329 Bond St · Allegan, MI 49010

$140,000

1 bd · 1.0 ba · 560 sqft · SingleFamily public records · 7 Days on market

Built 1940 0.26 ac lot

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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 +20.2/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.4/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HIGHEST AND BEST DEADLINE Monday, February 23 at 7pm. Experience maintenance-free living in this charming, recently updated 1-bedroom bungalow. Perfect for those seeking modern amenities with a touch of nature, this home features high-quality vinyl plank flooring throughout and a spacious eat-in kitchen designed for both function and style. Every major system has been addressed for your peace of mind, including newer windows, siding, furnace, and air conditioning. The thoughtful layout includes main-level laundry, adding to the home's effortless flow. That 3-season room is a huge selling point--it's the perfect bridge between the updated interior and the nature outside. The true showstopper is the backyard: with no rear neighbors, you enjoy unobstructed views of wooded Michigan DNR land. Whether you're relaxing at home or exploring the vibrant downtown, restaurants, and library- all just a short walk away--this property offers the best of both worlds.

Key facts

• Newer furnace
• Newer siding
• Newer windows

Tags

• SPACIOUS EAT-IN KITCHEN
• NEWER WINDOWS
• NEWER SIDING
• NEWER FURNACE
• NEWER AIR CONDITIONING
• MAIN-LEVEL LAUNDRY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Cap rate 7.8% vs local median 4.6% in Allegan — 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 70/100 on livability (#318 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, employment D+, amenities F.
• Allegan Public Schools (town): math 26% / reading 37% proficiency, ranked #338 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 183 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 419 units permitted in Allegan County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1940 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 7.82%
• Cash-on-cash: 5.45%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.8%
• Equity multiple: 0.71×
• Total profit: $-11,328
• Equity at exit: $20,874

10-year hold

• IRR: 1.7%
• Equity multiple: 1.12×
• Total profit: $4,822
• Equity at exit: $12,105

Cash invested: $39,200 (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 49010

• Home prices YoY: -34.3%
• Active inventory: 183
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $178

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 83%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
128 Locust St Unit C Allegan, MI	2.0	2.0	662	$1,450	$2.19	43d	1	0.52mi

Listing history 8 events

1. 2026-04-17
   status Pending 966-char remark

   Show marketing remark (966 chars)

   HIGHEST AND BEST DEADLINE Monday, February 23 at 7pm. Experience maintenance-free living in this charming, recently updated 1-bedroom bungalow. Perfect for those seeking modern amenities with a touch of nature, this home features high-quality vinyl plank flooring throughout and a spacious eat-in kitchen designed for both function and style. Every major system has been addressed for your peace of mind, including newer windows, siding, furnace, and air conditioning. The thoughtful layout includes main-level laundry, adding to the home's effortless flow. That 3-season room is a huge selling point--it's the perfect bridge between the updated interior and the nature outside. The true showstopper is the backyard: with no rear neighbors, you enjoy unobstructed views of wooded Michigan DNR land. Whether you're relaxing at home or exploring the vibrant downtown, restaurants, and library- all just a short walk away--this property offers the best of both worlds.

2. 2026-02-24
   status Pending 966-char remark

   Show marketing remark (966 chars)

   HIGHEST AND BEST DEADLINE Monday, February 23 at 7pm. Experience maintenance-free living in this charming, recently updated 1-bedroom bungalow. Perfect for those seeking modern amenities with a touch of nature, this home features high-quality vinyl plank flooring throughout and a spacious eat-in kitchen designed for both function and style. Every major system has been addressed for your peace of mind, including newer windows, siding, furnace, and air conditioning. The thoughtful layout includes main-level laundry, adding to the home's effortless flow. That 3-season room is a huge selling point--it's the perfect bridge between the updated interior and the nature outside. The true showstopper is the backyard: with no rear neighbors, you enjoy unobstructed views of wooded Michigan DNR land. Whether you're relaxing at home or exploring the vibrant downtown, restaurants, and library- all just a short walk away--this property offers the best of both worlds.

3. 2026-02-24
   status Pending 965-char remark

   Show marketing remark (966 chars)

   HIGHEST AND BEST DEADLINE Monday, February 23 at 7pm. Experience maintenance-free living in this charming, recently updated 1-bedroom bungalow. Perfect for those seeking modern amenities with a touch of nature, this home features high-quality vinyl plank flooring throughout and a spacious eat-in kitchen designed for both function and style. Every major system has been addressed for your peace of mind, including newer windows, siding, furnace, and air conditioning. The thoughtful layout includes main-level laundry, adding to the home's effortless flow. That 3-season room is a huge selling point--it's the perfect bridge between the updated interior and the nature outside. The true showstopper is the backyard: with no rear neighbors, you enjoy unobstructed views of wooded Michigan DNR land. Whether you're relaxing at home or exploring the vibrant downtown, restaurants, and library- all just a short walk away--this property offers the best of both worlds.

