696 Highland Ave · Benton Harbor, MI 49022

$65,000

2 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 742 Days on market

Built 1920 5,223 sqft lot $56/sqft · 30% below area Est $101k · 36% under ↓ 6% since listing

---

Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

Key facts

• New pex plumbing
• New lvp floors
• Sizeable backyard

Tags

• NEW LVP FLOORS
• NEW WINDOWS
• NEW PEX PLUMBING
• SIZEABLE BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($996 rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 7.4% in Benton Harbor — 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 55/100 on livability (#671 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools F, crime F, amenities F.
• Benton Harbor Area Schools (urban): math 4% / reading 7% proficiency, ranked #732 of 760 in MI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 178 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Berrien 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 + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 742 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 22y 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 $22k; list at $65k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 742 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 1.53% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.24%
• DSCR: 1.99
• GRM: 5.4

CMA / ARV

• ARV (median comp): $101,030
• List price: $65,000
• Delta: -35.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
864 Highland Ave	0.21mi	3/2.0 (+1)	1,196 (+4%)	4mo	$60,000	$50	72
810 Nathaniel Wells Dr	0.28mi	2/1.0	1,120 (-3%)	15mo	$16,000	$14	70
810 Nathaniel Wells Dr	0.31mi	2/1.0	1,120 (-3%)	15mo	$16,000	$14	68
791 La Salle St	0.37mi	3/1.0 (+1)	1,188 (+3%)	11mo	$135,000	$114	64
199 S Mccord St	0.14mi	3/1.0 (+1)	1,245 (+8%)	23mo	$97,000	$78	56
885 Mineral Ave	0.47mi	3/1.0 (+1)	1,032 (-10%)	1mo	$24,000	$23	55
680 Waukonda Ave	0.51mi	3/1.0 (+1)	1,008 (-12%)	9mo	$140,000	$139	43
1226 Chicago Ave	0.68mi	3/1.0 (+1)	1,035 (-10%)	5mo	$125,000	$121	42
815 Pitkins Ave	0.56mi	3/2.0 (+1)	1,289 (+12%)	14mo	$115,000	$89	33
338 Walnut St	0.61mi	2/1.0	980 (-15%)	20mo	$90,000	$92	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.0%
• Equity multiple: 1.60×
• Total profit: $10,965
• Equity at exit: $9,692

10-year hold

• IRR: 23.7%
• Equity multiple: 3.05×
• Total profit: $37,272
• Equity at exit: $5,620

Cash invested: $18,200 (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 49022

• Active inventory: 178
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $996 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $337

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 61%

Sensitivity live

Price	-10% $382	-5% $360	+0% $337	+5% $315	+10% $292
Rent	-10% $259	-5% $298	+0% $337	+5% $377	+10% $416
Rate	-1.0pp $370	-0.5pp $354	base $337	+0.5pp $320	+1.0pp $303

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1218 Vincent Ct Benton Harbor, MI	2.0	1.0	705	$1,100	$1.56	44d	1	0.68mi
797 Ogden Ave Benton Harbor, MI	2.0	1.0	1000	$900	$0.90	44d	1	0.89mi

Listing history 39 events

1. 2026-06-19
   days on market $65,000 Active 742 DOM
2. 2026-06-18
   days on market $65,000 Active 741 DOM
3. 2026-06-17
   days on market $65,000 Active 740 DOM
4. 2026-06-16
   days on market $65,000 Active 739 DOM
5. 2026-06-15
   days on market $65,000 Active 738 DOM
6. 2026-06-14
   days on market $65,000 Active 736 DOM
7. 2026-06-13
   days on market $65,000 Active 735 DOM
8. 2026-06-10
   days on market $65,000 Active 733 DOM
9. 2026-06-09
   days on market $65,000 Active 732 DOM
10. 2026-06-08
    days on market $65,000 Active 731 DOM
11. 2026-06-07
    days on market $65,000 Active 730 DOM
12. 2026-06-03
    days on market $65,000 Active 726 DOM
13. 2026-06-02
    days on market $65,000 Active 725 DOM
14. 2026-06-01
    days on market $65,000 Active 724 DOM
15. 2026-05-31
    days on market $65,000 Active 723 DOM
16. 2026-05-30
    days on market $65,000 Active 722 DOM
17. 2025-02-04
    status Active 358-char remark

