8889 Cowley Ct · Richland, MI 49083

$299,900

3 bd · 2.5 ba · 2,016 sqft · SingleFamily public records · 5 Days on market

Built 2008 6,534 sqft lot Est $304k · at est. $110/mo HOA · 4% of rent

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Why this score? — see what drove the D- 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 +11.4/30.0
• ARV discount +8.2/15.0
• Schools +4.4/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into a space that instantly feels like home. This charming property features bright, open living areas, cozy touches throughout, and a layout that flows effortlessly from room to room. Whether you're hosting guests or enjoying a quiet evening in, this home offers the perfect backdrop for making lasting memories. Spacious kitchen with wood cabinetry, den, half bath and Atrium door to the impressive outdoor living space, featuring a large deck with a built-in canopy designed for comfort and style. Take in stunning sunset skies--ideal for entertaining and end of day moments alike. Upstairs, you'll find three comfortable bedrooms along with 2 full baths and a versatile Flex space ideal as a media room, game space, or additional living area. Recently painted interior to freshen the appeal of turn-key. Plus an unfinished basement for future expansion. Located in PHASE 1 of Gilmore Farms --This home in tucked away on a quiet cul-de-sac and a new owner benefits from use of the

Key facts

• Large deck
• Flex space
• Spacious kitchen

Tags

• SPACIOUS KITCHEN
• OUTDOOR LIVING SPACE
• LARGE DECK
• BUILT-IN CANOPY
• FLEX SPACE
• UNFINISHED BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $281k (6.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $260k (13.3% below list).
• Recommended offer: $260k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.1% in Richland — 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 73/100 on livability (#222 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A; Watch: amenities F, commute F, health & safety 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: 129 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 18y ago 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.
• Current owner paid $230k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $260,000 (13.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.87% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.51%
• DSCR: 0.93
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $304,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8889 Cowley Ct	0.00mi	3/2.5	2,047 (+2%)	1mo	$299,000	$146	97
8854 Aveling Way	0.16mi	3/2.5	2,016 (0%)	0mo	$305,000	$151	92
8797 E Sturtevant Ave	0.11mi	4/2.0 (+1)	2,072 (+3%)	4mo	$309,900	$150	80
8025 W Sturtevant Ave	0.29mi	3/2.0	2,060 (+2%)	2mo	$311,100	$151	79
8010 W Sturtevant Ave	0.33mi	3/2.0	2,060 (+2%)	2mo	$290,000	$141	78
8119 Lausen Ln	0.34mi	3/2.0	2,060 (+2%)	2mo	$285,000	$138	77
8816 E Sturtevant Ave	0.08mi	4/2.5 (+1)	1,882 (-7%)	4mo	$339,900	$181	76
8142 W Sturtevant Ave	0.34mi	3/2.0	2,060 (+2%)	3mo	$301,000	$146	76
8794 E Sturtevant Ave	0.11mi	4/2.5 (+1)	1,882 (-7%)	5mo	$344,990	$183	75
8199 W Sturtevant Ave	0.33mi	3/2.0	1,883 (-7%)	1mo	$319,000	$169	71
8728 E Sturtevant Ave	0.31mi	4/2.5 (+1)	1,882 (-7%)	6mo	$339,900	$181	64
8780 E Sturtevant Ave	0.31mi	4/2.5 (+1)	1,830 (-9%)	4mo	$334,900	$183	62

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: -18.7%
• Equity multiple: 0.34×
• Total profit: $-55,229
• Equity at exit: $44,716

10-year hold

• IRR: -11.1%
• Equity multiple: 0.33×
• Total profit: $-56,376
• Equity at exit: $25,930

Cash invested: $83,972 (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 49083

• Active inventory: 129
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,600 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$352 /mo · $4,223/yr
• Insurance: −$125
• HOA: −$110
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $-106

Break-even live

Break-even rent $2,734

Max offer price $281,247

Occupancy floor 99%

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8331 W Sturtevant Ave Richland, MI	4.0	2.5	1822	$2,600	$1.43	43d	1	0.31mi

HOA detail

• Monthly dues: $110 · $1,320/yr

Listing history 17 events

1. 2026-04-27
   status Pending 988-char remark

   Show marketing remark (1161 chars)

