501 Fenimore Ave · Eastwood, MI 49048

$204,000

4 bd · 2.0 ba · 1,296 sqft · SingleFamily · 22 Days on market

Built 2025 9,583 sqft lot Est $175k · 17% over

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Why this score? — see what drove the F 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 +11.6/30.0
• Schools +4.7/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

New construction opportunity in Eastwood delivering modern design and outstanding value. This 4-BR, 2 full bath home offers substantial finished living space at an affordable price point. The main level features an open-concept layout with a generous great room that connects seamlessly to a contemporary kitchen complete with LVP flooring, stainless steel appliances, and quality cabinetry. 2 bedrooms and a full bath are conveniently situated on the main floor. The finished lower level adds two additional bedrooms, a second full bath, and extra storage space for added flexibility. Energy-efficient, all-electric systems are designed to help keep utility expenses manageable. Enjoy a spacious backyard perfect for outdoor activities and the 1-car garage provides protection from the elements. Income restrictions apply (Gëñ100% AMI). Preference given to first-time buyers and those who have not owned a home within the past 3 years. Down payment assistance may be available for qualified buyer

Key facts

• Spacious backyard
• Open-concept layout
• Finished lower level

Tags

• NEW CONSTRUCTION OPPORTUNITY
• OPEN-CONCEPT LAYOUT
• FINISHED LOWER LEVEL
• SPACIOUS BACKYARD
• ENERGY-EFFICIENT SYSTEMS

Property features AI

Exterior

• Parking: Detached garage; One garage space
• Utilities: Public water; Electric water heater
• Home design: Single-family residence; Residential property; New construction (2025)
• Construction: Vinyl siding; Asphalt shingle roof; Full basement; Year built 2025
• Exterior features: Paved road access; Lot about 0.22 acres

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Primary bedroom; Three additional bedrooms (four bedrooms total)
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Five total rooms; 36-inch entrance door; Main-floor accessible bedroom; Screens and insulated windows
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $204k.

Deal economics

• At list price, monthly cash flow is $-65 ($-783/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (16.6% below list).
• Recommended offer: $170k (16.6% below list) — sets the bar for 1% rule.

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: crime C-, employment D+, amenities F.
• 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; 1 comparable units currently listed for rent nearby; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 34% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• It's been on market 22 days — a 2% lower offer ($201k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Recommended offer $170,196 (16.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.83% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $174,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
557 Ira Ave	0.30mi	4/2.5	1,296 (0%)	2mo	$192,500	$149	82
1607 E Michigan Ave	0.32mi	3/1.5 (-1)	1,336 (+3%)	1mo	$170,000	$127	72
619 Fairbanks Ave	0.40mi	3/1.0 (-1)	1,329 (+2%)	1mo	$180,000	$135	67
209 Wallace Ave	0.18mi	3/1.0 (-1)	1,184 (-9%)	2mo	$135,000	$114	66
927 Albert Ave	0.38mi	3/1.5 (-1)	1,404 (+8%)	3mo	$182,000	$130	59
1002 Hazard Ave	0.46mi	3/1.0 (-1)	1,220 (-6%)	3mo	$135,900	$111	57
1022 Dayton Ave	0.65mi	3/1.0 (-1)	1,274 (-2%)	4mo	$194,000	$152	55
1824 Humphrey St	0.52mi	3/1.0 (-1)	1,192 (-8%)	2mo	$160,000	$134	52
625 Lum Ave	0.39mi	3/2.0 (-1)	1,107 (-15%)	2mo	$197,000	$178	51
926 Washburn Ave	0.44mi	3/2.0 (-1)	1,115 (-14%)	2mo	$195,500	$175	50
1242 Nassau St	0.72mi	3/1.0 (-1)	1,242 (-4%)	8mo	$175,000	$141	44
702 Charlotte Ave	0.52mi	3/2.5 (-1)	1,478 (+14%)	8mo	$180,000	$122	39

