323 S Brady St · Corunna, MI 48817

$79,900

7 bd · 1.0 ba · 1,336 sqft · SingleFamily public records · 53 Days on market

Built 1915 8,712 sqft lot $60/sqft · 70% 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 +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to downtown Corunna. The property features a fenced in yard which is great for furry friends or warm weather outside events. The 3 bedrooms 1 full bath has a bedroom on the first floor. The spacious kitchen offers lots of cabinets space as well as counter top space. All of this and you are walking distance to downtown and parks.

Key facts

• Fenced in yard
• 8,712 sq ft lot
• Built 1915

Tags

• FENCED IN YARD
• WALKING DISTANCE TO DOWNTOWN
• WALKING DISTANCE TO PARKS

What this means for you Summary

Snapshot

• This is a 7-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 2.4% in Corunna — 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 69/100 on livability (#349 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, employment D, amenities F.
• Corunna Public Schools (town): math 24% / reading 40% proficiency, ranked #330 of 540 in MI (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 52 active listings in the ZIP; 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 $552 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 16y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — 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 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?
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: 1.55% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.13%
• DSCR: 1.94
• GRM: 5.4

CMA / ARV

• ARV (median comp): $268,816
• List price: $79,900
• Delta: -70.28%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 13.6%
• Equity multiple: 1.54×
• Total profit: $12,176
• Equity at exit: $11,913

10-year hold

• IRR: 22.5%
• Equity multiple: 2.92×
• Total profit: $43,061
• Equity at exit: $6,908

Cash invested: $22,372 (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 48817

• Home prices YoY: -26.9%
• Active inventory: 52
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,239 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$132 /mo · $1,590/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $394

Break-even live

Break-even rent $740

Max offer price $79,900

Occupancy floor 63%

Sensitivity live

Price	-10% $439	-5% $416	+0% $394	+5% $371	+10% $349
Rent	-10% $296	-5% $345	+0% $394	+5% $443	+10% $492
Rate	-1.0pp $434	-0.5pp $414	base $394	+0.5pp $373	+1.0pp $352

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-21
   statusdays on market $79,900 Pending 53 DOM
2. 2026-06-18
   days on market $79,900 Active 51 DOM
3. 2026-06-17
   days on market $79,900 Active 50 DOM
4. 2026-06-16
   days on market $79,900 Active 49 DOM
5. 2026-06-15
   days on market $79,900 Active 48 DOM
6. 2026-06-13
   days on market $79,900 Active 46 DOM
7. 2026-06-12
   days on market $79,900 Active 45 DOM
8. 2026-06-09
   days on market $79,900 Active 42 DOM
9. 2026-06-08
   days on market $79,900 Active 41 DOM
10. 2026-06-07
    days on market $79,900 Active 40 DOM
11. 2026-06-05
    days on market $79,900 Active 38 DOM
12. 2026-06-04
    pricedays on market $79,900 Active 36 DOM
13. 2026-06-02
    days on market $100,000 Active 35 DOM
14. 2026-06-01
    days on market $100,000 Active 34 DOM
15. 2026-05-31
    days on market $100,000 Active 33 DOM
16. 2026-05-31
    days on market $100,000 Active 32 DOM
17. 2026-05-08
    status Active 343-char remark

    Show marketing remark (344 chars)

    Welcome home to downtown Corunna. The property features a fenced in yard which is great for furry friends or warm weather outside events. The 3 bedrooms 1 full bath has a bedroom on the first floor. The spacious kitchen offers lots of cabinets space as well as counter top space. All of this and you are walking distance to downtown and parks.

18. 2026-05-08
    status Active 344-char remark

    Show marketing remark (344 chars)

    Welcome home to downtown Corunna. The property features a fenced in yard which is great for furry friends or warm weather outside events. The 3 bedrooms 1 full bath has a bedroom on the first floor. The spacious kitchen offers lots of cabinets space as well as counter top space. All of this and you are walking distance to downtown and parks.

19. 2026-03-31
    status Pending 343-char remark

    Show marketing remark (344 chars)

    Welcome home to downtown Corunna. The property features a fenced in yard which is great for furry friends or warm weather outside events. The 3 bedrooms 1 full bath has a bedroom on the first floor. The spacious kitchen offers lots of cabinets space as well as counter top space. All of this and you are walking distance to downtown and parks.

20. 2026-03-31
    status Pending 344-char remark

    Show marketing remark (344 chars)

    Welcome home to downtown Corunna. The property features a fenced in yard which is great for furry friends or warm weather outside events. The 3 bedrooms 1 full bath has a bedroom on the first floor. The spacious kitchen offers lots of cabinets space as well as counter top space. All of this and you are walking distance to downtown and parks.

21. 2026-03-21
    listed $100,000 Active 343-char remark

    Show marketing remark (344 chars)

    Welcome home to downtown Corunna. The property features a fenced in yard which is great for furry friends or warm weather outside events. The 3 bedrooms 1 full bath has a bedroom on the first floor. The spacious kitchen offers lots of cabinets space as well as counter top space. All of this and you are walking distance to downtown and parks.

