2120 E Main St · Eastwood, MI 49048

$145,000

3 bd · 2.0 ba · 1,456 sqft · SingleFamily public records · 69 Days on market

Built 1920 6,970 sqft lot Est $197k · 26% under

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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).

• ARV discount +15.0/15.0
• Cash flow +11.5/30.0
• 1% rule +4.8/10.0
• Schools +4.7/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious 3 bed, 2 bath home in the heart of Eastwood! This home has several upgrades, featuring a newer roof, A/C, and furnace. Brimming with original character, this home has original hardwoods and a large covered front porch. This property is conveniently located minutes from downtown and the Gull Road corridor for shopping, dining and more!Schedule a private showing today!

Key facts

• Original hardwoods
• Newer roof
• A/c

Tags

• NEWER ROOF
• A/C
• FURNACE
• ORIGINAL HARDWOODS
• LARGE COVERED FRONT PORCH
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional single-family residence; Built in 1920
• Construction: Vinyl siding; Shingle roof; Built in 1920
• Exterior features: Public water

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: 9 total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-48 ($-579/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (2.4% below list).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#187 in MI, #4,713 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, employment D+.
• Kalamazoo Public Schools (urban): math 43% / reading 72% proficiency, ranked #71 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.9%/yr); 154 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 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.
• Kalamazoo County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 23 sale attempts since 36y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.98% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.43%
• DSCR: 0.94
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $196,560
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
927 Albert Ave	0.17mi	3/1.5	1,404 (-4%)	3mo	$182,000	$130	82
611 Fenimore Ave	0.23mi	3/1.5	1,540 (+6%)	4mo	$223,000	$145	74
705 Dayton Ave	0.45mi	2/2.0 (-1)	1,496 (+3%)	2mo	$154,900	$104	67
3011 E Main St	0.59mi	3/1.5	1,479 (+2%)	2mo	$202,400	$137	66
2535 Gull Rd	0.70mi	3/1.5	1,460 (+0%)	4mo	$105,000	$72	61
1503 Texel Dr	0.54mi	3/1.5	1,360 (-7%)	2mo	$199,000	$146	60
619 Fairbanks Ave	0.49mi	3/1.0	1,329 (-9%)	1mo	$180,000	$135	58
557 Ira Ave	0.35mi	4/2.5 (+1)	1,296 (-11%)	2mo	$192,500	$149	56
546 Washburn Ave	0.35mi	4/1.0 (+1)	1,640 (+13%)	1mo	$196,500	$120	53
1607 E Michigan Ave	0.65mi	3/1.5	1,336 (-8%)	1mo	$170,000	$127	53
1022 Dayton Ave	0.44mi	3/1.0	1,274 (-12%)	4mo	$194,000	$152	52
407 Phelps Ave	0.56mi	4/2.0 (+1)	1,650 (+13%)	2mo	$189,900	$115	45

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: -12.4%
• Equity multiple: 0.53×
• Total profit: $-19,158
• Equity at exit: $21,620

10-year hold

• IRR: 3.5%
• Equity multiple: 1.32×
• Total profit: $12,954
• 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 49048

• Rents YoY: 7.9%
• Active inventory: 154
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,415 high
• Mortgage (P&I): −$760
• Tax from tax record: −$345 /mo · $4,145/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $-48

Break-even live

Break-even rent $1,476

Max offer price $136,472

Occupancy floor 98%

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: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1403 Sherwood Ave Unit 2 Kalamazoo, MI	2.0	1.0	900	$1,000	$1.11	21d	1	0.54mi
1928 Colgrove Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	912	$1,390	$1.52	13d	13	0.66mi
1926 Sunnyside Dr Kalamazoo, MI	2.0	1.5	1020	$1,200	$1.18	21d	1	0.82mi
525 E Ransom St Kalamazoo, MI	1.0–2.0	1.0–2.0	807	$1,625	$2.01	21d	1	1.23mi
2420 Upper Riverview Dr Kalamazoo, MI	3.0	1.0	925	$1,300	$1.41	21d	1	1.33mi
815 N Pitcher St Unit 12 Kalamazoo, MI	2.0	2.0	982	$1,550	$1.58	21d	1	1.37mi

Listing history 50 events

1. 2026-03-31
   status Active 394-char remark

   Show marketing remark (394 chars)

   Welcome to this spacious 3 bed, 2 bath home in the heart of Eastwood! This home has several upgrades, featuring a newer roof, A/C, and furnace. Brimming with original character, this home has original hardwoods and a large covered front porch. This property is conveniently located minutes from downtown and the Gull Road corridor for shopping, dining and more!Schedule a private showing today!

