15 Ridgeway · Saline, MI 48176

$124,900

4 bd · 1.0 ba · — sqft · SingleFamily public records

Built 2001 ↓ 6% 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
• Schools +5.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check this one out before it's gone! This is a very large 2001 New Moon by Redman. You will love having a BBQ on your very nice 10X20 deck that also has a nice covered pergola for relaxing under (the owner does have the top for the pergola but it has not been set out yet). This house has updated Thermopane windows by Wallside Windows with transferable warranty and updated roof and skylights with transferable warranty. You will also love the wood burning fireplace that is perfect for relaxing around when the temperatures are cooler. The main bedroom is also huge and has it's own large bathroom. Measurements are estimated and buyer to verify all information. Buyer must be approved by park.

Key facts

• Built 2001

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $125k).
• Cap rate 18.3% vs local median 2.1% in Saline — 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 81/100 on livability (#67 in MI, #1,442 nationally) — a professional / high-income tenant draw. Strengths: schools A+, housing A+, health & safety A+; Watch: amenities D, commute F.
• Saline Area Schools (suburban): math 59% / reading 70% proficiency, ranked #20 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Market conditions: 226 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $124,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are A-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?
3. 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.
4. 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.
5. 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: 2.14% ✓
• Cap rate: 18.26%
• Cash-on-cash: 42.73%
• DSCR: 2.90
• GRM: 3.9

CMA / ARV

• ARV (median comp): $545,472
• List price: $124,900
• Delta: -78.18%
• 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
22 Ridgeway	0.07mi	3/2.0 (-1)	1,568	0mo	$73,000	$47	75
2714 Maize Loop	0.31mi	4/3.5	3,386	0mo	$600,800	$177	63
2794 Gallop Way	0.48mi	4/2.5	2,450	0mo	$555,660	$227	59
27146 Silo Dr	0.46mi	4/2.5	2,580	2mo	$557,155	$216	58
27106 Gallop Way	0.46mi	4/2.5	2,450	5mo	$508,600	$208	56
129 Saline River Dr	0.40mi	3/2.5 (-1)	2,566	4mo	$445,000	$173	54
27139 Silo Dr	0.55mi	4/2.5	2,589	2mo	$555,295	$214	54
27108 Silo Dr	0.55mi	4/2.5	2,580	4mo	$571,410	$221	52
708 Pembroke Dr	0.56mi	4/2.5	2,631	4mo	$545,000	$207	52
27144 Silo Dr	0.46mi	3/2.5 (-1)	1,988	4mo	$499,900	$251	52
620 Bannock Ct	0.69mi	4/3.0	3,583	1mo	$560,000	$156	46
600 Bannock Ct	0.68mi	4/3.5	3,380	0mo	$565,000	$167	46

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: 39.5%
• Equity multiple: 2.69×
• Total profit: $59,118
• Equity at exit: $18,623

10-year hold

• IRR: 45.9%
• Equity multiple: 5.40×
• Total profit: $153,777
• Equity at exit: $10,799

Cash invested: $34,972 (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 48176

• Active inventory: 226
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,669 high
• Mortgage (P&I): −$655
• Tax est. 1.5%: −$156 /mo · $1,874/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $1,245

Break-even live

Break-even rent $1,093

Max offer price $124,900

Occupancy floor 48%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1903 Salt Springs Dr Saline, MI	3.0	2.5	1773	$3,000	$1.69	43d	1	0.19mi
1803 Riversedge Dr Saline, MI	3.0	3.5	—	$2,000	—	21d	1	0.19mi
105 Salt Springs Dr Saline, MI	3.0	2.5	—	$2,700	—	21d	1	0.28mi
2770 Silo Dr Saline, MI	3.0	2.5	1900	$5,000	$2.63	13d	1	0.43mi
212 W Michigan Ave Saline, MI	3.0	1.5	—	$2,100	—	43d	1	0.92mi
372 Highland Dr Saline, MI	3.0	1.5	1853	$2,450	$1.32	13d	1	1.01mi
814 Claudine Ct Saline, MI	2.0–3.0	2.0–2.5	1436	$2,999	$2.09	13d	1	1.12mi

Listing history 8 events

1. 2026-06-15
   pricestatusdays on marketlisting id $124,900 Under Contract

   Show marketing remark (701 chars)

   Come check this one out before it's gone! This is a very large 2001 New Moon by Redman. You will love having a BBQ on your very nice 10X20 deck that also has a nice covered pergola for relaxing under (the owner does have the top for the pergola but it has not been set out yet). This house has updated Thermopane windows by Wallside Windows with transferable warranty and updated roof and skylights with transferable warranty. You will also love the wood burning fireplace that is perfect for relaxing around when the temperatures are cooler. The main bedroom is also huge and has it's own large bathroom. Measurements are estimated and buyer to verify all information. Buyer must be approved by park.

2. 2026-05-16
   status Pending 701-char remark

   Show marketing remark (701 chars)

   Come check this one out before it's gone! This is a very large 2001 New Moon by Redman. You will love having a BBQ on your very nice 10X20 deck that also has a nice covered pergola for relaxing under (the owner does have the top for the pergola but it has not been set out yet). This house has updated Thermopane windows by Wallside Windows with transferable warranty and updated roof and skylights with transferable warranty. You will also love the wood burning fireplace that is perfect for relaxing around when the temperatures are cooler. The main bedroom is also huge and has it's own large bathroom. Measurements are estimated and buyer to verify all information. Buyer must be approved by park.

