545 W Territorial Rd · Battle Creek, MI 49015

$135,000

2 bd · 2.0 ba · 1,224 sqft · SingleFamily public records · 24 Days on market

Built 1930 8,930 sqft lot Est $169k · 20% under

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Why this score? — see what drove the C+ 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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.5/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom, 2-bath bungalow in Lakeview Schools with 1,224 sq ft and 2-car detached garage. Featuring unique Spanish-style character and classic charm throughout, this home offers hardwood floors, a spacious living area, and functional layout. The partially finished basement includes a second full bath for added flexibility. Priced to reflect current condition, this home is a great opportunity for buyers looking to build equity with a little TLC and updates. Convenient location near schools, shopping, and amenities. Great value for space, character, and potential--schedule your showing today.

Key facts

• Hardwood floors
• 8,930 sq ft lot
• 2 garage spots

Tags

• SPANISH-STYLE CHARACTER
• HARDWOOD FLOORS
• PARTIALLY FINISHED BASEMENT
• SHOPPING AND AMENITIES

Property features AI

Exterior

• Parking: Detached garage; 2-car garage
• Utilities: Public water; Natural gas connected; Cable connected; High-speed internet available
• Home design: Single-family residence; Residential property; Built in 1930
• Construction: Stucco construction; Asphalt/composition roof; Foundation includes a full basement
• Exterior features: Paved road access; Lot about 0.21 acres

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Primary bedroom (11 x 10); Second bedroom (11 x 9)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has heating
• Interior features: Gas log fireplace; Window treatments; Full basement; Five total rooms
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 5.3% in Battle Creek — 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 (#198 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities C-, crime F, employment D-.
• Lakeview School District (Calhoun) (urban): math 28% / reading 40% proficiency, ranked #291 of 540 in MI (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lakeview Middle School (math 24% / reading 39%, grade F, #323 of 493 statewide, top 66%, 1,164 students, 68% FRL) — zoned schools average 68% FRL vs 42% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+11.1%/yr); 168 active listings in the ZIP; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $38k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 28y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $135k implies a 214% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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. 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?
4. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $168,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
545 W Territorial Rd	0.00mi	2/2.0	1,278 (+4%)	1mo	$127,000	$99	92
514 Iroquois Ave	0.22mi	2/1.0	1,168 (-5%)	2mo	$168,000	$144	76
223 W Territorial Rd W	0.32mi	3/1.0 (+1)	1,226 (+0%)	1mo	$130,000	$106	75
228 Summer St	0.11mi	3/2.0 (+1)	1,090 (-11%)	3mo	$118,750	$109	69
64 Pleasant Ave	0.34mi	3/1.0 (+1)	1,260 (+3%)	3mo	$174,000	$138	68
329 Surby Ave	0.37mi	3/2.0 (+1)	1,177 (-4%)	6mo	$170,000	$144	66
715 Ingram St	0.55mi	2/1.0	1,208 (-1%)	5mo	$126,000	$104	64
126 Devoll Ct	0.44mi	2/1.5	1,285 (+5%)	7mo	$194,500	$151	63
236 Surby Ave	0.42mi	3/1.0 (+1)	1,144 (-6%)	2mo	$159,900	$140	59
41 Randolph St	0.54mi	3/2.0 (+1)	1,194 (-2%)	8mo	$160,370	$134	59
121 N 21st St N	0.70mi	2/1.0	1,080 (-12%)	4mo	$164,000	$152	40
57 Boulder St	0.71mi	2/1.0	1,362 (+11%)	7mo	$149,000	$109	38

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-84
• Equity at exit: $20,129

10-year hold

• IRR: 14.1%
• Equity multiple: 2.39×
• Total profit: $52,435
• Equity at exit: $11,672

Cash invested: $37,800 (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 49015

• Rents YoY: 11.1%
• Active inventory: 168
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,418 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$131 /mo · $1,574/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $225

Break-even live

Break-even rent $1,133

Max offer price $135,000

Occupancy floor 79%

Sensitivity live

Price	-10% $301	-5% $263	+0% $225	+5% $186	+10% $148
Rent	-10% $113	-5% $169	+0% $225	+5% $281	+10% $337
Rate	-1.0pp $293	-0.5pp $259	base $225	+0.5pp $190	+1.0pp $154

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-04-25
   status Pending 607-char remark

   Show marketing remark (607 chars)

   Charming 2-bedroom, 2-bath bungalow in Lakeview Schools with 1,224 sq ft and 2-car detached garage. Featuring unique Spanish-style character and classic charm throughout, this home offers hardwood floors, a spacious living area, and functional layout. The partially finished basement includes a second full bath for added flexibility. Priced to reflect current condition, this home is a great opportunity for buyers looking to build equity with a little TLC and updates. Convenient location near schools, shopping, and amenities. Great value for space, character, and potential--schedule your showing today.

