260 Storr · Madison, MI 49221

$93,000

3 bd · 2.0 ba · 1,352 sqft · Manufactured · 87 Days on market

Built 1997 Good condition ↓ 5% since listing

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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
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nicely updated, move-in ready home for sale in Sterling Estates! This home features 3 bedrooms, 2 full baths, large closets, open floor plan and laundry area. Updates in 2025 - new carpet, appliances, lights, flooring including vinyl and carpet, new water heater, new central air, new windows, new front and back decks and new gutters. Roof was replaced in 2019. Call today for lending options!

Key facts

• Open floor plan
• New carpet
• Move-in ready home

Tags

• MOVE-IN READY HOME
• OPEN FLOOR PLAN
• NEW CARPET
• NEW APPLIANCES
• NEW LIGHTS
• NEW FLOORING

Property features AI

Exterior

• Utilities: Public water
• Home design: Ranch-style residence; Residential property
• Construction: Vinyl siding construction
• Exterior features: Vinyl siding; Year built 1997; Public water

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range; Refrigerator; Kitchen roughly 13 x 18
• Bedrooms: Primary bedroom (12 x 14); Bedroom 2 (12 x 10); Bedroom 3 (12 x 10)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 7 total rooms; Basement (other)
• Laundry & utility: Laundry room (5 x 9)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $93k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $565 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $93k).
• Recommended offer: $87k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Madison School District (Lenawee) (town): math 34% / reading 51% proficiency, ranked #195 of 540 in MI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 214 active listings in the ZIP; 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 $643 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $26k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $5k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,420 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.64% ✓
• Cap rate: 13.58%
• Cash-on-cash: 26.02%
• DSCR: 2.16
• GRM: 5.1

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: 19.7%
• Equity multiple: 1.80×
• Total profit: $20,915
• Equity at exit: $13,867

10-year hold

• IRR: 28.0%
• Equity multiple: 3.48×
• Total profit: $64,612
• Equity at exit: $8,041

Cash invested: $26,040 (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 49221

• Active inventory: 214
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,528 medium
• Mortgage (P&I): −$488
• Tax est. 1.5%: −$116 /mo · $1,395/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $565

Break-even live

Break-even rent $814

Max offer price $93,000

Occupancy floor 58%

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $93,000 Active 87 DOM
2. 2026-06-17
   days on market $93,000 Active 86 DOM
3. 2026-06-16
   days on market $93,000 Active 85 DOM
4. 2026-06-15
   days on market $93,000 Active 84 DOM
5. 2026-06-13
   days on market $93,000 Active 82 DOM
6. 2026-06-12
   days on market $93,000 Active 81 DOM
7. 2026-06-09
   days on market $93,000 Active 78 DOM
8. 2026-06-08
   days on market $93,000 Active 77 DOM
9. 2026-06-07
   days on market $93,000 Active 76 DOM
10. 2026-06-05
    days on market $93,000 Active 74 DOM
11. 2026-06-04
    days on market $93,000 Active 72 DOM
12. 2026-06-02
    days on market $93,000 Active 71 DOM
13. 2026-06-01
    days on market $93,000 Active 70 DOM
14. 2026-05-31
    days on market $93,000 Active 69 DOM
15. 2026-05-31
    days on market $93,000 Active 68 DOM
16. 2026-05-12
    price $93,000 394-char remark

    Show marketing remark (394 chars)

    Nicely updated, move-in ready home for sale in Sterling Estates! This home features 3 bedrooms, 2 full baths, large closets, open floor plan and laundry area. Updates in 2025 - new carpet, appliances, lights, flooring including vinyl and carpet, new water heater, new central air, new windows, new front and back decks and new gutters. Roof was replaced in 2019. Call today for lending options!

17. 2026-05-11
    price $93,000 394-char remark

    Show marketing remark (394 chars)

    Nicely updated, move-in ready home for sale in Sterling Estates! This home features 3 bedrooms, 2 full baths, large closets, open floor plan and laundry area. Updates in 2025 - new carpet, appliances, lights, flooring including vinyl and carpet, new water heater, new central air, new windows, new front and back decks and new gutters. Roof was replaced in 2019. Call today for lending options!

18. 2026-05-11
    price $93,000

    Show marketing remark (394 chars)

    Nicely updated, move-in ready home for sale in Sterling Estates! This home features 3 bedrooms, 2 full baths, large closets, open floor plan and laundry area. Updates in 2025 - new carpet, appliances, lights, flooring including vinyl and carpet, new water heater, new central air, new windows, new front and back decks and new gutters. Roof was replaced in 2019. Call today for lending options!

19. 2026-03-23
    listed $98,000 Active 394-char remark

    Show marketing remark (394 chars)

    Nicely updated, move-in ready home for sale in Sterling Estates! This home features 3 bedrooms, 2 full baths, large closets, open floor plan and laundry area. Updates in 2025 - new carpet, appliances, lights, flooring including vinyl and carpet, new water heater, new central air, new windows, new front and back decks and new gutters. Roof was replaced in 2019. Call today for lending options!

20. 2026-03-23
    listed $98,000 Active 394-char remark

    Show marketing remark (394 chars)

    Nicely updated, move-in ready home for sale in Sterling Estates! This home features 3 bedrooms, 2 full baths, large closets, open floor plan and laundry area. Updates in 2025 - new carpet, appliances, lights, flooring including vinyl and carpet, new water heater, new central air, new windows, new front and back decks and new gutters. Roof was replaced in 2019. Call today for lending options!

21. 2026-03-23
    listed $98,000 Active

    Show marketing remark (394 chars)

    Nicely updated, move-in ready home for sale in Sterling Estates! This home features 3 bedrooms, 2 full baths, large closets, open floor plan and laundry area. Updates in 2025 - new carpet, appliances, lights, flooring including vinyl and carpet, new water heater, new central air, new windows, new front and back decks and new gutters. Roof was replaced in 2019. Call today for lending options!

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,339
• − Mortgage interest: −$5,209
• − Property taxes: −$1,395
• − Insurance: −$465
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$2,705
• Taxable income: $5,630
• Est. tax owed @ 24.0%: −$1,351
• After-tax cash flow: $5,424/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This move-in ready home in Sterling Estates features updated interiors and exteriors, with a good condition score and minimal repairs needed.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal and home value
• Resale Replace front and back decks — Improves functionality and aesthetics
• Rental Replace front and back decks — Improves functionality and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal and home value ↑
• Resale Replace front and back decks — Improves functionality and aesthetics ↑
• Rental Replace front and back decks — Improves functionality and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Madison School District (Lenawee)
• NCES district ID: 2622320
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 51% ▼ -5.00%
• Median HH income: $37,961
• Composite: 35.35/100
• National rank: #4959
• State rank: #195 of 540 in MI

Livability — Madison

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 41,041

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% Arabic 1%

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: ▼ -143.64%
• Current HPI: 237.3796
• 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

-5.1% since first listed

6 events — show timeline

• 2026-05-12 Price Changed $93,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $93,000 REALCOMP
• 2026-05-11 Price Changed $93,000 SW Michigan MLS
• 2026-03-23 Listed $98,000 REALCOMP
• 2026-03-23 Listed $98,000 SW Michigan MLS
• 2026-03-23 Listed $98,000 MiRealSource-MiMLS