1540 Outer Lane Dr · Ypsilanti, MI 48198

$160,000

3 bd · 1.0 ba · 1,008 sqft · SingleFamily · 188 Days on market

Built 2003 5,663 sqft lot $159/sqft · 11% below area Est $180k · 11% 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).

• Cash flow +21.7/30.0
• ARV discount +12.6/15.0
• DSCR +6.9/10.0
• 1% rule +6.7/10.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Schools +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tenant occupied Ypsilanti home! Ranch Style home with 3 bedrooms and 1 bath. Large and open kitchen. No garage and no basement. Tenant has been there since 2020 and is in contract until March 2026. Currently paying $1,126.95.

Key facts

• 5,663 sq ft lot
• Built 2003
• Listed 187 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.8% in Ypsilanti — 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 81/100 on livability (#71 in MI, #1,539 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment D-.
• Van Buren Public Schools (suburban): math 33% / reading 43% proficiency, ranked #228 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.4%/yr); 167 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).
• This rent runs 35% of the median local income ($63k/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.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 188 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 8y 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 $123k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 188 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is F 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: 1.17% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.57%
• DSCR: 1.29
• GRM: 7.1

CMA / ARV

• ARV (median comp): $180,434
• List price: $160,000
• Delta: -11.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1549 Outer Ln Dr	0.03mi	2/1.0 (-1)	960 (-5%)	1mo	$90,000	$94	85
1787 S Pasadena Ave	0.27mi	3/1.0	1,050 (+4%)	2mo	$215,000	$205	79
2129 Harmon St	0.22mi	3/1.5	1,054 (+5%)	3mo	$206,000	$195	77
1568 Outer Ln Dr	0.02mi	3/1.0	864 (-14%)	2mo	$188,000	$218	74
1109 Buick Ave	0.45mi	3/1.0	1,026 (+2%)	3mo	$146,500	$143	73
1378 Harry St	0.51mi	4/1.0 (+1)	1,008 (0%)	3mo	$230,000	$228	68
830 Eugene St	0.68mi	3/1.0	1,008 (0%)	4mo	$190,400	$189	65
1021 Desoto Ave	0.54mi	3/1.0	968 (-4%)	5mo	$199,900	$207	64
903 Nash Ave	0.68mi	3/1.5	1,036 (+3%)	0mo	$225,000	$217	62
1592 Mollie St	0.65mi	3/1.0	969 (-4%)	3mo	$187,000	$193	60
1561 Mollie St	0.70mi	3/1.0	960 (-5%)	3mo	$178,500	$186	57
1991 S Pasadena Ave	0.42mi	2/1.0 (-1)	864 (-14%)	5mo	$209,000	$242	48

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 · 4.38% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-7,577
• Equity at exit: $23,857

10-year hold

• IRR: 6.9%
• Equity multiple: 1.56×
• Total profit: $25,044
• Equity at exit: $13,834

Cash invested: $44,800 (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 48198

• Rents YoY: 4.4%
• Active inventory: 167
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,870 high
• Mortgage (P&I): −$839
• Tax from tax record: −$327 /mo · $3,918/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $245

Break-even live

Break-even rent $1,560

Max offer price $160,000

Occupancy floor 82%

Sensitivity live

Price	-10% $336	-5% $290	+0% $245	+5% $200	+10% $155
Rent	-10% $97	-5% $171	+0% $245	+5% $319	+10% $393
Rate	-1.0pp $326	-0.5pp $286	base $245	+0.5pp $204	+1.0pp $161

