885 Mineral Ave · Benton Harbor, MI 49022

$29,000

3 bd · 1.0 ba · 1,287 sqft · SingleFamily public records · 27 Days on market

Built 1940 6,912 sqft lot $23/sqft · 65% below area ↓ 26% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

LARGE Price Reduction- HUD Home in Benton Harbor. Make this house your home by adding your own personal touches. 3 bedroom, 1 bath, full basement, enclosed front porch. Located within walking distance to parks & schools. Avail 4-29-26 Bids due by 11:59 PM CST then daily until sold. Uninsured FHA 203K only, no insured FHA terms. AS IS'' HUD property sold by electronic bid only. IE FHA Case #263-390540 203k eligible. Buyer to verify all information. HUD does NOT pay for title insurance. Raine makes no warranty as to the existence of mold in this property and is not liable for the potentially harmful effects thereof and makes no warranty as to the condition of the property. See attached MLS addendum regarding'' Buyer Select'' program & seller paid closing costs. See attached LBP & Disclosure for HUD Homes. LBP. Disclosure: Review property condition report.

Key facts

• Full basement
• Enclosed front porch
• 6,912 sq ft lot

Tags

• FULL BASEMENT
• ENCLOSED FRONT PORCH
• WALKING DISTANCE TO PARKS
• WALKING DISTANCE TO SCHOOLS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $29k.

Deal economics

• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $29k).
• Recommended offer: $29k (1.5% below list) — sets the bar for market timing.
• Cap rate 42.7% vs local median 7.4% in Benton Harbor — 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 55/100 on livability (#671 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools F, crime F, amenities F.
• 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.
• Market conditions: 179 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $200 of loan paydown is wiped out by about $870 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $28,565 (1.5% below list)

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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 4.81% ✓
• Cap rate: 42.69%
• Cash-on-cash: 129.98%
• DSCR: 6.78
• GRM: 1.7

CMA / ARV

• ARV (median comp): $66,447
• List price: $29,000
• Delta: -56.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
815 Pitkins Ave	0.16mi	3/2.0	1,289 (+0%)	14mo	$115,000	$89	76
864 Highland Ave	0.40mi	3/2.0	1,196 (-7%)	4mo	$60,000	$50	62
199 S Mccord St	0.33mi	3/1.0	1,245 (-3%)	23mo	$97,000	$78	60
688 S Fair Ave	0.34mi	3/1.0	1,144 (-11%)	8mo	$79,900	$70	59
810 Nathaniel Wells Dr	0.17mi	2/1.0 (-1)	1,120 (-13%)	15mo	$16,000	$14	53
685 Superior St	0.62mi	3/1.0	1,309 (+2%)	19mo	$55,500	$42	53
810 Nathaniel Wells Dr	0.19mi	2/1.0 (-1)	1,120 (-13%)	15mo	$16,000	$14	52
680 E Empire Ave	0.65mi	3/2.0	1,329 (+3%)	16mo	$100,000	$75	47
367 High St	0.68mi	3/1.0	1,374 (+7%)	22mo	$45,000	$33	39
1235 E Main St	0.71mi	4/1.0 (+1)	1,248 (-3%)	23mo	$155,000	$124	38
950 Union Ave	0.70mi	2/1.5 (-1)	1,332 (+4%)	23mo	$50,000	$38	35
955 Jennings Ave	0.73mi	4/1.0 (+1)	1,461 (+14%)	16mo	$99,900	$68	25

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: —
• Equity multiple: 7.32×
• Total profit: $51,351
• Equity at exit: $4,324

10-year hold

• IRR: —
• Equity multiple: 15.41×
• Total profit: $116,985
• Equity at exit: $2,507

Cash invested: $8,120 (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: 179
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,394 medium
• Mortgage (P&I): −$152
• Tax from tax record: −$58 /mo · $694/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $880

Break-even live

Break-even rent $281

Max offer price $29,000

Occupancy floor 32%

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
797 Ogden Ave Benton Harbor, MI	2.0	1.0	1000	$900	$0.90	43d	1	0.65mi
968 Chicago Ave Benton Harbor, MI	4.0	2.0	1350	$1,800	$1.33	43d	1	0.66mi

Listing history 9 events

1. 2026-05-05
   status Pending 883-char remark

   Show marketing remark (883 chars)

   LARGE Price Reduction- HUD Home in Benton Harbor. Make this house your home by adding your own personal touches. 3 bedroom, 1 bath, full basement, enclosed front porch. Located within walking distance to parks & schools. Avail 4-29-26 Bids due by 11:59 PM CST then daily until sold. Uninsured FHA 203K only, no insured FHA terms. AS IS'' HUD property sold by electronic bid only. IE FHA Case #263-390540 203k eligible. Buyer to verify all information. HUD does NOT pay for title insurance. Raine makes no warranty as to the existence of mold in this property and is not liable for the potentially harmful effects thereof and makes no warranty as to the condition of the property. See attached MLS addendum regarding'' Buyer Select'' program & seller paid closing costs. See attached LBP & Disclosure for HUD Homes. LBP. Disclosure: Review property condition report.

