123 W Main St SE · Caledonia, MI 49316

$185,000

3 bd · 1.0 ba · 2,197 sqft · SingleFamily public records · 20 Days on market

Built 1880 8,712 sqft lot

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 123 W Main Street! This 3 bed 1 bath home is looking for the new owner to take it to its full potential! Whether you're an investor looking for a flip property or a home owner looking to earn some sweat equity this home is full of opportunities! Conveniently located, you are just minutes from restaurants, shops, parks, schools, and more! Schedule your showing today!

Key facts

• Minutes from shops
• Minutes from parks
• Minutes from schools

Tags

• MINUTES FROM RESTAURANTS
• MINUTES FROM SHOPS
• MINUTES FROM PARKS
• MINUTES FROM SCHOOLS

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Natural gas connected
• Home design: Traditional-style single-family residence; Built in 1880; Living area approximately 2,197; Well water
• Construction: Aluminum siding; Composition roof; Michigan basement
• Exterior features: Paved road access; Sidewalk

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Air conditioning
• Interior features: Seven total rooms; Michigan-style basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $757 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $182k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 2.7% in Caledonia — 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 78/100 on livability (#101 in MI, #2,449 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, health & safety F.
• Caledonia Community Schools (suburban): math 58% / reading 68% proficiency, ranked #26 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 257 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,253 units permitted in Kent County in 2024 (969 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 $6k of value loss. Plan a longer hold.
• Kent County population projected at +22% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $133k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $182,225 (1.5% below list)

Questions for the listing agent

1. Built in 1880 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.35% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.54%
• DSCR: 1.78
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $406,445
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5703 Scotsglen Ct #23	0.39mi	3/2.0	2,235 (+2%)	8mo	$422,500	$189	68
237 Emmons St SE	0.21mi	4/2.0 (+1)	2,332 (+6%)	12mo	$360,000	$154	61
308 Pleasant Ave	0.34mi	4/2.0 (+1)	2,130 (-3%)	14mo	$287,001	$135	59
9619 Scotsmoor Ct	0.39mi	3/2.5	2,112 (-4%)	13mo	$415,000	$196	58
9645 Scotsmoor Dr	0.28mi	4/2.5 (+1)	2,095 (-5%)	13mo	$386,250	$184	58
142 Casey Ct SE	0.19mi	4/2.0 (+1)	2,288 (+4%)	23mo	$365,000	$160	56
9571 Kraft Ave SE	0.55mi	4/2.5 (+1)	2,500 (+14%)	0mo	$530,000	$212	40
9154 Glengarry Ct SE	0.75mi	3/2.0	2,021 (-8%)	19mo	$373,000	$185	32

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: 9.0%
• Equity multiple: 1.35×
• Total profit: $18,246
• Equity at exit: $27,584

10-year hold

• IRR: 18.1%
• Equity multiple: 2.51×
• Total profit: $77,970
• Equity at exit: $15,995

Cash invested: $51,800 (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 49316

• Home prices YoY: -33.4%
• Active inventory: 257
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,489 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$162 /mo · $1,942/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$523
• Net cashflow: $757

Break-even live

Break-even rent $1,530

Max offer price $185,000

Occupancy floor 65%

Sensitivity live

Price	-10% $862	-5% $810	+0% $757	+5% $705	+10% $653
Rent	-10% $561	-5% $659	+0% $757	+5% $856	+10% $954
Rate	-1.0pp $850	-0.5pp $804	base $757	+0.5pp $709	+1.0pp $661

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
245 Kinsey St SE Caledonia, MI	2.0–3.0	2.0–2.5	1285	$2,545	$1.98	3d	6	0.33mi
6517 Cherry Glade Ct Caledonia, MI	4.0	2.0	2200	$2,895	$1.32	44d	1	1.38mi

Listing history 17 events

1. 2026-06-21
   days on market $185,000 Active 20 DOM
2. 2026-06-18
   days on market $185,000 Active 17 DOM
3. 2026-06-17
   days on market $185,000 Active 16 DOM
4. 2026-06-16
   days on market $185,000 Active 15 DOM
5. 2026-06-15
   status $185,000 Active 14 DOM
6. 2026-04-30
   status Pending 379-char remark

   Show marketing remark (379 chars)

   Welcome to 123 W Main Street! This 3 bed 1 bath home is looking for the new owner to take it to its full potential! Whether you're an investor looking for a flip property or a home owner looking to earn some sweat equity this home is full of opportunities! Conveniently located, you are just minutes from restaurants, shops, parks, schools, and more! Schedule your showing today!

7. 2026-04-30
   status Pending 379-char remark

   Show marketing remark (379 chars)

   Welcome to 123 W Main Street! This 3 bed 1 bath home is looking for the new owner to take it to its full potential! Whether you're an investor looking for a flip property or a home owner looking to earn some sweat equity this home is full of opportunities! Conveniently located, you are just minutes from restaurants, shops, parks, schools, and more! Schedule your showing today!

