820 Waskin Dr · Tecumseh, MI 49286

$195,000

6 bd · 3.0 ba · 2,040 sqft · SingleFamily · 52 Days on market

Built 1970 0.27 ac lot Est $308k · 37% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Exceptional Investment Opportunity This unique offering features the opportunity to own two side-by-side duplexes, each with three bedrooms and one full bathroom on the second floor, and a spacious living room, dining room, kitchen, and half bathroom on the first floor. Each unit comes with its own private entrance, individual basement access, and separate utilities - perfect for landlords or owner-occupants who wish to live in one unit while renting out the other. Available for sale are four total units (two duplexes) along with a vacant lot, all listed separately with their own MLS numbers. The seller is looking for a cash buyer and prefers to sell the entire package together. The vacant lot is zoned for a duplex, adding further development potential to this already attractive offering. Evictions have been completed on all four units, making them ready for renovations and new tenants. Each unit boasts gas-forced air heating, hardwood floors, and identical layouts across both buildings. The two duplexes differ in exterior finishes - one featuring a half-brick exterior and the other a full vinyl exterior. Conditions vary across the units, but all are being sold as-is, offering an excellent opportunity for an investor willing to bring these properties to their full potential. Don't miss the chance to capitalize on this prime investment opportunity. The total package price is $403,000, 816-818 Waskin Dr, Tecumseh Duplex List Price $180,000 MLS: 20240068100 820- 822 Waskin Dr, Tecumseh Duplex List Price $195,000 MLS: 20240068105 800 Waskin Dr, Tecumseh VACANT LOT List Price $28,000 MLS: 20240068093

Key facts

• Separate utilities
• Zoned for a duplex
• Private entrance

Tags

• TWO SIDE-BY-SIDE DUPLEXES
• PRIVATE ENTRANCE
• INDIVIDUAL BASEMENT ACCESS
• SEPARATE UTILITIES
• ZONED FOR A DUPLEX
• GAS-FORCED AIR HEATING

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $762 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $189k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 3.6% in Tecumseh — 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 78/100 on livability (#103 in MI, #2,459 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Tecumseh Public Schools (town): math 34% / reading 48% proficiency, ranked #181 of 540 in MI (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Tecumseh Acres North Early Learning Center (303 students, 43% FRL); Tecumseh Middle School (math 33% / reading 41%, grade F, #248 of 493 statewide, top 53%, 793 students, 34% FRL); Tecumseh High School (math 37% / reading 72%, grade C-, #109 of 713 statewide, top 17%, 800 students, 33% FRL).
• Market conditions: 96 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 137 units permitted in Lenawee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Lenawee County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $189,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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 B-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. 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: 1.44% ✓
• Cap rate: 10.98%
• Cash-on-cash: 16.74%
• DSCR: 1.74
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $308,040
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
411 W Kilbuck St	0.61mi	5/2.0 (-1)	2,037 (-0%)	2mo	$200,000	$98	61
600 Cairns St	0.65mi	5/2.0 (-1)	1,884 (-8%)	22mo	$285,000	$151	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.31×
• Total profit: $17,011
• Equity at exit: $29,075

10-year hold

• IRR: 17.2%
• Equity multiple: 2.42×
• Total profit: $77,699
• Equity at exit: $16,860

Cash invested: $54,600 (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 49286

• Home prices YoY: -32.9%
• Active inventory: 96
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$347 /mo · $4,159/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $762

Break-even live

Break-even rent $1,836

Max offer price $195,000

Occupancy floor 68%

Sensitivity live

Price	-10% $872	-5% $817	+0% $762	+5% $706	+10% $651
Rent	-10% $540	-5% $651	+0% $762	+5% $872	+10% $983
Rate	-1.0pp $860	-0.5pp $811	base $762	+0.5pp $711	+1.0pp $660

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 W Shawnee St Tecumseh, MI	5.0	2.0	2864	$2,800	$0.98	15d	1	0.98mi

Listing history 8 events

1. 2025-11-03
   status Pending 1622-char remark

   Show marketing remark (1622 chars)

