3905 Meadow Ln · Fair Plain, MI 49085

$239,900

3 bd · 1.0 ba · 1,208 sqft · SingleFamily public records · 3 Days on market

Built 1956 1.19 ac lot Est $265k · 9% under

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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).

• Cash flow +12.8/30.0
• ARV discount +11.7/15.0
• Schools +5.1/10.0
• DSCR +3.8/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming brick ranch on over an acre offers you 3 well-sized bedrooms, 1 updated, accessible bathroom, a sunroom that could stay as a sunroom, office or mudroom, large 2 car detached garage- all nestled in desirable St. Joseph in a very quiet neighborhood-this blends timeless mid-century character with comfortable everyday living perfect for anyone! All appliances come with! Natural gas forced air and central air as wellInside, you'll find a spacious layout filled with natural light, replacement windows, and beautiful hardwood floors hidden beneath the carpet. Recent updates include a brand new accessible bathroom, a new kitchen floor, and a newer roof installed in 2021, giving peace of mind while preserving the home's classic charm. Situated on over an acre, the outdoor space offers endless possibilities for entertaining, gardening, recreation, or simply enjoying extra privacy. The detached 2-car garage provides additional storage and workspace.

Key facts

• Newer roof
• Accessible bathroom
• Sunroom

Tags

• SUNROOM
• DETACHED GARAGE
• ACCESSIBLE BATHROOM
• NEW KITCHEN FLOOR
• NEWER ROOF
• OUTDOOR SPACE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Electricity available; Natural gas connected/available
• Home design: Ranch-style single-family home; Living area approximately 1,419; Built in 1956; Composition roof
• Construction: Brick construction; Crawl space foundation
• Exterior features: Paved road access; Lot approximately 1.19 acres

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom (approximately 11.7 x 11.0); Bedroom 2 (approximately 11.0 x 10.2); Bedroom 3 (approximately 9.9 x 10.1)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Low-threshold shower; Screens and replacement windows; 7 total rooms; Crawl space basement
• Laundry & utility: Washer; Dryer; Utility room (approximately 11.1 x 9.9)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-24 ($-282/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (19.1% below list).
• Recommended offer: $194k (19.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.7% in Fair Plain — 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 64/100 on livability (#495 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools F, amenities F.
• St. Joseph Public Schools (suburban): math 53% / reading 64% proficiency, ranked #47 of 540 in MI (top 9%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-0.2%/yr); 221 active listings in the ZIP; solid renter incomes; 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 4y 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 $187k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,134 (19.1% 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. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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?
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: 0.81% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.42%
• DSCR: 0.98
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $264,552
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1234 Venus St	0.27mi	3/2.0	1,234 (+2%)	12mo	$242,000	$196	70
3910 Lincoln Ave	0.13mi	3/1.0	1,275 (+6%)	20mo	$205,000	$161	68
4387 Lincoln Ave	0.64mi	3/1.0	1,135 (-6%)	9mo	$248,500	$219	53
3833 Green Acre Dr	0.46mi	3/2.0	1,379 (+14%)	12mo	$317,000	$230	41
3656 Arbor St	0.68mi	4/1.0 (+1)	1,243 (+3%)	22mo	$249,000	$200	40
3457 Washington Ave	0.63mi	3/1.0	1,309 (+8%)	21mo	$299,000	$228	40
940 Vineland Rd	0.74mi	2/1.0 (-1)	1,056 (-13%)	8mo	$232,000	$220	33

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.31×
• Total profit: $-46,095
• Equity at exit: $35,770

10-year hold

• IRR: -21.1%
• Equity multiple: 0.04×
• Total profit: $-64,188
• Equity at exit: $20,742

Cash invested: $67,172 (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 49085

• Rents YoY: -0.2%
• Active inventory: 221
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,941 medium
• Mortgage (P&I): −$1,258
• Tax from tax record: −$199 /mo · $2,390/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-24

Break-even live

Break-even rent $1,971

Max offer price $235,743

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $239,900 Active 3 DOM
2. 2026-06-18
   days on market $239,900 Active 2 DOM
3. 2026-06-17
   days on marketlisting id $239,900 Active 1 DOM
4. 2026-06-16
   days on market $239,900 Active 26 DOM
5. 2026-06-15
   days on market $239,900 Active 25 DOM
6. 2026-06-14
   days on market $239,900 Active 23 DOM
7. 2026-06-13
   days on market $239,900 Active 22 DOM
8. 2026-06-10
   days on market $239,900 Active 20 DOM
9. 2026-06-09
   days on market $239,900 Active 19 DOM
10. 2026-06-09
    price $239,900 Active 18 DOM
11. 2026-06-08
    days on market $249,900 Active 18 DOM
12. 2026-06-07
    days on market $249,900 Active 17 DOM
13. 2026-06-03
    days on market $249,900 Active 13 DOM
14. 2026-06-02
    days on market $249,900 Active 12 DOM
15. 2026-06-01
    days on market $249,900 Active 11 DOM
16. 2026-05-31
    days on market $249,900 Active 10 DOM
17. 2026-05-30
    days on market $249,900 Active 9 DOM
18. 2026-05-21
    listed $249,900 Active

    Show marketing remark (1113 chars)

    This charming brick ranch on over an acre offers you 3 well-sized bedrooms, 1 updated, accessible bathroom, a sunroom that could stay as a sunroom, office or mudroom, large 2 car detached garage- all nestled in desirable St. Joseph in a very quiet neighborhood-this blends timeless mid-century character with comfortable everyday living perfect for anyone! All appliances come with! Natural gas forced air and central air as wellInside, you'll find a spacious layout filled with natural light, replacement windows, and beautiful hardwood floors hidden beneath the carpet. Recent updates include a brand new accessible bathroom, a new kitchen floor, and a newer roof installed in 2021, giving peace of mind while preserving the home's classic charm. Situated on over an acre, the outdoor space offers endless possibilities for entertaining, gardening, recreation, or simply enjoying extra privacy. The detached 2-car garage provides additional storage and workspace. Conveniently located near beaches, parks, schools, and downtown St. Joseph, this property offers the perfect blend of comfort, charm, and location.