   Step into a space that instantly feels like home. This charming property features bright, open living areas, cozy touches throughout, and a layout that flows effortlessly from room to room. Whether you're hosting guests or enjoying a quiet evening in, this home offers the perfect backdrop for making lasting memories. Spacious kitchen with wood cabinetry, den, half bath and Atrium door to the impressive outdoor living space, featuring a large deck with a built-in canopy designed for comfort and style. Take in stunning sunset skies--ideal for entertaining and end of day moments alike. Upstairs, you'll find three comfortable bedrooms along with 2 full baths and a versatile Flex space ideal as a media room, game space, or additional living area. Recently painted interior to freshen the appeal of turn-key. Plus an unfinished basement for future expansion. Located in PHASE 1 of Gilmore Farms --This home in tucked away on a quiet cul-de-sac and a new owner benefits from use of theclubhouse pool, kids splash pad, park, playground & abundant walking trails, excellent for relaxing and summer fun! Move-in ready and made for living --don't miss it.

2. 2026-04-27
   status Pending 1161-char remark

   Show marketing remark (1161 chars)

   Step into a space that instantly feels like home. This charming property features bright, open living areas, cozy touches throughout, and a layout that flows effortlessly from room to room. Whether you're hosting guests or enjoying a quiet evening in, this home offers the perfect backdrop for making lasting memories. Spacious kitchen with wood cabinetry, den, half bath and Atrium door to the impressive outdoor living space, featuring a large deck with a built-in canopy designed for comfort and style. Take in stunning sunset skies--ideal for entertaining and end of day moments alike. Upstairs, you'll find three comfortable bedrooms along with 2 full baths and a versatile Flex space ideal as a media room, game space, or additional living area. Recently painted interior to freshen the appeal of turn-key. Plus an unfinished basement for future expansion. Located in PHASE 1 of Gilmore Farms --This home in tucked away on a quiet cul-de-sac and a new owner benefits from use of theclubhouse pool, kids splash pad, park, playground & abundant walking trails, excellent for relaxing and summer fun! Move-in ready and made for living --don't miss it.

3. 2026-04-27
   status Pending

   Show marketing remark (1161 chars)

   Step into a space that instantly feels like home. This charming property features bright, open living areas, cozy touches throughout, and a layout that flows effortlessly from room to room. Whether you're hosting guests or enjoying a quiet evening in, this home offers the perfect backdrop for making lasting memories. Spacious kitchen with wood cabinetry, den, half bath and Atrium door to the impressive outdoor living space, featuring a large deck with a built-in canopy designed for comfort and style. Take in stunning sunset skies--ideal for entertaining and end of day moments alike. Upstairs, you'll find three comfortable bedrooms along with 2 full baths and a versatile Flex space ideal as a media room, game space, or additional living area. Recently painted interior to freshen the appeal of turn-key. Plus an unfinished basement for future expansion. Located in PHASE 1 of Gilmore Farms --This home in tucked away on a quiet cul-de-sac and a new owner benefits from use of theclubhouse pool, kids splash pad, park, playground & abundant walking trails, excellent for relaxing and summer fun! Move-in ready and made for living --don't miss it.

4. 2026-04-22
   listed $299,900 Active 988-char remark

   Show marketing remark (1161 chars)

   Step into a space that instantly feels like home. This charming property features bright, open living areas, cozy touches throughout, and a layout that flows effortlessly from room to room. Whether you're hosting guests or enjoying a quiet evening in, this home offers the perfect backdrop for making lasting memories. Spacious kitchen with wood cabinetry, den, half bath and Atrium door to the impressive outdoor living space, featuring a large deck with a built-in canopy designed for comfort and style. Take in stunning sunset skies--ideal for entertaining and end of day moments alike. Upstairs, you'll find three comfortable bedrooms along with 2 full baths and a versatile Flex space ideal as a media room, game space, or additional living area. Recently painted interior to freshen the appeal of turn-key. Plus an unfinished basement for future expansion. Located in PHASE 1 of Gilmore Farms --This home in tucked away on a quiet cul-de-sac and a new owner benefits from use of theclubhouse pool, kids splash pad, park, playground & abundant walking trails, excellent for relaxing and summer fun! Move-in ready and made for living --don't miss it.

