6372 Wright St · Comstock, MI 49048-3571

$64,500

3 bd · 1.0 ba · 1,680 sqft · Manufactured public records · 29 Days on market

Built 2003 10,018 sqft lot $38/sqft · 51% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0

Listing remarks MLS

3-bedroom, 2-bath fixer-upper packed with potential! This Kalamazoo property is perfect for investors or buyers looking to add value. Features include a 2-car detached garage and a spacious backyard--ideal for storage, projects, or outdoor living. Offering a functional layout and tons of upside with the right updates, this is a great opportunity whether you're flipping, renting, or creating your dream home. Don't miss your chance to capitalize on the potential!

Key facts

• Spacious backyard
• Functional layout
• Detached garage

Tags

• DETACHED GARAGE
• SPACIOUS BACKYARD
• FUNCTIONAL LAYOUT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $64k.

Deal economics

• At list price, monthly cash flow is $911 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $64k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Comstock Public Schools (suburban): math 18% / reading 32% proficiency, ranked #428 of 540 in MI (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 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).

Forward outlook

• In year one you build about $2k of equity ($446 loan paydown + $2k appreciation (3.0% local appreciation)).
• 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 + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,532 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 2.75% ✓
• Cap rate: 23.24%
• Cash-on-cash: 60.53%
• DSCR: 3.69
• GRM: 3.0

CMA / ARV

• ARV (median comp): $130,716
• List price: $64,500
• Delta: -50.66%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 65.4%
• Equity multiple: 4.65×
• Total profit: $65,845
• Equity at exit: $29,002

10-year hold

• IRR: 64.9%
• Equity multiple: 9.48×
• Total profit: $153,174
• Equity at exit: $44,696

Cash invested: $18,060 (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 49048-3571

• Active inventory: 1
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,775 medium
• Mortgage (P&I): −$338
• Tax from tax record: −$126 /mo · $1,514/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $911

Break-even live

Break-even rent $622

Max offer price $64,500

Occupancy floor 44%

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: $16,125
• Closing costs: $1,935
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
198 Rex Ave Unit 2 Kalamazoo, MI	4.0	2.0	1620	$1,775	$1.10	13d	1	1.20mi

Listing history 11 events

1. 2026-06-08
   listing id $64,500 Pending 29 DOM
2. 2026-05-15
   status Pending 465-char remark

   Show marketing remark (465 chars)

   3-bedroom, 2-bath fixer-upper packed with potential! This Kalamazoo property is perfect for investors or buyers looking to add value. Features include a 2-car detached garage and a spacious backyard--ideal for storage, projects, or outdoor living. Offering a functional layout and tons of upside with the right updates, this is a great opportunity whether you're flipping, renting, or creating your dream home. Don't miss your chance to capitalize on the potential!

3. 2026-05-15
   status Pending 465-char remark

   Show marketing remark (465 chars)

   3-bedroom, 2-bath fixer-upper packed with potential! This Kalamazoo property is perfect for investors or buyers looking to add value. Features include a 2-car detached garage and a spacious backyard--ideal for storage, projects, or outdoor living. Offering a functional layout and tons of upside with the right updates, this is a great opportunity whether you're flipping, renting, or creating your dream home. Don't miss your chance to capitalize on the potential!

4. 2026-05-15
   status Pending

   Show marketing remark (465 chars)

   3-bedroom, 2-bath fixer-upper packed with potential! This Kalamazoo property is perfect for investors or buyers looking to add value. Features include a 2-car detached garage and a spacious backyard--ideal for storage, projects, or outdoor living. Offering a functional layout and tons of upside with the right updates, this is a great opportunity whether you're flipping, renting, or creating your dream home. Don't miss your chance to capitalize on the potential!

5. 2026-04-25
   price $64,500 465-char remark

   Show marketing remark (465 chars)

   3-bedroom, 2-bath fixer-upper packed with potential! This Kalamazoo property is perfect for investors or buyers looking to add value. Features include a 2-car detached garage and a spacious backyard--ideal for storage, projects, or outdoor living. Offering a functional layout and tons of upside with the right updates, this is a great opportunity whether you're flipping, renting, or creating your dream home. Don't miss your chance to capitalize on the potential!

