7639 Walcott St · Portage, MI 49024

$250,000

4 bd · 2.0 ba · 1,641 sqft · SingleFamily · 58 Days on market

Built 1963 8,890 sqft lot $152/sqft · 11% below area Est $281k · 11% under ↓ 4% 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).

• Cash flow +17.6/30.0
• ARV discount +12.4/15.0
• DSCR +5.5/10.0
• Schools +4.8/10.0
• 1% rule +4.4/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits in this Portage bi-level! The upper level offers 3 bedrooms, a full bath, a spacious living room with fireplace, and an eat-in kitchen. The lower level features an additional bedroom, full bath, and rec room--perfect for extra living space. Complete with a 2-car attached garage, fenced backyard, and storage shed. This home is ready for updates but offers great potential in a desirable location.

Key facts

• Rec room
• Desirable location
• Storage shed

Tags

• FENCED BACKYARD
• STORAGE SHED
• SPACIOUS LIVING ROOM
• EAT-IN KITCHEN
• REC ROOM
• DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/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 $235k (5.9% below list).
• Recommended offer: $235k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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; 2 comparable units currently listed for rent nearby; 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 $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

• It's been on market 58 days — a 3% lower offer ($242k) 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.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $235,334 (5.9% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.94% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.40%
• DSCR: 1.15
• GRM: 8.9

CMA / ARV

• ARV (median comp): $280,705
• List price: $250,000
• Delta: -10.94%
• 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
7734 Walcott St	0.09mi	3/1.5 (-1)	1,594 (-3%)	11mo	$275,000	$173	75
2018 Potomac Ave	0.17mi	3/2.5 (-1)	1,705 (+4%)	5mo	$283,500	$166	74
2383 Quincy Ave	0.13mi	4/1.5	1,720 (+5%)	15mo	$298,000	$173	71
7784 Primrose Ln	0.33mi	3/2.0 (-1)	1,592 (-3%)	7mo	$315,000	$198	69
1730 Redstock St	0.35mi	4/2.0	1,615 (-2%)	17mo	$218,000	$135	67
7814 Julie Dr	0.29mi	3/1.5 (-1)	1,548 (-6%)	8mo	$280,000	$181	63
7337 Starbrook St	0.36mi	4/2.0	1,824 (+11%)	7mo	$211,000	$116	59
1812 Carlsbrook Ln	0.53mi	4/2.0	1,854 (+13%)	11mo	$280,000	$151	45
7202 Rockford St	0.58mi	3/1.5 (-1)	1,500 (-9%)	9mo	$259,000	$173	44
1465 Sherry Dr	0.75mi	3/2.5 (-1)	1,687 (+3%)	13mo	$315,000	$187	42
7104 Rockford St	0.66mi	3/1.5 (-1)	1,852 (+13%)	8mo	$265,500	$143	34
7106 Leawood St	0.72mi	3/2.0 (-1)	1,838 (+12%)	13mo	$281,250	$153	30

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: -7.4%
• Equity multiple: 0.72×
• Total profit: $-19,669
• Equity at exit: $37,276

10-year hold

• IRR: 5.9%
• Equity multiple: 1.50×
• Total profit: $35,268
• 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: 8.9×

Monthly cashflow live

• Estimated rent: $2,353 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$246 /mo · $2,949/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $198

Break-even live

Break-even rent $2,102

Max offer price $250,000

Occupancy floor 87%

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7741 Walcott St Portage, MI	4.0	1.5	1800	$2,200	$1.22	43d	1	0.13mi
1309 Warwick St Portage, MI	3.0	2.0	1724	$1,850	$1.07	21d	1	1.46mi

Listing history 22 events

1. 2026-06-18
   days on market $250,000 Active 58 DOM
2. 2026-06-17
   days on market $250,000 Active 57 DOM
3. 2026-06-16
   days on market $250,000 Active 56 DOM
4. 2026-06-15
   days on market $250,000 Active 55 DOM
5. 2026-06-14
   days on market $250,000 Active 53 DOM
6. 2026-06-13
   days on market $250,000 Active 52 DOM
7. 2026-06-10
   days on market $250,000 Active 50 DOM
8. 2026-06-09
   days on market $250,000 Active 49 DOM
9. 2026-06-08
   days on market $250,000 Active 48 DOM
10. 2026-06-07
    days on market $250,000 Active 47 DOM
11. 2026-06-05
    days on market $250,000 Active 44 DOM
12. 2026-06-03
    days on market $250,000 Active 43 DOM
13. 2026-06-02
    days on market $250,000 Active 42 DOM
14. 2026-06-01
    days on market $250,000 Active 41 DOM
15. 2026-05-31
    days on market $250,000 Active 40 DOM
16. 2026-05-30
    days on market $250,000 Active 39 DOM
17. 2026-05-19
    price $250,000 416-char remark

