2326 S Burdick St · Kalamazoo, MI 49001

$150,000

4 bd · 2.5 ba · 1,920 sqft · SingleFamily public records · 117 Days on market

Built 1927 4,792 sqft lot Est $294k · 49% under ↓ 25% since listing

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Why this score? — see what drove the B- 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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +6.7/10.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located just minutes from downtown Kalamazoo and its shops, dining, and entertainment, this 4-bedroom, 2.5-bath home offers great potential with a little TLC. The main level welcomes you with a cozy fireplace in the living room, plus an additional room that could serve as a formal dining area or extra living space. The dining area opens to the kitchen with room for a breakfast nook and includes a convenient half bath nearby. Upstairs, you'll find all four bedrooms along with two full bathrooms, offering a functional layout and plenty of space to make it your own.

Key facts

• Breakfast nook
• Extra living space
• Formal dining area

Tags

• COZY FIREPLACE
• FORMAL DINING AREA
• EXTRA LIVING SPACE
• BREAKFAST NOOK
• FUNCTIONAL LAYOUT

Property features AI

Exterior

• Parking: Carport (no attached garage)
• Utilities: Public water
• Home design: Traditional single-family residence; 1927 construction
• Construction: Wood siding; Composition roof; Built in 1927
• Exterior features: Public water; 0.11-acre lot

Interior

• Kitchen: Open kitchen area adjacent to original dining and living rooms (part of family room area)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Fireplace; 9 total rooms; Crawl space and partial basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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.
• Zoned schools: Parkwoodupjohn Elementary School (463 students, 58% FRL); Milwood Magnet School (math 24% / reading 75%, grade C, #125 of 493 statewide, top 25%, 742 students, 76% FRL); Loy Norrix High School (math 47% / reading 82%, grade B-, #46 of 713 statewide, top 7%, 1,771 students, 68% FRL) — zoned schools at 67% FRL track the district average.
• Market conditions: Rents rising fast (+6.4%/yr); 109 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 37% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $4k 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 + 6.4% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 8.44%
• Cash-on-cash: 7.68%
• DSCR: 1.34
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $293,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 Edgemoor Ave	0.20mi	3/1.5 (-1)	1,918 (-0%)	4mo	$286,000	$149	78
2332 S Rose St	0.17mi	3/1.5 (-1)	1,880 (-2%)	8mo	$288,250	$153	73
2607 Outlook St	0.22mi	4/2.0	2,040 (+6%)	6mo	$349,900	$172	72
411 Edgemoor Ave	0.36mi	3/2.0 (-1)	1,905 (-1%)	11mo	$280,000	$147	66
2412 Glenwood Dr	0.49mi	3/2.5 (-1)	1,802 (-6%)	1mo	$310,000	$172	61
910 Miller Rd	0.68mi	3/2.0 (-1)	1,907 (-1%)	1mo	$201,000	$105	60
227 Whitcomb St	0.49mi	3/2.0 (-1)	2,025 (+6%)	4mo	$195,000	$96	58
2825 Duke St	0.73mi	4/1.5	1,942 (+1%)	5mo	$300,000	$154	55
1816 High	0.41mi	3/1.5 (-1)	1,742 (-9%)	9mo	$143,000	$82	49
2338 Glenwood Dr	0.49mi	3/3.5 (-1)	1,711 (-11%)	3mo	$418,000	$244	48
420 Montrose Ave	0.40mi	3/1.5 (-1)	1,668 (-13%)	5mo	$290,000	$174	47
40 Ridgewood St	0.33mi	3/1.0 (-1)	1,636 (-15%)	6mo	$230,000	$141	44

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 · 6.41% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-908
• Equity at exit: $22,365

10-year hold

• IRR: 12.6%
• Equity multiple: 2.16×
• Total profit: $48,899
• Equity at exit: $12,969

Cash invested: $42,000 (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 49001

• Rents YoY: 6.4%
• Active inventory: 109
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,751 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$266 /mo · $3,191/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $269

