2059 Topaz Ln · Portage, MI 49002

$240,500

3 bd · 2.5 ba · 1,504 sqft · SingleFamily · 96 Days on market

Built 2026 Good condition 8,059 sqft lot $160/sqft · 6% below area Est $257k · 6% 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 +14.9/30.0
• ARV discount +10.4/15.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to Stanwood Crossings, a new Portage community that makes homeownership attainable for middle-income buyers through an innovative ground lease model. This brand-new, energy-efficient home by AVB Homes offers modern design, quality construction, and thoughtful features tailored to today's lifestyle. The Cedar floor plan provides approximately 1,504 square feet of well-designed living space with an open-concept main level ideal for both daily living and entertaining. The stylish kitchen is finished with quartz countertops and flows seamlessly into the dining and living areas, creating a bright and inviting atmosphere. Luxury vinyl flooring throughout the main living spaces offers durability, comfort, and a contemporary look. Upstairs, you'll find a spacious primary suite with a walk-in closet and private bath, along with two additional bedrooms and a full bathroom -- offering flexibility for family, guests, or a home office. This home is built with energy efficiency in mind, helping to reduce utility costs while enhancing year-round comfort. The attached two-car garage includes an electrical hookup ready for an electric vehicle charger, adding convenience and future-forward functionality. The exterior features low-maintenance vinyl siding, providing long-lasting curb appeal with minimal upkeep. Thoughtfully designed and newly constructed, this home offers the peace of mind that comes with modern building standards and materials. Whether you're looking for efficient living, modern finishes, or a home built for the future, the Dellwood by AVB Homes delivers comfort, style, and value in one beautifully designed package. Please review the Orientation documentation for more information about qualifying for purchase of this home.

Key facts

• Quartz countertops
• Stylish kitchen
• 8,059 sq ft lot

Tags

• ENERGY EFFICIENT HOME
• OPEN CONCEPT MAIN LEVEL
• STYLISH KITCHEN
• QUARTZ COUNTERTOPS
• LUXURY VINYL FLOORING
• SPACIOUS PRIMARY SUITE

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $240k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $71 ($853/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 $219k (8.8% below list).
• Recommended offer: $219k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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 36% 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 96 days — a 9% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $218,855 (9.0% below list)

Questions for the listing agent

1. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.91% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (median comp): $256,976
• List price: $240,500
• Delta: -6.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2085 Topaz Ln	0.00mi	3/2.0	1,353 (-10%)	2mo	$228,500	$169	80
9935 Mariner St	0.29mi	4/3.0 (+1)	1,535 (+2%)	3mo	$409,900	$267	74
2403 Portside Ave	0.28mi	3/2.0	1,510 (+0%)	20mo	$333,000	$221	68
1420 Lakeview Dr	0.46mi	3/2.0	1,528 (+2%)	11mo	$225,000	$147	65
1625 S Shore Dr	0.38mi	3/2.0	1,485 (-1%)	23mo	$265,000	$178	59
1308 Lakeview Dr	0.53mi	3/2.0	1,579 (+5%)	7mo	$245,000	$155	59
2253 Portside Ave	0.20mi	3/2.0	1,613 (+7%)	22mo	$365,000	$226	58
10094 Woodlawn Dr	0.47mi	4/1.5 (+1)	1,430 (-5%)	14mo	$275,000	$192	49
2143 Ames Dr	0.73mi	3/2.0	1,590 (+6%)	12mo	$300,000	$189	44
9810 Pine View Dr	0.45mi	3/2.0	1,330 (-12%)	19mo	$279,000	$210	42
10032 Portage Rd	0.42mi	4/2.0 (+1)	1,694 (+13%)	15mo	$237,000	$140	40

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: -8.8%
• Equity multiple: 0.66×
• Total profit: $-22,816
• Equity at exit: $35,859

10-year hold

• IRR: 6.3%
• Equity multiple: 1.58×
• Total profit: $38,866
• Equity at exit: $20,794

Cash invested: $67,340 (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: 9.1×

Monthly cashflow live

• Estimated rent: $2,194 medium
• Mortgage (P&I): −$1,261
• Tax est. 1.5%: −$301 /mo · $3,608/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $71

Break-even live

Break-even rent $2,104

Max offer price $240,500

Occupancy floor 92%

Sensitivity live

Price	-10% $237	-5% $154	+0% $71	+5% $-12	+10% $-95
Rent	-10% $-102	-5% $-16	+0% $71	+5% $158	+10% $244
Rate	-1.0pp $192	-0.5pp $132	base $71	+0.5pp $9	+1.0pp $-55

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: $60,125
• Closing costs: $7,215
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1847 Bluff Ridge Ct Portage, MI	3.0	2.0	1610	$2,995	$1.86	22d	1	0.29mi

