602 Kentucky Ave · South Haven, MI 49090

$325,000

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 26 Days on market

Built 1974 0.51 ac lot $298/sqft · 7% above area Est $608k · 47% under

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Why this score? — see what drove the F 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).

• ARV discount +15.0/15.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Cash flow +1.3/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located on the coveted north side of South Haven, this well-kept ranch home offers comfortable living on a spacious half-acre lot near the Black River marinas and the beautiful beaches of Lake Michigan. With two bedrooms and a full bath on the main level, the home is ideal for easy everyday living, making it an excellent option for those looking to downsize or secure a low-maintenance second home. The partially finished lower level provides added versatility with an egress window, second full bathroom, and a third bedroom-perfect for guests, a home office, recreation space, or extended stays. Enjoy the rare combination of generous outdoor space, flexible interior living areas, and a prime north side location just moments from marinas, beaches, and all that South Haven has to offer.

Key facts

• 0.51 acre lot
• 2 garage spots
• Built 1974

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Natural gas available and connected; Electricity available; Natural gas water heater
• Home design: Ranch style; Single-family residence; Built in 1974
• Construction: Aluminum siding; Composition roof; Full basement
• Exterior features: Wooded lot; Paved road access; Lake Michigan nearby

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; Bedroom 5
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Garage door opener; Replacement and insulated windows with window treatments; Five total rooms listed (not including bedrooms/bathrooms)
• Laundry & utility: Washer; Dryer; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative.
• To cash-flow at today's rent, offer at most $95k (70.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (66.4% below list).
• Recommended offer: $95k (70.9% below list) — sets the bar for cash-flow.
• Cap rate 1.5% vs local median 0.5% in South Haven — 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 69/100 on livability (#353 in MI) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A-; Watch: schools C-, crime F, commute F.
• South Haven Public Schools (town): math 20% / reading 37% proficiency, ranked #383 of 540 in MI (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 215 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 165 units permitted in Van Buren County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Van Buren County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 31y 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.

Recommended offer $94,707 (70.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.34% ✗
• Cap rate: 1.48%
• Cash-on-cash: -17.19%
• DSCR: 0.24
• GRM: 24.8

CMA / ARV

• ARV (median comp): $608,209
• List price: $325,000
• Delta: -46.56%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
884 Wells St	0.37mi	2/2.5 (-1)	1,124 (+3%)	4mo	$544,900	$485	64
260 Brockway Ave	0.43mi	3/1.0	988 (-10%)	9mo	$400,000	$405	57
33 Blue Star Hwy	0.59mi	3/1.0	1,086 (-0%)	24mo	$340,000	$313	52

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: -50.4%
• Equity multiple: -0.49×
• Total profit: $-135,726
• Equity at exit: $48,459

10-year hold

• IRR: —
• Equity multiple: -1.48×
• Total profit: $-225,235
• Equity at exit: $28,100

Cash invested: $91,000 (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 49090

• Active inventory: 215
• Price-to-rent: 24.8×

Monthly cashflow live

• Estimated rent: $1,091 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$326 /mo · $3,912/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $-1,304

Break-even live

Break-even rent $2,741

Max offer price $94,707

Occupancy floor —

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
04939 Cecilia Dr South Haven, MI	2.0	1.0	884	$990	$1.12	44d	2	1.20mi
1000 6th Ave South Haven, MI	2.0	1.0	864	$1,209	$1.40	44d	1	1.36mi

Listing history 28 events

1. 2026-05-04
   historical Accepting Backup Offers 792-char remark

   Show marketing remark (792 chars)

   Located on the coveted north side of South Haven, this well-kept ranch home offers comfortable living on a spacious half-acre lot near the Black River marinas and the beautiful beaches of Lake Michigan. With two bedrooms and a full bath on the main level, the home is ideal for easy everyday living, making it an excellent option for those looking to downsize or secure a low-maintenance second home. The partially finished lower level provides added versatility with an egress window, second full bathroom, and a third bedroom-perfect for guests, a home office, recreation space, or extended stays. Enjoy the rare combination of generous outdoor space, flexible interior living areas, and a prime north side location just moments from marinas, beaches, and all that South Haven has to offer.

