805 W Vine St · Kalamazoo, MI 49008

$180,000

3 bd · 2.0 ba · 2,006 sqft · SingleFamily public records · 35 Days on market

Built 1908 6,534 sqft lot Est $213k · 15% under

---

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).

• ARV discount +14.4/15.0
• Cash flow +12.6/30.0
• Schools +4.7/10.0
• 1% rule +3.9/10.0
• DSCR +3.8/10.0
• Livability +3.8/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the heart of the desirable Vine Neighborhood, this fantastic duplex is an incredible opportunity for investors or owner-occupants alike! Just minutes from Western Michigan University and vibrant downtown Kalamazoo, this property offers strong rental potential in a prime location. Each unit features 2 bedrooms and 1 bathroom with separate entrances and private laundry, making it ideal for tenants or multi-generational living. The lower unit includes a new furnace, newer water heater, and newer washer, while the upper unit boasts new flooring in the bedroom and bathroom along with a beautifully updated shower. A new roof adds peace of mind for years to come. One of the standout features is the ample off-street parking -- a rare find in the Vine area! Enjoy relaxing on the inviting front porch and take advantage of all the nearby restaurants, shops, parks, and entertainment downtown Kalamazoo has to offer.

Key facts

• New furnace
• Private laundry
• Vine neighborhood

Tags

• VINE NEIGHBORHOOD
• STRONG RENTAL POTENTIAL
• SEPARATE ENTRANCES
• PRIVATE LAUNDRY
• NEW FURNACE
• NEWER WATER HEATER

Property features AI

Exterior

• Parking: 5 paved parking spaces
• Utilities: Public water; Public sewer / sewer available; Electricity connected; Natural gas connected
• Home design: Residential income property; Multi-family; Two-unit building (upper and lower units)
• Construction: Aluminum siding; Composition roof; Built as multi-family (year built not provided)
• Exterior features: Paved road access; Public maintained road

Interior

• Bedrooms: Lower unit: 2 bedrooms; Upper unit: 2 bedrooms
• Bathrooms: Lower unit: 1 bathroom; Upper unit: 1 bathroom
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Full basement; Sidewalks (community)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-21 ($-257/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (11.3% below list).
• Recommended offer: $160k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.1% 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 (+2.4%/yr); 116 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 339 units permitted in Kalamazoo County in 2024 (22 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 $5k 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.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 36y 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 $105k; list at $180k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,631 (11.3% 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. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
3. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.51%
• DSCR: 0.98
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $212,636
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
442 W Dutton St	0.26mi	4/2.0 (+1)	1,928 (-4%)	2mo	$249,900	$130	75
955 Austin St	0.20mi	3/1.0	1,967 (-2%)	14mo	$144,000	$73	71
306 W Dutton St	0.40mi	3/2.0	1,864 (-7%)	4mo	$105,000	$56	66
435 Skirrow Pl	0.36mi	3/1.0	2,088 (+4%)	7mo	$149,900	$72	66
431 Park Pl	0.36mi	4/2.0 (+1)	1,930 (-4%)	14mo	$240,000	$124	60
1112 Merrill St	0.25mi	3/1.0	2,162 (+8%)	15mo	$228,500	$106	59
301 Wall St	0.44mi	3/2.0	1,840 (-8%)	18mo	$227,000	$123	50
1209 Grand Ave	0.69mi	4/2.5 (+1)	2,086 (+4%)	8mo	$324,000	$155	48
1414 Low Rd	0.47mi	3/2.0	2,304 (+15%)	16mo	$304,500	$132	39
601 S Park St	0.38mi	4/1.5 (+1)	1,746 (-13%)	18mo	$122,500	$70	39
204 Elm Pl	0.58mi	4/2.5 (+1)	1,832 (-9%)	21mo	$138,000	$75	34
628 W Kalamazoo Ave	0.74mi	4/1.5 (+1)	2,220 (+11%)	16mo	$126,500	$57	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 · 2.41% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.38×
• Total profit: $-31,427
• Equity at exit: $26,839

10-year hold

• IRR: -11.1%
• Equity multiple: 0.35×
• Total profit: $-32,750
• Equity at exit: $15,563

Cash invested: $50,400 (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 49008

• Rents YoY: 2.4%
• Active inventory: 116
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,596 high
• Mortgage (P&I): −$944
• Tax from tax record: −$264 /mo · $3,163/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-21

Break-even live

Break-even rent $1,623

Max offer price $176,213

Occupancy floor 96%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$2,345	$2.15	13d	12	0.17mi
211 Rose Pl Kalamazoo, MI	2.0	2.0	1695	$1,200	$0.71	21d	1	0.45mi
838 W Main St Kalamazoo, MI	4.0	1.0	1470	$1,300	$0.88	21d	1	0.56mi
525 S Burdick St Kalamazoo, MI	2.0	2.0	1555	$2,928	$1.88	13d	2	0.62mi
232 Woodward Ave Unit 5 Kalamazoo, MI	2.0	1.0	1400	$999	$0.71	13d	1	0.65mi
722 W Kalamazoo Ave Unit 2 Kalamazoo, MI	3.0	1.0	1800	$1,600	$0.89	21d	1	0.73mi
125 S Kalamazoo Mall Kalamazoo, MI	2.0	2.0	1833	$3,088	$1.68	13d	1	0.75mi

