2427 Vanderbilt Ave · Portage, MI 49024

$249,900

3 bd · 1.5 ba · 1,724 sqft · SingleFamily · 136 Days on market

Built 1942 0.48 ac lot $145/sqft · 30% below area Est $357k · 30% 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).

• ARV discount +15.0/15.0
• Cash flow +14.0/30.0
• Schools +4.8/10.0
• DSCR +4.2/10.0
• Rent growth +4.1/5.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming ranch home features an open floor plan filled with natural light, a cozy wood-burning fireplace, and a dining area with a French door that lead to a deck overlooking a private backyard. The main level offers 3 bedrooms and 1.5 baths, including a conveniently located half bath between two bedrooms and an updated full bath. Recent updates include a new AC unit, along with new kitchen fixtures. The finished lower level showcases new flooring and fresh paint, providing a spacious family room, office or playroom, laundry area, and abundant storage. Enjoy outdoor living in the brand-new fenced backyard ideal for pets and play. Additional features include a 12x20 detached garage and an 8x8 attached shed. Conveniently located with easy access to US-131, parks, shopping, and restaurants. Schedule your private showing today!

Key facts

• Open floor plan
• New ac unit
• French door

Tags

• OPEN FLOOR PLAN
• WOOD BURNING FIREPLACE
• FRENCH DOOR
• PRIVATE BACKYARD
• UPDATED FULL BATH
• NEW AC UNIT

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $32 ($389/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 $225k (9.8% below list).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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: Moorsbridge Elementary School (math 63% / reading 68%, grade B+, #129 of 1,397 statewide, top 9%, 608 students, 16% 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 18% FRL track the district average.
• Market conditions: Rents rising fast (+6.4%/yr); 191 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $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.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 33y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $150k; list at $250k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $219,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.56%
• DSCR: 1.02
• GRM: 9.2

CMA / ARV

• ARV (median comp): $356,934
• List price: $249,900
• Delta: -29.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2623 Vanderbilt Ave	0.13mi	3/2.0	1,768 (+3%)	6mo	$295,000	$167	82
2225 Vanderbilt Ave	0.12mi	3/2.0	1,810 (+5%)	20mo	$210,000	$116	68
2586 Ashford Trl	0.51mi	3/2.0	1,811 (+5%)	3mo	$540,000	$298	64
9328 Chapel St	0.15mi	3/1.5	1,836 (+6%)	23mo	$300,000	$163	63
9841 Windflower Ln	0.59mi	3/2.0	1,890 (+10%)	23mo	$599,000	$317	35
9946 Mozart St	0.72mi	3/1.0	1,500 (-13%)	16mo	$249,500	$166	29

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: -11.7%
• Equity multiple: 0.56×
• Total profit: $-30,509
• Equity at exit: $37,261

10-year hold

• IRR: 1.9%
• Equity multiple: 1.16×
• Total profit: $10,913
• Equity at exit: $21,607

Cash invested: $69,972 (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: 9.2×

Monthly cashflow live

• Estimated rent: $2,254 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$334 /mo · $4,003/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $32

Break-even live

Break-even rent $2,213

Max offer price $249,900

Occupancy floor 94%

Sensitivity live

Price	-10% $174	-5% $103	+0% $32	+5% $-38	+10% $-109
Rent	-10% $-146	-5% $-57	+0% $32	+5% $121	+10% $210
Rate	-1.0pp $158	-0.5pp $96	base $32	+0.5pp $-32	+1.0pp $-98

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10240 Pennridge Dr Portage, MI	3.0	2.0	1530	$2,395	$1.57	45d	1	1.06mi
10328 Pennridge Dr Portage, MI	3.0	2.0	1530	$2,295	$1.50	45d	1	1.15mi
7741 Walcott St Portage, MI	4.0	1.5	1800	$2,200	$1.22	45d	1	1.47mi

Listing history 50 events

1. 2026-06-22
   statusdays on market $249,900 Active - Contingent 136 DOM
2. 2026-06-18
   days on market $249,900 Active 133 DOM
3. 2026-06-17
   days on market $249,900 Active 132 DOM
4. 2026-06-16
   days on market $249,900 Active 131 DOM
5. 2026-06-15
   days on market $249,900 Active 130 DOM
6. 2026-06-14
   days on market $249,900 Active 128 DOM
7. 2026-06-13
   days on market $249,900 Active 127 DOM
8. 2026-06-10
   days on market $249,900 Active 125 DOM
9. 2026-06-09
   days on market $249,900 Active 124 DOM
10. 2026-06-08
    days on market $249,900 Active 123 DOM
11. 2026-06-07
    pricedays on market $249,900 Active 122 DOM
12. 2026-06-05
    days on market $259,999 Active 119 DOM
13. 2026-06-03
    days on market $259,999 Active 118 DOM
14. 2026-06-02
    days on market $259,999 Active 117 DOM
15. 2026-06-01
    days on market $259,999 Active 116 DOM
16. 2026-05-31
    days on market $259,999 Active 115 DOM
17. 2026-05-30
    days on market $259,999 Active 114 DOM
18. 2026-04-06
    price $259,999 840-char remark

