389 Parker Ave · Fair Plain, MI 49022

$99,999

1 bd · 1.0 ba · 684 sqft · SingleFamily public records · 10 Days on market

Built 1920 9,497 sqft lot Est $115k · 13% 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 +29.3/30.0
• ARV discount +13.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cute house is ready for a new owner! Want to walk to the beautiful St. Joseph River- then this is your house! Want to be less than 1.3 from miles Pier 1000, Benton Harbor Boat Launce, Bread +Bar, Babes, Elks Lodge or the Art's District then Parker Ave. is where you want to be! This adorable Cape Cod house is move -n ready -with all the upgrades to make your life relaxing and peaceful. Why pay for Dock fees, storage or a rental when you can just move in and start having fun. This double lot has such a private feel and the large shed is perfect for any projects or storage you need - There is even has a green house!! Where can you get all this for Under $100,000? The yard is completely fenced in with a double entry, perfect for large items. Come see this house with a beautiful double deck for entertaining and even a basement for more storage! This is a Must see home- do not wait! This house will not last long- Summer is here - call today for a private showing!

Key facts

• Fenced yard
• Double deck
• Double lot

Tags

• DOUBLE LOT
• LARGE SHED
• GREEN HOUSE
• FENCED YARD
• DOUBLE ENTRY
• DOUBLE DECK

Property features AI

Exterior

• Utilities: Public water
• Home design: Single family residence; Residential property; Built in 1920
• Construction: Vinyl siding; Composition roof
• Exterior features: Corner lot; Yard shed(s)

Interior

• Kitchen: Refrigerator
• Bedrooms: Primary bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace (heating)
• Interior features: Five total rooms; Michigan-style basement
• Laundry & utility: Washer; Dryer; Laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 10.5% vs local median 2.8% in Fair Plain — 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 64/100 on livability (#495 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, amenities F, commute 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.
• Zoned schools: Fair Plain Middle School (math 0% / reading 4%, grade F, #493 of 493 statewide, top 100%, 288 students, 97% FRL); Fair Plain Middle School (math 0% / reading 4%, grade F, #493 of 493 statewide, top 100%, 288 students, 97% FRL); Benton Harbor High School (math 5% / reading 5%, grade F, #704 of 713 statewide, top 100%, 495 students, 97% FRL).
• Market conditions: 183 active listings in the ZIP; 1 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 8y 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 $22k; list at $100k implies a 355% 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 $99,999

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. 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: 1.25% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.11%
• DSCR: 1.67
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $114,912
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
379 Western Ave	0.55mi	1/1.0	672 (-2%)	2mo	$87,500	$130	70
299 W May St	0.16mi	2/1.0 (+1)	737 (+8%)	20mo	$105,000	$142	57
479 Chippewa Rd	0.74mi	2/1.0 (+1)	686 (+0%)	14mo	$115,000	$168	48
157 Cross St	0.49mi	2/1.0 (+1)	730 (+7%)	17mo	$129,900	$178	47

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: 5.7%
• Equity multiple: 1.22×
• Total profit: $6,232
• Equity at exit: $14,910

10-year hold

• IRR: 15.1%
• Equity multiple: 2.22×
• Total profit: $34,274
• Equity at exit: $8,646

Cash invested: $28,000 (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: 183
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$69 /mo · $827/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $353

Break-even live

Break-even rent $804

Max offer price $99,999

Occupancy floor 67%

Sensitivity live

Price	-10% $409	-5% $381	+0% $353	+5% $324	+10% $296
Rent	-10% $254	-5% $303	+0% $353	+5% $402	+10% $451
Rate	-1.0pp $403	-0.5pp $378	base $353	+0.5pp $327	+1.0pp $300

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
921 Court St Unit Upper St Joseph, MI	1.0	1.0	600	$1,250	$2.08	46d	1	1.08mi

Listing history 9 events

1. 2026-06-23
   statusdays on market $99,999 Active - Backup Offers Accepted 10 DOM
2. 2026-06-22
   days on market $99,999 Active 9 DOM
3. 2026-06-19
   days on market $99,999 Active 7 DOM
4. 2026-06-18
   days on market $99,999 Active 6 DOM
5. 2026-06-17
   days on market $99,999 Active 5 DOM
6. 2026-06-16
   days on market $99,999 Active 4 DOM
7. 2026-06-15
   days on market $99,999 Active 3 DOM
8. 2026-06-13
   remarks 699-char remark
9. 2026-06-13
   listed $99,999 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: $827 · $69/mo
• Projected year-2 tax: $1,183 · $99/mo
• Expected delta: +$357/yr (+$30/mo · 43.1%)

ⓘ 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 5/10 Major 8 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,000
• − Mortgage interest: −$5,601
• − Property taxes: −$827
• − Insurance: −$500
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$2,909
• Taxable income: $2,762
• Est. tax owed @ 24.0%: −$663
• After-tax cash flow: $3,567/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 — Fair Plain

• Score: 64/100
• State rank: #495
• US rank: #14566

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fair Plain, 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

+300.0% since first listed

14 events — show timeline

• 2026-06-12 Listed $99,999 MiRealSource-MiMLS
• 2026-06-12 Listed $99,999 SW Michigan MLS
• 2026-04-28 Listing Removed — MiRealSource-MiMLS
• 2026-04-28 Listing Removed — REALCOMP
• 2025-12-18 Price Changed $88,000 MiRealSource-MiMLS
• 2025-12-17 Price Changed $88,000 REALCOMP
• 2025-12-17 Price Changed $88,000 SW Michigan MLS
• 2025-12-04 Listed $95,000 REALCOMP
• 2025-12-04 Listed $95,000 MiRealSource-MiMLS
• 2018-06-25 Sold (MLS) $22,000 SW Michigan MLS
• 2018-06-25 Sold (MLS) $22,000 REALCOMP
• 2018-06-10 Contingent — SW Michigan MLS
• 2018-06-07 Listed $25,000 SW Michigan MLS
• 2018-06-07 Listed $25,000 REALCOMP

Property tax history

+5.2%/yr

Latest (2024): $827 · +4.8% YoY. Source: county tax records.