4111 Nancy Ln · Kalamazoo, MI 49006

$64,900

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 73 Days on market

Built 2015 Good condition ↓ 7% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated 3-bedroom, 2-bathroom home offering comfort, style, and affordability all in one! Located in a convenient Kalamazoo community, this home is perfect for first-time buyers, downsizers, or anyone looking for low-maintenance living. New concrete driveway, 2 new large sheds, new flooring, drywall and paint throughout along with a newer roof. The central air unit has been cleaned out and covered every winter. This home has been impeccably maintained! Must have park approval. Contact us for information on lenders.

Key facts

• New drywall
• Newer roof
• New flooring

Tags

• NEW CONCRETE DRIVEWAY
• NEW FLOORING
• NEW DRYWALL
• NEW PAINT
• NEWER ROOF
• CENTRAL AIR UNIT

Property features AI

Exterior

• Home design: Ranch style; Residential property; Built in 2015
• Construction: Aluminum siding
• Exterior features: Paved road access; Shed on the property

Interior

• Kitchen: Dishwasher, Disposal, Microwave, Oven, Refrigerator
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Three total rooms; Dishwasher, Disposal, Microwave, Oven, Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $669 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.7% vs local median 4.2% 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: Arcadia Elementary School (354 students, 83% FRL); Maple Street Magnet School For The Arts (math 75% / reading 75%, grade A, #8 of 493 statewide, top 3%, 860 students, 59% 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 70% FRL track the district average.
• Zoned-school proficiency averages 70% at this address vs 58% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Kalamazoo Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.4%/yr); 105 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 39% of the median local income ($44k/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 $449 of loan paydown is wiped out by about $2k 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 + 3.4% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $61,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.18% ✓
• Cap rate: 18.66%
• Cash-on-cash: 44.17%
• DSCR: 2.97
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.39% rent growth · sell at horizon

5-year hold

• IRR: 41.6%
• Equity multiple: 2.80×
• Total profit: $32,661
• Equity at exit: $9,677

10-year hold

• IRR: 48.0%
• Equity multiple: 5.72×
• Total profit: $85,685
• Equity at exit: $5,611

Cash invested: $18,172 (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 49006

• Rents YoY: 3.4%
• Active inventory: 105
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,414 high
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $669

Break-even live

Break-even rent $568

Max offer price $64,900

Occupancy floor 48%

Sensitivity live

Price	-10% $714	-5% $691	+0% $669	+5% $646	+10% $624
Rent	-10% $557	-5% $613	+0% $669	+5% $725	+10% $781
Rate	-1.0pp $702	-0.5pp $685	base $669	+0.5pp $652	+1.0pp $635