    Show marketing remark (416 chars)

    Opportunity awaits in this Portage bi-level! The upper level offers 3 bedrooms, a full bath, a spacious living room with fireplace, and an eat-in kitchen. The lower level features an additional bedroom, full bath, and rec room--perfect for extra living space. Complete with a 2-car attached garage, fenced backyard, and storage shed. This home is ready for updates but offers great potential in a desirable location.

18. 2026-05-18
    price $250,000 416-char remark

    Show marketing remark (416 chars)

    Opportunity awaits in this Portage bi-level! The upper level offers 3 bedrooms, a full bath, a spacious living room with fireplace, and an eat-in kitchen. The lower level features an additional bedroom, full bath, and rec room--perfect for extra living space. Complete with a 2-car attached garage, fenced backyard, and storage shed. This home is ready for updates but offers great potential in a desirable location.

19. 2026-05-18
    price $250,000

    Show marketing remark (416 chars)

    Opportunity awaits in this Portage bi-level! The upper level offers 3 bedrooms, a full bath, a spacious living room with fireplace, and an eat-in kitchen. The lower level features an additional bedroom, full bath, and rec room--perfect for extra living space. Complete with a 2-car attached garage, fenced backyard, and storage shed. This home is ready for updates but offers great potential in a desirable location.

20. 2026-04-21
    listed $260,000 Active 416-char remark

    Show marketing remark (416 chars)

    Opportunity awaits in this Portage bi-level! The upper level offers 3 bedrooms, a full bath, a spacious living room with fireplace, and an eat-in kitchen. The lower level features an additional bedroom, full bath, and rec room--perfect for extra living space. Complete with a 2-car attached garage, fenced backyard, and storage shed. This home is ready for updates but offers great potential in a desirable location.

21. 2026-04-21
    listed $260,000 Active 416-char remark

    Show marketing remark (416 chars)

    Opportunity awaits in this Portage bi-level! The upper level offers 3 bedrooms, a full bath, a spacious living room with fireplace, and an eat-in kitchen. The lower level features an additional bedroom, full bath, and rec room--perfect for extra living space. Complete with a 2-car attached garage, fenced backyard, and storage shed. This home is ready for updates but offers great potential in a desirable location.

22. 2026-04-21
    listed $260,000 Active

    Show marketing remark (416 chars)

    Opportunity awaits in this Portage bi-level! The upper level offers 3 bedrooms, a full bath, a spacious living room with fireplace, and an eat-in kitchen. The lower level features an additional bedroom, full bath, and rec room--perfect for extra living space. Complete with a 2-car attached garage, fenced backyard, and storage shed. This home is ready for updates but offers great potential in a desirable location.

ⓘ 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: $2,949 · $246/mo
• Projected year-2 tax: $3,399 · $283/mo
• Expected delta: +$451/yr (+$38/mo · 15.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% 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: $28,240
• − Mortgage interest: −$14,004
• − Property taxes: −$2,949
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,259
• − Management: −$2,259
• − Depreciation: −$7,273
• Taxable loss: −$1,754
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $2,799/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

-3.8% since first listed

6 events — show timeline

• 2026-05-19 Price Changed $250,000 MiRealSource-MiMLS
• 2026-05-18 Price Changed $250,000 REALCOMP
• 2026-05-18 Price Changed $250,000 SW Michigan MLS
• 2026-04-21 Listed $260,000 SW Michigan MLS
• 2026-04-21 Listed $260,000 REALCOMP
• 2026-04-21 Listed $260,000 MiRealSource-MiMLS

Property tax history

+52.5%/yr

Latest (2025): $2,949 · +3.0% YoY. Source: county tax records.