704 Center Dr · Tecumseh, MI 49286

$229,000

3 bd · 2.0 ba · 1,876 sqft · SingleFamily · 1 Days on market

Built 1950 0.32 ac lot Est $266k · 14% under

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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).

• ARV discount +13.8/15.0
• Cash flow +12.5/30.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come take a look at this beautiful 3 bedroom, 2 bath house with a 1 car attached garage that is move-in ready. First floor offers a nice family area with a fire place, and separate living area. The basement has a full bathroom and laundry room, along with a newer furnace and a/c unit. This home is located just minutes from the historical downtown Tecumseh. Schedule your showing today before it's to late! BATVAI

Key facts

• Newer furnace
• Full bathroom
• Laundry room

Tags

• FULL BATHROOM
• LAUNDRY ROOM
• NEWER FURNACE
• A C UNIT
• HISTORICAL DOWNTOWN TECUMSEH

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Natural gas connected; High-speed internet available
• Home design: Ranch-style single-family home; Built in 1950; Living area approximately 1,876
• Construction: Vinyl and wood siding; Asphalt shingle roof; Built in 1950
• Exterior features: Sidewalk; Paved road

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Primary bedroom (10 x 13); Bedroom 2 (10 x 10); Bedroom 3 (8 x 11)
• Bathrooms: Two full bathrooms (one ~5 x 7, one ~6 x 10)
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Garage door opener; Gas log fireplace; Bay/bow windows; Window treatments; Full basement; Seven total rooms
• Laundry & utility: Laundry room (6 x 17); Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $229k.

Deal economics

• At list price, monthly cash flow is $-32 ($-379/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (10.0% below list).
• Recommended offer: $206k (10.0% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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.
• Zoned schools: Tecumseh Acres North Early Learning Center (303 students, 43% FRL); Tecumseh Middle School (math 33% / reading 41%, grade F, #248 of 493 statewide, top 53%, 793 students, 34% FRL); Tecumseh High School (math 37% / reading 72%, grade C-, #109 of 713 statewide, top 17%, 800 students, 33% FRL).
• Market conditions: 96 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 20y 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.
• Current owner paid $190k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $206,144 (10.0% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.59%
• DSCR: 0.97
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $266,392
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
882 Fedora Dr	0.47mi	3/2.5	1,800 (-4%)	0mo	$360,000	$200	69
811 Outer Dr	0.10mi	3/3.0	1,820 (-3%)	21mo	$365,000	$201	69
600 Center Dr	0.09mi	3/1.5	1,600 (-15%)	8mo	$215,000	$134	63
510 E Logan St	0.44mi	3/2.0	1,736 (-8%)	5mo	$252,000	$145	62
410 E Pottawatamie St	0.65mi	3/2.0	1,728 (-8%)	1mo	$231,000	$134	56
424 N Evans St	0.55mi	3/1.5	1,713 (-9%)	13mo	$270,000	$158	47
416 E Logan St	0.49mi	4/1.0 (+1)	2,124 (+13%)	6mo	$133,000	$63	42
205 N Ottawa St	0.67mi	3/2.0	1,756 (-6%)	23mo	$249,900	$142	39
804 River Acres Dr	0.70mi	3/2.5	1,658 (-12%)	20mo	$235,000	$142	29

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: -17.2%
• Equity multiple: 0.39×
• Total profit: $-39,039
• Equity at exit: $34,145

10-year hold

• IRR: -9.1%
• Equity multiple: 0.43×
• Total profit: $-36,262
• Equity at exit: $19,800

Cash invested: $64,120 (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: 9.3×

Monthly cashflow live

• Estimated rent: $2,061 medium
• Mortgage (P&I): −$1,201
• Tax from tax record: −$364 /mo · $4,365/yr
• Insurance: −$95
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-32

Break-even live

Break-even rent $2,101

Max offer price $223,426

Occupancy floor 97%

Sensitivity live

Price	-10% $98	-5% $33	+0% $-32	+5% $-96	+10% $-161
Rent	-10% $-194	-5% $-113	+0% $-32	+5% $50	+10% $131
Rate	-1.0pp $84	-0.5pp $27	base $-32	+0.5pp $-91	+1.0pp $-151

