174 Cherry St · Battle Creek, MI 49017

$130,000

8 bd · 4.0 ba · 4,630 sqft · Other public records · 90 Days on market

Built 1890 9,583 sqft lot Est $109k · 19% over

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Why this score? — see what drove the D+ 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 +22.3/30.0
• 1% rule +7.6/10.0
• DSCR +7.1/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Major opportunity at 174 Cherry Street! This 4-unit property features four 2-bedroom, 1-bath units and is ready for its next chapter. This is a chance to step into a value-add multi-family with significant upside!All units are currently vacant, offering full flexibility to renovate, set rents, and maximize returns from day one. While updates are needed, the building offers a solid layout and strong potential for long-term equity growth. Conveniently located near downtown and major highways, this property provides easy access to local amenities and commuter routes. Bring your vision and unlock the value.

Key facts

• 9,583 sq ft lot
• 4 parking spots
• Built 1890

Tags

• FULL FLEXIBILITY TO RENOVATE
• EASY ACCESS TO LOCAL AMENITIES
• EASY ACCESS TO COMMUTER ROUTES

What this means for you Summary

Snapshot

• This is a 8-bed/4.0-bath other listed at $130k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/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: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 5.2% 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.
• Battle Creek Public Schools (urban): math 8% / reading 19% proficiency, ranked #510 of 540 in MI (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 148 active listings in the ZIP; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($61k/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 $899 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.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 19y 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 3.2% of price; built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.26% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 6.6

CMA / ARV

• ARV (median comp): $108,904
• List price: $130,000
• Delta: 19.37%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-7,293
• Equity at exit: $19,383

10-year hold

• IRR: 4.4%
• Equity multiple: 1.32×
• Total profit: $11,769
• Equity at exit: $11,240

Cash invested: $36,400 (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 49017

• Home prices YoY: -32.2%
• Active inventory: 148
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,643 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$348 /mo · $4,178/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $214

Break-even live

Break-even rent $1,372

Max offer price $130,000

Occupancy floor 82%

Sensitivity live

Price	-10% $288	-5% $251	+0% $214	+5% $177	+10% $140
Rent	-10% $84	-5% $149	+0% $214	+5% $279	+10% $344
Rate	-1.0pp $280	-0.5pp $247	base $214	+0.5pp $180	+1.0pp $146

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $130,000 Active 90 DOM
2. 2026-06-18
   days on market $130,000 Active 89 DOM
3. 2026-06-17
   days on market $130,000 Active 88 DOM
4. 2026-06-16
   days on market $130,000 Active 87 DOM
5. 2026-06-15
   days on market $130,000 Active 86 DOM
6. 2026-06-14
   days on market $130,000 Active 84 DOM
7. 2026-06-13
   statusdays on market $130,000 Active 83 DOM
8. 2026-05-13
   status Pending 610-char remark

   Show marketing remark (610 chars)

   Major opportunity at 174 Cherry Street! This 4-unit property features four 2-bedroom, 1-bath units and is ready for its next chapter. This is a chance to step into a value-add multi-family with significant upside!All units are currently vacant, offering full flexibility to renovate, set rents, and maximize returns from day one. While updates are needed, the building offers a solid layout and strong potential for long-term equity growth. Conveniently located near downtown and major highways, this property provides easy access to local amenities and commuter routes. Bring your vision and unlock the value.

9. 2026-05-13
   status Pending 610-char remark

   Show marketing remark (610 chars)

   Major opportunity at 174 Cherry Street! This 4-unit property features four 2-bedroom, 1-bath units and is ready for its next chapter. This is a chance to step into a value-add multi-family with significant upside!All units are currently vacant, offering full flexibility to renovate, set rents, and maximize returns from day one. While updates are needed, the building offers a solid layout and strong potential for long-term equity growth. Conveniently located near downtown and major highways, this property provides easy access to local amenities and commuter routes. Bring your vision and unlock the value.

