349 E Empire Ave · Benton Harbor, MI 49022

$140,000

5 bd · 1.0 ba · 1,930 sqft · SingleFamily public records · 3 Days on market

Built 1920 5,391 sqft lot Est $124k · 13% over ↓ 3% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Situated on a desirable corner lot with a detached garage, this spacious home offers incredible versatility and classic appeal. There are 4 bedrooms on the upper level and a potential 5th room/flex space on the main floor. The main level has an original kitchen full of character, spacious living room with a decorative fireplace, dining area, and an additional room. 2025 brick work done on front and back of the home. New roof installed 2025, as well as, bathroom renovation. This spacious home offers endless opportunities for whatever needs you desire. Let's arrange a showing.

Key facts

• Decorative fireplace
• Corner lot
• Brick work

Tags

• CORNER LOT
• DETACHED GARAGE
• ORIGINAL KITCHEN
• DECORATIVE FIREPLACE
• BRICK WORK
• NEW ROOF

Property features AI

Exterior

• Parking: Detached 1-car garage; Detached parking
• Utilities: Public water; Natural gas available and connected; Electricity available
• Home design: Colonial / Traditional style; Single-family residence; Residential property; Built in 1920
• Construction: Brick construction; Composition roof
• Exterior features: Corner lot; Paved road access

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total rooms: 7
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Cooling system present
• Interior features: Pantry; Crawl space and partial basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 15.1% vs local median 7.4% in Benton Harbor — 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 55/100 on livability (#671 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools F, crime F, amenities F.
• Benton Harbor Area Schools (urban): math 4% / reading 7% proficiency, ranked #732 of 760 in MI (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 89% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 179 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 397 units permitted in Berrien County in 2024 (40 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.
• Berrien County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 5y 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 $85k; list at $140k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1920 — 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 F-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. 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?
5. 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.
6. 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.
7. 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: 1.74% ✓
• Cap rate: 15.07%
• Cash-on-cash: 31.34%
• DSCR: 2.39
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $123,520
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
349 East Empire Ave	0.00mi	5/1.0	1,930 (0%)	8mo	$85,000	$44	93
982 Colfax Ave	0.35mi	4/2.0 (-1)	1,840 (-5%)	13mo	$117,350	$64	56
872 Mc Alister Ave	0.21mi	5/2.0	1,640 (-15%)	6mo	$145,000	$88	56
1064 Colfax Ave	0.39mi	4/2.0 (-1)	1,830 (-5%)	21mo	$40,000	$22	47
402 Searles Ave	0.70mi	5/1.5	1,696 (-12%)	12mo	$48,500	$29	35
1266 Union Ave	0.63mi	5/1.0	1,740 (-10%)	23mo	$55,000	$32	35
201 Eastern Ave	0.71mi	4/3.0 (-1)	2,043 (+6%)	14mo	$220,000	$108	32
451 Willow Creek Dr	0.73mi	4/2.5 (-1)	1,822 (-6%)	18mo	$259,900	$143	30
463 Willow Creek Dr	0.73mi	4/2.5 (-1)	1,822 (-6%)	22mo	$286,430	$157	27

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: 26.2%
• Equity multiple: 2.08×
• Total profit: $42,527
• Equity at exit: $20,874

10-year hold

• IRR: 33.8%
• Equity multiple: 4.09×
• Total profit: $120,997
• 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 49022

• Active inventory: 179
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $2,440 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$111 /mo · $1,335/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $1,024

Break-even live

Break-even rent $1,144

Max offer price $140,000

Occupancy floor 53%

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
968 Chicago Ave Benton Harbor, MI	4.0	2.0	1350	$1,800	$1.33	43d	1	1.42mi
1319 Lewis Ave Saint Joseph, MI	4.0	3.0	2280	$2,970	$1.30	43d	1	1.43mi

Listing history 4 events

1. 2026-06-19
   days on market $140,000 Active 3 DOM
2. 2026-06-18
   days on market $140,000 Active 2 DOM
3. 2026-06-17
   remarks 581-char remark
4. 2026-06-17
   listed $140,000 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: $1,335 · $111/mo
• Projected year-2 tax: $1,746 · $145/mo
• Expected delta: +$410/yr (+$34/mo · 30.7%)

