13518 E C Ave · South Gull Lake, MI 49060

$109,000

3 bd · 1.0 ba · 1,684 sqft · SingleFamily public records · 1 Days on market

Built 1953 3.30 ac lot

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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 +25.1/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Schools +4.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home on 3.3 acres in Gull Lake Schools. This property has a lot of potential.

Key facts

• 3.3 acre lot
• Built 1953

Property features AI

Exterior

• Utilities: Well water; Natural gas water heater
• Home design: Single-family residential property
• Construction: Built in 1953; Wood siding; Composition roof
• Exterior features: Wooded lot; Shed(s) on the property; Paved road access

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Has heating
• Interior features: Eight total rooms; Partial Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).

Location & tenants

• Location reads 44/100 on livability (#687 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Gull Lake Community Schools (suburban): math 40% / reading 59% proficiency, ranked #93 of 540 in MI (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: 5 active listings in the ZIP; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,000

Questions for the listing agent

1. Built in 1953 — 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. 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.
4. 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.
5. 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: 1.17% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.48%
• DSCR: 1.42
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.0%
• Equity multiple: 0.93×
• Total profit: $-2,277
• Equity at exit: $16,252

10-year hold

• IRR: 7.7%
• Equity multiple: 1.59×
• Total profit: $17,899
• Equity at exit: $9,424

Cash invested: $30,520 (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 49060

• Home prices YoY: -27.7%
• Active inventory: 5
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,271 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$146 /mo · $1,755/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $241

Break-even live

Break-even rent $966

Max offer price $109,000

Occupancy floor 76%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-15
   remarks 77-char remark

   Show marketing remark (77 chars)

   Home on 3.3 acres in Gull Lake Schools. This property has a lot of potential.

2. 2026-06-15
   listed $109,000 Pending 1 DOM

   Show marketing remark (77 chars)

   Home on 3.3 acres in Gull Lake Schools. This property has a lot of potential.

ⓘ 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: $1,755 · $146/mo
• Projected year-2 tax: $1,755 · $146/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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $15,257
• − Mortgage interest: −$6,106
• − Property taxes: −$1,755
• − Insurance: −$545
• − Repairs & maintenance: −$1,221
• − Management: −$1,221
• − Depreciation: −$3,171
• Taxable income: $1,240
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $2,597/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: Gull Lake Community Schools
• NCES district ID: 2617250
• Math proficiency: 40% ▼ -6.00%
• Reading proficiency: 59% ▼ -3.00%
• Median HH income: $64,763
• Composite: 43.71/100
• National rank: #2952
• State rank: #93 of 540 in MI

Livability — South Gull Lake

• Score: 44/100
• State rank: #687
• US rank: #26750

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,750

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: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 4%
• Common ancestry: German 7% Iranian 3% Lithuanian 3%
• Foreign-born: 0%
• Languages at home: 95% English-only · German/W. Germanic 4% Other Indo-European 1% Other Asian/Pacific 1%

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: ▼ -76.64%
• Current HPI: 199.9607
• 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

+0.0% since first listed

4 events — show timeline

• 2026-06-15 Pending — SW Michigan MLS
• 2026-06-15 Listing Removed — MiRealSource-MiMLS
• 2026-06-15 Listed $109,000 MiRealSource-MiMLS
• 2026-06-15 Listed $109,000 SW Michigan MLS

Property tax history

+10.2%/yr

Latest (2025): $1,755 · +2.3% YoY. Source: county tax records.