1127 Forbes St · Kalamazoo, MI 49006

$149,900

2 bd · 1.0 ba · 967 sqft · SingleFamily public records · 60 Days on market

Built 1895 6,534 sqft lot Est $143k · at est.

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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 +9.7/30.0
• ARV discount +5.4/15.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Rent growth +3.3/5.0
• 1% rule +2.9/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1127 Forbes St in Kalamazoo-where comfort meets convenience! Ideally located near downtown Kalamazoo shopping, dining, and everyday amenities, this move-in-ready home offers stylish updates throughout. The refreshed kitchen provides a functional and inviting space, complete with included appliances for added value. Durable vinyl plank flooring flows through the main living areas, creating a modern, cohesive feel. Step outside to a fully fenced side/backyard-perfect for pets, play, or relaxing evenings. A great opportunity for homeowners or investors alike!

Key facts

• Included appliances
• Refreshed kitchen
• Vinyl plank flooring

Tags

• REFRESHED KITCHEN
• INCLUDED APPLIANCES
• VINYL PLANK FLOORING
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Attached parking; Attached garage; Carport
• Utilities: Public water
• Home design: Single-family residence; Residential property; Built in 1895
• Construction: Other construction materials
• Exterior features: Public water; Corner lot location (Ingleside Terrace and Forbes)

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Cooling available
• Interior features: Seven total rooms; Partial basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $132k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $119k (20.7% below list).
• Recommended offer: $119k (20.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.2% in Kalamazoo — 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 76/100 on livability (#141 in MI, #3,492 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime F, employment D-.
• Kalamazoo Public Schools (urban): math 43% / reading 72% proficiency, ranked #71 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Woodward School For Technology And Research (206 students, 95% FRL); Hillside Middle School (math 75% / reading 75%, grade A, #8 of 493 statewide, top 3%, 512 students, 72% FRL); Kalamazoo Central High School (math 42% / reading 67%, grade C-, #109 of 713 statewide, top 17%, 1,612 students, 64% FRL).
• Market conditions: Rents rising (+3.4%/yr); 105 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 33% of the median local income ($44k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Kalamazoo County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 40y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,881 (20.7% 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. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.79% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.85%
• DSCR: 0.87
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $143,116
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 Denner St	0.20mi	3/1.0 (+1)	986 (+2%)	11mo	$175,000	$177	73
916 Hawley St	0.36mi	2/1.0	900 (-7%)	6mo	$112,000	$124	66
1444 Jefferson Ave	0.31mi	2/1.0	900 (-7%)	13mo	$133,000	$148	63
947 Bellevue Pl	0.53mi	2/1.0	1,040 (+8%)	2mo	$137,000	$132	61
636 Mabel St	0.54mi	3/1.5 (+1)	958 (-1%)	9mo	$118,900	$124	59
116 N Arlington St	0.51mi	3/1.0 (+1)	1,049 (+8%)	1mo	$192,000	$183	57
1119 Woodward Ave	0.52mi	2/1.0	918 (-5%)	19mo	$132,400	$144	52
429 Sprague Ave	0.57mi	3/1.0 (+1)	1,032 (+7%)	10mo	$211,500	$205	48
1127 Woodward Ave	0.54mi	2/1.0	886 (-8%)	16mo	$132,500	$150	48
608 Summer St	0.07mi	3/2.0 (+1)	1,110 (+15%)	19mo	$98,000	$88	47
1311 Alamo Ave	0.45mi	3/1.0 (+1)	1,073 (+11%)	14mo	$125,000	$116	44
106 S Berkley St	0.59mi	3/1.5 (+1)	1,110 (+15%)	11mo	$205,000	$185	31

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 · 3.39% rent growth · sell at horizon

5-year hold

• IRR: -20.6%
• Equity multiple: 0.28×
• Total profit: $-30,155
• Equity at exit: $22,351

10-year hold

• IRR: -13.0%
• Equity multiple: 0.23×
• Total profit: $-32,422
• Equity at exit: $12,961