   Exceptional Investment Opportunity This unique offering features the opportunity to own two side-by-side duplexes, each with three bedrooms and one full bathroom on the second floor, and a spacious living room, dining room, kitchen, and half bathroom on the first floor. Each unit comes with its own private entrance, individual basement access, and separate utilities - perfect for landlords or owner-occupants who wish to live in one unit while renting out the other. Available for sale are four total units (two duplexes) along with a vacant lot, all listed separately with their own MLS numbers. The seller is looking for a cash buyer and prefers to sell the entire package together. The vacant lot is zoned for a duplex, adding further development potential to this already attractive offering. Evictions have been completed on all four units, making them ready for renovations and new tenants. Each unit boasts gas-forced air heating, hardwood floors, and identical layouts across both buildings. The two duplexes differ in exterior finishes - one featuring a half-brick exterior and the other a full vinyl exterior. Conditions vary across the units, but all are being sold as-is, offering an excellent opportunity for an investor willing to bring these properties to their full potential. Don't miss the chance to capitalize on this prime investment opportunity. The total package price is $403,000, 816-818 Waskin Dr, Tecumseh Duplex List Price $180,000 MLS: 20240068100 820- 822 Waskin Dr, Tecumseh Duplex List Price $195,000 MLS: 20240068105 800 Waskin Dr, Tecumseh VACANT LOT List Price $28,000 MLS: 20240068093

2. 2025-11-03
   status Pending

   Show marketing remark (1622 chars)

   Exceptional Investment Opportunity This unique offering features the opportunity to own two side-by-side duplexes, each with three bedrooms and one full bathroom on the second floor, and a spacious living room, dining room, kitchen, and half bathroom on the first floor. Each unit comes with its own private entrance, individual basement access, and separate utilities - perfect for landlords or owner-occupants who wish to live in one unit while renting out the other. Available for sale are four total units (two duplexes) along with a vacant lot, all listed separately with their own MLS numbers. The seller is looking for a cash buyer and prefers to sell the entire package together. The vacant lot is zoned for a duplex, adding further development potential to this already attractive offering. Evictions have been completed on all four units, making them ready for renovations and new tenants. Each unit boasts gas-forced air heating, hardwood floors, and identical layouts across both buildings. The two duplexes differ in exterior finishes - one featuring a half-brick exterior and the other a full vinyl exterior. Conditions vary across the units, but all are being sold as-is, offering an excellent opportunity for an investor willing to bring these properties to their full potential. Don't miss the chance to capitalize on this prime investment opportunity. The total package price is $403,000, 816-818 Waskin Dr, Tecumseh Duplex List Price $180,000 MLS: 20240068100 820- 822 Waskin Dr, Tecumseh Duplex List Price $195,000 MLS: 20240068105 800 Waskin Dr, Tecumseh VACANT LOT List Price $28,000 MLS: 20240068093

3. 2025-09-12
   listed $195,000 Active 1622-char remark

   Show marketing remark (1622 chars)

   Exceptional Investment Opportunity This unique offering features the opportunity to own two side-by-side duplexes, each with three bedrooms and one full bathroom on the second floor, and a spacious living room, dining room, kitchen, and half bathroom on the first floor. Each unit comes with its own private entrance, individual basement access, and separate utilities - perfect for landlords or owner-occupants who wish to live in one unit while renting out the other. Available for sale are four total units (two duplexes) along with a vacant lot, all listed separately with their own MLS numbers. The seller is looking for a cash buyer and prefers to sell the entire package together. The vacant lot is zoned for a duplex, adding further development potential to this already attractive offering. Evictions have been completed on all four units, making them ready for renovations and new tenants. Each unit boasts gas-forced air heating, hardwood floors, and identical layouts across both buildings. The two duplexes differ in exterior finishes - one featuring a half-brick exterior and the other a full vinyl exterior. Conditions vary across the units, but all are being sold as-is, offering an excellent opportunity for an investor willing to bring these properties to their full potential. Don't miss the chance to capitalize on this prime investment opportunity. The total package price is $403,000, 816-818 Waskin Dr, Tecumseh Duplex List Price $180,000 MLS: 20240068100 820- 822 Waskin Dr, Tecumseh Duplex List Price $195,000 MLS: 20240068105 800 Waskin Dr, Tecumseh VACANT LOT List Price $28,000 MLS: 20240068093

