439 W Columbia Ave · Battle Creek, MI 49015

$239,500

3 bd · 3.0 ba · — sqft · MultiFamily · 73 Days on market

Built 1930 Fair condition 0.29 ac lot Est $177k · 35% over

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Why this score? — see what drove the C 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 +26.3/30.0
• DSCR +8.9/10.0
• 1% rule +7.0/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Condition / age +2.2/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Location, location, location! What an opportunity to own your own home, business, or as an investment/income property with plenty of exposure and high traffic count. There are numerous options with this! The building contains two suites and a lower level walkout apartment unit facing Goguac Lake. The property boasts over 112 feet of road frontage in one of the cities busiest business districts, complete with Big Sign Board for Advertising. Nice sized attached garage. RENTAL CERTIFIED April 28, 2026. Within minutes of schools, stores, restaurants and I 94, contact Mike Palmer at 269-580-1515 for more information or to schedule an appointment.

Key facts

• Attached garage
• Road frontage
• Goguac lake

Tags

• GOGUAC LAKE
• ROAD FRONTAGE
• ATTACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $240k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $618 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $240k).
• Recommended offer: $225k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.3% 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.
• Lakeview School District (Calhoun) (urban): math 28% / reading 40% proficiency, ranked #291 of 540 in MI (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+11.1%/yr); 168 active listings in the ZIP; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• At $2,877/mo this rent would consume 50% of the median local household income ($69k/yr) (locally 755% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• 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 $67k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $225,130 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.05%
• DSCR: 1.49
• GRM: 6.9

CMA / ARV

• ARV (median comp): $177,238
• List price: $239,500
• Delta: 35.13%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Richards Pl	0.56mi	4/3.0 (+1)	1,518	3mo	$180,000	$119	54
146 W Bidwell St W	0.59mi	2/2.0 (-1)	—	0mo	$133,500	—	51
32 E Territorial Rd	0.62mi	4/3.0 (+1)	1,231	8mo	$67,500	$55	47
566 Capital Ave SW	0.72mi	4/— (+1)	—	15mo	$203,000	—	37
23 E Bidwell St	0.72mi	2/1.0 (-1)	—	11mo	$5,000	—	32

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: 5.7%
• Equity multiple: 1.24×
• Total profit: $15,780
• Equity at exit: $35,710

10-year hold

• IRR: 19.2%
• Equity multiple: 2.99×
• Total profit: $133,777
• Equity at exit: $20,708

Cash invested: $67,060 (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: 168
• Price-to-rent: 20.8×

Monthly cashflow live

• Estimated rent: $2,877 medium
• Mortgage (P&I): −$1,256
• Tax est. 1.5%: −$299 /mo · $3,592/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$604
• Net cashflow: $618

Break-even live

Break-even rent $2,095

Max offer price $239,500

Occupancy floor 74%

Sensitivity live

Price	-10% $783	-5% $700	+0% $618	+5% $535	+10% $452
Rent	-10% $390	-5% $504	+0% $618	+5% $731	+10% $845
Rate	-1.0pp $738	-0.5pp $679	base $618	+0.5pp $556	+1.0pp $493

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$2,877
Total (3 units)			$2,877

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: $59,875
• Closing costs: $7,185
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $239,500 Active 73 DOM
2. 2026-06-19
   days on market $239,500 Active 71 DOM
3. 2026-06-18
   days on market $239,500 Active 70 DOM
4. 2026-06-17
   remarks 699-char remark
5. 2026-06-17
   days on market $239,500 Active 69 DOM
6. 2026-06-16
   days on market $239,500 Active 68 DOM
7. 2026-06-15
   pricedays on market $239,500 Active 67 DOM
8. 2026-06-14
   days on market $250,000 Active 65 DOM
9. 2026-06-13
   days on market $250,000 Active 64 DOM
10. 2026-06-10
    days on market $250,000 Active 62 DOM
11. 2026-06-09
    days on market $250,000 Active 61 DOM
12. 2026-06-08
    days on market $250,000 Active 60 DOM
13. 2026-06-07
    days on market $250,000 Active 59 DOM
14. 2026-06-05
    days on market $250,000 Active 56 DOM
15. 2026-06-02
    days on market $250,000 Active 54 DOM
16. 2026-06-01
    days on market $250,000 Active 53 DOM
17. 2026-05-31
    days on market $250,000 Active 52 DOM
18. 2026-05-30
    days on market $250,000 Active 51 DOM
19. 2026-04-10
    listed $250,000 Active 649-char remark

    Show marketing remark (649 chars)

    Location, location, location! What an opportunity to own your own home, business, or as an investment/income property with plenty of exposure and high traffic count. There are numerous options with this! The building contains two suites and a lower level walkout apartment unit facing Goguac Lake. The property boasts over 112 feet of road frontage in one of the cities busiest business districts, complete with Big Sign Board for Advertising. Nice sized attached garage. RENTAL CERTIFIED April 28, 2026. Within minutes of schools, stores, restaurants and I 94, contact Mike Palmer at 269-580-1515 for more information or to schedule an appointment.

20. 2026-04-08
    listed $250,000 Active 649-char remark

    Show marketing remark (649 chars)

    Location, location, location! What an opportunity to own your own home, business, or as an investment/income property with plenty of exposure and high traffic count. There are numerous options with this! The building contains two suites and a lower level walkout apartment unit facing Goguac Lake. The property boasts over 112 feet of road frontage in one of the cities busiest business districts, complete with Big Sign Board for Advertising. Nice sized attached garage. RENTAL CERTIFIED April 28, 2026. Within minutes of schools, stores, restaurants and I 94, contact Mike Palmer at 269-580-1515 for more information or to schedule an appointment.

ⓘ 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 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: $34,524
• − Mortgage interest: −$13,416
• − Property taxes: −$3,592
• − Insurance: −$1,198
• − Repairs & maintenance: −$2,762
• − Management: −$2,762
• − Depreciation: −$6,967
• Taxable income: $3,827
• Est. tax owed @ 24.0%: −$919
• After-tax cash flow: $6,494/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This property requires moderate renovations, including a paint job, roof replacement, and exterior siding repair, to improve its condition and increase its resale and rental value.

Repairs flagged

• Major paint — extensive peeling
• Major roof — visible from satellite image
• Major exterior siding — visible from satellite image

Value-add opportunities

• Both paint job — enhances curb appeal and interior
• Both roof replacement — improves safety and value
• Both exterior siding repair — enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
paint · extensive peeling	Major	$15,000–50,000
roof · visible from satellite image	Major	$15,000–50,000
exterior siding · visible from satellite image	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint job — enhances curb appeal and interior ↑
• Both roof replacement — improves safety and value ↑
• Both exterior siding repair — enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Lakeview School District (Calhoun)
• NCES district ID: 2620850
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 40% ▼ -6.00%
• Median HH income: $52,353
• Composite: 29.7/100
• National rank: #6455
• State rank: #291 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

+0.0% since first listed

2 events — show timeline

• 2026-04-10 Listed $250,000 REALCOMP
• 2026-04-08 Listed $250,000 MiRealSource-MiMLS