209 Theodore St · Brownlee Park, MI 49014

$85,000

1 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 176 Days on market

Built 1940 0.52 ac lot $82/sqft · 23% below area Est $110k · 23% under

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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 +27.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.7/10.0
• 1% rule +6.5/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

Key facts

• 0.52 acre lot
• Built 1940
• Listed 176 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($974 rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.8% in Brownlee Park — 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 66/100 on livability (#429 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools F, amenities F, commute F.
• Battle Creek Public Schools (urban): math 8% / reading 19% proficiency, ranked #510 of 540 in MI (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 137 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• This rent is only 17% of the median local income ($69k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Calhoun 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 ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 176 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $85k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 176 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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. 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?
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: 1.15% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.87%
• DSCR: 1.57
• GRM: 7.3

CMA / ARV

• ARV (median comp): $109,708
• List price: $85,000
• Delta: -22.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 Theodore St	0.00mi	2/1.5 (+1)	1,032 (0%)	1mo	$75,000	$73	92
305 Wildwood Ave	0.14mi	2/1.0 (+1)	918 (-11%)	16mo	$110,310	$120	57
504 Funston Ave	0.09mi	2/1.0 (+1)	1,152 (+12%)	21mo	$60,000	$52	54
138 Rook St	0.65mi	2/1.0 (+1)	1,100 (+7%)	5mo	$110,000	$100	50
140 S Princeton St	0.68mi	2/1.0 (+1)	1,163 (+13%)	8mo	$159,000	$137	36

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: 2.7%
• Equity multiple: 1.10×
• Total profit: $2,448
• Equity at exit: $12,674

10-year hold

• IRR: 12.2%
• Equity multiple: 1.96×
• Total profit: $22,937
• Equity at exit: $7,349

Cash invested: $23,800 (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 49014

• Home prices YoY: -28.7%
• Active inventory: 137
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $974 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$34 /mo · $402/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $255

Break-even live

Break-even rent $651

Max offer price $85,000

Occupancy floor 69%

Sensitivity live

Price	-10% $303	-5% $279	+0% $255	+5% $231	+10% $207
Rent	-10% $178	-5% $217	+0% $255	+5% $294	+10% $332
Rate	-1.0pp $298	-0.5pp $277	base $255	+0.5pp $233	+1.0pp $211

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
595 Wagner Dr Unit 22 Battle Creek, MI	1.0	1.0	750	$1,050	$1.40	44d	1	0.98mi
1975 Columbia Ave E Battle Creek, MI	1.0–3.0	1.0	761	$800	$1.05	44d	16	1.00mi
744 E Michigan Ave Unit 11 Battle Creek, MI	2.0	1.0	800	$1,050	$1.31	44d	1	1.01mi
775 Wagner Dr Battle Creek, MI	1.0–2.0	1.0	772	$1,000	$1.29	44d	6	1.06mi

Listing history 13 events

1. 2026-05-07
   status Pending 185-char remark

   Show marketing remark (185 chars)

   This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

2. 2026-05-07
   status Pending 185-char remark

   Show marketing remark (185 chars)

   This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

3. 2026-05-07
   status Pending

   Show marketing remark (185 chars)

   This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

4. 2026-02-04
   price $85,000 185-char remark

   Show marketing remark (185 chars)

   This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

5. 2026-02-04
   price $85,000 185-char remark

   Show marketing remark (185 chars)

   This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

6. 2026-02-04
   price $85,000

   Show marketing remark (185 chars)

   This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

7. 2026-01-02
   price $95,000 185-char remark

   Show marketing remark (185 chars)

   This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

8. 2026-01-01
   price $95,000 185-char remark

   Show marketing remark (185 chars)

   This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

9. 2026-01-01
   price $95,000

   Show marketing remark (185 chars)

   This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

10. 2025-11-12
    listed $100,000 Active 185-char remark

    Show marketing remark (185 chars)

    This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

11. 2025-11-12
    listed $100,000 Active 185-char remark

    Show marketing remark (185 chars)

    This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

12. 2025-11-12
    listed $100,000 Active

    Show marketing remark (185 chars)

    This 2 bedroom 1.5 bath bungalow sits on just over a half an acre. Heated back bonus room could easily be converted into a 3 bedroom. Home does need a little work but is priced to sell!

13. 2001-04-26
    soldstatus $35,000

ⓘ 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: $402 · $34/mo
• Projected year-2 tax: $856 · $71/mo
• Expected delta: +$453/yr (+$38/mo · 112.7%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,694
• − Mortgage interest: −$4,761
• − Property taxes: −$402
• − Insurance: −$425
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$2,473
• Taxable income: $1,762
• Est. tax owed @ 24.0%: −$423
• After-tax cash flow: $2,639/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: Battle Creek Public Schools
• NCES district ID: 2600005
• Math proficiency: 8% ▼ -2.00%
• Reading proficiency: 19% ▬ 0.00%
• Median HH income: $31,697
• Composite: 10.73/100
• National rank: #9769
• State rank: #510 of 540 in MI

Livability — Brownlee Park

• Score: 66/100
• State rank: #429
• US rank: #11906

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brownlee Park, MI
• County: Calhoun County · 91,590 people
• Metro: Battle Creek, MI
• Population (ZIP): 21,980
• Household income: $69,009
• Rent vs Own: 27.0% rent · 73.0% own
• Severe rent burden: 416.0

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 130,157 people
• By 2030: 126,691 · -2.7%
• By 2040: 118,517 · -8.9%
• By 2050: 109,855 · -15.6%
• By 2075: 90,486 · -30.5%
• By 2100: 70,766 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 4% Iranian 3% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 4% Russian/Polish/Slavic 1%

Political lean MEDSL · Calhoun

• 2024 margin: R (+14.1) · D 42.3% · R 56.4% · Other 1.3%
• 2008→2024 swing: -23.4pp toward R · 2008: 9.4pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+11.1 2016: R+12.5 2012: D+1.6 2008: D+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -97.29%
• Current HPI: 241.3422
• Rent YoY: —
• Metro: Battle Creek, 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

+142.9% since first listed

13 events — show timeline

• 2026-05-07 Pending — REALCOMP
• 2026-05-07 Pending — MiRealSource-MiMLS
• 2026-05-07 Pending — SW Michigan MLS
• 2026-02-04 Price Changed $85,000 MiRealSource-MiMLS
• 2026-02-04 Price Changed $85,000 REALCOMP
• 2026-02-04 Price Changed $85,000 SW Michigan MLS
• 2026-01-02 Price Changed $95,000 MiRealSource-MiMLS
• 2026-01-01 Price Changed $95,000 REALCOMP
• 2026-01-01 Price Changed $95,000 SW Michigan MLS
• 2025-11-12 Listed $100,000 REALCOMP
• 2025-11-12 Listed $100,000 SW Michigan MLS
• 2025-11-12 Listed $100,000 MiRealSource-MiMLS
• 2001-04-26 Sold (Public Records) $35,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $402 · -48.9% YoY. Source: county tax records.