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$975,000

Sale Pending
602 N Kalamazoo Ave, Marshall, MI 49068
6 Beds
4 Baths
5,155 Square Feet
1.48 Acres Lot
Built in 1858
Sale Pending
Units n/a
Checked: 18 hours ago
Updated: Jul 29, 2025 at 05:32AM

Investment Summary


Monthly Cash Flow
-$3,903
Cap Rate
1.3%
Cash-on-Cash Return
-20.9%
Debt Coverage Ratio
0.22
Internal Rate of Return (5 years)
-16.2%

Property Description


1.48 Acres Lot
Built in 1858
Sale Pending
Units n/a

WALNUT HILL ~ Stunning 6 bed, 3.5 bath premier 5,000+ sq ft 1857 Historic home on 1.47 acres on Marshall's most beautiful street! Gracefully restored light-filled home w/towering ceilings, custom woodwork, large formal living & dining rooms, cozy family room, 2 fireplaces, a 45' x 20' gathering room w/custom bookcases & French doors overlooking expansive lush yard/gardens & incredible pond/waterfall. Large, updated kitchen opens to family, dining & gathering rooms w/built-in display & storage areas. Main-floor owner's suite/private retreat, w/jetted tub, huge walk-thru custom closet & private laundry. Perfect family & entertainment home! Hardwood floors, 3 furnaces, 2 A/C units, fenced yard, 3 car garages, large studio/office. Walk to downtown—just minutes from Blue Oval Battery Park MI! From the 2025 Marshall Historic Home Tour database: Walnut Hill: A Grand Marshall Residence Nestled on what's often called Marshall's most beautiful street, Walnut Hill at 602 N. Kalamazoo Avenue stands as a premier historical residence. Constructed in 1857 or 1858, this impressive home embodies the grandeur of its era, contributing to the rich tapestry of nineteenth and early twentieth-century architecture found along North Kalamazoo Avenue. While its specific architectural style isn't explicitly defined, its features align with the stately Italianate, Italian Villa, Queen Anne, and Colonial Revival influences prevalent in the area. Spanning over 5,000 finished square feet on nearly an acre and a half, Walnut Hill has always been a property of significant scale. Its original design boasted towering ceilings, custom millwork including 12-inch baseboards and chair rails, elegant transom windows, and original brass fixtures, all set against a backdrop of hardwood floors. The layout offered a magnificent setting for grand living, with a formal living room and fireplace, a spacious dining room featuring built-in china cabinets, and a cozy family room also graced with a fireplace. A truly unique feature was the expansive 45' x 20' gathering room, complete with custom bookcases and French doors, designed for large social events. Six bedrooms and three and a half baths provided ample private quarters, including a main-floor owner's suite with a generous walk-through closet and a large bathroom with a jetted claw-footed tub. A second downstairs bedroom served as a flexible space, perhaps an office with custom cabinetry. Evolution Through the Eras Walnut Hill has seen significant transformations over its long history. It is believed to be one of the two original homes in this section of North Kalamazoo. In the 1980s, Mr. Koenig undertook a comprehensive remodel and addition that updated many aspects of the home. More recently, in 2021, the current owners embarked on an extensive restoration and modernization project. They meticulously addressed years of deferred maintenance, replacing roofs, rebuilding the serene backyard pond and waterfall, and meticulously restoring the grand staircase. Custom woodwork was added to seamlessly match existing historical details. The kitchen received a complete overhaul with new stainless appliances, and essential systems like air conditioning, heating, water heater, water softener, and electrical and gas services were all upgraded. Further enhancements included a custom TV wall, a rebuilt second floor above the double garage, upgraded interior and exterior lighting with accent night lighting, a refurbished master closet, and repairs to flooring and the large back stone patio. The lawn was also resodded, ensuring the property's exterior matched the interior's renewed splendor. Today, Walnut Hill remains a testament to historical elegance, seamlessly blending its original architectural integrity with thoughtfully integrated modern comforts, continuing its legacy as a cornerstone of Marshall's historical residences. https://site.windowstill.com/602-N-Kalamazoo-Ave WALNUT HILL ~ Step into timeless elegance at 602 N Kalamazoo Avenue, a premier Marshall Historical residence nestled on Marshall's most beautiful street and just steps to downtown restaurants, festivals, etc. Listed at $975,000, this gracefully restored 1857 light-filled, traditional home spans over 5,000 finished square feet with towering ceilings, custom built-ins and cabinetry, elegant transom windows, custom window treatments,12" custom baseboards, chair rails, hardwood floors (ceramic floors in bathrooms) and a combination of recessed lighting and original elegant brass lighting fixtures, offering an unmatched blend of charm, comfort, elegance and sophistication. This home is perfect for both family living and entertainment! Boasting 6 bedrooms, 3.5 baths, and a thoughtful floor plan, the home includes large formal living room with fireplace, large dining room with 2 built-in & lighted China cabinets opening to kitchen and gathering room, cozy family room with fireplace and built-in cabinet storage that opens to a secondary brick walled patio, and a stunning windowed French door-lined (with Phantom Screens) 45' x 20' gathering room with custom shelving and cabinets and built-in area for huge flat screen, that seamlessly connects the living spaces while offering picturesque views of the expansive backyard. The massive main-level owner's suite is a private retreat featuring a spacious bedroom, a custom-built 15' x 11' walk-through closet with unlimited storage, jetted claw-footed tub in large and bright bathroom area, private laundry, and direct access to the main patio. The beautifully updated spacious kitchen opens to the family room, gathering room and dining room, and includes custom white wood curved cabinetry, granite countertops, built-in desk and pantry, with storage space galore. Off the kitchen is a staircase that provides secondary access to the upstairs bedrooms. The second downstairs bedroom can be used as an office with white custom curved cabinetry with built-in desk, drawers and cabinets. Upstairs are 4 bedrooms and 2 large baths with a Juliet balcony hallway that overlooks the foyer below. Set on 1.47 picturesque acres, the home features a huge, fenced backyard with a serene pond with waterfall, lush gardens, custom lighting, and a private fieldstone patio perfect for entertaining. You'll enjoy two detached garages with 3 total stalls, and a large, heated, high ceilinged, studio space above for work, fun or creativity. With three furnaces, two central air units, lawn sprinkler system, and a security system, comfort and efficiency meet beauty and function. Private well on-site can be used for pond and irrigation if desired to supplement municipal water to the home. Enjoy walkability to shops, restaurants, and schools, and proximity to Blue Oval Battery Park Michigan, making this an ideal location for modern living in a historic setting.