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1311 Nash Ave Ypsilanti, MI	3.0	1.0	1200	$1,800	$1.50	19d	1	0.25mi
2355 Briardale Ct Ypsilanti, MI	3.0	1.0	1200	$1,800	$1.50	44d	1	0.33mi
719 Oswego Ave Ypsilanti, MI	3.0	1.0	1200	$1,800	$1.50	21d	1	0.66mi
677 Onandaga Ave Ypsilanti, MI	4.0	2.0	1412	$2,300	$1.63	0d	1	0.79mi
1428 Village Ln Ypsilanti, MI	1.0–2.0	1.0	860	$1,550	$1.80	44d	1	0.80mi
590 Olds St Ypsilanti, MI	3.0	1.0	1188	$1,600	$1.35	25d	1	1.01mi
8753 Spinnaker Way Ypsilanti, MI	3.0	1.0–2.0	893	$2,010	$2.25	0d	15	1.34mi

Listing history 48 events

1. 2026-06-21
   days on market $160,000 Active 188 DOM
2. 2026-06-18
   days on market $160,000 Active 185 DOM
3. 2026-06-17
   days on market $160,000 Active 184 DOM
4. 2026-06-16
   days on market $160,000 Active 183 DOM
5. 2026-06-15
   days on market $160,000 Active 182 DOM
6. 2026-06-13
   days on market $160,000 Active 180 DOM
7. 2026-06-09
   days on market $160,000 Active 176 DOM
8. 2026-06-08
   days on market $160,000 Active 175 DOM
9. 2026-06-07
   days on market $160,000 Active 174 DOM
10. 2026-06-04
    days on market $160,000 Active 171 DOM
11. 2026-06-03
    days on market $160,000 Active 170 DOM
12. 2026-06-02
    days on market $160,000 Active 169 DOM
13. 2026-06-01
    days on market $160,000 Active 168 DOM
14. 2026-05-31
    days on market $160,000 Active 167 DOM
15. 2025-12-15
    listed $160,000 Active 225-char remark

    Show marketing remark (231 chars)

    Tenant occupied Ypsilanti home! Ranch Style home with 3 bedrooms and 1 bath. Large and open kitchen. No garage and no basement. Tenant has been there since 2020 and is in contract until March 2026. Currently paying $1,126.95.

16. 2025-12-15
    listed $160,000 Active 231-char remark

    Show marketing remark (231 chars)

    Tenant occupied Ypsilanti home! Ranch Style home with 3 bedrooms and 1 bath. Large and open kitchen. No garage and no basement. Tenant has been there since 2020 and is in contract until March 2026. Currently paying $1,126.95.

17. 2025-12-15
    listed $160,000 Active

    Show marketing remark (231 chars)

    Tenant occupied Ypsilanti home! Ranch Style home with 3 bedrooms and 1 bath. Large and open kitchen. No garage and no basement. Tenant has been there since 2020 and is in contract until March 2026. Currently paying $1,126.95.

18. 2021-06-15
    soldstatus $123,000
19. 2019-06-11
    soldstatus $115,000
20. 2018-12-19
    soldstatus $72,000
21. 2018-12-07
    soldstatus $72,000 Sold
22. 2018-12-07
    soldstatus $72,000 Sold
23. 2018-12-07
    soldstatus $72,000
24. 2018-12-07
    soldstatus $72,000 Closed
25. 2018-12-07
    soldstatus $72,000 Sold
26. 2018-12-07
    soldstatus $72,000
27. 2018-12-07
    soldstatus $72,000 Sold
28. 2018-12-07
    soldstatus $72,000
29. 2018-12-07
    soldstatus $72,000
30. 2018-12-07
    soldstatus $72,000 Closed
31. 2018-10-19
    status Pending
32. 2018-10-19
    status Pending
33. 2018-10-19
    status Pending
34. 2018-10-12
    status Pending
35. 2018-10-12
    status Pending
36. 2018-10-12
    status Pending
37. 2018-10-08
    listed $80,000 Active
38. 2018-10-08
    listed $80,000 Active
39. 2018-10-08
    listed $80,000
40. 2018-10-08
    listed $80,000 Active
41. 2018-10-08
    listed $80,000 Active
42. 2018-10-08
    listed $80,000
43. 2018-10-08
    listed $80,000 Active
44. 2018-10-08
    listed $80,000
45. 2018-10-08
    listed $80,000
46. 2018-10-08
    listed $80,000 Active
47. 2004-11-22
    soldstatus $104,000
48. 2002-05-16
    soldstatus $11,681