5. 2026-04-22
   listed $299,900 Active 1161-char remark

   Show marketing remark (1161 chars)

   Step into a space that instantly feels like home. This charming property features bright, open living areas, cozy touches throughout, and a layout that flows effortlessly from room to room. Whether you're hosting guests or enjoying a quiet evening in, this home offers the perfect backdrop for making lasting memories. Spacious kitchen with wood cabinetry, den, half bath and Atrium door to the impressive outdoor living space, featuring a large deck with a built-in canopy designed for comfort and style. Take in stunning sunset skies--ideal for entertaining and end of day moments alike. Upstairs, you'll find three comfortable bedrooms along with 2 full baths and a versatile Flex space ideal as a media room, game space, or additional living area. Recently painted interior to freshen the appeal of turn-key. Plus an unfinished basement for future expansion. Located in PHASE 1 of Gilmore Farms --This home in tucked away on a quiet cul-de-sac and a new owner benefits from use of theclubhouse pool, kids splash pad, park, playground & abundant walking trails, excellent for relaxing and summer fun! Move-in ready and made for living --don't miss it.

6. 2026-04-22
   listed $299,900 Active

   Show marketing remark (1161 chars)

   Step into a space that instantly feels like home. This charming property features bright, open living areas, cozy touches throughout, and a layout that flows effortlessly from room to room. Whether you're hosting guests or enjoying a quiet evening in, this home offers the perfect backdrop for making lasting memories. Spacious kitchen with wood cabinetry, den, half bath and Atrium door to the impressive outdoor living space, featuring a large deck with a built-in canopy designed for comfort and style. Take in stunning sunset skies--ideal for entertaining and end of day moments alike. Upstairs, you'll find three comfortable bedrooms along with 2 full baths and a versatile Flex space ideal as a media room, game space, or additional living area. Recently painted interior to freshen the appeal of turn-key. Plus an unfinished basement for future expansion. Located in PHASE 1 of Gilmore Farms --This home in tucked away on a quiet cul-de-sac and a new owner benefits from use of theclubhouse pool, kids splash pad, park, playground & abundant walking trails, excellent for relaxing and summer fun! Move-in ready and made for living --don't miss it.

7. 2022-10-05
   soldstatus $230,000
8. 2016-08-09
   soldstatus $156,000
9. 2016-08-01
   soldstatus $156,000
10. 2016-08-01
    soldstatus $156,000 Sold
11. 2016-07-20
    status Pending
12. 2016-06-10
    listed $162,500 Active
13. 2016-06-10
    listed $162,500
14. 2008-11-25
    soldstatus $149,295
15. 2008-11-25
    soldstatus $149,295
16. 2008-11-24
    listed $149,295
17. 2008-11-24
    listed $149,295

ⓘ 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: $4,223 · $352/mo
• Projected year-2 tax: $4,421 · $368/mo
• Expected delta: +$198/yr (+$16/mo · 4.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥99°F today · 16 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: $31,200
• − Mortgage interest: −$16,799
• − Property taxes: −$4,223
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,496
• − Management: −$2,496
• − HOA: −$1,320
• − Depreciation: −$8,724
• Taxable loss: −$6,358
• Est. tax savings @ 24.0%: +$1,526
• After-tax cash flow: $259/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 — Richland

• Score: 73/100
• State rank: #222
• US rank: #5563

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 8,110
• Population (ZIP): 8,110

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 4% Black 2%
• Common ancestry: Iranian 14% Romanian 7% Italian 3%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% German/W. Germanic 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: ▼ -152.73%
• Current HPI: 235.3459
• 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

+100.9% since first listed

17 events — show timeline

• 2026-04-27 Pending — MiRealSource-MiMLS
• 2026-04-27 Pending — REALCOMP
• 2026-04-27 Pending — SW Michigan MLS
• 2026-04-22 Listed $299,900 SW Michigan MLS
• 2026-04-22 Listed $299,900 REALCOMP
• 2026-04-22 Listed $299,900 MiRealSource-MiMLS
• 2022-10-05 Sold (Public Records) $230,000 Public Records
• 2016-08-09 Sold (Public Records) $156,000 Public Records
• 2016-08-01 Sold (MLS) $156,000 SW Michigan MLS
• 2016-08-01 Sold (MLS) $156,000 REALCOMP
• 2016-07-20 Pending — SW Michigan MLS
• 2016-06-10 Listed $162,500 SW Michigan MLS
• 2016-06-10 Listed $162,500 REALCOMP
• 2008-11-25 Sold (MLS) $149,295 REALCOMP
• 2008-11-25 Sold (MLS) $149,295 SW Michigan MLS
• 2008-11-24 Listed $149,295 REALCOMP
• 2008-11-24 Listed $149,295 SW Michigan MLS

Property tax history

+0.4%/yr

Latest (2025): $4,223 · +5.3% YoY. Source: county tax records.