18412 Royena Dr · Highland, MI 49665

$162,900

3 bd · 2.0 ba · 1,568 sqft · SingleFamily · 27 Days on market

Built 1999 1.26 ac lot

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Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• Schools +3.8/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0

Listing remarks MLS

Tucked just off M-115 and surrounded by mature hardwood trees, this well-maintained 3-bedroom, 2-bath home offers comfort, convenience, and move-in-ready appeal on two lots. Inside, you'll find a welcoming layout designed for easy everyday living, while outside, the peaceful setting provides space to relax and enjoy. A storage shed is also included--perfect for tools, lawn equipment, and recreational gear. Whether you're searching for your first home, a weekend retreat, this property is full of potential. Schedule your private showing today.

Key facts

• Storage shed
• Well maintained
• Move in ready

Tags

• MATURE HARDWOOD TREES
• WELL MAINTAINED
• MOVE IN READY
• STORAGE SHED

Property features AI

Exterior

• Utilities: Well water; Electric water heater
• Home design: Ranch-style residential; Built in 1999
• Construction: Vinyl siding; Metal roof; Crawl space foundation
• Exterior features: Recreational, wooded lot; Shed(s) on the property; 1.26-acre lot

Interior

• Kitchen: Built-in gas oven; Dishwasher; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Wood heating
• Interior features: LP tank rented; Replacement windows with window treatments; Fireplace; 10 total rooms
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $163k.

Deal economics

• At list price, monthly cash flow is $-225 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (20.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (30.0% below list).
• Recommended offer: $114k (30.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Marion Public Schools (rural): math 33% / reading 53% proficiency, ranked #328 of 760 in MI (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 33 active listings in the ZIP; 5 units permitted in Osceola County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Osceola County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $114,042 (30.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.70% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.92%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.63×
• Total profit: $74,417
• Equity at exit: $146,753

10-year hold

• IRR: 18.4%
• Equity multiple: 6.05×
• Total profit: $230,441
• Equity at exit: $316,479

Cash invested: $45,612 (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 49665

• Home prices YoY: 11.3%
• Active inventory: 33
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,140 medium
• Mortgage (P&I): −$854
• Tax est. 1.5%: −$204 /mo · $2,444/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $-225

Break-even live

Break-even rent $1,425

Max offer price $130,366

Occupancy floor —

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: $40,725
• Closing costs: $4,887
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $162,900 Active 27 DOM
2. 2026-06-17
   days on market $162,900 Active 26 DOM
3. 2026-06-16
   days on market $162,900 Active 25 DOM
4. 2026-06-15
   days on market $162,900 Active 24 DOM
5. 2026-06-13
   days on market $162,900 Active 22 DOM
6. 2026-06-12
   pricedays on market $162,900 Active 21 DOM
7. 2026-06-09
   days on market $167,900 Active 18 DOM
8. 2026-06-08
   days on market $167,900 Active 17 DOM
9. 2026-06-07
   days on market $167,900 Active 16 DOM
10. 2026-06-05
    days on market $167,900 Active 14 DOM
11. 2026-06-04
    days on market $167,900 Active 12 DOM
12. 2026-06-02
    days on market $167,900 Active 11 DOM
13. 2026-06-01
    days on market $167,900 Active 10 DOM
14. 2026-05-31
    days on market $167,900 Active 9 DOM
15. 2026-05-31
    days on market $167,900 Active 8 DOM
16. 2026-05-22
    listed $167,900 Active

    Show marketing remark (547 chars)

    Tucked just off M-115 and surrounded by mature hardwood trees, this well-maintained 3-bedroom, 2-bath home offers comfort, convenience, and move-in-ready appeal on two lots. Inside, you'll find a welcoming layout designed for easy everyday living, while outside, the peaceful setting provides space to relax and enjoy. A storage shed is also included--perfect for tools, lawn equipment, and recreational gear. Whether you're searching for your first home, a weekend retreat, this property is full of potential. Schedule your private showing today.

17. 2026-05-22
    listed $167,900 Active 547-char remark

    Show marketing remark (547 chars)

    Tucked just off M-115 and surrounded by mature hardwood trees, this well-maintained 3-bedroom, 2-bath home offers comfort, convenience, and move-in-ready appeal on two lots. Inside, you'll find a welcoming layout designed for easy everyday living, while outside, the peaceful setting provides space to relax and enjoy. A storage shed is also included--perfect for tools, lawn equipment, and recreational gear. Whether you're searching for your first home, a weekend retreat, this property is full of potential. Schedule your private showing today.

18. 2026-05-22
    listed $167,900 Active 547-char remark

    Show marketing remark (547 chars)

    Tucked just off M-115 and surrounded by mature hardwood trees, this well-maintained 3-bedroom, 2-bath home offers comfort, convenience, and move-in-ready appeal on two lots. Inside, you'll find a welcoming layout designed for easy everyday living, while outside, the peaceful setting provides space to relax and enjoy. A storage shed is also included--perfect for tools, lawn equipment, and recreational gear. Whether you're searching for your first home, a weekend retreat, this property is full of potential. Schedule your private showing today.

ⓘ 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: $13,685
• − Mortgage interest: −$9,125
• − Property taxes: −$2,444
• − Insurance: −$814
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − Depreciation: −$4,739
• Taxable loss: −$5,626
• Est. tax savings @ 24.0%: +$1,350
• After-tax cash flow: $-1,348/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: Marion Public Schools
• NCES district ID: 2622800
• Math proficiency: 33% ▲ 16.00%
• Reading proficiency: 53% ▲ 31.00%
• Median HH income: $35,461
• Composite: 37.86/100
• National rank: #8710
• State rank: #328 of 760 in MI

Livability — Highland

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,022

Population outlook (Osceola County) Hauer SSP2

• Today (2025): 21,724 people
• By 2030: 20,769 · -4.4%
• By 2040: 18,720 · -13.8%
• By 2050: 16,611 · -23.5%
• By 2075: 11,942 · -45.0%
• By 2100: 7,546 · -65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 3% Two or more races 3%
• Common ancestry: Iranian 11% Romanian 3% Lithuanian 2%
• Foreign-born: 0%
• Languages at home: 94% English-only · German/W. Germanic 5% Spanish 1%

Political lean MEDSL · Osceola

• 2024 margin: Solid R (+47.9) · D 25.2% · R 73.1% · Other 1.7%
• 2008→2024 swing: -37.7pp toward R · 2008: -10.1pp · 2024: -47.9pp
• All cycles: 2024: R+47.9 2020: R+46.3 2016: R+43.7 2012: R+21.0 2008: R+10.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 26.88%
• Current HPI: 264.0932
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-22 Listed $167,900 MiRealSource-MiMLS
• 2026-05-22 Listed $167,900 REALCOMP
• 2026-05-22 Listed $167,900 SW Michigan MLS