561 Heck Ct · Benton Harbor, MI 49022

$86,999

4 bd · 3.0 ba · 2,558 sqft · SingleFamily public records · 29 Days on market

Built 1912 9,148 sqft lot $34/sqft · 39% above area Est $63k · 39% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment opportunity in the City of Benton Harbor! This 3-unit multifamily property at 561 Heck Ct is already generating $1,850/month in rental income with long-term tenants in place on month-to-month leases, offering immediate cash flow and future flexibility for investors. Major mechanical updates have already been completed, including a newer roof that is just over 1 year old and three separate furnaces all under 5 years old. Conveniently located near local amenities and positioned for continued rental demand, this property is a solid addition to any investment portfolio--whether you're looking to expand your holdings or get started in multifamily investing. Call for your private showing today!

Key facts

• Rental demand
• Newer roof
• Multifamily property

Tags

• MULTIFAMILY PROPERTY
• RENTAL INCOME
• NEWER ROOF
• THREE SEPARATE FURNACES
• LOCAL AMENITIES
• RENTAL DEMAND

Property features AI

Finance

• Financial info: Rental income: Unit rents listed as $650, $650 and $550

Exterior

• Parking: Total of 4 parking spaces; Other parking features (unspecified)
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected
• Home design: Multi-family residential income property; Two-story building (units on main and upper levels); Subdivision: CHASES; Cross street near Britain and Pipestone
• Construction: Vinyl siding; Wood siding; Composition roof
• Exterior features: Level lot; Paved road access; Publicly maintained road

Interior

• Bedrooms: Main-level 1-bedroom unit; Upper-level 2-bedroom unit; Main-level additional unit (studio/bedroom not specified)
• Bathrooms: One bathroom in each unit
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Partial basement
• Laundry & utility: No laundry on-site (none listed)

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $622 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $87k).
• Recommended offer: $86k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 8.3% in Benton Harbor — 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 55/100 on livability (#671 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Benton Harbor Area Schools (urban): math 4% / reading 7% proficiency, ranked #732 of 760 in MI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fair Plain Middle School (math 0% / reading 4%, grade F, #493 of 493 statewide, top 100%, 288 students, 97% FRL); Fair Plain Middle School (math 0% / reading 4%, grade F, #493 of 493 statewide, top 100%, 288 students, 97% FRL); Benton Harbor High School (math 5% / reading 5%, grade F, #704 of 713 statewide, top 100%, 495 students, 97% FRL).
• Market conditions: 184 active listings in the ZIP; 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 $601 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 13y 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 $60k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,694 (1.5% below list)

Questions for the listing agent

1. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-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. 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?
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: 1.74% ✓
• Cap rate: 14.88%
• Cash-on-cash: 30.65%
• DSCR: 2.36
• GRM: 4.8

CMA / ARV

• ARV (median comp): $62,787
• List price: $86,999
• Delta: 59.27%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
576 Colfax Ave	0.59mi	4/2.5	2,470 (-3%)	7mo	$295,000	$119	58
749 Pipestone St	0.24mi	3/2.0 (-1)	2,288 (-11%)	13mo	$237,114	$104	51
600 Territorial Rd	0.74mi	4/1.5	2,239 (-12%)	18mo	$115,000	$51	24

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: 25.4%
• Equity multiple: 2.05×
• Total profit: $25,541
• Equity at exit: $12,972

10-year hold

• IRR: 33.1%
• Equity multiple: 4.01×
• Total profit: $73,300
• Equity at exit: $7,522

Cash invested: $24,360 (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 49022

• Active inventory: 184
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,515 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$82 /mo · $987/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $622

Break-even live

Break-even rent $728

Max offer price $86,999

Occupancy floor 54%

Sensitivity live

Price	-10% $672	-5% $647	+0% $622	+5% $598	+10% $573
Rent	-10% $503	-5% $562	+0% $622	+5% $682	+10% $742
Rate	-1.0pp $666	-0.5pp $644	base $622	+0.5pp $600	+1.0pp $577

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Listing history 47 events

1. 2026-06-22
   days on market $86,999 Active 29 DOM
2. 2026-06-19
   days on market $86,999 Active 27 DOM
3. 2026-06-18
   days on market $86,999 Active 26 DOM
4. 2026-06-17
   days on market $86,999 Active 25 DOM
5. 2026-06-16
   days on market $86,999 Active 24 DOM
6. 2026-06-15
   price $86,999 Active 23 DOM

   Show marketing remark (708 chars)

   Investment opportunity in the City of Benton Harbor! This 3-unit multifamily property at 561 Heck Ct is already generating $1,850/month in rental income with long-term tenants in place on month-to-month leases, offering immediate cash flow and future flexibility for investors. Major mechanical updates have already been completed, including a newer roof that is just over 1 year old and three separate furnaces all under 5 years old. Conveniently located near local amenities and positioned for continued rental demand, this property is a solid addition to any investment portfolio--whether you're looking to expand your holdings or get started in multifamily investing. Call for your private showing today!

7. 2026-06-15
   days on market $89,999 Active 23 DOM

   Show marketing remark (708 chars)

   Investment opportunity in the City of Benton Harbor! This 3-unit multifamily property at 561 Heck Ct is already generating $1,850/month in rental income with long-term tenants in place on month-to-month leases, offering immediate cash flow and future flexibility for investors. Major mechanical updates have already been completed, including a newer roof that is just over 1 year old and three separate furnaces all under 5 years old. Conveniently located near local amenities and positioned for continued rental demand, this property is a solid addition to any investment portfolio--whether you're looking to expand your holdings or get started in multifamily investing. Call for your private showing today!

