718 W Cedar St · Kalamazoo, MI 49007

$139,900

3 bd · 2.0 ba · 2,148 sqft · SingleFamily public records · 99 Days on market

Built 1901 3,920 sqft lot Est $234k · 40% under ↓ 20% 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 +22.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +6.6/10.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Both units are 2 BR, 1 bath, kitchen and living room. Both rent for $750/mo. Landlord pays all utilities and trash. Brand new shingles on hone 2 weeks ago.

Key facts

• Brand new shingles
• 3,920 sq ft lot
• 2 parking spots

Tags

• BRAND NEW SHINGLES

🏷️ Possibly a rental listed for sale. The $139,900 price doesn't fit this home's estimated sale value (~$234,132) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $230 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $127k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 3.4% 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: Woods Lake Elementarya Magnet Center For The Arts (566 students, 86% FRL); Maple Street Magnet School For The Arts (math 75% / reading 75%, grade A, #8 of 493 statewide, top 3%, 860 students, 59% FRL); Loy Norrix High School (math 47% / reading 82%, grade B-, #46 of 713 statewide, top 7%, 1,771 students, 68% FRL).
• Zoned-school proficiency averages 70% at this address vs 58% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Kalamazoo Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-0.8%/yr); 77 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• At $1,619/mo this rent would consume 49% of the median local household income ($39k/yr) (locally 816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k 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 99 days — a 9% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 18y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $74k; list at $140k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — 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. 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: 1.16% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.05%
• DSCR: 1.31
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $234,132
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
442 W Dutton St	0.27mi	4/2.0 (+1)	1,928 (-10%)	2mo	$249,900	$130	64
435 Skirrow Pl	0.57mi	3/1.0	2,088 (-3%)	8mo	$149,900	$72	59
1209 Grand Ave	0.52mi	4/2.5 (+1)	2,086 (-3%)	8mo	$324,000	$155	57
306 W Dutton St	0.39mi	3/2.0	1,864 (-13%)	4mo	$105,000	$56	57
955 Austin St	0.38mi	3/1.0	1,967 (-8%)	14mo	$144,000	$73	52
1509 Academy St	0.68mi	4/1.5 (+1)	2,128 (-1%)	9mo	$377,500	$177	52
512 Douglas Ave	0.65mi	4/3.0 (+1)	2,166 (+1%)	12mo	$65,000	$30	49
511 Woodward Ave	0.59mi	4/2.0 (+1)	2,352 (+10%)	7mo	$265,000	$113	46
436 W Ransom St	0.66mi	3/2.0	1,884 (-12%)	7mo	$206,000	$109	43
431 Park Pl	0.56mi	4/2.0 (+1)	1,930 (-10%)	14mo	$240,000	$124	41
440 W Ransom St	0.67mi	3/2.0	1,884 (-12%)	10mo	$200,000	$106	40
434 W Ransom St	0.67mi	3/2.0	1,884 (-12%)	11mo	$200,000	$106	39

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.1%
• Equity multiple: 0.68×
• Total profit: $-12,683
• Equity at exit: $20,860

10-year hold

• IRR: -4.6%
• Equity multiple: 0.74×
• Total profit: $-10,204
• Equity at exit: $12,096

Cash invested: $39,172 (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 49007

• Rents YoY: -0.8%
• Active inventory: 77
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,619 high
• Mortgage (P&I): −$734
• Tax from tax record: −$257 /mo · $3,083/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $230

Break-even live

Break-even rent $1,328

Max offer price $139,900

Occupancy floor 81%

Sensitivity live

Price	-10% $309	-5% $270	+0% $230	+5% $191	+10% $151
Rent	-10% $102	-5% $166	+0% $230	+5% $294	+10% $358
Rate	-1.0pp $301	-0.5pp $266	base $230	+0.5pp $194	+1.0pp $157

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	15d	12	0.30mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	22d	1	0.31mi
232 Woodward Ave Unit 5 Kalamazoo, MI	2.0	1.0	1400	$999	$0.71	15d	1	0.39mi
722 W Kalamazoo Ave Unit 2 Kalamazoo, MI	3.0	1.0	1800	$1,600	$0.89	22d	1	0.46mi
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	22d	1	0.53mi
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	15d	2	0.55mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	15d	1	0.56mi

Listing history 48 events

1. 2026-04-14
   status Pending

   Show marketing remark (155 chars)

   Both units are 2 BR, 1 bath, kitchen and living room. Both rent for $750/mo. Landlord pays all utilities and trash. Brand new shingles on hone 2 weeks ago.