Break-even live

Break-even rent $1,411

Max offer price $150,000

Occupancy floor 80%

Sensitivity live

Price	-10% $354	-5% $311	+0% $269	+5% $226	+10% $184
Rent	-10% $130	-5% $199	+0% $269	+5% $338	+10% $407
Rate	-1.0pp $344	-0.5pp $307	base $269	+0.5pp $230	+1.0pp $190

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	15d	12	1.19mi

Listing history 37 events

1. 2026-06-21
   days on market $150,000 Active 117 DOM
2. 2026-06-18
   days on market $150,000 Active 114 DOM
3. 2026-06-17
   days on market $150,000 Active 113 DOM
4. 2026-06-16
   days on market $150,000 Active 112 DOM
5. 2026-06-15
   days on market $150,000 Active 111 DOM
6. 2026-06-14
   days on market $150,000 Active 109 DOM
7. 2026-06-13
   days on market $150,000 Active 108 DOM
8. 2026-06-10
   days on market $150,000 Active 106 DOM
9. 2026-06-09
   days on market $150,000 Active 105 DOM
10. 2026-06-08
    days on market $150,000 Active 104 DOM
11. 2026-06-07
    days on market $150,000 Active 103 DOM
12. 2026-06-05
    days on market $150,000 Active 100 DOM
13. 2026-06-03
    days on market $150,000 Active 99 DOM
14. 2026-06-02
    days on market $150,000 Active 98 DOM
15. 2026-06-01
    days on market $150,000 Active 97 DOM
16. 2026-05-31
    days on market $150,000 Active 96 DOM
17. 2026-05-30
    days on market $150,000 Active 95 DOM
18. 2026-05-07
    price $150,000 569-char remark

    Show marketing remark (569 chars)

    Located just minutes from downtown Kalamazoo and its shops, dining, and entertainment, this 4-bedroom, 2.5-bath home offers great potential with a little TLC. The main level welcomes you with a cozy fireplace in the living room, plus an additional room that could serve as a formal dining area or extra living space. The dining area opens to the kitchen with room for a breakfast nook and includes a convenient half bath nearby. Upstairs, you'll find all four bedrooms along with two full bathrooms, offering a functional layout and plenty of space to make it your own.

19. 2026-05-07
    price $150,000 569-char remark

    Show marketing remark (569 chars)

    Located just minutes from downtown Kalamazoo and its shops, dining, and entertainment, this 4-bedroom, 2.5-bath home offers great potential with a little TLC. The main level welcomes you with a cozy fireplace in the living room, plus an additional room that could serve as a formal dining area or extra living space. The dining area opens to the kitchen with room for a breakfast nook and includes a convenient half bath nearby. Upstairs, you'll find all four bedrooms along with two full bathrooms, offering a functional layout and plenty of space to make it your own.

20. 2026-05-07
    price $150,000

    Show marketing remark (569 chars)

    Located just minutes from downtown Kalamazoo and its shops, dining, and entertainment, this 4-bedroom, 2.5-bath home offers great potential with a little TLC. The main level welcomes you with a cozy fireplace in the living room, plus an additional room that could serve as a formal dining area or extra living space. The dining area opens to the kitchen with room for a breakfast nook and includes a convenient half bath nearby. Upstairs, you'll find all four bedrooms along with two full bathrooms, offering a functional layout and plenty of space to make it your own.

21. 2026-02-24
    listed $170,000 Active 569-char remark

    Show marketing remark (569 chars)

    Located just minutes from downtown Kalamazoo and its shops, dining, and entertainment, this 4-bedroom, 2.5-bath home offers great potential with a little TLC. The main level welcomes you with a cozy fireplace in the living room, plus an additional room that could serve as a formal dining area or extra living space. The dining area opens to the kitchen with room for a breakfast nook and includes a convenient half bath nearby. Upstairs, you'll find all four bedrooms along with two full bathrooms, offering a functional layout and plenty of space to make it your own.

