1212 Washington Ave · Kalamazoo, MI 49001

$129,900

3 bd · 1.0 ba · 1,602 sqft · SingleFamily public records · 25 Days on market

Built 1895 4,356 sqft lot Est $176k · 26% under

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Why this score? — see what drove the A- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPEN HOUSE TUESDAY 5/12/26, 5-7 PM 1212 Washington Ave, Kalamazoo, MI 49001Charming 3-bedroom, 2-bathroom home for sale. The main floor features a bedroom and full bathroom, with two additional bedrooms upstairs, including a primary suite with its own private bathroom. This home has many updates, including vinyl siding, laminate flooring, and an updated kitchen and bathrooms. Appliances are included--even the main-floor washer and dryer. Candidate for the low down payment FHA 203k Loan Program. Richard Stewartwww. REOmamma.com 269-345-7000

Key facts

• 4,356 sq ft lot
• Built 1895
• Listed 25 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional single-family residence; Living area approximately 1,602
• Construction: Built in 1895; Vinyl siding
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Michigan-style basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% vs local median 4.1% 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 rising fast (+6.4%/yr); 109 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 43% of the median local income ($56k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 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.
• At projected returns (-3.0% appreciation + 6.4% rent growth), your $36k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 35y 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: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Built in 1895 — 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: 1.55% ✓
• Cap rate: 12.43%
• Cash-on-cash: 21.94%
• DSCR: 1.98
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $176,220
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1113 Egleston Ave	0.14mi	4/1.5 (+1)	1,611 (+1%)	1mo	$180,000	$112	84
1005 Washington Ave	0.14mi	4/1.5 (+1)	1,600 (-0%)	6mo	$109,900	$69	81
1006 Hays Park Ave	0.30mi	4/2.0 (+1)	1,613 (+1%)	1mo	$185,000	$115	75
1510 Egleston Ave	0.24mi	4/2.0 (+1)	1,566 (-2%)	1mo	$200,000	$128	75
1324 Jackson St	0.30mi	3/2.0	1,630 (+2%)	8mo	$200,000	$123	72
923 Stockbridge Ave	0.17mi	3/2.0	1,461 (-9%)	3mo	$148,000	$101	71
901 Clarence St	0.33mi	3/1.5	1,494 (-7%)	3mo	$174,900	$117	69
1012 Mills St	0.23mi	2/1.5 (-1)	1,485 (-7%)	2mo	$162,900	$110	68
1116 March St	0.15mi	3/2.0	1,396 (-13%)	4mo	$69,900	$50	64
855 Lay Blvd	0.42mi	3/1.5	1,510 (-6%)	6mo	$160,000	$106	64
1109 Hays Park Ave	0.26mi	4/2.0 (+1)	1,760 (+10%)	7mo	$75,000	$43	57
719 Millard Ct	0.61mi	4/1.0 (+1)	1,522 (-5%)	2mo	$165,000	$108	57

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 · 6.41% rent growth · sell at horizon

5-year hold

• IRR: 18.5%
• Equity multiple: 1.78×
• Total profit: $28,472
• Equity at exit: $19,369

10-year hold

• IRR: 29.2%
• Equity multiple: 4.05×
• Total profit: $110,890
• Equity at exit: $11,231

Cash invested: $36,372 (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 49001

• Rents YoY: 6.4%
• Active inventory: 109
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,009 high
• Mortgage (P&I): −$681
• Tax from tax record: −$187 /mo · $2,247/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $665

Break-even live

Break-even rent $1,168

Max offer price $129,900

Occupancy floor 62%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	13d	2	1.04mi
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	21d	1	1.07mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	21d	1	1.20mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	13d	1	1.24mi
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	13d	12	1.36mi
525 E Ransom St Kalamazoo, MI	1.0–2.0	1.0–2.0	807	$1,625	$2.01	21d	1	1.38mi
23 Ridgewood St Kalamazoo, MI	2.0	1.0	1100	$1,295	$1.18	21d	1	1.39mi

Listing history 44 events

1. 2026-06-02
   status $129,900 Pending 25 DOM
2. 2026-06-01
   days on market $129,900 Active 25 DOM
3. 2026-05-31
   days on market $129,900 Active 24 DOM
4. 2026-05-30
   days on market $129,900 Active 23 DOM
5. 2026-05-05
   listed $129,900 Active 547-char remark

   Show marketing remark (545 chars)

   OPEN HOUSE TUESDAY 5/12/26, 5-7 PM 1212 Washington Ave, Kalamazoo, MI 49001Charming 3-bedroom, 2-bathroom home for sale. The main floor features a bedroom and full bathroom, with two additional bedrooms upstairs, including a primary suite with its own private bathroom. This home has many updates, including vinyl siding, laminate flooring, and an updated kitchen and bathrooms. Appliances are included--even the main-floor washer and dryer. Candidate for the low down payment FHA 203k Loan Program. Richard Stewartwww. REOmamma.com 269-345-7000

6. 2026-05-05
   listed $129,900 Active 545-char remark

   Show marketing remark (545 chars)

   OPEN HOUSE TUESDAY 5/12/26, 5-7 PM 1212 Washington Ave, Kalamazoo, MI 49001Charming 3-bedroom, 2-bathroom home for sale. The main floor features a bedroom and full bathroom, with two additional bedrooms upstairs, including a primary suite with its own private bathroom. This home has many updates, including vinyl siding, laminate flooring, and an updated kitchen and bathrooms. Appliances are included--even the main-floor washer and dryer. Candidate for the low down payment FHA 203k Loan Program. Richard Stewartwww. REOmamma.com 269-345-7000

7. 2026-05-05
   listed $129,900 Active

   Show marketing remark (545 chars)

