4716 Lexington Ave · Portage, MI 49002

$174,900

3 bd · 1.0 ba · 952 sqft · SingleFamily · 7 Days on market

Built 1961 10,454 sqft lot Est $187k · 6% under

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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 +28.2/30.0
• ARV discount +10.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.5/10.0
• Rent growth +5.0/5.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming and affordable Portage home with peaceful creek views right in your backyard! This cozy property offers a quiet setting while still being conveniently located near shopping, restaurants, parks, and schools. Enjoy the sound of the creek and the privacy of the outdoor space, perfect for relaxing evenings or entertaining guests. Bring your vision and personal touches, as this home offers plenty of potential for those looking to add value and create the home of their dreams. This lovely 3 bedroom, 1 bath home includes several recent upgrades! Current updates include a NEW metal roof, NEW electrical panel, and a NEW professionally installed basement waterproofing system (2026), providing added peace of mind for years to come. The kitchen offers ample cabinet & counter space. .. .and appliances are included! You will love the open floor plan. From the kitchen, and dining space to the living room area, the rooms flow effortlessly together. The hardwood floors in the bedrooms add timeless character and warmth to these rooms. Just down the hall you will find the full bathroom, with some charming, vintage details! Need additional living space? The basement is a blank canvas waiting for your personal vision! There is also an additional room that would be perfect for a craft area or workshop. Just steps from the home, the two-car garage is terrific for storing your vehicle, lawn care items or just for storage! The backyard offers ideal space for a fire pit, kids play equipment, entertaining friends, family, pets & more! Whether you're looking for your first home, an investment property, or a low-maintenance place to downsize, this home is full of potential and value in a desirable Portage location. Schedule your showing today, home is available to all loan types.

Key facts

• Creek views
• Recent upgrades
• Metal roof

Tags

• CREEK VIEWS
• OUTDOOR SPACE
• RECENT UPGRADES
• METAL ROOF
• ELECTRICAL PANEL
• BASEMENT WATERPROOFING

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Cable connected
• Home design: Ranch-style single family home; One story
• Construction: Built in 1961; Aluminum siding; Metal roof; 952 total building area
• Exterior features: Paved road access; Waterfront property

Interior

• Kitchen: Kitchen (10.1 x 11.7); Oven; Range; Refrigerator
• Bedrooms: Primary bedroom (13.3 x 10.7); Bedroom 2 (10.1 x 9.9); Bedroom 3 (8.7 x 9.9)
• Bathrooms: One full bathroom (9.5 x 5.5)
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Full basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Cap rate 10.1% 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; 2 comparable units currently listed for rent nearby; 339 units permitted in Kalamazoo County in 2024 (22 in 5+ unit buildings).
• This rent runs 36% 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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 39y 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.

Recommended offer $174,900

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.25% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.56%
• DSCR: 1.60
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $186,592
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4722 Lexington Ave	0.01mi	3/1.0	952 (0%)	2mo	$225,000	$236	98
4527 Hanover Ave	0.16mi	3/1.0	952 (0%)	9mo	$121,000	$127	85
5726 Meredith St	0.24mi	3/1.5	960 (+1%)	7mo	$178,500	$186	79
5620 Cheshire St	0.25mi	3/1.5	1,010 (+6%)	0mo	$224,000	$222	76
5532 Bedford St	0.07mi	3/1.0	960 (+1%)	23mo	$188,000	$196	76
5737 Cheshire St	0.28mi	3/1.0	960 (+1%)	12mo	$190,000	$198	75
5725 Cheshire St	0.27mi	3/1.0	960 (+1%)	18mo	$198,850	$207	71
5509 S Sprinkle Rd	0.38mi	3/1.0	960 (+1%)	22mo	$185,724	$193	62
5514 Cabot St	0.35mi	3/1.5	1,073 (+13%)	4mo	$145,000	$135	58

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: 9.1%
• Equity multiple: 1.38×
• Total profit: $18,500
• Equity at exit: $26,078

10-year hold

• IRR: 22.1%
• Equity multiple: 3.33×
• Total profit: $114,230
• Equity at exit: $15,122

Cash invested: $48,972 (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: 127
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,190 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$186 /mo · $2,235/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $554

Break-even live

Break-even rent $1,489

Max offer price $174,900

Occupancy floor 70%

Sensitivity live

Price	-10% $653	-5% $603	+0% $554	+5% $504	+10% $455
Rent	-10% $381	-5% $467	+0% $554	+5% $640	+10% $727
Rate	-1.0pp $642	-0.5pp $598	base $554	+0.5pp $508	+1.0pp $462

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5141 S Wagon Trl Kalamazoo, MI	3.0	1.0–2.0	1055	$2,050	$1.94	45d	16	0.35mi
5374 E Deadwood Dr Portage, MI	1.0–3.0	1.0–2.0	788	$1,349	$1.71	14d	1	0.51mi

Listing history 26 events

1. 2026-06-03
   status $174,900 Pending 7 DOM
2. 2026-06-02
   days on market $174,900 Active 7 DOM
3. 2026-06-01
   days on market $174,900 Active 6 DOM
4. 2026-05-31
   days on market $174,900 Active 5 DOM
5. 2026-05-30
   days on market $174,900 Active 4 DOM
6. 2026-05-27
   listed $174,900 Active 1804-char remark

   Show marketing remark (1804 chars)

