704 Isham St · Owosso, MI 48867

$129,900

3 bd · 1.0 ba · 1,220 sqft · SingleFamily public records · 175 Days on market

Built 1960 8,276 sqft lot $106/sqft · 16% below area Est $154k · 16% under

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Why this score? — see what drove the D 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).

• ARV discount +14.5/15.0
• Cash flow +9.6/30.0
• Livability +3.8/5.0
• 1% rule +2.7/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

First time home buyer? Investor? Come and put your personal touch on this three-bedroom ranch with open floor plan on a low traffic street with large 2+ car garage! Walk in shower, Central air. Immediate Occupancy. Home has a Four seasons room and a fenced yard. The property includes a driveway off from Isham Street and a Driveway off Gregory Street. Lots of possibilities with this home, Great Investment opportunity.

Key facts

• Open floor plan
• Fenced yard
• Four seasons room

Tags

• OPEN FLOOR PLAN
• WALK IN SHOWER
• FOUR SEASONS ROOM
• FENCED YARD
• DRIVEWAY OFF ISHAM STREET
• DRIVEWAY OFF GREGORY STREET

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (12.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (23.0% below list).
• Recommended offer: $100k (23.0% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.2% in Owosso — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#147 in MI, #3,704 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D-, commute F.
• Owosso Public Schools (town): math 21% / reading 33% proficiency, ranked #401 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 74 units permitted in Shiawassee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shiawassee County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 175 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask is 4% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $110k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $100,000 (23.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 175 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is D 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.77% ✗
• Cap rate: 5.48%
• Cash-on-cash: -2.91%
• DSCR: 0.87
• GRM: 10.8

CMA / ARV

• ARV (median comp): $153,981
• List price: $129,900
• Delta: -15.64%
• 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
526 S Chipman St	0.31mi	3/1.0	1,184 (-3%)	1mo	$200,000	$169	80
1507 Lynn St	0.30mi	4/2.0 (+1)	1,210 (-1%)	1mo	$55,000	$45	75
323 S Chipman St	0.42mi	3/1.0	1,170 (-4%)	1mo	$130,000	$111	73
1603 Lynn St	0.30mi	3/1.0	1,300 (+7%)	5mo	$47,000	$36	71
1310 Frederick St	0.33mi	3/1.5	1,125 (-8%)	1mo	$191,000	$170	68
1432 Young St	0.38mi	3/1.0	1,129 (-8%)	2mo	$165,000	$146	68
1428 Lynn St	0.32mi	3/1.0	1,060 (-13%)	2mo	$185,000	$175	62
825 Ament St	0.50mi	2/1.0 (-1)	1,157 (-5%)	2mo	$145,000	$125	62
533 Grace St	0.74mi	3/1.0	1,272 (+4%)	1mo	$82,400	$65	57
817 S Chipman St	0.33mi	2/2.0 (-1)	1,098 (-10%)	2mo	$204,000	$186	57
911 Beehler St	0.74mi	3/1.0	1,100 (-10%)	6mo	$35,000	$32	44
523 Fletcher St	0.72mi	3/1.5	1,080 (-12%)	4mo	$182,000	$169	42

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: -21.1%
• Equity multiple: 0.27×
• Total profit: $-26,660
• Equity at exit: $19,369

10-year hold

• IRR: -14.6%
• Equity multiple: 0.16×
• Total profit: $-30,431
• Equity at exit: $11,231

Cash invested: $36,372 (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 48867

• Active inventory: 166
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$143 /mo · $1,714/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $-88

Break-even live

Break-even rent $1,112

Max offer price $114,330

Occupancy floor —

Sensitivity live

Price	-10% $-15	-5% $-51	+0% $-88	+5% $-125	+10% $-162
Rent	-10% $-167	-5% $-128	+0% $-88	+5% $-49	+10% $-9
Rate	-1.0pp $-23	-0.5pp $-55	base $-88	+0.5pp $-122	+1.0pp $-156

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 Candlewick Dr Owosso, MI	3.0	2.0	1056	$1,000	$0.95	14d	1	0.83mi

Listing history 22 events

1. 2026-06-04
   statusdays on market $129,900 Pending 175 DOM
2. 2026-06-02
   days on market $129,900 Active Under Contract 174 DOM
3. 2026-06-01
   days on market $129,900 Active Under Contract 173 DOM
4. 2026-05-31
   days on market $129,900 Active Under Contract 172 DOM
5. 2026-05-31
   days on market $129,900 Active Under Contract 171 DOM
6. 2026-03-14
   price $129,900 420-char remark

   Show marketing remark (420 chars)

   First time home buyer? Investor? Come and put your personal touch on this three-bedroom ranch with open floor plan on a low traffic street with large 2+ car garage! Walk in shower, Central air. Immediate Occupancy. Home has a Four seasons room and a fenced yard. The property includes a driveway off from Isham Street and a Driveway off Gregory Street. Lots of possibilities with this home, Great Investment opportunity.