10. 2026-03-26
    status Active 610-char remark

    Show marketing remark (610 chars)

    Major opportunity at 174 Cherry Street! This 4-unit property features four 2-bedroom, 1-bath units and is ready for its next chapter. This is a chance to step into a value-add multi-family with significant upside!All units are currently vacant, offering full flexibility to renovate, set rents, and maximize returns from day one. While updates are needed, the building offers a solid layout and strong potential for long-term equity growth. Conveniently located near downtown and major highways, this property provides easy access to local amenities and commuter routes. Bring your vision and unlock the value.

11. 2026-03-26
    historical 610-char remark

    Show marketing remark (610 chars)

    Major opportunity at 174 Cherry Street! This 4-unit property features four 2-bedroom, 1-bath units and is ready for its next chapter. This is a chance to step into a value-add multi-family with significant upside!All units are currently vacant, offering full flexibility to renovate, set rents, and maximize returns from day one. While updates are needed, the building offers a solid layout and strong potential for long-term equity growth. Conveniently located near downtown and major highways, this property provides easy access to local amenities and commuter routes. Bring your vision and unlock the value.

12. 2026-02-19
    listed $130,000 Active 610-char remark

    Show marketing remark (610 chars)

    Major opportunity at 174 Cherry Street! This 4-unit property features four 2-bedroom, 1-bath units and is ready for its next chapter. This is a chance to step into a value-add multi-family with significant upside!All units are currently vacant, offering full flexibility to renovate, set rents, and maximize returns from day one. While updates are needed, the building offers a solid layout and strong potential for long-term equity growth. Conveniently located near downtown and major highways, this property provides easy access to local amenities and commuter routes. Bring your vision and unlock the value.

13. 2026-02-19
    listed $130,000 Active 610-char remark

    Show marketing remark (610 chars)

    Major opportunity at 174 Cherry Street! This 4-unit property features four 2-bedroom, 1-bath units and is ready for its next chapter. This is a chance to step into a value-add multi-family with significant upside!All units are currently vacant, offering full flexibility to renovate, set rents, and maximize returns from day one. While updates are needed, the building offers a solid layout and strong potential for long-term equity growth. Conveniently located near downtown and major highways, this property provides easy access to local amenities and commuter routes. Bring your vision and unlock the value.

14. 2026-01-01
    historical
15. 2025-12-31
    historical
16. 2025-08-20
    price $145,000
17. 2025-08-19
    price $145,000
18. 2025-07-07
    listed $150,000 Active
19. 2025-07-07
    listed $150,000 Active
20. 2025-07-01
    historical
21. 2025-06-30
    historical
22. 2024-12-30
    listed $150,000 Active
23. 2024-12-30
    listed $150,000 Active
24. 2022-06-27
    soldstatus $145,000
25. 2022-06-14
    soldstatus $145,000 Sold
26. 2022-06-14
    soldstatus $145,000 Sold
27. 2022-06-14
    soldstatus $145,000
28. 2022-04-19
    status Pending
29. 2022-04-19
    status Pending
30. 2022-04-07
    listed $142,000 Active
31. 2022-04-07
    listed $142,000 Active
32. 2022-04-07
    listed $142,000
33. 2017-12-18
    historical
34. 2017-12-17
    historical
35. 2017-06-10
    price $19,900
36. 2017-04-17
    listed $25,000 Active
37. 2017-04-17
    listed $19,900
38. 2017-04-13
    historical
39. 2017-04-12
    historical
40. 2017-02-10
    price $29,900
41. 2016-10-24
    listed $34,900 Active
42. 2016-10-12
    listed $29,900
43. 2014-09-18
    historical
44. 2014-09-15
    historical
45. 2010-09-13
    listed $59,900
46. 2008-04-08
    soldstatus $16,000
47. 2007-12-18
    listed $17,500
48. 2007-09-18
    listed $23,500
49. 2004-09-16
    soldstatus $94,900
50. 2003-11-19
    soldstatus $103,000