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Location


Property Details


Parking

  • Description: 3, Attached
  • Details: Detached, Asphalt, Paved
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 6

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Partial): 1
  • # of Baths (Total): 4.0

Interior Features

  • # of Rooms: 11
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Partial
  • Fireplace: Yes

Exterior Features

  • Roof Material: Composition, Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 5300212400
  • Lot Size: 64251 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Historic
  • Year Built: 1858

Tax Information

  • Annual Tax: $24,999

Utilities

  • Water & Sewer: Public
  • Heating: Natural Gas, Forced Air
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Calhoun

Listing Details


Listed by:
Matthew A Davis
Real Estate One Rosemary Davis
(269) 781-9847

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25022600
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$3,903
Cap Rate
1.3%
Cash-on-Cash Return
-20.9%
Debt Coverage Ratio
0.22
Internal Rate of Return (5 years)
-16.2%

Purchase Details

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Purchase price:
$975,000
Amount financed:
-$780,000
Down payment:
$195,000
Closing costs:
$29,250
Rehab costs:
$0
Initial cash invested:
$224,250
Square feet:
5,155
Cost per square foot:
$189
Monthly rent per square foot:
$0.89

Financing Details

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Loan amount:
$780,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$4,994
Property tax:
$2,083
Insurance:
$322
Private mortgage insurance (PMI):
$0
Monthly payment:
$7,399

Operating Income

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% Rent Monthly Yearly
Gross rent:
$4,600 $55,200
Vacancy loss: (6%)
6% -$276 -$3,312
Operating income:
$4,324 $51,888

Operating Expenses


% Rent Monthly Yearly
Property taxes: (45%)
45%-$2,083-$24,999
Insurance: (7%)
7%-$322-$3,864
Property management: (8%)
8%-$368-$4,416
Repairs & maintenance: (5%)
5%-$230-$2,760
Capital expenditures: (5%)
5%-$230-$2,760
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (70%)
70%-$3,233-$38,799

Cash Flow


Monthly Yearly
Net operating income:
$1,091 $13,092
Mortgage payments:
-$4,994 -$59,928
Cash flow:
$3,903 $46,836