6824 Oakland Dr · Portage, MI 49024

$250,000

4 bd · 3.0 ba · 2,595 sqft · SingleFamily · 6 Days on market

Built 1955 0.40 ac lot $96/sqft · 26% below area Est $339k · 26% 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).

• ARV discount +15.0/15.0
• Cash flow +13.9/30.0
• Schools +4.8/10.0
• DSCR +4.2/10.0
• Rent growth +4.1/5.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Open House Sat. 5/2 12-2pmOne of a Kind Listing! This unique Portage home on Oakland offers rare potential w/ multi-generational layout on a beautiful lot. The backyard is private, featuring an in-ground pool with a slide and a large deck for entertaining. Inside, the main floor provides a functional flow with two bedrooms and full bath for convenient main floor living. Kitchen featuring a built-in desk & large living room with a stone fireplace. The fully finished basement serves as an entertainment hub with a wet bar, a full bathroom, bonus room, and a laundry room. The upper level is specifically designed for independent living, boasting two bedrooms, a full kitchen, and separate access via the mudroom-ideal for multi-generational living. Whether you need dedicated space for work, play, or multi-family living, this home delivers unmatched versatility in a prime location. Experience the perfect blend of style and utility in this standout property that caters to every stage of life.

Key facts

• 0.4 acre lot
• 2 garage spots
• Pool

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Garage faces front; Asphalt driveway; Garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Wood siding; Asphalt roof; Built with a full foundation
• Exterior features: Deck; Full backyard fencing; In-ground pool; Paved public road access; Sidewalks

Interior

• Kitchen: Microwave; Oven; Range; Refrigerator; Bar fridge
• Bedrooms: Total rooms: 11
• Flooring: Carpet; Laminate; Wood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Forced air heating (natural gas)
• Interior features: Wet bar; Screens and storm windows; Basement (full); Fireplace in family room
• Laundry & utility: Washer; Dryer; Gas water heater; Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $29 ($352/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 $224k (10.3% below list).
• Recommended offer: $224k (10.3% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.2% 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; 1 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 $2k of loan paydown is wiped out by about $8k 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 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $224,304 (10.3% below list)

Questions for the listing agent

1. Built in 1955 — 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: 0.90% ✗
• Cap rate: 6.43%
• Cash-on-cash: 0.50%
• DSCR: 1.02
• GRM: 9.3

CMA / ARV

• ARV (median comp): $338,594
• List price: $250,000
• Delta: -26.17%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6824 Oakland Dr	0.00mi	4/3.0	2,595 (0%)	0mo	$275,100	$106	100
6439 Cypress St	0.48mi	3/3.0 (-1)	2,570 (-1%)	7mo	$340,000	$132	65
1510 Greenview Ave	0.39mi	3/3.0 (-1)	2,369 (-9%)	1mo	$318,804	$135	62
6519 Trotwood St	0.36mi	4/1.5	2,356 (-9%)	3mo	$341,500	$145	60
1627 Whitby Ave	0.54mi	4/2.5	2,438 (-6%)	8mo	$315,000	$129	56
2711 Coachlite Ave	0.53mi	4/2.5	2,418 (-7%)	9mo	$380,000	$157	55
6648 Cypress St	0.37mi	5/2.0 (+1)	2,314 (-11%)	3mo	$365,000	$158	53
1608 Edington St	0.51mi	4/2.0	2,310 (-11%)	3mo	$325,000	$141	51
1828 Woodland Dr	0.44mi	3/2.5 (-1)	2,298 (-11%)	6mo	$252,500	$110	48
2408 Kalarama Ave	0.62mi	4/2.5	2,880 (+11%)	7mo	$435,000	$151	45
1139 Somerset Bluff Trl	0.61mi	4/3.5	2,885 (+11%)	8mo	$387,500	$134	44
6238 Hampton St	0.60mi	5/2.5 (+1)	2,908 (+12%)	5mo	$333,500	$115	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 · 6.36% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.56×
• Total profit: $-30,759
• Equity at exit: $37,276

