620 Gilbert Ave · Kalamazoo, MI 49048

$80,000

4 bd · 2.0 ba · 1,374 sqft · SingleFamily public records · 86 Days on market

Built 1900 5,663 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Rent growth +4.5/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

620 Gilbert Ave Kalamazoo MI 49048 4 bedroom 2 bath house for sale. -This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. -All offers must be entered through propoffers.com. -An offer management fee of $200 (plus sales tax, where applicable) is charged by Pyramid Platform in connection with the use of Propoffers.com. This fee will be paid at closing from the agent representing the buyer as selling agent or transaction broker. -Subject to seller addendum-For financed offers EMD to be 1% or $1000 whichever is greater and for cash offers EMD to be 5% or $5000 whichever is greater. -All offers are subject to OFAC clearance. -A viewing release must be signed and returned to our office before showing this property.

Key facts

• 5,663 sq ft lot
• Built 1900
• Listed 85 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional single-family residence; Residential property
• Construction: Built in 1900; Aluminum siding; Asphalt roof; Living area approximately 1,374 square feet
• Exterior features: Paved road access; Lot about 0.13 acres

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Five total rooms; Partial basement
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $708 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.9% vs local median 3.5% 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); 155 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $553 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 33y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $51k; list at $80k implies a 57% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
7. 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.
8. 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: 2.01% ✓
• Cap rate: 16.92%
• Cash-on-cash: 37.94%
• DSCR: 2.69
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $174,498
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1017 Hotop Ave	0.15mi	4/2.0	1,330 (-3%)	9mo	$60,000	$45	80
619 Fairbanks Ave	0.17mi	3/1.0 (-1)	1,329 (-3%)	1mo	$180,000	$135	77
702 Charlotte Ave	0.07mi	3/2.5 (-1)	1,478 (+8%)	8mo	$180,000	$122	71
1607 E Michigan Ave	0.44mi	3/1.5 (-1)	1,336 (-3%)	1mo	$170,000	$127	67
927 Albert Ave	0.48mi	3/1.5 (-1)	1,404 (+2%)	3mo	$182,000	$130	65
708 Harrison St	0.49mi	4/1.0	1,248 (-9%)	4mo	$112,000	$90	54
705 Fenimore Ave	0.55mi	4/1.5	1,490 (+8%)	8mo	$135,000	$91	52
1002 Hazard Ave	0.42mi	3/1.0 (-1)	1,220 (-11%)	3mo	$135,900	$111	50
611 Fenimore Ave	0.54mi	3/1.5 (-1)	1,540 (+12%)	4mo	$223,000	$145	44
1824 Humphrey St	0.56mi	3/1.0 (-1)	1,192 (-13%)	2mo	$160,000	$134	41
209 Wallace Ave	0.57mi	3/1.0 (-1)	1,184 (-14%)	2mo	$135,000	$114	39
1007 E Crosstown Pkwy	0.73mi	5/2.0 (+1)	1,230 (-10%)	9mo	$161,000	$131	36

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: 39.5%
• Equity multiple: 2.81×
• Total profit: $40,471
• Equity at exit: $11,928

10-year hold

• IRR: 48.2%
• Equity multiple: 6.85×
• Total profit: $131,122
• Equity at exit: $6,917

Cash invested: $22,400 (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: 155
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,611 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$111 /mo · $1,338/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $708

Break-even live

Break-even rent $714

Max offer price $80,000

Occupancy floor 51%

Sensitivity live

Price	-10% $753	-5% $731	+0% $708	+5% $686	+10% $663
Rent	-10% $581	-5% $645	+0% $708	+5% $772	+10% $835
Rate	-1.0pp $748	-0.5pp $729	base $708	+0.5pp $687	+1.0pp $666

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1928 Colgrove Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	912	$1,390	$1.52	14d	13	1.00mi
2420 Upper Riverview Dr Kalamazoo, MI	3.0	1.0	925	$1,300	$1.41	22d	1	1.25mi
722 W Kalamazoo Ave Unit 2 Kalamazoo, MI	3.0	1.0	1800	$1,600	$0.89	22d	1	1.48mi

Listing history 28 events

1. 2026-06-21
   days on market $80,000 Active 86 DOM
2. 2026-06-18
   days on market $80,000 Active 83 DOM
3. 2026-06-17
   days on market $80,000 Active 82 DOM
4. 2026-06-16
   days on market $80,000 Active 81 DOM
5. 2026-06-15
   days on market $80,000 Active 80 DOM
6. 2026-06-14
   days on market $80,000 Active 78 DOM
7. 2026-06-13
   days on market $80,000 Active 77 DOM
8. 2026-06-10
   days on market $80,000 Active 75 DOM
9. 2026-06-09
   days on market $80,000 Active 74 DOM
10. 2026-06-08
    days on market $80,000 Active 73 DOM
11. 2026-06-07
    pricedays on market $80,000 Active 72 DOM
12. 2026-06-05
    days on market $85,000 Active 69 DOM
13. 2026-06-03
    days on market $85,000 Active 68 DOM
14. 2026-06-02
    days on market $85,000 Active 67 DOM
15. 2026-06-01
    days on market $85,000 Active 66 DOM
16. 2026-05-31
    days on market $85,000 Active 65 DOM
17. 2026-05-30
    days on market $85,000 Active 64 DOM
18. 2026-05-06
    price $85,000 921-char remark

    Show marketing remark (921 chars)

    620 Gilbert Ave Kalamazoo MI 49048 4 bedroom 2 bath house for sale. -This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. -All offers must be entered through propoffers.com. -An offer management fee of $200 (plus sales tax, where applicable) is charged by Pyramid Platform in connection with the use of Propoffers.com. This fee will be paid at closing from the agent representing the buyer as selling agent or transaction broker. -Subject to seller addendum-For financed offers EMD to be 1% or $1000 whichever is greater and for cash offers EMD to be 5% or $5000 whichever is greater. -All offers are subject to OFAC clearance. -A viewing release must be signed and returned to our office before showing this property.

