228 Kirkwood Ave · Springfield, MI 49037

$139,900

3 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 3 Days on market

Built 1955 5,097 sqft lot Est $157k · 11% under

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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 +23.4/30.0
• ARV discount +12.4/15.0
• DSCR +7.5/10.0
• 1% rule +5.1/10.0
• Rent growth +5.0/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ranch-style home on Kirkwood Ave with a clean, updated interior and open feel throughout. Features newer flooring and a functional layout that flows easily between living spaces. Exterior offers low-maintenance vinyl siding, a spacious driveway, and a private backyard with patio space for relaxing or entertaining. Multiple entry points add everyday convenience. Move-in ready with updates already in place.

Key facts

• Newer flooring
• Private backyard
• Updated interior

Tags

• UPDATED INTERIOR
• NEWER FLOORING
• FUNCTIONAL LAYOUT
• LOW-MAINTENANCE VINYL SIDING
• PRIVATE BACKYARD
• PATIO SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).

Location & tenants

• Location reads 65/100 on livability (#472 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools F, amenities 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); 237 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% 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 $967 of loan paydown is wiped out by about $4k 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 $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1955 — 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. 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?
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: 1.01% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $156,864
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
228 Kirkwood Ave	0.00mi	3/1.0	1,032 (0%)	1mo	$142,000	$138	100
1131 Frisbie Blvd	0.17mi	3/1.0	1,054 (+2%)	5mo	$155,000	$147	84
114 Wellworth Ave	0.27mi	3/1.5	988 (-4%)	6mo	$135,000	$137	74
172 25th St N	0.24mi	3/1.0	944 (-8%)	2mo	$160,500	$170	73
322 N 28th St	0.46mi	3/1.5	1,064 (+3%)	0mo	$205,000	$193	71
150 N 23rd St	0.36mi	4/1.0 (+1)	1,086 (+5%)	6mo	$199,000	$183	64
24 S 31st St S	0.56mi	2/1.0 (-1)	1,040 (+1%)	4mo	$157,900	$152	64
121 N 21st St N	0.48mi	2/1.0 (-1)	1,080 (+5%)	4mo	$164,000	$152	62
24 S 31st St	0.72mi	2/1.0 (-1)	1,040 (+1%)	4mo	$157,900	$152	56
21 N 27th St	0.53mi	2/1.0 (-1)	963 (-7%)	6mo	$155,000	$161	54
294 N 20th St	0.50mi	2/1.0 (-1)	920 (-11%)	2mo	$103,000	$112	52
396 & 398 N 20th St	0.71mi	2/2.0 (-1)	992 (-4%)	2mo	$240,000	$242	50

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $1,278
• Equity at exit: $20,860

10-year hold

• IRR: 14.6%
• Equity multiple: 2.44×
• Total profit: $56,216
• Equity at exit: $12,096

Cash invested: $39,172 (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 49037

• Home prices YoY: -29.0%
• Rents YoY: 11.8%
• Active inventory: 237
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,414 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$66 /mo · $791/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $259

Break-even live

Break-even rent $1,086

Max offer price $139,900

Occupancy floor 77%

Sensitivity live

Price	-10% $339	-5% $299	+0% $259	+5% $220	+10% $180
Rent	-10% $148	-5% $204	+0% $259	+5% $315	+10% $371
Rate	-1.0pp $330	-0.5pp $295	base $259	+0.5pp $223	+1.0pp $186

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
449 24th St N Springfield, MI	3.0	1.5	1227	$1,550	$1.26	45d	1	0.89mi

Listing history 6 events

1. 2026-04-27
   status Pending 408-char remark

   Show marketing remark (408 chars)

   Ranch-style home on Kirkwood Ave with a clean, updated interior and open feel throughout. Features newer flooring and a functional layout that flows easily between living spaces. Exterior offers low-maintenance vinyl siding, a spacious driveway, and a private backyard with patio space for relaxing or entertaining. Multiple entry points add everyday convenience. Move-in ready with updates already in place.

2. 2026-04-27
   status Pending 408-char remark

   Show marketing remark (408 chars)

   Ranch-style home on Kirkwood Ave with a clean, updated interior and open feel throughout. Features newer flooring and a functional layout that flows easily between living spaces. Exterior offers low-maintenance vinyl siding, a spacious driveway, and a private backyard with patio space for relaxing or entertaining. Multiple entry points add everyday convenience. Move-in ready with updates already in place.

3. 2026-04-27
   status Pending

   Show marketing remark (408 chars)

   Ranch-style home on Kirkwood Ave with a clean, updated interior and open feel throughout. Features newer flooring and a functional layout that flows easily between living spaces. Exterior offers low-maintenance vinyl siding, a spacious driveway, and a private backyard with patio space for relaxing or entertaining. Multiple entry points add everyday convenience. Move-in ready with updates already in place.

4. 2026-04-24
   listed $139,900 Active 408-char remark

   Show marketing remark (408 chars)

   Ranch-style home on Kirkwood Ave with a clean, updated interior and open feel throughout. Features newer flooring and a functional layout that flows easily between living spaces. Exterior offers low-maintenance vinyl siding, a spacious driveway, and a private backyard with patio space for relaxing or entertaining. Multiple entry points add everyday convenience. Move-in ready with updates already in place.

5. 2026-04-24
   listed $139,900 Active 408-char remark

   Show marketing remark (408 chars)

   Ranch-style home on Kirkwood Ave with a clean, updated interior and open feel throughout. Features newer flooring and a functional layout that flows easily between living spaces. Exterior offers low-maintenance vinyl siding, a spacious driveway, and a private backyard with patio space for relaxing or entertaining. Multiple entry points add everyday convenience. Move-in ready with updates already in place.

6. 2026-04-24
   listed $139,900 Active

   Show marketing remark (408 chars)

   Ranch-style home on Kirkwood Ave with a clean, updated interior and open feel throughout. Features newer flooring and a functional layout that flows easily between living spaces. Exterior offers low-maintenance vinyl siding, a spacious driveway, and a private backyard with patio space for relaxing or entertaining. Multiple entry points add everyday convenience. Move-in ready with updates already in place.

ⓘ 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: $791 · $66/mo
• Projected year-2 tax: $1,473 · $123/mo
• Expected delta: +$682/yr (+$57/mo · 86.2%)

ⓘ 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 ≥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: $16,970
• − Mortgage interest: −$7,837
• − Property taxes: −$791
• − Insurance: −$700
• − Repairs & maintenance: −$1,358
• − Management: −$1,358
• − Depreciation: −$4,070
• Taxable income: $858
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $2,906/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 — Springfield

• Score: 65/100
• State rank: #472
• US rank: #13384

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, MI
• County: Calhoun County · 91,590 people
• 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

+0.0% since first listed

6 events — show timeline

• 2026-04-27 Pending — REALCOMP
• 2026-04-27 Pending — MiRealSource-MiMLS
• 2026-04-27 Pending — SW Michigan MLS
• 2026-04-24 Listed $139,900 SW Michigan MLS
• 2026-04-24 Listed $139,900 MiRealSource-MiMLS
• 2026-04-24 Listed $139,900 REALCOMP

Property tax history

-0.6%/yr

Latest (2025): $791 · -24.6% YoY. Source: county tax records.