2. 2026-05-04
   historical Active Under Contract 792-char remark

   Show marketing remark (792 chars)

   Located on the coveted north side of South Haven, this well-kept ranch home offers comfortable living on a spacious half-acre lot near the Black River marinas and the beautiful beaches of Lake Michigan. With two bedrooms and a full bath on the main level, the home is ideal for easy everyday living, making it an excellent option for those looking to downsize or secure a low-maintenance second home. The partially finished lower level provides added versatility with an egress window, second full bathroom, and a third bedroom-perfect for guests, a home office, recreation space, or extended stays. Enjoy the rare combination of generous outdoor space, flexible interior living areas, and a prime north side location just moments from marinas, beaches, and all that South Haven has to offer.

3. 2026-05-04
   historical Active - Backup Offers Accepted

   Show marketing remark (792 chars)

   Located on the coveted north side of South Haven, this well-kept ranch home offers comfortable living on a spacious half-acre lot near the Black River marinas and the beautiful beaches of Lake Michigan. With two bedrooms and a full bath on the main level, the home is ideal for easy everyday living, making it an excellent option for those looking to downsize or secure a low-maintenance second home. The partially finished lower level provides added versatility with an egress window, second full bathroom, and a third bedroom-perfect for guests, a home office, recreation space, or extended stays. Enjoy the rare combination of generous outdoor space, flexible interior living areas, and a prime north side location just moments from marinas, beaches, and all that South Haven has to offer.

4. 2026-04-30
   listed $325,000 Active 792-char remark

   Show marketing remark (792 chars)

   Located on the coveted north side of South Haven, this well-kept ranch home offers comfortable living on a spacious half-acre lot near the Black River marinas and the beautiful beaches of Lake Michigan. With two bedrooms and a full bath on the main level, the home is ideal for easy everyday living, making it an excellent option for those looking to downsize or secure a low-maintenance second home. The partially finished lower level provides added versatility with an egress window, second full bathroom, and a third bedroom-perfect for guests, a home office, recreation space, or extended stays. Enjoy the rare combination of generous outdoor space, flexible interior living areas, and a prime north side location just moments from marinas, beaches, and all that South Haven has to offer.

5. 2026-04-30
   listed $325,000 Active 792-char remark

   Show marketing remark (792 chars)

   Located on the coveted north side of South Haven, this well-kept ranch home offers comfortable living on a spacious half-acre lot near the Black River marinas and the beautiful beaches of Lake Michigan. With two bedrooms and a full bath on the main level, the home is ideal for easy everyday living, making it an excellent option for those looking to downsize or secure a low-maintenance second home. The partially finished lower level provides added versatility with an egress window, second full bathroom, and a third bedroom-perfect for guests, a home office, recreation space, or extended stays. Enjoy the rare combination of generous outdoor space, flexible interior living areas, and a prime north side location just moments from marinas, beaches, and all that South Haven has to offer.

6. 2026-04-30
   listed $325,000 Active

   Show marketing remark (792 chars)

   Located on the coveted north side of South Haven, this well-kept ranch home offers comfortable living on a spacious half-acre lot near the Black River marinas and the beautiful beaches of Lake Michigan. With two bedrooms and a full bath on the main level, the home is ideal for easy everyday living, making it an excellent option for those looking to downsize or secure a low-maintenance second home. The partially finished lower level provides added versatility with an egress window, second full bathroom, and a third bedroom-perfect for guests, a home office, recreation space, or extended stays. Enjoy the rare combination of generous outdoor space, flexible interior living areas, and a prime north side location just moments from marinas, beaches, and all that South Haven has to offer.

7. 2016-11-27
   historical
8. 2016-11-26
   historical
9. 2016-05-27
   listed $249,900 Active
10. 2016-05-26
    listed $249,900
11. 2006-05-01
    soldstatus $189,000
12. 2006-05-01
    soldstatus $189,000
13. 2006-02-25
    listed $199,000
14. 2006-02-25
    listed $199,000
15. 2006-02-25
    historical
16. 2006-02-25
    historical
17. 2004-12-22
    listed $229,000
18. 2004-12-22
    listed $229,000
19. 2002-08-09
    soldstatus $161,400
20. 2002-08-09
    soldstatus $161,400
21. 2000-10-03
    listed $169,900
22. 2000-10-03
    listed $169,900
23. 1998-06-18
    listed $130,000
24. 1998-06-18
    listed $130,000
25. 1995-06-06
    soldstatus $109,000
26. 1995-06-06
    soldstatus $109,000
27. 1995-04-14
    listed $109,000
28. 1995-04-14
    listed $109,000