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3614 Stadium Dr Kalamazoo, MI	1.0–3.0	1.0–2.0	928	$1,550	$1.67	15d	1	0.33mi
4130 W Michigan Ave Kalamazoo, MI	1.0–2.0	1.0–2.0	625	$972	$1.56	15d	4	0.38mi
4346 N Hills Dr Kalamazoo, MI	2.0–4.0	2.0–4.0	1093	$1,200	$1.10	22d	1	0.43mi
4520 Dover Hills Dr Kalamazoo, MI	1.0–2.0	1.0–2.0	987	$1,525	$1.54	15d	12	0.55mi
1010 Emajean St Kalamazoo, MI	2.0–4.0	1.0–3.0	1249	$1,100	$0.88	22d	1	0.58mi
3409 W Michigan Ave Unit 1 Kalamazoo, MI	2.0	1.5	884	$985	$1.11	15d	1	0.62mi
704 S Drake Rd Kalamazoo, MI	1.0–3.0	1.0–1.5	887	$1,295	$1.46	15d	16	0.83mi
1800 S 11th St Kalamazoo, MI	1.0–2.0	1.0	635	$999	$1.57	22d	9	0.91mi
1201 Greenwood Ave Unit 1 Kalamazoo, MI	2.0	2.0	1000	$1,200	$1.20	22d	1	0.95mi
5500 W KL Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	836	$1,349	$1.61	15d	1	1.04mi
690 Dragonfly Rd Kalamazoo, MI	1.0–3.0	1.0–2.0	969	$1,192	$1.23	15d	32	1.05mi
320 S Drake Rd Kalamazoo, MI	2.0	1.0	950	$1,020	$1.07	22d	1	1.25mi
3403 Lowden St Kalamazoo, MI	3.0	1.0	840	$1,500	$1.79	15d	1	1.27mi
167 N Drake Rd Kalamazoo, MI	2.0	2.0	1200	$1,395	$1.16	22d	1	1.29mi
332 S Kendall Ave Kalamazoo, MI	1.0–2.0	1.0–2.0	780	$1,175	$1.51	22d	4	1.34mi
2487 Chestnut Hills Dr Kalamazoo, MI	1.0–2.0	1.0	750	$1,350	$1.80	15d	4	1.36mi
3707 Greenleaf Cir Kalamazoo, MI	1.0–2.0	1.0	862	$1,444	$1.68	15d	22	1.37mi
5900 Copper Beech Blvd Kalamazoo, MI	1.0–4.0	1.0–4.5	1325	$916	$0.69	15d	1	1.47mi
6065 Fairgrove St Kalamazoo, MI	3.0	3.0	1400	$2,000	$1.43	15d	1	1.48mi
3400 Woodstone Dr Kalamazoo, MI	2.0	1.0–2.0	806	$1,695	$2.10	15d	1	1.48mi
125 S Kendall Ave Kalamazoo, MI	1.0–2.0	1.0–1.5	735	$1,000	$1.36	22d	6	1.49mi

Listing history 24 events

1. 2026-06-21
   days on market $64,900 Active 73 DOM
2. 2026-06-18
   days on market $64,900 Active 70 DOM
3. 2026-06-17
   days on market $64,900 Active 69 DOM
4. 2026-06-16
   days on market $64,900 Active 68 DOM
5. 2026-06-15
   price $64,900 Active 67 DOM
6. 2026-06-15
   days on market $69,900 Active 67 DOM
7. 2026-06-14
   days on market $69,900 Active 65 DOM
8. 2026-06-13
   days on market $69,900 Active 64 DOM
9. 2026-06-10
   days on market $69,900 Active 62 DOM
10. 2026-06-09
    days on market $69,900 Active 61 DOM
11. 2026-06-08
    days on market $69,900 Active 60 DOM
12. 2026-06-07
    days on market $69,900 Active 59 DOM
13. 2026-06-05
    days on market $69,900 Active 56 DOM
14. 2026-06-03
    days on market $69,900 Active 55 DOM
15. 2026-06-02
    days on market $69,900 Active 54 DOM
16. 2026-06-01
    days on market $69,900 Active 53 DOM
17. 2026-05-31
    days on market $69,900 Active 52 DOM
18. 2026-05-30
    days on market $69,900 Active 51 DOM
19. 2026-05-20
    price $69,900 548-char remark

    Show marketing remark (548 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bathroom home offering comfort, style, and affordability all in one! Located in a convenient Kalamazoo community, this home is perfect for first-time buyers, downsizers, or anyone looking for low-maintenance living. New concrete driveway, 2 new large sheds, new flooring, drywall and paint throughout along with a newer roof. The central air unit has been cleaned out and covered every winter. This home has been impeccably maintained! Must have park approval. Contact us for information on lenders.

20. 2026-05-20
    price $69,900 548-char remark

    Show marketing remark (548 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bathroom home offering comfort, style, and affordability all in one! Located in a convenient Kalamazoo community, this home is perfect for first-time buyers, downsizers, or anyone looking for low-maintenance living. New concrete driveway, 2 new large sheds, new flooring, drywall and paint throughout along with a newer roof. The central air unit has been cleaned out and covered every winter. This home has been impeccably maintained! Must have park approval. Contact us for information on lenders.

