491 Red Cedar Blvd · Williamston, MI 48895

$179,900

3 bd · 2.0 ba · 1,716 sqft · Land · 2 Days on market

Built 1981

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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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Schools +5.0/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to easy, low-maintenance living in Williamston's desirable Red Cedar community! This 55+ condo boasts a bright, functional, open-concept layout with abundant natural light and modern conveniences. The fully remodeled kitchen features granite countertops, a breakfast bar, stainless steel appliances, and modern finishes. Down the hall, you'll find the spacious primary bedroom, convenient first-floor laundry, and a beautifully fully remodeled bathroom. The 2nd bedroom with French doors, would make a great office. A finished lower level offers the 3rd bedroom, 2nd full bathroom, and den/family room, and leads to a walk-out patio. Located minutes from shopping, dining, parks, and downtown; the association covers exterior maintenance, lawn care, and snow removal for carefree living.

Key facts

• Garage
• Built 1981
• Listed 2 days

Property features AI

Finance

• Other: Located in the Red Cedar subdivision
• HOA & community: Association-managed community; HOA covers water, sewer, lawn care, exterior maintenance and snow removal

Exterior

• Parking: Attached 1-car garage; Driveway; Garage with door opener
• Utilities: Public sewer
• Home design: Cooperative ranch; One story; Built in 1981
• Construction: Brick and vinyl siding exterior
• Exterior features: Patio

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Stainless steel appliances; Granite counters; Breakfast bar; Open floorplan
• Bedrooms: 3 bedrooms (including primary bedroom)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heating; Central air conditioning
• Interior features: Breakfast bar; Ceiling fans; Granite counters; Open floorplan; Finished full basement
• Laundry & utility: Stacked washer/dryer; Laundry closet in hall on main level; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $180k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).

Location & tenants

• Location reads 86/100 on livability (#19 in MI, #359 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities D-, health & safety D-.
• Williamston Community Schools (town): math 49% / reading 62% proficiency, ranked #55 of 540 in MI (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 60 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Ingham County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $179,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.25% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.54%
• DSCR: 1.56
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $4,411
• Equity at exit: $26,824

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $47,152
• Equity at exit: $15,554

Cash invested: $50,372 (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 48895

• Active inventory: 60
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,240 medium
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $526

Break-even live

Break-even rent $1,574

Max offer price $179,900

Occupancy floor 72%

Sensitivity live

Price	-10% $651	-5% $589	+0% $526	+5% $464	+10% $402
Rent	-10% $349	-5% $438	+0% $526	+5% $615	+10% $703
Rate	-1.0pp $617	-0.5pp $572	base $526	+0.5pp $480	+1.0pp $432

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
123 E Riverside St Williamston, MI	3.0	2.0	1292	$1,975	$1.53	14d	1	0.58mi
2155 Mitchell Rd Williamston, MI	3.0	2.0	1492	$2,530	$1.70	14d	1	0.74mi

Listing history 2 events

1. 2026-06-18
   days on market $179,900 Active 2 DOM
2. 2026-06-16
   listed $179,900 Active 1 DOM

   Show marketing remark (795 chars)

   Welcome to easy, low-maintenance living in Williamston's desirable Red Cedar community! This 55+ condo boasts a bright, functional, open-concept layout with abundant natural light and modern conveniences. The fully remodeled kitchen features granite countertops, a breakfast bar, stainless steel appliances, and modern finishes. Down the hall, you'll find the spacious primary bedroom, convenient first-floor laundry, and a beautifully fully remodeled bathroom. The 2nd bedroom with French doors, would make a great office. A finished lower level offers the 3rd bedroom, 2nd full bathroom, and den/family room, and leads to a walk-out patio. Located minutes from shopping, dining, parks, and downtown; the association covers exterior maintenance, lawn care, and snow removal for carefree living.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $26,881
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$2,150
• − Management: −$2,150
• − Depreciation: −$5,233
• Taxable income: $3,672
• Est. tax owed @ 24.0%: −$881
• After-tax cash flow: $5,436/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: Williamston Community Schools
• NCES district ID: 2636420
• Math proficiency: 49% ▼ -15.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $79,113
• Composite: 50.08/100
• National rank: #1909
• State rank: #55 of 540 in MI

Livability — Williamston

• Score: 86/100
• State rank: #19
• US rank: #359

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Williamston, MI
• City population: 11,294
• Population (ZIP): 11,294

Population outlook (Ingham County) Hauer SSP2

• Today (2025): 300,362 people
• By 2030: 307,808 · +2.5%
• By 2040: 320,492 · +6.7%
• By 2050: 333,223 · +10.9%
• By 2075: 373,693 · +24.4%
• By 2100: 392,021 · +30.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Italian 7% Romanian 6% Lithuanian 5%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 1% French/Haitian/Cajun 1% German/W. Germanic 1%

Political lean MEDSL · Ingham

• 2024 margin: Strong D (+29.7) · D 63.9% · R 34.2% · Other 2.0%
• 2008→2024 swing: -3.6pp toward R · 2008: 33.3pp · 2024: 29.7pp
• All cycles: 2024: D+29.7 2020: D+32.2 2016: D+27.6 2012: D+27.9 2008: D+33.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -175.37%
• Current HPI: 202.0808
• 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

• 2026-06-16 Listed $179,900 REALCOMP
• 2026-06-16 Listed $179,900 Greater Lansing AoR