2. 2026-05-05
   status Pending 883-char remark

   Show marketing remark (883 chars)

   LARGE Price Reduction- HUD Home in Benton Harbor. Make this house your home by adding your own personal touches. 3 bedroom, 1 bath, full basement, enclosed front porch. Located within walking distance to parks & schools. Avail 4-29-26 Bids due by 11:59 PM CST then daily until sold. Uninsured FHA 203K only, no insured FHA terms. AS IS'' HUD property sold by electronic bid only. IE FHA Case #263-390540 203k eligible. Buyer to verify all information. HUD does NOT pay for title insurance. Raine makes no warranty as to the existence of mold in this property and is not liable for the potentially harmful effects thereof and makes no warranty as to the condition of the property. See attached MLS addendum regarding'' Buyer Select'' program & seller paid closing costs. See attached LBP & Disclosure for HUD Homes. LBP. Disclosure: Review property condition report.

3. 2026-05-05
   status Pending

   Show marketing remark (883 chars)

   LARGE Price Reduction- HUD Home in Benton Harbor. Make this house your home by adding your own personal touches. 3 bedroom, 1 bath, full basement, enclosed front porch. Located within walking distance to parks & schools. Avail 4-29-26 Bids due by 11:59 PM CST then daily until sold. Uninsured FHA 203K only, no insured FHA terms. AS IS'' HUD property sold by electronic bid only. IE FHA Case #263-390540 203k eligible. Buyer to verify all information. HUD does NOT pay for title insurance. Raine makes no warranty as to the existence of mold in this property and is not liable for the potentially harmful effects thereof and makes no warranty as to the condition of the property. See attached MLS addendum regarding'' Buyer Select'' program & seller paid closing costs. See attached LBP & Disclosure for HUD Homes. LBP. Disclosure: Review property condition report.

4. 2026-04-30
   price $29,000 883-char remark

   Show marketing remark (883 chars)

   LARGE Price Reduction- HUD Home in Benton Harbor. Make this house your home by adding your own personal touches. 3 bedroom, 1 bath, full basement, enclosed front porch. Located within walking distance to parks & schools. Avail 4-29-26 Bids due by 11:59 PM CST then daily until sold. Uninsured FHA 203K only, no insured FHA terms. AS IS'' HUD property sold by electronic bid only. IE FHA Case #263-390540 203k eligible. Buyer to verify all information. HUD does NOT pay for title insurance. Raine makes no warranty as to the existence of mold in this property and is not liable for the potentially harmful effects thereof and makes no warranty as to the condition of the property. See attached MLS addendum regarding'' Buyer Select'' program & seller paid closing costs. See attached LBP & Disclosure for HUD Homes. LBP. Disclosure: Review property condition report.

5. 2026-04-30
   price $29,000 883-char remark

   Show marketing remark (883 chars)

   LARGE Price Reduction- HUD Home in Benton Harbor. Make this house your home by adding your own personal touches. 3 bedroom, 1 bath, full basement, enclosed front porch. Located within walking distance to parks & schools. Avail 4-29-26 Bids due by 11:59 PM CST then daily until sold. Uninsured FHA 203K only, no insured FHA terms. AS IS'' HUD property sold by electronic bid only. IE FHA Case #263-390540 203k eligible. Buyer to verify all information. HUD does NOT pay for title insurance. Raine makes no warranty as to the existence of mold in this property and is not liable for the potentially harmful effects thereof and makes no warranty as to the condition of the property. See attached MLS addendum regarding'' Buyer Select'' program & seller paid closing costs. See attached LBP & Disclosure for HUD Homes. LBP. Disclosure: Review property condition report.