8. 2026-04-30
   status Pending

   Show marketing remark (379 chars)

   Welcome to 123 W Main Street! This 3 bed 1 bath home is looking for the new owner to take it to its full potential! Whether you're an investor looking for a flip property or a home owner looking to earn some sweat equity this home is full of opportunities! Conveniently located, you are just minutes from restaurants, shops, parks, schools, and more! Schedule your showing today!

9. 2026-04-16
   listed $185,000 Active 379-char remark

   Show marketing remark (379 chars)

   Welcome to 123 W Main Street! This 3 bed 1 bath home is looking for the new owner to take it to its full potential! Whether you're an investor looking for a flip property or a home owner looking to earn some sweat equity this home is full of opportunities! Conveniently located, you are just minutes from restaurants, shops, parks, schools, and more! Schedule your showing today!

10. 2026-04-16
    listed $185,000 Active 379-char remark

    Show marketing remark (379 chars)

    Welcome to 123 W Main Street! This 3 bed 1 bath home is looking for the new owner to take it to its full potential! Whether you're an investor looking for a flip property or a home owner looking to earn some sweat equity this home is full of opportunities! Conveniently located, you are just minutes from restaurants, shops, parks, schools, and more! Schedule your showing today!

11. 2026-04-16
    listed $185,000 Active

    Show marketing remark (379 chars)

    Welcome to 123 W Main Street! This 3 bed 1 bath home is looking for the new owner to take it to its full potential! Whether you're an investor looking for a flip property or a home owner looking to earn some sweat equity this home is full of opportunities! Conveniently located, you are just minutes from restaurants, shops, parks, schools, and more! Schedule your showing today!

12. 2026-04-13
    soldstatus $133,100
13. 2005-12-20
    soldstatus $114,900
14. 2005-12-02
    soldstatus $114,900
15. 2005-12-02
    soldstatus $114,900
16. 2005-08-30
    listed $114,900
17. 2005-08-30
    listed $114,900

ⓘ 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: $1,942 · $162/mo
• Projected year-2 tax: $2,395 · $200/mo
• Expected delta: +$454/yr (+$38/mo · 23.4%)

ⓘ 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 ≥96°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,868
• − Mortgage interest: −$10,363
• − Property taxes: −$1,942
• − Insurance: −$925
• − Repairs & maintenance: −$2,389
• − Management: −$2,389
• − Depreciation: −$5,382
• Taxable income: $6,477
• Est. tax owed @ 24.0%: −$1,555
• After-tax cash flow: $7,532/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: Caledonia Community Schools
• NCES district ID: 2607620
• Math proficiency: 58% ▲ 2.00%
• Reading proficiency: 68% ▲ 1.00%
• Median HH income: $75,649
• Composite: 55.98/100
• National rank: #1196
• State rank: #26 of 540 in MI

Livability — Caledonia

• Score: 78/100
• State rank: #101
• US rank: #2449

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Caledonia, MI
• County: Kent County · 533,805 people
• Metro: Grand Rapids-Kentwood, MI
• Population (ZIP): 26,427
• Household income: $103,238
• Rent vs Own: 10.1% rent · 89.9% own
• Severe rent burden: 96.0

Population outlook (Kent County) Hauer SSP2

• Today (2025): 712,484 people
• By 2030: 748,618 · +5.1%
• By 2040: 814,777 · +14.4%
• By 2050: 868,556 · +21.9%
• By 2075: 966,487 · +35.7%
• By 2100: 967,975 · +35.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Two or more races 8% Hispanic / Latino 7% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Iranian 21% Romanian 7% Slovak 2%
• Foreign-born: 7% · Canada, Vietnam, China
• Languages at home: 92% English-only · Spanish 2% Vietnamese 2% Chinese 1%

Political lean MEDSL · Kent

• 2024 margin: Lean D (+5.4) · D 51.8% · R 46.5% · Other 1.7%
• 2008→2024 swing: +4.8pp toward D · 2008: 0.5pp · 2024: 5.4pp
• All cycles: 2024: D+5.4 2020: D+6.1 2016: R+3.1 2012: R+7.9 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -117.75%
• Current HPI: 235.3555
• Rent YoY: —
• Metro: Grand Rapids-Kentwood, 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

+61.0% since first listed

12 events — show timeline

• 2026-04-30 Pending — REALCOMP
• 2026-04-30 Pending — MiRealSource-MiMLS
• 2026-04-30 Pending — SW Michigan MLS
• 2026-04-16 Listed $185,000 REALCOMP
• 2026-04-16 Listed $185,000 SW Michigan MLS
• 2026-04-16 Listed $185,000 MiRealSource-MiMLS
• 2026-04-13 Sold (Public Records) $133,100 Public Records
• 2005-12-20 Sold (Public Records) $114,900 Public Records
• 2005-12-02 Sold (MLS) $114,900 REALCOMP
• 2005-12-02 Sold (MLS) $114,900 SW Michigan MLS
• 2005-08-30 Listed $114,900 REALCOMP
• 2005-08-30 Listed $114,900 SW Michigan MLS

Property tax history

-0.9%/yr

Latest (2025): $1,942 · -33.0% YoY. Source: county tax records.