10-year hold

• IRR: 1.8%
• Equity multiple: 1.15×
• Total profit: $10,266
• Equity at exit: $21,615

Cash invested: $70,000 (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: 9.3×

Monthly cashflow live

• Estimated rent: $2,243 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$327 /mo · $3,929/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$471
• Net cashflow: $29

Break-even live

Break-even rent $2,206

Max offer price $250,000

Occupancy floor 94%

Sensitivity live

Price	-10% $171	-5% $100	+0% $29	+5% $-41	+10% $-112
Rent	-10% $-148	-5% $-59	+0% $29	+5% $118	+10% $207
Rate	-1.0pp $155	-0.5pp $93	base $29	+0.5pp $-35	+1.0pp $-101

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7741 Walcott St Portage, MI	4.0	1.5	1800	$2,200	$1.22	44d	1	0.96mi

Listing history 7 events

1. 2026-06-13
   listing id $250,000 Pending 6 DOM
2. 2026-05-04
   status Pending 1004-char remark

   Show marketing remark (1004 chars)

   Open House Sat. 5/2 12-2pm One of a Kind Listing! This unique Portage home on Oakland offers rare potential w/ multi-generational layout on a beautiful lot. The backyard is private, featuring an in-ground pool with a slide and a large deck for entertaining. Inside, the main floor provides a functional flow with two bedrooms and full bath for convenient main floor living. Kitchen featuring a built-in desk & large living room with a stone fireplace. The fully finished basement serves as an entertainment hub with a wet bar, a full bathroom, bonus room, and a laundry room. The upper level is specifically designed for independent living, boasting two bedrooms, a full kitchen, and separate access via the mudroom-ideal for multi-generational living. Whether you need dedicated space for work, play, or multi-family living, this home delivers unmatched versatility in a prime location. Experience the perfect blend of style and utility in this standout property that caters to every stage of life.

3. 2026-05-04
   status Pending 1004-char remark

   Show marketing remark (1004 chars)

   Open House Sat. 5/2 12-2pm One of a Kind Listing! This unique Portage home on Oakland offers rare potential w/ multi-generational layout on a beautiful lot. The backyard is private, featuring an in-ground pool with a slide and a large deck for entertaining. Inside, the main floor provides a functional flow with two bedrooms and full bath for convenient main floor living. Kitchen featuring a built-in desk & large living room with a stone fireplace. The fully finished basement serves as an entertainment hub with a wet bar, a full bathroom, bonus room, and a laundry room. The upper level is specifically designed for independent living, boasting two bedrooms, a full kitchen, and separate access via the mudroom-ideal for multi-generational living. Whether you need dedicated space for work, play, or multi-family living, this home delivers unmatched versatility in a prime location. Experience the perfect blend of style and utility in this standout property that caters to every stage of life.

4. 2026-05-04
   status Pending

   Show marketing remark (1004 chars)

   Open House Sat. 5/2 12-2pm One of a Kind Listing! This unique Portage home on Oakland offers rare potential w/ multi-generational layout on a beautiful lot. The backyard is private, featuring an in-ground pool with a slide and a large deck for entertaining. Inside, the main floor provides a functional flow with two bedrooms and full bath for convenient main floor living. Kitchen featuring a built-in desk & large living room with a stone fireplace. The fully finished basement serves as an entertainment hub with a wet bar, a full bathroom, bonus room, and a laundry room. The upper level is specifically designed for independent living, boasting two bedrooms, a full kitchen, and separate access via the mudroom-ideal for multi-generational living. Whether you need dedicated space for work, play, or multi-family living, this home delivers unmatched versatility in a prime location. Experience the perfect blend of style and utility in this standout property that caters to every stage of life.

