2201 Village West Dr S · Lapeer, MI 48446

$149,900

3 bd · 2.5 ba · 2,528 sqft · Other · 6 Days on market

Built 1974 $59/sqft · 37% below area Est $240k · 37% under $270/mo HOA · 17% of rent

---

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).

• ARV discount +15.0/15.0
• Cash flow +14.3/30.0
• 1% rule +5.7/10.0
• DSCR +4.4/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Lapeer! This beautifully maintained 3 bedroom, 2.5 bath condo has everything you're looking for. The main floor of the home features a huge living room with a fireplace and slider door access to the back patio, a charming kitchen and attached dining area, and a half bath. The kitchen is modern, with plenty of storage and counter space. Upstairs, the large primary suite has an attached full bath as well as a dressing room/walk in closet. Two additional bedrooms provide plenty of space for guests or a growing family. A second full bath completes the second floor. Crown moldings complete multiple rooms. The full basement has a family room or rec room, bonus room, and a dedicated laundry room. Living room slider to be replaced within 8-10 weeks at no cost, recent roof repairs completed. Never worry about mowing the grass or shoveling snow again! Don't miss out, schedule your showing today!

Key facts

• Attached dining area
• Full basement
• Modern kitchen

Tags

• LIVING ROOM WITH FIREPLACE
• MODERN KITCHEN
• ATTACHED DINING AREA
• DRESSING ROOM WALK IN CLOSET
• FULL BASEMENT
• DEDICATED LAUNDRY ROOM

Property features AI

Finance

• HOA & community: Homeowners association with a $270 monthly fee; HOA covers grounds and structure maintenance, sewer, snow removal, trash, and water; Community clubhouse

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); Two levels; Ground-level entry
• Construction: Aluminum siding and brick siding
• Exterior features: Patio; Paved road access; Pets allowed

Interior

• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Fireplace in the living room; Finished full basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $150k.

Deal economics

• At list price, monthly cash flow is $28 ($331/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 6.5% vs local median 3.6% in Lapeer — 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 72/100 on livability (#231 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D+, employment D, commute F.
• Lapeer Community Schools (town): math 31% / reading 49% proficiency, ranked #202 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 186 active listings in the ZIP; 152 units permitted in Lapeer 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 $4k of value loss. Plan a longer hold.
• Lapeer County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 22y 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 $149,900

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.07% ✓
• Cap rate: 6.51%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 7.8

CMA / ARV

• ARV (median comp): $239,661
• List price: $149,900
• Delta: -37.45%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -14.9%
• Equity multiple: 0.47×
• Total profit: $-22,384
• Equity at exit: $22,351

10-year hold

• IRR: -6.1%
• Equity multiple: 0.60×
• Total profit: $-16,617
• Equity at exit: $12,961

Cash invested: $41,972 (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 48446

• Active inventory: 186
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,608 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$124 /mo · $1,493/yr
• Insurance: −$62
• HOA: −$270
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $28

Break-even live

Break-even rent $1,573

Max offer price $149,900

Occupancy floor 93%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $270 · $3,240/yr
• Likely covers: roof

Listing history 24 events

1. 2026-05-07
   status Pending 909-char remark

   Show marketing remark (909 chars)

   Welcome to Lapeer! This beautifully maintained 3 bedroom, 2.5 bath condo has everything you're looking for. The main floor of the home features a huge living room with a fireplace and slider door access to the back patio, a charming kitchen and attached dining area, and a half bath. The kitchen is modern, with plenty of storage and counter space. Upstairs, the large primary suite has an attached full bath as well as a dressing room/walk in closet. Two additional bedrooms provide plenty of space for guests or a growing family. A second full bath completes the second floor. Crown moldings complete multiple rooms. The full basement has a family room or rec room, bonus room, and a dedicated laundry room. Living room slider to be replaced within 8-10 weeks at no cost, recent roof repairs completed. Never worry about mowing the grass or shoveling snow again! Don't miss out, schedule your showing today!