19. 2026-05-06
    price $85,000 921-char remark

    Show marketing remark (921 chars)

    620 Gilbert Ave Kalamazoo MI 49048 4 bedroom 2 bath house for sale. -This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. -All offers must be entered through propoffers.com. -An offer management fee of $200 (plus sales tax, where applicable) is charged by Pyramid Platform in connection with the use of Propoffers.com. This fee will be paid at closing from the agent representing the buyer as selling agent or transaction broker. -Subject to seller addendum-For financed offers EMD to be 1% or $1000 whichever is greater and for cash offers EMD to be 5% or $5000 whichever is greater. -All offers are subject to OFAC clearance. -A viewing release must be signed and returned to our office before showing this property.

20. 2026-05-06
    price $85,000

    Show marketing remark (921 chars)

    620 Gilbert Ave Kalamazoo MI 49048 4 bedroom 2 bath house for sale. -This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. -All offers must be entered through propoffers.com. -An offer management fee of $200 (plus sales tax, where applicable) is charged by Pyramid Platform in connection with the use of Propoffers.com. This fee will be paid at closing from the agent representing the buyer as selling agent or transaction broker. -Subject to seller addendum-For financed offers EMD to be 1% or $1000 whichever is greater and for cash offers EMD to be 5% or $5000 whichever is greater. -All offers are subject to OFAC clearance. -A viewing release must be signed and returned to our office before showing this property.

21. 2026-03-27
    listed $90,000 Active 921-char remark

    Show marketing remark (921 chars)

    620 Gilbert Ave Kalamazoo MI 49048 4 bedroom 2 bath house for sale. -This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. -All offers must be entered through propoffers.com. -An offer management fee of $200 (plus sales tax, where applicable) is charged by Pyramid Platform in connection with the use of Propoffers.com. This fee will be paid at closing from the agent representing the buyer as selling agent or transaction broker. -Subject to seller addendum-For financed offers EMD to be 1% or $1000 whichever is greater and for cash offers EMD to be 5% or $5000 whichever is greater. -All offers are subject to OFAC clearance. -A viewing release must be signed and returned to our office before showing this property.

22. 2026-03-27
    listed $90,000 Active 921-char remark

    Show marketing remark (921 chars)

    620 Gilbert Ave Kalamazoo MI 49048 4 bedroom 2 bath house for sale. -This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. -All offers must be entered through propoffers.com. -An offer management fee of $200 (plus sales tax, where applicable) is charged by Pyramid Platform in connection with the use of Propoffers.com. This fee will be paid at closing from the agent representing the buyer as selling agent or transaction broker. -Subject to seller addendum-For financed offers EMD to be 1% or $1000 whichever is greater and for cash offers EMD to be 5% or $5000 whichever is greater. -All offers are subject to OFAC clearance. -A viewing release must be signed and returned to our office before showing this property.

23. 2026-03-27
    listed $90,000 Active

    Show marketing remark (921 chars)

    620 Gilbert Ave Kalamazoo MI 49048 4 bedroom 2 bath house for sale. -This property is eligible under the First Look Initiative. All Owner Occupant offers will be responded to after 7 days on the market and Investor offers will be responded to after 30 days. However, all offers can be submitted during the First Look period. -All offers must be entered through propoffers.com. -An offer management fee of $200 (plus sales tax, where applicable) is charged by Pyramid Platform in connection with the use of Propoffers.com. This fee will be paid at closing from the agent representing the buyer as selling agent or transaction broker. -Subject to seller addendum-For financed offers EMD to be 1% or $1000 whichever is greater and for cash offers EMD to be 5% or $5000 whichever is greater. -All offers are subject to OFAC clearance. -A viewing release must be signed and returned to our office before showing this property.

24. 2014-10-17
    historical
25. 2014-09-15
    historical
26. 2005-11-11
    soldstatus $51,000
27. 1994-06-02
    listed $37,500
28. 1993-11-04
    listed $37,900

ⓘ 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: $1,338 · $111/mo
• Projected year-2 tax: $1,338 · $111/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $19,329
• − Mortgage interest: −$4,481
• − Property taxes: −$1,338
• − Insurance: −$400
• − Repairs & maintenance: −$1,546
• − Management: −$1,546
• − Depreciation: −$2,327
• Taxable income: $7,690
• Est. tax owed @ 24.0%: −$1,846
• After-tax cash flow: $6,652/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

+124.3% since first listed

11 events — show timeline

• 2026-05-06 Price Changed $85,000 MiRealSource-MiMLS
• 2026-05-06 Price Changed $85,000 REALCOMP
• 2026-05-06 Price Changed $85,000 SW Michigan MLS
• 2026-03-27 Listed $90,000 SW Michigan MLS
• 2026-03-27 Listed $90,000 REALCOMP
• 2026-03-27 Listed $90,000 MiRealSource-MiMLS
• 2014-10-17 Listing Removed — SW Michigan MLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2005-11-11 Sold (Public Records) $51,000 Public Records
• 1994-06-02 Listed $37,500 SW Michigan MLS
• 1993-11-04 Listed $37,900 SW Michigan MLS

Property tax history

+2.1%/yr

Latest (2025): $1,338 · +3.0% YoY. Source: county tax records.