10 Cornwell St · Brownlee Park, MI 49014

$104,900

2 bd · 1.0 ba · 700 sqft · SingleFamily public records · 5 Days on market

Built 1927 3,615 sqft lot Est $93k · 13% over

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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 +22.4/30.0
• DSCR +7.2/10.0
• 1% rule +4.8/10.0
• Livability +3.3/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.8/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Completely updated and ready for immediate possession is the 2 bedroom home in Harper Creek schools featuring Lots of updates including Kitchen, Paint , Carpet. Private fenced in back yard, Full basement with Laundry hook ups and priced to sell at $104900.00 so call special Agent

Key facts

• Full basement
• Laundry hook ups
• Updated kitchen

Tags

• UPDATED KITCHEN
• PRIVATE FENCED YARD
• FULL BASEMENT
• LAUNDRY HOOK UPS

Property features AI

Exterior

• Utilities: Natural gas water heater
• Home design: Ranch-style single-family home; One-story; Built in 1927
• Construction: Vinyl siding; Composition roof; Full basement
• Exterior features: Paved road access; Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Five total rooms; 36-inch entrance door

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $102k (2.4% below list).
• Recommended offer: $102k (2.4% below list) — sets the bar for 1% rule.
• Cap rate 8.3% vs local median 3.8% in Brownlee Park — 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 66/100 on livability (#429 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Harper Creek Community Schools (rural): math 25% / reading 40% proficiency, ranked #313 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 135 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• This rent is only 18% of the median local income ($69k/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 $725 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Calhoun County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,422 (2.4% below list)

Questions for the listing agent

1. Built in 1927 — 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. 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?
4. 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?
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: 0.98% ✗
• Cap rate: 8.30%
• Cash-on-cash: 7.16%
• DSCR: 1.32
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $93,100
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35 Shirley Ave	0.18mi	3/2.0 (+1)	696 (-1%)	19mo	$123,000	$177	66
153 Martin St	0.29mi	3/1.0 (+1)	632 (-10%)	8mo	$135,000	$214	58
104 Vale St	0.42mi	2/1.0	752 (+7%)	13mo	$96,000	$128	57
12 Winnifred St	0.09mi	1/1.5 (-1)	792 (+13%)	12mo	$100,000	$126	57
9 Shirley Ave	0.10mi	2/1.0	783 (+12%)	24mo	$104,000	$133	56
117 Inn Rd	0.65mi	3/1.0 (+1)	770 (+10%)	8mo	$65,000	$84	41

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-5,873
• Equity at exit: $15,641

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $9,100
• Equity at exit: $9,070

Cash invested: $29,372 (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 49014

• Home prices YoY: -28.7%
• Active inventory: 135
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,024 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$40 /mo · $480/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $175

Break-even live

Break-even rent $802

Max offer price $104,900

Occupancy floor 78%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1975 Columbia Ave E Battle Creek, MI	1.0–3.0	1.0	761	$954	$1.25	43d	16	0.21mi
744 E Michigan Ave Unit 04 Battle Creek, MI	1.0	1.0	650	$900	$1.38	43d	1	0.30mi
595 Wagner Dr Unit 22 Battle Creek, MI	1.0	1.0	750	$1,050	$1.40	43d	1	1.05mi
775 Wagner Dr Battle Creek, MI	1.0–2.0	1.0	772	$1,085	$1.40	43d	6	1.28mi

Listing history 4 events

1. 2026-06-07
   statusdays on market $104,900 Pending 5 DOM
2. 2026-06-05
   days on market $104,900 Active 3 DOM
3. 2026-06-02
   remarks 280-char remark
4. 2026-06-02
   listed $104,900 Active 1 DOM

ⓘ 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: $480 · $40/mo
• Projected year-2 tax: $1,048 · $87/mo
• Expected delta: +$568/yr (+$47/mo · 118.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,291
• − Mortgage interest: −$5,876
• − Property taxes: −$480
• − Insurance: −$524
• − Repairs & maintenance: −$983
• − Management: −$983
• − Depreciation: −$3,052
• Taxable income: $392
• Est. tax owed @ 24.0%: −$94
• After-tax cash flow: $2,010/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: Harper Creek Community Schools
• NCES district ID: 2617730
• Math proficiency: 25% ▼ -9.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $53,979
• Composite: 28.6/100
• National rank: #6713
• State rank: #313 of 540 in MI

Livability — Brownlee Park

• Score: 66/100
• State rank: #429
• US rank: #11906

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brownlee Park, MI
• County: Calhoun County · 91,590 people
• Metro: Battle Creek, MI
• Population (ZIP): 21,980
• Household income: $69,009
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 416.0

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 130,157 people
• By 2030: 126,691 · -2.7%
• By 2040: 118,517 · -8.9%
• By 2050: 109,855 · -15.6%
• By 2075: 90,486 · -30.5%
• By 2100: 70,766 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 4% Iranian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1%

Political lean MEDSL · Calhoun

• 2024 margin: R (+14.1) · D 42.3% · R 56.4% · Other 1.3%
• 2008→2024 swing: -23.4pp toward R · 2008: 9.4pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+11.1 2016: R+12.5 2012: D+1.6 2008: D+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.29%
• Current HPI: 241.3422
• Rent YoY: —
• Metro: Battle Creek, 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

+40.1% since first listed

9 events — show timeline

• 2026-06-01 Listed $104,900 REALCOMP
• 2026-06-01 Listed $104,900 MiRealSource-MiMLS
• 2026-06-01 Listed $104,900 SW Michigan MLS
• 2022-07-01 Listing Removed — REALCOMP
• 2022-07-01 Listing Removed — MiRealSource-MiMLS
• 2022-07-01 Listing Removed — SW Michigan MLS
• 2022-06-13 Listed $74,900 MiRealSource-MiMLS
• 2022-06-13 Listed $74,900 SW Michigan MLS
• 2022-06-13 Listed $74,900 REALCOMP

Property tax history

-3.3%/yr

Latest (2025): $480 · -60.7% YoY. Source: county tax records.