608 Pickard St · Eastwood, MI 49048

$79,900

2 bd · 1.0 ba · 804 sqft · SingleFamily public records · 6 Days on market

Built 1948 9,583 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bed / 1 bath, 804 sq ft home on a . 22-acre lot in Comstock Township. Features a full basement and pole barn -- perfect for storage or a workshop. Great value-add opportunity for investors or flippers, with strong rental or resale potential.

Key facts

• Pole barn
• Full basement
• Storage or workshop

Tags

• FULL BASEMENT
• POLE BARN
• STORAGE OR WORKSHOP
• VALUE-ADD OPPORTUNITY
• STRONG RENTAL POTENTIAL
• STRONG RESALE POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 11.3% vs local median 5.4% in Eastwood — 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 74/100 on livability (#187 in MI, #4,713 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, employment D+.
• Comstock Public Schools (suburban): math 18% / reading 32% proficiency, ranked #428 of 540 in MI (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.9%/yr); 155 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k 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 + 7.9% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 13y 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 $15k; list at $80k implies a 433% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.39% ✓
• Cap rate: 11.29%
• Cash-on-cash: 17.86%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $173,664
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5503 Comstock Ave	0.70mi	2/1.0	816 (+2%)	7mo	$185,000	$227	59
330 Rystock St	0.69mi	2/1.0	840 (+4%)	17mo	$155,000	$185	46
100 Packard St	0.66mi	2/1.0	751 (-7%)	15mo	$162,000	$216	45

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 · 7.88% rent growth · sell at horizon

5-year hold

• IRR: 14.8%
• Equity multiple: 1.63×
• Total profit: $14,015
• Equity at exit: $11,913

10-year hold

• IRR: 26.9%
• Equity multiple: 3.93×
• Total profit: $65,626
• Equity at exit: $6,908

Cash invested: $22,372 (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 49048

• Rents YoY: 7.9%
• Active inventory: 155
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,114 high
• Mortgage (P&I): −$419
• Tax from tax record: −$95 /mo · $1,137/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $333

Break-even live

Break-even rent $692

Max offer price $79,900

Occupancy floor 65%

Sensitivity live

Price	-10% $378	-5% $356	+0% $333	+5% $310	+10% $288
Rent	-10% $245	-5% $289	+0% $333	+5% $377	+10% $421
Rate	-1.0pp $373	-0.5pp $353	base $333	+0.5pp $312	+1.0pp $291

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6133 King Hwy Unit B Kalamazoo, MI	2.0	1.0	650	$999	$1.54	14d	1	0.89mi
6314 E Jk Ave Kalamazoo, MI	2.0	1.0	760	$950	$1.25	22d	1	0.94mi
6225 Copeland Ave Unit b Kalamazoo, MI	1.0	1.0	580	$899	$1.55	22d	1	0.95mi
6225 Copeland Ave Unit 1 Kalamazoo, MI	1.0	1.0	580	$875	$1.51	14d	1	0.95mi
621 Washburn Ave Kalamazoo, MI	2.0	1.0	720	$1,300	$1.81	22d	1	1.38mi
2024 Sunnyside Dr Kalamazoo, MI	1.0–2.0	1.0	740	$1,000	$1.35	14d	1	1.48mi
1926 Sunnyside Dr Kalamazoo, MI	2.0	1.5	1020	$1,200	$1.18	22d	1	1.49mi

Listing history 14 events

1. 2026-02-25
   status Pending 243-char remark

   Show marketing remark (243 chars)

   2 bed / 1 bath, 804 sq ft home on a . 22-acre lot in Comstock Township. Features a full basement and pole barn -- perfect for storage or a workshop. Great value-add opportunity for investors or flippers, with strong rental or resale potential.

2. 2026-02-25
   status Pending 243-char remark

   Show marketing remark (243 chars)

   2 bed / 1 bath, 804 sq ft home on a . 22-acre lot in Comstock Township. Features a full basement and pole barn -- perfect for storage or a workshop. Great value-add opportunity for investors or flippers, with strong rental or resale potential.