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: -13.2%
• Equity multiple: 0.50×
• Total profit: $-28,419
• Equity at exit: $30,417

10-year hold

• IRR: 2.0%
• Equity multiple: 1.17×
• Total profit: $9,813
• Equity at exit: $17,638

Cash invested: $57,120 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,702 medium
• Mortgage (P&I): −$1,070
• Tax est. 1.5%: −$255 /mo · $3,060/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-65

Break-even live

Break-even rent $1,785

Max offer price $194,558

Occupancy floor 99%

Sensitivity live

Price	-10% $76	-5% $5	+0% $-65	+5% $-136	+10% $-206
Rent	-10% $-200	-5% $-132	+0% $-65	+5% $2	+10% $69
Rate	-1.0pp $37	-0.5pp $-13	base $-65	+0.5pp $-118	+1.0pp $-172

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: $51,000
• Closing costs: $6,120
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1928 Colgrove Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	912	$1,390	$1.52	15d	13	1.00mi

Listing history 12 events

1. 2026-05-13
   status Pending 1009-char remark

   Show marketing remark (998 chars)

   New construction opportunity in Eastwood delivering modern design and outstanding value. This 4-BR, 2 full bath home offers substantial finished living space at an affordable price point. The main level features an open-concept layout with a generous great room that connects seamlessly to a contemporary kitchen complete with LVP flooring, stainless steel appliances, and quality cabinetry. 2 bedrooms and a full bath are conveniently situated on the main floor. The finished lower level adds two additional bedrooms, a second full bath, and extra storage space for added flexibility. Energy-efficient, all-electric systems are designed to help keep utility expenses manageable. Enjoy a spacious backyard perfect for outdoor activities and the 1-car garage provides protection from the elements. Income restrictions apply (≤100% AMI). Preference given to first-time buyers and those who have not owned a home within the past 3 years. Down payment assistance may be available for qualified buyer

2. 2026-05-13
   status Pending 998-char remark

   Show marketing remark (998 chars)

   New construction opportunity in Eastwood delivering modern design and outstanding value. This 4-BR, 2 full bath home offers substantial finished living space at an affordable price point. The main level features an open-concept layout with a generous great room that connects seamlessly to a contemporary kitchen complete with LVP flooring, stainless steel appliances, and quality cabinetry. 2 bedrooms and a full bath are conveniently situated on the main floor. The finished lower level adds two additional bedrooms, a second full bath, and extra storage space for added flexibility. Energy-efficient, all-electric systems are designed to help keep utility expenses manageable. Enjoy a spacious backyard perfect for outdoor activities and the 1-car garage provides protection from the elements. Income restrictions apply (≤100% AMI). Preference given to first-time buyers and those who have not owned a home within the past 3 years. Down payment assistance may be available for qualified buyer

3. 2026-05-13
   status Pending

   Show marketing remark (998 chars)

   New construction opportunity in Eastwood delivering modern design and outstanding value. This 4-BR, 2 full bath home offers substantial finished living space at an affordable price point. The main level features an open-concept layout with a generous great room that connects seamlessly to a contemporary kitchen complete with LVP flooring, stainless steel appliances, and quality cabinetry. 2 bedrooms and a full bath are conveniently situated on the main floor. The finished lower level adds two additional bedrooms, a second full bath, and extra storage space for added flexibility. Energy-efficient, all-electric systems are designed to help keep utility expenses manageable. Enjoy a spacious backyard perfect for outdoor activities and the 1-car garage provides protection from the elements. Income restrictions apply (≤100% AMI). Preference given to first-time buyers and those who have not owned a home within the past 3 years. Down payment assistance may be available for qualified buyer

4. 2026-04-19
   listed $204,000 Active 1009-char remark

   Show marketing remark (998 chars)

