243 Winter St · Battle Creek, MI 49015

$124,000

4 bd · 1.0 ba · 918 sqft · SingleFamily public records · 8 Days on market

Built 1940 5,663 sqft lot Est $119k · at est.

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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 +8.3/10.0
• ARV discount +5.7/15.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * Openhouose Saturday from 12-1pm * * Great opportunity in Lakeview! Cheaper than rent, this 3-bedroom home offers strong potential as a starter home, rental or value-add property. Featuring a practical floor plan, solid structure, and a sizable yard, this property is ready for your vision. Affordable price point with upside potential makes this a smart addition to any portfolio. BATVAI

Key facts

• 5,663 sq ft lot
• Garage
• Built 1940

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Traditional single-family residence; Built in 1940
• Construction: Brick and vinyl siding construction; Composition roof; Foundation with full basement
• Exterior features: Sidewalk; Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Storm windows and screens; Full basement; 6 total rooms
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $124k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Cap rate 11.0% vs local median 5.2% in Battle Creek — 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 73/100 on livability (#198 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities C-, crime F.
• Lakeview School District (Calhoun) (urban): math 28% / reading 40% proficiency, ranked #291 of 540 in MI (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+11.1%/yr); 165 active listings in the ZIP; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $857 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 $42k; list at $124k implies a 195% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,000

Questions for the listing agent

1. Built in 1940 — 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. 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: 1.33% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.74%
• DSCR: 1.74
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $119,340
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
243 Winter St	0.00mi	3/1.0 (-1)	960 (+5%)	0mo	$97,000	$101	87
68 Pleasant Ave	0.15mi	3/1.0 (-1)	959 (+4%)	4mo	$133,000	$139	77
241 Winter St	0.01mi	3/1.0 (-1)	959 (+4%)	16mo	$125,000	$130	74
324 Burr St	0.22mi	3/1.0 (-1)	888 (-3%)	7mo	$62,900	$71	74
563 Wentworth Ave	0.37mi	3/1.0 (-1)	935 (+2%)	8mo	$157,000	$168	68
115 Winter St	0.30mi	3/1.0 (-1)	960 (+5%)	14mo	$67,000	$70	62
64 E Grand Circle Ave	0.58mi	3/1.0 (-1)	920 (+0%)	8mo	$110,000	$120	61
754 Andrus St	0.37mi	3/2.0 (-1)	816 (-11%)	1mo	$95,000	$116	54
218 22nd St	0.67mi	3/1.0 (-1)	960 (+5%)	15mo	$160,000	$167	43
159 Spring St	0.70mi	3/1.0 (-1)	1,036 (+13%)	9mo	$74,000	$71	34
244 Battle Creek Ave	0.61mi	4/1.0	1,028 (+12%)	22mo	$145,000	$141	33
447 Lakeview Ave	0.59mi	3/1.0 (-1)	1,035 (+13%)	16mo	$165,000	$159	33

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 13.3%
• Equity multiple: 1.56×
• Total profit: $19,507
• Equity at exit: $18,489

10-year hold

• IRR: 25.7%
• Equity multiple: 3.78×
• Total profit: $96,533
• Equity at exit: $10,721

Cash invested: $34,720 (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 49015

• Rents YoY: 11.1%
• Active inventory: 165
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,655 medium
• Mortgage (P&I): −$650
• Tax from tax record: −$121 /mo · $1,453/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $484

Break-even live

Break-even rent $1,042

Max offer price $124,000

Occupancy floor 66%

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-05-15
   status Pending 394-char remark

   Show marketing remark (394 chars)

   * * Openhouose Saturday from 12-1pm * * Great opportunity in Lakeview! Cheaper than rent, this 3-bedroom home offers strong potential as a starter home, rental or value-add property. Featuring a practical floor plan, solid structure, and a sizable yard, this property is ready for your vision. Affordable price point with upside potential makes this a smart addition to any portfolio. BATVAI

2. 2026-05-15
   status Pending 394-char remark

   Show marketing remark (394 chars)

   * * Openhouose Saturday from 12-1pm * * Great opportunity in Lakeview! Cheaper than rent, this 3-bedroom home offers strong potential as a starter home, rental or value-add property. Featuring a practical floor plan, solid structure, and a sizable yard, this property is ready for your vision. Affordable price point with upside potential makes this a smart addition to any portfolio. BATVAI

