620 Charlotte Ave · Kalamazoo, MI 49048

$112,900

1 bd · 1.0 ba · 608 sqft · SingleFamily public records · 42 Days on market

Built 1923 4,792 sqft lot Est $116k · at est.

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Why this score? — see what drove the D 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 +11.4/30.0
• ARV discount +8.8/15.0
• Schools +4.7/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

Key facts

• 4,792 sq ft lot
• Built 1923
• Listed 42 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $113k.

Deal economics

• At list price, monthly cash flow is $-39 ($-463/yr) — negative.
• To cash-flow at today's rent, offer at most $106k (6.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (17.0% below list).
• Recommended offer: $94k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 fast (+7.9%/yr); 154 active listings in the ZIP; 14 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 $781 of loan paydown is wiped out by about $3k 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 42 days — a 3% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 24y ago; this cycle's ask has dropped $17k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $113k implies a 1782% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,661 (17.0% 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 42 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.83% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.46%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $116,128
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 Charlotte Ave	0.00mi	2/1.0 (+1)	608 (0%)	0mo	$105,000	$173	95
1427 Charles Ave	0.19mi	2/1.0 (+1)	625 (+3%)	11mo	$99,900	$160	72
532 Chicago Ave	0.58mi	2/1.0 (+1)	600 (-1%)	10mo	$147,000	$245	58
608 Fenimore Ave	0.51mi	2/1.0 (+1)	693 (+14%)	18mo	$132,500	$191	33
1901 Elder St	0.46mi	2/1.0 (+1)	698 (+15%)	23mo	$147,500	$211	30

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: -13.4%
• Equity multiple: 0.50×
• Total profit: $-15,913
• Equity at exit: $16,834

10-year hold

• IRR: 1.8%
• Equity multiple: 1.16×
• Total profit: $4,938
• Equity at exit: $9,762

Cash invested: $31,612 (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: 10.0×

Monthly cashflow live

• Estimated rent: $937 high
• Mortgage (P&I): −$592
• Tax from tax record: −$139 /mo · $1,673/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $-39

Break-even live

Break-even rent $985

Max offer price $106,085

Occupancy floor 99%

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: $28,225
• Closing costs: $3,387
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1104 Sherwood Ave Apt 3 Kalamazoo, MI	—	1.0	500	$780	$1.56	21d	1	0.17mi
1809 Humphrey St Unit 12 Kalamazoo, MI	1.0	1.0	634	$805	$1.27	13d	1	0.51mi
525 E Ransom St Kalamazoo, MI	1.0–2.0	1.0–2.0	807	$462	$0.57	21d	1	0.64mi
621 Washburn Ave Kalamazoo, MI	2.0	1.0	720	$1,300	$1.81	21d	1	0.70mi
1536 Henson Ave Unit 4 Kalamazoo, MI	2.0	1.0	575	$995	$1.73	21d	1	0.73mi
815 N Pitcher St Unit 8 Kalamazoo, MI	—	1.0	457	$950	$2.08	21d	1	0.81mi
708 Mills St Unit 7 Kalamazoo, MI	1.0	1.0	600	$875	$1.46	13d	1	0.86mi
1928 Colgrove Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	912	$975	$1.07	13d	13	0.97mi
3025 E Main St Unit 5 Kalamazoo, MI	1.0	1.0	450	$695	$1.54	13d	1	1.20mi
530 S Rose St Kalamazoo, MI	1.0	1.0	695	$1,352	$1.94	13d	1	1.34mi
1010 Washington Ave Kalamazoo, MI	1.0	1.0	484	$775	$1.60	21d	1	1.35mi
119 W Dutton St Unit 5 Kalamazoo, MI	—	1.0	386	$780	$2.02	21d	1	1.36mi
1332 Poplar Pl Apt 2 Kalamazoo, MI	2.0	1.0	545	$800	$1.47	21d	1	1.40mi
1338 Portage St Kalamazoo, MI	1.0	1.0	750	$950	$1.27	21d	1	1.40mi

Listing history 32 events

1. 2026-04-24
   status Pending 317-char remark

   Show marketing remark (317 chars)

   Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

2. 2026-04-24
   status Pending 317-char remark

   Show marketing remark (317 chars)

   Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

3. 2026-04-24
   status Pending

   Show marketing remark (317 chars)

   Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

4. 2026-04-23
   price $112,900 317-char remark

   Show marketing remark (317 chars)

   Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

5. 2026-04-22
   price $112,900 317-char remark

   Show marketing remark (317 chars)

   Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

6. 2026-04-22
   price $112,900

   Show marketing remark (317 chars)

   Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

7. 2026-04-11
   price $114,900 317-char remark

   Show marketing remark (317 chars)

   Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

8. 2026-04-10
   price $114,900 317-char remark

   Show marketing remark (317 chars)

   Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

9. 2026-04-10
   price $114,900

   Show marketing remark (317 chars)

   Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

10. 2026-04-01
    price $119,900 317-char remark

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

11. 2026-03-31
    price $119,900 317-char remark

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

12. 2026-03-31
    price $119,900

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

13. 2026-03-24
    price $123,900 317-char remark

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

14. 2026-03-23
    price $123,900 317-char remark

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

15. 2026-03-23
    price $123,900

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

16. 2026-03-13
    listed $129,900 Active 317-char remark

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

17. 2026-03-13
    listed $129,900 Active

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

18. 2026-03-13
    listed $129,900 Active 317-char remark

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

19. 2026-03-11
    historical $129,900 317-char remark

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

20. 2026-03-11
    historical $129,900

    Show marketing remark (317 chars)

    Ready to stop renting? Welcome to 620 Charlotte Ave, a fully renovated 2-bed, 1-bath bungalow built from the studs. New appliances, new mechanicals, an allover new beginning for this Kalamazoo Promise-eligible home. Great care was taken at each step of remodel, schedule your own private showing and see for yourself!

21. 2018-09-12
    historical
22. 2018-09-11
    historical
23. 2018-09-11
    historical
24. 2018-09-04
    listed
25. 2018-09-04
    listed Active
26. 2018-09-04
    listed
27. 2013-03-08
    soldstatus $6,000
28. 2013-03-08
    soldstatus $6,000
29. 2013-01-03
    listed $9,900
30. 2013-01-03
    listed $9,900
31. 2002-04-12
    listed $28,900
32. 2002-04-12
    listed $28,900

ⓘ 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: $1,673 · $139/mo
• Projected year-2 tax: $1,706 · $142/mo
• Expected delta: +$33/yr (+$3/mo · 2.0%)

ⓘ 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: $11,239
• − Mortgage interest: −$6,324
• − Property taxes: −$1,673
• − Insurance: −$564
• − Repairs & maintenance: −$899
• − Management: −$899
• − Depreciation: −$3,284
• Taxable loss: −$2,405
• Est. tax savings @ 24.0%: +$577
• After-tax cash flow: $114/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): 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

+290.7% since first listed

32 events — show timeline

• 2026-04-24 Pending — MiRealSource-MiMLS
• 2026-04-24 Pending — REALCOMP
• 2026-04-24 Pending — SW Michigan MLS
• 2026-04-23 Price Changed $112,900 MiRealSource-MiMLS
• 2026-04-22 Price Changed $112,900 REALCOMP
• 2026-04-22 Price Changed $112,900 SW Michigan MLS
• 2026-04-11 Price Changed $114,900 MiRealSource-MiMLS
• 2026-04-10 Price Changed $114,900 REALCOMP
• 2026-04-10 Price Changed $114,900 SW Michigan MLS
• 2026-04-01 Price Changed $119,900 MiRealSource-MiMLS
• 2026-03-31 Price Changed $119,900 REALCOMP
• 2026-03-31 Price Changed $119,900 SW Michigan MLS
• 2026-03-24 Price Changed $123,900 MiRealSource-MiMLS
• 2026-03-23 Price Changed $123,900 REALCOMP
• 2026-03-23 Price Changed $123,900 SW Michigan MLS
• 2026-03-13 Listed $129,900 REALCOMP
• 2026-03-13 Listed $129,900 SW Michigan MLS
• 2026-03-13 Listed $129,900 MiRealSource-MiMLS
• 2026-03-11 Coming Soon $129,900 MiRealSource-MiMLS
• 2026-03-11 Coming Soon $129,900 SW Michigan MLS
• 2018-09-12 Listing Removed — SW Michigan MLS
• 2018-09-11 Listing Removed — MiRealSource-MiMLS
• 2018-09-11 Listing Removed — REALCOMP
• 2018-09-04 Listed — MiRealSource-MiMLS
• 2018-09-04 Listed — SW Michigan MLS
• 2018-09-04 Listed — REALCOMP
• 2013-03-08 Sold (MLS) $6,000 REALCOMP
• 2013-03-08 Sold (MLS) $6,000 SW Michigan MLS
• 2013-01-03 Listed $9,900 REALCOMP
• 2013-01-03 Listed $9,900 SW Michigan MLS
• 2002-04-12 Listed $28,900 REALCOMP
• 2002-04-12 Listed $28,900 SW Michigan MLS

Property tax history

+10.4%/yr

Latest (2025): $1,673 · +50.0% YoY. Source: county tax records.