2105 Briarhill Dr · Waverly, MI 48917

$249,900

3 bd · 2.5 ba · 1,902 sqft · SingleFamily public records · 25 Days on market

Built 1977 0.40 ac lot Est $342k · 27% under

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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).

• ARV discount +15.0/15.0
• Cash flow +13.5/30.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• Schools +4.0/10.0
• Rent growth +3.7/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2105 Briarhill, Lansing Mi. This is delta township and Grand Ledge school district. This Tri-level home sits on a big . 371 acre corner lot. . There is a nice 3 seasons room on the back for relaxing. . The yard is fully fenced and has a double gate for parking larger vehicles/campers. There is a deck off of the Sun porch. . The side entry garage has a big drive way with a basketball hoop. Garage has an opener and lots of built in storage. Once in the house, there is a large living room with a huge window offering lots of natural light. The kitchen has a breakfast bar, lots of counter tops and cabinets and is complete with all stainless steal appliances. There are 3 bedrooms upstairs with 2 full baths (one has a tub and the other a walk in shower). Lower level has a second family room with a wood burning fireplace and lots of windows. There is a 4th bedroom/office. There is also a laundry room with washer and dryer and a half bath. Plus a full basement for extra storage. This home has so much room to move and grow. This is a must see in Grand Ledge schools! Home sold as is/where is. * Home faces Piney Point Dr. Room sizes are estimates.

Key facts

• Side entry garage
• Deck off sun porch
• Double gate

Tags

• CORNER LOT
• 3 SEASONS ROOM
• FULLY FENCED YARD
• DOUBLE GATE
• DECK OFF SUN PORCH
• SIDE ENTRY GARAGE

Property features AI

Finance

• Other: Lot dimensions approximately 118.83 x 148.13 (0.4 acre)
• Financial info: Property currently listed as investment use
• HOA & community: Subdivision: Delta Mills

Exterior

• Parking: Attached oversized garage with garage door opener and inside entrance; Driveway (paved)
• Security: Gate on fenced yard
• Utilities: 100 amp electric service; Public sewer
• Home design: Multi/split level home; Built in 1977; Road frontage on a county road
• Construction: Wood siding; Shingle roof; Block and concrete perimeter foundation
• Exterior features: Deck; Exterior lighting; Drapes on windows; Fenced backyard with chain link and gate; Front yard; City lot; Curbs and street lights

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Eat-in kitchen with breakfast bar and pantry
• Bedrooms: 4 bedrooms (Primary bedroom listed separately); Bedroom sizes vary (primary approx. 13.1 x 12.7)
• Flooring: Combination of hardwood, laminate and vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Breakfast bar; Ceiling fans; Double closets; Eat-in kitchen; Laminate counters; Open floorplan; Pantry; Wood-burning fireplace in family room (1 total)
• Laundry & utility: Washer; Dryer; Laundry closet; Laundry room on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $11 ($135/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $204k (18.3% below list).
• Recommended offer: $204k (18.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.6% in Waverly — 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 84/100 on livability (#39 in MI, #805 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: commute F.
• Grand Ledge Public Schools (suburban): math 36% / reading 54% proficiency, ranked #131 of 540 in MI (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.7%/yr); 99 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 98 units permitted in Eaton County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Eaton County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $215k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $204,116 (18.3% below list)

Questions for the listing agent

1. Built in 1977 — 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: 0.82% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.19%
• DSCR: 1.01
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $342,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6361 Larocque Cir	0.06mi	3/1.5	1,772 (-7%)	5mo	$320,000	$181	78
6923 Soapstone Dr	0.43mi	3/2.0	1,830 (-4%)	3mo	$360,000	$197	69
1606 Riley Ridge Dr	0.65mi	3/2.5	1,972 (+4%)	0mo	$366,000	$186	63
1524 Lindy Dr	0.45mi	3/2.5	1,776 (-7%)	11mo	$322,500	$182	59
6009 Bradford Ln	0.47mi	4/2.0 (+1)	1,886 (-1%)	15mo	$248,000	$131	58
6510 Conestoga Dr	0.50mi	3/2.5	2,100 (+10%)	7mo	$353,000	$168	54
1210 Wolf Run Dr	0.61mi	4/2.5 (+1)	1,964 (+3%)	9mo	$315,000	$160	53
2334 Webster Rd	0.24mi	3/2.0	2,138 (+12%)	16mo	$249,800	$117	52
6222 Chieho Dr	0.59mi	3/2.5	2,113 (+11%)	7mo	$300,000	$142	48
1131 Wolf Run Dr	0.70mi	4/2.0 (+1)	1,923 (+1%)	13mo	$346,000	$180	48
1506 Willow Creek Dr	0.71mi	4/3.5 (+1)	1,964 (+3%)	12mo	$378,000	$192	42
6000 Stoney Point Dr	0.63mi	3/2.0	2,075 (+9%)	19mo	$317,000	$153	38

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 · 4.74% rent growth · sell at horizon

5-year hold

• IRR: -14.2%
• Equity multiple: 0.48×
• Total profit: $-36,190
• Equity at exit: $37,261

