30450 M 152 · Silver Creek, MI 49047

$27,122

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 62 Days on market

Built 1972 0.69 ac lot ↓ 47% since listing

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Why this score? — see what drove the F 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 +7.5/30.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• DSCR +1.7/10.0
• 1% rule +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

30450 M152 Dowagiac MI 49047 Online Auction ends 5/13/26 3 bedroom 2 bath ranch style home with attached 2 car garage on a . 69 acre lot. Property has notice of Municipal Conditions Raze Only from the township. Please see notice in documents. ached 2 car garage on a . 69-acre lot. Buyer to verify all data. To submit offers or view additional property details, please visit www. MyNextBid.com. All bids/offersare subject to Seller approval (minimums may apply). Please contact the listing agent for further details. Richard Stewart REO Specialists llc 269-345-7000 Submit all offers at https://mynextbid.com/property/2856/30450-Michigan-152-Dowagiac-MI-49047

Key facts

• 0.69 acre lot
• 2 garage spots
• Built 1972

🔨 Auction listing. The $27,122 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $239,940 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $27k.

Deal economics

• At list price, monthly cash flow is $-295 ($-4k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $27k).
• Recommended offer: $25k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Dowagiac Union School District (town): math 19% / reading 31% proficiency, ranked #430 of 540 in MI (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 85 active listings in the ZIP; 128 units permitted in Cass County in 2024 (0 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 $7k of value loss. Plan a longer hold.
• Cass County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 33y 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.

Recommended offer $25,494 (6.0% 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 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.59% ✗
• Cap rate: 4.82%
• Cash-on-cash: -5.27%
• DSCR: 0.77
• GRM: 14.2

CMA / ARV

• ARV (median comp): $239,940
• List price: $27,122
• Delta: -88.70%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -25.4%
• Equity multiple: 0.14×
• Total profit: $-57,790
• Equity at exit: $35,776

10-year hold

• IRR: -21.8%
• Equity multiple: -0.12×
• Total profit: $-75,046
• Equity at exit: $20,746

Cash invested: $67,183 (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 49047

• Active inventory: 85
• Price-to-rent: 1.6×

Monthly cashflow live

• Estimated rent: $1,404 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$46 /mo · $551/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $-295

Break-even live

Break-even rent $1,777

Max offer price $187,866

Occupancy floor —

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: $59,985
• Closing costs: $7,198
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $27,122 Active 62 DOM
2. 2026-06-09
   days on market $27,122 Active 61 DOM
3. 2026-06-08
   days on market $27,122 Active 60 DOM
4. 2026-06-07
   days on market $27,122 Active 59 DOM
5. 2026-06-07
   days on market $27,122 Active 58 DOM
6. 2026-06-04
   days on market $27,122 Active 55 DOM
7. 2026-06-02
   days on market $27,122 Active 54 DOM
8. 2026-06-01
   days on market $27,122 Active 53 DOM
9. 2026-05-31
   days on market $27,122 Active 52 DOM
10. 2026-05-31
    days on market $27,122 Active 51 DOM
11. 2026-05-12
    price $27,122 659-char remark

    Show marketing remark (659 chars)

    30450 M152 Dowagiac MI 49047 Online Auction ends 5/13/26 3 bedroom 2 bath ranch style home with attached 2 car garage on a . 69 acre lot. Property has notice of Municipal Conditions Raze Only from the township. Please see notice in documents. ached 2 car garage on a . 69-acre lot. Buyer to verify all data. To submit offers or view additional property details, please visit www. MyNextBid.com. All bids/offersare subject to Seller approval (minimums may apply). Please contact the listing agent for further details. Richard Stewart REO Specialists llc 269-345-7000 Submit all offers at https://mynextbid.com/property/2856/30450-Michigan-152-Dowagiac-MI-49047

12. 2026-05-12
    price $27,122 659-char remark

    Show marketing remark (659 chars)

    30450 M152 Dowagiac MI 49047 Online Auction ends 5/13/26 3 bedroom 2 bath ranch style home with attached 2 car garage on a . 69 acre lot. Property has notice of Municipal Conditions Raze Only from the township. Please see notice in documents. ached 2 car garage on a . 69-acre lot. Buyer to verify all data. To submit offers or view additional property details, please visit www. MyNextBid.com. All bids/offersare subject to Seller approval (minimums may apply). Please contact the listing agent for further details. Richard Stewart REO Specialists llc 269-345-7000 Submit all offers at https://mynextbid.com/property/2856/30450-Michigan-152-Dowagiac-MI-49047

13. 2026-05-12
    price $27,122

    Show marketing remark (659 chars)

    30450 M152 Dowagiac MI 49047 Online Auction ends 5/13/26 3 bedroom 2 bath ranch style home with attached 2 car garage on a . 69 acre lot. Property has notice of Municipal Conditions Raze Only from the township. Please see notice in documents. ached 2 car garage on a . 69-acre lot. Buyer to verify all data. To submit offers or view additional property details, please visit www. MyNextBid.com. All bids/offersare subject to Seller approval (minimums may apply). Please contact the listing agent for further details. Richard Stewart REO Specialists llc 269-345-7000 Submit all offers at https://mynextbid.com/property/2856/30450-Michigan-152-Dowagiac-MI-49047