    Show marketing remark (840 chars)

    This charming ranch home features an open floor plan filled with natural light, a cozy wood-burning fireplace, and a dining area with a French door that lead to a deck overlooking a private backyard. The main level offers 3 bedrooms and 1.5 baths, including a conveniently located half bath between two bedrooms and an updated full bath. Recent updates include a new AC unit, along with new kitchen fixtures. The finished lower level showcases new flooring and fresh paint, providing a spacious family room, office or playroom, laundry area, and abundant storage. Enjoy outdoor living in the brand-new fenced backyard ideal for pets and play. Additional features include a 12x20 detached garage and an 8x8 attached shed. Conveniently located with easy access to US-131, parks, shopping, and restaurants. Schedule your private showing today!

19. 2026-04-06
    price $259,999 840-char remark

    Show marketing remark (840 chars)

    This charming ranch home features an open floor plan filled with natural light, a cozy wood-burning fireplace, and a dining area with a French door that lead to a deck overlooking a private backyard. The main level offers 3 bedrooms and 1.5 baths, including a conveniently located half bath between two bedrooms and an updated full bath. Recent updates include a new AC unit, along with new kitchen fixtures. The finished lower level showcases new flooring and fresh paint, providing a spacious family room, office or playroom, laundry area, and abundant storage. Enjoy outdoor living in the brand-new fenced backyard ideal for pets and play. Additional features include a 12x20 detached garage and an 8x8 attached shed. Conveniently located with easy access to US-131, parks, shopping, and restaurants. Schedule your private showing today!

20. 2026-04-06
    price $259,999

    Show marketing remark (840 chars)

    This charming ranch home features an open floor plan filled with natural light, a cozy wood-burning fireplace, and a dining area with a French door that lead to a deck overlooking a private backyard. The main level offers 3 bedrooms and 1.5 baths, including a conveniently located half bath between two bedrooms and an updated full bath. Recent updates include a new AC unit, along with new kitchen fixtures. The finished lower level showcases new flooring and fresh paint, providing a spacious family room, office or playroom, laundry area, and abundant storage. Enjoy outdoor living in the brand-new fenced backyard ideal for pets and play. Additional features include a 12x20 detached garage and an 8x8 attached shed. Conveniently located with easy access to US-131, parks, shopping, and restaurants. Schedule your private showing today!

21. 2026-02-05
    listed $264,900 Active 840-char remark

    Show marketing remark (840 chars)

    This charming ranch home features an open floor plan filled with natural light, a cozy wood-burning fireplace, and a dining area with a French door that lead to a deck overlooking a private backyard. The main level offers 3 bedrooms and 1.5 baths, including a conveniently located half bath between two bedrooms and an updated full bath. Recent updates include a new AC unit, along with new kitchen fixtures. The finished lower level showcases new flooring and fresh paint, providing a spacious family room, office or playroom, laundry area, and abundant storage. Enjoy outdoor living in the brand-new fenced backyard ideal for pets and play. Additional features include a 12x20 detached garage and an 8x8 attached shed. Conveniently located with easy access to US-131, parks, shopping, and restaurants. Schedule your private showing today!

22. 2026-02-05
    listed $264,900 Active 840-char remark

    Show marketing remark (840 chars)

    This charming ranch home features an open floor plan filled with natural light, a cozy wood-burning fireplace, and a dining area with a French door that lead to a deck overlooking a private backyard. The main level offers 3 bedrooms and 1.5 baths, including a conveniently located half bath between two bedrooms and an updated full bath. Recent updates include a new AC unit, along with new kitchen fixtures. The finished lower level showcases new flooring and fresh paint, providing a spacious family room, office or playroom, laundry area, and abundant storage. Enjoy outdoor living in the brand-new fenced backyard ideal for pets and play. Additional features include a 12x20 detached garage and an 8x8 attached shed. Conveniently located with easy access to US-131, parks, shopping, and restaurants. Schedule your private showing today!

23. 2026-02-05
    listed $264,900 Active

    Show marketing remark (840 chars)

    This charming ranch home features an open floor plan filled with natural light, a cozy wood-burning fireplace, and a dining area with a French door that lead to a deck overlooking a private backyard. The main level offers 3 bedrooms and 1.5 baths, including a conveniently located half bath between two bedrooms and an updated full bath. Recent updates include a new AC unit, along with new kitchen fixtures. The finished lower level showcases new flooring and fresh paint, providing a spacious family room, office or playroom, laundry area, and abundant storage. Enjoy outdoor living in the brand-new fenced backyard ideal for pets and play. Additional features include a 12x20 detached garage and an 8x8 attached shed. Conveniently located with easy access to US-131, parks, shopping, and restaurants. Schedule your private showing today!