2. 2026-04-25
   status Pending 607-char remark

   Show marketing remark (607 chars)

   Charming 2-bedroom, 2-bath bungalow in Lakeview Schools with 1,224 sq ft and 2-car detached garage. Featuring unique Spanish-style character and classic charm throughout, this home offers hardwood floors, a spacious living area, and functional layout. The partially finished basement includes a second full bath for added flexibility. Priced to reflect current condition, this home is a great opportunity for buyers looking to build equity with a little TLC and updates. Convenient location near schools, shopping, and amenities. Great value for space, character, and potential--schedule your showing today.

3. 2026-04-25
   status Pending

   Show marketing remark (607 chars)

   Charming 2-bedroom, 2-bath bungalow in Lakeview Schools with 1,224 sq ft and 2-car detached garage. Featuring unique Spanish-style character and classic charm throughout, this home offers hardwood floors, a spacious living area, and functional layout. The partially finished basement includes a second full bath for added flexibility. Priced to reflect current condition, this home is a great opportunity for buyers looking to build equity with a little TLC and updates. Convenient location near schools, shopping, and amenities. Great value for space, character, and potential--schedule your showing today.

4. 2026-04-15
   price $135,000 607-char remark

   Show marketing remark (607 chars)

   Charming 2-bedroom, 2-bath bungalow in Lakeview Schools with 1,224 sq ft and 2-car detached garage. Featuring unique Spanish-style character and classic charm throughout, this home offers hardwood floors, a spacious living area, and functional layout. The partially finished basement includes a second full bath for added flexibility. Priced to reflect current condition, this home is a great opportunity for buyers looking to build equity with a little TLC and updates. Convenient location near schools, shopping, and amenities. Great value for space, character, and potential--schedule your showing today.

5. 2026-04-14
   price $135,000 607-char remark

   Show marketing remark (607 chars)

   Charming 2-bedroom, 2-bath bungalow in Lakeview Schools with 1,224 sq ft and 2-car detached garage. Featuring unique Spanish-style character and classic charm throughout, this home offers hardwood floors, a spacious living area, and functional layout. The partially finished basement includes a second full bath for added flexibility. Priced to reflect current condition, this home is a great opportunity for buyers looking to build equity with a little TLC and updates. Convenient location near schools, shopping, and amenities. Great value for space, character, and potential--schedule your showing today.

6. 2026-04-14
   price $135,000

   Show marketing remark (607 chars)

   Charming 2-bedroom, 2-bath bungalow in Lakeview Schools with 1,224 sq ft and 2-car detached garage. Featuring unique Spanish-style character and classic charm throughout, this home offers hardwood floors, a spacious living area, and functional layout. The partially finished basement includes a second full bath for added flexibility. Priced to reflect current condition, this home is a great opportunity for buyers looking to build equity with a little TLC and updates. Convenient location near schools, shopping, and amenities. Great value for space, character, and potential--schedule your showing today.

7. 2026-04-01
   listed $155,000 Active 607-char remark

   Show marketing remark (607 chars)

   Charming 2-bedroom, 2-bath bungalow in Lakeview Schools with 1,224 sq ft and 2-car detached garage. Featuring unique Spanish-style character and classic charm throughout, this home offers hardwood floors, a spacious living area, and functional layout. The partially finished basement includes a second full bath for added flexibility. Priced to reflect current condition, this home is a great opportunity for buyers looking to build equity with a little TLC and updates. Convenient location near schools, shopping, and amenities. Great value for space, character, and potential--schedule your showing today.

8. 2026-04-01
   listed $155,000 Active 607-char remark

   Show marketing remark (607 chars)

   Charming 2-bedroom, 2-bath bungalow in Lakeview Schools with 1,224 sq ft and 2-car detached garage. Featuring unique Spanish-style character and classic charm throughout, this home offers hardwood floors, a spacious living area, and functional layout. The partially finished basement includes a second full bath for added flexibility. Priced to reflect current condition, this home is a great opportunity for buyers looking to build equity with a little TLC and updates. Convenient location near schools, shopping, and amenities. Great value for space, character, and potential--schedule your showing today.

9. 2026-04-01
   listed $155,000 Active

   Show marketing remark (607 chars)

   Charming 2-bedroom, 2-bath bungalow in Lakeview Schools with 1,224 sq ft and 2-car detached garage. Featuring unique Spanish-style character and classic charm throughout, this home offers hardwood floors, a spacious living area, and functional layout. The partially finished basement includes a second full bath for added flexibility. Priced to reflect current condition, this home is a great opportunity for buyers looking to build equity with a little TLC and updates. Convenient location near schools, shopping, and amenities. Great value for space, character, and potential--schedule your showing today.

