1622 Olive St · Kalamazoo, MI 49001

$69,000

3 bd · 1.0 ba · 1,156 sqft · SingleFamily public records · 141 Days on market

Built 1911 10,454 sqft lot Est $112k · 38% under

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Why this score? — see what drove the A- 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
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own a home and build some equity. This home has loads of potential for its next owner to take this house and make it a home. Property is located in a quiet neighborhood with a large yard on a dead end street. Home offers a convenient location and endless possibilities. Come see all the potential this property has before someone else makes it theirs!

Key facts

• Large yard
• Dead end street
• Convenient location

Tags

• LARGE YARD
• DEAD END STREET
• CONVENIENT LOCATION

Property features AI

Exterior

• Home design: Traditional-style single family residence; 1,156 living area
• Construction: Built in 1911; Vinyl siding
• Exterior features: Lot approximately 0.24 acres; Public water

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Heating present
• Interior features: 7 total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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 rising fast (+6.4%/yr); 109 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $477 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 + 6.4% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — 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: 1.78% ✓
• Cap rate: 14.84%
• Cash-on-cash: 30.54%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $112,132
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1721 Egleston Ave	0.10mi	3/1.5	1,186 (+3%)	2mo	$115,000	$97	87
1519 E Stockbridge Ave	0.08mi	3/1.5	1,121 (-3%)	4mo	$95,000	$85	86
1626 Lane Blvd	0.40mi	3/1.0	1,144 (-1%)	2mo	$185,000	$162	78
1506 Lane Blvd	0.41mi	3/1.0	1,113 (-4%)	2mo	$105,000	$94	73
1612 E Stockbridge Ave	0.06mi	3/1.5	1,301 (+12%)	4mo	$156,500	$120	71
1312 March St	0.20mi	3/1.0	1,250 (+8%)	7mo	$54,000	$43	71
1908 E Stockbridge Ave	0.18mi	3/1.0	1,000 (-14%)	3mo	$136,038	$136	66
907 Russell St	0.55mi	2/1.0 (-1)	1,113 (-4%)	1mo	$53,000	$48	62
1901 Fulton St	0.61mi	3/1.0	1,090 (-6%)	1mo	$203,000	$186	61
1415 Hays Park Ave	0.25mi	2/1.0 (-1)	988 (-14%)	4mo	$60,000	$61	56
734 E Stockbridge Ave	0.61mi	4/1.0 (+1)	1,294 (+12%)	0mo	$45,000	$35	46
1114 Lane Blvd	0.53mi	3/2.0	1,319 (+14%)	4mo	$135,500	$103	44

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 · 6.41% rent growth · sell at horizon

5-year hold

• IRR: 29.1%
• Equity multiple: 2.27×
• Total profit: $24,504
• Equity at exit: $10,288

10-year hold

• IRR: 38.4%
• Equity multiple: 5.19×
• Total profit: $80,885
• Equity at exit: $5,966

Cash invested: $19,320 (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 49001

• Rents YoY: 6.4%
• Active inventory: 109
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,226 high
• Mortgage (P&I): −$362
• Tax est. 1.5%: −$86 /mo · $1,035/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $492

Break-even live

Break-even rent $604

Max offer price $69,000

Occupancy floor 55%

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1315 Race St Kalamazoo, MI	2.0	1.0	826	$950	$1.15	13d	1	0.44mi
414 Trimble Ave Kalamazoo, MI	2.0	1.0	764	$1,300	$1.70	13d	1	1.20mi
1512 S Burdick St Kalamazoo, MI	3.0	1.0	887	$1,250	$1.41	13d	1	1.24mi
1403 Sherwood Ave Unit 2 Kalamazoo, MI	2.0	1.0	900	$1,000	$1.11	21d	1	1.35mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	21d	1	1.46mi
2725 S Burdick St Kalamazoo, MI	2.0	1.0	1000	$1,250	$1.25	13d	1	1.46mi
621 Washburn Ave Kalamazoo, MI	2.0	1.0	720	$1,300	$1.81	21d	1	1.47mi