   OPEN HOUSE TUESDAY 5/12/26, 5-7 PM 1212 Washington Ave, Kalamazoo, MI 49001Charming 3-bedroom, 2-bathroom home for sale. The main floor features a bedroom and full bathroom, with two additional bedrooms upstairs, including a primary suite with its own private bathroom. This home has many updates, including vinyl siding, laminate flooring, and an updated kitchen and bathrooms. Appliances are included--even the main-floor washer and dryer. Candidate for the low down payment FHA 203k Loan Program. Richard Stewartwww. REOmamma.com 269-345-7000

8. 2026-03-05
   historical
9. 2026-03-04
   historical
10. 2025-10-17
    price $150,000
11. 2025-10-17
    price $150,000
12. 2025-10-17
    price $150,000
13. 2025-09-23
    price $157,500
14. 2025-09-22
    price $157,500
15. 2025-09-22
    price $157,500
16. 2025-09-03
    listed $162,500 Active
17. 2025-09-03
    listed $162,500 Active
18. 2021-10-07
    soldstatus $135,000 Sold
19. 2021-10-07
    soldstatus $135,000 Sold
20. 2021-08-17
    status Pending
21. 2021-08-17
    status Pending
22. 2021-07-24
    price $142,000
23. 2021-07-24
    price $142,000
24. 2021-07-10
    price $143,000
25. 2021-07-09
    price $143,000
26. 2021-06-28
    price $147,900
27. 2021-06-28
    price $147,900
28. 2021-06-16
    price $152,900
29. 2021-06-16
    price $152,900
30. 2021-06-07
    listed $160,000 Active
31. 2021-06-07
    listed $160,000 Active
32. 2021-06-07
    listed $142,000
33. 2014-09-25
    historical
34. 2014-09-15
    historical
35. 2005-03-08
    historical
36. 2004-09-06
    listed $58,900
37. 2004-09-06
    listed $58,900
38. 2000-06-14
    listed $35,000
39. 2000-06-14
    listed $35,000
40. 1992-08-21
    soldstatus $21,200
41. 1992-05-23
    listed $1
42. 1992-04-07
    historical
43. 1991-10-07
    listed $19,900
44. 1991-10-07
    listed $19,900

ⓘ 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: $2,247 · $187/mo
• Projected year-2 tax: $2,247 · $187/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 · 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: $24,113
• − Mortgage interest: −$7,276
• − Property taxes: −$2,247
• − Insurance: −$650
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − Depreciation: −$3,779
• Taxable income: $6,303
• Est. tax owed @ 24.0%: −$1,513
• After-tax cash flow: $6,466/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

• Census place: Kalamazoo, MI
• County: Kalamazoo County · 224,317 people
• City population: 121,397
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 20,946
• Household income: $56,432
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 15% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 6% Iranian 4% Slovak 3%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 11% Arabic 2% Other Indo-European 1%

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: ▼ -264.90%
• Current HPI: 206.9355
• Rent YoY: ▲ 6.41%
• 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

+552.8% since first listed

40 events — show timeline

• 2026-05-05 Listed $129,900 SW Michigan MLS
• 2026-05-05 Listed $129,900 MiRealSource-MiMLS
• 2026-05-05 Listed $129,900 REALCOMP
• 2026-03-05 Listing Removed — MiRealSource-MiMLS
• 2026-03-04 Listing Removed — REALCOMP
• 2025-10-17 Price Changed $150,000 MiRealSource-MiMLS
• 2025-10-17 Price Changed $150,000 REALCOMP
• 2025-10-17 Price Changed $150,000 SW Michigan MLS
• 2025-09-23 Price Changed $157,500 MiRealSource-MiMLS
• 2025-09-22 Price Changed $157,500 REALCOMP
• 2025-09-22 Price Changed $157,500 SW Michigan MLS
• 2025-09-03 Listed $162,500 REALCOMP
• 2025-09-03 Listed $162,500 MiRealSource-MiMLS
• 2021-10-07 Sold (MLS) $135,000 SW Michigan MLS
• 2021-10-07 Sold (MLS) $135,000 REALCOMP
• 2021-08-17 Pending — REALCOMP
• 2021-08-17 Pending — SW Michigan MLS
• 2021-07-24 Price Changed $142,000 REALCOMP
• 2021-07-24 Price Changed $142,000 SW Michigan MLS
• 2021-07-10 Price Changed $143,000 REALCOMP
• 2021-07-09 Price Changed $143,000 SW Michigan MLS
• 2021-06-28 Price Changed $147,900 REALCOMP
• 2021-06-28 Price Changed $147,900 SW Michigan MLS
• 2021-06-16 Price Changed $152,900 REALCOMP
• 2021-06-16 Price Changed $152,900 SW Michigan MLS
• 2021-06-07 Listed $142,000 MiRealSource-MiMLS
• 2021-06-07 Listed $160,000 SW Michigan MLS
• 2021-06-07 Listed $160,000 REALCOMP
• 2014-09-25 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2005-03-08 Listing Removed — REALCOMP
• 2004-09-06 Listed $58,900 REALCOMP
• 2004-09-06 Listed $58,900 SW Michigan MLS
• 2000-06-14 Listed $35,000 SW Michigan MLS
• 2000-06-14 Listed $35,000 REALCOMP
• 1992-08-21 Sold (MLS) $21,200 REALCOMP
• 1992-05-23 Listed $1 REALCOMP
• 1992-04-07 Listing Removed — REALCOMP
• 1991-10-07 Listed $19,900 REALCOMP
• 1991-10-07 Listed $19,900 SW Michigan MLS

Property tax history

+5.3%/yr

Latest (2025): $2,247 · -3.7% YoY. Source: county tax records.