6291 Francis St · Comstock Northwest, MI 49048

$164,900

4 bd · 2.0 ba · 1,632 sqft · SingleFamily public records · 22 Days on market

Built 1980 10,019 sqft lot Est $207k · 20% under ↓ 6% since listing

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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 +23.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.8/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great back yard near the Kalamazoo River, spacious deck overlooking a beautiful wooded area. Attached one car garage with an extra refrigerator and freezer. Functional kitchen space with a refrigerator and a freezer. four bedrooms and two full bathrooms.

Key facts

• 0.23 acre lot
• Garage
• Built 1980

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $162k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 3.6% in Comstock Northwest — 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 73/100 on livability (#224 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities D, commute F, health & safety F.
• Comstock Public Schools (suburban): math 18% / reading 32% proficiency, ranked #428 of 540 in MI (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.9%/yr); 154 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 35% of the median local income ($60k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Kalamazoo County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $46k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,426 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.08% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.96%
• DSCR: 1.35
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $207,264
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6372 Wright St	0.11mi	3/2.0 (-1)	1,680 (+3%)	0mo	$56,000	$33	84
5788 Comstock Ave	0.51mi	4/2.0	1,856 (+14%)	12mo	$260,000	$140	44
80 Brookview St	0.40mi	3/1.0 (-1)	1,810 (+11%)	14mo	$229,000	$127	43

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 · 7.88% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.95×
• Total profit: $-2,240
• Equity at exit: $24,587

10-year hold

• IRR: 13.1%
• Equity multiple: 2.29×
• Total profit: $59,466
• Equity at exit: $14,258

Cash invested: $46,172 (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 49048

• Rents YoY: 7.9%
• Active inventory: 154
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,777 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$164 /mo · $1,969/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $240

Break-even live

Break-even rent $1,473

Max offer price $164,900

Occupancy floor 82%

Sensitivity live

Price	-10% $333	-5% $287	+0% $240	+5% $193	+10% $147
Rent	-10% $100	-5% $170	+0% $240	+5% $310	+10% $380
Rate	-1.0pp $323	-0.5pp $282	base $240	+0.5pp $197	+1.0pp $154

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
198 Rex Ave Unit 2 Kalamazoo, MI	4.0	2.0	1620	$1,775	$1.10	14d	1	1.12mi

Listing history 7 events

1. 2026-02-19
   soldstatus $155,000
2. 2026-01-06
   status Pending 254-char remark

   Show marketing remark (254 chars)

   Great back yard near the Kalamazoo River, spacious deck overlooking a beautiful wooded area. Attached one car garage with an extra refrigerator and freezer. Functional kitchen space with a refrigerator and a freezer. four bedrooms and two full bathrooms.

3. 2026-01-06
   status Pending 254-char remark

   Show marketing remark (254 chars)

   Great back yard near the Kalamazoo River, spacious deck overlooking a beautiful wooded area. Attached one car garage with an extra refrigerator and freezer. Functional kitchen space with a refrigerator and a freezer. four bedrooms and two full bathrooms.

4. 2026-01-06
   status Pending

   Show marketing remark (254 chars)

   Great back yard near the Kalamazoo River, spacious deck overlooking a beautiful wooded area. Attached one car garage with an extra refrigerator and freezer. Functional kitchen space with a refrigerator and a freezer. four bedrooms and two full bathrooms.

5. 2025-12-15
   listed $164,900 Active 254-char remark

   Show marketing remark (254 chars)

   Great back yard near the Kalamazoo River, spacious deck overlooking a beautiful wooded area. Attached one car garage with an extra refrigerator and freezer. Functional kitchen space with a refrigerator and a freezer. four bedrooms and two full bathrooms.

6. 2025-12-15
   listed $164,900 Active 254-char remark

   Show marketing remark (254 chars)

   Great back yard near the Kalamazoo River, spacious deck overlooking a beautiful wooded area. Attached one car garage with an extra refrigerator and freezer. Functional kitchen space with a refrigerator and a freezer. four bedrooms and two full bathrooms.

7. 2025-12-15
   listed $164,900 Active

   Show marketing remark (254 chars)

   Great back yard near the Kalamazoo River, spacious deck overlooking a beautiful wooded area. Attached one car garage with an extra refrigerator and freezer. Functional kitchen space with a refrigerator and a freezer. four bedrooms and two full bathrooms.

ⓘ 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: $1,969 · $164/mo
• Projected year-2 tax: $2,254 · $188/mo
• Expected delta: +$285/yr (+$24/mo · 14.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 16 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: $21,326
• − Mortgage interest: −$9,237
• − Property taxes: −$1,969
• − Insurance: −$1,622
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − Depreciation: −$4,797
• Taxable income: $289
• Est. tax owed @ 24.0%: −$69
• After-tax cash flow: $2,810/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: Comstock Public Schools
• NCES district ID: 2610590
• Math proficiency: 18% ▼ -2.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $41,293
• Composite: 21.17/100
• National rank: #8423
• State rank: #428 of 540 in MI

Livability — Comstock Northwest

• Score: 73/100
• State rank: #224
• US rank: #5631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kalamazoo County · 224,317 people
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 22,791
• Household income: $60,454
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 835.0

Population outlook (Kalamazoo County) Hauer SSP2

• Today (2025): 280,982 people
• By 2030: 292,068 · +3.9%
• By 2040: 312,191 · +11.1%
• By 2050: 331,196 · +17.9%
• By 2075: 379,021 · +34.9%
• By 2100: 396,579 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 6% Romanian 4% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Kalamazoo

• 2024 margin: D (+17.7) · D 58.0% · R 40.3% · Other 1.7%
• 2008→2024 swing: -1.8pp toward R · 2008: 19.5pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+18.7 2016: D+12.8 2012: D+13.3 2008: D+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -205.26%
• Current HPI: 180.4766
• Rent YoY: ▲ 7.88%
• Metro: Kalamazoo-Portage, 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

-6.0% since first listed

7 events — show timeline

• 2026-02-19 Sold (Public Records) $155,000 Public Records
• 2026-01-06 Pending — REALCOMP
• 2026-01-06 Pending — MiRealSource-MiMLS
• 2026-01-06 Pending — SW Michigan MLS
• 2025-12-15 Listed $164,900 SW Michigan MLS
• 2025-12-15 Listed $164,900 MiRealSource-MiMLS
• 2025-12-15 Listed $164,900 REALCOMP

Property tax history

+6.3%/yr

Latest (2025): $1,969 · +5.3% YoY. Source: county tax records.