1801 Hawk Dr #35 · Kalamazoo, MI 49008

$35,000

2 bd · 2.0 ba · 1,020 sqft · Manufactured · 18 Days on market

Built 2015 Good condition 1,020 sqft lot $580/mo HOA · 48% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.7/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained 2-bedroom, 2-bathroom home offering 1,020 square feet of living space in a convenient Kalamazoo location. The open floor plan features a spacious living area that flows into the galley-style kitchen, complete with abundant cabinet and countertop space for storage and cooking. Both generously sized bedrooms feature large walk-in closets, providing plenty of room for organization. Recent updates include fresh paint and new carpeting in select areas, making this home move-in ready. All appliances are included. Situated on a quiet lot tucked away toward the back of the community, you'll enjoy added privacy and a beautiful shade tree perfect for relaxing outdoors. Residents also enjoy shared access to additional amenities at the neighboring communities, providing even more opportunities for recreation and relaxation. Conveniently located near Kalamazoo College, Western Michigan University, shopping, restaurants, dining, and entertainment, this home offers the perfect blend of comfort and convenience. Don't miss your opportunity to make this affordable and inviting home your own! Located in Twinleaf Manufactured Home Community on a leased lot.

Key facts

• Open floor plan
• Recent updates
• Galley style kitchen

Tags

• OPEN FLOOR PLAN
• GALLEY STYLE KITCHEN
• LARGE WALK IN CLOSETS
• RECENT UPDATES
• SHARED ACCESS TO AMENITIES
• QUIET LOT

Property features AI

Finance

• Other: Pets allowed with breed restrictions; contact for details
• HOA & community: Homeowners association with monthly fee of $580 (includes trash); Community clubhouse

Exterior

• Parking: Driveway; No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Vinyl siding; Pillar/post/pier foundation
• Exterior features: Asphalt roof; Shed(s); Paved road access; Lot dimensions approximately 15 x 68

Interior

• Kitchen: Dishwasher; Gas oven and gas range; Refrigerator; Microwave
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Dishwasher; Free-standing gas oven; Free-standing gas range; Free-standing refrigerator; Microwave; Laundry room
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $35k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $140 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 4.1% 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.
• Market conditions: Rents rising (+2.4%/yr); 116 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $242 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $10k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($34k) 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: HOA is 48% of rent.

Recommended offer $34,475 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 3.48% ✓
• Cap rate: 11.08%
• Cash-on-cash: 17.11%
• DSCR: 1.76
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.41% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.29×
• Total profit: $2,883
• Equity at exit: $5,219

10-year hold

• IRR: 16.2%
• Equity multiple: 2.28×
• Total profit: $12,578
• Equity at exit: $3,026

Cash invested: $9,800 (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 49008

• Rents YoY: 2.4%
• Active inventory: 116
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,217 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$580
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $140

Break-even live

Break-even rent $1,040

Max offer price $35,000

Occupancy floor 84%

Sensitivity live

Price	-10% $164	-5% $152	+0% $140	+5% $128	+10% $116
Rent	-10% $44	-5% $92	+0% $140	+5% $188	+10% $236
Rate	-1.0pp $157	-0.5pp $149	base $140	+0.5pp $131	+1.0pp $121