2. 2026-05-07
   status Pending 910-char remark

   Show marketing remark (909 chars)

   Welcome to Lapeer! This beautifully maintained 3 bedroom, 2.5 bath condo has everything you're looking for. The main floor of the home features a huge living room with a fireplace and slider door access to the back patio, a charming kitchen and attached dining area, and a half bath. The kitchen is modern, with plenty of storage and counter space. Upstairs, the large primary suite has an attached full bath as well as a dressing room/walk in closet. Two additional bedrooms provide plenty of space for guests or a growing family. A second full bath completes the second floor. Crown moldings complete multiple rooms. The full basement has a family room or rec room, bonus room, and a dedicated laundry room. Living room slider to be replaced within 8-10 weeks at no cost, recent roof repairs completed. Never worry about mowing the grass or shoveling snow again! Don't miss out, schedule your showing today!

3. 2026-05-05
   historical Accepting Backup Offers 909-char remark

   Show marketing remark (909 chars)

   Welcome to Lapeer! This beautifully maintained 3 bedroom, 2.5 bath condo has everything you're looking for. The main floor of the home features a huge living room with a fireplace and slider door access to the back patio, a charming kitchen and attached dining area, and a half bath. The kitchen is modern, with plenty of storage and counter space. Upstairs, the large primary suite has an attached full bath as well as a dressing room/walk in closet. Two additional bedrooms provide plenty of space for guests or a growing family. A second full bath completes the second floor. Crown moldings complete multiple rooms. The full basement has a family room or rec room, bonus room, and a dedicated laundry room. Living room slider to be replaced within 8-10 weeks at no cost, recent roof repairs completed. Never worry about mowing the grass or shoveling snow again! Don't miss out, schedule your showing today!

4. 2026-05-05
   historical Active Under Contract 910-char remark

   Show marketing remark (909 chars)

   Welcome to Lapeer! This beautifully maintained 3 bedroom, 2.5 bath condo has everything you're looking for. The main floor of the home features a huge living room with a fireplace and slider door access to the back patio, a charming kitchen and attached dining area, and a half bath. The kitchen is modern, with plenty of storage and counter space. Upstairs, the large primary suite has an attached full bath as well as a dressing room/walk in closet. Two additional bedrooms provide plenty of space for guests or a growing family. A second full bath completes the second floor. Crown moldings complete multiple rooms. The full basement has a family room or rec room, bonus room, and a dedicated laundry room. Living room slider to be replaced within 8-10 weeks at no cost, recent roof repairs completed. Never worry about mowing the grass or shoveling snow again! Don't miss out, schedule your showing today!

5. 2026-05-01
   listed $149,900 Active 909-char remark

   Show marketing remark (909 chars)

   Welcome to Lapeer! This beautifully maintained 3 bedroom, 2.5 bath condo has everything you're looking for. The main floor of the home features a huge living room with a fireplace and slider door access to the back patio, a charming kitchen and attached dining area, and a half bath. The kitchen is modern, with plenty of storage and counter space. Upstairs, the large primary suite has an attached full bath as well as a dressing room/walk in closet. Two additional bedrooms provide plenty of space for guests or a growing family. A second full bath completes the second floor. Crown moldings complete multiple rooms. The full basement has a family room or rec room, bonus room, and a dedicated laundry room. Living room slider to be replaced within 8-10 weeks at no cost, recent roof repairs completed. Never worry about mowing the grass or shoveling snow again! Don't miss out, schedule your showing today!