Cash invested: $41,972 (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 49006

• Rents YoY: 3.4%
• Active inventory: 105
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,189 high
• Mortgage (P&I): −$786
• Tax from tax record: −$190 /mo · $2,284/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $-100

Break-even live

Break-even rent $1,315

Max offer price $132,279

Occupancy floor —

Sensitivity live

Price	-10% $-15	-5% $-57	+0% $-100	+5% $-142	+10% $-185
Rent	-10% $-194	-5% $-147	+0% $-100	+5% $-53	+10% $-6
Rate	-1.0pp $-24	-0.5pp $-62	base $-100	+0.5pp $-139	+1.0pp $-178

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
323 Woodward Ave Unit 2 Kalamazoo, MI	1.0	1.0	700	$1,350	$1.93	22d	1	0.25mi
315 Woodward Ave Unit 5 Kalamazoo, MI	1.0	1.0	600	$715	$1.19	15d	1	0.25mi
805 Douglas Ave Unit 1 Kalamazoo, MI	1.0	1.0	600	$875	$1.46	15d	1	0.28mi
232 Woodward Ave Apt 1 Kalamazoo, MI	1.0	1.0	800	$1,199	$1.50	22d	1	0.30mi
807 Ferris Ct Unit 1 Kalamazoo, MI	1.0	1.0	680	$910	$1.34	22d	1	0.33mi
807 Ferris Ct Unit 3 Kalamazoo, MI	1.0	1.0	680	$870	$1.28	22d	1	0.33mi
816 W Main St Kalamazoo, MI	3.0	1.0	1005	$1,100	$1.09	22d	1	0.38mi
136 S Berkley St Kalamazoo, MI	2.0	1.0	840	$1,195	$1.42	22d	1	0.59mi
525 Sprague Ave Unit 1 Kalamazoo, MI	1.0	1.0	525	$810	$1.54	22d	1	0.61mi
809 W Cedar St Unit 2 Kalamazoo, MI	1.0	1.0	600	$795	$1.32	22d	1	0.64mi
603 W Vine St Unit 4 Kalamazoo, MI	1.0	1.0	657	$875	$1.33	15d	1	0.92mi
807 Central Park Cir Kalamazoo, MI	1.0–3.0	1.0–2.0	1089	$1,908	$1.75	15d	12	0.92mi
530 S Rose St Kalamazoo, MI	1.0	1.0	695	$1,352	$1.94	15d	1	1.00mi
620 Minor Ave Unit 3 Kalamazoo, MI	2.0	1.0	800	$1,075	$1.34	15d	1	1.01mi
515 Minor Ave Unit 2 Kalamazoo, MI	2.0	1.0	800	$1,125	$1.41	15d	1	1.07mi
266 E Michigan Ave Unit 402 Kalamazoo, MI	1.0	1.5	900	$1,895	$2.11	22d	1	1.08mi
310 E Michigan Ave Kalamazoo, MI	2.0	2.0	1100	$1,385	$1.26	22d	1	1.10mi
513 Wheaton Ave Unit 2 Kalamazoo, MI	1.0	1.0	600	$875	$1.46	15d	1	1.14mi
815 N Pitcher St Unit 12 Kalamazoo, MI	2.0	2.0	982	$1,550	$1.58	22d	1	1.14mi
525 E Ransom St Kalamazoo, MI	1.0–2.0	1.0–2.0	807	$1,625	$2.01	22d	1	1.27mi
730 Pioneer St Unit 2 Kalamazoo, MI	2.0	1.0	870	$900	$1.03	15d	1	1.28mi
1320 S Westnedge Ave Unit 4 Kalamazoo, MI	1.0	1.0	550	$775	$1.41	22d	1	1.29mi
125 S Kendall Ave Kalamazoo, MI	1.0–2.0	1.0–1.5	735	$1,000	$1.36	22d	6	1.30mi
332 S Kendall Ave Kalamazoo, MI	1.0–2.0	1.0–2.0	780	$1,175	$1.51	22d	4	1.41mi

