1208 Princeton Ave · Kalamazoo, MI 49007

$100,000

3 bd · 2.0 ba · 1,496 sqft · SingleFamily public records · 25 Days on market

Built 1905 3,920 sqft lot Est $130k · 23% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Get a cashflow property that is currently city certified to start or expand to your current rental portfolio. Two 2 Bed, 1 Bath units with the downstairs being slightly larger. Tenants can be in place before purchase. Priced to go quick - owner open to land contract to qualified borrowers. Call 269.205.8612 to schedule a showing or to ask questions!

Key facts

• 3,920 sq ft lot
• Built 1905
• Listed 25 days

Property features AI

Finance

• Other: Property size listed as 1,496 total square feet; Lot approximately 3,920 sq ft (33 x 115.5)
• Financial info: Unit rents: one 2-bedroom @ $950; one 1-bedroom @ $800

Exterior

• Parking: No on-site parking listed
• Utilities: Public water; Public sewer (sewer connected/available); Electricity connected; Natural gas connected
• Home design: Multi-family residential income property; Located in Fletchers Addition; near Paterson & Norway
• Construction: Aluminum siding; Composition roof
• Exterior features: Public maintained road; Sidewalks

Interior

• Bedrooms: Two 2-bedroom units; One 1-bedroom unit
• Bathrooms: Two units with 1 bathroom each
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Has basement with crawl space; Main-level laundry
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 soft (-0.8%/yr); 77 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $1,579/mo this rent would consume 48% 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 $691 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 3y 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 $40k; list at $100k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.58% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.08%
• DSCR: 1.80
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $130,152
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
410 W Paterson St	0.06mi	3/2.0	1,486 (-1%)	1mo	$129,900	$87	96
302 W Frank St	0.28mi	3/1.5	1,465 (-2%)	0mo	$176,000	$120	81
1005 N Park St	0.13mi	4/1.5 (+1)	1,587 (+6%)	2mo	$131,500	$83	75
1018 N Rose St	0.22mi	4/2.0 (+1)	1,398 (-7%)	2mo	$135,000	$97	73
1328 Krom St	0.35mi	4/2.0 (+1)	1,550 (+4%)	2mo	$145,900	$94	71
608 W Ransom St	0.44mi	3/1.0	1,464 (-2%)	8mo	$111,900	$76	65
731 Mabel St	0.34mi	4/1.5 (+1)	1,386 (-7%)	1mo	$63,000	$45	64
1349 Krom St	0.34mi	4/1.5 (+1)	1,612 (+8%)	1mo	$125,000	$78	64
116 Martin St	0.45mi	4/2.0 (+1)	1,440 (-4%)	7mo	$190,000	$132	62
1206 Summit Ave	0.71mi	3/1.5	1,500 (+0%)	7mo	$113,800	$76	58
1010 Cobb Ave	0.33mi	4/1.0 (+1)	1,331 (-11%)	9mo	$167,000	$125	49
816 Stuart Ave	0.53mi	3/1.0	1,716 (+15%)	0mo	$145,000	$84	46

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: 5.9%
• Equity multiple: 1.22×
• Total profit: $6,137
• Equity at exit: $14,910

10-year hold

• IRR: 12.0%
• Equity multiple: 1.80×
• Total profit: $22,482
• Equity at exit: $8,646

Cash invested: $28,000 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,579 high
• Mortgage (P&I): −$524
• Tax from tax record: −$260 /mo · $3,117/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $422

Break-even live

Break-even rent $1,045

Max offer price $100,000

Occupancy floor 68%

Sensitivity live

Price	-10% $478	-5% $450	+0% $422	+5% $393	+10% $365
Rent	-10% $297	-5% $359	+0% $422	+5% $484	+10% $547
Rate	-1.0pp $472	-0.5pp $447	base $422	+0.5pp $396	+1.0pp $369

