659 Stephanie St · Level Park-Oak Park, MI 49037

$104,900

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 69 Days on market

Built 1950 8,712 sqft lot $146/sqft · 11% below area Est $118k · 11% 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 +24.7/30.0
• ARV discount +12.6/15.0
• DSCR +8.0/10.0
• 1% rule +5.3/10.0
• Rent growth +5.0/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for a home that has everything on the main floor, 2 bedrooms, 1 full bathroom, main floor laundry, eating area off the kitchen, Liivng room. 1 car attached garage, rear deck, front porch, fenced back yard.

Key facts

• Fenced back yard
• Front porch
• Main floor laundry

Tags

• MAIN FLOOR LAUNDRY
• EATING AREA OFF KITCHEN
• REAR DECK
• FRONT PORCH
• FENCED BACK YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.8% in Level Park-Oak 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: Rents rising fast (+11.8%/yr); 237 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($43k/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 $725 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 + 8.0% rent growth), your $29k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 2y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,606 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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.
6. 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.
7. 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: 1.03% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.96%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (median comp): $118,357
• List price: $104,900
• Delta: -11.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
647 Stephanie St	0.04mi	2/1.0	768 (+7%)	3mo	$131,000	$171	85
213 Broadway Blvd	0.62mi	2/1.0	720 (0%)	2mo	$122,736	$170	70
180 N Woodlawn Ave	0.60mi	2/1.0	720 (0%)	4mo	$153,000	$213	69
422 Wellington Ave	0.48mi	2/1.0	763 (+6%)	0mo	$50,000	$66	67
639 Wellington Ave	0.20mi	2/1.0	672 (-7%)	16mo	$80,000	$119	67
601 Simmons Ave	0.21mi	3/1.0 (+1)	768 (+7%)	17mo	$111,000	$145	60
203 Broadway Blvd	0.62mi	2/1.0	720 (0%)	16mo	$100,000	$139	58
196 Morgan Ave W	0.71mi	2/1.0	757 (+5%)	2mo	$145,000	$192	57
232 N Woodlawn Ave	0.58mi	2/1.0	672 (-7%)	7mo	$137,900	$205	56
244 N Woodlawn Ave N	0.58mi	2/1.0	672 (-7%)	8mo	$132,500	$197	55
201 Sigel Ave	0.70mi	2/1.0	694 (-4%)	16mo	$139,000	$200	48
214 N Woodlawn Ave	0.59mi	2/1.0	672 (-7%)	19mo	$142,000	$211	46

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: 2.2%
• Equity multiple: 1.09×
• Total profit: $2,644
• Equity at exit: $15,641

10-year hold

• IRR: 15.9%
• Equity multiple: 2.57×
• Total profit: $46,117
• Equity at exit: $9,070

Cash invested: $29,372 (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 49037

• Home prices YoY: -29.0%
• Rents YoY: 11.8%
• Active inventory: 237
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,080 medium
• Mortgage (P&I): −$550
• Tax from tax record: −$40 /mo · $482/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $219

Break-even live

Break-even rent $803

Max offer price $104,900

Occupancy floor 75%

Sensitivity live

Price	-10% $279	-5% $249	+0% $219	+5% $190	+10% $160
Rent	-10% $134	-5% $177	+0% $219	+5% $262	+10% $305
Rate	-1.0pp $272	-0.5pp $246	base $219	+0.5pp $192	+1.0pp $165

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 Stringham Rd Battle Creek, MI	1.0–2.0	1.0–1.5	850	$1,075	$1.26	14d	7	0.90mi

Listing history 45 events

1. 2026-06-21
   days on market $104,900 Active 69 DOM
2. 2026-06-19
   days on market $104,900 Active 67 DOM
3. 2026-06-18
   days on market $104,900 Active 66 DOM
4. 2026-06-17
   days on market $104,900 Active 65 DOM
5. 2026-06-16
   days on market $104,900 Active 64 DOM
6. 2026-06-15
   days on market $104,900 Active 63 DOM
7. 2026-06-14
   days on market $104,900 Active 61 DOM
8. 2026-06-13
   pricedays on market $104,900 Active 60 DOM
9. 2026-06-10
   days on market $112,000 Active 58 DOM
10. 2026-06-09
    days on market $112,000 Active 57 DOM
11. 2026-06-08
    days on market $112,000 Active 56 DOM
12. 2026-06-07
    days on market $112,000 Active 55 DOM
13. 2026-06-05
    days on market $112,000 Active 52 DOM
14. 2026-06-02
    days on market $112,000 Active 50 DOM
15. 2026-06-01
    days on market $112,000 Active 49 DOM
16. 2026-05-31
    days on market $112,000 Active 48 DOM
17. 2026-05-30
    days on market $112,000 Active 47 DOM
18. 2026-05-12
    price $112,000 213-char remark

    Show marketing remark (213 chars)

    Looking for a home that has everything on the main floor, 2 bedrooms, 1 full bathroom, main floor laundry, eating area off the kitchen, Liivng room. 1 car attached garage, rear deck, front porch, fenced back yard.

19. 2026-05-12
    price $112,000 213-char remark

    Show marketing remark (213 chars)

    Looking for a home that has everything on the main floor, 2 bedrooms, 1 full bathroom, main floor laundry, eating area off the kitchen, Liivng room. 1 car attached garage, rear deck, front porch, fenced back yard.

