2315 Prosperity Dr · Portage, MI 49002

$249,900

2 bd · 1.0 ba · 1,572 sqft · SingleFamily · 11 Days on market

Built 1979 0.30 ac lot Est $244k · at est.

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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).

• Cash flow +11.6/30.0
• ARV discount +6.3/15.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• DSCR +3.4/10.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * OPEN HOUSE * * 4/12 * * 12-2PM * * Welcome to this beautifully updated ranch in desirable Portage, a great value under $250,000. Major improvements have already been completed, including a new furnace/AC and water heater (2021), roof replacement (2016), and energy-efficient solar panels installed two years ago to help keep utility costs low. Inside, you'll find stylish vinyl plank flooring throughout the main level, along with fresh paint in most rooms. The kitchen shines with newer stainless steel appliances and freshly painted cabinetry, creating a clean and modern feel. The bathroom has been tastefully updated with bamboo flooring and a newer toilet. The spacious living room provides plenty of room to relax. The primary bedroom is huge and the second is good sized too. Downstairs, the finished basement expands your living space with a cozy family room and bar area--perfect for entertaining. Additionally the stove, refrigerator and washer/dryer are included.

Key facts

• Updated ranch
• Water heater
• Roof replacement

Tags

• UPDATED RANCH
• NEW FURNACE AC
• WATER HEATER
• ROOF REPLACEMENT
• ENERGY EFFICIENT SOLAR PANELS
• VINYL PLANK FLOORING

Property features AI

Exterior

• Parking: Attached garage (1 space)
• Utilities: Public water; Cable connected; Natural gas water heater
• Home design: Ranch-style single family home; Built in 1979
• Construction: Aluminum siding; Composition roof; Built 1979
• Exterior features: Wooded lot; Paved road access

Interior

• Kitchen: Dishwasher; Oven; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Garage door opener; Eat-in kitchen; Insulated windows; Full basement
• Laundry & utility: Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-77 ($-922/yr) — negative.
• To cash-flow at today's rent, offer at most $236k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (20.8% below list).
• Recommended offer: $198k (20.8% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: Central Elementary School (math 42% / reading 52%, grade D-, #433 of 1,397 statewide, top 34%, 448 students, 34% 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 24% FRL track the district average.
• Market conditions: Rents rising fast (+11.3%/yr); 129 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 32% of the median local income ($74k/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 $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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 14y 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 $84k; list at $250k implies a 198% gain — meaningful room to come down on a strong offer.

Recommended offer $197,970 (20.8% 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. Built in 1979 — 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. 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?
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: 0.79% ✗
• Cap rate: 5.92%
• Cash-on-cash: -1.32%
• DSCR: 0.94
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $243,660
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2315 Prosperity Dr	0.00mi	2/1.0	1,572 (0%)	1mo	$249,900	$159	99
2010 Prosperity Dr	0.20mi	3/1.0 (+1)	1,583 (+1%)	20mo	$229,900	$145	68
2110 Pleasant Dr	0.14mi	3/1.5 (+1)	1,640 (+4%)	14mo	$259,900	$158	68
1803 Prosperity Dr	0.33mi	3/1.5 (+1)	1,475 (-6%)	3mo	$279,000	$189	65
8321 Oakside St	0.19mi	3/1.0 (+1)	1,679 (+7%)	19mo	$250,000	$149	59
8405 Newells Ln	0.44mi	3/1.5 (+1)	1,698 (+8%)	2mo	$288,500	$170	57
1934 Thrushwood Ave	0.38mi	2/1.5	1,683 (+7%)	22mo	$180,000	$107	50
1511 Lake Ave	0.62mi	3/1.5 (+1)	1,422 (-10%)	9mo	$220,000	$155	40
1609 Jonathon Dr	0.53mi	3/1.0 (+1)	1,376 (-12%)	18mo	$205,000	$149	34
1203 E Centre Ave	0.74mi	3/1.0 (+1)	1,382 (-12%)	8mo	$280,000	$203	33
8423 Newells Ln	0.46mi	3/1.0 (+1)	1,797 (+14%)	22mo	$234,500	$130	31

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: -13.3%
• Equity multiple: 0.50×
• Total profit: $-34,949
• Equity at exit: $37,261