6. 2026-04-30
   price $29,000

   Show marketing remark (883 chars)

   LARGE Price Reduction- HUD Home in Benton Harbor. Make this house your home by adding your own personal touches. 3 bedroom, 1 bath, full basement, enclosed front porch. Located within walking distance to parks & schools. Avail 4-29-26 Bids due by 11:59 PM CST then daily until sold. Uninsured FHA 203K only, no insured FHA terms. AS IS'' HUD property sold by electronic bid only. IE FHA Case #263-390540 203k eligible. Buyer to verify all information. HUD does NOT pay for title insurance. Raine makes no warranty as to the existence of mold in this property and is not liable for the potentially harmful effects thereof and makes no warranty as to the condition of the property. See attached MLS addendum regarding'' Buyer Select'' program & seller paid closing costs. See attached LBP & Disclosure for HUD Homes. LBP. Disclosure: Review property condition report.

7. 2026-04-08
   listed $39,000 Active 883-char remark

   Show marketing remark (883 chars)

   LARGE Price Reduction- HUD Home in Benton Harbor. Make this house your home by adding your own personal touches. 3 bedroom, 1 bath, full basement, enclosed front porch. Located within walking distance to parks & schools. Avail 4-29-26 Bids due by 11:59 PM CST then daily until sold. Uninsured FHA 203K only, no insured FHA terms. AS IS'' HUD property sold by electronic bid only. IE FHA Case #263-390540 203k eligible. Buyer to verify all information. HUD does NOT pay for title insurance. Raine makes no warranty as to the existence of mold in this property and is not liable for the potentially harmful effects thereof and makes no warranty as to the condition of the property. See attached MLS addendum regarding'' Buyer Select'' program & seller paid closing costs. See attached LBP & Disclosure for HUD Homes. LBP. Disclosure: Review property condition report.

8. 2026-04-07
   listed $39,000 Active 883-char remark

   Show marketing remark (883 chars)

   LARGE Price Reduction- HUD Home in Benton Harbor. Make this house your home by adding your own personal touches. 3 bedroom, 1 bath, full basement, enclosed front porch. Located within walking distance to parks & schools. Avail 4-29-26 Bids due by 11:59 PM CST then daily until sold. Uninsured FHA 203K only, no insured FHA terms. AS IS'' HUD property sold by electronic bid only. IE FHA Case #263-390540 203k eligible. Buyer to verify all information. HUD does NOT pay for title insurance. Raine makes no warranty as to the existence of mold in this property and is not liable for the potentially harmful effects thereof and makes no warranty as to the condition of the property. See attached MLS addendum regarding'' Buyer Select'' program & seller paid closing costs. See attached LBP & Disclosure for HUD Homes. LBP. Disclosure: Review property condition report.

9. 2026-04-07
   listed $39,000 Active

   Show marketing remark (883 chars)

   LARGE Price Reduction- HUD Home in Benton Harbor. Make this house your home by adding your own personal touches. 3 bedroom, 1 bath, full basement, enclosed front porch. Located within walking distance to parks & schools. Avail 4-29-26 Bids due by 11:59 PM CST then daily until sold. Uninsured FHA 203K only, no insured FHA terms. AS IS'' HUD property sold by electronic bid only. IE FHA Case #263-390540 203k eligible. Buyer to verify all information. HUD does NOT pay for title insurance. Raine makes no warranty as to the existence of mold in this property and is not liable for the potentially harmful effects thereof and makes no warranty as to the condition of the property. See attached MLS addendum regarding'' Buyer Select'' program & seller paid closing costs. See attached LBP & Disclosure for HUD Homes. LBP. Disclosure: Review property condition report.

ⓘ 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: $694 · $58/mo
• Projected year-2 tax: $694 · $58/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 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 · 14 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: $16,732
• − Mortgage interest: −$1,624
• − Property taxes: −$694
• − Insurance: −$145
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$844
• Taxable income: $10,748
• Est. tax owed @ 24.0%: −$2,579
• After-tax cash flow: $7,975/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 — Benton Harbor

• Score: 55/100
• State rank: #671
• US rank: #23724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benton Harbor, 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

-25.6% since first listed

9 events — show timeline

• 2026-05-05 Pending — REALCOMP
• 2026-05-05 Pending — MiRealSource-MiMLS
• 2026-05-05 Pending — SW Michigan MLS
• 2026-04-30 Price Changed $29,000 MiRealSource-MiMLS
• 2026-04-30 Price Changed $29,000 REALCOMP
• 2026-04-30 Price Changed $29,000 SW Michigan MLS
• 2026-04-08 Listed $39,000 REALCOMP
• 2026-04-07 Listed $39,000 SW Michigan MLS
• 2026-04-07 Listed $39,000 MiRealSource-MiMLS

Property tax history

+3.6%/yr

Latest (2024): $694 · +4.2% YoY. Source: county tax records.