151 N 21st St · Battle Creek, MI 49015

$135,000

3 bd · 1.0 ba · 720 sqft · SingleFamily public records · 28 Days on market

Built 1940 8,799 sqft lot $188/sqft · 18% above area Est $163k · 17% under

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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 +20.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +5.2/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 151 N 21st St in the desirable Lakeview School District! This move in ready 3 bedroom home offers incredible value at just $135,000 and can be more affordable than renting. Inside you'll find an updated kitchen and bathroom, beautiful hardwood floors, and a functional layout perfect for everyday living. Major updates including a newer roof and newer furnace help provide peace of mind from day one. The massive fenced backyard offers plenty of space for pets, entertaining, or relaxing outdoors. The finished lower level with egress window adds valuable additional living space perfect for a rec room, home office, workout area, or guest setup. Conveniently located near schools, shopping, restaurants, and more, this home is a fantastic opportunity for first time buyers, downsizers, or anyone looking for affordable homeownership in Lakeview. Homes at this price point do not last long. Schedule your private showing today!

Key facts

• Newer furnace
• Newer roof
• Newer water heater

Tags

• LAKEVIEW SCHOOL DISTRICT
• HARDWOOD FLOORS
• UPDATED BATHROOM
• NEWER ROOF
• NEWER FURNACE
• NEWER WATER HEATER

Property features AI

Exterior

• Utilities: Public water
• Home design: Ranch-style single-family home; One story; Living area listed at 1,028
• Construction: Brick construction; Composition roof; Built in 1940; Foundation includes a full basement
• Exterior features: Paved road access; 0.2-acre lot

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom (9 x 10); Bedroom 2 (9 x 10); Bedroom 3 (10 x 12) with egress window; Bedroom 4; Bedroom 5
• Bathrooms: One full bathroom; Primary bathroom (5 x 7); Additional bathroom(s)
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Replacement windows; Full basement
• Laundry & utility: Washer; Dryer; Dedicated laundry room (10 x 12)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 5.3% in Battle Creek — 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 73/100 on livability (#198 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities C-, crime F.
• Lakeview School District (Calhoun) (urban): math 28% / reading 40% proficiency, ranked #291 of 540 in MI (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+11.1%/yr); 168 active listings in the ZIP; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Calhoun 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 + 8.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 32y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $89k; list at $135k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $132,975 (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. 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: 1.02% ✓
• Cap rate: 7.77%
• Cash-on-cash: 5.29%
• DSCR: 1.24
• GRM: 8.2

CMA / ARV

• ARV (median comp): $163,152
• List price: $135,000
• Delta: -17.26%
• 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
105 N Woodrow Ave	0.30mi	2/1.0 (-1)	720 (0%)	3mo	$143,000	$199	79
100 Wiltshire Ave	0.43mi	3/1.0	721 (+0%)	2mo	$118,500	$164	78
136 Wiltshire Ave	0.42mi	2/1.0 (-1)	720 (0%)	1mo	$165,000	$229	75
1243 W Territorial Rd W	0.41mi	2/1.0 (-1)	744 (+3%)	1mo	$120,000	$161	70
36 N 21st St N	0.27mi	2/1.0 (-1)	767 (+6%)	7mo	$157,900	$206	66
241 N 26th St	0.40mi	2/1.0 (-1)	672 (-7%)	1mo	$125,000	$186	65
1225 W Territorial Rd W	0.41mi	2/1.0 (-1)	672 (-7%)	3mo	$94,050	$140	63
754 Andrus St	0.22mi	3/2.0	816 (+13%)	1mo	$95,000	$116	62
112 Wiltshire Ave	0.42mi	2/1.0 (-1)	660 (-8%)	2mo	$149,900	$227	60
113 N 31st St	0.63mi	2/1.0 (-1)	709 (-2%)	4mo	$165,000	$233	60
75 N 32nd St	0.71mi	2/1.0 (-1)	768 (+7%)	5mo	$135,000	$176	47
289 Eldred St	0.60mi	2/1.0 (-1)	620 (-14%)	7mo	$122,000	$197	38

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.7%
• Equity multiple: 0.89×
• Total profit: $-4,010
• Equity at exit: $20,129

10-year hold

• IRR: 11.8%
• Equity multiple: 2.14×
• Total profit: $43,194
• Equity at exit: $11,672

Cash invested: $37,800 (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 49015

• Rents YoY: 11.1%
• Active inventory: 168
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,371 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$153 /mo · $1,831/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $167

Break-even live

Break-even rent $1,160

Max offer price $135,000

Occupancy floor 83%

Sensitivity live

Price	-10% $243	-5% $205	+0% $167	+5% $128	+10% $90
Rent	-10% $58	-5% $112	+0% $167	+5% $221	+10% $275
Rate	-1.0pp $235	-0.5pp $201	base $167	+0.5pp $132	+1.0pp $96

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-05-10
   price $139,900 814-char remark