10-year hold

• IRR: 1.8%
• Equity multiple: 1.15×
• Total profit: $10,789
• 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 49002

• Rents YoY: 11.3%
• Active inventory: 129
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,980 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$226 /mo · $2,714/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $-77

Break-even live

Break-even rent $2,077

Max offer price $236,326

Occupancy floor 99%

Sensitivity live

Price	-10% $65	-5% $-6	+0% $-77	+5% $-148	+10% $-218
Rent	-10% $-233	-5% $-155	+0% $-77	+5% $1	+10% $80
Rate	-1.0pp $49	-0.5pp $-13	base $-77	+0.5pp $-142	+1.0pp $-207

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 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2011 E Centre Ave Portage, MI	2.0	1.5	1116	$1,575	$1.41	15d	1	0.29mi
1847 Bluff Ridge Ct Portage, MI	3.0	2.0	1610	$2,995	$1.86	23d	1	1.21mi

Listing history 12 events

1. 2026-06-13
   listing id $249,900 Pending 11 DOM
2. 2026-04-20
   status Pending 989-char remark

   Show marketing remark (1041 chars)

   * * OPEN HOUSE * * 4/12 * * 12-2PM * * Welcome to this beautifully updated ranch in desirable Portage, a great value under $250,000. Major improvements have already been completed, including a new furnace/AC and water heater (2021), roof replacement (2016), and energy-efficient solar panels installed two years ago to help keep utility costs low. Inside, you'll find stylish vinyl plank flooring throughout the main level, along with fresh paint in most rooms. The kitchen shines with newer stainless steel appliances and freshly painted cabinetry, creating a clean and modern feel. The bathroom has been tastefully updated with bamboo flooring and a newer toilet. The spacious living room provides plenty of room to relax. The primary bedroom is huge and the second is good sized too. Downstairs, the finished basement expands your living space with a cozy family room and bar area--perfect for entertaining. Additionally the stove, refrigerator and washer/dryer are included. A brick patio, and a large fenced backyard as well.

3. 2026-04-20
   status Pending 1041-char remark

   Show marketing remark (1041 chars)

   * * OPEN HOUSE * * 4/12 * * 12-2PM * * Welcome to this beautifully updated ranch in desirable Portage, a great value under $250,000. Major improvements have already been completed, including a new furnace/AC and water heater (2021), roof replacement (2016), and energy-efficient solar panels installed two years ago to help keep utility costs low. Inside, you'll find stylish vinyl plank flooring throughout the main level, along with fresh paint in most rooms. The kitchen shines with newer stainless steel appliances and freshly painted cabinetry, creating a clean and modern feel. The bathroom has been tastefully updated with bamboo flooring and a newer toilet. The spacious living room provides plenty of room to relax. The primary bedroom is huge and the second is good sized too. Downstairs, the finished basement expands your living space with a cozy family room and bar area--perfect for entertaining. Additionally the stove, refrigerator and washer/dryer are included. A brick patio, and a large fenced backyard as well.

4. 2026-04-20
   status Pending

   Show marketing remark (1041 chars)

   * * OPEN HOUSE * * 4/12 * * 12-2PM * * Welcome to this beautifully updated ranch in desirable Portage, a great value under $250,000. Major improvements have already been completed, including a new furnace/AC and water heater (2021), roof replacement (2016), and energy-efficient solar panels installed two years ago to help keep utility costs low. Inside, you'll find stylish vinyl plank flooring throughout the main level, along with fresh paint in most rooms. The kitchen shines with newer stainless steel appliances and freshly painted cabinetry, creating a clean and modern feel. The bathroom has been tastefully updated with bamboo flooring and a newer toilet. The spacious living room provides plenty of room to relax. The primary bedroom is huge and the second is good sized too. Downstairs, the finished basement expands your living space with a cozy family room and bar area--perfect for entertaining. Additionally the stove, refrigerator and washer/dryer are included. A brick patio, and a large fenced backyard as well.

