9103 N Union St #170 · Tecumseh, MI 49286

$113,500

3 bd · 2.0 ba · 1,248 sqft · Manufactured · 355 Days on market

Built 2025 Good condition $91/sqft · 39% below area Est $185k · 39% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Tempo Series is a complete drywall home that features a stunning kitchen meticulously crafted to provide both style and functionality. The kitchen has a gorgeous island, Energy Star Stainless Steel Appliances, recessed can lighting, ample space, and casual dining area. The primary bedroom has a large walk-in closet, a private retreat bath with his and hers double sink vanity, and a fiberglass shower with glass doors. The Clayton Tempo Three Little Birds home is an eBuilt Zero Energy Ready Home (ZERH) that can save you up to 50% annually on utility cost. Financing offered through First Choice MH LLC, a licensed mortgage loan originator in the State of Michigan, Ohio, Texas, Indiana and Illinois . Main office 600 W. 22nd Street Suite 101 Oak Brook, IL 60523. NMLS# 1241272. Equal Housing Lender. Estimated monthly payment based on price of $113,500, 10.55 APR, $3999 Down or Down Payment Amount, 360 payments of $1,848, includes Site Rent, insurance or local site taxes. All conditions are subject to credit approval and approval for residency within an authorized community. Contact local Community Manager for details. Amounts rounded to the nearest dollar.

Key facts

• Gas furnace
• Large walk-in closet
• Private retreat bath

Tags

• RECESSED CAN LIGHTING
• LARGE WALK-IN CLOSET
• PRIVATE RETREAT BATH
• ECOBEE SMART THERMOSTAT
• WHOLE HOUSE VENTILATION
• GAS FURNACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $114k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $674 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $100k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 3.6% in Tecumseh — 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 (#103 in MI, #2,459 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Tecumseh Public Schools (town): math 34% / reading 48% proficiency, ranked #181 of 540 in MI (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 96 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $785 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 $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 355 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.

Recommended offer $99,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 355 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 1.63% ✓
• Cap rate: 13.42%
• Cash-on-cash: 25.45%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

• ARV (median comp): $184,871
• List price: $113,500
• Delta: -38.61%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3820 Kaiser Rd	0.68mi	3/2.0	1,338 (+7%)	9mo	$206,000	$154	49

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: 19.0%
• Equity multiple: 1.77×
• Total profit: $24,559
• Equity at exit: $16,923

10-year hold

• IRR: 27.4%
• Equity multiple: 3.42×
• Total profit: $76,768
• Equity at exit: $9,813

Cash invested: $31,780 (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 49286

• Home prices YoY: -32.9%
• Active inventory: 96
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,846 high
• Mortgage (P&I): −$595
• Tax est. 1.5%: −$142 /mo · $1,702/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $674

Break-even live

Break-even rent $993

Max offer price $113,500

Occupancy floor 58%

Sensitivity live

Price	-10% $752	-5% $713	+0% $674	+5% $635	+10% $595
Rent	-10% $528	-5% $601	+0% $674	+5% $747	+10% $820
Rate	-1.0pp $731	-0.5pp $703	base $674	+0.5pp $645	+1.0pp $615

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: $28,375
• Closing costs: $3,405
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9115 N Union St Tecumseh, MI	3.0	2.0	1408	$1,876	$1.33	15d	4	0.02mi
9103 N Union St #174 Tecumseh, MI	3.0	2.0	1344	$1,903	$1.42	15d	1	0.07mi
9103 N Union St #165 Tecumseh, MI	3.0	2.0	1248	$1,848	$1.48	15d	1	0.07mi
1325 Southwestern Dr Tecumseh, MI	2.0	1.5	950	$1,130	$1.19	15d	1	1.31mi
1316 Southwestern Dr Tecumseh, MI	2.0	1.5	950	$1,130	$1.19	15d	1	1.38mi

Listing history 18 events

1. 2026-06-21
   days on market $113,500 Active 355 DOM
2. 2026-06-18
   days on market $113,500 Active 352 DOM
3. 2026-06-17
   days on market $113,500 Active 351 DOM
4. 2026-06-16
   days on market $113,500 Active 350 DOM
5. 2026-06-15
   days on market $113,500 Active 349 DOM
6. 2026-06-14
   days on market $113,500 Active 347 DOM
7. 2026-06-13
   days on market $113,500 Active 346 DOM
8. 2026-06-10
   days on market $113,500 Active 344 DOM
9. 2026-06-09
   days on market $113,500 Active 343 DOM
10. 2026-06-08
    days on market $113,500 Active 342 DOM
11. 2026-06-07
    days on market $113,500 Active 341 DOM
12. 2026-06-05
    days on market $113,500 Active 338 DOM
13. 2026-06-03
    days on market $113,500 Active 337 DOM
14. 2026-06-02
    days on market $113,500 Active 336 DOM
15. 2026-06-01
    days on market $113,500 Active 335 DOM
16. 2026-05-31
    days on market $113,500 Active 334 DOM
17. 2026-05-30
    days on market $113,500 Active 333 DOM
18. 2025-07-02
    listed $113,500 Active 1171-char remark

    Show marketing remark (1171 chars)

    The Tempo Series is a complete drywall home that features a stunning kitchen meticulously crafted to provide both style and functionality. The kitchen has a gorgeous island, Energy Star Stainless Steel Appliances, recessed can lighting, ample space, and casual dining area. The primary bedroom has a large walk-in closet, a private retreat bath with his and hers double sink vanity, and a fiberglass shower with glass doors. The Clayton Tempo Three Little Birds home is an eBuilt Zero Energy Ready Home (ZERH) that can save you up to 50% annually on utility cost. Financing offered through First Choice MH LLC, a licensed mortgage loan originator in the State of Michigan, Ohio, Texas, Indiana and Illinois . Main office 600 W. 22nd Street Suite 101 Oak Brook, IL 60523. NMLS# 1241272. Equal Housing Lender. Estimated monthly payment based on price of $113,500, 10.55 APR, $3999 Down or Down Payment Amount, 360 payments of $1,848, includes Site Rent, insurance or local site taxes. All conditions are subject to credit approval and approval for residency within an authorized community. Contact local Community Manager for details. Amounts rounded to the nearest dollar.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,151
• − Mortgage interest: −$6,358
• − Property taxes: −$1,702
• − Insurance: −$568
• − Repairs & maintenance: −$1,772
• − Management: −$1,772
• − Depreciation: −$3,302
• Taxable income: $6,678
• Est. tax owed @ 24.0%: −$1,603
• After-tax cash flow: $6,485/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 · 6 photos

Good 80/100 Cosmetic rehab

This manufactured home is in excellent condition with a good layout and fresh finishes. It is move-in ready with potential for minor cosmetic upgrades to enhance its curb appeal and value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and adds value to the property.
• Both Add smart home features — Improves functionality and adds value to the property.
• Both Install energy-efficient windows — Reduces utility costs and enhances energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑
• Both Add smart home features — Improves functionality and adds value to the property. ↑
• Both Install energy-efficient windows — Reduces utility costs and enhances energy efficiency. ↑

ⓘ 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: Tecumseh Public Schools
• NCES district ID: 2633720
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $58,026
• Composite: 36.04/100
• National rank: #4775
• State rank: #181 of 540 in MI

Livability — Tecumseh

• Score: 78/100
• State rank: #103
• US rank: #2459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tecumseh, MI
• City population: 14,331
• Population (ZIP): 14,331

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 (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 7% Black 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -114.90%
• Current HPI: 234.4935
• 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

1 event — show timeline

• 2025-07-02 Listed $113,500 Zillow