / age +3.8/5.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious and full of potential, this 4-bedroom, 3-bath home offers comfort, functionality, and a convenient Main Street location in Benton Harbor. Inside, you’ll find a well-designed layout with a main floor primary suite, main floor laundry, and plenty of room to spread out. A flexible bonus space at the back of the home is perfect for a home office, hobby room, playroom, or extra living area. Conveniently located near local amenities, this property combines size, versatility, and everyday convenience.

Key facts

• Flexible bonus space
• Main street location
• Main floor laundry

Tags

• MAIN STREET LOCATION
• MAIN FLOOR PRIMARY SUITE
• MAIN FLOOR LAUNDRY
• FLEXIBLE BONUS SPACE
• HOME OFFICE

Property features AI

Finance

• Other: Located in the Benton Harbor Improvement Association subdivision; Cross streets: Oden St and N Seeley St
• Financial info: Annual tax listed
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Vinyl siding construction
• Exterior features: Lot is about 0.14 acres (approx. 6,301 sq ft); No pool

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling listed
• Interior features: 5 total rooms; Finished above-grade living area approximately 2,764; Basement present

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $141k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $141k).
• Recommended offer: $137k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#671 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools F, crime F, amenities F.
• Benton Harbor Area Schools (urban): math 4% / reading 7% proficiency, ranked #732 of 760 in MI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 179 active listings in the ZIP; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $974 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Berrien County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $24k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,673 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1932 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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. 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.
7. 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.
8. 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: 1.09% ✓
• Cap rate: 8.33%
• Cash-on-cash: 7.28%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

• ARV (median comp): $141,181
• List price: $140,900
• Delta: -0.20%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
490 Territorial Rd	0.43mi	5/2.0 (+1)	3,055 (+10%)	2mo	$215,000	$70	54

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-7,555
• Equity at exit: $21,009

10-year hold

• IRR: 4.5%
• Equity multiple: 1.33×
• Total profit: $13,157
• Equity at exit: $12,182

Cash invested: $39,452 (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 49022

• Active inventory: 179
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,536 medium
• Mortgage (P&I): −$739
• Tax est. 1.5%: −$176 /mo · $2,114/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $239

Break-even live

Break-even rent $1,233

Max offer price $140,900

Occupancy floor 79%

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: $35,225
• Closing costs: $4,227
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-19
   days on market $140,900 Active 57 DOM
2. 2026-06-18
   days on market $140,900 Active 56 DOM
3. 2026-06-17
   days on market $140,900 Active 55 DOM
4. 2026-06-16
   days on market $140,900 Active 54 DOM
5. 2026-06-15
   price $140,900 Active 53 DOM

   Show marketing remark (514 chars)

   Spacious and full of potential, this 4-bedroom, 3-bath home offers comfort, functionality, and a convenient Main Street location in Benton Harbor. Inside, you’ll find a well-designed layout with a main floor primary suite, main floor laundry, and plenty of room to spread out. A flexible bonus space at the back of the home is perfect for a home office, hobby room, playroom, or extra living area. Conveniently located near local amenities, this property combines size, versatility, and everyday convenience.

6. 2026-06-15
   days on market $149,900 Active 53 DOM

   Show marketing remark (514 chars)

   Spacious and full of potential, this 4-bedroom, 3-bath home offers comfort, functionality, and a convenient Main Street location in Benton Harbor. Inside, you’ll find a well-designed layout with a main floor primary suite, main floor laundry, and plenty of room to spread out. A flexible bonus space at the back of the home is perfect for a home office, hobby room, playroom, or extra living area. Conveniently located near local amenities, this property combines size, versatility, and everyday convenience.

7. 2026-06-14
   days on market $149,900 Active 51 DOM
8. 2026-06-13
   days on market $149,900 Active 50 DOM
9. 2026-06-10
   days on market $149,900 Active 48 DOM
10. 2026-06-09
    days on market $149,900 Active 47 DOM
11. 2026-06-08
    days on market $149,900 Active 46 DOM
12. 2026-06-07
    pricedays on market $149,900 Active 45 DOM
13. 2026-06-03
    days on market $159,000 Active 41 DOM
14. 2026-06-02
    days on market $159,000 Active 40 DOM
15. 2026-06-01
    days on market $159,000 Active 39 DOM
16. 2026-05-31
    days on market $159,000 Active 38 DOM
17. 2026-05-30
    days on market $159,000 Active 37 DOM
18. 2026-04-23
    listed $165,000 Active 508-char remark

    Show marketing remark (514 chars)

    Spacious and full of potential, this 4-bedroom, 3-bath home offers comfort, functionality, and a convenient Main Street location in Benton Harbor. Inside, you’ll find a well-designed layout with a main floor primary suite, main floor laundry, and plenty of room to spread out. A flexible bonus space at the back of the home is perfect for a home office, hobby room, playroom, or extra living area. Conveniently located near local amenities, this property combines size, versatility, and everyday convenience.

