425 Southland Ave · Portage, MI 49024

$195,000

3 bd · 1.5 ba · 1,688 sqft · SingleFamily · 6 Days on market

Built 1958 9,148 sqft lot Est $290k · 33% 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 +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +5.0/10.0
• Schools +4.8/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great potential with this 1950's quad-level home. The main floor offers a large kitchen and living space, while the upper level offers a full bathroom and three bedrooms. The lower level has a half bathroom and a walk-out to the back yard. The basement offers some additional finished space along with ample storage. The oversized two car detached garage has concrete floors and electric. The back yard is partly fenced offering privacy, while the deck off the living room provides a wonderful place to enjoy the great outdoors. Comes see everything this home could be again.

Key facts

• Finished space
• Full bathroom
• Large kitchen

Tags

• LARGE KITCHEN
• FULL BATHROOM
• HALF BATHROOM
• WALK-OUT TO BACK YARD
• FINISHED SPACE
• AMPLE STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/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 $195k (0.0% below list).
• Recommended offer: $195k (0.0% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.5% 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 (+6.4%/yr); 185 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $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.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $194,947

Questions for the listing agent

1. Built in 1958 — 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: 1.00% ✗
• Cap rate: 7.46%
• Cash-on-cash: 4.18%
• DSCR: 1.19
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $290,336
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
704 Flamingo Ave	0.16mi	3/1.5	1,460 (-14%)	0mo	$255,000	$175	70
629 Southland Ave	0.14mi	3/1.5	1,485 (-12%)	4mo	$245,000	$165	70
706 Southland Ave	0.14mi	4/3.0 (+1)	1,600 (-5%)	8mo	$275,000	$172	67
718 Southland Ave	0.17mi	4/2.0 (+1)	1,920 (+14%)	3mo	$300,000	$156	60
6031 Avon St	0.49mi	4/2.0 (+1)	1,725 (+2%)	9mo	$255,000	$148	59
6303 Surrey St	0.67mi	3/2.5	1,636 (-3%)	2mo	$299,000	$183	58
1619 Bellaire Ave	0.75mi	4/1.5 (+1)	1,658 (-2%)	9mo	$291,250	$176	50
1186 Rainbow Ct	0.74mi	3/2.0	1,563 (-7%)	4mo	$349,900	$224	48
6048 Marlow St	0.63mi	4/1.5 (+1)	1,828 (+8%)	8mo	$335,000	$183	46
6337 Avon St	0.51mi	4/2.5 (+1)	1,918 (+14%)	0mo	$307,500	$160	44
324 Burrwood Ave	0.67mi	2/2.0 (-1)	1,901 (+13%)	3mo	$261,900	$138	38
5824 Concord St	0.57mi	4/2.0 (+1)	1,936 (+15%)	8mo	$279,900	$145	36

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 · 6.36% rent growth · sell at horizon

5-year hold

• IRR: -6.0%
• Equity multiple: 0.77×
• Total profit: $-12,630
• Equity at exit: $29,075

10-year hold

• IRR: 7.3%
• Equity multiple: 1.64×
• Total profit: $34,695
• Equity at exit: $16,860

Cash invested: $54,600 (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 49024

• Rents YoY: 6.4%
• Active inventory: 185
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,949 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$246 /mo · $2,950/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $190

Break-even live

Break-even rent $1,708

Max offer price $195,000

Occupancy floor 85%

Sensitivity live

Price	-10% $301	-5% $246	+0% $190	+5% $135	+10% $80
Rent	-10% $36	-5% $113	+0% $190	+5% $267	+10% $344
Rate	-1.0pp $289	-0.5pp $240	base $190	+0.5pp $140	+1.0pp $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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1309 Warwick St Portage, MI	3.0	2.0	1724	$1,850	$1.07	21d	1	0.56mi
100 E Candlewyck Dr Kalamazoo, MI	1.0–4.0	1.0–2.0	1129	$1,436	$1.27	14d	38	1.44mi

Listing history 11 events

1. 2026-06-13
   status $195,000 Pending 6 DOM
2. 2026-06-10
   days on market $195,000 Active 6 DOM
3. 2026-06-09
   days on market $195,000 Active 5 DOM
4. 2026-06-08
   days on market $195,000 Active 4 DOM
5. 2026-06-07
   statusdays on market $195,000 Active 3 DOM
6. 2026-04-25
   status Pending 575-char remark

   Show marketing remark (575 chars)

   Great potential with this 1950's quad-level home. The main floor offers a large kitchen and living space, while the upper level offers a full bathroom and three bedrooms. The lower level has a half bathroom and a walk-out to the back yard. The basement offers some additional finished space along with ample storage. The oversized two car detached garage has concrete floors and electric. The back yard is partly fenced offering privacy, while the deck off the living room provides a wonderful place to enjoy the great outdoors. Comes see everything this home could be again.