6. 2026-05-01
   listed $149,900 Active 910-char remark

   Show marketing remark (909 chars)

   Welcome to Lapeer! This beautifully maintained 3 bedroom, 2.5 bath condo has everything you're looking for. The main floor of the home features a huge living room with a fireplace and slider door access to the back patio, a charming kitchen and attached dining area, and a half bath. The kitchen is modern, with plenty of storage and counter space. Upstairs, the large primary suite has an attached full bath as well as a dressing room/walk in closet. Two additional bedrooms provide plenty of space for guests or a growing family. A second full bath completes the second floor. Crown moldings complete multiple rooms. The full basement has a family room or rec room, bonus room, and a dedicated laundry room. Living room slider to be replaced within 8-10 weeks at no cost, recent roof repairs completed. Never worry about mowing the grass or shoveling snow again! Don't miss out, schedule your showing today!

7. 2019-05-30
   soldstatus $73,000
8. 2019-05-24
   soldstatus $73,000 Sold

   Show marketing remark (469 chars)

   Great 3 bedroom 2.5 bath condo. Updated kitchen, maple cabinets, stainless steel appliances. Fireplace in the living room and partially finished basement. Association feeds include trash, lawn, snow and exterior maintenance. Water is paid monthly to assoc. approx. $135 for 3 people. All units must be owner occupied. Pet restriction of 1 dog (30 lbs. under as adult) and 1 indoor cat, or 2 indoor cats. Association must interview all potential buyers prior to closing.

9. 2019-05-24
   soldstatus $73,000 Closed

   Show marketing remark (469 chars)

   Great 3 bedroom 2.5 bath condo. Updated kitchen, maple cabinets, stainless steel appliances. Fireplace in the living room and partially finished basement. Association feeds include trash, lawn, snow and exterior maintenance. Water is paid monthly to assoc. approx. $135 for 3 people. All units must be owner occupied. Pet restriction of 1 dog (30 lbs. under as adult) and 1 indoor cat, or 2 indoor cats. Association must interview all potential buyers prior to closing.

10. 2019-04-19
    status Pending

    Show marketing remark (469 chars)

    Great 3 bedroom 2.5 bath condo. Updated kitchen, maple cabinets, stainless steel appliances. Fireplace in the living room and partially finished basement. Association feeds include trash, lawn, snow and exterior maintenance. Water is paid monthly to assoc. approx. $135 for 3 people. All units must be owner occupied. Pet restriction of 1 dog (30 lbs. under as adult) and 1 indoor cat, or 2 indoor cats. Association must interview all potential buyers prior to closing.

11. 2019-04-19
    status Pending

    Show marketing remark (469 chars)

    Great 3 bedroom 2.5 bath condo. Updated kitchen, maple cabinets, stainless steel appliances. Fireplace in the living room and partially finished basement. Association feeds include trash, lawn, snow and exterior maintenance. Water is paid monthly to assoc. approx. $135 for 3 people. All units must be owner occupied. Pet restriction of 1 dog (30 lbs. under as adult) and 1 indoor cat, or 2 indoor cats. Association must interview all potential buyers prior to closing.

12. 2019-04-15
    listed $74,900 Active

    Show marketing remark (469 chars)

    Great 3 bedroom 2.5 bath condo. Updated kitchen, maple cabinets, stainless steel appliances. Fireplace in the living room and partially finished basement. Association feeds include trash, lawn, snow and exterior maintenance. Water is paid monthly to assoc. approx. $135 for 3 people. All units must be owner occupied. Pet restriction of 1 dog (30 lbs. under as adult) and 1 indoor cat, or 2 indoor cats. Association must interview all potential buyers prior to closing.

13. 2019-04-15
    listed $74,900 Active

    Show marketing remark (469 chars)

    Great 3 bedroom 2.5 bath condo. Updated kitchen, maple cabinets, stainless steel appliances. Fireplace in the living room and partially finished basement. Association feeds include trash, lawn, snow and exterior maintenance. Water is paid monthly to assoc. approx. $135 for 3 people. All units must be owner occupied. Pet restriction of 1 dog (30 lbs. under as adult) and 1 indoor cat, or 2 indoor cats. Association must interview all potential buyers prior to closing.

