2200 W Oregon St · Lapeer, MI 48446

$109,900

2 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 19 Days on market

Built 1940 0.25 ac lot Est $209k · 47% 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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +5.7/10.0
• Livability +3.6/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all investors, flippers and buyers looking for a project! This property is packed with potential and ready for someone with vision to bring it back to life. Situated on a spacious lot this home offers a solid footprint and endless possibilities for renovation, customization or investment. Whether you're looking to restore its original charm, create your dream home, or add to your rental portfolio, this property provides the opportunity to build equity through improvements. Features include generous living space a functional layout and plenty of room to reimagine both the interior and exterior. Property is being sold as is. Cash preferred. Bring your ideas, your contractor, and your imagination opportunities like this don't come around often!

Key facts

• Spacious lot
• Solid footprint
• Functional layout

Tags

• SPACIOUS LOT
• SOLID FOOTPRINT
• GENEROUS LIVING SPACE
• FUNCTIONAL LAYOUT

Property features AI

Exterior

• Parking: No garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry; Faces unspecified direction
• Construction: Wood siding; Metal roof; Block foundation; Built-in living area above grade
• Exterior features: Porch; Shed(s); Paved road access

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator; Microwave; Range hood
• Bedrooms: Total of 4 rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Free-standing electric range; Free-standing refrigerator; Microwave; Range hood; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 3.5% in Lapeer — 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 72/100 on livability (#231 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: schools D+, employment D, commute F.
• Lapeer Community Schools (town): math 31% / reading 49% proficiency, ranked #202 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 195 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 152 units permitted in Lapeer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Lapeer County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $108,251 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.07% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.76%
• DSCR: 1.43
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $208,656
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1761 Carriage Ln	0.44mi	3/1.0 (+1)	1,008 (0%)	9mo	$206,500	$205	67
1348 Westbrooke Dr	0.53mi	3/1.0 (+1)	1,010 (+0%)	12mo	$195,000	$193	60
1725 Carriage Ln	0.47mi	3/1.0 (+1)	1,008 (0%)	17mo	$214,000	$212	59
1733 Westbrooke Dr	0.42mi	3/1.0 (+1)	1,020 (+1%)	18mo	$190,000	$186	58
1295 Westbrooke Dr	0.48mi	3/1.0 (+1)	1,008 (0%)	18mo	$230,000	$228	57
1760 A St	0.70mi	3/2.0 (+1)	1,080 (+7%)	6mo	$223,500	$207	42
817 Lamoreaux Dr	0.64mi	3/2.0 (+1)	1,100 (+9%)	8mo	$230,000	$209	39

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-1,901
• Equity at exit: $16,386

10-year hold

• IRR: 8.0%
• Equity multiple: 1.61×
• Total profit: $18,739
• Equity at exit: $9,502

Cash invested: $30,772 (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 48446

• Active inventory: 195
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,175 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$56 /mo · $673/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $250

Break-even live

Break-even rent $858

Max offer price $109,900

Occupancy floor 74%

Sensitivity live

Price	-10% $312	-5% $281	+0% $250	+5% $219	+10% $188
Rent	-10% $157	-5% $204	+0% $250	+5% $297	+10% $343
Rate	-1.0pp $306	-0.5pp $278	base $250	+0.5pp $222	+1.0pp $193

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
930 Village West Dr N Lapeer, MI	1.0–2.0	1.0	797	$1,070	$1.34	0d	2	0.26mi
1677 Woodbridge Park Ave Lapeer, MI	1.0–2.0	1.0–1.5	830	$2,565	$3.09	11d	1	0.66mi
1752 Raleigh Ave Unit 08 Lapeer, MI	2.0	1.0	1005	$1,205	$1.20	0d	1	1.42mi
1752 Raleigh Ave Unit 20 Lapeer, MI	2.0	1.0	960	$1,275	$1.33	44d	1	1.42mi
1801 Raleigh Ave Unit 18 Lapeer, MI	2.0	1.0	960	$1,260	$1.31	44d	1	1.47mi

