1089 Broadway · Benton Harbor, MI 49022

$30,000

3 bd · 1.0 ba · 748 sqft · SingleFamily public records · 10 Days on market

Built 1920

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

This is a 748 square foot, 2 bedroom, 1.0 bathroom home. This home is located at 1089 Broadway Ave, Benton Harbor, MI 49022.

Key facts

• Built 1920
• Listed 9 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Cap rate 32.1% vs local median 7.4% 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: schools F, crime F, amenities 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.
• Market conditions: 179 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 $207 of loan paydown is wiped out by about $900 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,000

Questions for the listing agent

1. Built in 1920 — 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: 3.69% ✓
• Cap rate: 32.13%
• Cash-on-cash: 92.29%
• DSCR: 5.11
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $110,704
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1027 Superior St	0.20mi	2/1.0 (-1)	780 (+4%)	5mo	$109,900	$141	75
1332 Columbus Ave	0.33mi	2/1.0 (-1)	744 (-0%)	12mo	$110,000	$148	69
157 Cross St	0.22mi	2/1.0 (-1)	730 (-2%)	17mo	$129,900	$178	67
1152 Jennings Ave	0.36mi	2/1.0 (-1)	720 (-4%)	8mo	$92,000	$128	65
1221 Pearl St	0.18mi	2/1.0 (-1)	845 (+13%)	1mo	$124,000	$147	65
244 Parker Ave	0.45mi	3/1.0	776 (+4%)	11mo	$118,900	$153	64
270 Helmar Ct	0.68mi	2/1.0 (-1)	750 (+0%)	4mo	$137,000	$183	60
1199 Monroe St	0.34mi	2/1.0 (-1)	840 (+12%)	4mo	$129,900	$155	55
299 W May St	0.49mi	2/1.0 (-1)	737 (-2%)	20mo	$105,000	$142	53
1119 Bishop Ave	0.44mi	2/1.0 (-1)	780 (+4%)	19mo	$89,500	$115	52
280 Helmar Ct	0.68mi	2/1.0 (-1)	740 (-1%)	16mo	$148,000	$200	48
1336 Agard Ave	0.62mi	2/1.0 (-1)	800 (+7%)	9mo	$116,750	$146	47

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: 93.1%
• Equity multiple: 5.32×
• Total profit: $36,316
• Equity at exit: $4,473

10-year hold

• IRR: 95.9%
• Equity multiple: 11.09×
• Total profit: $84,727
• Equity at exit: $2,594

Cash invested: $8,400 (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: 179
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,107 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$59 /mo · $704/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $646

Break-even live

Break-even rent $289

Max offer price $30,000

Occupancy floor 37%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1903 Union Ave Benton Harbor, MI	1.0–2.0	1.0	613	$1,107	$1.81	44d	2	1.21mi

Listing history 9 events

1. 2026-06-19
   days on market $30,000 Active 10 DOM
2. 2026-06-18
   days on market $30,000 Active 9 DOM
3. 2026-06-17
   days on market $30,000 Active 8 DOM
4. 2026-06-16
   days on market $30,000 Active 7 DOM
5. 2026-06-15
   days on market $30,000 Active 6 DOM
6. 2026-06-14
   days on market $30,000 Active 4 DOM
7. 2026-06-13
   days on market $30,000 Active 3 DOM
8. 2026-06-10
   remarks 124-char remark
9. 2026-06-10
   listed $30,000 Active 1 DOM

ⓘ 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: $704 · $59/mo
• Projected year-2 tax: $704 · $59/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 · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,284
• − Mortgage interest: −$1,680
• − Property taxes: −$704
• − Insurance: −$150
• − Repairs & maintenance: −$1,063
• − Management: −$1,063
• − Depreciation: −$873
• Taxable income: $7,751
• Est. tax owed @ 24.0%: −$1,860
• After-tax cash flow: $5,892/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

1 event — show timeline

• 2026-06-10 Listed $30,000 FSBO.com

Property tax history

+13.2%/yr

Latest (2024): $704 · +4.2% YoY. Source: county tax records.