2. 2026-04-14
   status Pending 155-char remark

   Show marketing remark (155 chars)

   Both units are 2 BR, 1 bath, kitchen and living room. Both rent for $750/mo. Landlord pays all utilities and trash. Brand new shingles on hone 2 weeks ago.

3. 2026-03-18
   price $139,900 155-char remark

   Show marketing remark (155 chars)

   Both units are 2 BR, 1 bath, kitchen and living room. Both rent for $750/mo. Landlord pays all utilities and trash. Brand new shingles on hone 2 weeks ago.

4. 2026-03-17
   price $139,900
5. 2026-01-20
   status Active

   Show marketing remark (155 chars)

   Both units are 2 BR, 1 bath, kitchen and living room. Both rent for $750/mo. Landlord pays all utilities and trash. Brand new shingles on hone 2 weeks ago.

6. 2026-01-20
   status Active 155-char remark

   Show marketing remark (155 chars)

   Both units are 2 BR, 1 bath, kitchen and living room. Both rent for $750/mo. Landlord pays all utilities and trash. Brand new shingles on hone 2 weeks ago.

7. 2025-12-10
   status Pending

   Show marketing remark (155 chars)

   Both units are 2 BR, 1 bath, kitchen and living room. Both rent for $750/mo. Landlord pays all utilities and trash. Brand new shingles on hone 2 weeks ago.

8. 2025-12-10
   status Pending 155-char remark

   Show marketing remark (155 chars)

   Both units are 2 BR, 1 bath, kitchen and living room. Both rent for $750/mo. Landlord pays all utilities and trash. Brand new shingles on hone 2 weeks ago.

9. 2025-11-25
   listed $159,900 Active
10. 2025-11-24
    listed $159,900 Active 155-char remark

    Show marketing remark (155 chars)

    Both units are 2 BR, 1 bath, kitchen and living room. Both rent for $750/mo. Landlord pays all utilities and trash. Brand new shingles on hone 2 weeks ago.

11. 2025-10-31
    historical
12. 2025-10-31
    historical
13. 2025-04-11
    listed $174,900 Active
14. 2025-04-11
    listed $174,900 Active
15. 2017-12-08
    soldstatus $74,500
16. 2017-12-08
    soldstatus $74,500 Sold
17. 2017-10-24
    status Pending
18. 2017-09-11
    listed $85,000 Active
19. 2017-09-11
    listed $85,000
20. 2017-09-11
    historical
21. 2017-08-04
    historical
22. 2017-08-04
    status Pending
23. 2017-07-28
    status Active
24. 2017-07-19
    status Pending
25. 2017-02-09
    listed $85,000 Active
26. 2017-02-09
    listed $85,000
27. 2017-01-22
    historical
28. 2017-01-21
    historical
29. 2016-07-29
    listed $78,000 Active
30. 2016-07-28
    listed $78,000
31. 2016-06-29
    historical
32. 2016-06-28
    historical
33. 2016-06-06
    status Active
34. 2016-06-02
    historical
35. 2015-12-01
    listed $77,000 Active
36. 2015-12-01
    listed $77,000
37. 2015-11-02
    historical
38. 2015-11-01
    historical
39. 2015-09-05
    listed $99,900 Active
40. 2015-04-28
    listed $99,900
41. 2014-12-10
    historical
42. 2014-12-10
    historical
43. 2014-10-30
    listed $99,900
44. 2014-10-30
    listed $99,900
45. 2014-10-17
    historical
46. 2014-10-17
    historical
47. 2008-09-22
    listed $159,000
48. 2008-05-19
    listed $173,900