6. 2026-04-24
   price $64,500 465-char remark

   Show marketing remark (465 chars)

   3-bedroom, 2-bath fixer-upper packed with potential! This Kalamazoo property is perfect for investors or buyers looking to add value. Features include a 2-car detached garage and a spacious backyard--ideal for storage, projects, or outdoor living. Offering a functional layout and tons of upside with the right updates, this is a great opportunity whether you're flipping, renting, or creating your dream home. Don't miss your chance to capitalize on the potential!

7. 2026-04-24
   price $64,500

   Show marketing remark (465 chars)

   3-bedroom, 2-bath fixer-upper packed with potential! This Kalamazoo property is perfect for investors or buyers looking to add value. Features include a 2-car detached garage and a spacious backyard--ideal for storage, projects, or outdoor living. Offering a functional layout and tons of upside with the right updates, this is a great opportunity whether you're flipping, renting, or creating your dream home. Don't miss your chance to capitalize on the potential!

8. 2026-04-16
   listed $69,900 Active 465-char remark

   Show marketing remark (465 chars)

   3-bedroom, 2-bath fixer-upper packed with potential! This Kalamazoo property is perfect for investors or buyers looking to add value. Features include a 2-car detached garage and a spacious backyard--ideal for storage, projects, or outdoor living. Offering a functional layout and tons of upside with the right updates, this is a great opportunity whether you're flipping, renting, or creating your dream home. Don't miss your chance to capitalize on the potential!

9. 2026-04-16
   listed $69,900 Active 465-char remark

   Show marketing remark (465 chars)

   3-bedroom, 2-bath fixer-upper packed with potential! This Kalamazoo property is perfect for investors or buyers looking to add value. Features include a 2-car detached garage and a spacious backyard--ideal for storage, projects, or outdoor living. Offering a functional layout and tons of upside with the right updates, this is a great opportunity whether you're flipping, renting, or creating your dream home. Don't miss your chance to capitalize on the potential!

10. 2026-04-16
    listed $69,900 Active

    Show marketing remark (465 chars)

    3-bedroom, 2-bath fixer-upper packed with potential! This Kalamazoo property is perfect for investors or buyers looking to add value. Features include a 2-car detached garage and a spacious backyard--ideal for storage, projects, or outdoor living. Offering a functional layout and tons of upside with the right updates, this is a great opportunity whether you're flipping, renting, or creating your dream home. Don't miss your chance to capitalize on the potential!

11. 2011-04-15
    soldstatus $64,500

ⓘ 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: $1,514 · $126/mo
• Projected year-2 tax: $1,514 · $126/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $21,300
• − Mortgage interest: −$3,613
• − Property taxes: −$1,514
• − Insurance: −$322
• − Repairs & maintenance: −$1,704
• − Management: −$1,704
• − Depreciation: −$1,876
• Taxable income: $10,566
• Est. tax owed @ 24.0%: −$2,536
• After-tax cash flow: $8,396/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: Comstock Public Schools
• NCES district ID: 2610590
• Math proficiency: 18% ▼ -2.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $41,293
• Composite: 21.17/100
• National rank: #8423
• State rank: #428 of 540 in MI

Livability — Comstock

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

Census & demographics

No demographic data for this ZIP.

Market trends

• HPI YoY: —
• Current HPI: —
• 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

10 events — show timeline

• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-15 Pending — REALCOMP
• 2026-05-15 Pending — SW Michigan MLS
• 2026-04-25 Price Changed $64,500 MiRealSource-MiMLS
• 2026-04-24 Price Changed $64,500 REALCOMP
• 2026-04-24 Price Changed $64,500 SW Michigan MLS
• 2026-04-16 Listed $69,900 REALCOMP
• 2026-04-16 Listed $69,900 SW Michigan MLS
• 2026-04-16 Listed $69,900 MiRealSource-MiMLS
• 2011-04-15 Sold (Public Records) $64,500 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,514 · +5.3% YoY. Source: county tax records.