14. 2026-04-10
    listed $28,549 Active 659-char remark

    Show marketing remark (659 chars)

    30450 M152 Dowagiac MI 49047 Online Auction ends 5/13/26 3 bedroom 2 bath ranch style home with attached 2 car garage on a . 69 acre lot. Property has notice of Municipal Conditions Raze Only from the township. Please see notice in documents. ached 2 car garage on a . 69-acre lot. Buyer to verify all data. To submit offers or view additional property details, please visit www. MyNextBid.com. All bids/offersare subject to Seller approval (minimums may apply). Please contact the listing agent for further details. Richard Stewart REO Specialists llc 269-345-7000 Submit all offers at https://mynextbid.com/property/2856/30450-Michigan-152-Dowagiac-MI-49047

15. 2026-04-10
    listed $28,549 Active

    Show marketing remark (659 chars)

    30450 M152 Dowagiac MI 49047 Online Auction ends 5/13/26 3 bedroom 2 bath ranch style home with attached 2 car garage on a . 69 acre lot. Property has notice of Municipal Conditions Raze Only from the township. Please see notice in documents. ached 2 car garage on a . 69-acre lot. Buyer to verify all data. To submit offers or view additional property details, please visit www. MyNextBid.com. All bids/offersare subject to Seller approval (minimums may apply). Please contact the listing agent for further details. Richard Stewart REO Specialists llc 269-345-7000 Submit all offers at https://mynextbid.com/property/2856/30450-Michigan-152-Dowagiac-MI-49047

16. 2026-04-10
    listed $28,549 Active 659-char remark

    Show marketing remark (659 chars)

    30450 M152 Dowagiac MI 49047 Online Auction ends 5/13/26 3 bedroom 2 bath ranch style home with attached 2 car garage on a . 69 acre lot. Property has notice of Municipal Conditions Raze Only from the township. Please see notice in documents. ached 2 car garage on a . 69-acre lot. Buyer to verify all data. To submit offers or view additional property details, please visit www. MyNextBid.com. All bids/offersare subject to Seller approval (minimums may apply). Please contact the listing agent for further details. Richard Stewart REO Specialists llc 269-345-7000 Submit all offers at https://mynextbid.com/property/2856/30450-Michigan-152-Dowagiac-MI-49047

17. 1993-10-15
    soldstatus $55,500
18. 1993-10-15
    soldstatus $55,500
19. 1993-01-23
    listed $51,500
20. 1993-01-23
    listed $51,500

ⓘ 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: $551 · $46/mo
• Projected year-2 tax: $551 · $46/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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,851
• − Mortgage interest: −$13,440
• − Property taxes: −$551
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$6,980
• Taxable loss: −$8,016
• Est. tax savings @ 24.0%: +$1,924
• After-tax cash flow: $-1,613/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: Dowagiac Union School District
• NCES district ID: 2612150
• Math proficiency: 19% ▼ -2.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $39,741
• Composite: 21.03/100
• National rank: #8452
• State rank: #430 of 540 in MI

Livability — Silver Creek

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

Census & demographics

• Population (ZIP): 14,506

Population outlook (Cass County) Hauer SSP2

• Today (2025): 49,919 people
• By 2030: 48,320 · -3.2%
• By 2040: 44,230 · -11.4%
• By 2050: 39,852 · -20.2%
• By 2075: 31,440 · -37.0%
• By 2100: 23,914 · -52.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 6% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 5% Iranian 2% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 4% German/W. Germanic 1%

Political lean MEDSL · Cass

• 2024 margin: Solid R (+33.9) · D 32.5% · R 66.4% · Other 1.1%
• 2008→2024 swing: -38.0pp toward R · 2008: 4.1pp · 2024: -33.9pp
• All cycles: 2024: R+33.9 2020: R+28.9 2016: R+29.9 2012: R+13.7 2008: D+4.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -188.04%
• Current HPI: 186.2757
• 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

-47.3% since first listed

10 events — show timeline

• 2026-05-12 Price Changed $27,122 MiRealSource-MiMLS
• 2026-05-12 Price Changed $27,122 REALCOMP
• 2026-05-12 Price Changed $27,122 SW Michigan MLS
• 2026-04-10 Listed $28,549 SW Michigan MLS
• 2026-04-10 Listed $28,549 MiRealSource-MiMLS
• 2026-04-10 Listed $28,549 REALCOMP
• 1993-10-15 Sold (MLS) $55,500 REALCOMP
• 1993-10-15 Sold (MLS) $55,500 SW Michigan MLS
• 1993-01-23 Listed $51,500 REALCOMP
• 1993-01-23 Listed $51,500 SW Michigan MLS

Property tax history

-4.3%/yr

Latest (2025): $551 · -57.1% YoY. Source: county tax records.