925 Forest Park Ave · Watervliet, MI 49098

$160,000

3 bd · 1.0 ba · 1,316 sqft · SingleFamily public records · 8 Days on market

Built 1950 7,000 sqft lot Est $247k · 35% under

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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 +28.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Ranch Home in Watervliet!Welcome to this cozy and inviting 3-bedroom, 1-bathroom ranch nestled in the heart of Watervliet. Perfect for first-time buyers, downsizers, or anyone looking for easy single-level living, this home offers comfort, convenience, and great outdoor space. Outside, you'll love the fully fenced-in yard--perfect for pets, play, or simply enjoying your own private outdoor retreat. Relax or entertain on the deck, and unwind year-round in the hot tub--your own personal oasis right at home. Located in a quiet neighborhood with easy access to local amenities, this home combines small-town charm with practical living. Don't miss your chance to make this Watervliet gem your own!

Key facts

• Fully fenced-in yard
• Hot tub
• Deck

Tags

• FULLY FENCED-IN YARD
• PRIVATE OUTDOOR RETREAT
• DECK
• HOT TUB
• QUIET NEIGHBORHOOD
• EASY ACCESS TO LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 10.1% vs local median 4.2% in Watervliet — 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 70/100 on livability (#295 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: employment C-, schools D+, crime D+.
• Watervliet School District (town): math 31% / reading 43% proficiency, ranked #260 of 540 in MI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 82 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 397 units permitted in Berrien County in 2024 (40 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.
• Berrien 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 + 3.0% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 31y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,000

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D 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: 1.24% ✓
• Cap rate: 10.07%
• Cash-on-cash: 13.48%
• DSCR: 1.60
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $247,408
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
925 Forest Park Ave	0.00mi	3/1.0	1,316 (0%)	1mo	$156,000	$119	99
314 Riverside Dr	0.16mi	3/1.0	1,450 (+10%)	8mo	$215,000	$148	69
234 W Pleasant St	0.57mi	3/1.0	1,284 (-2%)	2mo	$192,500	$150	68
4979 Park Dr	0.38mi	2/2.0 (-1)	1,290 (-2%)	15mo	$242,500	$188	58
363 Riverside Dr	0.22mi	3/1.0	1,120 (-15%)	14mo	$210,000	$188	54
8137 Forest Beach Rd	0.29mi	2/2.0 (-1)	1,478 (+12%)	7mo	$65,500	$44	51
8207 Pokagon Rd	0.45mi	3/3.0	1,460 (+11%)	2mo	$649,000	$445	50
7840 Forest Beach Rd	0.40mi	2/1.0 (-1)	1,152 (-12%)	8mo	$248,370	$216	49
8039 Shore Ln	0.44mi	4/1.5 (+1)	1,462 (+11%)	11mo	$440,000	$301	45
311 Lewis St	0.73mi	3/1.0	1,464 (+11%)	2mo	$190,000	$130	45
404 W Saint Joseph St	0.71mi	3/1.0	1,204 (-8%)	10mo	$65,000	$54	44
1024 Western Ave	0.44mi	3/2.0	1,120 (-15%)	13mo	$318,500	$284	40

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: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,940
• Equity at exit: $23,857

10-year hold

• IRR: 10.8%
• Equity multiple: 1.84×
• Total profit: $37,708
• Equity at exit: $13,834

Cash invested: $44,800 (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 49098

• Active inventory: 82
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,991 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$164 /mo · $1,971/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $437

Break-even live

Break-even rent $1,439

Max offer price $160,000

Occupancy floor 73%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4020 Sumner Dr Watervliet, MI	4.0	2.0	1750	$2,395	$1.37	43d	1	0.93mi
3882 Watertown Dr Watervliet, MI	4.0	2.0	1750	$2,195	$1.25	43d	1	1.07mi
7604 Red Arrow Hwy Watervliet, MI	2.0–3.0	2.0	1078	$1,319	$1.22	43d	1	1.17mi

Listing history 29 events

1. 2026-04-01
   status Pending 708-char remark

   Show marketing remark (708 chars)

   Charming Ranch Home in Watervliet!Welcome to this cozy and inviting 3-bedroom, 1-bathroom ranch nestled in the heart of Watervliet. Perfect for first-time buyers, downsizers, or anyone looking for easy single-level living, this home offers comfort, convenience, and great outdoor space. Outside, you'll love the fully fenced-in yard--perfect for pets, play, or simply enjoying your own private outdoor retreat. Relax or entertain on the deck, and unwind year-round in the hot tub--your own personal oasis right at home. Located in a quiet neighborhood with easy access to local amenities, this home combines small-town charm with practical living. Don't miss your chance to make this Watervliet gem your own!