   Charming and affordable Portage home with peaceful creek views right in your backyard! This cozy property offers a quiet setting while still being conveniently located near shopping, restaurants, parks, and schools. Enjoy the sound of the creek and the privacy of the outdoor space, perfect for relaxing evenings or entertaining guests. Bring your vision and personal touches, as this home offers plenty of potential for those looking to add value and create the home of their dreams. This lovely 3 bedroom, 1 bath home includes several recent upgrades! Current updates include a NEW metal roof, NEW electrical panel, and a NEW professionally installed basement waterproofing system (2026), providing added peace of mind for years to come. The kitchen offers ample cabinet & counter space. .. .and appliances are included! You will love the open floor plan. From the kitchen, and dining space to the living room area, the rooms flow effortlessly together. The hardwood floors in the bedrooms add timeless character and warmth to these rooms. Just down the hall you will find the full bathroom, with some charming, vintage details! Need additional living space? The basement is a blank canvas waiting for your personal vision! There is also an additional room that would be perfect for a craft area or workshop. Just steps from the home, the two-car garage is terrific for storing your vehicle, lawn care items or just for storage! The backyard offers ideal space for a fire pit, kids play equipment, entertaining friends, family, pets & more! Whether you're looking for your first home, an investment property, or a low-maintenance place to downsize, this home is full of potential and value in a desirable Portage location. Schedule your showing today, home is available to all loan types.

7. 2026-05-26
   listed $174,900 Active 961-char remark

   Show marketing remark (961 chars)

   Charming and affordable Portage home with peaceful creek views right in your backyard! This cozy property offers a quiet setting while still being conveniently located near shopping, restaurants, parks, and schools. Enjoy the sound of the creek and the privacy of the outdoor space, perfect for relaxing evenings or entertaining guests. Bring your vision and personal touches, as this home offers plenty of potential for those looking to add value and create the home of their dreams. This lovely 3 bedroom, 1 bath home includes several recent upgrades! Current updates include a NEW metal roof, NEW electrical panel, and a NEW professionally installed basement waterproofing system (2026), providing added peace of mind for years to come. The kitchen offers ample cabinet & counter space. .. .and appliances are included! You will love the open floor plan. From the kitchen, and dining space to the living room area, the rooms flow effortlessly together.

8. 2026-05-26
   listed $174,900 Active

   Show marketing remark (961 chars)

   Charming and affordable Portage home with peaceful creek views right in your backyard! This cozy property offers a quiet setting while still being conveniently located near shopping, restaurants, parks, and schools. Enjoy the sound of the creek and the privacy of the outdoor space, perfect for relaxing evenings or entertaining guests. Bring your vision and personal touches, as this home offers plenty of potential for those looking to add value and create the home of their dreams. This lovely 3 bedroom, 1 bath home includes several recent upgrades! Current updates include a NEW metal roof, NEW electrical panel, and a NEW professionally installed basement waterproofing system (2026), providing added peace of mind for years to come. The kitchen offers ample cabinet & counter space. .. .and appliances are included! You will love the open floor plan. From the kitchen, and dining space to the living room area, the rooms flow effortlessly together.

9. 2022-05-25
   historical
10. 2014-09-24
    historical
11. 2014-09-18
    historical
12. 2014-09-17
    historical
13. 2013-01-10
    historical
14. 2012-02-01
    listed $78,800
15. 2012-02-01
    listed $78,800
16. 2012-01-31
    historical
17. 2010-02-05
    listed $83,900
18. 2010-02-05
    listed $83,900
19. 2008-08-14
    historical
20. 2007-08-14
    listed $95,000
21. 2007-08-14
    listed $95,000
22. 2007-05-14
    historical
23. 2006-05-30
    listed $102,500
24. 2006-05-30
    listed $102,500
25. 1987-09-03
    listed $39,900
26. 1987-09-03
    listed $39,900

ⓘ 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: $2,235 · $186/mo
• Projected year-2 tax: $2,464 · $205/mo
• Expected delta: +$229/yr (+$19/mo · 10.3%)

ⓘ 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,276
• − Mortgage interest: −$9,797
• − Property taxes: −$2,235
• − Insurance: −$874
• − Repairs & maintenance: −$2,102
• − Management: −$2,102
• − Depreciation: −$5,088
• Taxable income: $4,078
• Est. tax owed @ 24.0%: −$979
• After-tax cash flow: $5,664/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

+338.3% since first listed

21 events — show timeline

• 2026-05-27 Listed $174,900 REALCOMP
• 2026-05-26 Listed $174,900 SW Michigan MLS
• 2026-05-26 Listed $174,900 MiRealSource-MiMLS
• 2022-05-25 Listing Removed — REALCOMP
• 2014-09-24 Listing Removed — SW Michigan MLS
• 2014-09-18 Listing Removed — SW Michigan MLS
• 2014-09-17 Listing Removed — SW Michigan MLS
• 2013-01-10 Listing Removed — REALCOMP
• 2012-02-01 Listed $78,800 REALCOMP
• 2012-02-01 Listed $78,800 SW Michigan MLS
• 2012-01-31 Listing Removed — REALCOMP
• 2010-02-05 Listed $83,900 REALCOMP
• 2010-02-05 Listed $83,900 SW Michigan MLS
• 2008-08-14 Listing Removed — REALCOMP
• 2007-08-14 Listed $95,000 REALCOMP
• 2007-08-14 Listed $95,000 SW Michigan MLS
• 2007-05-14 Listing Removed — SW Michigan MLS
• 2006-05-30 Listed $102,500 SW Michigan MLS
• 2006-05-30 Listed $102,500 REALCOMP
• 1987-09-03 Listed $39,900 REALCOMP
• 1987-09-03 Listed $39,900 SW Michigan MLS

Property tax history

+46.5%/yr

Latest (2025): $2,235 · +0.3% YoY. Source: county tax records.