22. 2026-02-24
    listed $170,000 Active 569-char remark

    Show marketing remark (569 chars)

    Located just minutes from downtown Kalamazoo and its shops, dining, and entertainment, this 4-bedroom, 2.5-bath home offers great potential with a little TLC. The main level welcomes you with a cozy fireplace in the living room, plus an additional room that could serve as a formal dining area or extra living space. The dining area opens to the kitchen with room for a breakfast nook and includes a convenient half bath nearby. Upstairs, you'll find all four bedrooms along with two full bathrooms, offering a functional layout and plenty of space to make it your own.

23. 2026-02-24
    listed $170,000 Active

    Show marketing remark (569 chars)

    Located just minutes from downtown Kalamazoo and its shops, dining, and entertainment, this 4-bedroom, 2.5-bath home offers great potential with a little TLC. The main level welcomes you with a cozy fireplace in the living room, plus an additional room that could serve as a formal dining area or extra living space. The dining area opens to the kitchen with room for a breakfast nook and includes a convenient half bath nearby. Upstairs, you'll find all four bedrooms along with two full bathrooms, offering a functional layout and plenty of space to make it your own.

24. 2022-01-27
    soldstatus $200,000
25. 2022-01-13
    soldstatus $200,000 Sold
26. 2022-01-13
    soldstatus $200,000 Sold
27. 2021-11-08
    status Pending
28. 2021-11-08
    status Pending
29. 2021-10-30
    price $179,000
30. 2021-10-29
    price $179,000
31. 2021-10-26
    price $185,000
32. 2021-10-26
    price $185,000
33. 2021-10-17
    price $197,900
34. 2021-10-17
    price $197,900
35. 2021-10-12
    listed $199,900 Active
36. 2021-10-12
    listed $199,900 Active
37. 2021-10-12
    listed $179,000

ⓘ 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: $3,191 · $266/mo
• Projected year-2 tax: $3,191 · $266/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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,018
• − Mortgage interest: −$8,402
• − Property taxes: −$3,191
• − Insurance: −$750
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − Depreciation: −$4,364
• Taxable income: $948
• Est. tax owed @ 24.0%: −$227
• After-tax cash flow: $2,996/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): 20,946
• Household income: $56,432
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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 0.59)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 15% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 6% Iranian 4% Slovak 3%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 11% Arabic 2% Other Indo-European 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: ▼ -264.90%
• Current HPI: 206.9355
• Rent YoY: ▲ 6.41%
• 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

-25.0% since first listed

20 events — show timeline

• 2026-05-07 Price Changed $150,000 MiRealSource-MiMLS
• 2026-05-07 Price Changed $150,000 REALCOMP
• 2026-05-07 Price Changed $150,000 SW Michigan MLS
• 2026-02-24 Listed $170,000 SW Michigan MLS
• 2026-02-24 Listed $170,000 REALCOMP
• 2026-02-24 Listed $170,000 MiRealSource-MiMLS
• 2022-01-27 Sold (Public Records) $200,000 Public Records
• 2022-01-13 Sold (MLS) $200,000 SW Michigan MLS
• 2022-01-13 Sold (MLS) $200,000 REALCOMP
• 2021-11-08 Pending — REALCOMP
• 2021-11-08 Pending — SW Michigan MLS
• 2021-10-30 Price Changed $179,000 REALCOMP
• 2021-10-29 Price Changed $179,000 SW Michigan MLS
• 2021-10-26 Price Changed $185,000 REALCOMP
• 2021-10-26 Price Changed $185,000 SW Michigan MLS
• 2021-10-17 Price Changed $197,900 REALCOMP
• 2021-10-17 Price Changed $197,900 SW Michigan MLS
• 2021-10-12 Listed $179,000 MiRealSource-MiMLS
• 2021-10-12 Listed $199,900 SW Michigan MLS
• 2021-10-12 Listed $199,900 REALCOMP

Property tax history

+11.9%/yr

Latest (2025): $3,191 · +0.3% YoY. Source: county tax records.