482 Red Cedar Blvd · Williamston, MI 48895

$175,000

2 bd · 2.0 ba · 1,852 sqft · Land · 33 Days on market

Built 1987 $398/mo HOA

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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 +18.5/30.0
• ARV discount +8.6/15.0
• 1% rule +7.8/10.0
• DSCR +5.8/10.0
• Schools +5.0/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to carefree living in the beautiful town of Williamston! With over 1,800 square feet of finished living space, this ranch-style condo is ready for a new owner. This 55+ retirement community offers the perfect balance of a quiet neighborhood while being within walking distance to everything downtown Williamston has to offer - shopping, restaurants, parks, and more. This 2 bedroom, 2 bathroom home features a finished basement with a bonus third room, and an attached garage! As you walk through the front door you will notice the open floorplan offering an easily accessible flow from the living room, dining area, and main-level living room. Enjoy the fresh coat of paint on the main floor! The three-season room off the living room is the perfect place to curl up with a book. The main level features two generously sized bedrooms with ample closet space and a full bathroom. Downstairs you will find a large living room and lower level third "bedroom" (no egress window) that has brand new carpeting! The basement also features a full bathroom. The laundry / utility room serves as excellent storage space. The HOA is responsible for the roof, siding, furnace/boiler, hot water heater, water and sewer bills, taxes, snow/ lawn care and insurance. This is stress-free ownership located within a friendly community. Pets are allowed ~ see community rules for specific guidelines. Due to the nature of a cooperative community, this is a cash-only sale.

Key facts

• $398 HOA
• Garage
• Built 1987

🏢 Co-op / cooperative unit. The $175,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $175k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 86/100 on livability (#19 in MI, #359 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities D-, health & safety D-.
• Williamston Community Schools (town): math 49% / reading 62% proficiency, ranked #55 of 540 in MI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 59 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 350 units permitted in Ingham County in 2024 (186 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 $5k of value loss. Plan a longer hold.
• Ingham County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 18y 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 $74k; list at $175k implies a 136% gain — meaningful room to come down on a strong offer.

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.28% ✓
• Cap rate: 7.44%
• Cash-on-cash: 4.10%
• DSCR: 1.18
• GRM: 6.5

CMA / ARV

• ARV (median comp): $179,292
• List price: $175,000
• Delta: -2.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.7%
• Equity multiple: 0.64×
• Total profit: $-17,410
• Equity at exit: $26,093

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-292
• Equity at exit: $15,131

Cash invested: $49,000 (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 48895

• Active inventory: 59
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $2,247 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$398
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $168

Break-even live

Break-even rent $2,035

Max offer price $175,000

Occupancy floor 88%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 E Riverside St Williamston, MI	3.0	2.0	1292	$1,975	$1.53	13d	1	0.63mi
2155 Mitchell Rd Williamston, MI	3.0	2.0	1492	$2,530	$1.70	13d	1	0.76mi

HOA detail

• Monthly dues: $398 · $4,776/yr
• Likely covers: watersewerlandscaping

Listing history 18 events

1. 2026-05-16
   status Pending 1477-char remark

   Show marketing remark (1477 chars)

   Welcome home to carefree living in the beautiful town of Williamston! With over 1,800 square feet of finished living space, this ranch-style condo is ready for a new owner. This 55+ retirement community offers the perfect balance of a quiet neighborhood while being within walking distance to everything downtown Williamston has to offer - shopping, restaurants, parks, and more. This 2 bedroom, 2 bathroom home features a finished basement with a bonus third room, and an attached garage! As you walk through the front door you will notice the open floorplan offering an easily accessible flow from the living room, dining area, and main-level living room. Enjoy the fresh coat of paint on the main floor! The three-season room off the living room is the perfect place to curl up with a book. The ma in level features two generously sized bedrooms with ample closet space and a full bathroom. Downstairs you will find a large living room and lower level third "bedroom" (no egress window) that has brand new carpeting! The basement also features a full bathroom. The laundry / utility room serves as excellent storage space. The HOA is responsible for the roof, siding, furnace/boiler, hot water heater, water and sewer bills, taxes, snow/lawn care and insurance. This is stress-free ownership located within a friendly community. Pets are allowed ~ see community rules for specific guidelines. Due to the nature of a cooperative community, this is a cash-only sale.

