7332 Quail St · Portage, MI 49024

$275,000

3 bd · 2.0 ba · 2,460 sqft · SingleFamily · 64 Days on market

Built 1973 0.31 ac lot $112/sqft · 7% below area Est $294k · 7% under

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Why this score? — see what drove the D 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 +10.5/15.0
• Cash flow +9.5/30.0
• Schools +4.8/10.0
• Rent growth +4.1/5.0
• Livability +4.0/5.0
• DSCR +2.7/10.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated 3-bedroom ranch featuring 2 full bathrooms and a warm, inviting living room with a natural fireplace, raised hearth, and built-in shelving. The bedrooms are generously sized with ample closet space throughout. The finished basement offers plenty of additional living space, including the potential for a fourth bedroom. Enjoy a large, park-like backyard complete with a deck?perfect for relaxing or entertaining. A three seasons room off kitchen, heating and air conditioning provides year-round comfort while overlooking the spacious yard. Situated on a quiet cul-de-sac, this home is conveniently located near shopping, parks, and more. HIGHLIGHTS: New Furnace and Central Air (August 2021) New Roof and Gutters (2025) New Garage Door- 2025 (2 car- deep) New Siding- 2025 Updated Granite Kitchen with Seating Area (2023) New Stove, Microwave (2023), Dishwasher (2025) Spacious finished basement with full bath, new flooring, ceiling tiles, drywall and paint 2026) New flooring and drywall along with fresh paint and trim throughout (2025-2026) New Privacy Fence and Gate (2025)

Key facts

• New furnace
• Natural fireplace
• Large backyard

Tags

• NATURAL FIREPLACE
• BUILT-IN SHELVING
• FINISHED BASEMENT
• LARGE BACKYARD
• THREE SEASONS ROOM
• NEW FURNACE

Property features AI

Finance

• Other: Pets allowed; Located on a cul-de-sac with paved road access; Lot approximately 0.31 acres (97 x 140); Subdivision: MEADOW CREEK

Exterior

• Parking: Attached oversized garage with 2 spaces; Driveway; Garage faces front; Garage door opener
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Single family residence; Residential property; One level; Ground-level entry
• Construction: Brick and vinyl siding exterior; Asphalt roof; Built with a full finished basement
• Exterior features: Deck; Outdoor lighting; Fenced yard; Shed(s)

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Self-cleaning oven; Free-standing electric oven; Electric cooktop; Stainless steel appliances; Oven; Electric water heater; Humidifier
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas heating
• Interior features: Smart thermostat; Unfurnished; Finished full basement with sump pump; Fireplace in the living room; 6 total rooms
• Laundry & utility: Washer; Dryer; Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-190 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (12.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (24.3% below list).
• Recommended offer: $208k (24.3% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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.
• Zoned schools: Woodland Elementary School (math 37% / reading 52%, grade F, #484 of 1,397 statewide, top 38%, 376 students, 41% 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).
• Market conditions: Rents rising fast (+6.4%/yr); 191 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).

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 64 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 37y 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.
• Current owner paid $136k; list at $275k implies a 102% gain — meaningful room to come down on a strong offer.

Recommended offer $208,185 (24.3% 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 64 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.76% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.96%
• DSCR: 0.87
• GRM: 11.0

CMA / ARV

• ARV (median comp): $294,479
• List price: $275,000
• Delta: -6.61%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7162 Windhaven Ct	0.46mi	4/2.5 (+1)	2,560 (+4%)	9mo	$390,000	$152	57
1200 Schuring Rd	0.62mi	4/2.0 (+1)	2,708 (+10%)	10mo	$375,000	$138	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: -17.7%
• Equity multiple: 0.36×
• Total profit: $-49,402
• Equity at exit: $41,003

10-year hold

• IRR: -4.6%
• Equity multiple: 0.65×
• Total profit: $-26,653
• Equity at exit: $23,777

Cash invested: $77,000 (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: 191
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,082 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$278 /mo · $3,336/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-190

Break-even live

Break-even rent $2,322

Max offer price $241,423

Occupancy floor —

Sensitivity live

Price	-10% $-34	-5% $-112	+0% $-190	+5% $-268	+10% $-346
Rent	-10% $-355	-5% $-272	+0% $-190	+5% $-108	+10% $-26
Rate	-1.0pp $-52	-0.5pp $-120	base $-190	+0.5pp $-261	+1.0pp $-334