    Show marketing remark (357 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

18. 2025-02-04
    status Active 357-char remark

    Show marketing remark (357 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

19. 2025-02-04
    status Active

    Show marketing remark (357 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

20. 2024-12-20
    historical Active Under Contract 358-char remark

    Show marketing remark (358 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

21. 2024-12-17
    status Active 358-char remark

    Show marketing remark (358 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

22. 2024-12-05
    historical Accepting Backup Offers 358-char remark

    Show marketing remark (357 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

23. 2024-12-05
    historical Accepting Backup Offers 357-char remark

    Show marketing remark (357 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

24. 2024-12-05
    historical Active - Backup Offers Accepted

    Show marketing remark (357 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

25. 2024-06-07
    listed $65,000 Active 358-char remark

    Show marketing remark (357 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

26. 2024-06-07
    listed $65,000 Active 357-char remark

    Show marketing remark (357 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

27. 2024-06-07
    listed $65,000 Active

    Show marketing remark (357 chars)

    Remodel mostly complete. This is your chance to put the finishing touches on this property and have a great personal or rental home. New LVP floors, new windows, new pex plumbing, new shower, new toilet and more. Home needs to have some tile installed, kitchen popped in and upper bathroom finished. Sizeable backyard too! Great location, close to downtown!

28. 2014-09-15
    historical
29. 2013-02-21
    soldstatus $21,500
30. 2013-02-21
    soldstatus $21,500
31. 2012-09-24
    listed $23,900
32. 2012-09-24
    listed $23,900
33. 2006-11-30
    soldstatus $8,000
34. 2006-11-30
    soldstatus $8,000
35. 2006-07-20
    listed $9,950
36. 2006-07-20
    listed $9,950
37. 2005-02-16
    historical
38. 2004-08-16
    listed $69,000
39. 2004-08-16
    listed $69,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥100°F today · 14 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: $11,947
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$956
• − Management: −$956
• − Depreciation: −$1,891
• Taxable income: $3,203
• Est. tax owed @ 24.0%: −$769
• After-tax cash flow: $3,279/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: Benton Harbor Area Schools
• NCES district ID: 2604830
• Math proficiency: 4% ▬ 0.00%
• Reading proficiency: 7% ▬ 0.00%
• Median HH income: $27,038
• Composite: 7.53/100
• National rank: #14787
• State rank: #732 of 760 in MI

Livability — Benton Harbor

• Score: 55/100
• State rank: #671
• US rank: #23724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benton Harbor, MI
• Population (ZIP): 29,796

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 50% White 37% Hispanic / Latino 7% Two or more races 6% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -309.81%
• Current HPI: 209.9723
• 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

-5.8% since first listed

23 events — show timeline

• 2025-02-04 Relisted — REALCOMP
• 2025-02-04 Relisted — MiRealSource-MiMLS
• 2025-02-04 Relisted — SW Michigan MLS
• 2024-12-20 Contingent — REALCOMP
• 2024-12-17 Relisted — REALCOMP
• 2024-12-05 Contingent — REALCOMP
• 2024-12-05 Contingent — MiRealSource-MiMLS
• 2024-12-05 Contingent — SW Michigan MLS
• 2024-06-07 Listed $65,000 SW Michigan MLS
• 2024-06-07 Listed $65,000 MiRealSource-MiMLS
• 2024-06-07 Listed $65,000 REALCOMP
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2013-02-21 Sold (MLS) $21,500 REALCOMP
• 2013-02-21 Sold (MLS) $21,500 SW Michigan MLS
• 2012-09-24 Listed $23,900 REALCOMP
• 2012-09-24 Listed $23,900 SW Michigan MLS
• 2006-11-30 Sold (MLS) $8,000 REALCOMP
• 2006-11-30 Sold (MLS) $8,000 SW Michigan MLS
• 2006-07-20 Listed $9,950 REALCOMP
• 2006-07-20 Listed $9,950 SW Michigan MLS
• 2005-02-16 Listing Removed — REALCOMP
• 2004-08-16 Listed $69,000 REALCOMP
• 2004-08-16 Listed $69,000 SW Michigan MLS

Property tax history

+13.0%/yr

Latest (2024): $6,273 · +614.9% YoY. Source: county tax records.