2. 2026-04-01
   status Pending 708-char remark

   Show marketing remark (708 chars)

   Charming Ranch Home in Watervliet!Welcome to this cozy and inviting 3-bedroom, 1-bathroom ranch nestled in the heart of Watervliet. Perfect for first-time buyers, downsizers, or anyone looking for easy single-level living, this home offers comfort, convenience, and great outdoor space. Outside, you'll love the fully fenced-in yard--perfect for pets, play, or simply enjoying your own private outdoor retreat. Relax or entertain on the deck, and unwind year-round in the hot tub--your own personal oasis right at home. Located in a quiet neighborhood with easy access to local amenities, this home combines small-town charm with practical living. Don't miss your chance to make this Watervliet gem your own!

3. 2026-04-01
   status Pending

   Show marketing remark (708 chars)

   Charming Ranch Home in Watervliet!Welcome to this cozy and inviting 3-bedroom, 1-bathroom ranch nestled in the heart of Watervliet. Perfect for first-time buyers, downsizers, or anyone looking for easy single-level living, this home offers comfort, convenience, and great outdoor space. Outside, you'll love the fully fenced-in yard--perfect for pets, play, or simply enjoying your own private outdoor retreat. Relax or entertain on the deck, and unwind year-round in the hot tub--your own personal oasis right at home. Located in a quiet neighborhood with easy access to local amenities, this home combines small-town charm with practical living. Don't miss your chance to make this Watervliet gem your own!

4. 2026-03-24
   listed $160,000 Active 708-char remark

   Show marketing remark (708 chars)

   Charming Ranch Home in Watervliet!Welcome to this cozy and inviting 3-bedroom, 1-bathroom ranch nestled in the heart of Watervliet. Perfect for first-time buyers, downsizers, or anyone looking for easy single-level living, this home offers comfort, convenience, and great outdoor space. Outside, you'll love the fully fenced-in yard--perfect for pets, play, or simply enjoying your own private outdoor retreat. Relax or entertain on the deck, and unwind year-round in the hot tub--your own personal oasis right at home. Located in a quiet neighborhood with easy access to local amenities, this home combines small-town charm with practical living. Don't miss your chance to make this Watervliet gem your own!

5. 2026-03-24
   listed $160,000 Active 708-char remark

   Show marketing remark (708 chars)

   Charming Ranch Home in Watervliet!Welcome to this cozy and inviting 3-bedroom, 1-bathroom ranch nestled in the heart of Watervliet. Perfect for first-time buyers, downsizers, or anyone looking for easy single-level living, this home offers comfort, convenience, and great outdoor space. Outside, you'll love the fully fenced-in yard--perfect for pets, play, or simply enjoying your own private outdoor retreat. Relax or entertain on the deck, and unwind year-round in the hot tub--your own personal oasis right at home. Located in a quiet neighborhood with easy access to local amenities, this home combines small-town charm with practical living. Don't miss your chance to make this Watervliet gem your own!

6. 2026-03-24
   listed $160,000 Active

   Show marketing remark (708 chars)

   Charming Ranch Home in Watervliet!Welcome to this cozy and inviting 3-bedroom, 1-bathroom ranch nestled in the heart of Watervliet. Perfect for first-time buyers, downsizers, or anyone looking for easy single-level living, this home offers comfort, convenience, and great outdoor space. Outside, you'll love the fully fenced-in yard--perfect for pets, play, or simply enjoying your own private outdoor retreat. Relax or entertain on the deck, and unwind year-round in the hot tub--your own personal oasis right at home. Located in a quiet neighborhood with easy access to local amenities, this home combines small-town charm with practical living. Don't miss your chance to make this Watervliet gem your own!

