62 Woodward Ave

Battle Creek, MI 49017

$169,000F

4 bd · 2.0 ba · 1,362 sqft · Built 1996 · SingleFamily · Pending · 3 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,416/mo
• Mortgage (P&I): −$886
• Tax + insurance: −$188
• HOA: −$0
• Vac / Maint / Mgmt: −$297
• Net cashflow: $44/mo
• Annual: $527/yr
• Cap rate: 6.60%
• Cash-on-cash: 1.11%
• DSCR: 1.05
• 1% rule: 0.84%
• Cash to close: $47,320

Investor read

• This is a 4-bed/2.0-bath single-family listed at $169k.
• At list price, monthly cash flow is $44 ($527/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (16.2% below list).
• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $142k (16.2% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• 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: schools C-, amenities C-, crime F.
• 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: 148 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• Calhoun County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 32y 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 $72k; list at $169k implies a 135% gain — meaningful room to come down on a strong offer.
• Cap rate 6.6% vs local median 5.2% in Battle Creek — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.