7. 2026-03-13
   price $129,900 420-char remark

   Show marketing remark (420 chars)

   First time home buyer? Investor? Come and put your personal touch on this three-bedroom ranch with open floor plan on a low traffic street with large 2+ car garage! Walk in shower, Central air. Immediate Occupancy. Home has a Four seasons room and a fenced yard. The property includes a driveway off from Isham Street and a Driveway off Gregory Street. Lots of possibilities with this home, Great Investment opportunity.

8. 2025-12-10
   listed $125,000 Active 420-char remark

   Show marketing remark (420 chars)

   First time home buyer? Investor? Come and put your personal touch on this three-bedroom ranch with open floor plan on a low traffic street with large 2+ car garage! Walk in shower, Central air. Immediate Occupancy. Home has a Four seasons room and a fenced yard. The property includes a driveway off from Isham Street and a Driveway off Gregory Street. Lots of possibilities with this home, Great Investment opportunity.

9. 2025-12-07
   listed $125,000 Active 420-char remark

   Show marketing remark (420 chars)

   First time home buyer? Investor? Come and put your personal touch on this three-bedroom ranch with open floor plan on a low traffic street with large 2+ car garage! Walk in shower, Central air. Immediate Occupancy. Home has a Four seasons room and a fenced yard. The property includes a driveway off from Isham Street and a Driveway off Gregory Street. Lots of possibilities with this home, Great Investment opportunity.

10. 2023-07-14
    soldstatus $110,000
11. 2023-07-12
    soldstatus $110,000 Sold
12. 2023-07-12
    soldstatus $110,000 Closed
13. 2023-06-02
    status Pending
14. 2023-06-02
    status Pending
15. 2023-05-30
    listed $110,000 Active
16. 2023-05-30
    listed $110,000 Active
17. 2023-05-26
    historical $110,000
18. 2023-05-25
    historical $110,000
19. 2011-11-28
    soldstatus $40,000
20. 2011-11-28
    soldstatus $40,000
21. 2011-10-11
    listed $42,500
22. 2011-10-11
    listed $42,500

ⓘ 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: $1,714 · $143/mo
• Projected year-2 tax: $1,857 · $155/mo
• Expected delta: +$143/yr (+$12/mo · 8.4%)

ⓘ 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 ≥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: $12,000
• − Mortgage interest: −$7,276
• − Property taxes: −$1,714
• − Insurance: −$650
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$3,779
• Taxable loss: −$3,338
• Est. tax savings @ 24.0%: +$801
• After-tax cash flow: $-256/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: Owosso Public Schools
• NCES district ID: 2627210
• Math proficiency: 21% ▼ -6.00%
• Reading proficiency: 33% ▲ 1.00%
• Median HH income: $40,656
• Composite: 22.78/100
• National rank: #8025
• State rank: #401 of 540 in MI

Livability — Owosso

• Score: 76/100
• State rank: #147
• US rank: #3704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Owosso, MI
• City population: 27,399
• Population (ZIP): 27,399

Population outlook (Shiawassee County) Hauer SSP2

• Today (2025): 64,238 people
• By 2030: 61,434 · -4.4%
• By 2040: 55,054 · -14.3%
• By 2050: 48,426 · -24.6%
• By 2075: 35,995 · -44.0%
• By 2100: 26,678 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · Shiawassee

• 2024 margin: Strong R (+23.1) · D 37.7% · R 60.8% · Other 1.6%
• 2008→2024 swing: -31.7pp toward R · 2008: 8.6pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.9 2016: R+19.6 2012: D+3.7 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -234.79%
• Current HPI: 190.5775
• 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

+205.6% since first listed

17 events — show timeline

• 2026-03-14 Price Changed $129,900 MiRealSource-MiMLS
• 2026-03-13 Price Changed $129,900 REALCOMP
• 2025-12-10 Listed $125,000 REALCOMP
• 2025-12-07 Listed $125,000 MiRealSource-MiMLS
• 2023-07-14 Sold (Public Records) $110,000 Public Records
• 2023-07-12 Sold (MLS) $110,000 MiRealSource-MiMLS
• 2023-07-12 Sold (MLS) $110,000 REALCOMP
• 2023-06-02 Pending — REALCOMP
• 2023-06-02 Pending — MiRealSource-MiMLS
• 2023-05-30 Listed $110,000 REALCOMP
• 2023-05-30 Listed $110,000 MiRealSource-MiMLS
• 2023-05-26 Coming Soon $110,000 REALCOMP
• 2023-05-25 Coming Soon $110,000 MiRealSource-MiMLS
• 2011-11-28 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2011-11-28 Sold (MLS) $40,000 REALCOMP
• 2011-10-11 Listed $42,500 MiRealSource-MiMLS
• 2011-10-11 Listed $42,500 REALCOMP

Property tax history

+1.0%/yr

Latest (2025): $1,714 · -30.8% YoY. Source: county tax records.