7. 2022-10-06
   soldstatus $143,500
8. 2022-09-30
   soldstatus $143,500 Sold
9. 2022-09-30
   soldstatus $143,500 Sold
10. 2022-09-02
    status Pending
11. 2022-08-10
    status Pending
12. 2022-08-10
    status Pending
13. 2022-08-07
    listed $135,000 Active
14. 2022-08-07
    listed $135,000 Active
15. 2022-08-07
    listed $135,000
16. 2008-11-03
    soldstatus $29,900
17. 2008-11-03
    soldstatus $29,900
18. 2008-09-17
    listed $29,900
19. 2008-09-17
    listed $29,900
20. 2008-09-03
    historical
21. 2008-09-03
    historical
22. 2008-05-19
    listed $34,900
23. 2008-05-19
    listed $34,900
24. 2000-02-04
    listed $36,000
25. 2000-02-04
    listed $36,000
26. 1995-12-08
    soldstatus $46,500
27. 1995-12-08
    soldstatus $46,500
28. 1995-05-31
    listed $49,500
29. 1995-05-31
    listed $49,500

ⓘ 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: $1,971 · $164/mo
• Projected year-2 tax: $2,217 · $185/mo
• Expected delta: +$247/yr (+$21/mo · 12.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,896
• − Mortgage interest: −$8,962
• − Property taxes: −$1,971
• − Insurance: −$1,598
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − Depreciation: −$4,655
• Taxable income: $2,888
• Est. tax owed @ 24.0%: −$693
• After-tax cash flow: $4,548/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: Watervliet School District
• NCES district ID: 2635460
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 43% ▼ -1.00%
• Median HH income: $42,249
• Composite: 31.22/100
• National rank: #6034
• State rank: #260 of 540 in MI

Livability — Watervliet

• Score: 70/100
• State rank: #295
• US rank: #7373

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Watervliet, MI
• Population (ZIP): 5,791

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Hispanic / Latino 9% Black 5% Two or more races 3% Asian 1%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Iranian 7% Romanian 4% Slovak 2%
• Foreign-born: 3% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 3% French/Haitian/Cajun 0%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -223.00%
• Current HPI: 208.2105
• 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

+223.2% since first listed

29 events — show timeline

• 2026-04-01 Pending — REALCOMP
• 2026-04-01 Pending — MiRealSource-MiMLS
• 2026-04-01 Pending — SW Michigan MLS
• 2026-03-24 Listed $160,000 REALCOMP
• 2026-03-24 Listed $160,000 SW Michigan MLS
• 2026-03-24 Listed $160,000 MiRealSource-MiMLS
• 2022-10-06 Sold (Public Records) $143,500 Public Records
• 2022-09-30 Sold (MLS) $143,500 SW Michigan MLS
• 2022-09-30 Sold (MLS) $143,500 REALCOMP
• 2022-09-02 Pending — SW Michigan MLS
• 2022-08-10 Pending — SW Michigan MLS
• 2022-08-10 Pending — REALCOMP
• 2022-08-07 Listed $135,000 MiRealSource-MiMLS
• 2022-08-07 Listed $135,000 SW Michigan MLS
• 2022-08-07 Listed $135,000 REALCOMP
• 2008-11-03 Sold (MLS) $29,900 REALCOMP
• 2008-11-03 Sold (MLS) $29,900 SW Michigan MLS
• 2008-09-17 Listed $29,900 REALCOMP
• 2008-09-17 Listed $29,900 SW Michigan MLS
• 2008-09-03 Listing Removed — REALCOMP
• 2008-09-03 Listing Removed — SW Michigan MLS
• 2008-05-19 Listed $34,900 REALCOMP
• 2008-05-19 Listed $34,900 SW Michigan MLS
• 2000-02-04 Listed $36,000 SW Michigan MLS
• 2000-02-04 Listed $36,000 REALCOMP
• 1995-12-08 Sold (MLS) $46,500 REALCOMP
• 1995-12-08 Sold (MLS) $46,500 SW Michigan MLS
• 1995-05-31 Listed $49,500 REALCOMP
• 1995-05-31 Listed $49,500 SW Michigan MLS

Property tax history

+10.1%/yr

Latest (2024): $1,971 · +3.6% YoY. Source: county tax records.