3. 2026-02-25
   status Pending

   Show marketing remark (243 chars)

   2 bed / 1 bath, 804 sq ft home on a . 22-acre lot in Comstock Township. Features a full basement and pole barn -- perfect for storage or a workshop. Great value-add opportunity for investors or flippers, with strong rental or resale potential.

4. 2026-02-19
   listed $79,900 Active 243-char remark

   Show marketing remark (243 chars)

   2 bed / 1 bath, 804 sq ft home on a . 22-acre lot in Comstock Township. Features a full basement and pole barn -- perfect for storage or a workshop. Great value-add opportunity for investors or flippers, with strong rental or resale potential.

5. 2026-02-19
   listed $79,900 Active 243-char remark

   Show marketing remark (243 chars)

   2 bed / 1 bath, 804 sq ft home on a . 22-acre lot in Comstock Township. Features a full basement and pole barn -- perfect for storage or a workshop. Great value-add opportunity for investors or flippers, with strong rental or resale potential.

6. 2026-02-19
   listed $79,900 Active

   Show marketing remark (243 chars)

   2 bed / 1 bath, 804 sq ft home on a . 22-acre lot in Comstock Township. Features a full basement and pole barn -- perfect for storage or a workshop. Great value-add opportunity for investors or flippers, with strong rental or resale potential.

7. 2014-01-07
   soldstatus $15,000
8. 2014-01-07
   soldstatus $15,000
9. 2013-10-15
   listed $18,400
10. 2013-10-15
    listed $18,400
11. 2013-10-15
    listed $21,400
12. 2013-10-15
    historical
13. 2013-10-15
    historical
14. 2013-10-15
    listed $21,400

ⓘ 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: $1,137 · $95/mo
• Projected year-2 tax: $1,184 · $99/mo
• Expected delta: +$47/yr (+$4/mo · 4.1%)

ⓘ 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: $13,368
• − Mortgage interest: −$4,476
• − Property taxes: −$1,137
• − Insurance: −$400
• − Repairs & maintenance: −$1,069
• − Management: −$1,069
• − Depreciation: −$2,324
• Taxable income: $2,893
• Est. tax owed @ 24.0%: −$694
• After-tax cash flow: $3,302/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: Comstock Public Schools
• NCES district ID: 2610590
• Math proficiency: 18% ▼ -2.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $41,293
• Composite: 21.17/100
• National rank: #8423
• State rank: #428 of 540 in MI

Livability — Eastwood

• Score: 74/100
• State rank: #187
• US rank: #4713

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kalamazoo County · 224,317 people
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 22,791
• Household income: $60,454
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 835.0

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 (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 6% Romanian 4% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 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: ▼ -205.26%
• Current HPI: 180.4766
• Rent YoY: ▲ 7.88%
• 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

+334.2% since first listed

14 events — show timeline

• 2026-02-25 Pending — REALCOMP
• 2026-02-25 Pending — MiRealSource-MiMLS
• 2026-02-25 Pending — SW Michigan MLS
• 2026-02-19 Listed $79,900 SW Michigan MLS
• 2026-02-19 Listed $79,900 MiRealSource-MiMLS
• 2026-02-19 Listed $79,900 REALCOMP
• 2014-01-07 Sold (MLS) $15,000 REALCOMP
• 2014-01-07 Sold (MLS) $15,000 SW Michigan MLS
• 2013-10-15 Listed $21,400 SW Michigan MLS
• 2013-10-15 Listing Removed — SW Michigan MLS
• 2013-10-15 Listing Removed — REALCOMP
• 2013-10-15 Listed $21,400 REALCOMP
• 2013-10-15 Listed $18,400 REALCOMP
• 2013-10-15 Listed $18,400 SW Michigan MLS

Property tax history

+7.1%/yr

Latest (2025): $1,137 · +5.3% YoY. Source: county tax records.