521 W Court St · Hastings, MI 49058

$185,000

4 bd · 2.0 ba · 1,391 sqft · SingleFamily public records · 21 Days on market

Built 1916 8,712 sqft lot $133/sqft · 14% above area Est $224k · 17% under

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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
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• Livability +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fresh on the market, this family home features an inground pool and is within walking distance of shopping. The main floor includes a living room, kitchen, dining room, bedroom, full bathroom accessible to the pool, and laundry room--all potentially handicapped accessible. Upstairs offers three more bedrooms and another full bath. Seller has said that there are wood floors throughout the home. All appliances are included. The detached garage provides both 220 and 110 power options.

Key facts

• Inground pool
• Detached garage
• 8,712 sq ft lot

Tags

• INGROUND POOL
• WALKING DISTANCE OF SHOPPING
• DETACHED GARAGE
• 220 AND 110 POWER OPTIONS

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Natural gas available and connected; Electricity available; Natural gas water heater
• Home design: Traditional single-family residence; Built in 1916
• Construction: Aluminum and vinyl siding; Composition/shingle roof; Built in 1916
• Exterior features: Sidewalk; Paved road access; Outdoor above-ground pool

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Eat-in kitchen layout
• Bedrooms: Three additional bedrooms (one labeled Bedroom 2, Bedroom 3, Bedroom 4)
• Bathrooms: Two full bathrooms
• Heating & cooling: Radiant heating; Wall-mounted cooling units
• Interior features: Garage door opener; Eat-in kitchen; Accessible entrance; Crawl space and Michigan-style basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $693 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% vs local median 4.0% in Hastings — 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 79/100 on livability (#95 in MI, #2,201 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools C-, employment D, commute F.
• Hastings Area School District (town): math 33% / reading 48% proficiency, ranked #203 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 136 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 171 units permitted in Barry County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Barry County population projected at -11% 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 $52k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,225 (1.5% below list)

Questions for the listing agent

1. Built in 1916 — 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: 1.35% ✓
• Cap rate: 10.79%
• Cash-on-cash: 16.04%
• DSCR: 1.71
• GRM: 6.2

CMA / ARV

• ARV (median comp): $223,814
• List price: $185,000
• Delta: -17.34%
• 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
403 W Mill St	0.22mi	3/1.5 (-1)	1,408 (+1%)	3mo	$224,900	$160	78
112 E Green St	0.41mi	3/2.0 (-1)	1,348 (-3%)	5mo	$205,000	$152	67
428 W Walnut St	0.23mi	4/2.5	1,561 (+12%)	2mo	$184,900	$118	66
720 W Bond St	0.37mi	3/1.0 (-1)	1,464 (+5%)	4mo	$289,900	$198	61
128 E Grand St	0.49mi	3/2.0 (-1)	1,316 (-5%)	3mo	$230,000	$175	61
348 W State Rd	0.45mi	3/1.5 (-1)	1,540 (+11%)	1mo	$256,500	$167	53
430 S Benton St	0.32mi	3/1.0 (-1)	1,207 (-13%)	3mo	$230,000	$191	52
312 E Clinton St	0.70mi	4/1.5	1,472 (+6%)	5mo	$275,000	$187	51
402 W Clinton St	0.48mi	3/2.0 (-1)	1,234 (-11%)	5mo	$257,500	$209	50
303 E Colfax St	0.73mi	5/1.0 (+1)	1,496 (+8%)	2mo	$260,000	$174	42
413 E Madison St	0.71mi	3/1.0 (-1)	1,232 (-11%)	1mo	$215,000	$175	38
532 N Michigan Ave	0.55mi	3/1.0 (-1)	1,597 (+15%)	3mo	$193,500	$121	38

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: 7.0%
• Equity multiple: 1.27×
• Total profit: $14,169
• Equity at exit: $27,584

10-year hold

• IRR: 16.3%
• Equity multiple: 2.34×
• Total profit: $69,289
• Equity at exit: $15,995

Cash invested: $51,800 (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 49058

• Active inventory: 136
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,495 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $693

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 67%

Sensitivity live

Price	-10% $820	-5% $756	+0% $693	+5% $629	+10% $565
Rent	-10% $495	-5% $594	+0% $693	+5% $791	+10% $890
Rate	-1.0pp $786	-0.5pp $740	base $693	+0.5pp $645	+1.0pp $596

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
634 E North St Hastings, MI	3.0	2.5	1840	$2,495	$1.36	4d	1	1.36mi

Listing history 10 events

1. 2026-05-12
   price $185,000 486-char remark

   Show marketing remark (486 chars)

   Fresh on the market, this family home features an inground pool and is within walking distance of shopping. The main floor includes a living room, kitchen, dining room, bedroom, full bathroom accessible to the pool, and laundry room--all potentially handicapped accessible. Upstairs offers three more bedrooms and another full bath. Seller has said that there are wood floors throughout the home. All appliances are included. The detached garage provides both 220 and 110 power options.