14. 2008-08-29
    soldstatus $58,000
15. 2008-07-10
    soldstatus $58,000
16. 2008-06-02
    historical
17. 2008-04-18
    listed $59,900
18. 2008-04-17
    listed $59,900
19. 2004-10-31
    historical
20. 2004-10-31
    historical
21. 2004-10-31
    historical
22. 2004-09-21
    listed $98,000
23. 2004-09-21
    listed $98,000
24. 2004-03-12
    listed $98,000

ⓘ 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: $1,493 · $124/mo
• Projected year-2 tax: $1,901 · $158/mo
• Expected delta: +$408/yr (+$34/mo · 27.3%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,299
• − Mortgage interest: −$8,397
• − Property taxes: −$1,493
• − Insurance: −$750
• − Repairs & maintenance: −$1,544
• − Management: −$1,544
• − HOA: −$3,240
• − Depreciation: −$4,361
• Taxable loss: −$2,029
• Est. tax savings @ 24.0%: +$487
• After-tax cash flow: $818/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: Lapeer Community Schools
• NCES district ID: 2621180
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $53,749
• Composite: 34.79/100
• National rank: #5113
• State rank: #202 of 540 in MI

Livability — Lapeer

• Score: 72/100
• State rank: #231
• US rank: #5855

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lapeer, MI
• County: Lapeer County · 30,581 people
• City population: 30,581
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 30,581
• Household income: $66,062
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 908.0

Population outlook (Lapeer County) Hauer SSP2

• Today (2025): 89,826 people
• By 2030: 89,535 · -0.3%
• By 2040: 86,695 · -3.5%
• By 2050: 80,566 · -10.3%
• By 2075: 65,783 · -26.8%
• By 2100: 46,584 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Lapeer

• 2024 margin: Solid R (+39.8) · D 29.5% · R 69.3% · Other 1.3%
• 2008→2024 swing: -36.8pp toward R · 2008: -3.0pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+36.3 2016: R+38.3 2012: R+11.5 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.58%
• Current HPI: 212.3665
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• 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

+74.5% since first listed

26 events — show timeline

• 2026-05-29 Sold (MLS) $171,000 REALCOMP
• 2026-05-29 Sold (MLS) $171,000 MiRealSource-MiMLS
• 2026-05-07 Pending — MiRealSource-MiMLS
• 2026-05-07 Pending — REALCOMP
• 2026-05-05 Contingent — MiRealSource-MiMLS
• 2026-05-05 Contingent — REALCOMP
• 2026-05-01 Listed $149,900 REALCOMP
• 2026-05-01 Listed $149,900 MiRealSource-MiMLS
• 2019-05-30 Sold (Public Records) $73,000 Public Records
• 2019-05-24 Sold (MLS) $73,000 MiRealSource-MiMLS
• 2019-05-24 Sold (MLS) $73,000 REALCOMP
• 2019-04-19 Pending — MiRealSource-MiMLS
• 2019-04-19 Pending — REALCOMP
• 2019-04-15 Listed $74,900 MiRealSource-MiMLS
• 2019-04-15 Listed $74,900 REALCOMP
• 2008-08-29 Sold (MLS) $58,000 MiRealSource-MiMLS
• 2008-07-10 Sold (MLS) $58,000 REALCOMP
• 2008-06-02 Listing Removed — MiRealSource-MiMLS
• 2008-04-18 Listed $59,900 REALCOMP
• 2008-04-17 Listed $59,900 MiRealSource-MiMLS
• 2004-10-31 Listing Removed — REALCOMP
• 2004-10-31 Listing Removed — MiRealSource-MiMLS
• 2004-10-31 Listing Removed — MiRealSource-MiMLS
• 2004-09-21 Listed $98,000 REALCOMP
• 2004-09-21 Listed $98,000 MiRealSource-MiMLS
• 2004-03-12 Listed $98,000 MiRealSource-MiMLS

Property tax history

+0.7%/yr

Latest (2025): $1,493 · +2.9% YoY. Source: county tax records.