207 Cherry St · Allegan, MI 49010

$159,900

3 bd · 2.0 ba · 1,376 sqft · SingleFamily public records · 13 Days on market

Built 1872 10,019 sqft lot Est $198k · 19% under

---

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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bed, 1.5 bath home in excellent location. Just a little TLC will go a long way. Newer furnace. Private back yard. 1 ++ stall garage. Sold AS-IS with all contents. Pole barn is NOT part of this property.

Key facts

• Newer furnace
• Private back yard
• Excellent location

Tags

• EXCELLENT LOCATION
• NEWER FURNACE
• PRIVATE BACK YARD

Property features AI

Finance

• Other: Residential property with 1,376 total living area

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water service
• Home design: Traditional single-family home; One-story (single level not specified beyond total living area)
• Construction: Built in 1872; Vinyl siding
• Exterior features: Lot is 0.23 acres; Public water

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating
• Interior features: Seven total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $651 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 11.6% vs local median 4.6% in Allegan — 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 70/100 on livability (#318 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, employment D+, amenities F.
• Allegan Public Schools (town): math 26% / reading 37% proficiency, ranked #338 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 183 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 419 units permitted in Allegan County in 2024 (0 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 26y 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: flood insurance adds $56/mo; built in 1872 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $159,900

Questions for the listing agent

1. Built in 1872 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.43% ✓
• Cap rate: 11.59%
• Cash-on-cash: 18.93%
• DSCR: 1.84
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $198,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
143 Ely St	0.20mi	2/1.0 (-1)	1,325 (-4%)	7mo	$178,000	$134	69
301 Grand St	0.70mi	3/2.0	1,366 (-1%)	2mo	$290,000	$212	64
104 Grand St	0.55mi	3/3.0	1,328 (-4%)	7mo	$149,000	$112	58
124 Park Ave	0.59mi	3/1.0	1,320 (-4%)	6mo	$106,000	$80	57
608 Trowbridge St	0.35mi	3/2.0	1,536 (+12%)	11mo	$225,000	$146	55
151 Park Ave	0.61mi	3/2.0	1,440 (+5%)	12mo	$245,000	$170	54
211 Lincoln St	0.64mi	4/2.0 (+1)	1,320 (-4%)	11mo	$190,000	$144	49
223 North St	0.73mi	3/1.5	1,512 (+10%)	2mo	$158,000	$104	46
228 River St	0.70mi	2/2.0 (-1)	1,300 (-6%)	11mo	$215,000	$165	44
208 Robinson St	0.62mi	3/1.0	1,232 (-10%)	9mo	$206,500	$168	42
226 Monroe St	0.46mi	3/1.0	1,190 (-14%)	12mo	$148,000	$124	42
123 Terrace St	0.69mi	3/1.0	1,528 (+11%)	5mo	$200,000	$131	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: 8.9%
• Equity multiple: 1.35×
• Total profit: $15,600
• Equity at exit: $23,842

10-year hold

• IRR: 18.1%
• Equity multiple: 2.50×
• Total profit: $67,226
• Equity at exit: $13,825

Cash invested: $44,772 (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 49010

• Home prices YoY: -34.3%
• Active inventory: 183
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,293 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$481
• Net cashflow: $651

Break-even live

Break-even rent $1,469

Max offer price $159,900

Occupancy floor 67%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Monroe St Unit 1 Allegan, MI	3.0	2.0	1700	$2,000	$1.18	21d	1	0.44mi
364 Sherman St Allegan, MI	3.0	2.5	1800	$2,795	$1.55	44d	1	1.01mi
364 Sherman St Allegan, MI	3.0	2.5	1800	$2,495	$1.39	21d	1	1.01mi

Listing history 32 events

1. 2026-06-01
   status $159,900 Pending 13 DOM
2. 2026-06-01
   days on market $159,900 Active 13 DOM
3. 2026-05-31
   days on market $159,900 Active 12 DOM
4. 2026-05-31
   days on market $159,900 Active 11 DOM
5. 2026-05-19
   listed $159,900 Active 204-char remark

   Show marketing remark (204 chars)

   3 bed, 1.5 bath home in excellent location. Just a little TLC will go a long way. Newer furnace. Private back yard. 1 ++ stall garage. Sold AS-IS with all contents. Pole barn is NOT part of this property.

