1108 Merrill St · Kalamazoo, MI 49008

$135,000

3 bd · 1.0 ba · 1,316 sqft · SingleFamily public records · 14 Days on market

Built 1917 2,722 sqft lot Est $166k · 19% 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 +26.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +7.2/10.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained American Foursquare in historic Vine Neighborhood . Perfect as a student rental or a home for someone that loves the superior craftmanship and charm of old houses. Filled with early 20th century quality features like hardwood floors, 6 inch door and window molding, 12 in baseboards, solid 5 panel wood doors, walk-up carpeted attic, built-in drawers and cabinet in the upstairs hallway and large covered front porch with Doric columns . Nestle on a hillside in a walkable neighborhood near WMU and the vibrant downtown Kalamazoo with its restaurants, entertainment and boutique shopping. This home is priced to sell, so get in quickly! For more info or to set up a private showing, call/text Bill Zehner at [phone] or email [email protected]

Key facts

• Doric columns
• Hardwood floors
• 2,722 sq ft lot

Tags

• HISTORIC VINE NEIGHBORHOOD
• HARDWOOD FLOORS
• SOLID 5 PANEL WOOD DOORS
• WALK-UP CARPETED ATTIC
• LARGE COVERED FRONT PORCH
• DORIC COLUMNS

Property features AI

Exterior

• Utilities: Public water; Natural gas (water heater)
• Home design: Traditional-style single family residence; Built in 1917
• Construction: Wood siding exterior; Shingle roof; Full basement
• Exterior features: Paved road access

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: At least two bedrooms
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Seven total rooms; Bay/Bow windows
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 9.3% vs local median 4.1% in Kalamazoo — 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 76/100 on livability (#141 in MI, #3,492 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, 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 (+2.4%/yr); 116 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $933 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 22 sale attempts since 24y 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 $68k; list at $135k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1917 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.22% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.68%
• DSCR: 1.48
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $165,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 Wheaton Ave	0.05mi	3/1.0	1,334 (+1%)	9mo	$167,500	$126	88
514 Forest St	0.25mi	3/1.5	1,323 (+0%)	6mo	$130,000	$98	80
1606 Merrill St	0.32mi	3/1.0	1,344 (+2%)	3mo	$291,000	$217	79
1411 Oak St	0.25mi	3/2.0	1,389 (+6%)	6mo	$79,900	$58	71
726 Forest St	0.12mi	4/1.5 (+1)	1,437 (+9%)	2mo	$133,000	$93	70
519 Walnut Ct	0.64mi	3/1.0	1,344 (+2%)	1mo	$162,600	$121	66
1018 Oak St	0.12mi	4/1.0 (+1)	1,137 (-14%)	6mo	$103,000	$91	62
1820 Oakland Dr	0.74mi	3/1.5	1,334 (+1%)	4mo	$205,000	$154	58
819 Oakland Dr	0.26mi	3/2.0	1,510 (+15%)	7mo	$125,000	$83	53
1608 S Rose St	0.61mi	4/1.0 (+1)	1,272 (-3%)	10mo	$169,000	$133	53
515 Mccourtie St	0.29mi	4/2.0 (+1)	1,161 (-12%)	8mo	$165,500	$143	51
1317 John St	0.69mi	4/2.0 (+1)	1,428 (+8%)	0mo	$187,000	$131	44

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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,385
• Equity at exit: $20,129

10-year hold

• IRR: 8.1%
• Equity multiple: 1.60×
• Total profit: $22,612
• Equity at exit: $11,672

Cash invested: $37,800 (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 49008

• Rents YoY: 2.4%
• Active inventory: 116
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,650 high
• Mortgage (P&I): −$708
• Tax from tax record: −$203 /mo · $2,432/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $336

Break-even live

Break-even rent $1,224

Max offer price $135,000

Occupancy floor 75%

Sensitivity live

Price	-10% $413	-5% $375	+0% $336	+5% $298	+10% $260
Rent	-10% $206	-5% $271	+0% $336	+5% $401	+10% $467
Rate	-1.0pp $404	-0.5pp $371	base $336	+0.5pp $301	+1.0pp $266

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	14d	12	0.35mi
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	22d	1	0.53mi
2002 S Westnedge Ave Kalamazoo, MI	2.0	1.0	900	$1,250	$1.39	22d	2	0.65mi
1512 S Burdick St Kalamazoo, MI	3.0	1.0	887	$1,250	$1.41	14d	1	0.65mi
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	14d	2	0.79mi
816 W Main St Kalamazoo, MI	3.0	1.0	1005	$1,100	$1.09	22d	1	0.82mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	22d	1	0.83mi
232 Woodward Ave Unit 5 Kalamazoo, MI	2.0	1.0	1400	$999	$0.71	14d	1	0.92mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	14d	1	0.98mi
722 W Kalamazoo Ave Unit 2 Kalamazoo, MI	3.0	1.0	1800	$1,600	$0.89	22d	1	1.01mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	22d	1	1.15mi
2725 S Burdick St Kalamazoo, MI	2.0	1.0	1000	$1,250	$1.25	14d	1	1.40mi
23 Ridgewood St Kalamazoo, MI	2.0	1.0	1100	$1,295	$1.18	22d	1	1.40mi
611 Whites Rd Kalamazoo, MI	1.0–2.0	1.0	963	$1,449	$1.50	14d	4	1.44mi

