1476 Goodrich St · Allegan, MI 49010

$185,000

3 bd · 2.0 ba · 1,512 sqft · SingleFamily · 8 Days on market

Built 1999 0.40 ac lot $122/sqft · at area comps Est $193k · at est.

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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 +28.5/30.0
• DSCR +10.0/10.0
• ARV discount +9.4/15.0
• 1% rule +7.9/10.0
• Livability +3.5/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

Key facts

• 0.4 acre lot
• Built 1999
• Listed 8 days

Tags

• WOOD BURNING FIREPLACE
• NO BACKYARD NEIGHBORS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $548 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Cap rate 10.2% vs local median 4.6% in Allegan — 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 (#318 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, employment D+, amenities F.
• Allegan Public Schools (town): math 26% / reading 37% proficiency, ranked #338 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 183 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 419 units permitted in Allegan County in 2024 (0 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 $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $52k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 14y 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 $56/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $185,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.29% ✓
• Cap rate: 10.21%
• Cash-on-cash: 13.99%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (median comp): $192,948
• List price: $185,000
• Delta: -4.12%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3331 115th Ave	0.18mi	3/2.0	1,476 (-2%)	0mo	$310,000	$210	88
126 Goodwin St	0.51mi	3/2.5	1,536 (+2%)	6mo	$332,500	$216	66
211 Western Ave	0.40mi	4/1.5 (+1)	1,591 (+5%)	1mo	$220,000	$138	64
215 James St	0.43mi	3/1.0	1,591 (+5%)	7mo	$195,000	$123	62
123 Terrace St	0.64mi	3/1.0	1,528 (+1%)	5mo	$200,000	$131	60
557 Ely St	0.46mi	3/1.0	1,658 (+10%)	2mo	$226,000	$136	57
319 Pine St	0.58mi	3/1.5	1,596 (+6%)	7mo	$215,000	$135	56
328 Thomas St	0.68mi	3/1.0	1,608 (+6%)	1mo	$328,000	$204	53
3382 Monroe Rd	0.73mi	2/2.0 (-1)	1,568 (+4%)	3mo	$174,900	$112	52
412 Hastings St	0.67mi	3/1.5	1,664 (+10%)	1mo	$244,000	$147	49
322 Thomas St	0.69mi	3/2.0	1,642 (+9%)	7mo	$270,000	$164	48
143 Ely St	0.64mi	2/1.0 (-1)	1,325 (-12%)	7mo	$178,000	$134	35

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: 2.5%
• Equity multiple: 1.10×
• Total profit: $5,012
• Equity at exit: $27,584

10-year hold

• IRR: 12.1%
• Equity multiple: 1.96×
• Total profit: $49,614
• Equity at exit: $15,995

Cash invested: $51,800 (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 49010

• Home prices YoY: -34.3%
• Active inventory: 183
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,383 high
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $548

Break-even live

Break-even rent $1,689

Max offer price $185,000

Occupancy floor 72%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
364 Sherman St Allegan, MI	3.0	2.5	1800	$2,795	$1.55	44d	1	0.61mi
364 Sherman St Allegan, MI	3.0	2.5	1800	$2,495	$1.39	21d	1	0.61mi
366 Sherman St Allegan, MI	4.0	2.5	1910	$2,295	$1.20	44d	1	0.62mi
366 Sherman St Allegan, MI	4.0	2.5	1910	$2,195	$1.15	21d	1	0.62mi
201 Monroe St Unit 1 Allegan, MI	3.0	2.0	1700	$2,000	$1.18	21d	1	0.92mi

Listing history 20 events

1. 2026-05-04
   status Pending 674-char remark

   Show marketing remark (675 chars)

   Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

2. 2026-05-04
   status Pending 675-char remark

   Show marketing remark (675 chars)

   Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

3. 2026-05-04
   status Pending

   Show marketing remark (675 chars)

   Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

4. 2026-05-03
   price $185,000 674-char remark

   Show marketing remark (674 chars)

   Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

5. 2026-05-03
   status Active 675-char remark

   Show marketing remark (674 chars)

   Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

6. 2026-05-03
   price $185,000 675-char remark

   Show marketing remark (674 chars)

   Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

7. 2026-05-03
   status Active 674-char remark

   Show marketing remark (674 chars)

   Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

8. 2026-05-03
   status Active

   Show marketing remark (674 chars)

   Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

9. 2026-05-03
   price $185,000

   Show marketing remark (674 chars)

   Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

10. 2026-04-29
    status Pending 675-char remark

    Show marketing remark (674 chars)

    Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

11. 2026-04-29
    status Pending 674-char remark

    Show marketing remark (674 chars)

    Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

12. 2026-04-29
    status Pending

    Show marketing remark (674 chars)

    Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

13. 2026-04-22
    listed $190,000 Active 674-char remark

    Show marketing remark (675 chars)

    Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

14. 2026-04-22
    listed $190,000 Active 675-char remark

    Show marketing remark (675 chars)

    Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

15. 2026-04-22
    listed $190,000 Active

    Show marketing remark (675 chars)

    Back on market because buyer couldn't get the loan! Discover the perfect blend of comfort and convenience in this inviting home, ideally located within walking distance to elementary, middle, and high schools! Boasting over 1500 finished square feet, this charming residence features 3 bedrooms, including 2 full baths, nestled on a spacious, almost a half acre. You'll love the wood burning fireplace on these chilly evenings, too! Enjoy the tranquility of having no backyard neighbors, as the backyard opens up to the middle school. The master suite is a delightful retreat, complete with a full bath which includes 2 sinks and a generous closet. Welcome to your new home!

16. 2026-02-14
    historical
17. 2026-02-03
    listed $205,000 Active
18. 2026-02-02
    listed $205,000 Active
19. 2014-09-17
    historical
20. 2012-08-06
    listed $84,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 78% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $28,592
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$1,592
• − Repairs & maintenance: −$2,287
• − Management: −$2,287
• − Depreciation: −$5,382
• Taxable income: $3,906
• Est. tax owed @ 24.0%: −$937
• After-tax cash flow: $5,642/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: Allegan Public Schools
• NCES district ID: 2602220
• Math proficiency: 26% ▼ -8.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $48,602
• Composite: 27.27/100
• National rank: #7008
• State rank: #338 of 540 in MI

Livability — Allegan

• Score: 70/100
• State rank: #318
• US rank: #7767

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 18,394

Population outlook (Allegan County) Hauer SSP2

• Today (2025): 120,251 people
• By 2030: 122,204 · +1.6%
• By 2040: 123,979 · +3.1%
• By 2050: 122,340 · +1.7%
• By 2075: 116,088 · -3.5%
• By 2100: 98,461 · -18.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 5% Black 1%
• Common ancestry: Iranian 10% Romanian 4% Italian 2%
• Foreign-born: 2% · Canada, China
• Languages at home: 98% English-only · Spanish 2%

Political lean MEDSL · Allegan

• 2024 margin: Strong R (+27.2) · D 35.7% · R 62.9% · Other 1.5%
• 2008→2024 swing: -16.5pp toward R · 2008: -10.7pp · 2024: -27.2pp
• All cycles: 2024: R+27.2 2020: R+25.2 2016: R+28.8 2012: R+19.2 2008: R+10.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -136.08%
• Current HPI: 260.4976
• 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

+120.2% since first listed

20 events — show timeline

• 2026-05-04 Pending — MiRealSource-MiMLS
• 2026-05-04 Pending — REALCOMP
• 2026-05-04 Pending — SW Michigan MLS
• 2026-05-03 Price Changed $185,000 MiRealSource-MiMLS
• 2026-05-03 Relisted — REALCOMP
• 2026-05-03 Price Changed $185,000 REALCOMP
• 2026-05-03 Relisted — MiRealSource-MiMLS
• 2026-05-03 Relisted — SW Michigan MLS
• 2026-05-03 Price Changed $185,000 SW Michigan MLS
• 2026-04-29 Pending — REALCOMP
• 2026-04-29 Pending — MiRealSource-MiMLS
• 2026-04-29 Pending — SW Michigan MLS
• 2026-04-22 Listed $190,000 SW Michigan MLS
• 2026-04-22 Listed $190,000 REALCOMP
• 2026-04-22 Listed $190,000 MiRealSource-MiMLS
• 2026-02-14 Listing Removed — MiRealSource-MiMLS
• 2026-02-03 Listed $205,000 REALCOMP
• 2026-02-02 Listed $205,000 MiRealSource-MiMLS
• 2014-09-17 Listing Removed — SW Michigan MLS
• 2012-08-06 Listed $84,000 SW Michigan MLS