2051 Topaz Ln · Portage, MI 49002

$241,500

3 bd · 2.0 ba · 1,353 sqft · SingleFamily · 5 Days on market

Built 2026 7,841 sqft lot $178/sqft · 6% above area Est $254k · 5% 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 +21.6/30.0
• ARV discount +9.8/15.0
• DSCR +6.9/10.0
• 1% rule +6.1/10.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to Stanwood Crossings, a new Portage community that makes homeownership attainable for middle-income buyers through an innovative ground lease model. Thoughtfully designed for modern living, this brand-new 2025 home offers the perfect blend of comfort, efficiency, and style in a welcoming neighborhood setting. Featuring the desirable Birch floor plan, this single-story home provides 1,353 square feet of well-planned living space with an open and airy feel. The living room flows seamlessly into the dining area and kitchen, creating an inviting space for everyday living and entertaining. The kitchen is both functional and stylish, with generous counter space, a pantry, and easy a

Key facts

• 7,841 sq ft lot
• 2 garage spots
• Built 2026

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Electricity available; Natural gas connected
• Home design: Ranch-style single-family home; New construction (2026)
• Construction: Vinyl siding; Composition roof; Built in 2026; Slab basement
• Exterior features: Paved road access; Lot is 0.18 acres

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Insulated windows; Total of 5 rooms
• Laundry & utility: Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $242k.

Deal economics

• At list price, monthly cash flow is $366 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $242k).
• Cap rate 8.1% vs local median 3.0% 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.
• Zoned schools: Lake Center Elementary School (math 46% / reading 55%, grade D+, #366 of 1,397 statewide, top 26%, 529 students, 24% FRL); Portage Central Middle School (math 60% / reading 74%, grade A-, #31 of 493 statewide, top 6%, 740 students, 23% FRL); Portage Central High School (math 53% / reading 76%, grade B-, #46 of 713 statewide, top 7%, 1,420 students, 16% FRL) — zoned schools at 21% FRL track the district average.
• Market conditions: Rents rising fast (+11.3%/yr); 129 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 43% 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $68k 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.
• Current owner paid $200k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $241,500

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.49%
• DSCR: 1.29
• GRM: 7.5

CMA / ARV

• ARV (median comp): $254,223
• List price: $241,500
• Delta: -5.40%
• 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	0.03mi	3/2.0	1,353 (0%)	2mo	$228,500	$169	97
2031 Topaz Ln	0.03mi	2/2.0 (-1)	1,206 (-11%)	2mo	$217,200	$180	74
2075 Stanley Ave	0.08mi	2/2.0 (-1)	1,206 (-11%)	3mo	$214,500	$178	71
9810 Pine View Dr	0.47mi	3/2.0	1,330 (-2%)	19mo	$279,000	$210	59
2124 Woodbine Ave	0.12mi	3/1.5	1,171 (-14%)	18mo	$222,500	$190	55
9935 Mariner St	0.30mi	4/3.0 (+1)	1,535 (+14%)	3mo	$409,900	$267	52
2403 Portside Ave	0.27mi	3/2.0	1,510 (+12%)	20mo	$333,000	$221	51
10094 Woodlawn Dr	0.48mi	4/1.5 (+1)	1,430 (+6%)	14mo	$275,000	$192	50
1420 Lakeview Dr	0.46mi	3/2.0	1,528 (+13%)	11mo	$225,000	$147	48
1625 S Shore Dr	0.38mi	3/2.0	1,485 (+10%)	23mo	$265,000	$178	47
10150 Portage Rd	0.58mi	3/1.5	1,160 (-14%)	16mo	$213,000	$184	34

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,660
• Equity at exit: $36,008

10-year hold

• IRR: 13.8%
• Equity multiple: 2.38×
• Total profit: $93,076
• Equity at exit: $20,881

Cash invested: $67,620 (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: 129
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $2,669 medium
• Mortgage (P&I): −$1,266
• Tax from tax record: −$376 /mo · $4,508/yr
• Insurance: −$101
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $366

Break-even live

Break-even rent $2,206

Max offer price $241,500

Occupancy floor 81%

Sensitivity live

Price	-10% $502	-5% $434	+0% $366	+5% $297	+10% $229
Rent	-10% $155	-5% $260	+0% $366	+5% $471	+10% $576
Rate	-1.0pp $487	-0.5pp $427	base $366	+0.5pp $303	+1.0pp $239

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: $60,375
• Closing costs: $7,245
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.31mi
10000 S Westnedge Ave Portage, MI	1.0–2.0	1.0	855	$1,295	$1.51	15d	1	1.32mi

Listing history 10 events

1. 2026-06-02
   days on market $241,500 Active 5 DOM
2. 2026-06-01
   days on market $241,500 Active 4 DOM
3. 2026-05-31
   days on market $241,500 Active 3 DOM
4. 2026-05-30
   days on market $241,500 Active 2 DOM
5. 2026-04-30
   listed $217,200 Active
6. 2026-04-30
   historical
7. 2026-04-30
   listed $217,200 Active
8. 2016-03-17
   soldstatus $200,000
9. 2014-09-25
   historical
10. 2009-10-22
    listed $200,000

ⓘ 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: $4,508 · $376/mo
• Projected year-2 tax: $4,508 · $376/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 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: $32,025
• − Mortgage interest: −$13,528
• − Property taxes: −$4,508
• − Insurance: −$1,208
• − Repairs & maintenance: −$2,562
• − Management: −$2,562
• − Depreciation: −$7,025
• Taxable income: $632
• Est. tax owed @ 24.0%: −$152
• After-tax cash flow: $4,235/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

+0.0% since first listed

3 events — show timeline

• 2016-03-17 Sold (Public Records) $200,000 Public Records
• 2014-09-25 Listing Removed — SW Michigan MLS
• 2009-10-22 Listed $200,000 SW Michigan MLS

Property tax history

+15.2%/yr

Latest (2021): $4,508 · +2.0% YoY. Source: county tax records.