5587 E Karen Ct · Stevensville, MI 49127

$94,000

5 bd · 2.0 ba · 2,452 sqft · SingleFamily public records · 55 Days on market

Built 1900 0.27 ac lot ↓ 16% since listing

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

Key facts

• Country style home
• New construction
• Cul-de-sac

Tags

• COUNTRY STYLE HOME
• CUL-DE-SAC
• NEW CONSTRUCTION
• NEW ROOF

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Cable connected
• Home design: Traditional single-family home; Living area approximately 2452; Built in 1900
• Construction: Vinyl siding; Composition roof; Crawl space / Michigan-style basement
• Exterior features: Located on a cul-de-sac

Interior

• Kitchen: Kitchen (12 x 16)
• Bedrooms: Primary bedroom (15 x 11); Bedroom 2 (9 x 11); Bedroom 3 (13 x 12); Bedroom 4 (15 x 9); Bedroom 5 (11 x 9)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: 10 total rooms; Crawl space and Michigan-style basement
• Laundry & utility: Dedicated laundry room (7 x 4)

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $756 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• Recommended offer: $91k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 2.2% in Stevensville — 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 72/100 on livability (#236 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lakeshore School District (Berrien) (suburban): math 56% / reading 65% proficiency, ranked #37 of 540 in MI (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 103 active listings in the ZIP; solid renter incomes; 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 $650 of loan paydown is wiped out by about $3k 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 $26k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 22y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $91,180 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.89% ✓
• Cap rate: 15.94%
• Cash-on-cash: 34.46%
• DSCR: 2.53
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $264,816
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2801 Wildwood Ln	0.31mi	5/3.0	2,520 (+3%)	12mo	$402,500	$160	67
2960 W John Beers Rd	0.34mi	4/3.0 (-1)	2,100 (-14%)	11mo	$250,000	$119	42
5312 Puetz Rd	0.64mi	4/2.0 (-1)	2,360 (-4%)	24mo	$255,000	$108	39
5542 W Hiawatha Ln	0.54mi	4/2.0 (-1)	2,782 (+14%)	21mo	$297,500	$107	30
6046 Legion Rd	0.75mi	4/1.0 (-1)	2,234 (-9%)	22mo	$235,000	$105	23

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: 29.9%
• Equity multiple: 2.25×
• Total profit: $32,932
• Equity at exit: $14,016

10-year hold

• IRR: 37.2%
• Equity multiple: 4.45×
• Total profit: $90,771
• Equity at exit: $8,127

Cash invested: $26,320 (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 49127

• Active inventory: 103
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,779 medium
• Mortgage (P&I): −$493
• Tax est. 1.5%: −$118 /mo · $1,410/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $756

Break-even live

Break-even rent $822

Max offer price $94,000

Occupancy floor 53%

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Listing history 44 events

1. 2026-06-19
   days on market $94,000 Active 55 DOM
2. 2026-06-18
   days on market $94,000 Active 54 DOM
3. 2026-06-17
   days on market $94,000 Active 53 DOM
4. 2026-06-16
   days on market $94,000 Active 52 DOM
5. 2026-06-15
   days on market $94,000 Active 51 DOM
6. 2026-06-14
   days on market $94,000 Active 49 DOM
7. 2026-06-13
   days on market $94,000 Active 48 DOM
8. 2026-06-10
   days on market $94,000 Active 46 DOM
9. 2026-06-09
   days on market $94,000 Active 45 DOM
10. 2026-06-08
    days on market $94,000 Active 44 DOM
11. 2026-06-07
    days on market $94,000 Active 43 DOM
12. 2026-06-02
    days on market $94,000 Active 38 DOM
13. 2026-06-01
    pricedays on market $94,000 Active 37 DOM
14. 2026-05-31
    days on market $99,900 Active 36 DOM
15. 2026-05-30
    days on market $99,900 Active 35 DOM
16. 2026-05-24
    status Active 490-char remark

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

17. 2026-05-24
    status Active 490-char remark

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

18. 2026-05-24
    status Active

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

19. 2026-05-15
    status Pending 490-char remark

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

20. 2026-05-15
    status Pending 490-char remark

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

21. 2026-05-15
    status Pending

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

22. 2026-05-04
    status Active 490-char remark

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

23. 2026-05-04
    status Active 490-char remark

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

24. 2026-05-04
    status Active

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

25. 2026-04-20
    status Pending 490-char remark

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

26. 2026-04-20
    status Pending 490-char remark

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

27. 2026-04-20
    status Pending

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

28. 2026-03-30
    listed $99,900 Active 490-char remark

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

29. 2026-03-30
    listed $99,900 Active 490-char remark

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

30. 2026-03-30
    listed $99,900 Active

    Show marketing remark (490 chars)

