565 Collette Ave · Comstock Northwest, MI 49048

$135,000

2 bd · 1.0 ba · 1,064 sqft · SingleFamily public records · 5 Days on market

Built 1962 0.40 ac lot Est $187k · 28% 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 +16.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Rent growth +4.5/5.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming opportunity in Comstock! This 3-bedroom, 2-bath ranch sits on a spacious double lot and offers incredible potential for the right buyer. Features include a 2-car detached garage plus an additional 1-car detached garage, providing plenty of space for vehicles, storage, hobbies, or a workshop. With solid bones and room to add your personal touches, this home is priced to sell and ready for your vision. Conveniently located and full of possibilities, schedule your showing today to see all this property has to offer. Estate property being sold as-is. Seller will make no repairs.

Key facts

• Double lot
• Detached garage
• 0.4 acre lot

Tags

• DOUBLE LOT
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage; 3 garage spaces
• Utilities: Well water
• Home design: Ranch-style single family residence; Built in 1962
• Construction: Aluminum siding; Composition roof; Crawl space and partial/full basement
• Exterior features: Second garage (additional detached garage); Lot approximately 0.4 acres

Interior

• Kitchen: Range; Refrigerator; Eat-in kitchen layout
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central cooling
• Interior features: Eat-in kitchen; Ramped entrance; Grab bar in main floor bathroom; Replacement windows; 6 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (10.7% below list).
• Recommended offer: $121k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 3.6% in Comstock Northwest — 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 (#224 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities D, commute F, health & safety F.
• Comstock Public Schools (suburban): math 18% / reading 32% proficiency, ranked #428 of 540 in MI (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 65% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+7.9%/yr); 154 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 5y 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.

Recommended offer $120,526 (10.7% below list)

Questions for the listing agent

1. Built in 1962 — 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. 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.
4. 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.
5. 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: 0.89% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.74%
• DSCR: 1.12
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $187,264
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
233 Leenhouts St	0.25mi	2/1.0	1,065 (+0%)	6mo	$167,000	$157	83
84 Henning St	0.46mi	2/1.0	1,008 (-5%)	20mo	$76,000	$75	53
5632 Lantana Ave	0.50mi	3/1.5 (+1)	1,144 (+8%)	20mo	$201,000	$176	40
5324 Comstock Ave	0.73mi	3/1.5 (+1)	954 (-10%)	3mo	$220,000	$231	39
602 Alger St	0.73mi	2/1.0	914 (-14%)	10mo	$162,500	$178	34

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 · 7.88% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.73×
• Total profit: $-10,199
• Equity at exit: $20,129

10-year hold

• IRR: 7.6%
• Equity multiple: 1.70×
• Total profit: $26,285
• Equity at exit: $11,672

Cash invested: $37,800 (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 49048

• Rents YoY: 7.9%
• Active inventory: 154
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$102 /mo · $1,221/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $86

Break-even live

Break-even rent $1,096

Max offer price $135,000

Occupancy floor 88%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6314 E Jk Ave Kalamazoo, MI	2.0	1.0	760	$950	$1.25	21d	1	0.79mi

Listing history 13 events

1. 2026-06-01
   statusdays on market $135,000 Pending 5 DOM
2. 2026-05-31
   days on market $135,000 Active 4 DOM
3. 2026-05-30
   remarks 651-char remark
4. 2026-05-30
   days on market $135,000 Active 3 DOM
5. 2026-05-27
   listed $135,000 Active 590-char remark

   Show marketing remark (590 chars)

   Charming opportunity in Comstock! This 3-bedroom, 2-bath ranch sits on a spacious double lot and offers incredible potential for the right buyer. Features include a 2-car detached garage plus an additional 1-car detached garage, providing plenty of space for vehicles, storage, hobbies, or a workshop. With solid bones and room to add your personal touches, this home is priced to sell and ready for your vision. Conveniently located and full of possibilities, schedule your showing today to see all this property has to offer. Estate property being sold as-is. Seller will make no repairs.

6. 2026-05-27
   listed $135,000 Active

   Show marketing remark (590 chars)

   Charming opportunity in Comstock! This 3-bedroom, 2-bath ranch sits on a spacious double lot and offers incredible potential for the right buyer. Features include a 2-car detached garage plus an additional 1-car detached garage, providing plenty of space for vehicles, storage, hobbies, or a workshop. With solid bones and room to add your personal touches, this home is priced to sell and ready for your vision. Conveniently located and full of possibilities, schedule your showing today to see all this property has to offer. Estate property being sold as-is. Seller will make no repairs.

7. 2026-05-27
   listed $135,000 Active 590-char remark

   Show marketing remark (590 chars)

   Charming opportunity in Comstock! This 3-bedroom, 2-bath ranch sits on a spacious double lot and offers incredible potential for the right buyer. Features include a 2-car detached garage plus an additional 1-car detached garage, providing plenty of space for vehicles, storage, hobbies, or a workshop. With solid bones and room to add your personal touches, this home is priced to sell and ready for your vision. Conveniently located and full of possibilities, schedule your showing today to see all this property has to offer. Estate property being sold as-is. Seller will make no repairs.

8. 2021-03-19
   soldstatus $128,000
9. 2021-03-19
   soldstatus $128,000
10. 2021-03-19
    soldstatus $128,000
11. 2021-03-13
    listed $128,000
12. 2021-03-13
    listed $128,000
13. 2021-03-13
    listed $128,000

ⓘ 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: $1,221 · $102/mo
• Projected year-2 tax: $1,650 · $137/mo
• Expected delta: +$429/yr (+$36/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 2/10 Low 7 d/yr ≥98°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: $14,463
• − Mortgage interest: −$7,562
• − Property taxes: −$1,221
• − Insurance: −$675
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$3,927
• Taxable loss: −$1,236
• Est. tax savings @ 24.0%: +$297
• After-tax cash flow: $1,331/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: Comstock Public Schools
• NCES district ID: 2610590
• Math proficiency: 18% ▼ -2.00%
• Reading proficiency: 32% ▼ -1.00%
• Median HH income: $41,293
• Composite: 21.17/100
• National rank: #8423
• State rank: #428 of 540 in MI

Livability — Comstock Northwest

• Score: 73/100
• State rank: #224
• US rank: #5631

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Kalamazoo County · 224,317 people
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 22,791
• Household income: $60,454
• Rent vs Own: 38.2% rent · 61.8% own
• Severe rent burden: 835.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 20% Hispanic / Latino 7% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 6% Romanian 4% Lithuanian 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 3% Other Indo-European 1%

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: ▼ -205.26%
• Current HPI: 180.4766
• Rent YoY: ▲ 7.88%
• 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

+5.5% since first listed

9 events — show timeline

• 2026-05-27 Listed $135,000 REALCOMP
• 2026-05-27 Listed $135,000 MiRealSource-MiMLS
• 2026-05-27 Listed $135,000 SW Michigan MLS
• 2021-03-19 Sold (MLS) $128,000 MiRealSource-MiMLS
• 2021-03-19 Sold (MLS) $128,000 SW Michigan MLS
• 2021-03-19 Sold (MLS) $128,000 REALCOMP
• 2021-03-13 Listed $128,000 MiRealSource-MiMLS
• 2021-03-13 Listed $128,000 SW Michigan MLS
• 2021-03-13 Listed $128,000 REALCOMP

Property tax history

+5.4%/yr

Latest (2025): $1,221 · +5.3% YoY. Source: county tax records.