Listing history 13 events

1. 2026-06-21
   days on market $109,900 Active 19 DOM
2. 2026-06-19
   price $109,900 Active 16 DOM
3. 2026-06-18
   days on market $114,000 Active 16 DOM
4. 2026-06-17
   days on market $114,000 Active 15 DOM
5. 2026-06-16
   days on market $114,000 Active 14 DOM
6. 2026-06-15
   days on market $114,000 Active 13 DOM
7. 2026-06-13
   days on market $114,000 Active 11 DOM
8. 2026-06-09
   days on market $114,000 Active 7 DOM
9. 2026-06-08
   days on market $114,000 Active 6 DOM
10. 2026-06-07
    days on market $114,000 Active 5 DOM
11. 2026-06-04
    days on market $114,000 Active 2 DOM
12. 2026-06-02
    remarks 699-char remark

    Show marketing remark (759 chars)

    Calling all investors, flippers and buyers looking for a project! This property is packed with potential and ready for someone with vision to bring it back to life. Situated on a spacious lot this home offers a solid footprint and endless possibilities for renovation, customization or investment. Whether you're looking to restore its original charm, create your dream home, or add to your rental portfolio, this property provides the opportunity to build equity through improvements. Features include generous living space a functional layout and plenty of room to reimagine both the interior and exterior. Property is being sold as is. Cash preferred. Bring your ideas, your contractor, and your imagination opportunities like this don't come around often!

13. 2026-06-02
    listed $114,000 Active 1 DOM

    Show marketing remark (759 chars)

    Calling all investors, flippers and buyers looking for a project! This property is packed with potential and ready for someone with vision to bring it back to life. Situated on a spacious lot this home offers a solid footprint and endless possibilities for renovation, customization or investment. Whether you're looking to restore its original charm, create your dream home, or add to your rental portfolio, this property provides the opportunity to build equity through improvements. Features include generous living space a functional layout and plenty of room to reimagine both the interior and exterior. Property is being sold as is. Cash preferred. Bring your ideas, your contractor, and your imagination opportunities like this don't come around often!

ⓘ 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: $673 · $56/mo
• Projected year-2 tax: $1,183 · $99/mo
• Expected delta: +$510/yr (+$42/mo · 75.8%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,103
• − Mortgage interest: −$6,156
• − Property taxes: −$673
• − Insurance: −$550
• − Repairs & maintenance: −$1,128
• − Management: −$1,128
• − Depreciation: −$3,197
• Taxable income: $1,271
• Est. tax owed @ 24.0%: −$305
• After-tax cash flow: $2,698/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: Lapeer Community Schools
• NCES district ID: 2621180
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $53,749
• Composite: 34.79/100
• National rank: #5113
• State rank: #202 of 540 in MI

Livability — Lapeer

• Score: 72/100
• State rank: #231
• US rank: #5855

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lapeer County · 30,581 people
• City population: 30,581
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 30,581
• Household income: $66,062
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 908.0

Population outlook (Lapeer County) Hauer SSP2

• Today (2025): 89,826 people
• By 2030: 89,535 · -0.3%
• By 2040: 86,695 · -3.5%
• By 2050: 80,566 · -10.3%
• By 2075: 65,783 · -26.8%
• By 2100: 46,584 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Black 3%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Lapeer

• 2024 margin: Solid R (+39.8) · D 29.5% · R 69.3% · Other 1.3%
• 2008→2024 swing: -36.8pp toward R · 2008: -3.0pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+36.3 2016: R+38.3 2012: R+11.5 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -243.58%
• Current HPI: 212.3665
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, 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

+0.0% since first listed

2 events — show timeline

• 2026-06-02 Listed $114,000 MiRealSource-MiMLS
• 2026-06-02 Listed $114,000 REALCOMP

Property tax history

+6.1%/yr

Latest (2025): $673 · +1.8% YoY. Source: county tax records.