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$260,000

For Sale - Active
10933 Portage Rd, Portage, MI 49002
3 Beds
2 Baths
1,248 Square Feet
0.21 Acres Lot
Built in 1920
For Sale - Active
Units n/a
Checked: 22 hours ago
Updated: Jun 04, 2025 at 11:03AM

Investment Summary


Monthly Cash Flow
-$370
Cap Rate
4.4%
Cash-on-Cash Return
-7.4%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-3.2%

Property Description


0.21 Acres Lot
Built in 1920
For Sale - Active
Units n/a

Discover the perfect blend of classic charm and serene lakeside living with this beautifully maintained 3beds home nestled along the sparkling shores of Gourdneck Lake in Portage. Set on a spacious lot, this home offers breathtaking views, direct water access across the street, and the kind of peace only lakefront living can provide. From the moment you arrive, the home's warm, inviting character is evident in its timeless architecture. Step outside to enjoy a private dock, ideal for boating, fishing, or simply soaking in the sunset. A generous lakeside deck and landscaped yard create a perfect setting for summer gatherings, family barbecues, or quiet mornings with a cup of coffee. Located just minutes from Portage amenities yet worlds away from the hustle, this Gourdneck Lake gem offers the best of both convenience and escape with the award winning school district! Come experience the charm, tranquility, and lasting value of lakeside living, schedule your private tour today!

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Location


Property Details


Parking

  • Details: Carport, Paved
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Partial): 1
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Partial

Exterior Features

  • Exterior Walls Materials: Wood Siding
  • Roof Material: Composition
  • Pool: Yes

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 1002800017O
  • Lot Size: 9322 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1920

Tax Information

  • Annual Tax: $5,019

Utilities

  • Water & Sewer: Private, Well
  • Heating: Natural Gas, Forced Air
  • Cooling: Ceiling Fan(s), Central Air

Location

  • County: Kalamazoo

Listing Details


Listed by:
Twigy Feng
Berkshire Hathaway HomeServices MI
(269) 303-8428

Source:
Southwestern Michigan Association of REALTORS
MLS#: 25024874
Southwestern Michigan Association of REALTORS

Investment Summary


Monthly Cash Flow
-$370
Cap Rate
4.4%
Cash-on-Cash Return
-7.4%
Debt Coverage Ratio
0.72
Internal Rate of Return (5 years)
-3.2%

Purchase Details

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Purchase price:
$260,000
Amount financed:
-$208,000
Down payment:
$52,000
Closing costs:
$7,800
Rehab costs:
$0
Initial cash invested:
$59,800
Square feet:
1,248
Cost per square foot:
$208
Monthly rent per square foot:
$1.60

Financing Details

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Loan amount:
$208,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.625%
Principal & interest:
$1,332
Property tax:
$418
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,890

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (21%)
21%-$418-$5,019
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (46%)
46%-$918-$11,019

Cash Flow


Monthly Yearly
Net operating income:
$962 $11,544
Mortgage payments:
-$1,332 -$15,984
Cash flow:
$370 $4,440