24. 2020-02-13
    soldstatus $150,000
25. 2020-01-31
    soldstatus $150,000
26. 2020-01-31
    soldstatus $150,000 Sold
27. 2020-01-31
    soldstatus $150,000
28. 2019-12-05
    status Pending
29. 2019-12-02
    listed $145,000
30. 2019-12-02
    listed $145,000 Active
31. 2019-12-02
    listed $145,000
32. 2013-07-09
    soldstatus $115,000
33. 2013-06-28
    soldstatus $115,000
34. 2013-06-28
    soldstatus $115,000
35. 2013-03-23
    listed $115,000
36. 2013-03-23
    listed $115,000
37. 2013-02-26
    soldstatus $42,600
38. 2013-02-26
    soldstatus $42,600
39. 2013-01-12
    listed $44,500
40. 2013-01-12
    listed $44,500
41. 2005-04-15
    soldstatus $95,876
42. 2005-04-15
    soldstatus $95,876
43. 2005-01-17
    listed $99,900
44. 2005-01-17
    listed $99,900
45. 2000-08-24
    soldstatus $77,900
46. 2000-08-24
    soldstatus $77,900
47. 2000-07-18
    listed $77,900
48. 2000-07-18
    listed $77,900
49. 1993-12-27
    soldstatus $52,600
50. 1993-12-27
    soldstatus $52,600

ⓘ 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: $4,003 · $334/mo
• Projected year-2 tax: $4,003 · $334/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 3/10 Moderate
• 🌡 Heat 2/10 Low 6 d/yr ≥98°F today · 14 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: $27,046
• − Mortgage interest: −$13,998
• − Property taxes: −$4,003
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,164
• − Management: −$2,164
• − Depreciation: −$7,270
• Taxable loss: −$3,801
• Est. tax savings @ 24.0%: +$912
• After-tax cash flow: $1,301/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

+373.6% since first listed

35 events — show timeline

• 2026-04-06 Price Changed $259,999 MiRealSource-MiMLS
• 2026-04-06 Price Changed $259,999 REALCOMP
• 2026-04-06 Price Changed $259,999 SW Michigan MLS
• 2026-02-05 Listed $264,900 REALCOMP
• 2026-02-05 Listed $264,900 SW Michigan MLS
• 2026-02-05 Listed $264,900 MiRealSource-MiMLS
• 2020-02-13 Sold (Public Records) $150,000 Public Records
• 2020-01-31 Sold (MLS) $150,000 MiRealSource-MiMLS
• 2020-01-31 Sold (MLS) $150,000 SW Michigan MLS
• 2020-01-31 Sold (MLS) $150,000 REALCOMP
• 2019-12-05 Pending — SW Michigan MLS
• 2019-12-02 Listed $145,000 MiRealSource-MiMLS
• 2019-12-02 Listed $145,000 SW Michigan MLS
• 2019-12-02 Listed $145,000 REALCOMP
• 2013-07-09 Sold (Public Records) $115,000 Public Records
• 2013-06-28 Sold (MLS) $115,000 REALCOMP
• 2013-06-28 Sold (MLS) $115,000 SW Michigan MLS
• 2013-03-23 Listed $115,000 REALCOMP
• 2013-03-23 Listed $115,000 SW Michigan MLS
• 2013-02-26 Sold (MLS) $42,600 REALCOMP
• 2013-02-26 Sold (MLS) $42,600 SW Michigan MLS
• 2013-01-12 Listed $44,500 REALCOMP
• 2013-01-12 Listed $44,500 SW Michigan MLS
• 2005-04-15 Sold (MLS) $95,876 REALCOMP
• 2005-04-15 Sold (MLS) $95,876 SW Michigan MLS
• 2005-01-17 Listed $99,900 REALCOMP
• 2005-01-17 Listed $99,900 SW Michigan MLS
• 2000-08-24 Sold (MLS) $77,900 REALCOMP
• 2000-08-24 Sold (MLS) $77,900 SW Michigan MLS
• 2000-07-18 Listed $77,900 REALCOMP
• 2000-07-18 Listed $77,900 SW Michigan MLS
• 1993-12-27 Sold (MLS) $52,600 REALCOMP
• 1993-12-27 Sold (MLS) $52,600 SW Michigan MLS
• 1993-09-30 Listed $54,900 REALCOMP
• 1993-09-30 Listed $54,900 SW Michigan MLS

Property tax history

+63.5%/yr

Latest (2025): $4,003 · +3.0% YoY. Source: county tax records.