Listing history 12 events

1. 2026-06-17
   status $135,000 Pending 14 DOM
2. 2026-06-16
   days on market $135,000 Active 14 DOM
3. 2026-06-15
   days on market $135,000 Active 13 DOM
4. 2026-06-14
   days on market $135,000 Active 11 DOM
5. 2026-06-13
   days on market $135,000 Active 10 DOM
6. 2026-06-10
   days on market $135,000 Active 8 DOM
7. 2026-06-09
   days on market $135,000 Active 7 DOM
8. 2026-06-08
   days on market $135,000 Active 6 DOM
9. 2026-06-07
   days on market $135,000 Active 5 DOM
10. 2026-06-05
    days on market $135,000 Active 2 DOM
11. 2026-06-03
    remarks 699-char remark
12. 2026-06-03
    listed $135,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $2,432 · $203/mo
• Projected year-2 tax: $2,432 · $203/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 ≥100°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: $19,795
• − Mortgage interest: −$7,562
• − Property taxes: −$2,432
• − Insurance: −$675
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − Depreciation: −$3,927
• Taxable income: $2,031
• Est. tax owed @ 24.0%: −$488
• After-tax cash flow: $3,548/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 — Kalamazoo

• Score: 76/100
• State rank: #141
• US rank: #3492

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kalamazoo, MI
• County: Kalamazoo County · 224,317 people
• City population: 121,397
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 16,137
• Household income: $74,943
• Rent vs Own: 33.8% rent · 66.2% own
• Severe rent burden: 513.0

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 (75%)
• Race & ethnicity: White 75% Black 12% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Iranian 5% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -170.52%
• Current HPI: 230.6876
• Rent YoY: ▲ 2.41%
• 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

+59.0% since first listed

43 events — show timeline

• 2026-06-02 Listed $135,000 SW Michigan MLS
• 2026-06-02 Listed $135,000 REALCOMP
• 2026-06-02 Listed $135,000 MiRealSource-MiMLS
• 2026-01-09 Listing Removed — MiRealSource-MiMLS
• 2026-01-09 Listing Removed — REALCOMP
• 2025-10-18 Listed $123,000 REALCOMP
• 2025-10-18 Listed $123,000 MiRealSource-MiMLS
• 2024-04-08 Rental Removed $1,400 APPFOLIO
• 2024-02-04 Listed for Rent $1,400 APPFOLIO
• 2022-05-25 Listing Removed — REALCOMP
• 2022-05-25 Listing Removed — REALCOMP
• 2022-05-25 Listing Removed — REALCOMP
• 2018-05-15 Sold (Public Records) $68,000 Public Records
• 2014-09-26 Listing Removed — SW Michigan MLS
• 2014-09-24 Listing Removed — SW Michigan MLS
• 2014-09-18 Listing Removed — SW Michigan MLS
• 2010-10-08 Listing Removed — REALCOMP
• 2010-07-08 Listed $79,900 REALCOMP
• 2010-07-08 Listed $79,900 SW Michigan MLS
• 2007-08-03 Sold (Public Records) $81,000 Public Records
• 2007-06-29 Sold (MLS) $81,000 REALCOMP
• 2007-06-29 Sold (MLS) $81,000 SW Michigan MLS
• 2007-05-16 Listing Removed — SW Michigan MLS
• 2007-05-16 Listed $83,888 REALCOMP
• 2007-05-16 Listed $83,888 SW Michigan MLS
• 2007-03-31 Listed $86,894 SW Michigan MLS
• 2007-03-31 Listed $86,894 REALCOMP
• 2007-03-30 Listing Removed — REALCOMP
• 2006-12-15 Listing Removed — SW Michigan MLS
• 2006-12-13 Listed $87,900 REALCOMP
• 2006-12-13 Listed $87,900 SW Michigan MLS
• 2006-11-08 Listed $89,900 SW Michigan MLS
• 2006-11-08 Listed $89,900 REALCOMP
• 2006-10-25 Listing Removed — REALCOMP
• 2006-08-23 Listing Removed — SW Michigan MLS
• 2006-08-23 Listed $89,900 REALCOMP
• 2006-08-23 Listed $89,900 SW Michigan MLS
• 2006-04-25 Listed $89,900 SW Michigan MLS
• 2006-04-25 Listed $89,900 REALCOMP
• 2002-07-30 Sold (MLS) $78,500 REALCOMP
• 2002-07-30 Sold (MLS) $78,500 SW Michigan MLS
• 2002-04-10 Listed $84,900 REALCOMP
• 2002-04-10 Listed $84,900 SW Michigan MLS

Property tax history

+3.7%/yr

Latest (2025): $2,432 · +3.0% YoY. Source: county tax records.