19. 2026-05-21
    listed $249,900 Active 965-char remark

    Show marketing remark (1113 chars)

    This charming brick ranch on over an acre offers you 3 well-sized bedrooms, 1 updated, accessible bathroom, a sunroom that could stay as a sunroom, office or mudroom, large 2 car detached garage- all nestled in desirable St. Joseph in a very quiet neighborhood-this blends timeless mid-century character with comfortable everyday living perfect for anyone! All appliances come with! Natural gas forced air and central air as wellInside, you'll find a spacious layout filled with natural light, replacement windows, and beautiful hardwood floors hidden beneath the carpet. Recent updates include a brand new accessible bathroom, a new kitchen floor, and a newer roof installed in 2021, giving peace of mind while preserving the home's classic charm. Situated on over an acre, the outdoor space offers endless possibilities for entertaining, gardening, recreation, or simply enjoying extra privacy. The detached 2-car garage provides additional storage and workspace. Conveniently located near beaches, parks, schools, and downtown St. Joseph, this property offers the perfect blend of comfort, charm, and location.

20. 2026-05-21
    listed $249,900 Active 1113-char remark

    Show marketing remark (1113 chars)

    This charming brick ranch on over an acre offers you 3 well-sized bedrooms, 1 updated, accessible bathroom, a sunroom that could stay as a sunroom, office or mudroom, large 2 car detached garage- all nestled in desirable St. Joseph in a very quiet neighborhood-this blends timeless mid-century character with comfortable everyday living perfect for anyone! All appliances come with! Natural gas forced air and central air as wellInside, you'll find a spacious layout filled with natural light, replacement windows, and beautiful hardwood floors hidden beneath the carpet. Recent updates include a brand new accessible bathroom, a new kitchen floor, and a newer roof installed in 2021, giving peace of mind while preserving the home's classic charm. Situated on over an acre, the outdoor space offers endless possibilities for entertaining, gardening, recreation, or simply enjoying extra privacy. The detached 2-car garage provides additional storage and workspace. Conveniently located near beaches, parks, schools, and downtown St. Joseph, this property offers the perfect blend of comfort, charm, and location.

21. 2022-12-21
    soldstatus $187,000
22. 2022-11-21
    soldstatus $187,000 Sold
23. 2022-11-21
    soldstatus $187,000 Sold
24. 2022-10-07
    listed Accepting Backup Offers
25. 2022-09-19
    historical Accepting Backup Offers
26. 2022-09-19
    historical Active - Backup Offers Accepted
27. 2022-09-15
    listed $179,900 Active
28. 2022-09-15
    listed $179,900 Active
29. 2022-09-15
    listed $179,900

ⓘ 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: $2,390 · $199/mo
• Projected year-2 tax: $3,042 · $254/mo
• Expected delta: +$652/yr (+$54/mo · 27.3%)

ⓘ 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 ≥101°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,296
• − Mortgage interest: −$13,438
• − Property taxes: −$2,390
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,864
• − Management: −$1,864
• − Depreciation: −$6,979
• Taxable loss: −$4,438
• Est. tax savings @ 24.0%: +$1,065
• After-tax cash flow: $783/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: St. Joseph Public Schools
• NCES district ID: 2632850
• Math proficiency: 53% ▼ -12.00%
• Reading proficiency: 64% ▼ -8.00%
• Median HH income: $61,232
• Composite: 50.87/100
• National rank: #1795
• State rank: #47 of 540 in MI

Livability — Fair Plain

• Score: 64/100
• State rank: #495
• US rank: #14566

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Berrien County · 71,477 people
• Metro: Niles, MI
• Population (ZIP): 23,827
• Household income: $104,969
• Rent vs Own: 23.7% rent · 76.3% own
• Severe rent burden: 277.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Asian 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Iranian 4% Italian 4%
• Foreign-born: 8% · Canada, China
• Languages at home: 91% English-only · Other Indo-European 5% Spanish 1% Chinese 1%

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: ▼ -332.72%
• Current HPI: 207.2281
• Rent YoY: ▼ -0.24%
• Metro: Niles, 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

+38.9% since first listed

12 events — show timeline

• 2026-05-21 Listed $249,900 REALCOMP
• 2026-05-21 Listed $249,900 MiRealSource-MiMLS
• 2026-05-21 Listed $249,900 SW Michigan MLS
• 2022-12-21 Sold (Public Records) $187,000 Public Records
• 2022-11-21 Sold (MLS) $187,000 SW Michigan MLS
• 2022-11-21 Sold (MLS) $187,000 REALCOMP
• 2022-10-07 Listed — MiRealSource-MiMLS
• 2022-09-19 Contingent — REALCOMP
• 2022-09-19 Contingent — SW Michigan MLS
• 2022-09-15 Listed $179,900 MiRealSource-MiMLS
• 2022-09-15 Listed $179,900 SW Michigan MLS
• 2022-09-15 Listed $179,900 REALCOMP

Property tax history

+4.9%/yr

Latest (2024): $2,390 · +5.1% YoY. Source: county tax records.