3607 Borgess Dr · Comstock Northwest, MI 49048

$125,000

3 bd · 1.0 ba · 1,014 sqft · SingleFamily public records · 1 Days on market

Built 1960 10,454 sqft lot Est $195k · 36% 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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +6.1/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Three-bedroom one bath ranch home with a one car attached garage. Home is being sold as is and needs repairs.

Key facts

• 0.24 acre lot
• Garage
• Built 1960

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Natural gas connected
• Home design: Ranch-style single family residence; Living area approximately 1,014; Built in 1960
• Construction: Aluminum siding; Composition roof; Full foundation
• Exterior features: Public water; Lot about 0.24 acres

Interior

• Kitchen: Microwave; Oven; Refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Six total rooms; Full basement
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 7.9% vs local median 3.6% in Comstock Northwest — 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 (#224 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities D, commute F, health & safety F.
• Comstock Public Schools (suburban): math 18% / reading 32% proficiency, ranked #428 of 540 in MI (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.9%/yr); 154 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $864 of loan paydown is wiped out by about $4k 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 + 7.9% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Recommended offer $125,000

Questions for the listing agent

1. Built in 1960 — 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. 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.
4. 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.
5. 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: 1.11% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.67%
• DSCR: 1.25
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $194,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5007 Fordham Ave	0.40mi	2/2.0 (-1)	972 (-4%)	1mo	$210,000	$216	65
3097 Margaret Ave	0.35mi	3/1.0	1,092 (+8%)	11mo	$210,100	$192	62
1934 Nazareth Rd	0.27mi	3/1.0	1,165 (+15%)	3mo	$159,575	$137	60
3052 Clarice St	0.69mi	3/1.0	1,040 (+3%)	6mo	$235,000	$226	59
2616 Fairfield Ave	0.46mi	2/1.0 (-1)	988 (-3%)	14mo	$141,925	$144	57
5346 E H Ave E	0.59mi	2/1.5 (-1)	960 (-5%)	0mo	$220,000	$229	56
3131 Casper St	0.30mi	3/2.0	960 (-5%)	21mo	$221,500	$231	56
1734 Texel Dr	0.60mi	2/1.0 (-1)	1,080 (+6%)	2mo	$170,000	$157	55
1512 Upland Dr	0.63mi	3/1.0	1,094 (+8%)	8mo	$157,000	$144	51
3221 Miami Ave	0.47mi	2/2.0 (-1)	1,116 (+10%)	2mo	$150,000	$134	50
1707 Sunnyside Dr	0.61mi	2/1.0 (-1)	960 (-5%)	15mo	$179,900	$187	46
1509 Baker Dr	0.62mi	2/1.0 (-1)	864 (-15%)	8mo	$179,900	$208	34

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 · 7.88% rent growth · sell at horizon

5-year hold

• IRR: -1.8%
• Equity multiple: 0.93×
• Total profit: $-2,545
• Equity at exit: $18,638

10-year hold

• IRR: 12.8%
• Equity multiple: 2.25×
• Total profit: $43,904
• Equity at exit: $10,808

Cash invested: $35,000 (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 49048

• Rents YoY: 7.9%
• Active inventory: 154
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,382 high
• Mortgage (P&I): −$656
• Tax from tax record: −$219 /mo · $2,623/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $165

Break-even live

Break-even rent $1,172

Max offer price $125,000

Occupancy floor 83%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2024 Sunnyside Dr Kalamazoo, MI	1.0–2.0	1.0	740	$1,000	$1.35	13d	1	0.30mi
1926 Sunnyside Dr Kalamazoo, MI	2.0	1.5	1020	$1,200	$1.18	21d	1	0.44mi
1928 Colgrove Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	912	$1,390	$1.52	13d	13	1.00mi
621 Washburn Ave Kalamazoo, MI	2.0	1.0	720	$1,300	$1.81	21d	1	1.31mi
4495 Gull Run Dr Kalamazoo, MI	1.0–2.0	1.0–2.0	854	$1,524	$1.78	13d	88	1.35mi
450 Haymac Dr Parchment, MI	1.0–3.0	1.0–2.0	867	$1,375	$1.59	13d	1	1.41mi
5001 Coopers Landing Dr Kalamazoo, MI	1.0–3.0	1.0–2.0	1111	$1,600	$1.44	13d	1	1.48mi

Listing history 2 events

1. 2026-06-07
   remarks 109-char remark
2. 2026-06-07
   listed $125,000 Pending 1 DOM

ⓘ 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: $2,623 · $219/mo
• Projected year-2 tax: $2,623 · $219/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $16,581
• − Mortgage interest: −$7,002
• − Property taxes: −$2,623
• − Insurance: −$625
• − Repairs & maintenance: −$1,326
• − Management: −$1,326
• − Depreciation: −$3,636
• Taxable income: $41
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $1,975/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: Comstock Public Schools
• NCES district ID: 2610590
• Math proficiency: 18% ▼ -2.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $41,293
• Composite: 21.17/100
• National rank: #8423
• State rank: #428 of 540 in MI

Livability — Comstock Northwest

• Score: 73/100
• State rank: #224
• US rank: #5631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Comstock Northwest, MI
• County: Kalamazoo County · 224,317 people
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 22,791
• Household income: $60,454
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 835.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 6% Romanian 4% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% 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: ▼ -205.26%
• Current HPI: 180.4766
• Rent YoY: ▲ 7.88%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-06-06 Pending — SW Michigan MLS
• 2026-06-05 Listing Removed — MiRealSource-MiMLS
• 2026-06-05 Listed $125,000 MiRealSource-MiMLS
• 2026-06-05 Listing Removed — REALCOMP
• 2026-06-05 Listed $125,000 REALCOMP
• 2026-06-05 Listed $125,000 SW Michigan MLS

Property tax history

+4.6%/yr

Latest (2025): $2,623 · +3.9% YoY. Source: county tax records.