606 Lynn Ave #1 · Kalamazoo, MI 49008

$89,900

1 bd · 1.0 ba · 677 sqft · Condo public records · 93 Days on market

Built 1967

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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 +10.9/30.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• DSCR +3.2/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this well-maintained and nicely updated 1-bedroom, 1-bath end-unit condo offering nearly 700 square feet of comfortable living space. This bright and inviting unit features recent updates that make it truly move-in ready. Enjoy the added privacy of an end unit along with convenient parking and a dedicated basement storage unit for extra space. Laundry is easy with washer and dryer facilities available on site. Located in the desirable Lynn Terrace Condominiums, this condo offers a convenient location close to both Kalamazoo and Portage, with easy access to shopping, dining, and everyday amenities. A great opportunity for low-maintenance living in a central location!

Key facts

• End unit
• Convenient location
• Garage

Tags

• END UNIT
• DEDICATED BASEMENT STORAGE
• WASHER AND DRYER FACILITIES
• CONVENIENT LOCATION
• LOW MAINTENANCE LIVING

Property features AI

Exterior

• Parking: Detached garage (1 space)
• Home design: Condominium (residential); Other architectural style; Built in 1967
• Construction: Brick and vinyl siding construction
• Exterior features: Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Hot water heating
• Interior features: Total of 4 rooms; Basement (other type)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $-40 ($-476/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($970 rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.8% 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 (+2.4%/yr); 116 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent is only 16% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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.

Negotiation context

• It's been on market 93 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y 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 $48k; list at $90k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $81,809 (9.0% 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. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.08% ✓
• Cap rate: 5.76%
• Cash-on-cash: -1.89%
• DSCR: 0.92
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -20.1%
• Equity multiple: 0.30×
• Total profit: $-17,539
• Equity at exit: $13,404

10-year hold

• IRR: -14.5%
• Equity multiple: 0.19×
• Total profit: $-20,328
• Equity at exit: $7,773

Cash invested: $25,172 (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 49008

• Rents YoY: 2.4%
• Active inventory: 116
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $970 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$125 /mo · $1,505/yr
• Insurance: −$37
• HOA est. from 5 same-building comps: −$172
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $-40

Break-even live

Break-even rent $1,021

Max offer price $82,890

Occupancy floor 99%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
729 Buchanan Ave Unit 1 Kalamazoo, MI	1.0	1.0	525	$800	$1.52	13d	1	0.26mi
750 Pleasant Ave Unit 307 Kalamazoo, MI	2.0	1.0	650	$1,100	$1.69	20d	1	0.44mi
750 Pleasant Ave Unit 102 Kalamazoo, MI	1.0	1.0	500	$925	$1.85	20d	1	0.44mi
100 E Candlewyck Dr Kalamazoo, MI	1.0–4.0	1.0–2.0	1129	$907	$0.80	13d	38	0.86mi
2321 Hazel Ave Kalamazoo, MI	2.0	1.0	698	$1,225	$1.76	20d	1	1.40mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $89,900 Active 93 DOM
2. 2026-06-17
   days on market $89,900 Active 92 DOM
3. 2026-06-16
   days on market $89,900 Active 91 DOM
4. 2026-06-15
   days on market $89,900 Active 90 DOM
5. 2026-06-14
   days on market $89,900 Active 88 DOM
6. 2026-06-13
   days on market $89,900 Active 87 DOM
7. 2026-06-10
   days on market $89,900 Active 85 DOM
8. 2026-06-09
   days on market $89,900 Active 84 DOM
9. 2026-06-08
   days on market $89,900 Active 83 DOM
10. 2026-06-07
    days on market $89,900 Active 82 DOM
11. 2026-06-05
    days on market $89,900 Active 79 DOM
12. 2026-06-03
    days on market $89,900 Active 78 DOM
13. 2026-06-02
    days on market $89,900 Active 77 DOM
14. 2026-06-01
    days on market $89,900 Active 76 DOM
15. 2026-05-31
    days on market $89,900 Active 75 DOM
16. 2026-05-30
    days on market $89,900 Active 74 DOM
17. 2026-03-17
    listed $89,900 Active 690-char remark

