5551 S Sprinkle Rd · Portage, MI 49002

$204,900

3 bd · 1.5 ba · 1,759 sqft · SingleFamily · 5 Days on market

Built 1963 8,276 sqft lot Est $223k · 8% 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 +20.0/30.0
• ARV discount +11.2/15.0
• DSCR +6.4/10.0
• Rent growth +5.0/5.0
• 1% rule +4.8/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

HIGHEST AND BEST 4/17 FRIDAY 9PM OPEN HOUSE CANCELLEDWelcome to 5551 S Sprinkle Rd in the highly sought-after Portage area, located within the highly rated Portage Public School system. Just minutes from shopping, dining, and everyday conveniences, this beautifully maintained home stands out with pride of ownership throughout. After 33 years of ownership, this home is ready to be yours. Meticulously cared for and thoughtfully updated, major improvements include newer furnace, A/C, roof, siding, updated electrical and panel, water heater, fence, and more! The kitchen has been tastefully remodeled, offering a functional layout with timeless appeal. From top to bottom, this home has been well maintained to provide peace of mind and true move-in-ready convenience. Whether you're a first-time buyer or looking to upgrade, this property offers the perfect blend of comfort, reliability, and location.

Key facts

• Updated electrical
• Roof
• Newer furnace

Tags

• NEWER FURNACE
• A/C
• ROOF
• SIDING
• UPDATED ELECTRICAL
• WATER HEATER

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $205k.

Deal economics

• At list price, monthly cash flow is $253 ($3k/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 $201k (1.8% below list).
• Recommended offer: $201k (1.8% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.3% in Portage — 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 79/100 on livability (#90 in MI, #2,044 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime D+, amenities D-, commute F.
• Portage Public Schools (urban): math 48% / reading 63% proficiency, ranked #67 of 540 in MI (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+11.3%/yr); 127 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).
• This rent runs 33% of the median local income ($74k/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 $6k 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 + 8.0% rent growth), your $57k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 38y 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.
• Current owner paid $51k; list at $205k implies a 302% gain — meaningful room to come down on a strong offer.

Recommended offer $201,113 (1.8% below list)

Questions for the listing agent

1. Built in 1963 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 0.98% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.29%
• DSCR: 1.24
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $223,393
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5551 S Sprinkle Rd	0.00mi	3/1.5	1,759 (0%)	1mo	$223,000	$127	99
5639 S Sprinkle Rd	0.08mi	4/2.0 (+1)	1,778 (+1%)	3mo	$225,900	$127	85
5724 Cranston St	0.29mi	4/1.5 (+1)	1,797 (+2%)	0mo	$265,000	$147	78
5715 Cranston St	0.31mi	3/2.0	1,728 (-2%)	8mo	$220,000	$127	73
5637 Cheshire St	0.19mi	3/1.0	1,660 (-6%)	20mo	$229,900	$138	63
4316 Farnham Ave	0.38mi	3/2.0	1,610 (-8%)	4mo	$244,500	$152	63
5837 Meredith St	0.34mi	3/1.5	1,864 (+6%)	15mo	$233,500	$125	62
4224 Winthrop Ave	0.17mi	4/1.5 (+1)	1,668 (-5%)	22mo	$244,999	$147	60
5509 Bedford St	0.48mi	4/2.0 (+1)	1,700 (-3%)	8mo	$195,000	$115	59
5822 Cranston St	0.34mi	4/2.0 (+1)	1,888 (+7%)	22mo	$170,000	$90	47
5533 Bedford St	0.47mi	4/2.0 (+1)	1,940 (+10%)	16mo	$220,000	$113	41

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-6,474
• Equity at exit: $30,551

10-year hold

• IRR: 11.5%
• Equity multiple: 2.11×
• Total profit: $63,415
• Equity at exit: $17,716

Cash invested: $57,372 (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 49002

• Rents YoY: 11.3%
• Active inventory: 127
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,011 medium
• Mortgage (P&I): −$1,075
• Tax from tax record: −$176 /mo · $2,110/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $253

Break-even live

Break-even rent $1,691

Max offer price $204,900

Occupancy floor 82%

Sensitivity live

Price	-10% $369	-5% $311	+0% $253	+5% $195	+10% $137
Rent	-10% $94	-5% $174	+0% $253	+5% $333	+10% $412
Rate	-1.0pp $356	-0.5pp $305	base $253	+0.5pp $200	+1.0pp $146