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3614 Stadium Dr Kalamazoo, MI	1.0–3.0	1.0–2.0	928	$1,324	$1.43	14d	1	0.15mi
4130 W Michigan Ave Kalamazoo, MI	1.0–2.0	1.0–2.0	625	$972	$1.56	14d	4	0.35mi
3409 W Michigan Ave Unit 1 Kalamazoo, MI	2.0	1.5	884	$985	$1.11	14d	1	0.41mi
4346 N Hills Dr Kalamazoo, MI	2.0–4.0	2.0–4.0	1093	$440	$0.40	21d	1	0.44mi
1010 Emajean St Kalamazoo, MI	2.0–4.0	1.0–3.0	1249	$440	$0.35	21d	1	0.55mi
4520 Dover Hills Dr Kalamazoo, MI	1.0–2.0	1.0–2.0	987	$1,525	$1.54	14d	12	0.60mi
1201 Greenwood Ave Unit 1 Kalamazoo, MI	2.0	2.0	1000	$1,200	$1.20	21d	1	0.74mi
704 S Drake Rd Kalamazoo, MI	1.0–3.0	1.0–1.5	887	$1,082	$1.22	14d	16	0.92mi
1800 S 11th St Kalamazoo, MI	1.0–2.0	1.0	635	$999	$1.57	21d	9	1.12mi
690 Dragonfly Rd Kalamazoo, MI	1.0–3.0	1.0–2.0	969	$978	$1.01	14d	32	1.17mi
332 S Kendall Ave Kalamazoo, MI	1.0–2.0	1.0–2.0	780	$1,175	$1.51	21d	4	1.18mi
5500 W KL Ave Kalamazoo, MI	1.0–3.0	1.0–2.0	836	$1,174	$1.40	14d	1	1.21mi
3403 Lowden St Kalamazoo, MI	3.0	1.0	840	$1,500	$1.79	14d	1	1.21mi
320 S Drake Rd Kalamazoo, MI	2.0	1.0	950	$1,020	$1.07	21d	1	1.28mi
167 N Drake Rd Kalamazoo, MI	2.0	2.0	1200	$1,395	$1.16	21d	1	1.31mi
125 S Kendall Ave Kalamazoo, MI	1.0–2.0	1.0–1.5	735	$1,000	$1.36	21d	6	1.33mi
3707 Greenleaf Cir Kalamazoo, MI	1.0–2.0	1.0	862	$1,444	$1.68	14d	22	1.37mi
318 N Sage St Kalamazoo, MI	1.0–2.0	1.0	824	$1,275	$1.55	14d	3	1.48mi

HOA detail

• Monthly dues: $580 · $6,960/yr

Listing history 15 events

1. 2026-06-18
   days on market $35,000 Active 18 DOM
2. 2026-06-17
   days on market $35,000 Active 17 DOM
3. 2026-06-16
   days on market $35,000 Active 16 DOM
4. 2026-06-15
   days on market $35,000 Active 15 DOM
5. 2026-06-14
   days on market $35,000 Active 13 DOM
6. 2026-06-13
   days on market $35,000 Active 12 DOM
7. 2026-06-10
   days on market $35,000 Active 10 DOM
8. 2026-06-09
   days on market $35,000 Active 9 DOM
9. 2026-06-08
   days on market $35,000 Active 8 DOM
10. 2026-06-07
    days on market $35,000 Active 7 DOM
11. 2026-06-05
    days on market $35,000 Active 4 DOM
12. 2026-06-03
    days on market $35,000 Active 3 DOM
13. 2026-06-02
    days on market $35,000 Active 2 DOM
14. 2026-06-01
    remarks 699-char remark
15. 2026-06-01
    listed $35,000 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $14,606
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,169
• − Management: −$1,169
• − HOA: −$6,960
• − Depreciation: −$1,018
• Taxable income: $1,631
• Est. tax owed @ 24.0%: −$391
• After-tax cash flow: $1,285/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 · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained 2-bedroom, 2-bathroom home is move-in ready with a good condition score. It offers a spacious kitchen and bathrooms, and is located in a quiet neighborhood with a beautiful shade tree. The exterior could benefit from a fresh coat of paint to enhance curb appeal and value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Trim and paint exterior trim — Improves curb appeal and value
• Rental Clean and maintain HVAC system — Ensures comfort and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Trim and paint exterior trim — Improves curb appeal and value ↑
• Rental Clean and maintain HVAC system — Ensures comfort and energy efficiency ↑

ⓘ 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: 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): 16,137
• Household income: $74,943
• Rent vs Own: 33.8% rent · 66.2% own
• Severe rent burden: 513.0

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 (75%)
• Race & ethnicity: White 75% Black 12% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Iranian 5% Slovak 3% Romanian 3%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 91% English-only · Spanish 2% Other Indo-European 2% French/Haitian/Cajun 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: ▼ -170.52%
• Current HPI: 230.6876
• Rent YoY: ▲ 2.41%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-31 Listed $35,000 REALCOMP
• 2026-05-31 Listed $35,000 MiRealSource-MiMLS