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1309 Warwick St Portage, MI	3.0	2.0	1724	$1,850	$1.07	23d	1	1.28mi
7741 Walcott St Portage, MI	4.0	1.5	1800	$2,200	$1.22	45d	1	1.28mi

Listing history 37 events

1. 2026-06-22
   days on market $275,000 Active 64 DOM
2. 2026-06-18
   days on market $275,000 Active 61 DOM
3. 2026-06-17
   days on market $275,000 Active 60 DOM
4. 2026-06-16
   days on market $275,000 Active 59 DOM
5. 2026-06-15
   days on market $275,000 Active 58 DOM
6. 2026-06-14
   days on market $275,000 Active 56 DOM
7. 2026-06-13
   days on market $275,000 Active 55 DOM
8. 2026-06-10
   days on market $275,000 Active 53 DOM
9. 2026-06-09
   days on market $275,000 Active 52 DOM
10. 2026-06-08
    days on market $275,000 Active 51 DOM
11. 2026-06-07
    days on market $275,000 Active 50 DOM
12. 2026-06-05
    days on market $275,000 Active 47 DOM
13. 2026-06-03
    days on market $275,000 Active 46 DOM
14. 2026-06-02
    days on market $275,000 Active 45 DOM
15. 2026-06-01
    days on market $275,000 Active 44 DOM
16. 2026-05-31
    days on market $275,000 Active 43 DOM
17. 2026-05-30
    days on market $275,000 Active 42 DOM
18. 2026-04-29
    price $279,900 1099-char remark

    Show marketing remark (1099 chars)

    Beautifully updated 3-bedroom ranch featuring 2 full bathrooms and a warm, inviting living room with a natural fireplace, raised hearth, and built-in shelving. The bedrooms are generously sized with ample closet space throughout. The finished basement offers plenty of additional living space, including the potential for a fourth bedroom. Enjoy a large, park-like backyard complete with a deck?perfect for relaxing or entertaining. A three seasons room off kitchen, heating and air conditioning provides year-round comfort while overlooking the spacious yard. Situated on a quiet cul-de-sac, this home is conveniently located near shopping, parks, and more. HIGHLIGHTS: New Furnace and Central Air (August 2021) New Roof and Gutters (2025) New Garage Door- 2025 (2 car- deep) New Siding- 2025 Updated Granite Kitchen with Seating Area (2023) New Stove, Microwave (2023), Dishwasher (2025) Spacious finished basement with full bath, new flooring, ceiling tiles, drywall and paint 2026) New flooring and drywall along with fresh paint and trim throughout (2025-2026) New Privacy Fence and Gate (2025)

19. 2026-04-29
    price $279,900 1100-char remark

    Show marketing remark (1099 chars)

    Beautifully updated 3-bedroom ranch featuring 2 full bathrooms and a warm, inviting living room with a natural fireplace, raised hearth, and built-in shelving. The bedrooms are generously sized with ample closet space throughout. The finished basement offers plenty of additional living space, including the potential for a fourth bedroom. Enjoy a large, park-like backyard complete with a deck?perfect for relaxing or entertaining. A three seasons room off kitchen, heating and air conditioning provides year-round comfort while overlooking the spacious yard. Situated on a quiet cul-de-sac, this home is conveniently located near shopping, parks, and more. HIGHLIGHTS: New Furnace and Central Air (August 2021) New Roof and Gutters (2025) New Garage Door- 2025 (2 car- deep) New Siding- 2025 Updated Granite Kitchen with Seating Area (2023) New Stove, Microwave (2023), Dishwasher (2025) Spacious finished basement with full bath, new flooring, ceiling tiles, drywall and paint 2026) New flooring and drywall along with fresh paint and trim throughout (2025-2026) New Privacy Fence and Gate (2025)

20. 2026-04-18
    listed $285,900 Active 1099-char remark

    Show marketing remark (1099 chars)

    Beautifully updated 3-bedroom ranch featuring 2 full bathrooms and a warm, inviting living room with a natural fireplace, raised hearth, and built-in shelving. The bedrooms are generously sized with ample closet space throughout. The finished basement offers plenty of additional living space, including the potential for a fourth bedroom. Enjoy a large, park-like backyard complete with a deck?perfect for relaxing or entertaining. A three seasons room off kitchen, heating and air conditioning provides year-round comfort while overlooking the spacious yard. Situated on a quiet cul-de-sac, this home is conveniently located near shopping, parks, and more. HIGHLIGHTS: New Furnace and Central Air (August 2021) New Roof and Gutters (2025) New Garage Door- 2025 (2 car- deep) New Siding- 2025 Updated Granite Kitchen with Seating Area (2023) New Stove, Microwave (2023), Dishwasher (2025) Spacious finished basement with full bath, new flooring, ceiling tiles, drywall and paint 2026) New flooring and drywall along with fresh paint and trim throughout (2025-2026) New Privacy Fence and Gate (2025)