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: $51,225
• Closing costs: $6,147
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5141 S Wagon Trl Kalamazoo, MI	3.0	1.0–2.0	1055	$2,050	$1.94	45d	16	0.70mi

Listing history 16 events

1. 2026-04-19
   status Pending 905-char remark

   Show marketing remark (905 chars)

   HIGHEST AND BEST 4/17 FRIDAY 9PM OPEN HOUSE CANCELLEDWelcome to 5551 S Sprinkle Rd in the highly sought-after Portage area, located within the highly rated Portage Public School system. Just minutes from shopping, dining, and everyday conveniences, this beautifully maintained home stands out with pride of ownership throughout. After 33 years of ownership, this home is ready to be yours. Meticulously cared for and thoughtfully updated, major improvements include newer furnace, A/C, roof, siding, updated electrical and panel, water heater, fence, and more! The kitchen has been tastefully remodeled, offering a functional layout with timeless appeal. From top to bottom, this home has been well maintained to provide peace of mind and true move-in-ready convenience. Whether you're a first-time buyer or looking to upgrade, this property offers the perfect blend of comfort, reliability, and location.

2. 2026-04-19
   status Pending 905-char remark

   Show marketing remark (905 chars)

   HIGHEST AND BEST 4/17 FRIDAY 9PM OPEN HOUSE CANCELLEDWelcome to 5551 S Sprinkle Rd in the highly sought-after Portage area, located within the highly rated Portage Public School system. Just minutes from shopping, dining, and everyday conveniences, this beautifully maintained home stands out with pride of ownership throughout. After 33 years of ownership, this home is ready to be yours. Meticulously cared for and thoughtfully updated, major improvements include newer furnace, A/C, roof, siding, updated electrical and panel, water heater, fence, and more! The kitchen has been tastefully remodeled, offering a functional layout with timeless appeal. From top to bottom, this home has been well maintained to provide peace of mind and true move-in-ready convenience. Whether you're a first-time buyer or looking to upgrade, this property offers the perfect blend of comfort, reliability, and location.

3. 2026-04-19
   status Pending

   Show marketing remark (905 chars)

   HIGHEST AND BEST 4/17 FRIDAY 9PM OPEN HOUSE CANCELLEDWelcome to 5551 S Sprinkle Rd in the highly sought-after Portage area, located within the highly rated Portage Public School system. Just minutes from shopping, dining, and everyday conveniences, this beautifully maintained home stands out with pride of ownership throughout. After 33 years of ownership, this home is ready to be yours. Meticulously cared for and thoughtfully updated, major improvements include newer furnace, A/C, roof, siding, updated electrical and panel, water heater, fence, and more! The kitchen has been tastefully remodeled, offering a functional layout with timeless appeal. From top to bottom, this home has been well maintained to provide peace of mind and true move-in-ready convenience. Whether you're a first-time buyer or looking to upgrade, this property offers the perfect blend of comfort, reliability, and location.

4. 2026-04-13
   listed $204,900 Active 905-char remark

   Show marketing remark (905 chars)

   HIGHEST AND BEST 4/17 FRIDAY 9PM OPEN HOUSE CANCELLEDWelcome to 5551 S Sprinkle Rd in the highly sought-after Portage area, located within the highly rated Portage Public School system. Just minutes from shopping, dining, and everyday conveniences, this beautifully maintained home stands out with pride of ownership throughout. After 33 years of ownership, this home is ready to be yours. Meticulously cared for and thoughtfully updated, major improvements include newer furnace, A/C, roof, siding, updated electrical and panel, water heater, fence, and more! The kitchen has been tastefully remodeled, offering a functional layout with timeless appeal. From top to bottom, this home has been well maintained to provide peace of mind and true move-in-ready convenience. Whether you're a first-time buyer or looking to upgrade, this property offers the perfect blend of comfort, reliability, and location.

5. 2026-04-13
   listed $204,900 Active 905-char remark

   Show marketing remark (905 chars)

   HIGHEST AND BEST 4/17 FRIDAY 9PM OPEN HOUSE CANCELLEDWelcome to 5551 S Sprinkle Rd in the highly sought-after Portage area, located within the highly rated Portage Public School system. Just minutes from shopping, dining, and everyday conveniences, this beautifully maintained home stands out with pride of ownership throughout. After 33 years of ownership, this home is ready to be yours. Meticulously cared for and thoughtfully updated, major improvements include newer furnace, A/C, roof, siding, updated electrical and panel, water heater, fence, and more! The kitchen has been tastefully remodeled, offering a functional layout with timeless appeal. From top to bottom, this home has been well maintained to provide peace of mind and true move-in-ready convenience. Whether you're a first-time buyer or looking to upgrade, this property offers the perfect blend of comfort, reliability, and location.

