9103 N Union Lot 5 St · Tecumseh, MI 49286

$59,995

2 bd · 1.0 ba · 832 sqft · SingleFamily · 44 Days on market

Built 2022 ↓ 18% since listing

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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 +3.9/5.0
• 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

Discover easy living in Newburg Meadows. This cozy 2-bedroom, 2-bath home offers a carport, welcoming porch, and a peaceful setting ideal for those seeking comfort and simplicity. Trash, water & sewer included in lot rent. Whole house gas generator. Shed for additional storage.

Key facts

• Built 2022
• Listed 44 days

Property features AI

Finance

• Other: Located in NEWBURG MEADOWS subdivision; Cross streets: Zechara Dr / Tonneberger Dr
• HOA & community: Homeowners association with monthly fee

Exterior

• Utilities: Public water; Public sewer
• Home design: Manufactured home; One level; Residential property
• Construction: Vinyl siding; Pillar/post/pier foundation
• Exterior features: Deck

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Gas water heater; 4 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $416 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 14.6% 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.
• Market conditions: 95 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $415 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 25y ago; this cycle's ask has dropped $39k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $58,195 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.75% ✓
• Cap rate: 14.62%
• Cash-on-cash: 29.75%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $193,856
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9103 N Union Street, Lot #41 St	0.00mi	2/1.0	900 (+8%)	21mo	$76,000	$84	69
409 Brown St	0.48mi	3/1.0 (+1)	900 (+8%)	19mo	$209,900	$233	43

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: 24.3%
• Equity multiple: 2.00×
• Total profit: $16,821
• Equity at exit: $8,945

10-year hold

• IRR: 32.1%
• Equity multiple: 3.91×
• Total profit: $48,870
• Equity at exit: $5,187

Cash invested: $16,799 (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: 95
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,052 high
• Mortgage (P&I): −$315
• Tax est. 1.5%: −$75 /mo · $900/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $416

Break-even live

Break-even rent $525

Max offer price $59,995

Occupancy floor 55%

Sensitivity live

Price	-10% $458	-5% $437	+0% $416	+5% $396	+10% $375
Rent	-10% $333	-5% $375	+0% $416	+5% $458	+10% $500
Rate	-1.0pp $447	-0.5pp $432	base $416	+0.5pp $401	+1.0pp $385

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: $14,999
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
200 N Occidental Rd Tecumseh, MI	1.0	1.0	600	$900	$1.50	14d	1	0.99mi
1325 Southwestern Dr Tecumseh, MI	2.0	1.5	950	$1,130	$1.19	14d	1	1.25mi
1316 Southwestern Dr Tecumseh, MI	2.0	1.5	950	$1,130	$1.19	14d	1	1.31mi
518 E Chicago Blvd Unit 3 Tecumseh, MI	2.0	1.0	800	$850	$1.06	22d	1	1.48mi
216 Kilbuck St E Tecumseh, MI	2.0	1.5	1000	$1,295	$1.29	14d	1	1.49mi

Listing history 45 events

1. 2026-06-18
   days on market $59,995 Active 44 DOM
2. 2026-06-17
   days on market $59,995 Active 43 DOM
3. 2026-06-16
   days on market $59,995 Active 42 DOM
4. 2026-06-15
   days on market $59,995 Active 41 DOM
5. 2026-06-14
   days on market $59,995 Active 39 DOM
6. 2026-06-13
   days on market $59,995 Active 38 DOM
7. 2026-06-10
   days on market $59,995 Active 36 DOM
8. 2026-06-09
   days on market $59,995 Active 35 DOM
9. 2026-06-08
   days on market $59,995 Active 34 DOM
10. 2026-06-07
    days on market $59,995 Active 33 DOM

    Show marketing remark (284 chars)

    Discover easy living in Newburg Meadows. This cozy 2-bedroom, 2-bath home offers a carport, welcoming porch, and a peaceful setting ideal for those seeking comfort and simplicity. Trash, water & sewer included in lot rent. Whole house gas generator. Shed for additional storage.

11. 2026-06-05
    days on market $59,995 Active 30 DOM
12. 2026-06-03
    days on market $59,995 Active 29 DOM
13. 2026-06-02
    days on market $59,995 Active 28 DOM
14. 2026-06-01
    days on market $59,995 Active 27 DOM
15. 2026-05-31
    days on market $59,995 Active 26 DOM
16. 2026-05-30
    days on market $59,995 Active 25 DOM
17. 2026-05-04
    listed $69,995 Active 530-char remark
18. 2026-05-04
    listed $69,995 Active 530-char remark
19. 2025-11-26
    listed $64,900 Active

    Show marketing remark (284 chars)

    Discover easy living in Newburg Meadows. This cozy 2-bedroom, 2-bath home offers a carport, welcoming porch, and a peaceful setting ideal for those seeking comfort and simplicity. Trash, water & sewer included in lot rent. Whole house gas generator. Shed for additional storage.

