1516 Charles Ave · Kalamazoo, MI 49048

$160,000

3 bd · 1.5 ba · 924 sqft · SingleFamily public records · 2 Days on market

Built 1928 3,920 sqft lot Est $150k · 7% 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 +13.4/30.0
• Schools +4.7/10.0
• Rent growth +4.5/5.0
• ARV discount +4.4/15.0
• DSCR +4.0/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming 3-bedroom, 1-bath residence nestled in the heart of Kalamazoo and Promise Eligible! This inviting home features beautiful wood floors that add warmth and character throughout, paired with a freshly painted interior that gives the space a clean, move-in-ready feel. Enjoy a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. This home offers a wonderful opportunity to own in a convenient location close to shopping, dining, and everything Kalamazoo has to offer.

Key facts

• Wood floors
• Functional layout
• Convenient location

Tags

• WOOD FLOORS
• FRESHLY PAINTED INTERIOR
• FUNCTIONAL LAYOUT
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $4 ($43/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 $129k (19.5% below list).
• Recommended offer: $129k (19.5% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Zoned schools: Northeastern Elementary School (212 students, 92% FRL); Linden Grove Middle School (math 30% / reading 70%, grade C, #125 of 493 statewide, top 25%, 705 students, 69% FRL); Kalamazoo Central High School (math 42% / reading 67%, grade C-, #109 of 713 statewide, top 17%, 1,612 students, 64% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 156 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1k of loan paydown is wiped out by about $5k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 20y 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 $56k; list at $160k implies a 186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,802 (19.5% below list)

Questions for the listing agent

1. Built in 1928 — 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. 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?
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: 0.81% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.10%
• DSCR: 1.00
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $149,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1516 Charles Ave	0.00mi	3/1.0	924 (0%)	1mo	$160,000	$173	97
324 Trimble Ave	0.20mi	2/1.0 (-1)	906 (-2%)	2mo	$159,900	$176	79
231 Foresman Ave	0.08mi	2/1.0 (-1)	950 (+3%)	7mo	$154,000	$162	78
553 Fenimore Ave	0.35mi	2/1.0 (-1)	920 (-0%)	7mo	$146,800	$160	70
407 Wallace Ave	0.26mi	2/1.0 (-1)	816 (-12%)	5mo	$161,900	$198	57
1308 Colgrove Ave	0.69mi	2/1.0 (-1)	912 (-1%)	2mo	$85,000	$93	57
240 Chicago Ave	0.41mi	3/1.0	1,046 (+13%)	3mo	$162,000	$155	54
427 Sheldon St	0.65mi	2/1.0 (-1)	894 (-3%)	4mo	$114,000	$128	54
1722 Humphrey St	0.53mi	3/1.0	1,004 (+9%)	9mo	$175,000	$174	51
514 Fenimore Ave	0.36mi	2/1.0 (-1)	794 (-14%)	5mo	$150,000	$189	49
416 Fisher St	0.72mi	2/1.0 (-1)	804 (-13%)	2mo	$67,500	$84	36
1406 Bixby Rd	0.68mi	2/1.0 (-1)	1,037 (+12%)	8mo	$151,000	$146	34

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: -11.3%
• Equity multiple: 0.57×
• Total profit: $-19,102
• Equity at exit: $23,857

10-year hold

• IRR: 3.5%
• Equity multiple: 1.30×
• Total profit: $13,633
• Equity at exit: $13,834

Cash invested: $44,800 (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: 156
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,288 high
• Mortgage (P&I): −$839
• Tax from tax record: −$108 /mo · $1,299/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $4

Break-even live

Break-even rent $1,284

Max offer price $160,000

Occupancy floor 95%

Sensitivity live

Price	-10% $94	-5% $49	+0% $4	+5% $-42	+10% $-87
Rent	-10% $-98	-5% $-47	+0% $4	+5% $54	+10% $105
Rate	-1.0pp $84	-0.5pp $44	base $4	+0.5pp $-38	+1.0pp $-80

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1403 Sherwood Ave Unit 2 Kalamazoo, MI	2.0	1.0	900	$1,000	$1.11	23d	1	0.13mi
414 Trimble Ave Kalamazoo, MI	2.0	1.0	764	$1,300	$1.70	15d	1	0.20mi
621 Washburn Ave Kalamazoo, MI	2.0	1.0	720	$1,300	$1.81	23d	1	0.57mi
1536 Henson Ave Unit 4 Kalamazoo, MI	2.0	1.0	575	$995	$1.73	23d	1	0.79mi
525 E Ransom St Kalamazoo, MI	1.0–2.0	1.0–2.0	807	$1,625	$2.01	23d	1	0.79mi
815 N Pitcher St Unit 12 Kalamazoo, MI	2.0	2.0	982	$1,550	$1.58	23d	1	0.98mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	23d	1	1.00mi
1928 Colgrove Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	912	$1,390	$1.52	15d	13	1.04mi
1315 Race St Kalamazoo, MI	2.0	1.0	826	$950	$1.15	15d	1	1.27mi
1332 Poplar Pl Apt 2 Kalamazoo, MI	2.0	1.0	545	$800	$1.47	23d	1	1.27mi
1926 Sunnyside Dr Kalamazoo, MI	2.0	1.5	1020	$1,200	$1.18	23d	1	1.35mi
2420 Upper Riverview Dr Kalamazoo, MI	3.0	1.0	925	$1,300	$1.41	23d	1	1.43mi
2024 Sunnyside Dr Kalamazoo, MI	1.0–2.0	1.0	740	$1,000	$1.35	15d	1	1.49mi

Listing history 19 events

1. 2026-04-23
   status Pending 542-char remark

   Show marketing remark (542 chars)

   Welcome home to this charming 3-bedroom, 1-bath residence nestled in the heart of Kalamazoo and Promise Eligible! This inviting home features beautiful wood floors that add warmth and character throughout, paired with a freshly painted interior that gives the space a clean, move-in-ready feel. Enjoy a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. This home offers a wonderful opportunity to own in a convenient location close to shopping, dining, and everything Kalamazoo has to offer.