2. 2026-03-27
   historical 394-char remark

   Show marketing remark (394 chars)

   Welcome to this spacious 3 bed, 2 bath home in the heart of Eastwood! This home has several upgrades, featuring a newer roof, A/C, and furnace. Brimming with original character, this home has original hardwoods and a large covered front porch. This property is conveniently located minutes from downtown and the Gull Road corridor for shopping, dining and more!Schedule a private showing today!

3. 2026-03-26
   status Active 394-char remark

   Show marketing remark (394 chars)

   Welcome to this spacious 3 bed, 2 bath home in the heart of Eastwood! This home has several upgrades, featuring a newer roof, A/C, and furnace. Brimming with original character, this home has original hardwoods and a large covered front porch. This property is conveniently located minutes from downtown and the Gull Road corridor for shopping, dining and more!Schedule a private showing today!

4. 2026-03-25
   status Active 394-char remark

   Show marketing remark (394 chars)

   Welcome to this spacious 3 bed, 2 bath home in the heart of Eastwood! This home has several upgrades, featuring a newer roof, A/C, and furnace. Brimming with original character, this home has original hardwoods and a large covered front porch. This property is conveniently located minutes from downtown and the Gull Road corridor for shopping, dining and more!Schedule a private showing today!

5. 2026-03-25
   status Active

   Show marketing remark (394 chars)

   Welcome to this spacious 3 bed, 2 bath home in the heart of Eastwood! This home has several upgrades, featuring a newer roof, A/C, and furnace. Brimming with original character, this home has original hardwoods and a large covered front porch. This property is conveniently located minutes from downtown and the Gull Road corridor for shopping, dining and more!Schedule a private showing today!

6. 2026-03-11
   historical
7. 2026-03-10
   historical 394-char remark

   Show marketing remark (394 chars)

   Welcome to this spacious 3 bed, 2 bath home in the heart of Eastwood! This home has several upgrades, featuring a newer roof, A/C, and furnace. Brimming with original character, this home has original hardwoods and a large covered front porch. This property is conveniently located minutes from downtown and the Gull Road corridor for shopping, dining and more!Schedule a private showing today!

8. 2026-03-05
   listed $145,000 Active 394-char remark

   Show marketing remark (394 chars)

   Welcome to this spacious 3 bed, 2 bath home in the heart of Eastwood! This home has several upgrades, featuring a newer roof, A/C, and furnace. Brimming with original character, this home has original hardwoods and a large covered front porch. This property is conveniently located minutes from downtown and the Gull Road corridor for shopping, dining and more!Schedule a private showing today!

9. 2026-03-05
   listed $145,000 Active 394-char remark

   Show marketing remark (394 chars)

   Welcome to this spacious 3 bed, 2 bath home in the heart of Eastwood! This home has several upgrades, featuring a newer roof, A/C, and furnace. Brimming with original character, this home has original hardwoods and a large covered front porch. This property is conveniently located minutes from downtown and the Gull Road corridor for shopping, dining and more!Schedule a private showing today!

10. 2026-03-05
    listed $145,000 Active

    Show marketing remark (394 chars)

    Welcome to this spacious 3 bed, 2 bath home in the heart of Eastwood! This home has several upgrades, featuring a newer roof, A/C, and furnace. Brimming with original character, this home has original hardwoods and a large covered front porch. This property is conveniently located minutes from downtown and the Gull Road corridor for shopping, dining and more!Schedule a private showing today!

11. 2025-06-11
    historical
12. 2025-06-10
    historical
13. 2024-12-28
    listed $174,900 Active
14. 2024-12-28
    listed $174,900 Active
15. 2024-12-11
    historical
16. 2024-12-10
    historical
17. 2024-07-10
    listed $160,000 Active
18. 2024-07-10
    listed $160,000 Active
19. 2024-07-09
    historical
20. 2024-07-09
    historical
21. 2024-07-03
    price $160,000
22. 2024-07-03
    price $160,000
23. 2024-07-03
    price $160,000
24. 2024-05-22
    status Active
25. 2024-05-22
    status Active
26. 2024-05-06
    status Pending
27. 2024-05-06
    status Pending
28. 2024-04-18
    status Active
29. 2024-04-18
    status Active
30. 2024-04-15
    status Pending
31. 2024-04-15
    status Pending
32. 2024-03-22
    listed $170,000 Active
33. 2024-03-22
    listed $170,000 Active
34. 2023-01-11
    soldstatus $150,000
35. 2023-01-06
    soldstatus $150,000 Sold
36. 2023-01-06
    soldstatus $150,000 Sold
37. 2023-01-06
    soldstatus $150,000 Closed
38. 2022-12-01
    historical
39. 2022-12-01
    historical
40. 2022-11-30
    historical
41. 2022-10-24
    price $159,900
42. 2022-10-24
    price $159,900
43. 2022-10-24
    price $159,900
44. 2022-09-29
    listed $179,900 Active
45. 2022-09-29
    listed $179,900 Active
46. 2022-09-29
    listed $179,900 Active
47. 2014-10-17
    historical
48. 2000-05-15
    soldstatus $77,700
49. 2000-01-15
    listed $79,900
50. 1991-08-16
    soldstatus $18,900