Listing history 26 events

1. 2026-06-18
   days on market $69,000 Active 141 DOM
2. 2026-06-17
   days on market $69,000 Active 140 DOM
3. 2026-06-16
   days on market $69,000 Active 139 DOM
4. 2026-06-15
   days on market $69,000 Active 138 DOM
5. 2026-06-14
   days on market $69,000 Active 136 DOM
6. 2026-06-13
   days on market $69,000 Active 135 DOM
7. 2026-06-10
   days on market $69,000 Active 133 DOM
8. 2026-06-09
   days on market $69,000 Active 132 DOM
9. 2026-06-08
   days on market $69,000 Active 131 DOM
10. 2026-06-07
    days on market $69,000 Active 130 DOM
11. 2026-06-05
    days on market $69,000 Active 127 DOM
12. 2026-06-03
    days on market $69,000 Active 126 DOM
13. 2026-06-02
    days on market $69,000 Active 125 DOM
14. 2026-06-01
    days on market $69,000 Active 124 DOM
15. 2026-05-31
    days on market $69,000 Active 123 DOM
16. 2026-05-30
    days on market $69,000 Active 122 DOM
17. 2026-03-12
    price $74,000 372-char remark

    Show marketing remark (372 chars)

    Great opportunity to own a home and build some equity. This home has loads of potential for its next owner to take this house and make it a home. Property is located in a quiet neighborhood with a large yard on a dead end street. Home offers a convenient location and endless possibilities. Come see all the potential this property has before someone else makes it theirs!

18. 2026-03-11
    price $74,000 373-char remark

    Show marketing remark (373 chars)

    Great opportunity to own a home and build some equity. This home has loads of potential for its next owner to take this house and make it a home. Property is located in a quiet neighborhood with a large yard on a dead end street. Home offers a convenient location and endless possibilities. Come see all the potential this property has before someone else makes it theirs!

19. 2026-03-11
    price $74,000

    Show marketing remark (373 chars)

    Great opportunity to own a home and build some equity. This home has loads of potential for its next owner to take this house and make it a home. Property is located in a quiet neighborhood with a large yard on a dead end street. Home offers a convenient location and endless possibilities. Come see all the potential this property has before someone else makes it theirs!

20. 2026-01-28
    listed $79,000 Active 372-char remark

    Show marketing remark (373 chars)

    Great opportunity to own a home and build some equity. This home has loads of potential for its next owner to take this house and make it a home. Property is located in a quiet neighborhood with a large yard on a dead end street. Home offers a convenient location and endless possibilities. Come see all the potential this property has before someone else makes it theirs!

21. 2026-01-28
    listed $79,000 Active 373-char remark

    Show marketing remark (373 chars)

    Great opportunity to own a home and build some equity. This home has loads of potential for its next owner to take this house and make it a home. Property is located in a quiet neighborhood with a large yard on a dead end street. Home offers a convenient location and endless possibilities. Come see all the potential this property has before someone else makes it theirs!

22. 2026-01-28
    listed $79,000 Active

    Show marketing remark (373 chars)

    Great opportunity to own a home and build some equity. This home has loads of potential for its next owner to take this house and make it a home. Property is located in a quiet neighborhood with a large yard on a dead end street. Home offers a convenient location and endless possibilities. Come see all the potential this property has before someone else makes it theirs!

23. 2002-10-09
    soldstatus $48,500
24. 2002-10-09
    soldstatus $48,500
25. 2002-04-18
    listed $49,500
26. 2002-04-18
    listed $49,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 74% 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: $14,712
• − Mortgage interest: −$3,865
• − Property taxes: −$1,035
• − Insurance: −$345
• − Repairs & maintenance: −$1,177
• − Management: −$1,177
• − Depreciation: −$2,007
• Taxable income: $5,106
• Est. tax owed @ 24.0%: −$1,225
• After-tax cash flow: $4,675/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): 20,946
• Household income: $56,432
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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 0.59)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 15% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 6% Iranian 4% Slovak 3%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 11% Arabic 2% 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: ▼ -264.90%
• Current HPI: 206.9355
• Rent YoY: ▲ 6.41%
• 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

+49.5% since first listed

10 events — show timeline

• 2026-03-12 Price Changed $74,000 MiRealSource-MiMLS
• 2026-03-11 Price Changed $74,000 REALCOMP
• 2026-03-11 Price Changed $74,000 SW Michigan MLS
• 2026-01-28 Listed $79,000 SW Michigan MLS
• 2026-01-28 Listed $79,000 REALCOMP
• 2026-01-28 Listed $79,000 MiRealSource-MiMLS
• 2002-10-09 Sold (MLS) $48,500 REALCOMP
• 2002-10-09 Sold (MLS) $48,500 SW Michigan MLS
• 2002-04-18 Listed $49,500 REALCOMP
• 2002-04-18 Listed $49,500 SW Michigan MLS

Property tax history

+24.0%/yr

Latest (2025): $3,457 · +197.2% YoY. Source: county tax records.