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: $57,250
• Closing costs: $6,870
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
603 Nokomis St Tecumseh, MI	3.0	2.0	1620	$2,500	$1.54	45d	1	1.26mi
9103 N Union St #165 Tecumseh, MI	3.0	2.0	1248	$1,848	$1.48	15d	1	1.30mi
9103 N Union St #174 Tecumseh, MI	3.0	2.0	1344	$1,903	$1.42	15d	1	1.30mi
9115 N Union St Tecumseh, MI	3.0	2.0	1408	$1,876	$1.33	15d	4	1.33mi

Listing history 2 events

1. 2026-06-21
   remarks 414-char remark
2. 2026-06-21
   listed $229,000 Active 1 DOM

ⓘ 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: $4,365 · $364/mo
• Projected year-2 tax: $4,365 · $364/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥100°F today · 15 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: $24,737
• − Mortgage interest: −$12,828
• − Property taxes: −$4,365
• − Insurance: −$1,145
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − Depreciation: −$6,662
• Taxable loss: −$4,220
• Est. tax savings @ 24.0%: +$1,013
• After-tax cash flow: $634/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: 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

+57.9% since first listed

43 events — show timeline

• 2026-06-20 Listed $229,000 SW Michigan MLS
• 2026-06-20 Listed $229,000 REALCOMP
• 2026-06-20 Listed $229,000 MiRealSource-MiMLS
• 2024-11-28 Listing Removed — MiRealSource-MiMLS
• 2024-11-28 Listing Removed — REALCOMP
• 2024-11-13 Price Changed $230,000 MiRealSource-MiMLS
• 2024-11-13 Price Changed $230,000 REALCOMP
• 2024-11-13 Price Changed $230,000 SW Michigan MLS
• 2024-11-09 Price Changed $237,000 MiRealSource-MiMLS
• 2024-11-09 Price Changed $237,000 REALCOMP
• 2024-11-09 Price Changed $237,000 SW Michigan MLS
• 2024-10-27 Price Changed $243,000 MiRealSource-MiMLS
• 2024-10-27 Price Changed $243,000 REALCOMP
• 2024-10-27 Price Changed $243,000 SW Michigan MLS
• 2024-10-16 Price Changed $248,000 MiRealSource-MiMLS
• 2024-10-16 Price Changed $248,000 REALCOMP
• 2024-10-16 Price Changed $248,000 SW Michigan MLS
• 2024-10-10 Price Changed $250,000 MiRealSource-MiMLS
• 2024-10-09 Price Changed $250,000 REALCOMP
• 2024-10-09 Price Changed $250,000 SW Michigan MLS
• 2024-10-01 Listed $255,000 MiRealSource-MiMLS
• 2024-10-01 Listed $255,000 REALCOMP
• 2022-11-01 Sold (Public Records) $190,000 Public Records
• 2022-10-28 Sold (MLS) $190,000 MiRealSource-MiMLS
• 2022-10-28 Sold (MLS) $190,000 REALCOMP
• 2022-10-03 Contingent — REALCOMP
• 2022-10-03 Contingent — MiRealSource-MiMLS
• 2022-08-24 Listed $199,875 MiRealSource-MiMLS
• 2022-08-24 Listed $199,875 REALCOMP
• 2019-01-11 Sold (Public Records) $134,000 Public Records
• 2019-01-09 Sold (MLS) $134,000 MiRealSource-MiMLS
• 2019-01-09 Sold (MLS) $134,000 REALCOMP
• 2019-01-02 Pending — MiRealSource-MiMLS
• 2018-12-11 Contingent — MiRealSource-MiMLS
• 2018-10-27 Price Changed $139,000 MiRealSource-MiMLS
• 2018-07-28 Listed $144,000 MiRealSource-MiMLS
• 2018-07-28 Listed $139,000 REALCOMP
• 2007-02-09 Listing Removed — MiRealSource-MiMLS
• 2007-02-09 Listing Removed — MiRealSource-MiMLS
• 2007-02-09 Delisted — AAMLS
• 2006-12-29 Listed $145,000 MiRealSource-MiMLS
• 2006-12-29 Listed $145,000 MiRealSource-MiMLS
• 2006-12-29 Listed — AAMLS

Property tax history

+8.0%/yr

Latest (2025): $4,365 · +8.6% YoY. Source: county tax records.