168 Graves Ave · Battle Creek, MI 49037

$89,000

3 bd · 2.0 ba · 1,260 sqft · SingleFamily public records · 30 Days on market

Built 1920 0.37 ac lot Est $136k · 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 +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

Don't miss this opportunity! Keep this a rental or give it a little love and call it your own. Nice well-built 3-bedroom 2 bath home, looking for an owner. .. Call David Censke for your viewings 269.209.3529

Key facts

• 0.37 acre lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.8% 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 (+11.8%/yr); 236 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• This rent runs 37% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 24y 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 $15k; list at $89k implies a 493% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $87,665 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — 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: 1.50% ✓
• Cap rate: 12.77%
• Cash-on-cash: 23.13%
• DSCR: 2.03
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $136,080
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
527 Jackson St W	0.44mi	3/1.0	1,244 (-1%)	12mo	$60,500	$49	63
245 Graves Ave	0.17mi	3/1.0	1,152 (-9%)	13mo	$132,000	$115	63
69 Jordan St	0.21mi	3/1.0	1,078 (-14%)	6mo	$83,000	$77	57
244 Parkway Dr	0.69mi	3/2.0	1,308 (+4%)	22mo	$125,000	$96	43
41 Avenue B	0.73mi	2/1.0 (-1)	1,362 (+8%)	2mo	$147,000	$108	41
111 Greenwood Ave	0.58mi	3/1.5	1,440 (+14%)	14mo	$184,500	$128	36
254 Howland St	0.71mi	2/1.5 (-1)	1,142 (-9%)	21mo	$97,000	$85	27
227 Oneita St	0.70mi	2/1.0 (-1)	1,092 (-13%)	13mo	$146,000	$134	26
91 Bowen Ave	0.61mi	2/1.5 (-1)	1,100 (-13%)	24mo	$130,000	$118	24

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: 21.5%
• Equity multiple: 1.93×
• Total profit: $23,200
• Equity at exit: $13,270

10-year hold

• IRR: 32.6%
• Equity multiple: 4.67×
• Total profit: $91,579
• Equity at exit: $7,695

Cash invested: $24,920 (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 49037

• Home prices YoY: -29.0%
• Rents YoY: 11.8%
• Active inventory: 236
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,331 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$67 /mo · $805/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $480

Break-even live

Break-even rent $723

Max offer price $89,000

Occupancy floor 59%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 Arbor Pointe Dr Battle Creek, MI	1.0–2.0	1.0	820	$1,140	$1.39	13d	6	0.60mi
449 24th St N Springfield, MI	3.0	1.5	1227	$1,550	$1.26	44d	1	1.05mi
115 West St Battle Creek, MI	2.0–3.0	1.0–2.0	1090	$1,500	$1.38	44d	3	1.19mi
54 Springview Dr Battle Creek, MI	1.0–3.0	1.0–2.0	900	$1,050	$1.17	21d	3	1.32mi

Listing history 24 events

1. 2026-04-09
   status Pending 207-char remark

   Show marketing remark (207 chars)

   Don't miss this opportunity! Keep this a rental or give it a little love and call it your own. Nice well-built 3-bedroom 2 bath home, looking for an owner. .. Call David Censke for your viewings 269.209.3529

2. 2026-04-09
   status Pending 207-char remark

   Show marketing remark (207 chars)

   Don't miss this opportunity! Keep this a rental or give it a little love and call it your own. Nice well-built 3-bedroom 2 bath home, looking for an owner. .. Call David Censke for your viewings 269.209.3529

3. 2026-04-09
   status Pending

   Show marketing remark (207 chars)

   Don't miss this opportunity! Keep this a rental or give it a little love and call it your own. Nice well-built 3-bedroom 2 bath home, looking for an owner. .. Call David Censke for your viewings 269.209.3529

4. 2026-03-10
   listed $89,000 Active 207-char remark

   Show marketing remark (207 chars)

