108 Hutchinson St · Kalamazoo, MI 49001

$199,900

6 bd · 2.0 ba · 1,741 sqft · SingleFamily public records · 32 Days on market

Built 1941 0.44 ac lot

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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 +9.4/30.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.8/5.0
• 1% rule +3.4/10.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent income-producing opportunity in Kalamazoo! 108 Hutchinson features three rental units with strong cash flow already in place. Unit 1 is a spacious 3-bedroom apartment currently rented for $1,130/month. Unit 2 is a 1-bedroom unit bringing in $600/month, while Unit 3 is a desirable 2-bedroom apartment located above the garage and currently rented for $850/month. With a total monthly rental income of $2,580, this property makes a fantastic addition to any investment portfolio. Newer roof; newer furnaces and water heaters. Landlord pays Water/sewer & trash. Conveniently located near downtown Kalamazoo, shopping, dining, and local amenities, this multi-unit property offers steady income potential and long-term upside for investors looking to expand their portfolio.

Key facts

• 0.44 acre lot
• 6 parking spots
• Built 1941

Property features AI

Finance

• Other: Lot approximately 0.44 acres (118.8 x 160 feet)
• Financial info: Annual tax listed

Exterior

• Parking: 6 parking spaces
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Cable connected
• Home design: Multi-family residential income property
• Construction: Vinyl siding
• Exterior features: Public water; Public sewer; Cable connected; Electricity connected; Natural gas connected; Sewer available; Cross street: S. Burdick and Ash

Interior

• Bedrooms: 3-bedroom unit (Unit 1); 2-bedroom unit above garage (Unit 3); 1-bedroom unit (Unit 2)
• Bathrooms: Unit 1: 1 bathroom; Unit 2: 1 bathroom
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-143 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $175k (12.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (15.8% below list).
• Recommended offer: $168k (15.8% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 4.1% 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: Parkwoodupjohn Elementary School (463 students, 58% FRL); Milwood Magnet School (math 24% / reading 75%, grade C, #125 of 493 statewide, top 25%, 742 students, 76% 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 67% FRL track the district average.
• Market conditions: Rents rising fast (+6.4%/yr); 109 active listings in the ZIP; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 36% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 32 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y 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 $25k; list at $200k implies a 700% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $168,251 (15.8% 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. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.84% ✗
• Cap rate: 5.43%
• Cash-on-cash: -3.07%
• DSCR: 0.86
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 6.41% rent growth · sell at horizon

5-year hold

• IRR: -17.4%
• Equity multiple: 0.37×
• Total profit: $-35,455
• Equity at exit: $29,806

10-year hold

• IRR: -3.7%
• Equity multiple: 0.71×
• Total profit: $-16,001
• Equity at exit: $17,284

Cash invested: $55,972 (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 49001

• Rents YoY: 6.4%
• Active inventory: 109
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,683 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$341 /mo · $4,088/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $-143

Break-even live

Break-even rent $1,864

Max offer price $174,621

Occupancy floor —

Sensitivity live

Price	-10% $-30	-5% $-87	+0% $-143	+5% $-200	+10% $-256
Rent	-10% $-276	-5% $-210	+0% $-143	+5% $-77	+10% $-10
Rate	-1.0pp $-42	-0.5pp $-92	base $-143	+0.5pp $-195	+1.0pp $-248

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-21
   days on market $199,900 Active 32 DOM
2. 2026-06-18
   days on market $199,900 Active 29 DOM
3. 2026-06-17
   days on market $199,900 Active 28 DOM
4. 2026-06-16
   days on market $199,900 Active 27 DOM
5. 2026-06-15
   days on market $199,900 Active 26 DOM
6. 2026-06-14
   days on market $199,900 Active 24 DOM
7. 2026-06-13
   days on market $199,900 Active 23 DOM
8. 2026-06-10
   days on market $199,900 Active 21 DOM
9. 2026-06-09
   days on market $199,900 Active 20 DOM
10. 2026-06-08
    days on market $199,900 Active 19 DOM
11. 2026-06-07
    days on market $199,900 Active 18 DOM
12. 2026-06-05
    days on market $199,900 Active 15 DOM
13. 2026-06-03
    days on market $199,900 Active 14 DOM
14. 2026-06-02
    days on market $199,900 Active 13 DOM
15. 2026-06-01
    days on market $199,900 Active 12 DOM
16. 2026-05-31
    days on market $199,900 Active 11 DOM
17. 2026-05-30
    days on market $199,900 Active 10 DOM
18. 2026-05-10
    listed $199,900 Active

