4503 106th Ave · Cheshire, MI 49010

$214,900

4 bd · 2.0 ba · 1,782 sqft · SingleFamily public records · 6 Days on market

Built 2001 2.00 ac lot

---

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 +13.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.0/10.0
• 1% rule +3.7/10.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your private Allegan retreat! Situated on 2 wooded acres with 200 feet of frontage on Swan Creek, this beautifully updated 4 bedroom, 2 bath ranch offers the perfect blend of space, privacy, and nature. Enjoy kayaking, canoeing, fishing, or simply relaxing with peaceful creek views right from home. Inside, you'll find nearly 2,000 finished square feet featuring a spacious primary suite with walk-in closet and private bath, a large kitchen with center island and great counter space, an eat-in dining area, formal dining room, living room, office space, and a cozy family room with wood-burning fireplace. Recent updates include a new roof, new flooring, and a new well. The fenced front yard and playset add extra function and charm. Permanently affixed and eligible for Cash, Conventional, FHA, RD, and VA financing!

Key facts

• 200 feet of frontage
• Walk-in closet
• Wooded acres

Tags

• 200 FEET OF FRONTAGE
• SWAN CREEK
• WOODED ACRES
• SPACIOUS PRIMARY SUITE
• WALK-IN CLOSET
• LARGE KITCHEN

Property features AI

Exterior

• Utilities: Well water; High-speed internet
• Home design: Ranch-style home; Residential property
• Construction: Built in 2001; Vinyl siding; Composition roof; Slab foundation
• Exterior features: Wooded lot; Wetland area; 2.0 acres

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Wall furnace (heating)
• Interior features: Wood-burning fireplace; Insulated windows; 11 total rooms
• Laundry & utility: Washer; Dryer; Propane water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-1 ($-8/yr) — negative.
• To cash-flow at today's rent, offer at most $215k (0.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (12.6% below list).
• Recommended offer: $188k (12.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Allegan Public Schools (town): math 26% / reading 37% proficiency, ranked #338 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 183 active listings in the ZIP; 419 units permitted in Allegan County in 2024 (0 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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 23y 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.

Recommended offer $187,906 (12.6% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.87% ✗
• Cap rate: 6.29%
• Cash-on-cash: -0.01%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-34,837
• Equity at exit: $32,042

10-year hold

• IRR: -8.0%
• Equity multiple: 0.50×
• Total profit: $-30,275
• Equity at exit: $18,581

Cash invested: $60,172 (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 49010

• Home prices YoY: -34.3%
• Active inventory: 183
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,879 medium
• Mortgage (P&I): −$1,127
• Tax est. 1.5%: −$269 /mo · $3,224/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $-1

Break-even live

Break-even rent $1,880

Max offer price $214,803

Occupancy floor 95%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $214,900 Active 6 DOM
2. 2026-06-17
   days on market $214,900 Active 5 DOM
3. 2026-06-16
   days on market $214,900 Active 4 DOM
4. 2026-06-15
   days on market $214,900 Active 3 DOM
5. 2026-06-12
   remarks 699-char remark

   Show marketing remark (832 chars)

   Welcome to your private Allegan retreat! Situated on 2 wooded acres with 200 feet of frontage on Swan Creek, this beautifully updated 4 bedroom, 2 bath ranch offers the perfect blend of space, privacy, and nature. Enjoy kayaking, canoeing, fishing, or simply relaxing with peaceful creek views right from home. Inside, you'll find nearly 2,000 finished square feet featuring a spacious primary suite with walk-in closet and private bath, a large kitchen with center island and great counter space, an eat-in dining area, formal dining room, living room, office space, and a cozy family room with wood-burning fireplace. Recent updates include a new roof, new flooring, and a new well. The fenced front yard and playset add extra function and charm. Permanently affixed and eligible for Cash, Conventional, FHA, RD, and VA financing!