19. 2026-04-23
    listed $165,000 Active 514-char remark

    Show marketing remark (514 chars)

    Spacious and full of potential, this 4-bedroom, 3-bath home offers comfort, functionality, and a convenient Main Street location in Benton Harbor. Inside, you’ll find a well-designed layout with a main floor primary suite, main floor laundry, and plenty of room to spread out. A flexible bonus space at the back of the home is perfect for a home office, hobby room, playroom, or extra living area. Conveniently located near local amenities, this property combines size, versatility, and everyday convenience.

20. 2025-09-21
    historical
21. 2025-09-20
    historical
22. 2025-07-31
    price $177,000
23. 2025-07-30
    price $177,000
24. 2025-07-30
    price $177,000
25. 2025-06-06
    status Active
26. 2025-06-06
    status Active
27. 2025-05-26
    historical Accepting Backup Offers
28. 2025-05-26
    historical Active Under Contract
29. 2025-04-14
    price $180,000
30. 2025-04-14
    price $180,000
31. 2025-04-14
    price $180,000
32. 2025-03-26
    listed $197,000 Active
33. 2025-03-26
    listed $197,000 Active

ⓘ 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: $18,429
• − Mortgage interest: −$7,893
• − Property taxes: −$2,114
• − Insurance: −$704
• − Repairs & maintenance: −$1,474
• − Management: −$1,474
• − Depreciation: −$4,099
• Taxable income: $671
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $2,713/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.

Condition & rehab AI · 13 photos

Good 75/100 Cosmetic rehab

This 4-bedroom, 3-bath home in Benton Harbor offers a good condition with fresh paint and updated bathrooms. It's located on Main Street, making it convenient for everyday use.

Value-add opportunities

• Resale paint exterior — Fresh paint enhances curb appeal
• Both update landscaping — Landscaping can improve both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — Fresh paint enhances curb appeal ↑
• Both update landscaping — Landscaping can improve both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Benton Harbor Area Schools
• NCES district ID: 2604830
• Math proficiency: 4% ▬ 0.00%
• Reading proficiency: 7% ▬ 0.00%
• Median HH income: $27,038
• Composite: 7.53/100
• National rank: #14787
• State rank: #732 of 760 in MI

Livability — Benton Harbor

• Score: 55/100
• State rank: #671
• US rank: #23724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benton Harbor, MI
• Population (ZIP): 29,796

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 50% White 37% Hispanic / Latino 7% Two or more races 6% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -309.81%
• Current HPI: 209.9723
• 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

-28.5% since first listed

22 events — show timeline

• 2026-06-15 Price Changed $140,900 MiRealSource-MiMLS
• 2026-06-15 Price Changed $140,900 REALCOMP
• 2026-06-04 Price Changed $149,900 MiRealSource-MiMLS
• 2026-06-03 Price Changed $149,900 REALCOMP
• 2026-05-20 Price Changed $159,000 MiRealSource-MiMLS
• 2026-05-20 Price Changed $159,000 REALCOMP
• 2026-04-23 Listed $165,000 REALCOMP
• 2026-04-23 Listed $165,000 MiRealSource-MiMLS
• 2025-09-21 Listing Removed — MiRealSource-MiMLS
• 2025-09-20 Listing Removed — REALCOMP
• 2025-07-31 Price Changed $177,000 MiRealSource-MiMLS
• 2025-07-30 Price Changed $177,000 REALCOMP
• 2025-07-30 Price Changed $177,000 SW Michigan MLS
• 2025-06-06 Relisted — MiRealSource-MiMLS
• 2025-06-06 Relisted — REALCOMP
• 2025-05-26 Contingent — MiRealSource-MiMLS
• 2025-05-26 Contingent — REALCOMP
• 2025-04-14 Price Changed $180,000 MiRealSource-MiMLS
• 2025-04-14 Price Changed $180,000 REALCOMP
• 2025-04-14 Price Changed $180,000 SW Michigan MLS
• 2025-03-26 Listed $197,000 REALCOMP
• 2025-03-26 Listed $197,000 MiRealSource-MiMLS