705 Columbia Ave · St. Joseph, MI 49085

$95,000

2 bd · 1.0 ba · 1,260 sqft · SingleFamily · 14 Days on market

Built 1939 6,206 sqft lot $75/sqft · 62% below area ↓ 2% 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 +5.1/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This fully gutted 2-bedroom, 1-bath home is located just minutes from downtown, Silver Beach, local restaurants, shopping, and Lake Michigan. With the interior already opened up, investors and rehabbers can move directly into planning and reconstruction. St. Joseph continues to attract strong demand from both local buyers and second-home purchasers thanks to its walkable downtown, waterfront lifestyle, and easy I-94 access. Nearby renovated homes support strong resale potential for buyers with the right vision and rehab plan. Two detached garages add additional flexibility for storage, workshop space, or additional value-add potential. Property is being sold as-is.

Key facts

• Easy i-94 access
• Waterfront lifestyle
• Detached garages

Tags

• WALKABLE DOWNTOWN
• WATERFRONT LIFESTYLE
• EASY I-94 ACCESS
• DETACHED GARAGES

Property features AI

Exterior

• Parking: Detached garage; 3-car garage
• Utilities: Public water
• Home design: Ranch-style single-family home; Built in 1939; Single-story
• Construction: Wood siding; Shingle roof; Built in 1939
• Exterior features: Paved road access; Lot roughly 0.14 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Partial basement; 2 total rooms
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Cap rate 11.7% vs local median 2.6% in St. Joseph — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. Joseph Public Schools (suburban): math 53% / reading 64% proficiency, ranked #47 of 540 in MI (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-0.2%/yr); 221 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $657 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 + 0.0% rent growth), your $27k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 18y 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: property tax is 4.4% of price; built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.75% ✓
• Cap rate: 11.69%
• Cash-on-cash: 19.29%
• DSCR: 1.86
• GRM: 4.8

CMA / ARV

• ARV (median comp): $249,754
• List price: $95,000
• Delta: -61.96%
• 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
705 Columbia Ave	0.00mi	2/1.0	1,260 (0%)	0mo	$98,000	$78	100
2520 S State St	0.22mi	2/1.0	1,236 (-2%)	13mo	$229,000	$185	76
2516 S State St	0.24mi	3/1.0 (+1)	1,202 (-5%)	1mo	$315,000	$262	76
2524 Morton Ave	0.37mi	3/1.5 (+1)	1,200 (-5%)	3mo	$275,000	$229	65
2272 Washington Ave	0.65mi	2/2.0	1,280 (+2%)	6mo	$260,000	$203	58
2610 Willa Dr	0.26mi	2/1.0	1,085 (-14%)	12mo	$275,000	$253	55
312 S Veronica Ct	0.46mi	3/1.5 (+1)	1,180 (-6%)	10mo	$225,000	$191	52
2301 Willa Dr	0.50mi	2/1.0	1,436 (+14%)	2mo	$269,900	$188	52
911 Botham Ave	0.32mi	3/1.0 (+1)	1,091 (-13%)	10mo	$250,000	$229	50
1127 Orchard Ave	0.70mi	3/1.5 (+1)	1,359 (+8%)	2mo	$299,900	$221	46
2215 S Cleveland Ave	0.72mi	3/1.0 (+1)	1,360 (+8%)	13mo	$245,000	$180	38
536 La Salle Ave	0.68mi	3/2.0 (+1)	1,402 (+11%)	11mo	$299,000	$213	31

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 7.2%
• Equity multiple: 1.27×
• Total profit: $7,144
• Equity at exit: $14,165

10-year hold

• IRR: 13.1%
• Equity multiple: 1.87×
• Total profit: $23,169
• Equity at exit: $8,214

Cash invested: $26,600 (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 49085

• Rents YoY: -0.2%
• Active inventory: 221
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,659 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$345 /mo · $4,142/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $428

Break-even live

Break-even rent $1,118

Max offer price $95,000

Occupancy floor 69%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
535 Archer Ave Fl 2 St Joseph, MI	1.0	1.0	908	$1,450	$1.60	44d	1	0.78mi

