218 Amos Ave · Portage, MI 49002

$184,600

3 bd · 2.0 ba · 1,242 sqft · SingleFamily · 290 Days on market

Built 1940 0.30 ac lot $149/sqft · 14% below area Est $215k · 14% under ↓ 18% since listing

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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 +13.9/15.0
• Cash flow +12.9/30.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• 1% rule +4.2/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Opportunity to own this single-family home built in 1960 featuring 3 bedrooms and 2 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * NO ACCESS OR VIEWINGS of this property. P "As is" sale with no contingencies or inspections.

Key facts

• 0.3 acre lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-13 ($-156/yr) — negative.
• To cash-flow at today's rent, offer at most $182k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (8.3% below list).
• Recommended offer: $162k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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 (+11.3%/yr); 127 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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

• It's been on market 290 days — a 12% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $162,448 (12.0% 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. It's been on market 290 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.92% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.30%
• DSCR: 0.99
• GRM: 9.1

CMA / ARV

• ARV (median comp): $215,051
• List price: $184,600
• Delta: -14.16%
• 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
472 Burrwood Ave	0.21mi	3/2.0	1,262 (+2%)	4mo	$280,000	$222	84
123 Amos Ave	0.05mi	3/1.0	1,170 (-6%)	6mo	$192,500	$165	78
5341 Plateau St	0.14mi	3/1.0	1,320 (+6%)	9mo	$194,900	$148	72
229 Tamarix Ave	0.09mi	2/1.0 (-1)	1,312 (+6%)	8mo	$215,000	$164	71
413 Connecticut Dr	0.34mi	3/2.0	1,211 (-2%)	19mo	$200,455	$166	64
5320 Wisteria St	0.16mi	4/1.0 (+1)	1,157 (-7%)	18mo	$195,000	$169	57
505 W Van Hoesen Blvd	0.55mi	3/1.5	1,357 (+9%)	5mo	$207,000	$153	53
5904 Dakota Ave	0.62mi	4/2.0 (+1)	1,140 (-8%)	15mo	$170,000	$149	40
5908 Iowa Ave	0.59mi	4/1.0 (+1)	1,175 (-5%)	22mo	$155,000	$132	36
5209 Bronson Blvd	0.74mi	2/1.5 (-1)	1,128 (-9%)	10mo	$280,500	$249	34
309 W Van Hoesen Blvd	0.48mi	3/1.0	1,088 (-12%)	23mo	$208,000	$191	34
4234 S Park St	0.74mi	3/1.0	1,408 (+13%)	16mo	$204,900	$146	26

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: -11.0%
• Equity multiple: 0.58×
• Total profit: $-21,723
• Equity at exit: $27,524

10-year hold

• IRR: 4.5%
• Equity multiple: 1.41×
• Total profit: $21,031
• Equity at exit: $15,961

Cash invested: $51,688 (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: $1,693 high
• Mortgage (P&I): −$968
• Tax from tax record: −$306 /mo · $3,667/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $-13

Break-even live

Break-even rent $1,710

Max offer price $182,301

Occupancy floor 96%

Sensitivity live

Price	-10% $91	-5% $39	+0% $-13	+5% $-65	+10% $-118
Rent	-10% $-147	-5% $-80	+0% $-13	+5% $54	+10% $121
Rate	-1.0pp $80	-0.5pp $34	base $-13	+0.5pp $-61	+1.0pp $-110

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: $46,150
• Closing costs: $5,538
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
100 E Candlewyck Dr Kalamazoo, MI	1.0–4.0	1.0–2.0	1129	$1,436	$1.27	14d	38	0.69mi
601 Alfa Ct Portage, MI	1.0–2.0	1.0–1.5	736	$1,470	$2.00	14d	30	0.74mi
610 Mall Dr Portage, MI	2.0	1.0	689	$1,314	$1.91	45d	1	0.95mi
544 Denway Cir Kalamazoo, MI	1.0–2.0	1.0	850	$1,050	$1.24	22d	1	1.04mi
722 Buchanan Ave Unit 4 Kalamazoo, MI	2.0	1.0	800	$1,100	$1.38	22d	1	1.06mi
6600 Constitution Blvd Portage, MI	1.0–2.0	1.0–2.0	784	$1,095	$1.40	45d	3	1.39mi
611 Whites Rd Kalamazoo, MI	1.0–2.0	1.0	963	$1,449	$1.50	14d	4	1.48mi