Listing history 25 events

1. 2026-06-21
   days on market $149,900 Active 60 DOM
2. 2026-06-18
   days on market $149,900 Active 57 DOM
3. 2026-06-17
   days on market $149,900 Active 56 DOM
4. 2026-06-16
   days on market $149,900 Active 55 DOM
5. 2026-06-15
   days on market $149,900 Active 54 DOM
6. 2026-06-14
   days on market $149,900 Active 52 DOM
7. 2026-06-13
   days on market $149,900 Active 51 DOM
8. 2026-06-10
   days on market $149,900 Active 49 DOM
9. 2026-06-09
   days on market $149,900 Active 48 DOM
10. 2026-06-08
    days on market $149,900 Active 47 DOM
11. 2026-06-07
    days on market $149,900 Active 46 DOM
12. 2026-06-05
    days on market $149,900 Active 43 DOM
13. 2026-06-03
    days on market $149,900 Active 42 DOM
14. 2026-06-02
    days on market $149,900 Active 41 DOM
15. 2026-06-01
    days on market $149,900 Active 40 DOM
16. 2026-05-31
    days on market $149,900 Active 39 DOM
17. 2026-05-30
    days on market $149,900 Active 38 DOM
18. 2026-05-16
    price $149,900 573-char remark

    Show marketing remark (573 chars)

    Welcome to 1127 Forbes St in Kalamazoo-where comfort meets convenience! Ideally located near downtown Kalamazoo shopping, dining, and everyday amenities, this move-in-ready home offers stylish updates throughout. The refreshed kitchen provides a functional and inviting space, complete with included appliances for added value. Durable vinyl plank flooring flows through the main living areas, creating a modern, cohesive feel. Step outside to a fully fenced side/backyard-perfect for pets, play, or relaxing evenings. A great opportunity for homeowners or investors alike!

19. 2026-05-15
    price $149,900 573-char remark

    Show marketing remark (573 chars)

    Welcome to 1127 Forbes St in Kalamazoo-where comfort meets convenience! Ideally located near downtown Kalamazoo shopping, dining, and everyday amenities, this move-in-ready home offers stylish updates throughout. The refreshed kitchen provides a functional and inviting space, complete with included appliances for added value. Durable vinyl plank flooring flows through the main living areas, creating a modern, cohesive feel. Step outside to a fully fenced side/backyard-perfect for pets, play, or relaxing evenings. A great opportunity for homeowners or investors alike!

20. 2026-05-15
    price $149,900

    Show marketing remark (573 chars)

    Welcome to 1127 Forbes St in Kalamazoo-where comfort meets convenience! Ideally located near downtown Kalamazoo shopping, dining, and everyday amenities, this move-in-ready home offers stylish updates throughout. The refreshed kitchen provides a functional and inviting space, complete with included appliances for added value. Durable vinyl plank flooring flows through the main living areas, creating a modern, cohesive feel. Step outside to a fully fenced side/backyard-perfect for pets, play, or relaxing evenings. A great opportunity for homeowners or investors alike!

21. 2026-04-22
    listed $159,900 Active 573-char remark

    Show marketing remark (573 chars)

    Welcome to 1127 Forbes St in Kalamazoo-where comfort meets convenience! Ideally located near downtown Kalamazoo shopping, dining, and everyday amenities, this move-in-ready home offers stylish updates throughout. The refreshed kitchen provides a functional and inviting space, complete with included appliances for added value. Durable vinyl plank flooring flows through the main living areas, creating a modern, cohesive feel. Step outside to a fully fenced side/backyard-perfect for pets, play, or relaxing evenings. A great opportunity for homeowners or investors alike!