2. 2026-05-16
   status Pending 1477-char remark

   Show marketing remark (1477 chars)

   Welcome home to carefree living in the beautiful town of Williamston! With over 1,800 square feet of finished living space, this ranch-style condo is ready for a new owner. This 55+ retirement community offers the perfect balance of a quiet neighborhood while being within walking distance to everything downtown Williamston has to offer - shopping, restaurants, parks, and more. This 2 bedroom, 2 bathroom home features a finished basement with a bonus third room, and an attached garage! As you walk through the front door you will notice the open floorplan offering an easily accessible flow from the living room, dining area, and main-level living room. Enjoy the fresh coat of paint on the main floor! The three-season room off the living room is the perfect place to curl up with a book. The ma in level features two generously sized bedrooms with ample closet space and a full bathroom. Downstairs you will find a large living room and lower level third "bedroom" (no egress window) that has brand new carpeting! The basement also features a full bathroom. The laundry / utility room serves as excellent storage space. The HOA is responsible for the roof, siding, furnace/boiler, hot water heater, water and sewer bills, taxes, snow/lawn care and insurance. This is stress-free ownership located within a friendly community. Pets are allowed ~ see community rules for specific guidelines. Due to the nature of a cooperative community, this is a cash-only sale.

3. 2026-05-03
   price $175,000 1477-char remark

   Show marketing remark (1477 chars)

   Welcome home to carefree living in the beautiful town of Williamston! With over 1,800 square feet of finished living space, this ranch-style condo is ready for a new owner. This 55+ retirement community offers the perfect balance of a quiet neighborhood while being within walking distance to everything downtown Williamston has to offer - shopping, restaurants, parks, and more. This 2 bedroom, 2 bathroom home features a finished basement with a bonus third room, and an attached garage! As you walk through the front door you will notice the open floorplan offering an easily accessible flow from the living room, dining area, and main-level living room. Enjoy the fresh coat of paint on the main floor! The three-season room off the living room is the perfect place to curl up with a book. The ma in level features two generously sized bedrooms with ample closet space and a full bathroom. Downstairs you will find a large living room and lower level third "bedroom" (no egress window) that has brand new carpeting! The basement also features a full bathroom. The laundry / utility room serves as excellent storage space. The HOA is responsible for the roof, siding, furnace/boiler, hot water heater, water and sewer bills, taxes, snow/lawn care and insurance. This is stress-free ownership located within a friendly community. Pets are allowed ~ see community rules for specific guidelines. Due to the nature of a cooperative community, this is a cash-only sale.

4. 2026-05-03
   price $175,000 1477-char remark

   Show marketing remark (1477 chars)

   Welcome home to carefree living in the beautiful town of Williamston! With over 1,800 square feet of finished living space, this ranch-style condo is ready for a new owner. This 55+ retirement community offers the perfect balance of a quiet neighborhood while being within walking distance to everything downtown Williamston has to offer - shopping, restaurants, parks, and more. This 2 bedroom, 2 bathroom home features a finished basement with a bonus third room, and an attached garage! As you walk through the front door you will notice the open floorplan offering an easily accessible flow from the living room, dining area, and main-level living room. Enjoy the fresh coat of paint on the main floor! The three-season room off the living room is the perfect place to curl up with a book. The ma in level features two generously sized bedrooms with ample closet space and a full bathroom. Downstairs you will find a large living room and lower level third "bedroom" (no egress window) that has brand new carpeting! The basement also features a full bathroom. The laundry / utility room serves as excellent storage space. The HOA is responsible for the roof, siding, furnace/boiler, hot water heater, water and sewer bills, taxes, snow/lawn care and insurance. This is stress-free ownership located within a friendly community. Pets are allowed ~ see community rules for specific guidelines. Due to the nature of a cooperative community, this is a cash-only sale.

5. 2026-04-13
   listed $180,000 Active 1477-char remark

   Show marketing remark (1477 chars)

   Welcome home to carefree living in the beautiful town of Williamston! With over 1,800 square feet of finished living space, this ranch-style condo is ready for a new owner. This 55+ retirement community offers the perfect balance of a quiet neighborhood while being within walking distance to everything downtown Williamston has to offer - shopping, restaurants, parks, and more. This 2 bedroom, 2 bathroom home features a finished basement with a bonus third room, and an attached garage! As you walk through the front door you will notice the open floorplan offering an easily accessible flow from the living room, dining area, and main-level living room. Enjoy the fresh coat of paint on the main floor! The three-season room off the living room is the perfect place to curl up with a book. The main level features two generously sized bedrooms with ample closet space and a full bathroom. Downstairs you will find a large living room and lower level third "bedroom" (no egress window) that has brand new carpeting! The basement also features a full bathroom. The laundry / utility room serves as excellent storage space. The HOA is responsible for the roof, siding, furnace/boiler, hot water heater, water and sewer bills, taxes, snow/ lawn care and insurance. This is stress-free ownership located within a friendly community. Pets are allowed ~ see community rules for specific guidelines. Due to the nature of a cooperative community, this is a cash-only sale.