8. 2026-06-14
   days on market $89,999 Active 21 DOM
9. 2026-06-13
   days on market $89,999 Active 20 DOM
10. 2026-06-10
    days on market $89,999 Active 18 DOM
11. 2026-06-09
    days on market $89,999 Active 17 DOM
12. 2026-06-08
    days on market $89,999 Active 16 DOM
13. 2026-06-07
    days on market $89,999 Active 15 DOM
14. 2026-06-03
    days on market $89,999 Active 11 DOM
15. 2026-06-02
    days on market $89,999 Active 10 DOM
16. 2026-06-01
    days on market $89,999 Active 9 DOM
17. 2026-05-31
    days on market $89,999 Active 8 DOM
18. 2026-05-30
    days on market $89,999 Active 7 DOM
19. 2026-05-14
    price $94,999 520-char remark
20. 2026-05-14
    price $94,999 520-char remark
21. 2026-03-05
    status Active 520-char remark
22. 2026-03-05
    status Active 520-char remark
23. 2026-02-12
    historical Accepting Backup Offers 520-char remark
24. 2026-02-12
    historical Active Under Contract 520-char remark
25. 2026-01-16
    price $99,999 520-char remark
26. 2026-01-15
    price $99,999 520-char remark
27. 2026-01-07
    listed $109,999 Active 520-char remark
28. 2026-01-07
    listed $109,999 Active 520-char remark
29. 2026-01-05
    historical
30. 2026-01-05
    historical
31. 2025-12-15
    price $109,999
32. 2025-12-14
    price $109,999
33. 2025-12-10
    listed $119,999 Active
34. 2025-12-10
    listed $119,999 Active
35. 2024-10-16
    soldstatus $59,900
36. 2024-10-11
    soldstatus $59,900 Sold
37. 2024-10-11
    soldstatus $59,900 Closed
38. 2024-10-03
    historical Accepting Backup Offers
39. 2024-10-03
    historical Accepting Backup Offers
40. 2024-09-27
    listed $67,900 Active
41. 2024-09-27
    listed $67,900 Active
42. 2015-03-11
    soldstatus $12,900
43. 2015-03-11
    soldstatus $12,900
44. 2015-02-05
    listed $12,900
45. 2015-02-05
    listed $12,900
46. 2014-09-17
    historical
47. 2013-11-07
    listed $17,820

ⓘ 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: $987 · $82/mo
• Projected year-2 tax: $1,163 · $97/mo
• Expected delta: +$176/yr (+$15/mo · 17.9%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,182
• − Mortgage interest: −$4,873
• − Property taxes: −$987
• − Insurance: −$435
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − Depreciation: −$2,531
• Taxable income: $6,447
• Est. tax owed @ 24.0%: −$1,547
• After-tax cash flow: $5,920/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: Benton Harbor Area Schools
• NCES district ID: 2604830
• Math proficiency: 4% ▬ 0.00%
• Reading proficiency: 7% ▬ 0.00%
• Median HH income: $27,038
• Composite: 7.53/100
• National rank: #14787
• State rank: #732 of 760 in MI

Livability — Benton Harbor

• Score: 55/100
• State rank: #671
• US rank: #23724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benton Harbor, MI
• Population (ZIP): 29,796

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 50% White 37% Hispanic / Latino 7% Two or more races 6% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

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: ▼ -309.81%
• Current HPI: 209.9723
• 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

+388.2% since first listed

35 events — show timeline

• 2026-06-15 Price Changed $86,999 MiRealSource-MiMLS
• 2026-06-15 Price Changed $86,999 REALCOMP
• 2026-05-23 Listed $89,999 REALCOMP
• 2026-05-23 Listed $89,999 MiRealSource-MiMLS
• 2026-05-22 Listing Removed — MiRealSource-MiMLS
• 2026-05-22 Listing Removed — REALCOMP
• 2026-05-14 Price Changed $94,999 MiRealSource-MiMLS
• 2026-05-14 Price Changed $94,999 REALCOMP
• 2026-03-05 Relisted — REALCOMP
• 2026-03-05 Relisted — MiRealSource-MiMLS
• 2026-02-12 Contingent — MiRealSource-MiMLS
• 2026-02-12 Contingent — REALCOMP
• 2026-01-16 Price Changed $99,999 MiRealSource-MiMLS
• 2026-01-15 Price Changed $99,999 REALCOMP
• 2026-01-07 Listed $109,999 MiRealSource-MiMLS
• 2026-01-07 Listed $109,999 REALCOMP
• 2026-01-05 Listing Removed — MiRealSource-MiMLS
• 2026-01-05 Listing Removed — REALCOMP
• 2025-12-15 Price Changed $109,999 MiRealSource-MiMLS
• 2025-12-14 Price Changed $109,999 REALCOMP
• 2025-12-10 Listed $119,999 REALCOMP
• 2025-12-10 Listed $119,999 MiRealSource-MiMLS
• 2024-10-16 Sold (Public Records) $59,900 Public Records
• 2024-10-11 Sold (MLS) $59,900 MiRealSource-MiMLS
• 2024-10-11 Sold (MLS) $59,900 REALCOMP
• 2024-10-03 Contingent — REALCOMP
• 2024-10-03 Contingent — MiRealSource-MiMLS
• 2024-09-27 Listed $67,900 MiRealSource-MiMLS
• 2024-09-27 Listed $67,900 REALCOMP
• 2015-03-11 Sold (MLS) $12,900 SW Michigan MLS
• 2015-03-11 Sold (MLS) $12,900 REALCOMP
• 2015-02-05 Listed $12,900 SW Michigan MLS
• 2015-02-05 Listed $12,900 REALCOMP
• 2014-09-17 Listing Removed — SW Michigan MLS
• 2013-11-07 Listed $17,820 SW Michigan MLS

Property tax history

+12.4%/yr

Latest (2024): $987 · -61.4% YoY. Source: county tax records.