Listing history 37 events

1. 2026-05-07
   listed $95,000 Active 673-char remark

   Show marketing remark (673 chars)

   This fully gutted 2-bedroom, 1-bath home is located just minutes from downtown, Silver Beach, local restaurants, shopping, and Lake Michigan. With the interior already opened up, investors and rehabbers can move directly into planning and reconstruction. St. Joseph continues to attract strong demand from both local buyers and second-home purchasers thanks to its walkable downtown, waterfront lifestyle, and easy I-94 access. Nearby renovated homes support strong resale potential for buyers with the right vision and rehab plan. Two detached garages add additional flexibility for storage, workshop space, or additional value-add potential. Property is being sold as-is.

2. 2026-05-07
   listed $95,000 Active 673-char remark

   Show marketing remark (673 chars)

   This fully gutted 2-bedroom, 1-bath home is located just minutes from downtown, Silver Beach, local restaurants, shopping, and Lake Michigan. With the interior already opened up, investors and rehabbers can move directly into planning and reconstruction. St. Joseph continues to attract strong demand from both local buyers and second-home purchasers thanks to its walkable downtown, waterfront lifestyle, and easy I-94 access. Nearby renovated homes support strong resale potential for buyers with the right vision and rehab plan. Two detached garages add additional flexibility for storage, workshop space, or additional value-add potential. Property is being sold as-is.

3. 2026-05-07
   listed $95,000 Active

   Show marketing remark (673 chars)

   This fully gutted 2-bedroom, 1-bath home is located just minutes from downtown, Silver Beach, local restaurants, shopping, and Lake Michigan. With the interior already opened up, investors and rehabbers can move directly into planning and reconstruction. St. Joseph continues to attract strong demand from both local buyers and second-home purchasers thanks to its walkable downtown, waterfront lifestyle, and easy I-94 access. Nearby renovated homes support strong resale potential for buyers with the right vision and rehab plan. Two detached garages add additional flexibility for storage, workshop space, or additional value-add potential. Property is being sold as-is.

4. 2026-04-03
   historical
5. 2026-04-03
   historical
6. 2026-03-20
   listed $110,999 Active
7. 2026-03-20
   listed $110,999 Active
8. 2025-12-10
   historical
9. 2025-12-10
   historical
10. 2025-11-19
    price $97,999
11. 2025-11-19
    price $97,999
12. 2025-10-17
    price $105,999
13. 2025-10-17
    price $105,999
14. 2025-10-02
    listed $110,999 Active
15. 2025-10-02
    listed $110,999 Active
16. 2024-06-13
    soldstatus $75,000
17. 2021-08-10
    soldstatus $93,000
18. 2021-07-23
    soldstatus $93,000 Sold
19. 2021-07-23
    soldstatus $93,000 Sold
20. 2021-07-23
    soldstatus $93,000
21. 2021-06-10
    historical Contingent - Continue To Show
22. 2021-06-10
    historical Active Backup
23. 2021-06-09
    price $100,000
24. 2021-06-08
    price $100,000
25. 2021-05-21
    price $108,790
26. 2021-05-21
    price $108,790
27. 2021-05-21
    status Active
28. 2021-05-21
    status Active
29. 2021-03-17
    historical
30. 2021-03-17
    historical
31. 2021-03-05
    listed $109,900 Active
32. 2021-03-05
    listed $109,900 Active
33. 2021-03-05
    listed $100,000
34. 2015-03-02
    historical
35. 2009-05-31
    historical
36. 2008-12-24
    listed $100,000
37. 2008-12-24
    listed $100,000