    Show marketing remark (786 chars)

    Excellent income-producing opportunity in Kalamazoo! 108 Hutchinson features three rental units with strong cash flow already in place. Unit 1 is a spacious 3-bedroom apartment currently rented for $1,130/month. Unit 2 is a 1-bedroom unit bringing in $600/month, while Unit 3 is a desirable 2-bedroom apartment located above the garage and currently rented for $850/month. With a total monthly rental income of $2,580, this property makes a fantastic addition to any investment portfolio. Newer roof; newer furnaces and water heaters. Landlord pays Water/sewer & trash. Conveniently located near downtown Kalamazoo, shopping, dining, and local amenities, this multi-unit property offers steady income potential and long-term upside for investors looking to expand their portfolio.

19. 2026-05-10
    listed $199,900 Active

    Show marketing remark (786 chars)

    Excellent income-producing opportunity in Kalamazoo! 108 Hutchinson features three rental units with strong cash flow already in place. Unit 1 is a spacious 3-bedroom apartment currently rented for $1,130/month. Unit 2 is a 1-bedroom unit bringing in $600/month, while Unit 3 is a desirable 2-bedroom apartment located above the garage and currently rented for $850/month. With a total monthly rental income of $2,580, this property makes a fantastic addition to any investment portfolio. Newer roof; newer furnaces and water heaters. Landlord pays Water/sewer & trash. Conveniently located near downtown Kalamazoo, shopping, dining, and local amenities, this multi-unit property offers steady income potential and long-term upside for investors looking to expand their portfolio.

20. 2010-01-15
    soldstatus $25,000 216-char remark

    Show marketing remark (216 chars)

    Great location for this three unit that offers easy access to downtown and I94. Home has potential for you to fix up and rent out. Home is being sold AS IS. Buyer to verify any and all information pertaining to home.

21. 2009-12-16
    listed $32,000 216-char remark

    Show marketing remark (216 chars)

    Great location for this three unit that offers easy access to downtown and I94. Home has potential for you to fix up and rent out. Home is being sold AS IS. Buyer to verify any and all information pertaining to home.

22. 2009-12-14
    historical
23. 2009-11-10
    listed $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: $4,088 · $341/mo
• Projected year-2 tax: $4,088 · $341/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 ≥98°F today · 15 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: $20,190
• − Mortgage interest: −$11,198
• − Property taxes: −$4,088
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − Depreciation: −$5,815
• Taxable loss: −$5,141
• Est. tax savings @ 24.0%: +$1,234
• After-tax cash flow: $-483/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: 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): 20,946
• Household income: $56,432
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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 0.59)
• Race & ethnicity: White 58% Black 22% Hispanic / Latino 15% Two or more races 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 6% Iranian 4% Slovak 3%
• Foreign-born: 9% · Canada
• Languages at home: 84% English-only · Spanish 11% Arabic 2% Other Indo-European 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: ▼ -264.90%
• Current HPI: 206.9355
• Rent YoY: ▲ 6.41%
• 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

+471.1% since first listed

6 events — show timeline

• 2026-05-10 Listed $199,900 REALCOMP
• 2026-05-10 Listed $199,900 MiRealSource-MiMLS
• 2010-01-15 Sold (MLS) $25,000 SW Michigan MLS
• 2009-12-16 Listed $32,000 SW Michigan MLS
• 2009-12-14 Listing Removed — SW Michigan MLS
• 2009-11-10 Listed $35,000 SW Michigan MLS

Property tax history

+3.7%/yr

Latest (2025): $4,088 · +3.0% YoY. Source: county tax records.