10. 2014-09-26
    historical
11. 2014-09-25
    historical
12. 2010-12-10
    soldstatus $43,000
13. 2010-12-10
    soldstatus $43,000
14. 2010-09-16
    listed $43,000
15. 2010-09-16
    listed $43,000
16. 2010-09-16
    historical
17. 2009-12-15
    listed $51,000
18. 2009-12-15
    listed $51,000
19. 2007-11-27
    historical
20. 2007-11-27
    historical
21. 2007-07-16
    listed $89,900
22. 2007-07-16
    listed $89,900
23. 2006-03-17
    historical
24. 2005-11-17
    listed $109,900
25. 2005-11-17
    listed $109,900
26. 2004-12-07
    soldstatus $96,400
27. 2001-08-15
    soldstatus $82,000
28. 1998-06-25
    soldstatus $6,250
29. 1998-06-25
    soldstatus $6,250
30. 1998-04-30
    listed $66,900
31. 1998-04-30
    listed $66,900

ⓘ 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: $1,574 · $131/mo
• Projected year-2 tax: $1,826 · $152/mo
• Expected delta: +$253/yr (+$21/mo · 16.1%)

ⓘ 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 ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,011
• − Mortgage interest: −$7,562
• − Property taxes: −$1,574
• − Insurance: −$675
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − Depreciation: −$3,927
• Taxable income: $551
• Est. tax owed @ 24.0%: −$132
• After-tax cash flow: $2,562/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: Lakeview School District (Calhoun)
• NCES district ID: 2620850
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $52,353
• Composite: 29.7/100
• National rank: #6455
• State rank: #291 of 540 in MI

Livability — Battle Creek

• Score: 73/100
• State rank: #198
• US rank: #5031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Battle Creek, MI
• County: Calhoun County · 91,590 people
• City population: 91,590
• Metro: Battle Creek, MI
• Population (ZIP): 27,765
• Household income: $68,821
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 755.0

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 (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 7% Asian 7% Black 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 4% Lithuanian 4% Romanian 3%
• Foreign-born: 10% · Philippines, Canada
• Languages at home: 86% English-only · Other Asian/Pacific 7% Spanish 4% Other Indo-European 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: ▼ -116.20%
• Current HPI: 206.7754
• Rent YoY: ▲ 11.13%
• 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

+101.8% since first listed

31 events — show timeline

• 2026-04-25 Pending — MiRealSource-MiMLS
• 2026-04-25 Pending — REALCOMP
• 2026-04-25 Pending — SW Michigan MLS
• 2026-04-15 Price Changed $135,000 MiRealSource-MiMLS
• 2026-04-14 Price Changed $135,000 REALCOMP
• 2026-04-14 Price Changed $135,000 SW Michigan MLS
• 2026-04-01 Listed $155,000 SW Michigan MLS
• 2026-04-01 Listed $155,000 REALCOMP
• 2026-04-01 Listed $155,000 MiRealSource-MiMLS
• 2014-09-26 Listing Removed — SW Michigan MLS
• 2014-09-25 Listing Removed — SW Michigan MLS
• 2010-12-10 Sold (MLS) $43,000 REALCOMP
• 2010-12-10 Sold (MLS) $43,000 SW Michigan MLS
• 2010-09-16 Listing Removed — REALCOMP
• 2010-09-16 Listed $43,000 REALCOMP
• 2010-09-16 Listed $43,000 SW Michigan MLS
• 2009-12-15 Listed $51,000 REALCOMP
• 2009-12-15 Listed $51,000 SW Michigan MLS
• 2007-11-27 Listing Removed — SW Michigan MLS
• 2007-11-27 Listing Removed — REALCOMP
• 2007-07-16 Listed $89,900 SW Michigan MLS
• 2007-07-16 Listed $89,900 REALCOMP
• 2006-03-17 Listing Removed — REALCOMP
• 2005-11-17 Listed $109,900 REALCOMP
• 2005-11-17 Listed $109,900 SW Michigan MLS
• 2004-12-07 Sold (Public Records) $96,400 Public Records
• 2001-08-15 Sold (Public Records) $82,000 Public Records
• 1998-06-25 Sold (MLS) $6,250 REALCOMP
• 1998-06-25 Sold (MLS) $6,250 SW Michigan MLS
• 1998-04-30 Listed $66,900 REALCOMP
• 1998-04-30 Listed $66,900 SW Michigan MLS

Property tax history

-1.5%/yr

Latest (2025): $1,574 · -25.0% YoY. Source: county tax records.