Pending
515 Wallace Avenue, Kalamazoo, MI 49048
$179,900
MLS # 26026910 (Michigan Regional Information Center (MichRIC))
3 beds1 bath1,157 sqftBuilt 18850.35 acres
1 / 36
Listing Description
515 Wallace is a beautifully renovated 3-bedroom, 1-bath home on a massive city lot. Taken down to the studs and fully renovated in 2021, this property features major upgrades throughout, including a new roof, siding, windows, plumbing, electrical, and furnace. Fresh paint and new flooring were completed in 2026, giving the home a clean, modern feel. The spacious lot offers plenty of outdoor space, while the extensive updates provide peace of mind and move-in-ready convenience. A great opportunity for a homeowner or investor looking for a solid, updated property with long-term value.
Source: SparkMLS
About this home
Located in Kalamazoo in Kalamazoo, this property offers 3-bedroom, 1-bath, 1,157 sq ft, with original construction dating to 1885.
Asking $179,900 (about $155/sq ft).
Annual property taxes run approximately $1,898 ($158/month). Tax figure is from the MLS listing record; verify with the county treasurer for the most current amount.
Electric service is provided by Consumers Energy Company.
Listing Property Details
Property TypeResidential
Property SubtypeSingle Family Residence
Bedrooms3
Bathrooms1
Living Area1,157 sqft
Lot Size0.35 acres
Year Built1885
Stories2
Location
CityKalamazoo
MunicipalityKalamazoo City
Zip Code49048
CountyKalamazoo
School DistrictKalamazoo
Construction & Systems
ConstructionVinyl Siding
BasementFull
HeatingForced Air
WaterPublic
SewerPublic
UtilitiesNatural Gas Connected, Storm Sewer
Sale & Financing
Listed6/3/2026
Terms AcceptedCash, FHA, VA Loan, MSHDA, Conventional
Source: SparkMLS
Tax Information
Annual Tax$1,898
Tax Year2025
Assessed Value$25,482
Parcel #06-14-274-002
Source: SparkMLS
Legal Description
33244 PHELPS ADDITION S 1/2 OF W 14 R OF E 16 R OF LOT 44
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Not Eligible
Verify eligibility at USDAListed by Molly Chipouras
M2 Real Estate Collective
Frequently Asked Questions about 515 Wallace Avenue, Kalamazoo, MI 49048
Which school district serves 515 Wallace Avenue, Kalamazoo, MI 49048?
Per MLS# 26026910, 515 Wallace Avenue, Kalamazoo, MI 49048 is in the Kalamazoo boundaries. School district assignments are determined by property location and may differ from the mailing city. Contact Kalamazoo directly to confirm enrollment eligibility.
What type of financing is accepted for this listing?
Per MLS# 26026910, this listing accepts Cash, FHA, VA Loan, MSHDA, Conventional financing. FHA financing can offer lower down payment requirements for qualified buyers. Financing acceptance is subject to change — confirm with the listing agent.
What are the property taxes at 515 Wallace Avenue, Kalamazoo, MI 49048?
Per public tax records, annual property taxes for this property are $1,898 (2025). Michigan property taxes are based on a property's taxable value multiplied by the local millage rate. Primary residences qualify for a homestead exemption that lowers the rate.
Can I use a USDA Rural Development loan for this property?
Per USDA Rural Development boundary data, 515 Wallace Avenue, Kalamazoo, MI 49048 is not in an eligible area. USDA eligibility is based on property location — properties within designated urban zones are excluded. Other low-down-payment options (FHA, VA) may still be available.
Is 515 Wallace Avenue, Kalamazoo, MI 49048 in a flood zone?
Per FEMA flood maps, this property is designated as Zone X, a minimal-risk flood area. Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
What utilities serve 515 Wallace Avenue, Kalamazoo, MI 49048?
Per Michigan Public Service Commission service territory data: Electric: Consumers Energy Company. Gas: Consumers Energy Company. Sewer: Public. Water: Public. Confirm service details directly with providers.
What is the crime rate in this area?
For crime and public safety data, we recommend inquiring directly with the Kalamazoo City police department or the Kalamazoo County sheriff's office.
Map
Mortgage Calculator
$
%
$
$
$
Monthly payment$1,167
Principal & interest$1,167
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
Consumers Energy Company
Investor-Owned
Consumers Energy Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
515 Wallace Avenue, Kalamazoo, MI 49048
View full property history →
Municipality
Kalamazoo
View all listings →
Get email alerts for new listings near 515 Wallace Avenue
We'll notify you when something hits the market in Kalamazoo or nearby.
Munro Real Estate · MI Broker #6502405404 · No spam, one-click unsubscribe.