    Large country style home in the village of Stevensville. Located on a cul-de-sac new construction at the end of the street. A new roof has been installed to kick off the rest of the rehab needed to bring the home back to full functionality. This is a Fannie Mae HomePath Property. First Time Buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

31. 2019-08-26
    historical
32. 2019-08-25
    historical
33. 2019-08-25
    historical
34. 2019-01-07
    price $119,900
35. 2018-07-18
    price $139,900
36. 2018-07-18
    status Active
37. 2018-05-15
    historical
38. 2018-01-24
    listed $119,900
39. 2018-01-24
    listed $149,900 Active
40. 2018-01-24
    listed $119,900
41. 2005-08-12
    soldstatus $114,000
42. 2005-08-12
    soldstatus $114,000
43. 2004-11-01
    listed $119,500
44. 2004-11-01
    listed $119,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,348
• − Mortgage interest: −$5,265
• − Property taxes: −$1,410
• − Insurance: −$470
• − Repairs & maintenance: −$1,708
• − Management: −$1,708
• − Depreciation: −$2,735
• Taxable income: $8,052
• Est. tax owed @ 24.0%: −$1,933
• After-tax cash flow: $7,137/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: Lakeshore School District (Berrien)
• NCES district ID: 2620820
• Math proficiency: 56% ▼ -4.00%
• Reading proficiency: 65% ▲ 2.00%
• Median HH income: $63,449
• Composite: 52.75/100
• National rank: #1546
• State rank: #37 of 540 in MI

Livability — Stevensville

• Score: 72/100
• State rank: #236
• US rank: #5954

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Stevensville, MI
• County: Berrien County · 71,477 people
• City population: 11,155
• Metro: Niles, MI
• Population (ZIP): 11,155
• Household income: $93,338
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 100.0

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: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 6% Hispanic / Latino 5% Black 4% Asian 3%
• Common ancestry: Romanian 7% Iranian 4% Slovak 2%
• Foreign-born: 8% · Canada
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 2% German/W. Germanic 1%

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: ▼ -297.38%
• Current HPI: 209.9306
• Rent YoY: —
• Metro: Niles, 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

-16.4% since first listed

29 events — show timeline

• 2026-05-24 Relisted — REALCOMP
• 2026-05-24 Relisted — MiRealSource-MiMLS
• 2026-05-24 Relisted — SW Michigan MLS
• 2026-05-15 Pending — MiRealSource-MiMLS
• 2026-05-15 Pending — REALCOMP
• 2026-05-15 Pending — SW Michigan MLS
• 2026-05-04 Relisted — MiRealSource-MiMLS
• 2026-05-04 Relisted — REALCOMP
• 2026-05-04 Relisted — SW Michigan MLS
• 2026-04-20 Pending — REALCOMP
• 2026-04-20 Pending — MiRealSource-MiMLS
• 2026-04-20 Pending — SW Michigan MLS
• 2026-03-30 Listed $99,900 SW Michigan MLS
• 2026-03-30 Listed $99,900 MiRealSource-MiMLS
• 2026-03-30 Listed $99,900 REALCOMP
• 2019-08-26 Listing Removed — SW Michigan MLS
• 2019-08-25 Listing Removed — MiRealSource-MiMLS
• 2019-08-25 Listing Removed — REALCOMP
• 2019-01-07 Price Changed $119,900 SW Michigan MLS
• 2018-07-18 Price Changed $139,900 SW Michigan MLS
• 2018-07-18 Relisted — SW Michigan MLS
• 2018-05-15 Listing Removed — SW Michigan MLS
• 2018-01-24 Listed $119,900 MiRealSource-MiMLS
• 2018-01-24 Listed $149,900 SW Michigan MLS
• 2018-01-24 Listed $119,900 REALCOMP
• 2005-08-12 Sold (MLS) $114,000 REALCOMP
• 2005-08-12 Sold (MLS) $114,000 SW Michigan MLS
• 2004-11-01 Listed $119,500 REALCOMP
• 2004-11-01 Listed $119,500 SW Michigan MLS

Property tax history

+20.7%/yr

Latest (2024): $41,359 · +1294.6% YoY. Source: county tax records.