Listing history 23 events

1. 2026-06-08
   days on market $184,600 Active 290 DOM
2. 2026-06-07
   days on market $184,600 Active 289 DOM
3. 2026-06-05
   days on market $184,600 Active 286 DOM
4. 2026-06-03
   days on market $184,600 Active 285 DOM
5. 2026-06-02
   days on market $184,600 Active 284 DOM
6. 2026-06-01
   days on market $184,600 Active 283 DOM
7. 2026-05-31
   days on market $184,600 Active 282 DOM
8. 2026-05-30
   days on market $184,600 Active 281 DOM
9. 2025-08-22
   listed $184,600 Active 425-char remark

   Show marketing remark (425 chars)

   Great Opportunity to own this single-family home built in 1960 featuring 3 bedrooms and 2 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * NO ACCESS OR VIEWINGS of this property. P "As is" sale with no contingencies or inspections.

10. 2025-08-22
    listed $184,600 Active 425-char remark

    Show marketing remark (425 chars)

    Great Opportunity to own this single-family home built in 1960 featuring 3 bedrooms and 2 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * NO ACCESS OR VIEWINGS of this property. P "As is" sale with no contingencies or inspections.

11. 2023-02-24
    soldstatus $208,000
12. 2022-12-30
    soldstatus $208,000 Sold
13. 2022-12-30
    soldstatus $208,000 Closed
14. 2022-12-30
    soldstatus $208,000 Sold
15. 2022-11-19
    status Pending
16. 2022-11-19
    status Pending
17. 2022-11-19
    status Pending
18. 2022-10-18
    price $215,000
19. 2022-10-18
    price $215,000
20. 2022-10-18
    price $215,000
21. 2022-10-07
    listed $225,000 Active
22. 2022-10-07
    listed $225,000 Active
23. 2022-10-07
    listed $225,000 Active

ⓘ 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: $3,667 · $306/mo
• Projected year-2 tax: $3,667 · $306/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: $20,317
• − Mortgage interest: −$10,340
• − Property taxes: −$3,667
• − Insurance: −$923
• − Repairs & maintenance: −$1,625
• − Management: −$1,625
• − Depreciation: −$5,370
• Taxable loss: −$3,234
• Est. tax savings @ 24.0%: +$776
• After-tax cash flow: $620/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

-18.0% since first listed

15 events — show timeline

• 2025-08-22 Listed $184,600 REALCOMP
• 2025-08-22 Listed $184,600 MiRealSource-MiMLS
• 2023-02-24 Sold (Public Records) $208,000 Public Records
• 2022-12-30 Sold (MLS) $208,000 SW Michigan MLS
• 2022-12-30 Sold (MLS) $208,000 MiRealSource-MiMLS
• 2022-12-30 Sold (MLS) $208,000 REALCOMP
• 2022-11-19 Pending — MiRealSource-MiMLS
• 2022-11-19 Pending — REALCOMP
• 2022-11-19 Pending — SW Michigan MLS
• 2022-10-18 Price Changed $215,000 MiRealSource-MiMLS
• 2022-10-18 Price Changed $215,000 REALCOMP
• 2022-10-18 Price Changed $215,000 SW Michigan MLS
• 2022-10-07 Listed $225,000 SW Michigan MLS
• 2022-10-07 Listed $225,000 MiRealSource-MiMLS
• 2022-10-07 Listed $225,000 REALCOMP

Property tax history

+63.7%/yr

Latest (2025): $3,667 · +3.0% YoY. Source: county tax records.