2. 2026-04-23
   status Pending 542-char remark

   Show marketing remark (542 chars)

   Welcome home to this charming 3-bedroom, 1-bath residence nestled in the heart of Kalamazoo and Promise Eligible! This inviting home features beautiful wood floors that add warmth and character throughout, paired with a freshly painted interior that gives the space a clean, move-in-ready feel. Enjoy a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. This home offers a wonderful opportunity to own in a convenient location close to shopping, dining, and everything Kalamazoo has to offer.

3. 2026-04-23
   status Pending

   Show marketing remark (542 chars)

   Welcome home to this charming 3-bedroom, 1-bath residence nestled in the heart of Kalamazoo and Promise Eligible! This inviting home features beautiful wood floors that add warmth and character throughout, paired with a freshly painted interior that gives the space a clean, move-in-ready feel. Enjoy a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. This home offers a wonderful opportunity to own in a convenient location close to shopping, dining, and everything Kalamazoo has to offer.

4. 2026-04-21
   listed $160,000 Active 542-char remark

   Show marketing remark (542 chars)

   Welcome home to this charming 3-bedroom, 1-bath residence nestled in the heart of Kalamazoo and Promise Eligible! This inviting home features beautiful wood floors that add warmth and character throughout, paired with a freshly painted interior that gives the space a clean, move-in-ready feel. Enjoy a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. This home offers a wonderful opportunity to own in a convenient location close to shopping, dining, and everything Kalamazoo has to offer.

5. 2026-04-21
   listed $160,000 Active 542-char remark

   Show marketing remark (542 chars)

   Welcome home to this charming 3-bedroom, 1-bath residence nestled in the heart of Kalamazoo and Promise Eligible! This inviting home features beautiful wood floors that add warmth and character throughout, paired with a freshly painted interior that gives the space a clean, move-in-ready feel. Enjoy a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. This home offers a wonderful opportunity to own in a convenient location close to shopping, dining, and everything Kalamazoo has to offer.

6. 2026-04-21
   listed $160,000 Active

   Show marketing remark (542 chars)

   Welcome home to this charming 3-bedroom, 1-bath residence nestled in the heart of Kalamazoo and Promise Eligible! This inviting home features beautiful wood floors that add warmth and character throughout, paired with a freshly painted interior that gives the space a clean, move-in-ready feel. Enjoy a functional layout with comfortable living spaces, perfect for both everyday living and entertaining. This home offers a wonderful opportunity to own in a convenient location close to shopping, dining, and everything Kalamazoo has to offer.

7. 2016-07-29
   soldstatus $56,000
8. 2016-07-08
   soldstatus $56,000
9. 2016-07-08
   soldstatus $56,000 Sold
10. 2016-05-26
    status Pending
11. 2016-05-05
    price $57,900
12. 2015-09-30
    price $59,900
13. 2015-09-04
    listed $64,900 Active
14. 2015-07-06
    listed $57,900
15. 2007-01-22
    soldstatus $77,900
16. 2006-10-31
    soldstatus $77,900
17. 2006-10-31
    soldstatus $77,900
18. 2006-06-07
    listed $79,900
19. 2006-06-07
    listed $79,900

ⓘ 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: $1,299 · $108/mo
• Projected year-2 tax: $1,882 · $157/mo
• Expected delta: +$582/yr (+$49/mo · 44.8%)

ⓘ 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 ≥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: $15,456
• − Mortgage interest: −$8,962
• − Property taxes: −$1,299
• − Insurance: −$800
• − Repairs & maintenance: −$1,236
• − Management: −$1,236
• − Depreciation: −$4,655
• Taxable loss: −$2,733
• Est. tax savings @ 24.0%: +$656
• After-tax cash flow: $699/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): 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

+100.3% since first listed

19 events — show timeline

• 2026-04-23 Pending — REALCOMP
• 2026-04-23 Pending — MiRealSource-MiMLS
• 2026-04-23 Pending — SW Michigan MLS
• 2026-04-21 Listed $160,000 SW Michigan MLS
• 2026-04-21 Listed $160,000 MiRealSource-MiMLS
• 2026-04-21 Listed $160,000 REALCOMP
• 2016-07-29 Sold (Public Records) $56,000 Public Records
• 2016-07-08 Sold (MLS) $56,000 SW Michigan MLS
• 2016-07-08 Sold (MLS) $56,000 REALCOMP
• 2016-05-26 Pending — SW Michigan MLS
• 2016-05-05 Price Changed $57,900 SW Michigan MLS
• 2015-09-30 Price Changed $59,900 SW Michigan MLS
• 2015-09-04 Listed $64,900 SW Michigan MLS
• 2015-07-06 Listed $57,900 REALCOMP
• 2007-01-22 Sold (Public Records) $77,900 Public Records
• 2006-10-31 Sold (MLS) $77,900 REALCOMP
• 2006-10-31 Sold (MLS) $77,900 SW Michigan MLS
• 2006-06-07 Listed $79,900 REALCOMP
• 2006-06-07 Listed $79,900 SW Michigan MLS

Property tax history

+4.5%/yr

Latest (2025): $1,299 · +3.0% YoY. Source: county tax records.