7117 Venice Dr · Portage, MI 49024

$310,000

3 bd · 3.0 ba · 2,244 sqft · SingleFamily · 5 Days on market

Built 2003 9,583 sqft lot $138/sqft · 8% below area Est $337k · 8% under

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Why this score? — see what drove the D- 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).

• ARV discount +11.1/15.0
• Cash flow +8.3/30.0
• Schools +4.8/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this freshly painted, well-maintained, one-owner ranch in a desirable Portage neighborhood! Offering over 2,200 finished square feet, this home features a simple, functional layout with additional living space in the finished basement--complete with a full bath and wet bar, perfect for entertaining or hosting guests. Conveniently located near major highways, shopping, and dining, this home combines comfort, convenience, and value. Easy walk to 12th St. Elementary.

Key facts

• Wet bar
• Finished basement
• Full bath

Tags

• FINISHED BASEMENT
• FULL BATH
• WET BAR

Property features AI

Exterior

• Parking: Attached garage; 2-car garage
• Utilities: Public water
• Home design: Ranch-style single-family residence; Built in 2003
• Construction: Vinyl siding; Composition roof; Living area approximately 2,244
• Exterior features: Paved road access; Lot around 0.22 acres

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bathrooms: 3 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Total of 8 rooms; Full basement; Window screens
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $-283 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $269k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $235k (24.1% below list).
• Recommended offer: $235k (24.1% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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 (+6.4%/yr); 185 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 31% of the median local income ($91k/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 $2k of loan paydown is wiped out by about $9k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 23y 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.

Recommended offer $235,344 (24.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.91%
• DSCR: 0.83
• GRM: 11.0

CMA / ARV

• ARV (median comp): $337,288
• List price: $310,000
• Delta: -8.09%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7117 Venice Dr	0.00mi	3/3.0	2,244 (0%)	1mo	$310,000	$138	99
4691 Ashton Farms Blvd	0.07mi	4/2.5 (+1)	2,135 (-5%)	3mo	$372,000	$174	79
4610 Geneva Ave	0.14mi	4/2.5 (+1)	2,034 (-9%)	3mo	$375,000	$184	69
4704 Romence Rd	0.16mi	3/2.0	1,978 (-12%)	5mo	$290,000	$147	65
5103 Brinson Ln	0.65mi	4/2.5 (+1)	2,276 (+1%)	5mo	$434,900	$191	56
6477 Brimley Trl	0.68mi	3/2.5	2,392 (+7%)	1mo	$447,305	$187	55
6736 Pleasantview Dr	0.51mi	4/2.0 (+1)	2,400 (+7%)	1mo	$360,000	$150	55
5207 Brinson Ln	0.70mi	4/2.5 (+1)	2,276 (+1%)	7mo	$434,725	$191	52
5102 Brinson Ln	0.68mi	4/2.5 (+1)	2,393 (+7%)	4mo	$489,900	$205	47
6461 Brimley Ln	0.70mi	4/2.5 (+1)	2,393 (+7%)	3mo	$454,900	$190	46
6782 Southwind St	0.68mi	3/2.0	2,016 (-10%)	8mo	$321,500	$159	41
6971 Annandale Dr	0.71mi	3/2.0	1,946 (-13%)	7mo	$288,000	$148	35

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: -19.2%
• Equity multiple: 0.31×
• Total profit: $-60,005
• Equity at exit: $46,222

10-year hold

• IRR: -6.1%
• Equity multiple: 0.55×
• Total profit: $-39,163
• Equity at exit: $26,803

Cash invested: $86,800 (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 49024

• Rents YoY: 6.4%
• Active inventory: 185
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,353 medium
• Mortgage (P&I): −$1,626
• Tax est. 1.5%: −$388 /mo · $4,650/yr
• Insurance: −$129
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $-283

Break-even live

Break-even rent $2,712

Max offer price $269,033

Occupancy floor —

Sensitivity live

Price	-10% $-69	-5% $-176	+0% $-283	+5% $-390	+10% $-497
Rent	-10% $-469	-5% $-376	+0% $-283	+5% $-190	+10% $-97
Rate	-1.0pp $-127	-0.5pp $-204	base $-283	+0.5pp $-363	+1.0pp $-445

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: $77,500
• Closing costs: $9,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4715 Marcel Ave Portage, MI	3.0	2.0	1632	$2,500	$1.53	44d	1	0.05mi
6219 Silver Fir St Portage, MI	2.0–3.0	1.5–2.5	1387	$2,400	$1.73	14d	7	0.90mi
4211 Beechmount Ave Portage, MI	3.0	1.0	1413	$1,695	$1.20	44d	1	1.34mi

Listing history 10 events

1. 2026-05-06
   status Pending 484-char remark

   Show marketing remark (484 chars)

   Welcome home to this freshly painted, well-maintained, one-owner ranch in a desirable Portage neighborhood! Offering over 2,200 finished square feet, this home features a simple, functional layout with additional living space in the finished basement--complete with a full bath and wet bar, perfect for entertaining or hosting guests. Conveniently located near major highways, shopping, and dining, this home combines comfort, convenience, and value. Easy walk to 12th St. Elementary.