   Don't miss this opportunity! Keep this a rental or give it a little love and call it your own. Nice well-built 3-bedroom 2 bath home, looking for an owner. .. Call David Censke for your viewings 269.209.3529

5. 2026-03-10
   listed $89,000 Active 207-char remark

   Show marketing remark (207 chars)

   Don't miss this opportunity! Keep this a rental or give it a little love and call it your own. Nice well-built 3-bedroom 2 bath home, looking for an owner. .. Call David Censke for your viewings 269.209.3529

6. 2026-03-10
   listed $89,000 Active

   Show marketing remark (207 chars)

   Don't miss this opportunity! Keep this a rental or give it a little love and call it your own. Nice well-built 3-bedroom 2 bath home, looking for an owner. .. Call David Censke for your viewings 269.209.3529

7. 2019-08-20
   historical
8. 2019-08-20
   historical
9. 2019-08-20
   historical
10. 2019-04-16
    listed $650,000
11. 2019-04-16
    listed $650,000 Active
12. 2019-04-16
    listed $650,000
13. 2014-09-18
    historical
14. 2013-04-26
    soldstatus $15,000
15. 2013-04-26
    soldstatus $15,000
16. 2013-03-25
    listed $5,800
17. 2013-03-25
    listed $5,800
18. 2012-01-20
    historical
19. 2011-07-21
    listed $44,900
20. 2011-07-21
    listed $44,900
21. 2003-09-05
    soldstatus $55,000
22. 2003-09-05
    soldstatus $55,000
23. 2002-02-07
    listed $49,900
24. 2002-02-07
    listed $49,900

ⓘ 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: $805 · $67/mo
• Projected year-2 tax: $1,088 · $91/mo
• Expected delta: +$283/yr (+$24/mo · 35.1%)

ⓘ 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 ≥98°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: $15,969
• − Mortgage interest: −$4,985
• − Property taxes: −$805
• − Insurance: −$445
• − Repairs & maintenance: −$1,278
• − Management: −$1,278
• − Depreciation: −$2,589
• Taxable income: $4,589
• Est. tax owed @ 24.0%: −$1,101
• After-tax cash flow: $4,663/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): 20,550
• Household income: $42,690
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 717.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 58% Black 23% Two or more races 11% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1%
• Common ancestry: Slovak 3% Romanian 2% Lithuanian 2%
• Foreign-born: 4% · Canada, Philippines
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 2% 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: ▼ -111.62%
• Current HPI: 273.2446
• Rent YoY: ▲ 11.76%
• 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

+78.4% since first listed

24 events — show timeline

• 2026-04-09 Pending — MiRealSource-MiMLS
• 2026-04-09 Pending — REALCOMP
• 2026-04-09 Pending — SW Michigan MLS
• 2026-03-10 Listed $89,000 REALCOMP
• 2026-03-10 Listed $89,000 SW Michigan MLS
• 2026-03-10 Listed $89,000 MiRealSource-MiMLS
• 2019-08-20 Listing Removed — MiRealSource-MiMLS
• 2019-08-20 Listing Removed — SW Michigan MLS
• 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
• 2014-09-18 Listing Removed — SW Michigan MLS
• 2013-04-26 Sold (MLS) $15,000 REALCOMP
• 2013-04-26 Sold (MLS) $15,000 SW Michigan MLS
• 2013-03-25 Listed $5,800 REALCOMP
• 2013-03-25 Listed $5,800 SW Michigan MLS
• 2012-01-20 Listing Removed — REALCOMP
• 2011-07-21 Listed $44,900 REALCOMP
• 2011-07-21 Listed $44,900 SW Michigan MLS
• 2003-09-05 Sold (MLS) $55,000 REALCOMP
• 2003-09-05 Sold (MLS) $55,000 SW Michigan MLS
• 2002-02-07 Listed $49,900 REALCOMP
• 2002-02-07 Listed $49,900 SW Michigan MLS

Property tax history

-4.1%/yr

Latest (2025): $805 · -31.2% YoY. Source: county tax records.