20. 2026-05-12
    price $112,000

    Show marketing remark (213 chars)

    Looking for a home that has everything on the main floor, 2 bedrooms, 1 full bathroom, main floor laundry, eating area off the kitchen, Liivng room. 1 car attached garage, rear deck, front porch, fenced back yard.

21. 2026-04-13
    listed $115,000 Active 213-char remark

    Show marketing remark (213 chars)

    Looking for a home that has everything on the main floor, 2 bedrooms, 1 full bathroom, main floor laundry, eating area off the kitchen, Liivng room. 1 car attached garage, rear deck, front porch, fenced back yard.

22. 2026-04-13
    listed $115,000 Active 213-char remark

    Show marketing remark (213 chars)

    Looking for a home that has everything on the main floor, 2 bedrooms, 1 full bathroom, main floor laundry, eating area off the kitchen, Liivng room. 1 car attached garage, rear deck, front porch, fenced back yard.

23. 2026-04-13
    listed $115,000 Active

    Show marketing remark (213 chars)

    Looking for a home that has everything on the main floor, 2 bedrooms, 1 full bathroom, main floor laundry, eating area off the kitchen, Liivng room. 1 car attached garage, rear deck, front porch, fenced back yard.

24. 2024-10-01
    soldstatus $129,900
25. 2024-09-17
    soldstatus $129,900 Sold
26. 2024-09-17
    soldstatus $129,900 Closed
27. 2024-09-17
    soldstatus $129,900 Sold
28. 2024-08-05
    status Pending
29. 2024-08-05
    status Pending
30. 2024-08-05
    status Pending
31. 2024-08-02
    price $129,900
32. 2024-08-01
    price $129,900
33. 2024-08-01
    price $129,900
34. 2024-07-25
    listed $134,900 Active
35. 2024-07-25
    listed $134,900 Active
36. 2024-07-25
    listed $134,900 Active
37. 2024-04-26
    soldstatus $48,000 Sold
38. 2024-04-26
    soldstatus $48,000 Closed
39. 2024-04-26
    soldstatus $48,000 Sold
40. 2024-04-02
    status Pending
41. 2024-04-02
    status Pending
42. 2024-04-02
    status Pending
43. 2024-03-22
    listed $44,900 Active
44. 2024-03-22
    listed $44,900 Active
45. 2024-03-22
    listed $44,900 Active

ⓘ 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: $482 · $40/mo
• Projected year-2 tax: $1,049 · $87/mo
• Expected delta: +$567/yr (+$47/mo · 117.6%)

ⓘ 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: $12,963
• − Mortgage interest: −$5,876
• − Property taxes: −$482
• − Insurance: −$524
• − Repairs & maintenance: −$1,037
• − Management: −$1,037
• − Depreciation: −$3,052
• Taxable income: $954
• Est. tax owed @ 24.0%: −$229
• After-tax cash flow: $2,404/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 — Level Park-Oak Park

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Level Park-Oak Park, MI
• County: Calhoun County · 91,590 people
• Metro: Battle Creek, MI
• Population (ZIP): 20,550
• Household income: $42,690
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 717.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Black 23% Two or more races 11% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 2% 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: ▼ -111.62%
• Current HPI: 273.2446
• Rent YoY: ▲ 11.76%
• 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

+149.4% since first listed

28 events — show timeline

• 2026-05-12 Price Changed $112,000 MiRealSource-MiMLS
• 2026-05-12 Price Changed $112,000 REALCOMP
• 2026-05-12 Price Changed $112,000 SW Michigan MLS
• 2026-04-13 Listed $115,000 REALCOMP
• 2026-04-13 Listed $115,000 SW Michigan MLS
• 2026-04-13 Listed $115,000 MiRealSource-MiMLS
• 2024-10-01 Sold (Public Records) $129,900 Public Records
• 2024-09-17 Sold (MLS) $129,900 SW Michigan MLS
• 2024-09-17 Sold (MLS) $129,900 MiRealSource-MiMLS
• 2024-09-17 Sold (MLS) $129,900 REALCOMP
• 2024-08-05 Pending — REALCOMP
• 2024-08-05 Pending — MiRealSource-MiMLS
• 2024-08-05 Pending — SW Michigan MLS
• 2024-08-02 Price Changed $129,900 MiRealSource-MiMLS
• 2024-08-01 Price Changed $129,900 REALCOMP
• 2024-08-01 Price Changed $129,900 SW Michigan MLS
• 2024-07-25 Listed $134,900 SW Michigan MLS
• 2024-07-25 Listed $134,900 MiRealSource-MiMLS
• 2024-07-25 Listed $134,900 REALCOMP
• 2024-04-26 Sold (MLS) $48,000 SW Michigan MLS
• 2024-04-26 Sold (MLS) $48,000 MiRealSource-MiMLS
• 2024-04-26 Sold (MLS) $48,000 REALCOMP
• 2024-04-02 Pending — REALCOMP
• 2024-04-02 Pending — MiRealSource-MiMLS
• 2024-04-02 Pending — SW Michigan MLS
• 2024-03-22 Listed $44,900 SW Michigan MLS
• 2024-03-22 Listed $44,900 MiRealSource-MiMLS
• 2024-03-22 Listed $44,900 REALCOMP

Property tax history

-11.0%/yr

Latest (2025): $482 · -46.8% YoY. Source: county tax records.