2. 2026-05-06
   status Pending 484-char remark

   Show marketing remark (484 chars)

   Welcome home to this freshly painted, well-maintained, one-owner ranch in a desirable Portage neighborhood! Offering over 2,200 finished square feet, this home features a simple, functional layout with additional living space in the finished basement--complete with a full bath and wet bar, perfect for entertaining or hosting guests. Conveniently located near major highways, shopping, and dining, this home combines comfort, convenience, and value. Easy walk to 12th St. Elementary.

3. 2026-05-06
   status Pending

   Show marketing remark (484 chars)

   Welcome home to this freshly painted, well-maintained, one-owner ranch in a desirable Portage neighborhood! Offering over 2,200 finished square feet, this home features a simple, functional layout with additional living space in the finished basement--complete with a full bath and wet bar, perfect for entertaining or hosting guests. Conveniently located near major highways, shopping, and dining, this home combines comfort, convenience, and value. Easy walk to 12th St. Elementary.

4. 2026-05-01
   listed $310,000 Active 484-char remark

   Show marketing remark (484 chars)

   Welcome home to this freshly painted, well-maintained, one-owner ranch in a desirable Portage neighborhood! Offering over 2,200 finished square feet, this home features a simple, functional layout with additional living space in the finished basement--complete with a full bath and wet bar, perfect for entertaining or hosting guests. Conveniently located near major highways, shopping, and dining, this home combines comfort, convenience, and value. Easy walk to 12th St. Elementary.

5. 2026-05-01
   listed $310,000 Active 484-char remark

   Show marketing remark (484 chars)

   Welcome home to this freshly painted, well-maintained, one-owner ranch in a desirable Portage neighborhood! Offering over 2,200 finished square feet, this home features a simple, functional layout with additional living space in the finished basement--complete with a full bath and wet bar, perfect for entertaining or hosting guests. Conveniently located near major highways, shopping, and dining, this home combines comfort, convenience, and value. Easy walk to 12th St. Elementary.

6. 2026-05-01
   listed $310,000 Active

   Show marketing remark (484 chars)

   Welcome home to this freshly painted, well-maintained, one-owner ranch in a desirable Portage neighborhood! Offering over 2,200 finished square feet, this home features a simple, functional layout with additional living space in the finished basement--complete with a full bath and wet bar, perfect for entertaining or hosting guests. Conveniently located near major highways, shopping, and dining, this home combines comfort, convenience, and value. Easy walk to 12th St. Elementary.

7. 2003-10-15
   soldstatus $152,000
8. 2003-10-15
   soldstatus $152,000
9. 2003-07-09
   listed $149,988
10. 2003-07-09
    listed $149,988

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

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 ≥99°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: $28,241
• − Mortgage interest: −$17,365
• − Property taxes: −$4,650
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,259
• − Management: −$2,259
• − Depreciation: −$9,018
• Taxable loss: −$8,860
• Est. tax savings @ 24.0%: +$2,126
• After-tax cash flow: $-1,271/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

+106.7% since first listed

13 events — show timeline

• 2026-05-27 Sold (MLS) $310,000 MiRealSource-MiMLS
• 2026-05-27 Sold (MLS) $310,000 SW Michigan MLS
• 2026-05-27 Sold (MLS) $310,000 REALCOMP
• 2026-05-06 Pending — MiRealSource-MiMLS
• 2026-05-06 Pending — REALCOMP
• 2026-05-06 Pending — SW Michigan MLS
• 2026-05-01 Listed $310,000 MiRealSource-MiMLS
• 2026-05-01 Listed $310,000 SW Michigan MLS
• 2026-05-01 Listed $310,000 REALCOMP
• 2003-10-15 Sold (MLS) $152,000 REALCOMP
• 2003-10-15 Sold (MLS) $152,000 SW Michigan MLS
• 2003-07-09 Listed $149,988 REALCOMP
• 2003-07-09 Listed $149,988 SW Michigan MLS

Property tax history

+8.1%/yr

Latest (2025): $535 · -87.7% YoY. Source: county tax records.