701 Missouri River Dr · Adrian, MI 49221

$85,000

3 bd · 2.0 ba · 1,848 sqft · Other · 79 Days on market

Built 1995 ↓ 3% 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 +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

Key facts

• Drywalled interior
• Hot tub
• New flooring

Tags

• MOVE IN READY
• DRYWALLED INTERIOR
• NEW FLOORING
• HOT TUB
• CORNER LOT

Property features AI

Finance

• HOA & community: Has association; Association includes snow removal

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water
• Home design: Ranch-style residential; Single-story; Built in 1995
• Construction: Vinyl siding
• Exterior features: Located on a cul-de-sac; Public water

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Range; Refrigerator; Kitchen approx. 13 x 13; Breakfast nook (9 x 13)
• Bedrooms: Primary bedroom (14 x 13); Bedroom 2 (10 x 13); Bedroom 3 (9 x 13)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Total of 8 rooms; Basement (other)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $85k.

Deal economics

• At list price, monthly cash flow is $727 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $80k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.6% vs local median 5.7% 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.
• Madison School District (Lenawee) (town): math 34% / reading 51% proficiency, ranked #195 of 540 in MI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 214 active listings in the ZIP; 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 $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($80k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $79,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.82% ✓
• Cap rate: 16.55%
• Cash-on-cash: 36.63%
• DSCR: 2.63
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 32.4%
• Equity multiple: 2.36×
• Total profit: $32,468
• Equity at exit: $12,674

10-year hold

• IRR: 39.5%
• Equity multiple: 4.69×
• Total profit: $87,725
• Equity at exit: $7,349

Cash invested: $23,800 (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: 214
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,547 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$14 /mo · $173/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $727

Break-even live

Break-even rent $627

Max offer price $85,000

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $85,000 Active 79 DOM
2. 2026-06-17
   days on market $85,000 Active 78 DOM
3. 2026-06-16
   days on market $85,000 Active 77 DOM
4. 2026-06-15
   days on market $85,000 Active 76 DOM
5. 2026-06-13
   days on market $85,000 Active 74 DOM
6. 2026-06-12
   days on market $85,000 Active 73 DOM
7. 2026-06-09
   days on market $85,000 Active 70 DOM
8. 2026-06-08
   days on market $85,000 Active 69 DOM
9. 2026-06-07
   days on market $85,000 Active 68 DOM
10. 2026-06-05
    pricedays on market $85,000 Active 66 DOM
11. 2026-06-04
    days on market $87,500 Active 64 DOM
12. 2026-06-02
    days on market $87,500 Active 63 DOM
13. 2026-06-01
    days on market $87,500 Active 62 DOM
14. 2026-05-31
    days on market $87,500 Active 61 DOM
15. 2026-05-31
    days on market $87,500 Active 60 DOM
16. 2026-04-28
    price $87,500 335-char remark

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

17. 2026-04-27
    price $87,500 335-char remark

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

18. 2026-04-27
    price $87,500

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

19. 2026-04-08
    status Active 335-char remark

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

20. 2026-04-08
    status Active 335-char remark

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

21. 2026-04-08
    status Active

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

22. 2026-04-03
    status Pending 335-char remark

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

23. 2026-04-03
    status Pending 335-char remark

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

24. 2026-04-03
    status Pending

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

25. 2026-03-26
    listed $89,900 Active 335-char remark

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

26. 2026-03-26
    listed $89,900 Active 335-char remark

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

27. 2026-03-26
    listed $89,900 Active

    Show marketing remark (335 chars)

    Nice, move-in ready home with a 2 car attached garage for sale in Hidden River North! This home features a drywalled interior, over 1800 square feet, 3 bedrooms, 2 full baths, some new flooring, Furnace/AC 5 years old, hot tub and 2 driveways for plenty of parking on this nice, corner lot. Base lot rent is $750 + $35 premium lot fee.

ⓘ 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: $173 · $14/mo
• Projected year-2 tax: $741 · $62/mo
• Expected delta: +$568/yr (+$47/mo · 328.5%)

ⓘ 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 ≥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: $18,564
• − Mortgage interest: −$4,761
• − Property taxes: −$173
• − Insurance: −$425
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$2,473
• Taxable income: $7,762
• Est. tax owed @ 24.0%: −$1,863
• After-tax cash flow: $6,856/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: Madison School District (Lenawee)
• NCES district ID: 2622320
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 51% ▼ -5.00%
• Median HH income: $37,961
• Composite: 35.35/100
• National rank: #4959
• State rank: #195 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

• Census place: Adrian, MI
• 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

-2.7% since first listed

12 events — show timeline

• 2026-04-28 Price Changed $87,500 MiRealSource-MiMLS
• 2026-04-27 Price Changed $87,500 REALCOMP
• 2026-04-27 Price Changed $87,500 SW Michigan MLS
• 2026-04-08 Relisted — REALCOMP
• 2026-04-08 Relisted — MiRealSource-MiMLS
• 2026-04-08 Relisted — SW Michigan MLS
• 2026-04-03 Pending — REALCOMP
• 2026-04-03 Pending — MiRealSource-MiMLS
• 2026-04-03 Pending — SW Michigan MLS
• 2026-03-26 Listed $89,900 SW Michigan MLS
• 2026-03-26 Listed $89,900 REALCOMP
• 2026-03-26 Listed $89,900 MiRealSource-MiMLS

Property tax history

+1.4%/yr

Latest (2025): $173 · -12.7% YoY. Source: county tax records.