ⓘ 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: $3,912 · $326/mo
• Projected year-2 tax: $4,459 · $372/mo
• Expected delta: +$546/yr (+$46/mo · 14.0%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,095
• − Mortgage interest: −$18,205
• − Property taxes: −$3,912
• − Insurance: −$1,625
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$9,455
• Taxable loss: −$22,196
• Est. tax savings @ 24.0%: +$5,327
• After-tax cash flow: $-10,317/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: South Haven Public Schools
• NCES district ID: 2632300
• Math proficiency: 20% ▼ -13.00%
• Reading proficiency: 37% ▼ -6.00%
• Median HH income: $44,080
• Composite: 24.33/100
• National rank: #7703
• State rank: #383 of 540 in MI

Livability — South Haven

• Score: 69/100
• State rank: #353
• US rank: #9003

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Haven, MI
• Population (ZIP): 13,562

Population outlook (Van Buren County) Hauer SSP2

• Today (2025): 71,479 people
• By 2030: 68,693 · -3.9%
• By 2040: 62,093 · -13.1%
• By 2050: 55,232 · -22.7%
• By 2075: 40,786 · -42.9%
• By 2100: 27,785 · -61.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 11% Hispanic / Latino 9% Black 5% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 6% Iranian 5% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 90% English-only · Spanish 6% German/W. Germanic 1% Other Asian/Pacific 1%

Political lean MEDSL · Van Buren

• 2024 margin: R (+15.1) · D 41.7% · R 56.9% · Other 1.4%
• 2008→2024 swing: -23.9pp toward R · 2008: 8.8pp · 2024: -15.1pp
• All cycles: 2024: R+15.1 2020: R+12.3 2016: R+13.9 2012: D+0.5 2008: D+8.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -286.78%
• Current HPI: 221.5371
• 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

+202.8% since first listed

35 events — show timeline

• 2026-06-02 Sold (Public Records) $330,000 Public Records
• 2026-05-29 Sold (MLS) $330,000 MiRealSource-MiMLS
• 2026-05-29 Sold (MLS) $330,000 SW Michigan MLS
• 2026-05-29 Sold (MLS) $330,000 REALCOMP
• 2026-05-26 Pending — REALCOMP
• 2026-05-26 Pending — MiRealSource-MiMLS
• 2026-05-26 Pending — SW Michigan MLS
• 2026-05-04 Contingent — MiRealSource-MiMLS
• 2026-05-04 Contingent — REALCOMP
• 2026-05-04 Contingent — SW Michigan MLS
• 2026-04-30 Listed $325,000 MiRealSource-MiMLS
• 2026-04-30 Listed $325,000 SW Michigan MLS
• 2026-04-30 Listed $325,000 REALCOMP
• 2016-11-27 Listing Removed — SW Michigan MLS
• 2016-11-26 Listing Removed — REALCOMP
• 2016-05-27 Listed $249,900 SW Michigan MLS
• 2016-05-26 Listed $249,900 REALCOMP
• 2006-05-01 Sold (MLS) $189,000 REALCOMP
• 2006-05-01 Sold (MLS) $189,000 SW Michigan MLS
• 2006-02-25 Listing Removed — REALCOMP
• 2006-02-25 Listing Removed — SW Michigan MLS
• 2006-02-25 Listed $199,000 REALCOMP
• 2006-02-25 Listed $199,000 SW Michigan MLS
• 2004-12-22 Listed $229,000 REALCOMP
• 2004-12-22 Listed $229,000 SW Michigan MLS
• 2002-08-09 Sold (MLS) $161,400 REALCOMP
• 2002-08-09 Sold (MLS) $161,400 SW Michigan MLS
• 2000-10-03 Listed $169,900 REALCOMP
• 2000-10-03 Listed $169,900 SW Michigan MLS
• 1998-06-18 Listed $130,000 SW Michigan MLS
• 1998-06-18 Listed $130,000 REALCOMP
• 1995-06-06 Sold (MLS) $109,000 REALCOMP
• 1995-06-06 Sold (MLS) $109,000 SW Michigan MLS
• 1995-04-14 Listed $109,000 REALCOMP
• 1995-04-14 Listed $109,000 SW Michigan MLS

Property tax history

-1.7%/yr

Latest (2025): $3,912 · +2.5% YoY. Source: county tax records.