1075 33rd St · Allegan, MI 49010

$145,000

2 bd · 1.0 ba · 1,058 sqft · SingleFamily public records · 9 Days on market

Built 1955 2.78 ac lot Est $163k · 11% under

---

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 +23.4/30.0
• ARV discount +12.5/15.0
• DSCR +7.5/10.0
• 1% rule +6.1/10.0
• 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

Opportunity knocks! Peaceful country living awaits you on nearly three acres of beautiful land! This two-bedroom, one-bathroom home has lots of potential - features a cozy living room with a dedicated spot for a wood stove. Outside, you will find a detached two-car garage for all your storage needs and a peaceful, scenic stream running right through the backyard. The unfinished basement offers great potential for you to bring your own creative vision and add extra living space. Being sold as-is, seller is unable to pay for any inspections (including well and septic), repairs or updates. Submission of highest and best offers by Sunday, June 7, at 10:00 PM, with seller response to be expected on June 8.

Key facts

• Scenic stream
• Extra living space
• Unfinished basement

Tags

• DEDICATED SPOT FOR WOOD STOVE
• DETACHED TWO CAR GARAGE
• SCENIC STREAM
• UNFINISHED BASEMENT
• EXTRA LIVING SPACE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Well water; Electricity available
• Home design: Ranch-style single family residence; Built in 1955
• Construction: Aluminum siding; Composition roof; Foundation with full basement
• Exterior features: Wooded lot; Unimproved road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Primary bedroom; Second bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 8.5% vs local median 4.7% 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: 185 active listings in the ZIP; 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 25y 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 $79k; list at $145k implies a 84% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,000

Questions for the listing agent

1. Built in 1955 — 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: 1.11% ✓
• Cap rate: 8.51%
• Cash-on-cash: 7.90%
• DSCR: 1.35
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $162,932
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1075 33rd St	0.00mi	2/1.0	1,058 (0%)	0mo	$163,000	$154	100

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: -4.2%
• Equity multiple: 0.84×
• Total profit: $-6,442
• Equity at exit: $21,620

10-year hold

• IRR: 5.5%
• Equity multiple: 1.40×
• Total profit: $16,418
• Equity at exit: $12,537

Cash invested: $40,600 (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: 185
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,607 medium
• Mortgage (P&I): −$760
• Tax est. 1.5%: −$181 /mo · $2,175/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $267

Break-even live

Break-even rent $1,268

Max offer price $145,000

Occupancy floor 78%

Sensitivity live

Price	-10% $368	-5% $317	+0% $267	+5% $217	+10% $167
Rent	-10% $140	-5% $204	+0% $267	+5% $331	+10% $394
Rate	-1.0pp $340	-0.5pp $304	base $267	+0.5pp $230	+1.0pp $192

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-09
   status $145,000 Pending 9 DOM
2. 2026-06-08
   days on market $145,000 Active 9 DOM
3. 2026-06-07
   days on market $145,000 Active 8 DOM
4. 2026-06-07
   days on market $145,000 Active 7 DOM
5. 2026-06-04
   days on market $145,000 Active 4 DOM
6. 2026-06-02
   days on market $145,000 Active 3 DOM
7. 2026-06-01
   days on market $145,000 Active 2 DOM
8. 2026-05-31
   remarks 699-char remark
9. 2026-05-31
   listed $145,000 Active 1 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 15 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: $19,283
• − Mortgage interest: −$8,122
• − Property taxes: −$2,175
• − Insurance: −$725
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$4,218
• Taxable income: $957
• Est. tax owed @ 24.0%: −$230
• After-tax cash flow: $2,979/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

• 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

+93.3% since first listed

13 events — show timeline

• 2026-05-29 Listed $145,000 REALCOMP
• 2026-05-29 Listed $145,000 SW Michigan MLS
• 2026-05-29 Listed $145,000 MiRealSource-MiMLS
• 2019-09-18 Sold (Public Records) $79,000 Public Records
• 2006-08-24 Sold (Public Records) $94,000 Public Records
• 2006-08-23 Sold (MLS) $94,000 REALCOMP
• 2006-08-23 Sold (MLS) $94,000 SW Michigan MLS
• 2006-05-26 Listed $99,000 REALCOMP
• 2006-05-26 Listed $99,000 SW Michigan MLS
• 2001-11-27 Sold (MLS) $71,000 REALCOMP
• 2001-11-27 Sold (MLS) $71,000 SW Michigan MLS
• 2001-09-18 Listed $75,000 REALCOMP
• 2001-09-18 Listed $75,000 SW Michigan MLS