5. 2026-04-28
   listed $250,000 Active 1004-char remark

   Show marketing remark (1004 chars)

   Open House Sat. 5/2 12-2pm One of a Kind Listing! This unique Portage home on Oakland offers rare potential w/ multi-generational layout on a beautiful lot. The backyard is private, featuring an in-ground pool with a slide and a large deck for entertaining. Inside, the main floor provides a functional flow with two bedrooms and full bath for convenient main floor living. Kitchen featuring a built-in desk & large living room with a stone fireplace. The fully finished basement serves as an entertainment hub with a wet bar, a full bathroom, bonus room, and a laundry room. The upper level is specifically designed for independent living, boasting two bedrooms, a full kitchen, and separate access via the mudroom-ideal for multi-generational living. Whether you need dedicated space for work, play, or multi-family living, this home delivers unmatched versatility in a prime location. Experience the perfect blend of style and utility in this standout property that caters to every stage of life.

6. 2026-04-28
   listed $250,000 Active 1004-char remark

   Show marketing remark (1004 chars)

   Open House Sat. 5/2 12-2pm One of a Kind Listing! This unique Portage home on Oakland offers rare potential w/ multi-generational layout on a beautiful lot. The backyard is private, featuring an in-ground pool with a slide and a large deck for entertaining. Inside, the main floor provides a functional flow with two bedrooms and full bath for convenient main floor living. Kitchen featuring a built-in desk & large living room with a stone fireplace. The fully finished basement serves as an entertainment hub with a wet bar, a full bathroom, bonus room, and a laundry room. The upper level is specifically designed for independent living, boasting two bedrooms, a full kitchen, and separate access via the mudroom-ideal for multi-generational living. Whether you need dedicated space for work, play, or multi-family living, this home delivers unmatched versatility in a prime location. Experience the perfect blend of style and utility in this standout property that caters to every stage of life.

7. 2026-04-28
   listed $250,000 Active

   Show marketing remark (1004 chars)

   Open House Sat. 5/2 12-2pm One of a Kind Listing! This unique Portage home on Oakland offers rare potential w/ multi-generational layout on a beautiful lot. The backyard is private, featuring an in-ground pool with a slide and a large deck for entertaining. Inside, the main floor provides a functional flow with two bedrooms and full bath for convenient main floor living. Kitchen featuring a built-in desk & large living room with a stone fireplace. The fully finished basement serves as an entertainment hub with a wet bar, a full bathroom, bonus room, and a laundry room. The upper level is specifically designed for independent living, boasting two bedrooms, a full kitchen, and separate access via the mudroom-ideal for multi-generational living. Whether you need dedicated space for work, play, or multi-family living, this home delivers unmatched versatility in a prime location. Experience the perfect blend of style and utility in this standout property that caters to every stage of life.

ⓘ 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: $3,929 · $327/mo
• Projected year-2 tax: $3,929 · $327/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 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: $26,916
• − Mortgage interest: −$14,004
• − Property taxes: −$3,929
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,153
• − Management: −$2,153
• − Depreciation: −$7,273
• Taxable loss: −$3,846
• Est. tax savings @ 24.0%: +$923
• After-tax cash flow: $1,275/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

+10.0% since first listed

9 events — show timeline

• 2026-06-12 Sold (MLS) $275,100 SW Michigan MLS
• 2026-06-12 Sold (MLS) $275,100 MiRealSource-MiMLS
• 2026-06-12 Sold (MLS) $275,100 REALCOMP
• 2026-05-04 Pending — REALCOMP
• 2026-05-04 Pending — MiRealSource-MiMLS
• 2026-05-04 Pending — SW Michigan MLS
• 2026-04-28 Listed $250,000 SW Michigan MLS
• 2026-04-28 Listed $250,000 MiRealSource-MiMLS
• 2026-04-28 Listed $250,000 REALCOMP

Property tax history

+54.0%/yr

Latest (2025): $3,929 · +3.0% YoY. Source: county tax records.