   New construction opportunity in Eastwood delivering modern design and outstanding value. This 4-BR, 2 full bath home offers substantial finished living space at an affordable price point. The main level features an open-concept layout with a generous great room that connects seamlessly to a contemporary kitchen complete with LVP flooring, stainless steel appliances, and quality cabinetry. 2 bedrooms and a full bath are conveniently situated on the main floor. The finished lower level adds two additional bedrooms, a second full bath, and extra storage space for added flexibility. Energy-efficient, all-electric systems are designed to help keep utility expenses manageable. Enjoy a spacious backyard perfect for outdoor activities and the 1-car garage provides protection from the elements. Income restrictions apply (≤100% AMI). Preference given to first-time buyers and those who have not owned a home within the past 3 years. Down payment assistance may be available for qualified buyer

5. 2026-04-19
   listed $204,000 Active 998-char remark

   Show marketing remark (998 chars)

   New construction opportunity in Eastwood delivering modern design and outstanding value. This 4-BR, 2 full bath home offers substantial finished living space at an affordable price point. The main level features an open-concept layout with a generous great room that connects seamlessly to a contemporary kitchen complete with LVP flooring, stainless steel appliances, and quality cabinetry. 2 bedrooms and a full bath are conveniently situated on the main floor. The finished lower level adds two additional bedrooms, a second full bath, and extra storage space for added flexibility. Energy-efficient, all-electric systems are designed to help keep utility expenses manageable. Enjoy a spacious backyard perfect for outdoor activities and the 1-car garage provides protection from the elements. Income restrictions apply (≤100% AMI). Preference given to first-time buyers and those who have not owned a home within the past 3 years. Down payment assistance may be available for qualified buyer

6. 2026-04-19
   listed $204,000 Active

   Show marketing remark (998 chars)

   New construction opportunity in Eastwood delivering modern design and outstanding value. This 4-BR, 2 full bath home offers substantial finished living space at an affordable price point. The main level features an open-concept layout with a generous great room that connects seamlessly to a contemporary kitchen complete with LVP flooring, stainless steel appliances, and quality cabinetry. 2 bedrooms and a full bath are conveniently situated on the main floor. The finished lower level adds two additional bedrooms, a second full bath, and extra storage space for added flexibility. Energy-efficient, all-electric systems are designed to help keep utility expenses manageable. Enjoy a spacious backyard perfect for outdoor activities and the 1-car garage provides protection from the elements. Income restrictions apply (≤100% AMI). Preference given to first-time buyers and those who have not owned a home within the past 3 years. Down payment assistance may be available for qualified buyer

7. 2026-03-10
   status Pending
8. 2026-03-10
   status Pending
9. 2026-03-08
   historical
10. 2026-03-08
    historical
11. 2026-02-18
    listed $194,000 Active
12. 2026-02-16
    listed $194,000 Active

ⓘ 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 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: $20,424
• − Mortgage interest: −$11,427
• − Property taxes: −$3,060
• − Insurance: −$1,020
• − Repairs & maintenance: −$1,634
• − Management: −$1,634
• − Depreciation: −$5,935
• Taxable loss: −$4,286
• Est. tax savings @ 24.0%: +$1,029
• After-tax cash flow: $246/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 — 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

• Census place: Eastwood, MI
• 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

+5.2% since first listed

12 events — show timeline

• 2026-05-13 Pending — REALCOMP
• 2026-05-13 Pending — MiRealSource-MiMLS
• 2026-05-13 Pending — SW Michigan MLS
• 2026-04-19 Listed $204,000 SW Michigan MLS
• 2026-04-19 Listed $204,000 MiRealSource-MiMLS
• 2026-04-19 Listed $204,000 REALCOMP
• 2026-03-10 Pending — REALCOMP
• 2026-03-10 Pending — MiRealSource-MiMLS
• 2026-03-08 Listing Removed — MiRealSource-MiMLS
• 2026-03-08 Listing Removed — REALCOMP
• 2026-02-18 Listed $194,000 REALCOMP
• 2026-02-16 Listed $194,000 MiRealSource-MiMLS