20. 2025-11-26
    listed $64,900 Active

    Show marketing remark (284 chars)

    Discover easy living in Newburg Meadows. This cozy 2-bedroom, 2-bath home offers a carport, welcoming porch, and a peaceful setting ideal for those seeking comfort and simplicity. Trash, water & sewer included in lot rent. Whole house gas generator. Shed for additional storage.

21. 2025-03-18
    status Pending
22. 2025-03-18
    status Pending
23. 2025-03-17
    soldstatus $80,000 Closed
24. 2025-03-17
    soldstatus $80,000 Closed
25. 2025-03-17
    soldstatus $80,000
26. 2024-12-28
    price $84,500
27. 2024-12-27
    price $84,500
28. 2024-11-01
    historical $1,623
29. 2024-10-31
    listed $89,500 Active
30. 2024-10-31
    listed $89,500 Active
31. 2024-10-31
    listed $84,500
32. 2024-10-02
    listed $1,623
33. 2024-09-27
    historical $1,623
34. 2024-08-27
    listed $1,623
35. 2024-08-19
    historical $1,623
36. 2024-07-09
    historical $1,623
37. 2024-06-25
    price $1,623
38. 2024-06-25
    price $1,689
39. 2024-05-20
    listed $1,715
40. 2024-04-09
    listed $1,575
41. 2022-11-10
    historical
42. 2001-11-12
    historical
43. 2001-11-12
    historical
44. 2001-05-12
    listed $60,000
45. 2001-05-12
    listed $60,000

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

Taxation est. · year 1

• Rental income: $12,624
• − Mortgage interest: −$3,361
• − Property taxes: −$900
• − Insurance: −$300
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − Depreciation: −$1,745
• Taxable income: $4,299
• Est. tax owed @ 24.0%: −$1,032
• After-tax cash flow: $3,966/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

-18.3% since first listed

38 events — show timeline

• 2026-06-07 Price Changed $49,000 MiRealSource-MiMLS
• 2026-06-07 Price Changed $49,000 REALCOMP
• 2026-05-26 Listed $99,000 FSBO.com
• 2026-05-23 Price Changed $64,900 MiRealSource-MiMLS
• 2026-05-23 Price Changed $59,995 MiRealSource-MiMLS
• 2026-05-22 Price Changed $59,995 REALCOMP
• 2026-05-22 Price Changed $64,900 REALCOMP
• 2026-05-21 Price Changed $59,900 MiRealSource-MiMLS
• 2026-05-20 Price Changed $59,900 REALCOMP
• 2026-05-04 Listed $69,995 REALCOMP
• 2026-05-04 Listed $69,995 MiRealSource-MiMLS
• 2025-11-26 Listed $64,900 REALCOMP
• 2025-11-26 Listed $64,900 MiRealSource-MiMLS
• 2025-03-18 Pending — MiRealSource-MiMLS
• 2025-03-18 Pending — REALCOMP
• 2025-03-17 Sold (MLS) $80,000 MiRealSource-MiMLS
• 2025-03-17 Sold (MLS) $80,000 REALCOMP
• 2025-03-17 Sold (MLS) $80,000 MiRealSource-MiMLS
• 2024-12-28 Price Changed $84,500 MiRealSource-MiMLS
• 2024-12-27 Price Changed $84,500 REALCOMP
• 2024-11-01 Rental Removed $1,623 RENT.
• 2024-10-31 Listed $84,500 MiRealSource-MiMLS
• 2024-10-31 Listed $89,500 REALCOMP
• 2024-10-31 Listed $89,500 MiRealSource-MiMLS
• 2024-10-02 Listed for Rent $1,623 RENT.
• 2024-09-27 Rental Removed $1,623 RENT.
• 2024-08-27 Listed for Rent $1,623 RENT.
• 2024-08-19 Rental Removed $1,623 RENT.
• 2024-07-09 Rental Removed $1,623 RENT.
• 2024-06-25 Price Changed $1,623 RENT.
• 2024-06-25 Price Changed $1,689 RENT.
• 2024-05-20 Listed for Rent $1,715 RENT.
• 2024-04-09 Listed for Rent $1,575 RENT.
• 2022-11-10 Rental Removed — RENT.
• 2001-11-12 Listing Removed — MiRealSource-MiMLS
• 2001-11-12 Listing Removed — REALCOMP
• 2001-05-12 Listed $60,000 MiRealSource-MiMLS
• 2001-05-12 Listed $60,000 REALCOMP