21. 2026-05-20
    price $69,900

    Show marketing remark (548 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bathroom home offering comfort, style, and affordability all in one! Located in a convenient Kalamazoo community, this home is perfect for first-time buyers, downsizers, or anyone looking for low-maintenance living. New concrete driveway, 2 new large sheds, new flooring, drywall and paint throughout along with a newer roof. The central air unit has been cleaned out and covered every winter. This home has been impeccably maintained! Must have park approval. Contact us for information on lenders.

22. 2026-04-10
    listed $74,900 Active 548-char remark

    Show marketing remark (548 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bathroom home offering comfort, style, and affordability all in one! Located in a convenient Kalamazoo community, this home is perfect for first-time buyers, downsizers, or anyone looking for low-maintenance living. New concrete driveway, 2 new large sheds, new flooring, drywall and paint throughout along with a newer roof. The central air unit has been cleaned out and covered every winter. This home has been impeccably maintained! Must have park approval. Contact us for information on lenders.

23. 2026-04-09
    listed $74,900 Active 548-char remark

    Show marketing remark (548 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bathroom home offering comfort, style, and affordability all in one! Located in a convenient Kalamazoo community, this home is perfect for first-time buyers, downsizers, or anyone looking for low-maintenance living. New concrete driveway, 2 new large sheds, new flooring, drywall and paint throughout along with a newer roof. The central air unit has been cleaned out and covered every winter. This home has been impeccably maintained! Must have park approval. Contact us for information on lenders.

24. 2026-04-09
    listed $74,900 Active

    Show marketing remark (548 chars)

    Welcome to this beautifully updated 3-bedroom, 2-bathroom home offering comfort, style, and affordability all in one! Located in a convenient Kalamazoo community, this home is perfect for first-time buyers, downsizers, or anyone looking for low-maintenance living. New concrete driveway, 2 new large sheds, new flooring, drywall and paint throughout along with a newer roof. The central air unit has been cleaned out and covered every winter. This home has been impeccably maintained! Must have park approval. Contact us for information on lenders.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,972
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$1,358
• − Management: −$1,358
• − Depreciation: −$1,888
• Taxable income: $7,435
• Est. tax owed @ 24.0%: −$1,785
• After-tax cash flow: $6,242/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This beautifully updated 3-bedroom, 2-bathroom home offers comfort, style, and affordability all in one. The home has been impeccably maintained and is ready for new owners to move in and enjoy.

Value-add opportunities

• Both Paint interior walls and trim — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Replace countertops in kitchen — Modern countertops can improve the kitchen's functionality and appearance.
• Both Install new lighting fixtures — New lighting can brighten the interior and improve the home's curb appeal.
• Both Landscaping and curb appeal improvements — Enhanced landscaping can improve the home's curb appeal and attract potential buyers/tenants.
• Both Replace outdated appliances in kitchen — Modern appliances can improve the home's functionality and appeal to potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls and trim — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Replace countertops in kitchen — Modern countertops can improve the kitchen's functionality and appearance. ↑
• Both Install new lighting fixtures — New lighting can brighten the interior and improve the home's curb appeal. ↑
• Both Landscaping and curb appeal improvements — Enhanced landscaping can improve the home's curb appeal and attract potential buyers/tenants. ↑
• Both Replace outdated appliances in kitchen — Modern appliances can improve the home's functionality and appeal to potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 26,507
• Household income: $43,639
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2581.0

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 0.55)
• Race & ethnicity: White 65% Black 14% Two or more races 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 6% Romanian 4% Italian 3%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 2%

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: ▼ -235.52%
• Current HPI: 243.4367
• Rent YoY: ▲ 3.39%
• 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

-6.7% since first listed

6 events — show timeline

• 2026-05-20 Price Changed $69,900 MiRealSource-MiMLS
• 2026-05-20 Price Changed $69,900 REALCOMP
• 2026-05-20 Price Changed $69,900 SW Michigan MLS
• 2026-04-10 Listed $74,900 REALCOMP
• 2026-04-09 Listed $74,900 SW Michigan MLS
• 2026-04-09 Listed $74,900 MiRealSource-MiMLS