6. 2026-04-13
   listed $204,900 Active

   Show marketing remark (905 chars)

   HIGHEST AND BEST 4/17 FRIDAY 9PM OPEN HOUSE CANCELLEDWelcome to 5551 S Sprinkle Rd in the highly sought-after Portage area, located within the highly rated Portage Public School system. Just minutes from shopping, dining, and everyday conveniences, this beautifully maintained home stands out with pride of ownership throughout. After 33 years of ownership, this home is ready to be yours. Meticulously cared for and thoughtfully updated, major improvements include newer furnace, A/C, roof, siding, updated electrical and panel, water heater, fence, and more! The kitchen has been tastefully remodeled, offering a functional layout with timeless appeal. From top to bottom, this home has been well maintained to provide peace of mind and true move-in-ready convenience. Whether you're a first-time buyer or looking to upgrade, this property offers the perfect blend of comfort, reliability, and location.

7. 2022-05-25
   historical
8. 1992-10-17
   soldstatus $51,000
9. 1992-10-17
   soldstatus $51,000
10. 1992-06-16
    listed $53,900
11. 1992-06-16
    listed $53,900
12. 1992-05-22
    historical
13. 1991-12-17
    listed $54,923
14. 1991-12-17
    listed $54,923
15. 1988-09-14
    listed $39,900
16. 1988-09-14
    listed $39,900

ⓘ 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: $2,110 · $176/mo
• Projected year-2 tax: $2,633 · $219/mo
• Expected delta: +$523/yr (+$44/mo · 24.8%)

ⓘ 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 · 15 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: $24,134
• − Mortgage interest: −$11,478
• − Property taxes: −$2,110
• − Insurance: −$1,024
• − Repairs & maintenance: −$1,931
• − Management: −$1,931
• − Depreciation: −$5,961
• Taxable loss: −$300
• Est. tax savings @ 24.0%: +$72
• After-tax cash flow: $3,109/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: Portage Public Schools
• NCES district ID: 2628950
• Math proficiency: 48% ▼ -9.00%
• Reading proficiency: 63% ▼ -2.00%
• Median HH income: $61,322
• Composite: 48.37/100
• National rank: #2142
• State rank: #67 of 540 in MI

Livability — Portage

• Score: 79/100
• State rank: #90
• US rank: #2044

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Portage, MI
• County: Kalamazoo County · 224,317 people
• City population: 50,560
• Metro: Kalamazoo-Portage, MI
• Population (ZIP): 19,737
• Household income: $73,647
• Rent vs Own: 29.3% rent · 70.7% own
• Severe rent burden: 462.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 8% Hispanic / Latino 5% Black 4%
• Common ancestry: Iranian 9% Romanian 6% Portuguese 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 2% Russian/Polish/Slavic 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: ▼ -319.17%
• Current HPI: 219.4489
• Rent YoY: ▲ 11.29%
• 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

+413.5% since first listed

16 events — show timeline

• 2026-04-19 Pending — REALCOMP
• 2026-04-19 Pending — MiRealSource-MiMLS
• 2026-04-19 Pending — SW Michigan MLS
• 2026-04-13 Listed $204,900 SW Michigan MLS
• 2026-04-13 Listed $204,900 MiRealSource-MiMLS
• 2026-04-13 Listed $204,900 REALCOMP
• 2022-05-25 Listing Removed — REALCOMP
• 1992-10-17 Sold (MLS) $51,000 REALCOMP
• 1992-10-17 Sold (MLS) $51,000 SW Michigan MLS
• 1992-06-16 Listed $53,900 REALCOMP
• 1992-06-16 Listed $53,900 SW Michigan MLS
• 1992-05-22 Listing Removed — SW Michigan MLS
• 1991-12-17 Listed $54,923 SW Michigan MLS
• 1991-12-17 Listed $54,923 REALCOMP
• 1988-09-14 Listed $39,900 REALCOMP
• 1988-09-14 Listed $39,900 SW Michigan MLS

Property tax history

+47.1%/yr

Latest (2025): $2,110 · +0.5% YoY. Source: county tax records.