22. 2026-04-22
    listed $159,900 Active 573-char remark

    Show marketing remark (573 chars)

    Welcome to 1127 Forbes St in Kalamazoo-where comfort meets convenience! Ideally located near downtown Kalamazoo shopping, dining, and everyday amenities, this move-in-ready home offers stylish updates throughout. The refreshed kitchen provides a functional and inviting space, complete with included appliances for added value. Durable vinyl plank flooring flows through the main living areas, creating a modern, cohesive feel. Step outside to a fully fenced side/backyard-perfect for pets, play, or relaxing evenings. A great opportunity for homeowners or investors alike!

23. 2026-04-22
    listed $159,900 Active

    Show marketing remark (573 chars)

    Welcome to 1127 Forbes St in Kalamazoo-where comfort meets convenience! Ideally located near downtown Kalamazoo shopping, dining, and everyday amenities, this move-in-ready home offers stylish updates throughout. The refreshed kitchen provides a functional and inviting space, complete with included appliances for added value. Durable vinyl plank flooring flows through the main living areas, creating a modern, cohesive feel. Step outside to a fully fenced side/backyard-perfect for pets, play, or relaxing evenings. A great opportunity for homeowners or investors alike!

24. 1986-11-06
    listed $22,900
25. 1986-11-06
    listed $22,900

ⓘ 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: $2,284 · $190/mo
• Projected year-2 tax: $2,296 · $191/mo
• Expected delta: +$12/yr (+$1/mo · 0.5%)

ⓘ 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 ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,266
• − Mortgage interest: −$8,397
• − Property taxes: −$2,284
• − Insurance: −$750
• − Repairs & maintenance: −$1,141
• − Management: −$1,141
• − Depreciation: −$4,361
• Taxable loss: −$3,808
• Est. tax savings @ 24.0%: +$914
• After-tax cash flow: $-283/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: Kalamazoo Public Schools
• NCES district ID: 2619950
• Math proficiency: 43% ▲ 13.00%
• Reading proficiency: 72% ▲ 33.00%
• Median HH income: $35,291
• Composite: 47.48/100
• National rank: #2275
• State rank: #71 of 540 in MI

Livability — Kalamazoo

• Score: 76/100
• State rank: #141
• US rank: #3492

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kalamazoo, MI
• County: Kalamazoo County · 224,317 people
• City population: 121,397
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 26,507
• Household income: $43,639
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 2581.0

Population outlook (Kalamazoo County) Hauer SSP2

• Today (2025): 280,982 people
• By 2030: 292,068 · +3.9%
• By 2040: 312,191 · +11.1%
• By 2050: 331,196 · +17.9%
• By 2075: 379,021 · +34.9%
• By 2100: 396,579 · +41.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 65% Black 14% Two or more races 10% Hispanic / Latino 9% Asian 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Iranian 6% Romanian 4% Italian 3%
• Foreign-born: 9% · Canada, South Korea, China
• Languages at home: 89% English-only · Spanish 5% Other Indo-European 2% French/Haitian/Cajun 2%

Political lean MEDSL · Kalamazoo

• 2024 margin: D (+17.7) · D 58.0% · R 40.3% · Other 1.7%
• 2008→2024 swing: -1.8pp toward R · 2008: 19.5pp · 2024: 17.7pp
• All cycles: 2024: D+17.7 2020: D+18.7 2016: D+12.8 2012: D+13.3 2008: D+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -235.52%
• Current HPI: 243.4367
• Rent YoY: ▲ 3.39%
• Metro: Kalamazoo-Portage, 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

+554.6% since first listed

8 events — show timeline

• 2026-05-16 Price Changed $149,900 MiRealSource-MiMLS
• 2026-05-15 Price Changed $149,900 REALCOMP
• 2026-05-15 Price Changed $149,900 SW Michigan MLS
• 2026-04-22 Listed $159,900 SW Michigan MLS
• 2026-04-22 Listed $159,900 REALCOMP
• 2026-04-22 Listed $159,900 MiRealSource-MiMLS
• 1986-11-06 Listed $22,900 REALCOMP
• 1986-11-06 Listed $22,900 SW Michigan MLS

Property tax history

+6.6%/yr

Latest (2025): $2,284 · +3.0% YoY. Source: county tax records.