ⓘ 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: $4,142 · $345/mo
• Projected year-2 tax: $4,142 · $345/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 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,908
• − Mortgage interest: −$5,321
• − Property taxes: −$4,142
• − Insurance: −$475
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$2,764
• Taxable income: $4,020
• Est. tax owed @ 24.0%: −$965
• After-tax cash flow: $4,167/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: St. Joseph Public Schools
• NCES district ID: 2632850
• Math proficiency: 53% ▼ -12.00%
• Reading proficiency: 64% ▼ -8.00%
• Median HH income: $61,232
• Composite: 50.87/100
• National rank: #1795
• State rank: #47 of 540 in MI

Livability — St. Joseph

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Joseph, MI
• County: Berrien County · 71,477 people
• Metro: Niles, MI
• Population (ZIP): 23,827
• Household income: $104,969
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 277.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Asian 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Iranian 4% Italian 4%
• Foreign-born: 8% · Canada, China
• Languages at home: 91% English-only · Other Indo-European 5% Spanish 1% Chinese 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: ▼ -332.72%
• Current HPI: 207.2281
• Rent YoY: ▼ -0.24%
• 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

-2.0% since first listed

44 events — show timeline

• 2026-06-08 Sold (MLS) $98,000 REALCOMP
• 2026-06-08 Sold (MLS) $98,000 SW Michigan MLS
• 2026-06-08 Sold (MLS) $98,000 MiRealSource-MiMLS
• 2026-05-30 Listing Removed — MiRealSource-MiMLS
• 2026-05-23 Pending — REALCOMP
• 2026-05-22 Pending — MiRealSource-MiMLS
• 2026-05-22 Pending — SW Michigan MLS
• 2026-05-07 Listed $95,000 REALCOMP
• 2026-05-07 Listed $95,000 SW Michigan MLS
• 2026-05-07 Listed $95,000 MiRealSource-MiMLS
• 2026-04-03 Listing Removed — REALCOMP
• 2026-04-03 Listing Removed — MiRealSource-MiMLS
• 2026-03-20 Listed $110,999 REALCOMP
• 2026-03-20 Listed $110,999 MiRealSource-MiMLS
• 2025-12-10 Listing Removed — MiRealSource-MiMLS
• 2025-12-10 Listing Removed — REALCOMP
• 2025-11-19 Price Changed $97,999 MiRealSource-MiMLS
• 2025-11-19 Price Changed $97,999 REALCOMP
• 2025-10-17 Price Changed $105,999 MiRealSource-MiMLS
• 2025-10-17 Price Changed $105,999 REALCOMP
• 2025-10-02 Listed $110,999 MiRealSource-MiMLS
• 2025-10-02 Listed $110,999 REALCOMP
• 2024-06-13 Sold (Public Records) $75,000 Public Records
• 2021-08-10 Sold (Public Records) $93,000 Public Records
• 2021-07-23 Sold (MLS) $93,000 MiRealSource-MiMLS
• 2021-07-23 Sold (MLS) $93,000 SW Michigan MLS
• 2021-07-23 Sold (MLS) $93,000 REALCOMP
• 2021-06-10 Contingent — REALCOMP
• 2021-06-10 Contingent — SW Michigan MLS
• 2021-06-09 Price Changed $100,000 REALCOMP
• 2021-06-08 Price Changed $100,000 SW Michigan MLS
• 2021-05-21 Price Changed $108,790 REALCOMP
• 2021-05-21 Price Changed $108,790 SW Michigan MLS
• 2021-05-21 Relisted — REALCOMP
• 2021-05-21 Relisted — SW Michigan MLS
• 2021-03-17 Listing Removed — REALCOMP
• 2021-03-17 Listing Removed — SW Michigan MLS
• 2021-03-05 Listed $100,000 MiRealSource-MiMLS
• 2021-03-05 Listed $109,900 SW Michigan MLS
• 2021-03-05 Listed $109,900 REALCOMP
• 2015-03-02 Listing Removed — SW Michigan MLS
• 2009-05-31 Listing Removed — REALCOMP
• 2008-12-24 Listed $100,000 REALCOMP
• 2008-12-24 Listed $100,000 SW Michigan MLS

Property tax history

+17.4%/yr

Latest (2024): $4,142 · +4.4% YoY. Source: county tax records.