    Show marketing remark (690 chars)

    Welcome home to this well-maintained and nicely updated 1-bedroom, 1-bath end-unit condo offering nearly 700 square feet of comfortable living space. This bright and inviting unit features recent updates that make it truly move-in ready. Enjoy the added privacy of an end unit along with convenient parking and a dedicated basement storage unit for extra space. Laundry is easy with washer and dryer facilities available on site. Located in the desirable Lynn Terrace Condominiums, this condo offers a convenient location close to both Kalamazoo and Portage, with easy access to shopping, dining, and everyday amenities. A great opportunity for low-maintenance living in a central location!

18. 2026-03-17
    listed $89,900 Active

    Show marketing remark (690 chars)

    Welcome home to this well-maintained and nicely updated 1-bedroom, 1-bath end-unit condo offering nearly 700 square feet of comfortable living space. This bright and inviting unit features recent updates that make it truly move-in ready. Enjoy the added privacy of an end unit along with convenient parking and a dedicated basement storage unit for extra space. Laundry is easy with washer and dryer facilities available on site. Located in the desirable Lynn Terrace Condominiums, this condo offers a convenient location close to both Kalamazoo and Portage, with easy access to shopping, dining, and everyday amenities. A great opportunity for low-maintenance living in a central location!

19. 2026-03-17
    listed $89,900 Active 690-char remark

    Show marketing remark (690 chars)

    Welcome home to this well-maintained and nicely updated 1-bedroom, 1-bath end-unit condo offering nearly 700 square feet of comfortable living space. This bright and inviting unit features recent updates that make it truly move-in ready. Enjoy the added privacy of an end unit along with convenient parking and a dedicated basement storage unit for extra space. Laundry is easy with washer and dryer facilities available on site. Located in the desirable Lynn Terrace Condominiums, this condo offers a convenient location close to both Kalamazoo and Portage, with easy access to shopping, dining, and everyday amenities. A great opportunity for low-maintenance living in a central location!

20. 2013-08-16
    historical
21. 2013-08-16
    historical
22. 2013-04-24
    listed $19,000
23. 2013-04-24
    listed $19,000
24. 2001-10-03
    soldstatus $47,900
25. 2001-10-03
    soldstatus $47,900
26. 2001-04-12
    listed $42,900
27. 2001-04-12
    listed $42,900

ⓘ 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: $1,505 · $125/mo
• Projected year-2 tax: $1,505 · $125/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $11,646
• − Mortgage interest: −$5,036
• − Property taxes: −$1,505
• − Insurance: −$450
• − Repairs & maintenance: −$932
• − Management: −$932
• − HOA: −$2,064
• − Depreciation: −$2,615
• Taxable loss: −$1,888
• Est. tax savings @ 24.0%: +$453
• After-tax cash flow: $-23/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): 16,137
• Household income: $74,943
• Rent vs Own: 33.8% rent · 66.2% own
• Severe rent burden: 513.0

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 (75%)
• Race & ethnicity: White 75% Black 12% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Iranian 5% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -170.52%
• Current HPI: 230.6876
• Rent YoY: ▲ 2.41%
• 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

+109.6% since first listed

11 events — show timeline

• 2026-03-17 Listed $89,900 REALCOMP
• 2026-03-17 Listed $89,900 MiRealSource-MiMLS
• 2026-03-17 Listed $89,900 SW Michigan MLS
• 2013-08-16 Listing Removed — SW Michigan MLS
• 2013-08-16 Listing Removed — REALCOMP
• 2013-04-24 Listed $19,000 SW Michigan MLS
• 2013-04-24 Listed $19,000 REALCOMP
• 2001-10-03 Sold (MLS) $47,900 REALCOMP
• 2001-10-03 Sold (MLS) $47,900 SW Michigan MLS
• 2001-04-12 Listed $42,900 REALCOMP
• 2001-04-12 Listed $42,900 SW Michigan MLS

Property tax history

+9.2%/yr

Latest (2025): $1,505 · +3.0% YoY. Source: county tax records.