ⓘ 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: $4,145 · $345/mo
• Projected year-2 tax: $4,145 · $345/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 ≥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: $16,982
• − Mortgage interest: −$8,122
• − Property taxes: −$4,145
• − Insurance: −$725
• − Repairs & maintenance: −$1,359
• − Management: −$1,359
• − Depreciation: −$4,218
• Taxable loss: −$2,946
• Est. tax savings @ 24.0%: +$707
• After-tax cash flow: $128/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: Kalamazoo Public Schools
• NCES district ID: 2619950
• Math proficiency: 43% ▲ 13.00%
• Reading proficiency: 72% ▲ 33.00%
• Median HH income: $35,291
• Composite: 47.48/100
• National rank: #2275
• State rank: #71 of 540 in MI

Livability — Eastwood

• Score: 74/100
• State rank: #187
• US rank: #4713

Category grades

Amenities F 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: Eastwood, MI
• 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

+667.2% since first listed

52 events — show timeline

• 2026-03-31 Relisted — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2026-03-26 Relisted — REALCOMP
• 2026-03-25 Relisted — MiRealSource-MiMLS
• 2026-03-25 Relisted — SW Michigan MLS
• 2026-03-11 Listing Removed — SW Michigan MLS
• 2026-03-10 Listing Removed — MiRealSource-MiMLS
• 2026-03-05 Listed $145,000 SW Michigan MLS
• 2026-03-05 Listed $145,000 MiRealSource-MiMLS
• 2026-03-05 Listed $145,000 REALCOMP
• 2025-06-11 Listing Removed — MiRealSource-MiMLS
• 2025-06-10 Listing Removed — REALCOMP
• 2024-12-28 Listed $174,900 REALCOMP
• 2024-12-28 Listed $174,900 MiRealSource-MiMLS
• 2024-12-11 Listing Removed — MiRealSource-MiMLS
• 2024-12-10 Listing Removed — REALCOMP
• 2024-07-10 Listed $160,000 MiRealSource-MiMLS
• 2024-07-10 Listed $160,000 REALCOMP
• 2024-07-09 Listing Removed — MiRealSource-MiMLS
• 2024-07-09 Listing Removed — REALCOMP
• 2024-07-03 Price Changed $160,000 MiRealSource-MiMLS
• 2024-07-03 Price Changed $160,000 REALCOMP
• 2024-07-03 Price Changed $160,000 SW Michigan MLS
• 2024-05-22 Relisted — MiRealSource-MiMLS
• 2024-05-22 Relisted — REALCOMP
• 2024-05-06 Pending — REALCOMP
• 2024-05-06 Pending — MiRealSource-MiMLS
• 2024-04-18 Relisted — REALCOMP
• 2024-04-18 Relisted — MiRealSource-MiMLS
• 2024-04-15 Pending — MiRealSource-MiMLS
• 2024-04-15 Pending — REALCOMP
• 2024-03-22 Listed $170,000 MiRealSource-MiMLS
• 2024-03-22 Listed $170,000 REALCOMP
• 2023-01-11 Sold (Public Records) $150,000 Public Records
• 2023-01-06 Sold (MLS) $150,000 MiRealSource-MiMLS
• 2023-01-06 Sold (MLS) $150,000 SW Michigan MLS
• 2023-01-06 Sold (MLS) $150,000 REALCOMP
• 2022-12-01 Listing Removed — SW Michigan MLS
• 2022-12-01 Listing Removed — MiRealSource-MiMLS
• 2022-11-30 Listing Removed — REALCOMP
• 2022-10-24 Price Changed $159,900 MiRealSource-MiMLS
• 2022-10-24 Price Changed $159,900 REALCOMP
• 2022-10-24 Price Changed $159,900 SW Michigan MLS
• 2022-09-29 Listed $179,900 MiRealSource-MiMLS
• 2022-09-29 Listed $179,900 SW Michigan MLS
• 2022-09-29 Listed $179,900 REALCOMP
• 2014-10-17 Listing Removed — SW Michigan MLS
• 2000-05-15 Sold (MLS) $77,700 SW Michigan MLS
• 2000-01-15 Listed $79,900 SW Michigan MLS
• 1991-08-16 Sold (MLS) $18,900 SW Michigan MLS
• 1991-02-21 Listed $18,900 SW Michigan MLS
• 1990-08-21 Listed $18,900 SW Michigan MLS

Property tax history

+17.2%/yr

Latest (2025): $4,145 · +19.8% YoY. Source: county tax records.