   Show marketing remark (938 chars)

   Welcome to 151 N 21st St in the desirable Lakeview School District! This move in ready 3 bedroom home offers incredible value at just $135,000 and can be more affordable than renting. Inside you'll find an updated kitchen and bathroom, beautiful hardwood floors, and a functional layout perfect for everyday living. Major updates including a newer roof and newer furnace help provide peace of mind from day one. The massive fenced backyard offers plenty of space for pets, entertaining, or relaxing outdoors. The finished lower level with egress window adds valuable additional living space perfect for a rec room, home office, workout area, or guest setup. Conveniently located near schools, shopping, restaurants, and more, this home is a fantastic opportunity for first time buyers, downsizers, or anyone looking for affordable homeownership in Lakeview. Homes at this price point do not last long. Schedule your private showing today!

2. 2026-05-09
   price $139,900 814-char remark

   Show marketing remark (938 chars)

   Welcome to 151 N 21st St in the desirable Lakeview School District! This move in ready 3 bedroom home offers incredible value at just $135,000 and can be more affordable than renting. Inside you'll find an updated kitchen and bathroom, beautiful hardwood floors, and a functional layout perfect for everyday living. Major updates including a newer roof and newer furnace help provide peace of mind from day one. The massive fenced backyard offers plenty of space for pets, entertaining, or relaxing outdoors. The finished lower level with egress window adds valuable additional living space perfect for a rec room, home office, workout area, or guest setup. Conveniently located near schools, shopping, restaurants, and more, this home is a fantastic opportunity for first time buyers, downsizers, or anyone looking for affordable homeownership in Lakeview. Homes at this price point do not last long. Schedule your private showing today!

3. 2026-05-09
   price $139,900

   Show marketing remark (938 chars)

   Welcome to 151 N 21st St in the desirable Lakeview School District! This move in ready 3 bedroom home offers incredible value at just $135,000 and can be more affordable than renting. Inside you'll find an updated kitchen and bathroom, beautiful hardwood floors, and a functional layout perfect for everyday living. Major updates including a newer roof and newer furnace help provide peace of mind from day one. The massive fenced backyard offers plenty of space for pets, entertaining, or relaxing outdoors. The finished lower level with egress window adds valuable additional living space perfect for a rec room, home office, workout area, or guest setup. Conveniently located near schools, shopping, restaurants, and more, this home is a fantastic opportunity for first time buyers, downsizers, or anyone looking for affordable homeownership in Lakeview. Homes at this price point do not last long. Schedule your private showing today!

4. 2026-04-30
   listed $150,000 Active 814-char remark

   Show marketing remark (938 chars)

   Welcome to 151 N 21st St in the desirable Lakeview School District! This move in ready 3 bedroom home offers incredible value at just $135,000 and can be more affordable than renting. Inside you'll find an updated kitchen and bathroom, beautiful hardwood floors, and a functional layout perfect for everyday living. Major updates including a newer roof and newer furnace help provide peace of mind from day one. The massive fenced backyard offers plenty of space for pets, entertaining, or relaxing outdoors. The finished lower level with egress window adds valuable additional living space perfect for a rec room, home office, workout area, or guest setup. Conveniently located near schools, shopping, restaurants, and more, this home is a fantastic opportunity for first time buyers, downsizers, or anyone looking for affordable homeownership in Lakeview. Homes at this price point do not last long. Schedule your private showing today!

5. 2026-04-30
   listed $150,000 Active 814-char remark

   Show marketing remark (938 chars)

   Welcome to 151 N 21st St in the desirable Lakeview School District! This move in ready 3 bedroom home offers incredible value at just $135,000 and can be more affordable than renting. Inside you'll find an updated kitchen and bathroom, beautiful hardwood floors, and a functional layout perfect for everyday living. Major updates including a newer roof and newer furnace help provide peace of mind from day one. The massive fenced backyard offers plenty of space for pets, entertaining, or relaxing outdoors. The finished lower level with egress window adds valuable additional living space perfect for a rec room, home office, workout area, or guest setup. Conveniently located near schools, shopping, restaurants, and more, this home is a fantastic opportunity for first time buyers, downsizers, or anyone looking for affordable homeownership in Lakeview. Homes at this price point do not last long. Schedule your private showing today!

6. 2026-04-30
   listed $150,000 Active

   Show marketing remark (938 chars)

   Welcome to 151 N 21st St in the desirable Lakeview School District! This move in ready 3 bedroom home offers incredible value at just $135,000 and can be more affordable than renting. Inside you'll find an updated kitchen and bathroom, beautiful hardwood floors, and a functional layout perfect for everyday living. Major updates including a newer roof and newer furnace help provide peace of mind from day one. The massive fenced backyard offers plenty of space for pets, entertaining, or relaxing outdoors. The finished lower level with egress window adds valuable additional living space perfect for a rec room, home office, workout area, or guest setup. Conveniently located near schools, shopping, restaurants, and more, this home is a fantastic opportunity for first time buyers, downsizers, or anyone looking for affordable homeownership in Lakeview. Homes at this price point do not last long. Schedule your private showing today!

