170 Thomas St · Coloma, MI 49038

$125,000

3 bd · 1.5 ba · 1,134 sqft · SingleFamily public records · 22 Days on market

Built 1989 Est $183k · 32% 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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +7.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks

3 Bed 2 Bath manufactured home with 2 car detached garage. NO BANK LOANS as the title was never retired to the property so a bank will not loan directly against the property.

Key facts

• Built 1989
• Listed 22 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 3.6% in Coloma — 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 (#218 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities F, commute F.
• Coloma Community Schools (town): math 17% / reading 39% proficiency, ranked #384 of 540 in MI (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 45 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $864 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 32y 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.
• Current owner paid $30k; list at $125k implies a 317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.

Recommended offer $123,125 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.20% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.40%
• DSCR: 1.33
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $182,574
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Sassafrass St	0.12mi	2/1.0 (-1)	1,142 (+1%)	1mo	$135,000	$118	85
134 S Paw Paw St	0.20mi	3/1.0	1,138 (+0%)	7mo	$20,000	$18	82
6550 Red Arrow Hwy	0.23mi	3/1.0	1,135 (+0%)	12mo	$172,300	$152	77
274 E Logan St	0.05mi	3/1.0	1,260 (+11%)	8mo	$175,000	$139	71
321 E Center St	0.15mi	2/1.0 (-1)	996 (-12%)	2mo	$160,000	$161	64
6754 Paw Paw Ave	0.53mi	3/2.0	1,254 (+11%)	0mo	$235,250	$188	55
375 Garry St	0.72mi	3/1.0	1,008 (-11%)	5mo	$188,000	$187	42
6735 Bayview Dr	0.62mi	2/1.0 (-1)	1,036 (-9%)	12mo	$230,000	$222	39

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: -4.9%
• Equity multiple: 0.82×
• Total profit: $-6,417
• Equity at exit: $18,638

10-year hold

• IRR: 4.8%
• Equity multiple: 1.36×
• Total profit: $12,473
• Equity at exit: $10,808

Cash invested: $35,000 (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 49038

• Active inventory: 45
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,500 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$262 /mo · $3,138/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $216

Break-even live

Break-even rent $1,227

Max offer price $125,000

Occupancy floor 81%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
460 N Paw Paw St Coloma, MI	2.0	1.0	700	$1,500	$2.14	44d	1	0.29mi

Listing history 33 events

1. 2026-06-18
   days on market $125,000 Active 22 DOM
2. 2026-06-17
   days on market $125,000 Active 21 DOM
3. 2026-06-16
   days on market $125,000 Active 20 DOM
4. 2026-06-15
   days on market $125,000 Active 19 DOM
5. 2026-06-13
   days on market $125,000 Active 17 DOM
6. 2026-06-12
   days on market $125,000 Active 16 DOM
7. 2026-06-09
   days on market $125,000 Active 13 DOM
8. 2026-06-08
   days on market $125,000 Active 12 DOM
9. 2026-06-07
   days on market $125,000 Active 11 DOM
10. 2026-06-07
    days on market $125,000 Active 10 DOM
11. 2026-06-04
    days on market $125,000 Active 7 DOM
12. 2026-06-02
    days on market $125,000 Active 6 DOM
13. 2026-06-01
    days on market $125,000 Active 5 DOM
14. 2026-05-31
    days on market $125,000 Active 4 DOM
15. 2026-05-31
    days on market $125,000 Active 3 DOM
16. 2026-05-27
    listed $125,000 Active
17. 2025-02-06
    historical $1,500
18. 2024-12-27
    listed $1,500
19. 2023-06-22
    historical
20. 2014-09-25
    historical
21. 2014-09-15
    historical
22. 2010-04-08
    soldstatus $30,000
23. 2010-04-08
    soldstatus $30,000
24. 2010-01-11
    listed $26,900
25. 2010-01-11
    listed $26,900
26. 2010-01-09
    historical
27. 2009-07-09
    listed $84,900
28. 2009-07-09
    listed $84,900
29. 1997-04-12
    historical
30. 1996-10-12
    listed $74,900
31. 1996-10-12
    listed $74,900
32. 1994-05-04
    listed $62,000
33. 1994-05-04
    listed $62,000

ⓘ 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: $3,138 · $262/mo
• Projected year-2 tax: $3,138 · $262/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 · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,000
• − Mortgage interest: −$7,002
• − Property taxes: −$3,138
• − Insurance: −$625
• − Repairs & maintenance: −$1,440
• − Management: −$1,440
• − Depreciation: −$3,636
• Taxable income: $719
• Est. tax owed @ 24.0%: −$172
• After-tax cash flow: $2,418/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: Coloma Community Schools
• NCES district ID: 2610380
• Math proficiency: 17% ▼ -5.00%
• Reading proficiency: 39% ▲ 2.00%
• Median HH income: $48,135
• Composite: 24.28/100
• National rank: #7715
• State rank: #384 of 540 in MI

Livability — Coloma

• Score: 73/100
• State rank: #218
• US rank: #5399

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Coloma, MI
• Population (ZIP): 8,577

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 (82%)
• Race & ethnicity: White 82% Two or more races 9% Black 6% Hispanic / Latino 4%
• Common ancestry: Italian 4% Romanian 4% Iranian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1% 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: ▼ -149.33%
• Current HPI: 237.5873
• Rent YoY: —
• Metro: —
• 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

+101.6% since first listed

18 events — show timeline

• 2026-05-27 Listed $125,000 FSBO.com
• 2025-02-06 Rental Removed $1,500 RENTEC
• 2024-12-27 Listed for Rent $1,500 RENTEC
• 2023-06-22 Rental Removed — RENTEC
• 2014-09-25 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2010-04-08 Sold (MLS) $30,000 REALCOMP
• 2010-04-08 Sold (MLS) $30,000 SW Michigan MLS
• 2010-01-11 Listed $26,900 REALCOMP
• 2010-01-11 Listed $26,900 SW Michigan MLS
• 2010-01-09 Listing Removed — REALCOMP
• 2009-07-09 Listed $84,900 REALCOMP
• 2009-07-09 Listed $84,900 SW Michigan MLS
• 1997-04-12 Listing Removed — REALCOMP
• 1996-10-12 Listed $74,900 REALCOMP
• 1996-10-12 Listed $74,900 SW Michigan MLS
• 1994-05-04 Listed $62,000 SW Michigan MLS
• 1994-05-04 Listed $62,000 REALCOMP

Property tax history

+11.9%/yr

Latest (2024): $3,138 · +4.6% YoY. Source: county tax records.