10-year hold

• IRR: -3.1%
• Equity multiple: 0.78×
• Total profit: $-15,323
• Equity at exit: $21,607

Cash invested: $69,972 (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 48917

• Rents YoY: 4.7%
• Active inventory: 99
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,041 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$187 /mo · $2,240/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $11

Break-even live

Break-even rent $2,027

Max offer price $249,900

Occupancy floor 94%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7877 Celosia Dr Lansing, MI	2.0	2.0	1457	$2,374	$1.63	13d	6	1.15mi
8156 Roslyn Hl Lansing, MI	2.0	2.0	1457	$2,255	$1.55	13d	7	1.29mi

Listing history 9 events

1. 2026-05-18
   status Pending 1166-char remark

   Show marketing remark (1166 chars)

   Welcome to 2105 Briarhill, Lansing Mi. This is delta township and Grand Ledge school district. This Tri-level home sits on a big . 371 acre corner lot. . There is a nice 3 seasons room on the back for relaxing. . The yard is fully fenced and has a double gate for parking larger vehicles/campers. There is a deck off of the Sun porch. . The side entry garage has a big drive way with a basketball hoop. Garage has an opener and lots of built in storage. Once in the house, there is a large living room with a huge window offering lots of natural light. The kitchen has a breakfast bar, lots of counter tops and cabinets and is complete with all stainless steal appliances. There are 3 bedrooms upstairs with 2 full baths (one has a tub and the other a walk in shower). Lower level has a second family room with a wood burning fireplace and lots of windows. There is a 4th bedroom/office. There is also a laundry room with washer and dryer and a half bath. Plus a full basement for extra storage. This home has so much room to move and grow. This is a must see in Grand Ledge schools! Home sold as is/where is. * Home faces Piney Point Dr. Room sizes are estimates.

2. 2026-05-18
   status Pending

   Show marketing remark (1166 chars)

   Welcome to 2105 Briarhill, Lansing Mi. This is delta township and Grand Ledge school district. This Tri-level home sits on a big . 371 acre corner lot. . There is a nice 3 seasons room on the back for relaxing. . The yard is fully fenced and has a double gate for parking larger vehicles/campers. There is a deck off of the Sun porch. . The side entry garage has a big drive way with a basketball hoop. Garage has an opener and lots of built in storage. Once in the house, there is a large living room with a huge window offering lots of natural light. The kitchen has a breakfast bar, lots of counter tops and cabinets and is complete with all stainless steal appliances. There are 3 bedrooms upstairs with 2 full baths (one has a tub and the other a walk in shower). Lower level has a second family room with a wood burning fireplace and lots of windows. There is a 4th bedroom/office. There is also a laundry room with washer and dryer and a half bath. Plus a full basement for extra storage. This home has so much room to move and grow. This is a must see in Grand Ledge schools! Home sold as is/where is. * Home faces Piney Point Dr. Room sizes are estimates.

3. 2026-04-29
   historical Active Under Contract 1166-char remark

   Show marketing remark (1166 chars)

   Welcome to 2105 Briarhill, Lansing Mi. This is delta township and Grand Ledge school district. This Tri-level home sits on a big . 371 acre corner lot. . There is a nice 3 seasons room on the back for relaxing. . The yard is fully fenced and has a double gate for parking larger vehicles/campers. There is a deck off of the Sun porch. . The side entry garage has a big drive way with a basketball hoop. Garage has an opener and lots of built in storage. Once in the house, there is a large living room with a huge window offering lots of natural light. The kitchen has a breakfast bar, lots of counter tops and cabinets and is complete with all stainless steal appliances. There are 3 bedrooms upstairs with 2 full baths (one has a tub and the other a walk in shower). Lower level has a second family room with a wood burning fireplace and lots of windows. There is a 4th bedroom/office. There is also a laundry room with washer and dryer and a half bath. Plus a full basement for extra storage. This home has so much room to move and grow. This is a must see in Grand Ledge schools! Home sold as is/where is. * Home faces Piney Point Dr. Room sizes are estimates.

4. 2026-04-29
   historical Active Under Contract

   Show marketing remark (1166 chars)

   Welcome to 2105 Briarhill, Lansing Mi. This is delta township and Grand Ledge school district. This Tri-level home sits on a big . 371 acre corner lot. . There is a nice 3 seasons room on the back for relaxing. . The yard is fully fenced and has a double gate for parking larger vehicles/campers. There is a deck off of the Sun porch. . The side entry garage has a big drive way with a basketball hoop. Garage has an opener and lots of built in storage. Once in the house, there is a large living room with a huge window offering lots of natural light. The kitchen has a breakfast bar, lots of counter tops and cabinets and is complete with all stainless steal appliances. There are 3 bedrooms upstairs with 2 full baths (one has a tub and the other a walk in shower). Lower level has a second family room with a wood burning fireplace and lots of windows. There is a 4th bedroom/office. There is also a laundry room with washer and dryer and a half bath. Plus a full basement for extra storage. This home has so much room to move and grow. This is a must see in Grand Ledge schools! Home sold as is/where is. * Home faces Piney Point Dr. Room sizes are estimates.