7. 2026-04-25
   status Pending 575-char remark

   Show marketing remark (575 chars)

   Great potential with this 1950's quad-level home. The main floor offers a large kitchen and living space, while the upper level offers a full bathroom and three bedrooms. The lower level has a half bathroom and a walk-out to the back yard. The basement offers some additional finished space along with ample storage. The oversized two car detached garage has concrete floors and electric. The back yard is partly fenced offering privacy, while the deck off the living room provides a wonderful place to enjoy the great outdoors. Comes see everything this home could be again.

8. 2026-04-25
   status Pending

   Show marketing remark (575 chars)

   Great potential with this 1950's quad-level home. The main floor offers a large kitchen and living space, while the upper level offers a full bathroom and three bedrooms. The lower level has a half bathroom and a walk-out to the back yard. The basement offers some additional finished space along with ample storage. The oversized two car detached garage has concrete floors and electric. The back yard is partly fenced offering privacy, while the deck off the living room provides a wonderful place to enjoy the great outdoors. Comes see everything this home could be again.

9. 2026-04-23
   listed $195,000 Active 575-char remark

   Show marketing remark (575 chars)

   Great potential with this 1950's quad-level home. The main floor offers a large kitchen and living space, while the upper level offers a full bathroom and three bedrooms. The lower level has a half bathroom and a walk-out to the back yard. The basement offers some additional finished space along with ample storage. The oversized two car detached garage has concrete floors and electric. The back yard is partly fenced offering privacy, while the deck off the living room provides a wonderful place to enjoy the great outdoors. Comes see everything this home could be again.

10. 2026-04-23
    listed $195,000 Active 575-char remark

    Show marketing remark (575 chars)

    Great potential with this 1950's quad-level home. The main floor offers a large kitchen and living space, while the upper level offers a full bathroom and three bedrooms. The lower level has a half bathroom and a walk-out to the back yard. The basement offers some additional finished space along with ample storage. The oversized two car detached garage has concrete floors and electric. The back yard is partly fenced offering privacy, while the deck off the living room provides a wonderful place to enjoy the great outdoors. Comes see everything this home could be again.

11. 2026-04-23
    listed $195,000 Active

    Show marketing remark (575 chars)

    Great potential with this 1950's quad-level home. The main floor offers a large kitchen and living space, while the upper level offers a full bathroom and three bedrooms. The lower level has a half bathroom and a walk-out to the back yard. The basement offers some additional finished space along with ample storage. The oversized two car detached garage has concrete floors and electric. The back yard is partly fenced offering privacy, while the deck off the living room provides a wonderful place to enjoy the great outdoors. Comes see everything this home could be again.

ⓘ 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: $2,950 · $246/mo
• Projected year-2 tax: $2,977 · $248/mo
• Expected delta: +$26/yr (+$2/mo · 0.9%)

ⓘ 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 3/10 Moderate 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,394
• − Mortgage interest: −$10,923
• − Property taxes: −$2,950
• − Insurance: −$975
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$5,673
• Taxable loss: −$870
• Est. tax savings @ 24.0%: +$209
• After-tax cash flow: $2,493/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): 30,823
• Household income: $91,105
• Rent vs Own: 31.5% rent · 68.5% own
• Severe rent burden: 698.0

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 (78%)
• Race & ethnicity: White 78% Black 7% Two or more races 7% Hispanic / Latino 6% Asian 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Iranian 9% Romanian 5% Italian 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Spanish 3% Other Indo-European 2% Other Asian/Pacific 2%

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: ▼ -239.74%
• Current HPI: 215.2275
• Rent YoY: ▲ 6.36%
• 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

6 events — show timeline

• 2026-04-25 Pending — MiRealSource-MiMLS
• 2026-04-25 Pending — REALCOMP
• 2026-04-25 Pending — SW Michigan MLS
• 2026-04-23 Listed $195,000 REALCOMP
• 2026-04-23 Listed $195,000 SW Michigan MLS
• 2026-04-23 Listed $195,000 MiRealSource-MiMLS

Property tax history

+54.0%/yr

Latest (2025): $2,950 · +3.0% YoY. Source: county tax records.