6. 2026-04-13
   listed $180,000 Active 1477-char remark

   Show marketing remark (1477 chars)

   Welcome home to carefree living in the beautiful town of Williamston! With over 1,800 square feet of finished living space, this ranch-style condo is ready for a new owner. This 55+ retirement community offers the perfect balance of a quiet neighborhood while being within walking distance to everything downtown Williamston has to offer - shopping, restaurants, parks, and more. This 2 bedroom, 2 bathroom home features a finished basement with a bonus third room, and an attached garage! As you walk through the front door you will notice the open floorplan offering an easily accessible flow from the living room, dining area, and main-level living room. Enjoy the fresh coat of paint on the main floor! The three-season room off the living room is the perfect place to curl up with a book. The main level features two generously sized bedrooms with ample closet space and a full bathroom. Downstairs you will find a large living room and lower level third "bedroom" (no egress window) that has brand new carpeting! The basement also features a full bathroom. The laundry / utility room serves as excellent storage space. The HOA is responsible for the roof, siding, furnace/boiler, hot water heater, water and sewer bills, taxes, snow/ lawn care and insurance. This is stress-free ownership located within a friendly community. Pets are allowed ~ see community rules for specific guidelines. Due to the nature of a cooperative community, this is a cash-only sale.

7. 2025-12-31
   historical
8. 2025-12-31
   historical
9. 2025-10-24
   price $180,000
10. 2025-10-24
    price $180,000
11. 2025-09-02
    listed $185,000 Active
12. 2025-09-02
    listed $185,000 Active
13. 2016-08-05
    soldstatus $74,000
14. 2016-08-05
    soldstatus $74,000
15. 2016-07-01
    listed $74,000
16. 2016-07-01
    listed $74,000
17. 2008-09-04
    soldstatus $73,000
18. 2008-04-03
    listed $78,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $26,960
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,157
• − Management: −$2,157
• − HOA: −$4,776
• − Depreciation: −$5,091
• Taxable loss: −$523
• Est. tax savings @ 24.0%: +$125
• After-tax cash flow: $2,136/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: Williamston Community Schools
• NCES district ID: 2636420
• Math proficiency: 49% ▼ -15.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $79,113
• Composite: 50.08/100
• National rank: #1909
• State rank: #55 of 540 in MI

Livability — Williamston

• Score: 86/100
• State rank: #19
• US rank: #359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Williamston, MI
• City population: 11,294
• Population (ZIP): 11,294

Population outlook (Ingham County) Hauer SSP2

• Today (2025): 300,362 people
• By 2030: 307,808 · +2.5%
• By 2040: 320,492 · +6.7%
• By 2050: 333,223 · +10.9%
• By 2075: 373,693 · +24.4%
• By 2100: 392,021 · +30.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Italian 7% Romanian 6% Lithuanian 5%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Ingham

• 2024 margin: Strong D (+29.7) · D 63.9% · R 34.2% · Other 2.0%
• 2008→2024 swing: -3.6pp toward R · 2008: 33.3pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+32.2 2016: D+27.6 2012: D+27.9 2008: D+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -175.37%
• Current HPI: 202.0808
• 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

+122.9% since first listed

18 events — show timeline

• 2026-05-16 Pending — REALCOMP
• 2026-05-16 Pending — Greater Lansing AoR
• 2026-05-03 Price Changed $175,000 REALCOMP
• 2026-05-03 Price Changed $175,000 Greater Lansing AoR
• 2026-04-13 Listed $180,000 Greater Lansing AoR
• 2026-04-13 Listed $180,000 REALCOMP
• 2025-12-31 Listing Removed — REALCOMP
• 2025-12-31 Listing Removed — Greater Lansing AoR
• 2025-10-24 Price Changed $180,000 REALCOMP
• 2025-10-24 Price Changed $180,000 Greater Lansing AoR
• 2025-09-02 Listed $185,000 REALCOMP
• 2025-09-02 Listed $185,000 Greater Lansing AoR
• 2016-08-05 Sold (MLS) $74,000 Greater Lansing AoR
• 2016-08-05 Sold (MLS) $74,000 REALCOMP
• 2016-07-01 Listed $74,000 Greater Lansing AoR
• 2016-07-01 Listed $74,000 REALCOMP
• 2008-09-04 Sold (MLS) $73,000 Greater Lansing AoR
• 2008-04-03 Listed $78,500 Greater Lansing AoR