3. 2026-05-15
   status Pending

   Show marketing remark (394 chars)

   * * Openhouose Saturday from 12-1pm * * Great opportunity in Lakeview! Cheaper than rent, this 3-bedroom home offers strong potential as a starter home, rental or value-add property. Featuring a practical floor plan, solid structure, and a sizable yard, this property is ready for your vision. Affordable price point with upside potential makes this a smart addition to any portfolio. BATVAI

4. 2026-05-07
   listed $124,000 Active 394-char remark

   Show marketing remark (394 chars)

   * * Openhouose Saturday from 12-1pm * * Great opportunity in Lakeview! Cheaper than rent, this 3-bedroom home offers strong potential as a starter home, rental or value-add property. Featuring a practical floor plan, solid structure, and a sizable yard, this property is ready for your vision. Affordable price point with upside potential makes this a smart addition to any portfolio. BATVAI

5. 2026-05-07
   listed $124,000 Active 394-char remark

   Show marketing remark (394 chars)

   * * Openhouose Saturday from 12-1pm * * Great opportunity in Lakeview! Cheaper than rent, this 3-bedroom home offers strong potential as a starter home, rental or value-add property. Featuring a practical floor plan, solid structure, and a sizable yard, this property is ready for your vision. Affordable price point with upside potential makes this a smart addition to any portfolio. BATVAI

6. 2026-05-07
   listed $124,000 Active

   Show marketing remark (394 chars)

   * * Openhouose Saturday from 12-1pm * * Great opportunity in Lakeview! Cheaper than rent, this 3-bedroom home offers strong potential as a starter home, rental or value-add property. Featuring a practical floor plan, solid structure, and a sizable yard, this property is ready for your vision. Affordable price point with upside potential makes this a smart addition to any portfolio. BATVAI

7. 2014-08-14
   soldstatus $42,000
8. 2014-05-29
   soldstatus $42,000
9. 2014-05-29
   soldstatus $42,000
10. 2013-09-19
    listed $46,500
11. 2013-09-19
    listed $46,500

ⓘ 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: $1,453 · $121/mo
• Projected year-2 tax: $1,681 · $140/mo
• Expected delta: +$228/yr (+$19/mo · 15.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,859
• − Mortgage interest: −$6,946
• − Property taxes: −$1,453
• − Insurance: −$620
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$3,607
• Taxable income: $4,056
• Est. tax owed @ 24.0%: −$973
• After-tax cash flow: $4,839/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: Lakeview School District (Calhoun)
• NCES district ID: 2620850
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $52,353
• Composite: 29.7/100
• National rank: #6455
• State rank: #291 of 540 in MI

Livability — Battle Creek

• Score: 73/100
• State rank: #198
• US rank: #5031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Battle Creek, MI
• County: Calhoun County · 91,590 people
• City population: 91,590
• Metro: Battle Creek, MI
• Population (ZIP): 27,765
• Household income: $68,821
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 755.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 7% Asian 7% Black 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 4% Lithuanian 4% Romanian 3%
• Foreign-born: 10% · Philippines, Canada
• Languages at home: 86% English-only · Other Asian/Pacific 7% Spanish 4% Other Indo-European 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: ▼ -116.20%
• Current HPI: 206.7754
• Rent YoY: ▲ 11.13%
• 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

+166.7% since first listed

11 events — show timeline

• 2026-05-15 Pending — REALCOMP
• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-15 Pending — SW Michigan MLS
• 2026-05-07 Listed $124,000 SW Michigan MLS
• 2026-05-07 Listed $124,000 MiRealSource-MiMLS
• 2026-05-07 Listed $124,000 REALCOMP
• 2014-08-14 Sold (Public Records) $42,000 Public Records
• 2014-05-29 Sold (MLS) $42,000 REALCOMP
• 2014-05-29 Sold (MLS) $42,000 SW Michigan MLS
• 2013-09-19 Listed $46,500 REALCOMP
• 2013-09-19 Listed $46,500 SW Michigan MLS

Property tax history

-4.6%/yr

Latest (2025): $1,453 · -31.1% YoY. Source: county tax records.