2380 Linden Dr · Adrian, MI 49221

$165,000

3 bd · 1.0 ba · 1,088 sqft · SingleFamily public records · 21 Days on market

Built 1955 0.29 ac lot Est $174k · 5% 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).

• Cash flow +26.3/30.0
• ARV discount +9.8/15.0
• DSCR +8.9/10.0
• 1% rule +6.2/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3 bedroom 1 bath home features hardwood floors, updated electrical, a new roof and plenty of space in the backyard for your garden or greenhouse. This wonderful Madison Township subdivision is turn key ready. Welcome home!

Key facts

• Updated electrical
• Hardwood floors
• New roof

Tags

• HARDWOOD FLOORS
• UPDATED ELECTRICAL
• NEW ROOF
• SPACE IN THE BACKYARD

Property features AI

Finance

• Other: Located in the Gardendale subdivision; Cross street: Airport / Linden
• HOA & community: Homeowners association present

Exterior

• Parking: Detached, assigned garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Built with crawl space foundation
• Exterior features: Front porch; Fenced yard; Public-maintained road access; Lot approx. 75 x 170 (0.29 acres)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Total of 7 rooms (includes bedrooms and living spaces)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Gas water heater; Dishwasher; Dryer; Microwave; Oven; Refrigerator; Range; Washer; Hardwood flooring; Crawl space basement (no finished basement)
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 5.5% in Adrian — 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 69/100 on livability (#342 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, crime F, commute F.
• Adrian School District (town): math 25% / reading 35% proficiency, ranked #370 of 540 in MI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 212 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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 $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 $130k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,525 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — 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. Crime grade is F 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?
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: 1.12% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.09%
• DSCR: 1.49
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $174,080
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2355 Linden Dr	0.09mi	3/1.0	1,088 (0%)	21mo	$125,000	$115	78
2281 Fairview Dr	0.32mi	3/2.0	1,090 (+0%)	5mo	$192,000	$176	77
2725 Sharon Dr	0.45mi	3/1.0	1,152 (+6%)	9mo	$220,000	$191	62
2285 Fairview Ave	0.31mi	2/1.0 (-1)	1,145 (+5%)	14mo	$177,400	$155	60
2894 Park Dr	0.63mi	3/1.0	1,008 (-7%)	10mo	$220,000	$218	50
1227 Sherman St	0.55mi	4/1.0 (+1)	1,178 (+8%)	7mo	$140,000	$119	50
1840 Taylor Dr	0.75mi	3/1.0	1,188 (+9%)	4mo	$210,000	$177	47
421 S Madison St	0.73mi	3/2.0	1,201 (+10%)	7mo	$192,000	$160	39
1361 Michigan Ave	0.74mi	3/1.0	1,244 (+14%)	8mo	$175,000	$141	35

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: 0.2%
• Equity multiple: 1.01×
• Total profit: $417
• Equity at exit: $24,602

10-year hold

• IRR: 9.9%
• Equity multiple: 1.76×
• Total profit: $35,220
• Equity at exit: $14,266

Cash invested: $46,200 (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 49221

• Active inventory: 212
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,845 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$97 /mo · $1,163/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $427

Break-even live

Break-even rent $1,305

Max offer price $165,000

Occupancy floor 72%

Sensitivity live

Price	-10% $520	-5% $474	+0% $427	+5% $380	+10% $334
Rent	-10% $281	-5% $354	+0% $427	+5% $500	+10% $573
Rate	-1.0pp $510	-0.5pp $469	base $427	+0.5pp $384	+1.0pp $341

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1962 W Cadmus Rd Adrian, MI	3.0	2.0	1170	$2,250	$1.92	21d	1	0.76mi
174 Sand Creek Hwy Adrian, MI	2.0	2.0	986	$1,150	$1.17	44d	1	1.27mi

Listing history 16 events

1. 2026-06-21
   days on market $165,000 Active 21 DOM
2. 2026-06-18
   days on market $165,000 Active 19 DOM
3. 2026-06-17
   days on market $165,000 Active 18 DOM
4. 2026-06-16
   days on market $165,000 Active 17 DOM
5. 2026-06-15
   pricedays on market $165,000 Active 16 DOM
6. 2026-06-13
   days on market $168,000 Active 14 DOM
7. 2026-06-12
   days on market $168,000 Active 13 DOM
8. 2026-06-09
   days on market $168,000 Active 10 DOM
9. 2026-06-08
   days on market $168,000 Active 9 DOM
10. 2026-06-07
    days on market $168,000 Active 8 DOM
11. 2026-06-07
    statusdays on market $168,000 Active 7 DOM
12. 2026-06-04
    statusdays on market $168,000 Active Under Contract 4 DOM
13. 2026-06-02
    days on market $168,000 Active 3 DOM
14. 2026-06-01
    days on market $168,000 Active 2 DOM
15. 2026-05-31
    remarks 231-char remark
16. 2026-05-31
    listed $168,000 Active 1 DOM

ⓘ 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: $1,163 · $97/mo
• Projected year-2 tax: $1,852 · $154/mo
• Expected delta: +$689/yr (+$57/mo · 59.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $22,145
• − Mortgage interest: −$9,243
• − Property taxes: −$1,163
• − Insurance: −$825
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$4,800
• Taxable income: $2,572
• Est. tax owed @ 24.0%: −$617
• After-tax cash flow: $4,506/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: Adrian School District
• NCES district ID: 2601950
• Math proficiency: 25% ▼ -1.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $41,288
• Composite: 25.33/100
• National rank: #7480
• State rank: #370 of 540 in MI

Livability — Adrian

• Score: 69/100
• State rank: #342
• US rank: #8722

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 41,041
• Population (ZIP): 41,041

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% Arabic 1%

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: ▼ -143.64%
• Current HPI: 237.3796
• 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

+320.0% since first listed

16 events — show timeline

• 2026-05-30 Listed $168,000 MiRealSource-MiMLS
• 2026-05-30 Listed $168,000 REALCOMP
• 2022-06-10 Sold (Public Records) $129,900 Public Records
• 2022-05-27 Sold (MLS) $129,900 MiRealSource-MiMLS
• 2022-05-27 Sold (MLS) $129,900 REALCOMP
• 2022-05-20 Pending — REALCOMP
• 2022-05-20 Pending — MiRealSource-MiMLS
• 2022-04-20 Contingent — REALCOMP
• 2022-04-20 Contingent — MiRealSource-MiMLS
• 2022-04-15 Listed $129,900 MiRealSource-MiMLS
• 2022-04-15 Listed $129,900 REALCOMP
• 2012-08-29 Sold (MLS) $38,000 REALCOMP
• 2012-08-29 Sold (MLS) — MiRealSource-MiMLS
• 2012-08-06 Listing Removed — MiRealSource-MiMLS
• 2012-07-25 Listed $40,000 REALCOMP
• 2012-07-25 Listed $40,000 MiRealSource-MiMLS

Property tax history

-4.2%/yr

Latest (2025): $1,163 · -40.8% YoY. Source: county tax records.