411 Stanwood St · Kalamazoo, MI 49006

$389,900

36 bd · 1.0 ba · — sqft · MultiFamily public records · 19 Days on market

Built 1960 6,534 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investor opportunity you don't want to miss. This fully occupied 6-unit sits right next to Kalamazoo College and just minutes from downtown, keeping rental demand strong year-round. All units feature the same floor plan for operational simplicity, and all tenants are currently month-to-month, giving you the flexibility to increase rents and improve cash flow right away. Recent updates include a new garage door (2025) and coin-operated washer (2024). Solid income, prime location, and clear upside potential make this a great addition to any portfolio.

Key facts

• Coin-operated washer
• Solid income
• New garage door

Tags

• FULLY OCCUPIED 6-UNIT
• NEXT TO KALAMAZOO COLLEGE
• MINUTES FROM DOWNTOWN
• NEW GARAGE DOOR
• COIN-OPERATED WASHER
• SOLID INCOME

Property features AI

Finance

• Other: Zoned LightIndustry
• Financial info: Operating as a multifamily residential income property with multiple 1-bedroom units and individual rents reported per unit

Exterior

• Parking: Garage parking; Paved parking; Total of 8 parking spaces
• Utilities: Public water; Public sewer / sewer available; Electricity connected; Natural gas connected
• Home design: Residential income property (multifamily)
• Construction: Brick, concrete, and vinyl siding exterior; Composition roof; Slab foundation
• Exterior features: Paved road access; Sidewalks

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Six 1-bedroom units (unit IDs A–F as described)
• Bathrooms: Each unit includes 1 bathroom
• Heating & cooling: Window unit cooling; Baseboard heating; Radiant heating; Natural gas heating
• Interior features: Common area laundry; Window cooling units; Baseboard and radiant heating; natural gas
• Laundry & utility: Shared laundry in common area

What this means for you Summary

Snapshot

• This is a 6 × 6-bed/6.0-bath units multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $11k ($133k/yr) — positive. Per door: $2k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $390k).
• Recommended offer: $384k (1.5% below list) — sets the bar for market timing.
• Cap rate 40.4% vs local median 4.1% in Kalamazoo — 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 76/100 on livability (#141 in MI, #3,492 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Kalamazoo Public Schools (urban): math 43% / reading 72% proficiency, ranked #71 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.4%/yr); 105 active listings in the ZIP; lower-income renter base — watch delinquency; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• At $17,413/mo this rent would consume 479% of the median local household income ($44k/yr) (locally 2581% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Kalamazoo County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $109k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($384k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $384,051 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 4.47% ✓
• Cap rate: 40.45%
• Cash-on-cash: 121.98%
• DSCR: 6.43
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.39% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.96×
• Total profit: $650,709
• Equity at exit: $58,135

10-year hold

• IRR: —
• Equity multiple: 14.80×
• Total profit: $1,506,079
• Equity at exit: $33,711

Cash invested: $109,172 (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 49006

• Rents YoY: 3.4%
• Active inventory: 105
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $17,413 high
• Mortgage (P&I): −$2,045
• Tax from tax record: −$452 /mo · $5,423/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,657
• Net cashflow: $11,097

Break-even live

Break-even rent $3,366

Max offer price $389,900

Occupancy floor 31%

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	6	6	$17,412
Total (6 units)			$17,413

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: $97,475
• Closing costs: $11,697
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $389,900 Active 19 DOM
2. 2026-06-17
   days on market $389,900 Active 18 DOM
3. 2026-06-16
   days on market $389,900 Active 17 DOM
4. 2026-06-15
   days on market $389,900 Active 16 DOM
5. 2026-06-14
   days on market $389,900 Active 14 DOM
6. 2026-06-13
   days on market $389,900 Active 13 DOM
7. 2026-06-10
   days on market $389,900 Active 11 DOM
8. 2026-06-09
   days on market $389,900 Active 10 DOM
9. 2026-06-08
   days on market $389,900 Active 9 DOM
10. 2026-06-07
    days on market $389,900 Active 8 DOM
11. 2026-06-05
    days on market $389,900 Active 5 DOM
12. 2026-06-03
    days on market $389,900 Active 4 DOM
13. 2026-06-02
    statusdays on market $389,900 Active 3 DOM
14. 2026-04-28
    status Pending

