309 N 8th St · Kalamazoo, MI 49009

$139,900

3 bd · 1.0 ba · 904 sqft · SingleFamily public records · 1 Days on market

Built 1945 1.00 ac lot

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Why this score? — see what drove the C- 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 +20.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• 1% rule +5.1/10.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +1.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home has one acre with a garage and an outbuilding. Great Oshtemo location close to shopping, parks, township facilities, restaurants. plus other activities. Home needs a little updating but is in great condition to make this a place to live. seller has lived here since 1950's:

Key facts

• Close to parks
• Close to restaurants
• Outbuilding

Tags

• ONE ACRE
• OSHTEMO LOCATION
• CLOSE TO SHOPPING
• CLOSE TO PARKS
• CLOSE TO RESTAURANTS
• OUTBUILDING

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water
• Home design: Traditional-style single-family home; One-story (living area listed as 904)
• Construction: Built in 1945
• Exterior features: Vinyl siding; Property sits on 1.0 acre lot; Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Cap rate 7.9% vs local median 3.5% in Kalamazoo — 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 76/100 on livability (#141 in MI, #3,492 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• 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.
• Market conditions: Rents falling (-5.0%/yr); 378 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k 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

• Only 1 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 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1945 — 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: 1.01% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.87%
• DSCR: 1.26
• GRM: 8.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.63×
• Total profit: $-14,601
• Equity at exit: $20,860

10-year hold

• IRR: -5.9%
• Equity multiple: 0.67×
• Total profit: $-12,985
• Equity at exit: $12,096

Cash invested: $39,172 (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 49009

• Rents YoY: -5.0%
• Active inventory: 378
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,409 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$130 /mo · $1,558/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $192

Break-even live

Break-even rent $1,167

Max offer price $139,900

Occupancy floor 81%

Sensitivity live

Price	-10% $271	-5% $231	+0% $192	+5% $152	+10% $112
Rent	-10% $80	-5% $136	+0% $192	+5% $247	+10% $303
Rate	-1.0pp $262	-0.5pp $227	base $192	+0.5pp $155	+1.0pp $119

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6660 W Main St Kalamazoo, MI	2.0	1.0	1025	$1,295	$1.26	14d	1	0.69mi
1410 S 9th St Kalamazoo, MI	2.0–3.0	2.0	1204	$1,719	$1.43	22d	1	1.03mi
5900 Copper Beech Blvd Kalamazoo, MI	1.0–4.0	1.0–4.5	1325	$916	$0.69	14d	1	1.25mi

Listing history 3 events

1. 2026-06-13
   status $139,900 Pending 1 DOM
2. 2026-06-10
   remarks 278-char remark
3. 2026-06-10
   listed $139,900 Active 1 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: $1,558 · $130/mo
• Projected year-2 tax: $1,856 · $155/mo
• Expected delta: +$298/yr (+$25/mo · 19.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 15 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: $16,913
• − Mortgage interest: −$7,837
• − Property taxes: −$1,558
• − Insurance: −$700
• − Repairs & maintenance: −$1,353
• − Management: −$1,353
• − Depreciation: −$4,070
• Taxable income: $43
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $2,289/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 — Kalamazoo

• Score: 76/100
• State rank: #141
• US rank: #3492

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kalamazoo County · 224,317 people
• City population: 121,397
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 47,971
• Household income: $80,930
• Rent vs Own: 35.6% rent · 64.4% own
• Severe rent burden: 1579.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 9% Black 8% Asian 5% Hispanic / Latino 4%
• Common ancestry: Iranian 9% Romanian 6% Lithuanian 2%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Other Indo-European 3% Arabic 2% Spanish 2%

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: ▼ -207.34%
• Current HPI: 209.5649
• Rent YoY: ▼ -4.96%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-09 Listed $139,900 MiRealSource-MiMLS
• 2026-06-09 Listed $139,900 REALCOMP
• 2026-06-09 Listed $139,900 SW Michigan MLS

Property tax history

+11.3%/yr

Latest (2025): $1,558 · +3.0% YoY. Source: county tax records.