3. 2026-05-16
   status Pending 701-char remark

   Show marketing remark (701 chars)

   Come check this one out before it's gone! This is a very large 2001 New Moon by Redman. You will love having a BBQ on your very nice 10X20 deck that also has a nice covered pergola for relaxing under (the owner does have the top for the pergola but it has not been set out yet). This house has updated Thermopane windows by Wallside Windows with transferable warranty and updated roof and skylights with transferable warranty. You will also love the wood burning fireplace that is perfect for relaxing around when the temperatures are cooler. The main bedroom is also huge and has it's own large bathroom. Measurements are estimated and buyer to verify all information. Buyer must be approved by park.

4. 2026-04-26
   status Active 701-char remark

   Show marketing remark (701 chars)

   Come check this one out before it's gone! This is a very large 2001 New Moon by Redman. You will love having a BBQ on your very nice 10X20 deck that also has a nice covered pergola for relaxing under (the owner does have the top for the pergola but it has not been set out yet). This house has updated Thermopane windows by Wallside Windows with transferable warranty and updated roof and skylights with transferable warranty. You will also love the wood burning fireplace that is perfect for relaxing around when the temperatures are cooler. The main bedroom is also huge and has it's own large bathroom. Measurements are estimated and buyer to verify all information. Buyer must be approved by park.

5. 2026-04-26
   status Active 701-char remark

   Show marketing remark (701 chars)

   Come check this one out before it's gone! This is a very large 2001 New Moon by Redman. You will love having a BBQ on your very nice 10X20 deck that also has a nice covered pergola for relaxing under (the owner does have the top for the pergola but it has not been set out yet). This house has updated Thermopane windows by Wallside Windows with transferable warranty and updated roof and skylights with transferable warranty. You will also love the wood burning fireplace that is perfect for relaxing around when the temperatures are cooler. The main bedroom is also huge and has it's own large bathroom. Measurements are estimated and buyer to verify all information. Buyer must be approved by park.

6. 2026-04-25
   historical 701-char remark

   Show marketing remark (701 chars)

   Come check this one out before it's gone! This is a very large 2001 New Moon by Redman. You will love having a BBQ on your very nice 10X20 deck that also has a nice covered pergola for relaxing under (the owner does have the top for the pergola but it has not been set out yet). This house has updated Thermopane windows by Wallside Windows with transferable warranty and updated roof and skylights with transferable warranty. You will also love the wood burning fireplace that is perfect for relaxing around when the temperatures are cooler. The main bedroom is also huge and has it's own large bathroom. Measurements are estimated and buyer to verify all information. Buyer must be approved by park.

7. 2026-04-23
   listed $119,000 Active 701-char remark

   Show marketing remark (701 chars)

   Come check this one out before it's gone! This is a very large 2001 New Moon by Redman. You will love having a BBQ on your very nice 10X20 deck that also has a nice covered pergola for relaxing under (the owner does have the top for the pergola but it has not been set out yet). This house has updated Thermopane windows by Wallside Windows with transferable warranty and updated roof and skylights with transferable warranty. You will also love the wood burning fireplace that is perfect for relaxing around when the temperatures are cooler. The main bedroom is also huge and has it's own large bathroom. Measurements are estimated and buyer to verify all information. Buyer must be approved by park.

8. 2026-04-23
   listed $119,000 Active 701-char remark

   Show marketing remark (701 chars)

   Come check this one out before it's gone! This is a very large 2001 New Moon by Redman. You will love having a BBQ on your very nice 10X20 deck that also has a nice covered pergola for relaxing under (the owner does have the top for the pergola but it has not been set out yet). This house has updated Thermopane windows by Wallside Windows with transferable warranty and updated roof and skylights with transferable warranty. You will also love the wood burning fireplace that is perfect for relaxing around when the temperatures are cooler. The main bedroom is also huge and has it's own large bathroom. Measurements are estimated and buyer to verify all information. Buyer must be approved by park.

ⓘ 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: $32,028
• − Mortgage interest: −$6,996
• − Property taxes: −$1,874
• − Insurance: −$624
• − Repairs & maintenance: −$2,562
• − Management: −$2,562
• − Depreciation: −$3,633
• Taxable income: $13,776
• Est. tax owed @ 24.0%: −$3,306
• After-tax cash flow: $11,638/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: Saline Area Schools
• NCES district ID: 2630660
• Math proficiency: 59% ▼ -11.00%
• Reading proficiency: 70% ▼ -2.00%
• Median HH income: $96,722
• Composite: 59.23/100
• National rank: #939
• State rank: #20 of 540 in MI

Livability — Saline

• Score: 81/100
• State rank: #67
• US rank: #1442

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Washtenaw County · 306,860 people
• City population: 23,451
• Metro: Ann Arbor, MI
• Population (ZIP): 23,451
• Household income: $114,206
• Rent vs Own: 16.2% rent · 83.8% own
• Severe rent burden: 315.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 5% Asian 3% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1%
• Common ancestry: Romanian 8% Lithuanian 3% Iranian 3%
• Foreign-born: 8% · Canada, China, Vietnam
• Languages at home: 90% English-only · Other Indo-European 3% Spanish 2% Chinese 1%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -133.08%
• Current HPI: 192.5282
• Rent YoY: —
• Metro: Ann Arbor, 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

-5.9% since first listed

9 events — show timeline

• 2026-06-15 Sold (MLS) $112,000 REALCOMP
• 2026-06-15 Sold (MLS) $112,000 MiRealSource-MiMLS
• 2026-05-16 Pending — REALCOMP
• 2026-05-16 Pending — MiRealSource-MiMLS
• 2026-04-26 Relisted — REALCOMP
• 2026-04-26 Relisted — MiRealSource-MiMLS
• 2026-04-25 Listing Removed — MiRealSource-MiMLS
• 2026-04-23 Listed $119,000 REALCOMP
• 2026-04-23 Listed $119,000 MiRealSource-MiMLS

Property tax history

-15.2%/yr

Latest (2025): $7 · +2.4% YoY. Source: county tax records.