9421 Sassafras Trl #76 · Portage, MI 49002

$95,000

2 bd · 2.0 ba · 1,920 sqft · Condo · 149 Days on market

Built 2026 Good condition $115/mo HOA · 7% of rent

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Why this score? — see what drove the B+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

Key facts

• Quartz countertops
• High end finishes
• Ceramic shower

Tags

• CUSTOM STANDALONE CONDO
• DAYLIGHT BASEMENT
• WOODED NATURE PRESERVE
• HIGH END FINISHES
• CERAMIC SHOWER
• QUARTZ COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $95k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $531 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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; 1 comparable units currently listed for rent nearby; 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 $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $525k (85%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.74% ✓
• Cap rate: 13.00%
• Cash-on-cash: 23.94%
• DSCR: 2.07
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 23.3%
• Equity multiple: 2.02×
• Total profit: $27,216
• Equity at exit: $14,165

10-year hold

• IRR: 34.5%
• Equity multiple: 5.03×
• Total profit: $107,265
• Equity at exit: $8,214

Cash invested: $26,600 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,648 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$115
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $531

Break-even live

Break-even rent $977

Max offer price $95,000

Occupancy floor 63%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	21d	1	1.43mi

HOA detail condo

• Monthly dues: $115 · $1,380/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-05-11
   price $9,500 806-char remark

   Show marketing remark (806 chars)

   Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

2. 2026-05-11
   status Pending 806-char remark

   Show marketing remark (806 chars)

   Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

3. 2026-05-11
   price $9,500 806-char remark

   Show marketing remark (806 chars)

   Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

4. 2026-05-11
   status Pending 806-char remark

   Show marketing remark (806 chars)

   Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

5. 2026-05-11
   status Pending

   Show marketing remark (806 chars)

   Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

6. 2026-05-11
   price $9,500

   Show marketing remark (806 chars)

   Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

7. 2026-05-06
   price $95,000 806-char remark

   Show marketing remark (806 chars)

   Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

8. 2026-05-06
   price $95,000 806-char remark

   Show marketing remark (806 chars)

   Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

9. 2026-05-06
   price $95,000

   Show marketing remark (806 chars)

   Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

10. 2025-12-13
    listed $620,000 Active 806-char remark

    Show marketing remark (806 chars)

    Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

11. 2025-12-13
    listed $620,000 Active 806-char remark

    Show marketing remark (806 chars)

    Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

12. 2025-12-13
    listed $620,000 Active

    Show marketing remark (806 chars)

    Price is for site only. One of last two sites available for a custom standalone condo with daylight basement . This is a double site backing up to a wooded nature preserve. Let us design and build what you want. Bigger, smaller, 3 car garage - your choice. Pictures are stock photos and represent what can be built. High end finishes include Ceramic shower, quartz countertops, 9 foot ceilings, stone fireplace and walk-in pantry. French Doors lead into wonderful Sunroom with a vaulted ceiling, pentagon window and slider to very private composite deck. Energy efficient 2 x 6 construction, insulated garage and high efficiency HVAC results in low heating/cooling costs. The Woodlands is a beautiful, wooded, tranquil neighborhood filled with rain gardens, gorgeous landscaping, and a lovely nature trail.

13. 2025-12-10
    historical
14. 2025-12-09
    historical
15. 2025-06-09
    listed $620,000 Active
16. 2025-06-09
    listed $620,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,781
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − HOA: −$1,380
• − Depreciation: −$2,764
• Taxable income: $5,251
• Est. tax owed @ 24.0%: −$1,260
• After-tax cash flow: $5,109/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This well-maintained and modern condo is ready for move-in with minimal updates needed to enhance its curb appeal and value.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Painting interior walls — Fresh paint can make a significant difference in a home's appearance
• Both Landscaping and curb appeal — Improves the home's overall appearance and can increase its value

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Painting interior walls — Fresh paint can make a significant difference in a home's appearance ↑
• Both Landscaping and curb appeal — Improves the home's overall appearance and can increase its value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-98.5% since first listed

16 events — show timeline

• 2026-05-11 Price Changed $9,500 MiRealSource-MiMLS
• 2026-05-11 Pending — REALCOMP
• 2026-05-11 Price Changed $9,500 REALCOMP
• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-11 Pending — SW Michigan MLS
• 2026-05-11 Price Changed $9,500 SW Michigan MLS
• 2026-05-06 Price Changed $95,000 SW Michigan MLS
• 2026-05-06 Price Changed $95,000 REALCOMP
• 2026-05-06 Price Changed $95,000 MiRealSource-MiMLS
• 2025-12-13 Listed $620,000 SW Michigan MLS
• 2025-12-13 Listed $620,000 REALCOMP
• 2025-12-13 Listed $620,000 MiRealSource-MiMLS
• 2025-12-10 Listing Removed — MiRealSource-MiMLS
• 2025-12-09 Listing Removed — REALCOMP
• 2025-06-09 Listed $620,000 REALCOMP
• 2025-06-09 Listed $620,000 MiRealSource-MiMLS