497 OTT Rd · Auburn, MI 48706

$89,900

4 bd · 3.0 ba · 2,006 sqft · SingleFamily public records · 23 Days on market

Built 1890 1.00 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity in desirable Monitor Township! This fully vacant 3-unit multi-family property sits on approximately one acre in the county and offers tremendous potential for an investor or renovator looking to add value and generate future rental income. Unit 1 features a one bedroom, one bath layout with a kitchen/living room combination and separate private entrance. Unit 2 offers one bedroom, one bath, an eat-in kitchen, and living room. The upper Unit 3 includes 2 bedrooms, a full bath, eat-in kitchen, and spacious living room. Property is fully electric with separate electric service for each unit. City water is shared and not separately metered. Two large septic tank

Key facts

• Private entrance
• Eat-in kitchen
• Spacious living room

Tags

• INVESTMENT OPPORTUNITY
• MULTI-FAMILY PROPERTY
• PRIVATE ENTRANCE
• EAT-IN KITCHEN
• SPACIOUS LIVING ROOM
• SEPARATE ELECTRIC SERVICE

Property features AI

Finance

• Other: Zoning: Multi-Family; Lot acreage: 1
• Financial info: Total expenses reported: $8,069; Net operating income reported: $0; 3 total units
• HOA & community: Association fee includes water; Association/landlord pays lawn maintenance, snow removal, trash removal, and water/sewer

Exterior

• Parking: 3 or more parking spaces
• Utilities: Electricity connected; Public water; Septic system; Electric fuel type
• Home design: Multi-family property; Farmhouse style; 2-story; Built in 1890; Street designation: Road
• Construction: Aluminum, vinyl siding and wood exterior; Basement foundation
• Exterior features: Porch; Shed; Rural corner lot on a paved country road

Interior

• Kitchen: Microwave; Range/Oven; Refrigerator; Unit 2 kitchen sized 12 x 11; Unit 3 kitchen sized 15 x 11; Unit 1 kitchen located on the main level
• Bedrooms: Unit 1: bedroom(s) on the main level; Unit 2: bedroom on the main level (13 x 11); Unit 3: bedrooms on the upper level
• Bathrooms: 3 full bathrooms (total 3)
• Heating & cooling: Electric heating; Separate heat for units
• Interior features: Basement present with outside entrance
• Laundry & utility: Separate electric and separate gas service; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $546 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#210 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Bay City School District (urban): math 27% / reading 40% proficiency, ranked #317 of 540 in MI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 246 active listings in the ZIP; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bay County population projected at -21% 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1890 — 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 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?
4. 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.
5. 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.
6. 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: 1.67% ✓
• Cap rate: 13.58%
• Cash-on-cash: 26.02%
• DSCR: 2.16
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.7%
• Equity multiple: 1.80×
• Total profit: $20,225
• Equity at exit: $13,404

10-year hold

• IRR: 28.0%
• Equity multiple: 3.48×
• Total profit: $62,508
• Equity at exit: $7,773

Cash invested: $25,172 (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 48706

• Active inventory: 246
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,502 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$132 /mo · $1,581/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $546

Break-even live

Break-even rent $811

Max offer price $89,900

Occupancy floor 59%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-19
   days on market $89,900 Active 23 DOM
2. 2026-06-18
   days on market $89,900 Active 22 DOM
3. 2026-06-17
   days on market $89,900 Active 21 DOM
4. 2026-06-16
   days on market $89,900 Active 20 DOM
5. 2026-06-15
   days on market $89,900 Active 19 DOM
6. 2026-06-14
   days on market $89,900 Active 17 DOM
7. 2026-06-13
   status $89,900 Active 16 DOM
8. 2026-06-12
   days on market $89,900 Keep Showing-Contgcy Appl 16 DOM
9. 2026-06-09
   days on market $89,900 Keep Showing-Contgcy Appl 13 DOM
10. 2026-06-08
    days on market $89,900 Keep Showing-Contgcy Appl 12 DOM
11. 2026-06-07
    days on market $89,900 Keep Showing-Contgcy Appl 11 DOM
12. 2026-06-05
    days on market $89,900 Keep Showing-Contgcy Appl 8 DOM
13. 2026-06-03
    days on market $89,900 Keep Showing-Contgcy Appl 7 DOM
14. 2026-06-03
    status $89,900 Keep Showing-Contgcy Appl 6 DOM
15. 2026-06-02
    days on market $89,900 Active 6 DOM
16. 2026-06-01
    days on market $89,900 Active 5 DOM
17. 2026-05-31
    days on market $89,900 Active 4 DOM
18. 2026-05-30
    days on market $89,900 Active 3 DOM
19. 2026-05-27
    listed $89,900 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: $1,581 · $132/mo
• Projected year-2 tax: $1,581 · $132/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 ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,021
• − Mortgage interest: −$5,036
• − Property taxes: −$1,581
• − Insurance: −$450
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − Depreciation: −$2,615
• Taxable income: $5,456
• Est. tax owed @ 24.0%: −$1,309
• After-tax cash flow: $5,239/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: Bay City School District
• NCES district ID: 2604260
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $43,833
• Composite: 28.47/100
• National rank: #6743
• State rank: #317 of 540 in MI

Livability — Auburn

• Score: 73/100
• State rank: #210
• US rank: #5234

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 25,635
• Population (ZIP): 38,756

Population outlook (Bay County) Hauer SSP2

• Today (2025): 101,476 people
• By 2030: 98,152 · -3.3%
• By 2040: 89,711 · -11.6%
• By 2050: 80,614 · -20.6%
• By 2075: 60,544 · -40.3%
• By 2100: 41,603 · -59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4%
• Common ancestry: Romanian 16% Lithuanian 9% Slovak 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Bay

• 2024 margin: R (+14.7) · D 42.0% · R 56.7% · Other 1.3%
• 2008→2024 swing: -30.0pp toward R · 2008: 15.3pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+11.6 2016: R+12.6 2012: D+6.0 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.29%
• Current HPI: 203.6444
• 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

1 event — show timeline

• 2026-05-27 Listed $89,900 MiRealSource-MiMLS

Property tax history

-3.2%/yr

Latest (2025): $1,581 · -40.4% YoY. Source: county tax records.