7. 2019-06-19
   soldstatus $89,000
8. 2019-06-12
   soldstatus $89,000
9. 2019-06-12
   soldstatus $89,000 Sold
10. 2019-06-12
    soldstatus $89,000
11. 2019-05-06
    status Pending
12. 2019-04-30
    listed $84,900
13. 2019-04-30
    listed $84,900 Active
14. 2019-04-30
    listed $84,900
15. 2012-05-08
    soldstatus $25,000
16. 2012-05-08
    soldstatus $25,000
17. 2012-01-31
    listed $39,900
18. 2012-01-31
    listed $39,900
19. 1994-08-19
    soldstatus $38,500
20. 1994-08-19
    soldstatus $38,500
21. 1994-07-15
    listed $38,500
22. 1994-07-15
    listed $38,500

ⓘ 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: $1,831 · $153/mo
• Projected year-2 tax: $1,955 · $163/mo
• Expected delta: +$124/yr (+$10/mo · 6.8%)

ⓘ 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 ≥97°F today · 16 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: $16,455
• − Mortgage interest: −$7,562
• − Property taxes: −$1,831
• − Insurance: −$675
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$3,927
• Taxable loss: −$172
• Est. tax savings @ 24.0%: +$41
• After-tax cash flow: $2,040/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: Lakeview School District (Calhoun)
• NCES district ID: 2620850
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $52,353
• Composite: 29.7/100
• National rank: #6455
• State rank: #291 of 540 in MI

Livability — Battle Creek

• Score: 73/100
• State rank: #198
• US rank: #5031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Battle Creek, MI
• County: Calhoun County · 91,590 people
• City population: 91,590
• Metro: Battle Creek, MI
• Population (ZIP): 27,765
• Household income: $68,821
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 755.0

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 130,157 people
• By 2030: 126,691 · -2.7%
• By 2040: 118,517 · -8.9%
• By 2050: 109,855 · -15.6%
• By 2075: 90,486 · -30.5%
• By 2100: 70,766 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 7% Asian 7% Black 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 4% Lithuanian 4% Romanian 3%
• Foreign-born: 10% · Philippines, Canada
• Languages at home: 86% English-only · Other Asian/Pacific 7% Spanish 4% Other Indo-European 1%

Political lean MEDSL · Calhoun

• 2024 margin: R (+14.1) · D 42.3% · R 56.4% · Other 1.3%
• 2008→2024 swing: -23.4pp toward R · 2008: 9.4pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+11.1 2016: R+12.5 2012: D+1.6 2008: D+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.20%
• Current HPI: 206.7754
• Rent YoY: ▲ 11.13%
• Metro: Battle Creek, 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

+250.6% since first listed

28 events — show timeline

• 2026-05-29 Pending — REALCOMP
• 2026-05-29 Pending — MiRealSource-MiMLS
• 2026-05-29 Pending — SW Michigan MLS
• 2026-05-22 Price Changed $135,000 MiRealSource-MiMLS
• 2026-05-22 Price Changed $135,000 REALCOMP
• 2026-05-22 Price Changed $135,000 SW Michigan MLS
• 2026-05-10 Price Changed $139,900 MiRealSource-MiMLS
• 2026-05-09 Price Changed $139,900 REALCOMP
• 2026-05-09 Price Changed $139,900 SW Michigan MLS
• 2026-04-30 Listed $150,000 SW Michigan MLS
• 2026-04-30 Listed $150,000 MiRealSource-MiMLS
• 2026-04-30 Listed $150,000 REALCOMP
• 2019-06-19 Sold (Public Records) $89,000 Public Records
• 2019-06-12 Sold (MLS) $89,000 MiRealSource-MiMLS
• 2019-06-12 Sold (MLS) $89,000 SW Michigan MLS
• 2019-06-12 Sold (MLS) $89,000 REALCOMP
• 2019-05-06 Pending — SW Michigan MLS
• 2019-04-30 Listed $84,900 MiRealSource-MiMLS
• 2019-04-30 Listed $84,900 SW Michigan MLS
• 2019-04-30 Listed $84,900 REALCOMP
• 2012-05-08 Sold (MLS) $25,000 REALCOMP
• 2012-05-08 Sold (MLS) $25,000 SW Michigan MLS
• 2012-01-31 Listed $39,900 REALCOMP
• 2012-01-31 Listed $39,900 SW Michigan MLS
• 1994-08-19 Sold (MLS) $38,500 REALCOMP
• 1994-08-19 Sold (MLS) $38,500 SW Michigan MLS
• 1994-07-15 Listed $38,500 REALCOMP
• 1994-07-15 Listed $38,500 SW Michigan MLS

Property tax history

+2.5%/yr

Latest (2025): $1,831 · -23.4% YoY. Source: county tax records.