21. 2026-04-18
    listed $285,900 Active 1100-char remark

    Show marketing remark (1099 chars)

    Beautifully updated 3-bedroom ranch featuring 2 full bathrooms and a warm, inviting living room with a natural fireplace, raised hearth, and built-in shelving. The bedrooms are generously sized with ample closet space throughout. The finished basement offers plenty of additional living space, including the potential for a fourth bedroom. Enjoy a large, park-like backyard complete with a deck?perfect for relaxing or entertaining. A three seasons room off kitchen, heating and air conditioning provides year-round comfort while overlooking the spacious yard. Situated on a quiet cul-de-sac, this home is conveniently located near shopping, parks, and more. HIGHLIGHTS: New Furnace and Central Air (August 2021) New Roof and Gutters (2025) New Garage Door- 2025 (2 car- deep) New Siding- 2025 Updated Granite Kitchen with Seating Area (2023) New Stove, Microwave (2023), Dishwasher (2025) Spacious finished basement with full bath, new flooring, ceiling tiles, drywall and paint 2026) New flooring and drywall along with fresh paint and trim throughout (2025-2026) New Privacy Fence and Gate (2025)

22. 2022-05-25
    historical
23. 2017-05-23
    soldstatus $136,000
24. 2013-05-24
    soldstatus $130,000
25. 2007-09-28
    historical
26. 2007-02-14
    listed $145,000
27. 2007-02-14
    listed $145,000
28. 2001-06-26
    soldstatus $134,000
29. 2001-06-26
    soldstatus $134,000
30. 2001-02-20
    listed $137,900
31. 2001-02-20
    listed $137,900
32. 1996-12-04
    soldstatus $92,900
33. 1996-12-04
    soldstatus $92,900
34. 1996-09-14
    listed $94,900
35. 1996-09-14
    listed $94,900
36. 1989-04-05
    listed $68,900
37. 1989-04-05
    listed $68,900

ⓘ 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: $3,336 · $278/mo
• Projected year-2 tax: $3,786 · $315/mo
• Expected delta: +$449/yr (+$37/mo · 13.5%)

ⓘ 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: $24,982
• − Mortgage interest: −$15,404
• − Property taxes: −$3,336
• − Insurance: −$1,375
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$8,000
• Taxable loss: −$7,130
• Est. tax savings @ 24.0%: +$1,711
• After-tax cash flow: $-570/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

+299.1% since first listed

22 events — show timeline

• 2026-05-21 Price Changed $275,000 MiRealSource-MiMLS
• 2026-05-21 Price Changed $275,000 REALCOMP
• 2026-04-29 Price Changed $279,900 MiRealSource-MiMLS
• 2026-04-29 Price Changed $279,900 REALCOMP
• 2026-04-18 Listed $285,900 REALCOMP
• 2026-04-18 Listed $285,900 MiRealSource-MiMLS
• 2022-05-25 Listing Removed — REALCOMP
• 2017-05-23 Sold (Public Records) $136,000 Public Records
• 2013-05-24 Sold (Public Records) $130,000 Public Records
• 2007-09-28 Listing Removed — SW Michigan MLS
• 2007-02-14 Listed $145,000 SW Michigan MLS
• 2007-02-14 Listed $145,000 REALCOMP
• 2001-06-26 Sold (MLS) $134,000 REALCOMP
• 2001-06-26 Sold (MLS) $134,000 SW Michigan MLS
• 2001-02-20 Listed $137,900 REALCOMP
• 2001-02-20 Listed $137,900 SW Michigan MLS
• 1996-12-04 Sold (MLS) $92,900 REALCOMP
• 1996-12-04 Sold (MLS) $92,900 SW Michigan MLS
• 1996-09-14 Listed $94,900 REALCOMP
• 1996-09-14 Listed $94,900 SW Michigan MLS
• 1989-04-05 Listed $68,900 REALCOMP
• 1989-04-05 Listed $68,900 SW Michigan MLS

Property tax history

+53.8%/yr

Latest (2025): $3,336 · +3.0% YoY. Source: county tax records.