ⓘ 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: $3,918 · $327/mo
• Projected year-2 tax: $3,918 · $327/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 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: $22,441
• − Mortgage interest: −$8,962
• − Property taxes: −$3,918
• − Insurance: −$800
• − Repairs & maintenance: −$1,795
• − Management: −$1,795
• − Depreciation: −$4,655
• Taxable income: $515
• Est. tax owed @ 24.0%: −$124
• After-tax cash flow: $2,818/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: Van Buren Public Schools
• NCES district ID: 2634560
• Math proficiency: 33% ▲ 6.00%
• Reading proficiency: 43% ▲ 6.00%
• Median HH income: $54,166
• Composite: 33.2/100
• National rank: #5533
• State rank: #228 of 540 in MI

Livability — Ypsilanti

• Score: 81/100
• State rank: #71
• US rank: #1539

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment D- Housing A Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washtenaw County · 306,860 people
• City population: 105,769
• Metro: Ann Arbor, MI
• Population (ZIP): 39,244
• Household income: $63,326
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1998.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 48% Black 32% Two or more races 11% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -224.96%
• Current HPI: 204.1228
• Rent YoY: ▲ 4.38%
• Metro: Ann Arbor, 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

+1269.7% since first listed

34 events — show timeline

• 2025-12-15 Listed $160,000 REALCOMP
• 2025-12-15 Listed $160,000 MiRealSource-MiMLS
• 2025-12-15 Listed $160,000 SW Michigan MLS
• 2021-06-15 Sold (Public Records) $123,000 Public Records
• 2019-06-11 Sold (Public Records) $115,000 Public Records
• 2018-12-19 Sold (Public Records) $72,000 Public Records
• 2018-12-07 Sold (MLS) $72,000 MiRealSource-MiMLS
• 2018-12-07 Sold (MLS) $72,000 SW Michigan MLS
• 2018-12-07 Sold (MLS) $72,000 SW Michigan MLS
• 2018-12-07 Sold (MLS) $72,000 AAMLS
• 2018-12-07 Sold (MLS) $72,000 MiRealSource-MiMLS
• 2018-12-07 Sold (MLS) $72,000 AAMLS
• 2018-12-07 Sold (MLS) $72,000 MiRealSource-MiMLS
• 2018-12-07 Sold (MLS) $72,000 MiRealSource-MiMLS
• 2018-12-07 Sold (MLS) $72,000 REALCOMP
• 2018-12-07 Sold (MLS) $72,000 REALCOMP
• 2018-10-19 Pending — MiRealSource-MiMLS
• 2018-10-19 Pending — REALCOMP
• 2018-10-19 Pending — AAMLS
• 2018-10-12 Pending — MiRealSource-MiMLS
• 2018-10-12 Pending — REALCOMP
• 2018-10-12 Pending — AAMLS
• 2018-10-08 Listed $80,000 MiRealSource-MiMLS
• 2018-10-08 Listed $80,000 SW Michigan MLS
• 2018-10-08 Listed $80,000 SW Michigan MLS
• 2018-10-08 Listed $80,000 AAMLS
• 2018-10-08 Listed $80,000 MiRealSource-MiMLS
• 2018-10-08 Listed $80,000 AAMLS
• 2018-10-08 Listed $80,000 MiRealSource-MiMLS
• 2018-10-08 Listed $80,000 MiRealSource-MiMLS
• 2018-10-08 Listed $80,000 REALCOMP
• 2018-10-08 Listed $80,000 REALCOMP
• 2004-11-22 Sold (Public Records) $104,000 Public Records
• 2002-05-16 Sold (Public Records) $11,681 Public Records

Property tax history

+9.2%/yr

Latest (2025): $3,918 · -29.9% YoY. Source: county tax records.