414 Prindle St · Owosso, MI 48867

$45,000

2 bd · 1.0 ba · 924 sqft · SingleFamily public records · 166 Days on market

Built 1935 0.25 ac lot $49/sqft · 67% below area

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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
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to start 2026 strong! Priced at just $50,000-well below the 2025 average sale price of $217,000. This 1 (possibly 2) bedroom, 1 bath home offers 924 sq ft of living space, a full basement, and sits on a deep 41 x 264 lot. Features a newer 16 x 31 garage with door opener and interior shelving. Conveniently located near Baker College. Ideal for investors or buyers looking to build equity. Cash Offers Only !!!!Don't miss this one!

Key facts

• 0.25 acre lot
• Garage
• Built 1935

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.8% vs local median 4.2% in Owosso — 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 76/100 on livability (#147 in MI, #3,704 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D-, commute F.
• Owosso Public Schools (town): math 21% / reading 33% proficiency, ranked #401 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 166 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 74 units permitted in Shiawassee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Shiawassee County population projected at -25% 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D 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?
7. 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.
8. 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.
9. 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: 2.22% ✓
• Cap rate: 18.83%
• Cash-on-cash: 44.76%
• DSCR: 2.99
• GRM: 3.8

CMA / ARV

• ARV (median comp): $136,408
• List price: $45,000
• Delta: -67.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
821 Ryan St	0.46mi	2/1.0	924 (0%)	4mo	$126,500	$137	76
315 Prindle St	0.11mi	3/1.0 (+1)	1,000 (+8%)	1mo	$149,900	$150	75
616 W Stewart St	0.30mi	3/1.0 (+1)	960 (+4%)	0mo	$170,000	$177	74
306 Cass St	0.53mi	2/1.0	922 (-0%)	6mo	$103,000	$112	70
1011 State St	0.47mi	2/1.0	960 (+4%)	3mo	$155,000	$161	69
1105 Palmer Ave	0.09mi	3/2.0 (+1)	1,040 (+13%)	3mo	$173,000	$166	64
615 Broadway Ave	0.66mi	3/2.0 (+1)	944 (+2%)	0mo	$179,900	$191	56
1400 S Chipman St	0.61mi	3/1.0 (+1)	988 (+7%)	0mo	$120,000	$121	55
304 W Corunna Ave	0.51mi	3/1.0 (+1)	1,010 (+9%)	4mo	$100,000	$99	52
1207 Broadway Ave	0.66mi	2/1.0	844 (-9%)	4mo	$120,000	$142	51
755 Woodlawn Ave	0.72mi	2/1.0	840 (-9%)	2mo	$91,000	$108	49
810 Broadway Ave	0.62mi	1/1.0 (-1)	857 (-7%)	6mo	$42,000	$49	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: 41.8%
• Equity multiple: 2.80×
• Total profit: $22,663
• Equity at exit: $6,710

10-year hold

• IRR: 48.0%
• Equity multiple: 5.63×
• Total profit: $58,363
• Equity at exit: $3,891

Cash invested: $12,600 (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 48867

• Active inventory: 166
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$65 /mo · $783/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $470

Break-even live

Break-even rent $405

Max offer price $45,000

Occupancy floor 48%

Sensitivity live

Price	-10% $495	-5% $483	+0% $470	+5% $457	+10% $445
Rent	-10% $391	-5% $430	+0% $470	+5% $509	+10% $549
Rate	-1.0pp $493	-0.5pp $481	base $470	+0.5pp $458	+1.0pp $446

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 Candlewick Dr Owosso, MI	3.0	2.0	1056	$1,000	$0.95	14d	1	0.83mi

Listing history 19 events

1. 2026-06-21
   days on market $45,000 Active 166 DOM
2. 2026-06-18
   days on market $45,000 Active 164 DOM
3. 2026-06-17
   days on market $45,000 Active 163 DOM
4. 2026-06-16
   days on market $45,000 Active 162 DOM
5. 2026-06-15
   days on market $45,000 Active 161 DOM
6. 2026-06-13
   days on market $45,000 Active 159 DOM
7. 2026-06-12
   days on market $45,000 Active 158 DOM
8. 2026-06-09
   remarks 519-char remark
9. 2026-06-09
   pricedays on market $45,000 Active 155 DOM
10. 2026-06-08
    days on market $50,000 Active 154 DOM
11. 2026-06-07
    days on market $50,000 Active 153 DOM
12. 2026-06-07
    days on market $50,000 Active 152 DOM
13. 2026-06-04
    days on market $50,000 Active 149 DOM
14. 2026-06-02
    days on market $50,000 Active 148 DOM
15. 2026-06-01
    days on market $50,000 Active 147 DOM
16. 2026-05-31
    days on market $50,000 Active 146 DOM
17. 2026-05-31
    days on market $50,000 Active 145 DOM
18. 2026-01-05
    listed $50,000 Active 449-char remark

    Show marketing remark (461 chars)

    Great opportunity to start 2026 strong! Priced at just $50,000—well below the 2025 average sale price of $217,000. This 1 (possibly 2) bedroom, 1 bath home offers 924 sq ft of living space, a full basement, and sits on a deep 41 x 264 lot. Features a newer 16 x 31 garage with door opener and interior shelving. Conveniently located near Baker College. Ideal for investors or buyers looking to build equity. Cash Offers Only !!!!Don’t miss this one!

19. 2026-01-05
    listed $50,000 Active 461-char remark

    Show marketing remark (461 chars)

    Great opportunity to start 2026 strong! Priced at just $50,000—well below the 2025 average sale price of $217,000. This 1 (possibly 2) bedroom, 1 bath home offers 924 sq ft of living space, a full basement, and sits on a deep 41 x 264 lot. Features a newer 16 x 31 garage with door opener and interior shelving. Conveniently located near Baker College. Ideal for investors or buyers looking to build equity. Cash Offers Only !!!!Don’t miss this one!

ⓘ 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: $783 · $65/mo
• Projected year-2 tax: $783 · $65/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 2/10 Low 7 d/yr ≥98°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: $12,000
• − Mortgage interest: −$2,521
• − Property taxes: −$783
• − Insurance: −$225
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$1,309
• Taxable income: $5,242
• Est. tax owed @ 24.0%: −$1,258
• After-tax cash flow: $4,382/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: Owosso Public Schools
• NCES district ID: 2627210
• Math proficiency: 21% ▼ -6.00%
• Reading proficiency: 33% ▲ 1.00%
• Median HH income: $40,656
• Composite: 22.78/100
• National rank: #8025
• State rank: #401 of 540 in MI

Livability — Owosso

• Score: 76/100
• State rank: #147
• US rank: #3704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Owosso, MI
• City population: 27,399
• Population (ZIP): 27,399

Population outlook (Shiawassee County) Hauer SSP2

• Today (2025): 64,238 people
• By 2030: 61,434 · -4.4%
• By 2040: 55,054 · -14.3%
• By 2050: 48,426 · -24.6%
• By 2075: 35,995 · -44.0%
• By 2100: 26,678 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · Shiawassee

• 2024 margin: Strong R (+23.1) · D 37.7% · R 60.8% · Other 1.6%
• 2008→2024 swing: -31.7pp toward R · 2008: 8.6pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.9 2016: R+19.6 2012: D+3.7 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -234.79%
• Current HPI: 190.5775
• 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

2 events — show timeline

• 2026-01-05 Listed $50,000 REALCOMP
• 2026-01-05 Listed $50,000 MiRealSource-MiMLS

Property tax history

-4.8%/yr

Latest (2025): $783 · -51.8% YoY. Source: county tax records.