Listing history 30 events

1. 2026-06-18
   days on market $180,000 Active 35 DOM
2. 2026-06-17
   days on market $180,000 Active 34 DOM
3. 2026-06-16
   days on market $180,000 Active 33 DOM
4. 2026-06-15
   days on market $180,000 Active 32 DOM
5. 2026-06-14
   days on market $180,000 Active 30 DOM
6. 2026-06-13
   days on market $180,000 Active 29 DOM
7. 2026-06-10
   days on market $180,000 Active 27 DOM
8. 2026-06-09
   days on market $180,000 Active 26 DOM
9. 2026-06-08
   days on market $180,000 Active 25 DOM
10. 2026-06-07
    days on market $180,000 Active 24 DOM
11. 2026-06-05
    days on market $180,000 Active 21 DOM
12. 2026-06-03
    days on market $180,000 Active 20 DOM
13. 2026-06-02
    days on market $180,000 Active 19 DOM
14. 2026-06-01
    days on market $180,000 Active 18 DOM
15. 2026-05-31
    days on market $180,000 Active 17 DOM
16. 2026-05-30
    days on market $180,000 Active 16 DOM
17. 2026-05-14
    listed $180,000 Active 927-char remark

    Show marketing remark (927 chars)

    Located in the heart of the desirable Vine Neighborhood, this fantastic duplex is an incredible opportunity for investors or owner-occupants alike! Just minutes from Western Michigan University and vibrant downtown Kalamazoo, this property offers strong rental potential in a prime location. Each unit features 2 bedrooms and 1 bathroom with separate entrances and private laundry, making it ideal for tenants or multi-generational living. The lower unit includes a new furnace, newer water heater, and newer washer, while the upper unit boasts new flooring in the bedroom and bathroom along with a beautifully updated shower. A new roof adds peace of mind for years to come. One of the standout features is the ample off-street parking -- a rare find in the Vine area! Enjoy relaxing on the inviting front porch and take advantage of all the nearby restaurants, shops, parks, and entertainment downtown Kalamazoo has to offer.

18. 2026-05-14
    listed $180,000 Active

    Show marketing remark (927 chars)

    Located in the heart of the desirable Vine Neighborhood, this fantastic duplex is an incredible opportunity for investors or owner-occupants alike! Just minutes from Western Michigan University and vibrant downtown Kalamazoo, this property offers strong rental potential in a prime location. Each unit features 2 bedrooms and 1 bathroom with separate entrances and private laundry, making it ideal for tenants or multi-generational living. The lower unit includes a new furnace, newer water heater, and newer washer, while the upper unit boasts new flooring in the bedroom and bathroom along with a beautifully updated shower. A new roof adds peace of mind for years to come. One of the standout features is the ample off-street parking -- a rare find in the Vine area! Enjoy relaxing on the inviting front porch and take advantage of all the nearby restaurants, shops, parks, and entertainment downtown Kalamazoo has to offer.

19. 2018-03-07
    soldstatus $105,000
20. 2018-02-26
    soldstatus $105,000
21. 2018-02-26
    soldstatus $105,000 Sold
22. 2018-02-22
    historical
23. 2018-02-22
    listed $105,000
24. 2018-02-22
    listed $105,000
25. 2011-05-06
    soldstatus $37,250
26. 2011-04-07
    listed $37,250
27. 2004-11-12
    historical
28. 2004-07-27
    listed $115,000
29. 1990-07-16
    historical
30. 1990-03-26
    listed $32,900

ⓘ 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: $3,163 · $264/mo
• Projected year-2 tax: $3,163 · $264/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: $19,156
• − Mortgage interest: −$10,083
• − Property taxes: −$3,163
• − Insurance: −$900
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − Depreciation: −$5,236
• Taxable loss: −$3,291
• Est. tax savings @ 24.0%: +$790
• After-tax cash flow: $533/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): 16,137
• Household income: $74,943
• Rent vs Own: 33.8% rent · 66.2% own
• Severe rent burden: 513.0

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 (75%)
• Race & ethnicity: White 75% Black 12% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Iranian 5% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -170.52%
• Current HPI: 230.6876
• Rent YoY: ▲ 2.41%
• 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

+447.1% since first listed

14 events — show timeline

• 2026-05-14 Listed $180,000 REALCOMP
• 2026-05-14 Listed $180,000 MiRealSource-MiMLS
• 2018-03-07 Sold (Public Records) $105,000 Public Records
• 2018-02-26 Sold (MLS) $105,000 SW Michigan MLS
• 2018-02-26 Sold (MLS) $105,000 REALCOMP
• 2018-02-22 Listing Removed — SW Michigan MLS
• 2018-02-22 Listed $105,000 SW Michigan MLS
• 2018-02-22 Listed $105,000 REALCOMP
• 2011-05-06 Sold (MLS) $37,250 SW Michigan MLS
• 2011-04-07 Listed $37,250 SW Michigan MLS
• 2004-11-12 Listing Removed — SW Michigan MLS
• 2004-07-27 Listed $115,000 SW Michigan MLS
• 1990-07-16 Listing Removed — SW Michigan MLS
• 1990-03-26 Listed $32,900 SW Michigan MLS

Property tax history

+3.8%/yr

Latest (2025): $3,163 · +3.0% YoY. Source: county tax records.