ⓘ 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 · 14 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: $29,282
• − Mortgage interest: −$7,842
• − Property taxes: −$1,335
• − Insurance: −$700
• − Repairs & maintenance: −$2,343
• − Management: −$2,343
• − Depreciation: −$4,073
• Taxable income: $10,647
• Est. tax owed @ 24.0%: −$2,555
• After-tax cash flow: $9,732/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: Benton Harbor Area Schools
• NCES district ID: 2604830
• Math proficiency: 4% ▬ 0.00%
• Reading proficiency: 7% ▬ 0.00%
• Median HH income: $27,038
• Composite: 7.53/100
• National rank: #14787
• State rank: #732 of 760 in MI

Livability — Benton Harbor

• Score: 55/100
• State rank: #671
• US rank: #23724

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Benton Harbor, MI
• Population (ZIP): 29,796

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 50% White 37% Hispanic / Latino 7% Two or more races 6% Native American 2%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -309.81%
• Current HPI: 209.9723
• 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

-3.4% since first listed

51 events — show timeline

• 2026-06-16 Listed $140,000 REALCOMP
• 2026-06-16 Listed $140,000 MiRealSource-MiMLS
• 2026-06-16 Listed $140,000 SW Michigan MLS
• 2025-10-24 Sold (Public Records) $85,000 Public Records
• 2025-10-23 Sold (MLS) $85,000 REALCOMP
• 2025-10-23 Sold (MLS) $85,000 MiRealSource-MiMLS
• 2025-10-23 Sold (MLS) $85,000 SW Michigan MLS
• 2025-10-16 Pending — REALCOMP
• 2025-10-16 Pending — MiRealSource-MiMLS
• 2025-10-16 Pending — SW Michigan MLS
• 2025-09-23 Price Changed $105,000 MiRealSource-MiMLS
• 2025-09-22 Price Changed $105,000 REALCOMP
• 2025-09-22 Price Changed $105,000 SW Michigan MLS
• 2025-09-06 Listed $114,500 REALCOMP
• 2025-09-06 Listed $114,500 MiRealSource-MiMLS
• 2025-09-06 Listed $114,500 SW Michigan MLS
• 2024-07-10 Listing Removed — MiRealSource-MiMLS
• 2024-07-10 Listing Removed — REALCOMP
• 2024-06-05 Listed $82,000 MiRealSource-MiMLS
• 2024-06-05 Listed $82,000 REALCOMP
• 2022-12-05 Sold (Public Records) $70,000 Public Records
• 2022-10-18 Sold (MLS) $70,000 SW Michigan MLS
• 2022-10-18 Sold (MLS) $70,000 REALCOMP
• 2022-09-29 Pending — REALCOMP
• 2022-09-29 Pending — SW Michigan MLS
• 2022-09-29 Listing Removed — MiRealSource-MiMLS
• 2022-09-15 Price Changed $92,000 REALCOMP
• 2022-09-15 Price Changed $92,000 SW Michigan MLS
• 2022-07-16 Price Changed $95,000 REALCOMP
• 2022-07-16 Price Changed $95,000 SW Michigan MLS
• 2022-06-25 Relisted — REALCOMP
• 2022-06-25 Contingent — REALCOMP
• 2022-06-23 Relisted — REALCOMP
• 2022-06-23 Relisted — SW Michigan MLS
• 2022-06-13 Pending — REALCOMP
• 2022-06-13 Pending — SW Michigan MLS
• 2022-06-09 Contingent — REALCOMP
• 2022-06-09 Contingent — SW Michigan MLS
• 2022-04-30 Price Changed $105,000 REALCOMP
• 2022-04-30 Price Changed $105,000 SW Michigan MLS
• 2022-03-01 Price Changed $109,900 REALCOMP
• 2022-02-28 Price Changed $109,900 SW Michigan MLS
• 2021-11-23 Price Changed $114,900 REALCOMP
• 2021-11-23 Price Changed $114,900 SW Michigan MLS
• 2021-10-21 Price Changed $119,900 REALCOMP
• 2021-10-21 Price Changed $119,900 SW Michigan MLS
• 2021-09-26 Price Changed $125,000 REALCOMP
• 2021-09-26 Price Changed $125,000 SW Michigan MLS
• 2021-09-15 Listed $92,000 MiRealSource-MiMLS
• 2021-09-15 Listed $145,000 SW Michigan MLS
• 2021-09-15 Listed $145,000 REALCOMP

Property tax history

+11.2%/yr

Latest (2024): $1,335 · +4.2% YoY. Source: county tax records.