ⓘ 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: $4,178 · $348/mo
• Projected year-2 tax: $4,178 · $348/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 3/10 Moderate 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: $19,719
• − Mortgage interest: −$7,282
• − Property taxes: −$4,178
• − Insurance: −$650
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$3,782
• Taxable income: $672
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $2,408/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: Battle Creek Public Schools
• NCES district ID: 2600005
• Math proficiency: 8% ▼ -2.00%
• Reading proficiency: 19% ▬ 0.00%
• Median HH income: $31,697
• Composite: 10.73/100
• National rank: #9769
• State rank: #510 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): 21,295
• Household income: $60,885
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 697.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Iranian 3% Romanian 2%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 95% English-only · Spanish 2% Other Asian/Pacific 1% Arabic 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: ▼ -115.68%
• Current HPI: 243.5008
• Rent YoY: —
• 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

+26.2% since first listed

44 events — show timeline

• 2026-05-13 Pending — MiRealSource-MiMLS
• 2026-05-13 Pending — REALCOMP
• 2026-03-26 Relisted — REALCOMP
• 2026-03-26 Listing Removed — REALCOMP
• 2026-02-19 Listed $130,000 REALCOMP
• 2026-02-19 Listed $130,000 MiRealSource-MiMLS
• 2026-01-01 Listing Removed — MiRealSource-MiMLS
• 2025-12-31 Listing Removed — REALCOMP
• 2025-08-20 Price Changed $145,000 MiRealSource-MiMLS
• 2025-08-19 Price Changed $145,000 REALCOMP
• 2025-07-07 Listed $150,000 REALCOMP
• 2025-07-07 Listed $150,000 MiRealSource-MiMLS
• 2025-07-01 Listing Removed — MiRealSource-MiMLS
• 2025-06-30 Listing Removed — REALCOMP
• 2024-12-30 Listed $150,000 REALCOMP
• 2024-12-30 Listed $150,000 MiRealSource-MiMLS
• 2022-06-27 Sold (Public Records) $145,000 Public Records
• 2022-06-14 Sold (MLS) $145,000 MiRealSource-MiMLS
• 2022-06-14 Sold (MLS) $145,000 SW Michigan MLS
• 2022-06-14 Sold (MLS) $145,000 REALCOMP
• 2022-04-19 Pending — REALCOMP
• 2022-04-19 Pending — SW Michigan MLS
• 2022-04-07 Listed $142,000 MiRealSource-MiMLS
• 2022-04-07 Listed $142,000 SW Michigan MLS
• 2022-04-07 Listed $142,000 REALCOMP
• 2017-12-18 Listing Removed — SW Michigan MLS
• 2017-12-17 Listing Removed — REALCOMP
• 2017-06-10 Price Changed $19,900 SW Michigan MLS
• 2017-04-17 Listed $25,000 SW Michigan MLS
• 2017-04-17 Listed $19,900 REALCOMP
• 2017-04-13 Listing Removed — SW Michigan MLS
• 2017-04-12 Listing Removed — REALCOMP
• 2017-02-10 Price Changed $29,900 SW Michigan MLS
• 2016-10-24 Listed $34,900 SW Michigan MLS
• 2016-10-12 Listed $29,900 REALCOMP
• 2014-09-18 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2010-09-13 Listed $59,900 SW Michigan MLS
• 2008-04-08 Sold (MLS) $16,000 SW Michigan MLS
• 2007-12-18 Listed $17,500 SW Michigan MLS
• 2007-09-18 Listed $23,500 SW Michigan MLS
• 2004-09-16 Sold (Public Records) $94,900 Public Records
• 2003-11-19 Sold (Public Records) $995,000 Public Records
• 2003-11-19 Sold (Public Records) $103,000 Public Records

Property tax history

+16.7%/yr

Latest (2025): $4,178 · -28.4% YoY. Source: county tax records.