22. 2026-03-21
    listed $100,000 Active 344-char remark

    Show marketing remark (344 chars)

    Welcome home to downtown Corunna. The property features a fenced in yard which is great for furry friends or warm weather outside events. The 3 bedrooms 1 full bath has a bedroom on the first floor. The spacious kitchen offers lots of cabinets space as well as counter top space. All of this and you are walking distance to downtown and parks.

23. 2022-11-08
    soldstatus $125,000
24. 2022-10-21
    soldstatus $125,000 Sold
25. 2022-10-21
    soldstatus $125,000 Closed
26. 2022-08-30
    status Pending
27. 2022-08-30
    status Pending
28. 2022-08-24
    listed $105,000 Active
29. 2022-08-24
    listed $105,000 Active
30. 2021-12-28
    historical
31. 2021-12-28
    historical
32. 2021-12-05
    status Active
33. 2021-12-05
    status Active
34. 2021-11-30
    status Pending
35. 2021-11-30
    status Pending
36. 2021-11-26
    status Active
37. 2021-11-26
    status Active
38. 2021-11-21
    status Pending
39. 2021-11-21
    status Pending
40. 2021-11-15
    listed $120,000 Active
41. 2021-11-15
    listed $120,000 Active
42. 2014-05-14
    soldstatus $37,250
43. 2014-05-08
    soldstatus $37,250
44. 2014-05-08
    soldstatus $37,250
45. 2014-05-08
    soldstatus $37,250
46. 2013-09-29
    listed $39,900
47. 2013-09-29
    listed $39,900
48. 2013-09-27
    listed $39,900
49. 2010-02-18
    soldstatus $10,000
50. 2010-01-28
    listed $20,000

ⓘ 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: $1,590 · $132/mo
• Projected year-2 tax: $1,590 · $132/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 ≥97°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: $14,865
• − Mortgage interest: −$4,476
• − Property taxes: −$1,590
• − Insurance: −$400
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$2,324
• Taxable income: $3,698
• Est. tax owed @ 24.0%: −$887
• After-tax cash flow: $3,839/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: Corunna Public Schools
• NCES district ID: 2610860
• Math proficiency: 24% ▲ 1.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $47,801
• Composite: 27.59/100
• National rank: #6935
• State rank: #330 of 540 in MI

Livability — Corunna

• Score: 69/100
• State rank: #349
• US rank: #8909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corunna, MI
• Population (ZIP): 5,451

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 3% Asian 2% Two or more races 2%
• Common ancestry: Lithuanian 5% Romanian 5% Iranian 4%
• Foreign-born: 1% · Philippines, Canada
• 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: ▼ -91.76%
• Current HPI: 249.693
• 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

+400.0% since first listed

34 events — show timeline

• 2026-05-08 Relisted — REALCOMP
• 2026-05-08 Relisted — Greater Lansing AoR
• 2026-03-31 Pending — REALCOMP
• 2026-03-31 Pending — Greater Lansing AoR
• 2026-03-21 Listed $100,000 Greater Lansing AoR
• 2026-03-21 Listed $100,000 REALCOMP
• 2022-11-08 Sold (Public Records) $125,000 Public Records
• 2022-10-21 Sold (MLS) $125,000 MiRealSource-MiMLS
• 2022-10-21 Sold (MLS) $125,000 REALCOMP
• 2022-08-30 Pending — REALCOMP
• 2022-08-30 Pending — MiRealSource-MiMLS
• 2022-08-24 Listed $105,000 MiRealSource-MiMLS
• 2022-08-24 Listed $105,000 REALCOMP
• 2021-12-28 Listing Removed — REALCOMP
• 2021-12-28 Listing Removed — MiRealSource-MiMLS
• 2021-12-05 Relisted — REALCOMP
• 2021-12-05 Relisted — MiRealSource-MiMLS
• 2021-11-30 Pending — REALCOMP
• 2021-11-30 Pending — MiRealSource-MiMLS
• 2021-11-26 Relisted — REALCOMP
• 2021-11-26 Relisted — MiRealSource-MiMLS
• 2021-11-21 Pending — REALCOMP
• 2021-11-21 Pending — MiRealSource-MiMLS
• 2021-11-15 Listed $120,000 MiRealSource-MiMLS
• 2021-11-15 Listed $120,000 REALCOMP
• 2014-05-14 Sold (Public Records) $37,250 Public Records
• 2014-05-08 Sold (MLS) $37,250 MiRealSource-MiMLS
• 2014-05-08 Sold (MLS) $37,250 MiRealSource-MiMLS
• 2014-05-08 Sold (MLS) $37,250 REALCOMP
• 2013-09-29 Listed $39,900 MiRealSource-MiMLS
• 2013-09-29 Listed $39,900 REALCOMP
• 2013-09-27 Listed $39,900 MiRealSource-MiMLS
• 2010-02-18 Sold (MLS) $10,000 REALCOMP
• 2010-01-28 Listed $20,000 REALCOMP

Property tax history

+3.4%/yr

Latest (2025): $1,590 · -43.9% YoY. Source: county tax records.