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
708 Elizabeth St Kalamazoo, MI	3.0	1.5	1128	$1,250	$1.11	14d	1	0.27mi
815 N Pitcher St Unit 12 Kalamazoo, MI	2.0	2.0	982	$1,550	$1.58	22d	1	0.54mi
722 W Kalamazoo Ave Unit 2 Kalamazoo, MI	3.0	1.0	1800	$1,600	$0.89	22d	1	0.63mi
2004 Woodward Ave Kalamazoo, MI	4.0	2.0	1710	$1,500	$0.88	14d	1	0.65mi
232 Woodward Ave Unit 5 Kalamazoo, MI	2.0	1.0	1400	$999	$0.71	14d	1	0.75mi
525 E Ransom St Kalamazoo, MI	1.0–2.0	1.0–2.0	807	$1,625	$2.01	22d	1	0.76mi
816 W Main St Kalamazoo, MI	3.0	1.0	1005	$1,100	$1.09	22d	1	0.82mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	22d	1	0.84mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	22d	1	0.87mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	14d	1	0.88mi
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	14d	2	1.18mi
2420 Upper Riverview Dr Kalamazoo, MI	3.0	1.0	925	$1,300	$1.41	22d	1	1.31mi
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	14d	12	1.31mi
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	22d	1	1.41mi
1403 Sherwood Ave Unit 2 Kalamazoo, MI	2.0	1.0	900	$1,000	$1.11	22d	1	1.41mi

Listing history 50 events

1. 2026-05-03
   status Pending

   Show marketing remark (351 chars)

   Get a cashflow property that is currently city certified to start or expand to your current rental portfolio. Two 2 Bed, 1 Bath units with the downstairs being slightly larger. Tenants can be in place before purchase. Priced to go quick - owner open to land contract to qualified borrowers. Call 269.205.8612 to schedule a showing or to ask questions!

2. 2026-05-03
   status Pending 351-char remark

   Show marketing remark (351 chars)

   Get a cashflow property that is currently city certified to start or expand to your current rental portfolio. Two 2 Bed, 1 Bath units with the downstairs being slightly larger. Tenants can be in place before purchase. Priced to go quick - owner open to land contract to qualified borrowers. Call 269.205.8612 to schedule a showing or to ask questions!

3. 2026-04-08
   listed $100,000 Active
4. 2026-04-07
   listed $100,000 Active 351-char remark

   Show marketing remark (351 chars)

   Get a cashflow property that is currently city certified to start or expand to your current rental portfolio. Two 2 Bed, 1 Bath units with the downstairs being slightly larger. Tenants can be in place before purchase. Priced to go quick - owner open to land contract to qualified borrowers. Call 269.205.8612 to schedule a showing or to ask questions!

5. 2026-03-31
   status Pending
6. 2026-03-27
   historical
7. 2026-01-29
   status Pending
8. 2026-01-29
   status Pending
9. 2026-01-10
   historical
10. 2026-01-09
    historical
11. 2026-01-09
    historical
12. 2025-12-14
    historical Active Under Contract
13. 2025-12-14
    historical Keep Showing-Contgcy Appl
14. 2025-12-13
    historical
15. 2025-10-16
    listed $120,000 Active
16. 2025-10-16
    listed $120,000 Active
17. 2025-10-01
    historical
18. 2025-09-10
    status Active
19. 2025-09-10
    status Active
20. 2025-08-18
    status Pending
21. 2025-08-18
    status Pending
22. 2025-08-18
    historical
23. 2025-08-06
    status Active
24. 2025-08-06
    status Active
25. 2025-07-29
    status Pending
26. 2025-07-29
    status Pending
27. 2025-07-09
    listed $140,000 Active
28. 2025-07-08
    listed $140,000 Active
29. 2025-04-01
    historical
30. 2025-03-31
    historical
31. 2025-02-18
    listed $125,000 Active
32. 2025-02-18
    listed $125,000 Active
33. 2023-08-23
    soldstatus $40,000 Sold
34. 2023-08-23
    soldstatus $40,000 Closed
35. 2023-08-23
    soldstatus $40,000 Sold
36. 2023-08-17
    status Active
37. 2023-08-17
    status Active
38. 2023-08-17
    status Active
39. 2023-08-09
    status Pending
40. 2023-08-09
    status Pending
41. 2023-08-09
    status Pending
42. 2023-08-01
    price $49,900
43. 2023-07-31
    price $49,900
44. 2023-07-31
    price $49,900
45. 2023-07-04
    price $59,900
46. 2023-07-03
    price $59,900
47. 2023-07-03
    price $59,900
48. 2023-04-11
    price $64,900
49. 2023-04-10
    price $64,900
50. 2023-04-10
    price $64,900