6. 2026-05-19
   listed $159,900 Active 204-char remark

   Show marketing remark (204 chars)

   3 bed, 1.5 bath home in excellent location. Just a little TLC will go a long way. Newer furnace. Private back yard. 1 ++ stall garage. Sold AS-IS with all contents. Pole barn is NOT part of this property.

7. 2026-05-19
   listed $159,900 Active

   Show marketing remark (204 chars)

   3 bed, 1.5 bath home in excellent location. Just a little TLC will go a long way. Newer furnace. Private back yard. 1 ++ stall garage. Sold AS-IS with all contents. Pole barn is NOT part of this property.

8. 2024-02-01
   soldstatus $150,000 Sold
9. 2024-02-01
   soldstatus $150,000 Sold
10. 2024-02-01
    soldstatus $150,000 Closed
11. 2023-12-12
    status Pending
12. 2023-12-12
    status Pending
13. 2023-12-12
    status Pending
14. 2023-12-11
    listed $150,000 Active
15. 2023-12-11
    listed $150,000 Active
16. 2023-12-11
    listed $150,000 Active
17. 2023-11-04
    status Pending
18. 2023-11-04
    status Pending
19. 2023-11-04
    historical
20. 2023-11-04
    historical
21. 2023-10-04
    price $175,000
22. 2023-10-03
    price $175,000
23. 2023-10-03
    price $175,000
24. 2023-07-29
    price $200,000
25. 2023-07-29
    price $200,000
26. 2023-07-29
    price $200,000
27. 2023-06-02
    listed $230,000 Active
28. 2023-06-02
    listed $230,000 Active
29. 2001-05-11
    soldstatus $84,000
30. 2001-05-11
    soldstatus $84,000
31. 2000-10-30
    listed $92,500
32. 2000-10-30
    listed $92,500

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 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: $27,513
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$1,466
• − Repairs & maintenance: −$2,201
• − Management: −$2,201
• − Depreciation: −$4,652
• Taxable income: $5,638
• Est. tax owed @ 24.0%: −$1,353
• After-tax cash flow: $6,455/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: Allegan Public Schools
• NCES district ID: 2602220
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $48,602
• Composite: 27.27/100
• National rank: #7008
• State rank: #338 of 540 in MI

Livability — Allegan

• Score: 70/100
• State rank: #318
• US rank: #7767

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Allegan, MI
• Population (ZIP): 18,394

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 5% Black 1%
• Common ancestry: Iranian 10% Romanian 4% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.08%
• Current HPI: 260.4976
• Rent YoY: —
• Metro: —
• 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

+72.9% since first listed

28 events — show timeline

• 2026-05-19 Listed $159,900 SW Michigan MLS
• 2026-05-19 Listed $159,900 REALCOMP
• 2026-05-19 Listed $159,900 MiRealSource-MiMLS
• 2024-02-01 Sold (MLS) $150,000 MiRealSource-MiMLS
• 2024-02-01 Sold (MLS) $150,000 SW Michigan MLS
• 2024-02-01 Sold (MLS) $150,000 REALCOMP
• 2023-12-12 Pending — MiRealSource-MiMLS
• 2023-12-12 Pending — REALCOMP
• 2023-12-12 Pending — SW Michigan MLS
• 2023-12-11 Listed $150,000 MiRealSource-MiMLS
• 2023-12-11 Listed $150,000 SW Michigan MLS
• 2023-12-11 Listed $150,000 REALCOMP
• 2023-11-04 Pending — REALCOMP
• 2023-11-04 Pending — MiRealSource-MiMLS
• 2023-11-04 Listing Removed — MiRealSource-MiMLS
• 2023-11-04 Listing Removed — REALCOMP
• 2023-10-04 Price Changed $175,000 MiRealSource-MiMLS
• 2023-10-03 Price Changed $175,000 REALCOMP
• 2023-10-03 Price Changed $175,000 SW Michigan MLS
• 2023-07-29 Price Changed $200,000 MiRealSource-MiMLS
• 2023-07-29 Price Changed $200,000 REALCOMP
• 2023-07-29 Price Changed $200,000 SW Michigan MLS
• 2023-06-02 Listed $230,000 MiRealSource-MiMLS
• 2023-06-02 Listed $230,000 REALCOMP
• 2001-05-11 Sold (MLS) $84,000 REALCOMP
• 2001-05-11 Sold (MLS) $84,000 SW Michigan MLS
• 2000-10-30 Listed $92,500 REALCOMP
• 2000-10-30 Listed $92,500 SW Michigan MLS