4. 2025-09-12
   listed $195,000 Active

   Show marketing remark (1622 chars)

   Exceptional Investment Opportunity This unique offering features the opportunity to own two side-by-side duplexes, each with three bedrooms and one full bathroom on the second floor, and a spacious living room, dining room, kitchen, and half bathroom on the first floor. Each unit comes with its own private entrance, individual basement access, and separate utilities - perfect for landlords or owner-occupants who wish to live in one unit while renting out the other. Available for sale are four total units (two duplexes) along with a vacant lot, all listed separately with their own MLS numbers. The seller is looking for a cash buyer and prefers to sell the entire package together. The vacant lot is zoned for a duplex, adding further development potential to this already attractive offering. Evictions have been completed on all four units, making them ready for renovations and new tenants. Each unit boasts gas-forced air heating, hardwood floors, and identical layouts across both buildings. The two duplexes differ in exterior finishes - one featuring a half-brick exterior and the other a full vinyl exterior. Conditions vary across the units, but all are being sold as-is, offering an excellent opportunity for an investor willing to bring these properties to their full potential. Don't miss the chance to capitalize on this prime investment opportunity. The total package price is $403,000, 816-818 Waskin Dr, Tecumseh Duplex List Price $180,000 MLS: 20240068100 820- 822 Waskin Dr, Tecumseh Duplex List Price $195,000 MLS: 20240068105 800 Waskin Dr, Tecumseh VACANT LOT List Price $28,000 MLS: 20240068093

5. 2025-02-26
   historical
6. 2025-02-26
   historical
7. 2024-09-11
   listed $195,000 Active
8. 2024-09-11
   listed $195,000 Active

ⓘ 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: $4,159 · $347/mo
• Projected year-2 tax: $4,159 · $347/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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,600
• − Mortgage interest: −$10,923
• − Property taxes: −$4,159
• − Insurance: −$975
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − Depreciation: −$5,673
• Taxable income: $6,494
• Est. tax owed @ 24.0%: −$1,559
• After-tax cash flow: $7,580/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: Tecumseh Public Schools
• NCES district ID: 2633720
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $58,026
• Composite: 36.04/100
• National rank: #4775
• State rank: #181 of 540 in MI

Livability — Tecumseh

• Score: 78/100
• State rank: #103
• US rank: #2459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tecumseh, MI
• City population: 14,331
• Population (ZIP): 14,331

Population outlook (Lenawee County) Hauer SSP2

• Today (2025): 95,497 people
• By 2030: 92,722 · -2.9%
• By 2040: 85,641 · -10.3%
• By 2050: 77,971 · -18.4%
• By 2075: 60,043 · -37.1%
• By 2100: 41,468 · -56.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 7% Black 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Lenawee

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.8% · Other 1.4%
• 2008→2024 swing: -28.1pp toward R · 2008: 5.1pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+19.9 2016: R+21.1 2012: R+1.3 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.90%
• Current HPI: 234.4935
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

8 events — show timeline

• 2025-11-03 Pending — MiRealSource-MiMLS
• 2025-11-03 Pending — REALCOMP
• 2025-09-12 Listed $195,000 REALCOMP
• 2025-09-12 Listed $195,000 MiRealSource-MiMLS
• 2025-02-26 Listing Removed — REALCOMP
• 2025-02-26 Listing Removed — MiRealSource-MiMLS
• 2024-09-11 Listed $195,000 REALCOMP
• 2024-09-11 Listed $195,000 MiRealSource-MiMLS

Property tax history

+1.2%/yr

Latest (2025): $4,159 · -3.9% YoY. Source: county tax records.