29 Richards Pl · Battle Creek, MI 49015

$133,500

2 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 12 Days on market

Built 1940 5,184 sqft lot Est $144k · 7% under

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Why this score? — see what drove the C- 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 +18.7/30.0
• ARV discount +10.8/15.0
• DSCR +5.9/10.0
• Rent growth +5.0/5.0
• 1% rule +4.5/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 29 Richards Place, a delightful bungalow that seamlessly blends classic 1940s craftsmanship with modern upgrades. Offering 2 bedrooms, 1.5 bathrooms, and approximately 1,036 square feet of functional living space, this home greets you with beautiful original woodwork, timeless hardwood flooring, and exquisite built-in cabinetry separating the bright living and formal dining areas. Unwind on your cozy three-season porch, enjoy a fully fenced backyard perfect for entertaining, and take advantage of the convenience of a detached garage and central air conditioning. Located in a quiet pocket of Battle Creek, this solid, well-maintained home offers the perfect balance of historic soul and everyday modern peace of mind.

Key facts

• Hardwood flooring
• Built-in cabinetry
• Three-season porch

Tags

• ORIGINAL WOODWORK
• HARDWOOD FLOORING
• BUILT-IN CABINETRY
• THREE-SEASON PORCH
• FULLY FENCED BACKYARD
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water
• Home design: Single-family residence; Residential property; Built in 1940
• Construction: Wood siding; Shingle roof
• Exterior features: 0.12-acre lot

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 5 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $134k.

Deal economics

• At list price, monthly cash flow is $133 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $127k (4.9% below list).
• Recommended offer: $127k (4.9% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 5.2% in Battle Creek — 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 73/100 on livability (#198 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities C-, crime F.
• Lakeview School District (Calhoun) (urban): math 28% / reading 40% proficiency, ranked #291 of 540 in MI (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+11.1%/yr); 165 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $923 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Calhoun 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 + 8.0% rent growth), your $37k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 5y 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 $110k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,010 (4.9% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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?
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: 0.95% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.27%
• DSCR: 1.19
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $144,004
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
99 Winter St	0.40mi	2/1.0	964 (-7%)	2mo	$130,000	$135	68
236 Surby Ave	0.36mi	3/1.0 (+1)	1,144 (+10%)	2mo	$159,900	$140	60
409 Weeks Ave	0.51mi	3/1.0 (+1)	962 (-7%)	2mo	$179,900	$187	58
61 Harris Ave	0.74mi	2/1.0	1,000 (-4%)	3mo	$95,000	$95	57
564 Riverside Dr	0.71mi	3/1.0 (+1)	1,005 (-3%)	0mo	$180,000	$179	56
514 Iroquois Ave	0.55mi	2/1.0	1,168 (+13%)	2mo	$168,000	$144	51
21 Foster Dr	0.45mi	2/1.5	880 (-15%)	2mo	$122,000	$139	50
228 Summer St	0.65mi	3/2.0 (+1)	1,090 (+5%)	3mo	$118,750	$109	50
243 Winter St	0.71mi	3/1.0 (+1)	960 (-7%)	0mo	$97,000	$101	49
57 Seivour Ave	0.68mi	2/1.0	926 (-11%)	2mo	$22,000	$24	48
172 Riverside Dr	0.63mi	3/1.0 (+1)	1,151 (+11%)	1mo	$156,000	$136	46
109 Golden Ave	0.72mi	3/1.0 (+1)	936 (-10%)	4mo	$182,000	$194	42

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.83×
• Total profit: $-6,466
• Equity at exit: $19,905

10-year hold

• IRR: 10.1%
• Equity multiple: 1.96×
• Total profit: $35,771
• Equity at exit: $11,543

Cash invested: $37,380 (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 49015

• Rents YoY: 11.1%
• Active inventory: 165
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,270 medium
• Mortgage (P&I): −$700
• Tax from tax record: −$115 /mo · $1,377/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $133

Break-even live

Break-even rent $1,102

Max offer price $133,500

Occupancy floor 85%

Sensitivity live

Price	-10% $209	-5% $171	+0% $133	+5% $95	+10% $57
Rent	-10% $33	-5% $83	+0% $133	+5% $183	+10% $233
Rate	-1.0pp $200	-0.5pp $167	base $133	+0.5pp $98	+1.0pp $63

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: $33,375
• Closing costs: $4,005
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
226 Taft Ct Battle Creek, MI	1.0–2.0	1.0	762	$985	$1.29	44d	8	1.07mi