Listing history 17 events

1. 2026-06-15
   status $240,500 Pending 96 DOM
2. 2026-06-15
   days on market $240,500 Active 96 DOM
3. 2026-06-14
   days on market $240,500 Active 94 DOM
4. 2026-06-13
   days on market $240,500 Active 93 DOM
5. 2026-06-10
   days on market $240,500 Active 91 DOM
6. 2026-06-09
   days on market $240,500 Active 90 DOM
7. 2026-06-08
   days on market $240,500 Active 89 DOM
8. 2026-06-07
   days on market $240,500 Active 88 DOM
9. 2026-06-05
   days on market $240,500 Active 85 DOM
10. 2026-06-03
    days on market $240,500 Active 84 DOM
11. 2026-06-02
    days on market $240,500 Active 83 DOM
12. 2026-06-01
    days on market $240,500 Active 82 DOM
13. 2026-05-31
    days on market $240,500 Active 81 DOM
14. 2026-05-30
    days on market $240,500 Active 80 DOM
15. 2026-03-11
    listed $240,500 Active 1774-char remark

    Show marketing remark (949 chars)

    Welcome home to Stanwood Crossings, a new Portage community that makes homeownership attainable for middle-income buyers through an innovative ground lease model. This brand-new, energy-efficient home by AVB Homes offers modern design, quality construction, and thoughtful features tailored to today's lifestyle. The Cedar floor plan provides approximately 1,504 square feet of well-designed living space with an open-concept main level ideal for both daily living and entertaining. The stylish kitchen is finished with quartz countertops and flows seamlessly into the dining and living areas, creating a bright and inviting atmosphere. Luxury vinyl flooring throughout the main living spaces offers durability, comfort, and a contemporary look. Upstairs, you'll find a spacious primary suite with a walk-in closet and private bath, along with two additional bedrooms and a full bathroom -- offering flexibility for family, guests, or a home office.

16. 2026-03-11
    listed $240,500 Active 949-char remark

    Show marketing remark (949 chars)

    Welcome home to Stanwood Crossings, a new Portage community that makes homeownership attainable for middle-income buyers through an innovative ground lease model. This brand-new, energy-efficient home by AVB Homes offers modern design, quality construction, and thoughtful features tailored to today's lifestyle. The Cedar floor plan provides approximately 1,504 square feet of well-designed living space with an open-concept main level ideal for both daily living and entertaining. The stylish kitchen is finished with quartz countertops and flows seamlessly into the dining and living areas, creating a bright and inviting atmosphere. Luxury vinyl flooring throughout the main living spaces offers durability, comfort, and a contemporary look. Upstairs, you'll find a spacious primary suite with a walk-in closet and private bath, along with two additional bedrooms and a full bathroom -- offering flexibility for family, guests, or a home office.

17. 2026-03-11
    listed $240,500 Active

    Show marketing remark (949 chars)

    Welcome home to Stanwood Crossings, a new Portage community that makes homeownership attainable for middle-income buyers through an innovative ground lease model. This brand-new, energy-efficient home by AVB Homes offers modern design, quality construction, and thoughtful features tailored to today's lifestyle. The Cedar floor plan provides approximately 1,504 square feet of well-designed living space with an open-concept main level ideal for both daily living and entertaining. The stylish kitchen is finished with quartz countertops and flows seamlessly into the dining and living areas, creating a bright and inviting atmosphere. Luxury vinyl flooring throughout the main living spaces offers durability, comfort, and a contemporary look. Upstairs, you'll find a spacious primary suite with a walk-in closet and private bath, along with two additional bedrooms and a full bathroom -- offering flexibility for family, guests, or a home office.

ⓘ 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 6 d/yr ≥98°F today · 13 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: $26,326
• − Mortgage interest: −$13,472
• − Property taxes: −$3,608
• − Insurance: −$1,202
• − Repairs & maintenance: −$2,106
• − Management: −$2,106
• − Depreciation: −$6,996
• Taxable loss: −$3,164
• Est. tax savings @ 24.0%: +$759
• After-tax cash flow: $1,613/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This brand-new, energy-efficient home by AVB Homes offers modern design, quality construction, and thoughtful features tailored to today's lifestyle. The Cedar floor plan provides approximately 1,504 square feet of well-designed living space with an open-concept main level ideal for both daily living and entertaining.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and attractive to potential buyers/tenants.
• Both Upgrading the kitchen appliances — Upgrading to more modern or energy-efficient appliances can increase the home's value and appeal to a broader market.
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and make it more inviting to potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and attractive to potential buyers/tenants. ↑
• Both Upgrading the kitchen appliances — Upgrading to more modern or energy-efficient appliances can increase the home's value and appeal to a broader market. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and make it more inviting to potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.0% since first listed

3 events — show timeline

• 2026-03-11 Listed $240,500 REALCOMP
• 2026-03-11 Listed $240,500 MiRealSource-MiMLS
• 2026-03-11 Listed $240,500 SW Michigan MLS