77 Eldred St · Battle Creek, MI 49015

$64,000

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 117 Days on market

Built 1920 4,574 sqft lot $86/sqft · 49% below area Est $124k · 49% under ↓ 1% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this charming two bedroom home, a perfect canvas for your personal touch! This home fetures a full basement with potential for expanded living or storage. While its just a bit of paint needed to refresh its charm the homes inherent potential is undeniable. Call David Censke for viewings269.209.3529

Key facts

• Storage
• Full basement
• Expanded living

Tags

• FULL BASEMENT
• EXPANDED LIVING
• STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $489 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $58k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.5% 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.
• Battle Creek Public Schools (urban): math 8% / reading 19% proficiency, ranked #510 of 540 in MI (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+11.1%/yr); 165 active listings in the ZIP; 2 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 $442 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 21y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,240 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 1.81% ✓
• Cap rate: 15.46%
• Cash-on-cash: 32.74%
• DSCR: 2.46
• GRM: 4.6

CMA / ARV

• ARV (median comp): $124,479
• List price: $64,000
• Delta: -48.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
268 Battle Creek Ave	0.35mi	2/1.0	774 (+4%)	6mo	$79,000	$102	73
324 Goguac St W	0.38mi	2/1.0	720 (-4%)	9mo	$65,000	$90	69
539 Iroquois Ave	0.63mi	2/1.0	728 (-3%)	2mo	$155,000	$213	64
136 Wiltshire Ave	0.64mi	2/1.0	720 (-4%)	1mo	$165,000	$229	63
236 W Burnham St	0.28mi	2/1.0	829 (+11%)	7mo	$110,000	$133	63
171 Goguac St W	0.26mi	2/1.0	834 (+12%)	8mo	$69,500	$83	62
100 Wiltshire Ave	0.61mi	3/1.0 (+1)	721 (-4%)	2mo	$118,500	$164	59
345 Orleans Ave	0.43mi	2/1.0	840 (+12%)	2mo	$149,000	$177	58
105 N Woodrow Ave	0.74mi	2/1.0	720 (-4%)	3mo	$143,000	$199	57
97 Carl Ave	0.67mi	2/1.0	720 (-4%)	9mo	$139,900	$194	55
112 Wiltshire Ave	0.62mi	2/1.0	660 (-12%)	2mo	$149,900	$227	50
133 Harris St	0.47mi	3/1.0 (+1)	651 (-13%)	7mo	$22,000	$34	46

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: 33.3%
• Equity multiple: 2.50×
• Total profit: $26,894
• Equity at exit: $9,543

10-year hold

• IRR: 42.9%
• Equity multiple: 6.10×
• Total profit: $91,400
• Equity at exit: $5,534

Cash invested: $17,920 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$64 /mo · $765/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $489

Break-even live

Break-even rent $539

Max offer price $64,000

Occupancy floor 53%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
130 Riverside Dr Battle Creek, MI	1.0	1.0	650	$935	$1.44	44d	1	0.71mi
226 Taft Ct Battle Creek, MI	1.0–2.0	1.0	762	$985	$1.29	44d	8	1.34mi

Listing history 29 events

1. 2026-06-08
   days on market $64,000 Active 117 DOM
2. 2026-06-07
   days on market $64,000 Active 116 DOM
3. 2026-06-05
   days on market $64,000 Active 113 DOM
4. 2026-06-02
   days on market $64,000 Active 111 DOM
5. 2026-06-01
   days on market $64,000 Active 110 DOM
6. 2026-05-31
   days on market $64,000 Active 109 DOM
7. 2026-05-30
   days on market $64,000 Active 108 DOM
8. 2026-05-05
   price $64,000 309-char remark

   Show marketing remark (309 chars)

   Step into this charming two bedroom home, a perfect canvas for your personal touch! This home fetures a full basement with potential for expanded living or storage. While its just a bit of paint needed to refresh its charm the homes inherent potential is undeniable. Call David Censke for viewings269.209.3529

9. 2026-05-04
   price $64,000 309-char remark

   Show marketing remark (309 chars)

   Step into this charming two bedroom home, a perfect canvas for your personal touch! This home fetures a full basement with potential for expanded living or storage. While its just a bit of paint needed to refresh its charm the homes inherent potential is undeniable. Call David Censke for viewings269.209.3529

10. 2026-05-04
    price $64,000

    Show marketing remark (309 chars)