6. 2026-06-12
   listed $214,900 Active 1 DOM

   Show marketing remark (832 chars)

   Welcome to your private Allegan retreat! Situated on 2 wooded acres with 200 feet of frontage on Swan Creek, this beautifully updated 4 bedroom, 2 bath ranch offers the perfect blend of space, privacy, and nature. Enjoy kayaking, canoeing, fishing, or simply relaxing with peaceful creek views right from home. Inside, you'll find nearly 2,000 finished square feet featuring a spacious primary suite with walk-in closet and private bath, a large kitchen with center island and great counter space, an eat-in dining area, formal dining room, living room, office space, and a cozy family room with wood-burning fireplace. Recent updates include a new roof, new flooring, and a new well. The fenced front yard and playset add extra function and charm. Permanently affixed and eligible for Cash, Conventional, FHA, RD, and VA financing!

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

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 ≥98°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: $22,549
• − Mortgage interest: −$12,038
• − Property taxes: −$3,224
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,804
• − Management: −$1,804
• − Depreciation: −$6,252
• Taxable loss: −$3,646
• Est. tax savings @ 24.0%: +$875
• After-tax cash flow: $867/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: Allegan Public Schools
• NCES district ID: 2602220
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $48,602
• Composite: 27.27/100
• National rank: #7008
• State rank: #338 of 540 in MI

Livability — Cheshire

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 18,394

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 5% Black 1%
• Common ancestry: Iranian 10% Romanian 4% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.08%
• Current HPI: 260.4976
• 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

+53.6% since first listed

37 events — show timeline

• 2026-06-12 Listed $214,900 MiRealSource-MiMLS
• 2026-06-12 Listed $214,900 SW Michigan MLS
• 2024-06-07 Sold (Public Records) $215,000 Public Records
• 2024-06-04 Sold (MLS) $215,000 SW Michigan MLS
• 2024-06-04 Sold (MLS) $215,000 MiRealSource-MiMLS
• 2024-06-04 Sold (MLS) $215,000 REALCOMP
• 2024-04-22 Pending — REALCOMP
• 2024-04-22 Pending — MiRealSource-MiMLS
• 2024-04-22 Pending — SW Michigan MLS
• 2024-03-01 Listed $209,900 SW Michigan MLS
• 2024-03-01 Listed $209,900 MiRealSource-MiMLS
• 2024-03-01 Listed $209,900 REALCOMP
• 2023-02-27 Sold (Public Records) $183,000 Public Records
• 2023-02-17 Sold (MLS) $183,000 MiRealSource-MiMLS
• 2023-02-17 Sold (MLS) $183,000 SW Michigan MLS
• 2023-02-17 Sold (MLS) $183,000 REALCOMP
• 2023-01-20 Pending — REALCOMP
• 2023-01-20 Pending — MiRealSource-MiMLS
• 2023-01-20 Pending — SW Michigan MLS
• 2023-01-16 Price Changed $184,900 MiRealSource-MiMLS
• 2023-01-16 Price Changed $184,900 REALCOMP
• 2023-01-16 Price Changed $184,900 SW Michigan MLS
• 2023-01-11 Price Changed $199,900 MiRealSource-MiMLS
• 2023-01-11 Price Changed $199,900 REALCOMP
• 2023-01-11 Price Changed $199,900 SW Michigan MLS
• 2023-01-04 Listed $209,900 MiRealSource-MiMLS
• 2023-01-04 Listed $209,900 SW Michigan MLS
• 2023-01-04 Listed $209,900 REALCOMP
• 2022-07-28 Sold (Public Records) $52,000 Public Records
• 2015-01-24 Listing Removed — SW Michigan MLS
• 2015-01-24 Listing Removed — SW Michigan MLS
• 2005-02-24 Listing Removed — REALCOMP
• 2004-01-24 Listed $119,900 REALCOMP
• 2004-01-24 Listed $119,900 SW Michigan MLS
• 2003-08-27 Listing Removed — REALCOMP
• 2003-02-27 Listed $139,900 REALCOMP
• 2003-02-27 Listed $139,900 SW Michigan MLS