5. 2026-04-09
   listed $249,900 Active 1041-char remark

   Show marketing remark (989 chars)

   * * OPEN HOUSE * * 4/12 * * 12-2PM * * Welcome to this beautifully updated ranch in desirable Portage, a great value under $250,000. Major improvements have already been completed, including a new furnace/AC and water heater (2021), roof replacement (2016), and energy-efficient solar panels installed two years ago to help keep utility costs low. Inside, you'll find stylish vinyl plank flooring throughout the main level, along with fresh paint in most rooms. The kitchen shines with newer stainless steel appliances and freshly painted cabinetry, creating a clean and modern feel. The bathroom has been tastefully updated with bamboo flooring and a newer toilet. The spacious living room provides plenty of room to relax. The primary bedroom is huge and the second is good sized too. Downstairs, the finished basement expands your living space with a cozy family room and bar area--perfect for entertaining. Additionally the stove, refrigerator and washer/dryer are included.

6. 2026-04-09
   listed $249,900 Active 989-char remark

   Show marketing remark (989 chars)

   * * OPEN HOUSE * * 4/12 * * 12-2PM * * Welcome to this beautifully updated ranch in desirable Portage, a great value under $250,000. Major improvements have already been completed, including a new furnace/AC and water heater (2021), roof replacement (2016), and energy-efficient solar panels installed two years ago to help keep utility costs low. Inside, you'll find stylish vinyl plank flooring throughout the main level, along with fresh paint in most rooms. The kitchen shines with newer stainless steel appliances and freshly painted cabinetry, creating a clean and modern feel. The bathroom has been tastefully updated with bamboo flooring and a newer toilet. The spacious living room provides plenty of room to relax. The primary bedroom is huge and the second is good sized too. Downstairs, the finished basement expands your living space with a cozy family room and bar area--perfect for entertaining. Additionally the stove, refrigerator and washer/dryer are included.

7. 2026-04-09
   listed $249,900 Active

   Show marketing remark (989 chars)

   * * OPEN HOUSE * * 4/12 * * 12-2PM * * Welcome to this beautifully updated ranch in desirable Portage, a great value under $250,000. Major improvements have already been completed, including a new furnace/AC and water heater (2021), roof replacement (2016), and energy-efficient solar panels installed two years ago to help keep utility costs low. Inside, you'll find stylish vinyl plank flooring throughout the main level, along with fresh paint in most rooms. The kitchen shines with newer stainless steel appliances and freshly painted cabinetry, creating a clean and modern feel. The bathroom has been tastefully updated with bamboo flooring and a newer toilet. The spacious living room provides plenty of room to relax. The primary bedroom is huge and the second is good sized too. Downstairs, the finished basement expands your living space with a cozy family room and bar area--perfect for entertaining. Additionally the stove, refrigerator and washer/dryer are included.

8. 2013-03-06
   soldstatus $84,000
9. 2013-02-28
   soldstatus $84,000
10. 2013-02-28
    soldstatus $84,000
11. 2012-10-22
    listed $84,900
12. 2012-10-22
    listed $84,900

ⓘ 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: $2,714 · $226/mo
• Projected year-2 tax: $3,281 · $273/mo
• Expected delta: +$567/yr (+$47/mo · 20.9%)

ⓘ 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: $23,756
• − Mortgage interest: −$13,998
• − Property taxes: −$2,714
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,901
• − Management: −$1,901
• − Depreciation: −$7,270
• Taxable loss: −$5,276
• Est. tax savings @ 24.0%: +$1,266
• After-tax cash flow: $344/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

+194.3% since first listed

11 events — show timeline

• 2026-04-20 Pending — MiRealSource-MiMLS
• 2026-04-20 Pending — REALCOMP
• 2026-04-20 Pending — SW Michigan MLS
• 2026-04-09 Listed $249,900 REALCOMP
• 2026-04-09 Listed $249,900 SW Michigan MLS
• 2026-04-09 Listed $249,900 MiRealSource-MiMLS
• 2013-03-06 Sold (Public Records) $84,000 Public Records
• 2013-02-28 Sold (MLS) $84,000 REALCOMP
• 2013-02-28 Sold (MLS) $84,000 SW Michigan MLS
• 2012-10-22 Listed $84,900 REALCOMP
• 2012-10-22 Listed $84,900 SW Michigan MLS

Property tax history

+54.2%/yr

Latest (2025): $2,714 · +3.0% YoY. Source: county tax records.