Listing history 9 events

1. 2026-06-15
   days on market $133,500 Active 12 DOM
2. 2026-06-14
   days on market $133,500 Active 10 DOM
3. 2026-06-13
   days on market $133,500 Active 9 DOM
4. 2026-06-10
   days on market $133,500 Active 7 DOM
5. 2026-06-09
   days on market $133,500 Active 6 DOM
6. 2026-06-08
   days on market $133,500 Active 5 DOM
7. 2026-06-07
   days on market $133,500 Active 4 DOM
8. 2026-06-05
   remarks 699-char remark
9. 2026-06-05
   listed $133,500 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: $1,377 · $115/mo
• Projected year-2 tax: $1,716 · $143/mo
• Expected delta: +$340/yr (+$28/mo · 24.7%)

ⓘ 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 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,241
• − Mortgage interest: −$7,478
• − Property taxes: −$1,377
• − Insurance: −$668
• − Repairs & maintenance: −$1,219
• − Management: −$1,219
• − Depreciation: −$3,884
• Taxable loss: −$603
• Est. tax savings @ 24.0%: +$145
• After-tax cash flow: $1,740/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: Lakeview School District (Calhoun)
• NCES district ID: 2620850
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $52,353
• Composite: 29.7/100
• National rank: #6455
• State rank: #291 of 540 in MI

Livability — Battle Creek

• Score: 73/100
• State rank: #198
• US rank: #5031

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Battle Creek, MI
• County: Calhoun County · 91,590 people
• City population: 91,590
• Metro: Battle Creek, MI
• Population (ZIP): 27,765
• Household income: $68,821
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 755.0

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 130,157 people
• By 2030: 126,691 · -2.7%
• By 2040: 118,517 · -8.9%
• By 2050: 109,855 · -15.6%
• By 2075: 90,486 · -30.5%
• By 2100: 70,766 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Two or more races 11% Hispanic / Latino 7% Asian 7% Black 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Iranian 4% Lithuanian 4% Romanian 3%
• Foreign-born: 10% · Philippines, Canada
• Languages at home: 86% English-only · Other Asian/Pacific 7% Spanish 4% Other Indo-European 1%

Political lean MEDSL · Calhoun

• 2024 margin: R (+14.1) · D 42.3% · R 56.4% · Other 1.3%
• 2008→2024 swing: -23.4pp toward R · 2008: 9.4pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+11.1 2016: R+12.5 2012: D+1.6 2008: D+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -116.20%
• Current HPI: 206.7754
• Rent YoY: ▲ 11.13%
• Metro: Battle Creek, 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

+85.4% since first listed

27 events — show timeline

• 2026-06-03 Listed $133,500 REALCOMP
• 2026-06-03 Listed $133,500 SW Michigan MLS
• 2026-06-03 Listed $133,500 MiRealSource-MiMLS
• 2025-07-30 Sold (Public Records) $110,000 Public Records
• 2025-07-25 Sold (MLS) $110,000 SW Michigan MLS
• 2025-07-25 Sold (MLS) $110,000 MiRealSource-MiMLS
• 2025-07-25 Sold (MLS) $110,000 REALCOMP
• 2025-07-17 Pending — REALCOMP
• 2025-07-17 Pending — MiRealSource-MiMLS
• 2025-07-17 Pending — SW Michigan MLS
• 2025-07-08 Listed $120,000 REALCOMP
• 2025-07-08 Listed $120,000 MiRealSource-MiMLS
• 2025-07-08 Listed $120,000 SW Michigan MLS
• 2025-07-05 Coming Soon $120,000 MiRealSource-MiMLS
• 2025-07-05 Coming Soon $120,000 SW Michigan MLS
• 2025-07-05 Listed $120,000 REALCOMP
• 2025-07-05 Listed $120,000 MiRealSource-MiMLS
• 2025-07-05 Listing Removed — MiRealSource-MiMLS
• 2025-07-05 Listing Removed — REALCOMP
• 2021-03-02 Sold (Public Records) $75,000 Public Records
• 2021-02-25 Sold (MLS) $75,000 SW Michigan MLS
• 2021-02-25 Sold (MLS) $75,000 REALCOMP
• 2021-01-23 Pending — REALCOMP
• 2021-01-23 Pending — SW Michigan MLS
• 2021-01-21 Listed $72,000 MiRealSource-MiMLS
• 2021-01-21 Listed $72,000 SW Michigan MLS
• 2021-01-21 Listed $72,000 REALCOMP

Property tax history

+2.5%/yr

Latest (2025): $1,377 · -26.6% YoY. Source: county tax records.