ⓘ 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: $3,083 · $257/mo
• Projected year-2 tax: $3,083 · $257/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 3/10 Moderate 7 d/yr ≥100°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: $19,427
• − Mortgage interest: −$7,837
• − Property taxes: −$3,083
• − Insurance: −$700
• − Repairs & maintenance: −$1,554
• − Management: −$1,554
• − Depreciation: −$4,070
• Taxable income: $630
• Est. tax owed @ 24.0%: −$151
• After-tax cash flow: $2,610/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): 9,836
• Household income: $39,344
• Rent vs Own: 75.8% rent · 24.2% own
• Severe rent burden: 816.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 44% Black 44% Two or more races 7% Hispanic / Latino 3%
• Common ancestry: Iranian 3% Romanian 2% Lithuanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% French/Haitian/Cajun 1% Arabic 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: ▼ -68.80%
• Current HPI: 112.4973
• Rent YoY: ▼ -0.85%
• 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

-19.6% since first listed

48 events — show timeline

• 2026-04-14 Pending — REALCOMP
• 2026-04-14 Pending — MiRealSource-MiMLS
• 2026-03-18 Price Changed $139,900 MiRealSource-MiMLS
• 2026-03-17 Price Changed $139,900 REALCOMP
• 2026-01-20 Relisted — REALCOMP
• 2026-01-20 Relisted — MiRealSource-MiMLS
• 2025-12-10 Pending — REALCOMP
• 2025-12-10 Pending — MiRealSource-MiMLS
• 2025-11-25 Listed $159,900 REALCOMP
• 2025-11-24 Listed $159,900 MiRealSource-MiMLS
• 2025-10-31 Listing Removed — REALCOMP
• 2025-10-31 Listing Removed — MiRealSource-MiMLS
• 2025-04-11 Listed $174,900 REALCOMP
• 2025-04-11 Listed $174,900 MiRealSource-MiMLS
• 2017-12-08 Sold (MLS) $74,500 SW Michigan MLS
• 2017-12-08 Sold (MLS) $74,500 REALCOMP
• 2017-10-24 Pending — SW Michigan MLS
• 2017-09-11 Listed $85,000 SW Michigan MLS
• 2017-09-11 Listing Removed — REALCOMP
• 2017-09-11 Listed $85,000 REALCOMP
• 2017-08-04 Listing Removed — SW Michigan MLS
• 2017-08-04 Pending — SW Michigan MLS
• 2017-07-28 Relisted — SW Michigan MLS
• 2017-07-19 Pending — SW Michigan MLS
• 2017-02-09 Listed $85,000 SW Michigan MLS
• 2017-02-09 Listed $85,000 REALCOMP
• 2017-01-22 Listing Removed — SW Michigan MLS
• 2017-01-21 Listing Removed — REALCOMP
• 2016-07-29 Listed $78,000 SW Michigan MLS
• 2016-07-28 Listed $78,000 REALCOMP
• 2016-06-29 Listing Removed — SW Michigan MLS
• 2016-06-28 Listing Removed — REALCOMP
• 2016-06-06 Relisted — SW Michigan MLS
• 2016-06-02 Listing Removed — SW Michigan MLS
• 2015-12-01 Listed $77,000 SW Michigan MLS
• 2015-12-01 Listed $77,000 REALCOMP
• 2015-11-02 Listing Removed — SW Michigan MLS
• 2015-11-01 Listing Removed — REALCOMP
• 2015-09-05 Listed $99,900 SW Michigan MLS
• 2015-04-28 Listed $99,900 REALCOMP
• 2014-12-10 Listing Removed — SW Michigan MLS
• 2014-12-10 Listing Removed — REALCOMP
• 2014-10-30 Listed $99,900 SW Michigan MLS
• 2014-10-30 Listed $99,900 REALCOMP
• 2014-10-17 Listing Removed — SW Michigan MLS
• 2014-10-17 Listing Removed — SW Michigan MLS
• 2008-09-22 Listed $159,000 SW Michigan MLS
• 2008-05-19 Listed $173,900 SW Michigan MLS

Property tax history

+3.7%/yr

Latest (2025): $3,083 · -13.0% YoY. Source: county tax records.