4. 2026-02-24
   status Pending

   Show marketing remark (966 chars)

   HIGHEST AND BEST DEADLINE Monday, February 23 at 7pm. Experience maintenance-free living in this charming, recently updated 1-bedroom bungalow. Perfect for those seeking modern amenities with a touch of nature, this home features high-quality vinyl plank flooring throughout and a spacious eat-in kitchen designed for both function and style. Every major system has been addressed for your peace of mind, including newer windows, siding, furnace, and air conditioning. The thoughtful layout includes main-level laundry, adding to the home's effortless flow. That 3-season room is a huge selling point--it's the perfect bridge between the updated interior and the nature outside. The true showstopper is the backyard: with no rear neighbors, you enjoy unobstructed views of wooded Michigan DNR land. Whether you're relaxing at home or exploring the vibrant downtown, restaurants, and library- all just a short walk away--this property offers the best of both worlds.

5. 2026-02-24
   historical 966-char remark

   Show marketing remark (966 chars)

   HIGHEST AND BEST DEADLINE Monday, February 23 at 7pm. Experience maintenance-free living in this charming, recently updated 1-bedroom bungalow. Perfect for those seeking modern amenities with a touch of nature, this home features high-quality vinyl plank flooring throughout and a spacious eat-in kitchen designed for both function and style. Every major system has been addressed for your peace of mind, including newer windows, siding, furnace, and air conditioning. The thoughtful layout includes main-level laundry, adding to the home's effortless flow. That 3-season room is a huge selling point--it's the perfect bridge between the updated interior and the nature outside. The true showstopper is the backyard: with no rear neighbors, you enjoy unobstructed views of wooded Michigan DNR land. Whether you're relaxing at home or exploring the vibrant downtown, restaurants, and library- all just a short walk away--this property offers the best of both worlds.

6. 2026-02-18
   listed $140,000 Active 966-char remark

   Show marketing remark (966 chars)

   HIGHEST AND BEST DEADLINE Monday, February 23 at 7pm. Experience maintenance-free living in this charming, recently updated 1-bedroom bungalow. Perfect for those seeking modern amenities with a touch of nature, this home features high-quality vinyl plank flooring throughout and a spacious eat-in kitchen designed for both function and style. Every major system has been addressed for your peace of mind, including newer windows, siding, furnace, and air conditioning. The thoughtful layout includes main-level laundry, adding to the home's effortless flow. That 3-season room is a huge selling point--it's the perfect bridge between the updated interior and the nature outside. The true showstopper is the backyard: with no rear neighbors, you enjoy unobstructed views of wooded Michigan DNR land. Whether you're relaxing at home or exploring the vibrant downtown, restaurants, and library- all just a short walk away--this property offers the best of both worlds.

7. 2026-02-17
   listed $140,000 Active 965-char remark

   Show marketing remark (965 chars)

   HIGHEST AND BEST DEADLINE Monday, February 23 at 7pm. Experience maintenance-free living in this charming, recently updated 1-bedroom bungalow. Perfect for those seeking modern amenities with a touch of nature, this home features high-quality vinyl plank flooring throughout and a spacious eat-in kitchen designed for both function and style. Every major system has been addressed for your peace of mind, including newer windows, siding, furnace, and air conditioning. The thoughtful layout includes main-level laundry, adding to the home's effortless flow. That 3-season room is a huge selling point--it's the perfect bridge between the updated interior and the nature outside. The true showstopper is the backyard: with no rear neighbors, you enjoy unobstructed views of wooded Michigan DNR land. Whether you're relaxing at home or exploring the vibrant downtown, restaurants, and library- all just a short walk away--this property offers the best of both worlds.

8. 2026-02-17
   listed $140,000 Active

   Show marketing remark (965 chars)

   HIGHEST AND BEST DEADLINE Monday, February 23 at 7pm. Experience maintenance-free living in this charming, recently updated 1-bedroom bungalow. Perfect for those seeking modern amenities with a touch of nature, this home features high-quality vinyl plank flooring throughout and a spacious eat-in kitchen designed for both function and style. Every major system has been addressed for your peace of mind, including newer windows, siding, furnace, and air conditioning. The thoughtful layout includes main-level laundry, adding to the home's effortless flow. That 3-season room is a huge selling point--it's the perfect bridge between the updated interior and the nature outside. The true showstopper is the backyard: with no rear neighbors, you enjoy unobstructed views of wooded Michigan DNR land. Whether you're relaxing at home or exploring the vibrant downtown, restaurants, and library- all just a short walk away--this property offers the best of both worlds.

ⓘ 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 2/10 Low 7 d/yr ≥97°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: $17,400
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$4,073
• Taxable loss: −$99
• Est. tax savings @ 24.0%: +$24
• After-tax cash flow: $2,160/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: Allegan Public Schools
• NCES district ID: 2602220
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $48,602
• Composite: 27.27/100
• National rank: #7008
• State rank: #338 of 540 in MI

Livability — Allegan

• Score: 70/100
• State rank: #318
• US rank: #7767

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Allegan, MI
• Population (ZIP): 18,394

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 5% Black 1%
• Common ancestry: Iranian 10% Romanian 4% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.08%
• Current HPI: 260.4976
• 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

+0.0% since first listed

8 events — show timeline

• 2026-04-17 Pending — REALCOMP
• 2026-02-24 Pending — REALCOMP
• 2026-02-24 Pending — MiRealSource-MiMLS
• 2026-02-24 Pending — SW Michigan MLS
• 2026-02-24 Listing Removed — REALCOMP
• 2026-02-18 Listed $140,000 REALCOMP
• 2026-02-17 Listed $140,000 SW Michigan MLS
• 2026-02-17 Listed $140,000 MiRealSource-MiMLS