2. 2026-05-11
   price $185,000 486-char remark

   Show marketing remark (486 chars)

   Fresh on the market, this family home features an inground pool and is within walking distance of shopping. The main floor includes a living room, kitchen, dining room, bedroom, full bathroom accessible to the pool, and laundry room--all potentially handicapped accessible. Upstairs offers three more bedrooms and another full bath. Seller has said that there are wood floors throughout the home. All appliances are included. The detached garage provides both 220 and 110 power options.

3. 2026-05-11
   price $185,000

   Show marketing remark (486 chars)

   Fresh on the market, this family home features an inground pool and is within walking distance of shopping. The main floor includes a living room, kitchen, dining room, bedroom, full bathroom accessible to the pool, and laundry room--all potentially handicapped accessible. Upstairs offers three more bedrooms and another full bath. Seller has said that there are wood floors throughout the home. All appliances are included. The detached garage provides both 220 and 110 power options.

4. 2026-05-02
   listed $199,900 Active 486-char remark

   Show marketing remark (486 chars)

   Fresh on the market, this family home features an inground pool and is within walking distance of shopping. The main floor includes a living room, kitchen, dining room, bedroom, full bathroom accessible to the pool, and laundry room--all potentially handicapped accessible. Upstairs offers three more bedrooms and another full bath. Seller has said that there are wood floors throughout the home. All appliances are included. The detached garage provides both 220 and 110 power options.

5. 2026-05-02
   listed $199,900 Active 486-char remark

   Show marketing remark (486 chars)

   Fresh on the market, this family home features an inground pool and is within walking distance of shopping. The main floor includes a living room, kitchen, dining room, bedroom, full bathroom accessible to the pool, and laundry room--all potentially handicapped accessible. Upstairs offers three more bedrooms and another full bath. Seller has said that there are wood floors throughout the home. All appliances are included. The detached garage provides both 220 and 110 power options.

6. 2026-05-02
   listed $199,900 Active

   Show marketing remark (486 chars)

   Fresh on the market, this family home features an inground pool and is within walking distance of shopping. The main floor includes a living room, kitchen, dining room, bedroom, full bathroom accessible to the pool, and laundry room--all potentially handicapped accessible. Upstairs offers three more bedrooms and another full bath. Seller has said that there are wood floors throughout the home. All appliances are included. The detached garage provides both 220 and 110 power options.

7. 2015-04-27
   historical
8. 2010-04-29
   historical
9. 2009-10-29
   listed $115,000
10. 2009-10-29
    listed $115,000

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 17 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: $29,940
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$2,395
• − Management: −$2,395
• − Depreciation: −$5,382
• Taxable income: $5,705
• Est. tax owed @ 24.0%: −$1,369
• After-tax cash flow: $6,942/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: Hastings Area School District
• NCES district ID: 2617970
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 48% ▼ -2.00%
• Median HH income: $48,478
• Composite: 34.71/100
• National rank: #5137
• State rank: #203 of 540 in MI

Livability — Hastings

• Score: 79/100
• State rank: #95
• US rank: #2201

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hastings, MI
• City population: 19,513
• Population (ZIP): 19,513

Population outlook (Barry County) Hauer SSP2

• Today (2025): 59,601 people
• By 2030: 59,185 · -0.7%
• By 2040: 57,121 · -4.2%
• By 2050: 53,139 · -10.8%
• By 2075: 42,814 · -28.2%
• By 2100: 29,357 · -50.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Iranian 8% Romanian 3% Lithuanian 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Barry

• 2024 margin: Solid R (+34.3) · D 32.1% · R 66.4% · Other 1.5%
• 2008→2024 swing: -24.6pp toward R · 2008: -9.8pp · 2024: -34.3pp
• All cycles: 2024: R+34.3 2020: R+32.5 2016: R+33.3 2012: R+18.1 2008: R+9.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.56%
• Current HPI: 224.6353
• 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

+60.9% since first listed

13 events — show timeline

• 2026-05-23 Pending — REALCOMP
• 2026-05-23 Pending — MiRealSource-MiMLS
• 2026-05-23 Pending — SW Michigan MLS
• 2026-05-12 Price Changed $185,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $185,000 REALCOMP
• 2026-05-11 Price Changed $185,000 SW Michigan MLS
• 2026-05-02 Listed $199,900 SW Michigan MLS
• 2026-05-02 Listed $199,900 MiRealSource-MiMLS
• 2026-05-02 Listed $199,900 REALCOMP
• 2015-04-27 Listing Removed — SW Michigan MLS
• 2010-04-29 Listing Removed — REALCOMP
• 2009-10-29 Listed $115,000 REALCOMP
• 2009-10-29 Listed $115,000 SW Michigan MLS