11549 S Us Highway 27 · DeWitt, MI 48820

$149,999

2 bd · 1.0 ba · 905 sqft · MultiFamily · 297 Days on market

Built 1963 Fair condition 0.40 ac lot $166/sqft · 20% below area Est $187k · 20% under ↓ 40% since listing

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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 +17.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Amazing 2 bedroom 1 bath single family home for sale. This home is one of 8 units on the 5 acre property. The unit has a laundry room with washer/dryer hook-ups, eat-in kitchen, newer appliances and brand new windows. The property is ready to move in. The 8 units on this property are being separted out into condos from a legal perspective. That process is not done. For now, you are buying the property however it would be buying into a separate corporation that has the rights to this Unit 1 house in its entirety as described . So you will purchasing a share of a corporation that will convert into your sole ownership of this house once the legal part is completed. Home owners association (HOA) fees yet to be determined but should not be more than $100/m

Key facts

• Laundry room
• Newer appliances
• Eat-in kitchen

Tags

• LAUNDRY ROOM
• EAT-IN KITCHEN
• NEWER APPLIANCES
• BRAND NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $150k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $145k (3.0% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 2.9% in DeWitt — 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 (#99 in MI, #2,361 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety D-.
• Bath Community Schools (suburban): math 25% / reading 47% proficiency, ranked #247 of 540 in MI (top 46%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 103 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 154 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($113k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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.

Negotiation context

• It's been on market 297 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $131,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.21%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $186,740
• List price: $149,999
• Delta: -19.67%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.2%
• Equity multiple: 0.59×
• Total profit: $-17,121
• Equity at exit: $22,365

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-5,596
• Equity at exit: $12,969

Cash invested: $42,000 (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 48820

• Active inventory: 103
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,455 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$187 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $112

Break-even live

Break-even rent $1,312

Max offer price $149,999

Occupancy floor 87%

Sensitivity live

Price	-10% $216	-5% $164	+0% $112	+5% $61	+10% $9
Rent	-10% $-2	-5% $55	+0% $112	+5% $170	+10% $227
Rate	-1.0pp $188	-0.5pp $151	base $112	+0.5pp $74	+1.0pp $34

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1225 Northway Dr DeWitt, MI	1.0	1.0	900	$1,225	$1.36	14d	1	1.42mi

Listing history 21 events

1. 2026-06-18
   days on market $149,999 Active 297 DOM
2. 2026-06-17
   days on market $149,999 Active 296 DOM
3. 2026-06-16
   days on market $149,999 Active 295 DOM
4. 2026-06-15
   days on market $149,999 Active 294 DOM
5. 2026-06-14
   days on market $149,999 Active 292 DOM
6. 2026-06-10
   days on market $149,999 Active 289 DOM
7. 2026-06-09
   days on market $149,999 Active 288 DOM
8. 2026-06-08
   days on market $149,999 Active 287 DOM
9. 2026-06-07
   days on market $149,999 Active 286 DOM
10. 2026-06-03
    days on market $149,999 Active 282 DOM
11. 2026-06-02
    days on market $149,999 Active 281 DOM
12. 2026-06-01
    days on market $149,999 Active 280 DOM
13. 2026-05-31
    days on market $149,999 Active 279 DOM
14. 2026-05-30
    days on market $149,999 Active 278 DOM
15. 2025-08-25
    listed $149,999 Active 761-char remark

    Show marketing remark (761 chars)

    Amazing 2 bedroom 1 bath single family home for sale. This home is one of 8 units on the 5 acre property. The unit has a laundry room with washer/dryer hook-ups, eat-in kitchen, newer appliances and brand new windows. The property is ready to move in. The 8 units on this property are being separted out into condos from a legal perspective. That process is not done. For now, you are buying the property however it would be buying into a separate corporation that has the rights to this Unit 1 house in its entirety as described . So you will purchasing a share of a corporation that will convert into your sole ownership of this house once the legal part is completed. Home owners association (HOA) fees yet to be determined but should not be more than $100/m

16. 2025-08-25
    listed $149,999 Active 761-char remark

    Show marketing remark (761 chars)

    Amazing 2 bedroom 1 bath single family home for sale. This home is one of 8 units on the 5 acre property. The unit has a laundry room with washer/dryer hook-ups, eat-in kitchen, newer appliances and brand new windows. The property is ready to move in. The 8 units on this property are being separted out into condos from a legal perspective. That process is not done. For now, you are buying the property however it would be buying into a separate corporation that has the rights to this Unit 1 house in its entirety as described . So you will purchasing a share of a corporation that will convert into your sole ownership of this house once the legal part is completed. Home owners association (HOA) fees yet to be determined but should not be more than $100/m

17. 2022-02-03
    price $1,000
18. 2013-04-12
    historical
19. 2012-04-12
    listed $250,000
20. 2011-08-22
    historical
21. 2010-08-25
    listed $250,000

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,454
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$4,364
• Taxable loss: −$1,104
• Est. tax savings @ 24.0%: +$265
• After-tax cash flow: $1,615/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This single-family home requires moderate renovations to update the kitchen and bathroom, which would significantly increase its value for both resale and rental purposes.

Repairs flagged

• Major kitchen appliances — outdated and need replacement
• Major bathroom fixtures — outdated and need replacement
• Minor kitchen flooring — tile needs cleaning

Value-add opportunities

• Both new kitchen appliances — modernizes the kitchen and improves functionality
• Both new bathroom fixtures — modernizes the bathroom and improves functionality
• Both new flooring in kitchen and bathroom — improves aesthetics and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · outdated and need replacement	Major	$15,000–50,000
bathroom fixtures · outdated and need replacement	Major	$15,000–50,000
kitchen flooring · tile needs cleaning	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both new kitchen appliances — modernizes the kitchen and improves functionality ↑
• Both new bathroom fixtures — modernizes the bathroom and improves functionality ↑
• Both new flooring in kitchen and bathroom — improves aesthetics and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bath Community Schools
• NCES district ID: 2604170
• Math proficiency: 25% ▼ -12.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $57,276
• Composite: 31.78/100
• National rank: #5889
• State rank: #247 of 540 in MI

Livability — DeWitt

• Score: 78/100
• State rank: #99
• US rank: #2361

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Clinton County · 18,357 people
• City population: 18,357
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 18,357
• Household income: $112,526
• Rent vs Own: 14.5% rent · 85.5% own
• Severe rent burden: 183.0

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 81,490 people
• By 2030: 82,558 · +1.3%
• By 2040: 82,325 · +1.0%
• By 2050: 79,133 · -2.9%
• By 2075: 65,737 · -19.3%
• By 2100: 51,314 · -37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Clinton

• 2024 margin: Lean R (+8.6) · D 44.9% · R 53.5% · Other 1.5%
• 2008→2024 swing: -9.3pp toward R · 2008: 0.7pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+6.5 2016: R+12.7 2012: R+6.2 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -167.50%
• Current HPI: 231.0122
• Rent YoY: —
• 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

-40.0% since first listed

7 events — show timeline

• 2025-08-25 Listed $149,999 MiRealSource-MiMLS
• 2025-08-25 Listed $149,999 REALCOMP
• 2022-02-03 Price Changed $1,000 RENT.
• 2013-04-12 Listing Removed — MiRealSource-MiMLS
• 2012-04-12 Listed $250,000 MiRealSource-MiMLS
• 2011-08-22 Listing Removed — MiRealSource-MiMLS
• 2010-08-25 Listed $250,000 MiRealSource-MiMLS