    Show marketing remark (555 chars)

    Investor opportunity you don't want to miss. This fully occupied 6-unit sits right next to Kalamazoo College and just minutes from downtown, keeping rental demand strong year-round. All units feature the same floor plan for operational simplicity, and all tenants are currently month-to-month, giving you the flexibility to increase rents and improve cash flow right away. Recent updates include a new garage door (2025) and coin-operated washer (2024). Solid income, prime location, and clear upside potential make this a great addition to any portfolio.

15. 2026-04-28
    status Pending 555-char remark

    Show marketing remark (555 chars)

    Investor opportunity you don't want to miss. This fully occupied 6-unit sits right next to Kalamazoo College and just minutes from downtown, keeping rental demand strong year-round. All units feature the same floor plan for operational simplicity, and all tenants are currently month-to-month, giving you the flexibility to increase rents and improve cash flow right away. Recent updates include a new garage door (2025) and coin-operated washer (2024). Solid income, prime location, and clear upside potential make this a great addition to any portfolio.

16. 2026-04-26
    listed $389,900 Active
17. 2026-04-25
    listed $389,900 Active 555-char remark

    Show marketing remark (555 chars)

    Investor opportunity you don't want to miss. This fully occupied 6-unit sits right next to Kalamazoo College and just minutes from downtown, keeping rental demand strong year-round. All units feature the same floor plan for operational simplicity, and all tenants are currently month-to-month, giving you the flexibility to increase rents and improve cash flow right away. Recent updates include a new garage door (2025) and coin-operated washer (2024). Solid income, prime location, and clear upside potential make this a great addition to any portfolio.

ⓘ 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: $5,423 · $452/mo
• Projected year-2 tax: $5,714 · $476/mo
• Expected delta: +$291/yr (+$24/mo · 5.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $208,956
• − Mortgage interest: −$21,840
• − Property taxes: −$5,423
• − Insurance: −$1,950
• − Repairs & maintenance: −$16,716
• − Management: −$16,716
• − Depreciation: −$11,343
• Taxable income: $134,968
• Est. tax owed @ 24.0%: −$32,392
• After-tax cash flow: $100,775/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: Kalamazoo Public Schools
• NCES district ID: 2619950
• Math proficiency: 43% ▲ 13.00%
• Reading proficiency: 72% ▲ 33.00%
• Median HH income: $35,291
• Composite: 47.48/100
• National rank: #2275
• State rank: #71 of 540 in MI

Livability — Kalamazoo

• Score: 76/100
• State rank: #141
• US rank: #3492

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kalamazoo, MI
• County: Kalamazoo County · 224,317 people
• City population: 121,397
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 26,507
• Household income: $43,639
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2581.0

Population outlook (Kalamazoo County) Hauer SSP2

• Today (2025): 280,982 people
• By 2030: 292,068 · +3.9%
• By 2040: 312,191 · +11.1%
• By 2050: 331,196 · +17.9%
• By 2075: 379,021 · +34.9%
• By 2100: 396,579 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 65% Black 14% Two or more races 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 6% Romanian 4% Italian 3%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 2%

Political lean MEDSL · Kalamazoo

• 2024 margin: D (+17.7) · D 58.0% · R 40.3% · Other 1.7%
• 2008→2024 swing: -1.8pp toward R · 2008: 19.5pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+18.7 2016: D+12.8 2012: D+13.3 2008: D+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -235.52%
• Current HPI: 243.4367
• Rent YoY: ▲ 3.39%
• Metro: Kalamazoo-Portage, 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

+0.0% since first listed

4 events — show timeline

• 2026-04-28 Pending — REALCOMP
• 2026-04-28 Pending — MiRealSource-MiMLS
• 2026-04-26 Listed $389,900 REALCOMP
• 2026-04-25 Listed $389,900 MiRealSource-MiMLS

Property tax history

+3.7%/yr

Latest (2025): $5,423 · +3.0% YoY. Source: county tax records.