1052 Woodward Ave · St. Joseph, MI 49022

$134,000

3 bd · 1.0 ba · 720 sqft · SingleFamily public records · 2 Days on market

Built 1952 8,555 sqft lot Est $110k · 22% 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 +18.5/30.0
• DSCR +5.8/10.0
• 1% rule +3.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1052 Woodward Ave, nestled just outside the Benton Harbor city limits in St. Joseph Township! This property offers the opportunity to own a Southwest Michigan home that is practically brand new from the studs out. Step inside to discover a completely revitalized interior. The heart of the home features a stunning, brand-new kitchen complete with all-new appliances. Enjoy the comfort of plush, newly installed carpeting throughout the living spaces and a fully remodeled, pristine bathroom. Peace of mind comes standard here, thanks to all-newer mechanicals including a new furnace in 2021 and a new water heater. The exterior has been completely transformed with a newer roof (2016), new gutters, soffits, fascia, and stylish new siding. With new doors and energy-efficient windows throughout, this home is completely turnkey and maintenance-free. Experience new construction peace of mind with classic charm. Don't miss this exceptionally renovated gem! MSHDA Eligible!!

Key facts

• New furnace
• Brand new kitchen
• All new appliances

Tags

• BRAND NEW KITCHEN
• ALL NEW APPLIANCES
• NEWLY INSTALLED CARPETING
• FULLY REMODELED BATHROOM
• NEW FURNACE
• NEW WATER HEATER

Property features AI

Exterior

• Utilities: Public water; Natural gas connected; Electric water heater
• Home design: Ranch-style single family home; One story
• Construction: Built in 1952; Vinyl siding; Shingle roof; Crawl space foundation
• Exterior features: Paved road access; 0.2-acre lot

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Replacement windows; 5 total rooms
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/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 $120k (10.5% below list).
• Recommended offer: $120k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 3.0% in St. Joseph — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Benton Harbor Area Schools (urban): math 4% / reading 7% proficiency, ranked #732 of 760 in MI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fair Plain Middle School (math 0% / reading 4%, grade F, #493 of 493 statewide, top 100%, 288 students, 97% FRL); Fair Plain Middle School (math 0% / reading 4%, grade F, #493 of 493 statewide, top 100%, 288 students, 97% FRL); Benton Harbor High School (math 5% / reading 5%, grade F, #704 of 713 statewide, top 100%, 495 students, 97% FRL).
• Market conditions: 184 active listings in the ZIP; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $926 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Berrien County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,898 (10.5% below list)

Questions for the listing agent

1. Built in 1952 — 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. 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: 0.89% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.05%
• DSCR: 1.18
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $110,160
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
244 Parker Ave	0.22mi	3/1.0	776 (+8%)	11mo	$118,900	$153	67
299 W May St	0.16mi	2/1.0 (-1)	737 (+2%)	20mo	$105,000	$142	67
157 Cross St	0.50mi	2/1.0 (-1)	730 (+1%)	17mo	$129,900	$178	56
479 Chippewa Rd	0.66mi	2/1.0 (-1)	686 (-5%)	14mo	$115,000	$168	45
1067 Mcalister Ave	0.54mi	2/1.0 (-1)	800 (+11%)	23mo	$65,000	$81	32

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: -10.0%
• Equity multiple: 0.63×
• Total profit: $-13,702
• Equity at exit: $19,980

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-1,744
• Equity at exit: $11,586

Cash invested: $37,520 (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 49022

• Active inventory: 184
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,199 medium
• Mortgage (P&I): −$703
• Tax from tax record: −$62 /mo · $745/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $127

Break-even live

Break-even rent $1,039

Max offer price $134,000

Occupancy floor 84%

Sensitivity live

Price	-10% $202	-5% $164	+0% $127	+5% $89	+10% $51
Rent	-10% $32	-5% $79	+0% $127	+5% $174	+10% $221
Rate	-1.0pp $194	-0.5pp $161	base $127	+0.5pp $92	+1.0pp $56

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-22
   remarks 699-char remark
2. 2026-06-22
   listed $134,000 Active 2 DOM

ⓘ 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: $745 · $62/mo
• Projected year-2 tax: $1,405 · $117/mo
• Expected delta: +$659/yr (+$55/mo · 88.4%)

ⓘ 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 · 13 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,388
• − Mortgage interest: −$7,506
• − Property taxes: −$745
• − Insurance: −$670
• − Repairs & maintenance: −$1,151
• − Management: −$1,151
• − Depreciation: −$3,898
• Taxable loss: −$734
• Est. tax savings @ 24.0%: +$176
• After-tax cash flow: $1,695/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: Benton Harbor Area Schools
• NCES district ID: 2604830
• Math proficiency: 4% ▬ 0.00%
• Reading proficiency: 7% ▬ 0.00%
• Median HH income: $27,038
• Composite: 7.53/100
• National rank: #14787
• State rank: #732 of 760 in MI

Livability — St. Joseph

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Fair Plain, MI
• Population (ZIP): 29,796

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 50% White 37% Hispanic / Latino 7% Two or more races 6% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -309.81%
• Current HPI: 209.9723
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-19 Listed $134,000 MiRealSource-MiMLS
• 2026-06-19 Listed $134,000 REALCOMP
• 2026-06-19 Listed $134,000 SW Michigan MLS

Property tax history

+1.0%/yr

Latest (2024): $745 · +4.8% YoY. Source: county tax records.