ⓘ 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: $3,117 · $260/mo
• Projected year-2 tax: $3,117 · $260/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: $18,951
• − Mortgage interest: −$5,602
• − Property taxes: −$3,117
• − Insurance: −$500
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$2,909
• Taxable income: $3,791
• Est. tax owed @ 24.0%: −$910
• After-tax cash flow: $4,151/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

+233.3% since first listed

54 events — show timeline

• 2026-05-03 Pending — REALCOMP
• 2026-05-03 Pending — MiRealSource-MiMLS
• 2026-04-08 Listed $100,000 REALCOMP
• 2026-04-07 Listed $100,000 MiRealSource-MiMLS
• 2026-03-31 Pending — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2026-01-29 Pending — REALCOMP
• 2026-01-29 Pending — MiRealSource-MiMLS
• 2026-01-10 Listing Removed — MiRealSource-MiMLS
• 2026-01-09 Listing Removed — REALCOMP
• 2026-01-09 Listing Removed — REALCOMP
• 2025-12-14 Contingent — REALCOMP
• 2025-12-14 Contingent — MiRealSource-MiMLS
• 2025-12-13 Listing Removed — MiRealSource-MiMLS
• 2025-10-16 Listed $120,000 MiRealSource-MiMLS
• 2025-10-16 Listed $120,000 REALCOMP
• 2025-10-01 Listing Removed — MiRealSource-MiMLS
• 2025-09-10 Relisted — REALCOMP
• 2025-09-10 Relisted — MiRealSource-MiMLS
• 2025-08-18 Pending — REALCOMP
• 2025-08-18 Pending — MiRealSource-MiMLS
• 2025-08-18 Listing Removed — REALCOMP
• 2025-08-06 Relisted — MiRealSource-MiMLS
• 2025-08-06 Relisted — REALCOMP
• 2025-07-29 Pending — MiRealSource-MiMLS
• 2025-07-29 Pending — REALCOMP
• 2025-07-09 Listed $140,000 REALCOMP
• 2025-07-08 Listed $140,000 MiRealSource-MiMLS
• 2025-04-01 Listing Removed — MiRealSource-MiMLS
• 2025-03-31 Listing Removed — REALCOMP
• 2025-02-18 Listed $125,000 REALCOMP
• 2025-02-18 Listed $125,000 MiRealSource-MiMLS
• 2023-08-23 Sold (MLS) $40,000 SW Michigan MLS
• 2023-08-23 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2023-08-23 Sold (MLS) $40,000 REALCOMP
• 2023-08-17 Relisted — REALCOMP
• 2023-08-17 Relisted — MiRealSource-MiMLS
• 2023-08-17 Relisted — SW Michigan MLS
• 2023-08-09 Pending — REALCOMP
• 2023-08-09 Pending — MiRealSource-MiMLS
• 2023-08-09 Pending — SW Michigan MLS
• 2023-08-01 Price Changed $49,900 MiRealSource-MiMLS
• 2023-07-31 Price Changed $49,900 REALCOMP
• 2023-07-31 Price Changed $49,900 SW Michigan MLS
• 2023-07-04 Price Changed $59,900 MiRealSource-MiMLS
• 2023-07-03 Price Changed $59,900 REALCOMP
• 2023-07-03 Price Changed $59,900 SW Michigan MLS
• 2023-04-11 Price Changed $64,900 MiRealSource-MiMLS
• 2023-04-10 Price Changed $64,900 REALCOMP
• 2023-04-10 Price Changed $64,900 SW Michigan MLS
• 2023-02-08 Listed $79,900 SW Michigan MLS
• 2023-02-08 Listed $79,900 MiRealSource-MiMLS
• 2023-02-08 Listed $79,900 REALCOMP
• 2013-10-16 Sold (Public Records) $30,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $3,117 · +14.7% YoY. Source: county tax records.