5. 2026-04-23
   listed $249,900 Active 1166-char remark

   Show marketing remark (1166 chars)

   Welcome to 2105 Briarhill, Lansing Mi. This is delta township and Grand Ledge school district. This Tri-level home sits on a big . 371 acre corner lot. . There is a nice 3 seasons room on the back for relaxing. . The yard is fully fenced and has a double gate for parking larger vehicles/campers. There is a deck off of the Sun porch. . The side entry garage has a big drive way with a basketball hoop. Garage has an opener and lots of built in storage. Once in the house, there is a large living room with a huge window offering lots of natural light. The kitchen has a breakfast bar, lots of counter tops and cabinets and is complete with all stainless steal appliances. There are 3 bedrooms upstairs with 2 full baths (one has a tub and the other a walk in shower). Lower level has a second family room with a wood burning fireplace and lots of windows. There is a 4th bedroom/office. There is also a laundry room with washer and dryer and a half bath. Plus a full basement for extra storage. This home has so much room to move and grow. This is a must see in Grand Ledge schools! Home sold as is/where is. * Home faces Piney Point Dr. Room sizes are estimates.

6. 2026-04-23
   listed $249,900 Active

   Show marketing remark (1166 chars)

   Welcome to 2105 Briarhill, Lansing Mi. This is delta township and Grand Ledge school district. This Tri-level home sits on a big . 371 acre corner lot. . There is a nice 3 seasons room on the back for relaxing. . The yard is fully fenced and has a double gate for parking larger vehicles/campers. There is a deck off of the Sun porch. . The side entry garage has a big drive way with a basketball hoop. Garage has an opener and lots of built in storage. Once in the house, there is a large living room with a huge window offering lots of natural light. The kitchen has a breakfast bar, lots of counter tops and cabinets and is complete with all stainless steal appliances. There are 3 bedrooms upstairs with 2 full baths (one has a tub and the other a walk in shower). Lower level has a second family room with a wood burning fireplace and lots of windows. There is a 4th bedroom/office. There is also a laundry room with washer and dryer and a half bath. Plus a full basement for extra storage. This home has so much room to move and grow. This is a must see in Grand Ledge schools! Home sold as is/where is. * Home faces Piney Point Dr. Room sizes are estimates.

7. 2024-01-18
   soldstatus $215,000
8. 2023-12-06
   listed $215,000
9. 2023-12-06
   listed $215,000 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: $2,240 · $187/mo
• Projected year-2 tax: $3,044 · $254/mo
• Expected delta: +$804/yr (+$67/mo · 35.9%)

ⓘ 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 · 16 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: $24,494
• − Mortgage interest: −$13,998
• − Property taxes: −$2,240
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,960
• − Management: −$1,960
• − Depreciation: −$7,270
• Taxable loss: −$4,183
• Est. tax savings @ 24.0%: +$1,004
• After-tax cash flow: $1,139/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: Grand Ledge Public Schools
• NCES district ID: 2616410
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 54% ▼ -6.00%
• Median HH income: $62,300
• Composite: 39.74/100
• National rank: #3893
• State rank: #131 of 540 in MI

Livability — Waverly

• Score: 84/100
• State rank: #39
• US rank: #805

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Waverly, MI
• County: Eaton County · 52,430 people
• City population: 32,029
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 32,483
• Household income: $70,990
• Rent vs Own: 40.0% rent · 60.0% own
• Severe rent burden: 1196.0

Population outlook (Eaton County) Hauer SSP2

• Today (2025): 110,811 people
• By 2030: 110,598 · -0.2%
• By 2040: 108,304 · -2.3%
• By 2050: 104,961 · -5.3%
• By 2075: 97,197 · -12.3%
• By 2100: 85,150 · -23.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 14% Hispanic / Latino 9% Two or more races 8% Asian 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 8% · Canada, Vietnam, South Korea
• Languages at home: 88% English-only · Spanish 4% Other Indo-European 2% Other Asian/Pacific 2%

Political lean MEDSL · Eaton

• 2024 margin: Toss-up / Even · D 47.6% · R 50.8% · Other 1.6%
• 2008→2024 swing: -11.6pp toward R · 2008: 8.4pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: R+0.8 2016: R+5.5 2012: D+3.1 2008: D+8.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -191.60%
• Current HPI: 189.2075
• Rent YoY: ▲ 4.74%
• Metro: Lansing-East Lansing, 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

+16.2% since first listed

9 events — show timeline

• 2026-05-18 Pending — REALCOMP
• 2026-05-18 Pending — Greater Lansing AoR
• 2026-04-29 Contingent — REALCOMP
• 2026-04-29 Contingent — Greater Lansing AoR
• 2026-04-23 Listed $249,900 REALCOMP
• 2026-04-23 Listed $249,900 Greater Lansing AoR
• 2024-01-18 Sold (Public Records) $215,000 Public Records
• 2023-12-06 Listed $215,000 Greater Lansing AoR
• 2023-12-06 Listed $215,000 REALCOMP

Property tax history

-1.9%/yr

Latest (2025): $2,240 · -34.7% YoY. Source: county tax records.