    Step into this charming two bedroom home, a perfect canvas for your personal touch! This home fetures a full basement with potential for expanded living or storage. While its just a bit of paint needed to refresh its charm the homes inherent potential is undeniable. Call David Censke for viewings269.209.3529

11. 2026-02-11
    listed $69,000 Active 309-char remark

    Show marketing remark (309 chars)

    Step into this charming two bedroom home, a perfect canvas for your personal touch! This home fetures a full basement with potential for expanded living or storage. While its just a bit of paint needed to refresh its charm the homes inherent potential is undeniable. Call David Censke for viewings269.209.3529

12. 2026-02-09
    listed $69,000 Active 309-char remark

    Show marketing remark (309 chars)

    Step into this charming two bedroom home, a perfect canvas for your personal touch! This home fetures a full basement with potential for expanded living or storage. While its just a bit of paint needed to refresh its charm the homes inherent potential is undeniable. Call David Censke for viewings269.209.3529

13. 2026-02-09
    listed $69,000 Active

    Show marketing remark (309 chars)

    Step into this charming two bedroom home, a perfect canvas for your personal touch! This home fetures a full basement with potential for expanded living or storage. While its just a bit of paint needed to refresh its charm the homes inherent potential is undeniable. Call David Censke for viewings269.209.3529

14. 2019-10-19
    historical
15. 2019-08-20
    historical
16. 2019-08-20
    listed $649,999
17. 2019-08-20
    historical
18. 2019-08-20
    historical
19. 2019-04-16
    listed $650,000
20. 2019-04-16
    listed $650,000 Active
21. 2019-04-16
    listed $650,000
22. 2008-03-13
    historical
23. 2008-03-13
    historical
24. 2007-08-16
    listed $54,900
25. 2007-08-16
    listed $54,900
26. 2005-09-12
    historical
27. 2005-09-12
    historical
28. 2005-08-15
    listed $64,900
29. 2005-08-15
    listed $64,900

ⓘ 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: $765 · $64/mo
• Projected year-2 tax: $875 · $73/mo
• Expected delta: +$110/yr (+$9/mo · 14.4%)

ⓘ 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 ≥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: $13,897
• − Mortgage interest: −$3,585
• − Property taxes: −$765
• − Insurance: −$320
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$1,862
• Taxable income: $5,142
• Est. tax owed @ 24.0%: −$1,234
• After-tax cash flow: $4,632/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: Battle Creek Public Schools
• NCES district ID: 2600005
• Math proficiency: 8% ▼ -2.00%
• Reading proficiency: 19% ▬ 0.00%
• Median HH income: $31,697
• Composite: 10.73/100
• National rank: #9769
• State rank: #510 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

-1.4% since first listed

22 events — show timeline

• 2026-05-05 Price Changed $64,000 MiRealSource-MiMLS
• 2026-05-04 Price Changed $64,000 REALCOMP
• 2026-05-04 Price Changed $64,000 SW Michigan MLS
• 2026-02-11 Listed $69,000 REALCOMP
• 2026-02-09 Listed $69,000 SW Michigan MLS
• 2026-02-09 Listed $69,000 MiRealSource-MiMLS
• 2019-10-19 Listing Removed — MiRealSource-MiMLS
• 2019-08-20 Listing Removed — MiRealSource-MiMLS
• 2019-08-20 Listing Removed — SW Michigan MLS
• 2019-08-20 Listed $649,999 MiRealSource-MiMLS
• 2019-08-20 Listing Removed — REALCOMP
• 2019-04-16 Listed $650,000 MiRealSource-MiMLS
• 2019-04-16 Listed $650,000 SW Michigan MLS
• 2019-04-16 Listed $650,000 REALCOMP
• 2008-03-13 Listing Removed — SW Michigan MLS
• 2008-03-13 Listing Removed — REALCOMP
• 2007-08-16 Listed $54,900 SW Michigan MLS
• 2007-08-16 Listed $54,900 REALCOMP
• 2005-09-12 Listing Removed — SW Michigan MLS
• 2005-09-12 Listing Removed — REALCOMP
• 2005-08-15 Listed $64,900 SW Michigan MLS
• 2005-08-15 Listed $64,900 REALCOMP

Property tax history

-4.1%/yr

Latest (2025): $765 · -31.2% YoY. Source: county tax records.