2509 S Sheridan Rd · Lennon, MI 48449

$149,900

3 bd · 1.0 ba · 1,184 sqft · SingleFamily · 21 Days on market

Built 1940 7,841 sqft lot $127/sqft · 10% below area Est $167k · 10% under

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Why this score? — see what drove the C- 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 +13.3/30.0
• ARV discount +12.0/15.0
• Appreciation +10.0/10.0
• DSCR +4.0/10.0
• Livability +3.2/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Welcome to 2509 S Sheridan Rd, a charming home with a small-town feel, but conveniently located just minutes from I-69. The sellers had planned to live here forever and were making beautiful updates, starting with the gorgeous kitchen (2023): beautiful white quartz countertops (2025), beautiful white apron sink with brand new faucet, new stainless steel appliances, and ice blue cabinets with specialized silver hardware are the kind of upgrades not typically found at this price point! Next is the focal point of the living space, the gorgeous gas fireplace with elegant white brick surround. Use this room as a cozy dining space or a family room. The living room comes with a one-of-a-kind custom-painted dresser by the seller/artist. Next, the sellers had redone the flooring (2025/2026) in the primary, living, and dining rooms with luxury vinyl plank, and the flooring for the entry way and kitchen is already purchased and will stay with the home. Other major updates include the roof (2021), the beautiful above ground pool (2021), new pool pump (2025), upgraded vanity and vanity lights (2021), charming white vinyl picket fencing for the entire backyard (2021), and a freshly painted primary bedroom. Lovers of natural beauty, the landscaping features many beautiful perennial plants: wisteria, rose of Sharon, climbing roses, mini lilac tree, hydrangeas, and forsythia bushes. Come see everything this charming home has to offer!

Key facts

• Gorgeous kitchen
• Gas fireplace
• White apron sink

Tags

• GORGEOUS KITCHEN
• WHITE QUARTZ COUNTERTOPS
• WHITE APRON SINK
• STAINLESS STEEL APPLIANCES
• ICE BLUE CABINETS
• GAS FIREPLACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $1 ($12/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (22.1% below list).
• Recommended offer: $117k (22.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#510 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools D-, crime D-.
• Durand Area Schools (rural): math 17% / reading 38% proficiency, ranked #395 of 540 in MI (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 17 active listings in the ZIP; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y 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 $77k; list at $150k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,732 (22.1% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.78% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.03%
• DSCR: 1.00
• GRM: 10.7

CMA / ARV

• ARV (median comp): $166,725
• List price: $149,900
• Delta: -10.09%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2509 S Sheridan Rd	0.00mi	3/1.0	1,184 (0%)	0mo	$145,000	$122	100
899 Oak St	0.19mi	3/1.0	1,064 (-10%)	3mo	$206,000	$194	72
908 Tyler Rd	0.17mi	3/1.0	1,008 (-15%)	6mo	$122,000	$121	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.3%
• Equity multiple: 2.95×
• Total profit: $81,651
• Equity at exit: $135,042

10-year hold

• IRR: 21.5%
• Equity multiple: 6.73×
• Total profit: $240,294
• Equity at exit: $291,223

Cash invested: $41,972 (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 48449

• Home prices YoY: 26.4%
• Active inventory: 17
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,167 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$73 /mo · $871/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $1

Break-even live

Break-even rent $1,166

Max offer price $149,900

Occupancy floor 95%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-05
   status Pending 1441-char remark

   Show marketing remark (1441 chars)

   Welcome to 2509 S Sheridan Rd, a charming home with a small-town feel, but conveniently located just minutes from I-69. The sellers had planned to live here forever and were making beautiful updates, starting with the gorgeous kitchen (2023): beautiful white quartz countertops (2025), beautiful white apron sink with brand new faucet, new stainless steel appliances, and ice blue cabinets with specialized silver hardware are the kind of upgrades not typically found at this price point! Next is the focal point of the living space, the gorgeous gas fireplace with elegant white brick surround. Use this room as a cozy dining space or a family room. The living room comes with a one-of-a-kind custom-painted dresser by the seller/artist. Next, the sellers had redone the flooring (2025/2026) in the primary, living, and dining rooms with luxury vinyl plank, and the flooring for the entry way and kitchen is already purchased and will stay with the home. Other major updates include the roof (2021), the beautiful above ground pool (2021), new pool pump (2025), upgraded vanity and vanity lights (2021), charming white vinyl picket fencing for the entire backyard (2021), and a freshly painted primary bedroom. Lovers of natural beauty, the landscaping features many beautiful perennial plants: wisteria, rose of Sharon, climbing roses, mini lilac tree, hydrangeas, and forsythia bushes. Come see everything this charming home has to offer!

2. 2026-05-04
   status Pending 1441-char remark

   Show marketing remark (1441 chars)

   Welcome to 2509 S Sheridan Rd, a charming home with a small-town feel, but conveniently located just minutes from I-69. The sellers had planned to live here forever and were making beautiful updates, starting with the gorgeous kitchen (2023): beautiful white quartz countertops (2025), beautiful white apron sink with brand new faucet, new stainless steel appliances, and ice blue cabinets with specialized silver hardware are the kind of upgrades not typically found at this price point! Next is the focal point of the living space, the gorgeous gas fireplace with elegant white brick surround. Use this room as a cozy dining space or a family room. The living room comes with a one-of-a-kind custom-painted dresser by the seller/artist. Next, the sellers had redone the flooring (2025/2026) in the primary, living, and dining rooms with luxury vinyl plank, and the flooring for the entry way and kitchen is already purchased and will stay with the home. Other major updates include the roof (2021), the beautiful above ground pool (2021), new pool pump (2025), upgraded vanity and vanity lights (2021), charming white vinyl picket fencing for the entire backyard (2021), and a freshly painted primary bedroom. Lovers of natural beauty, the landscaping features many beautiful perennial plants: wisteria, rose of Sharon, climbing roses, mini lilac tree, hydrangeas, and forsythia bushes. Come see everything this charming home has to offer!

3. 2026-04-25
   price $149,900 1441-char remark

   Show marketing remark (1441 chars)

   Welcome to 2509 S Sheridan Rd, a charming home with a small-town feel, but conveniently located just minutes from I-69. The sellers had planned to live here forever and were making beautiful updates, starting with the gorgeous kitchen (2023): beautiful white quartz countertops (2025), beautiful white apron sink with brand new faucet, new stainless steel appliances, and ice blue cabinets with specialized silver hardware are the kind of upgrades not typically found at this price point! Next is the focal point of the living space, the gorgeous gas fireplace with elegant white brick surround. Use this room as a cozy dining space or a family room. The living room comes with a one-of-a-kind custom-painted dresser by the seller/artist. Next, the sellers had redone the flooring (2025/2026) in the primary, living, and dining rooms with luxury vinyl plank, and the flooring for the entry way and kitchen is already purchased and will stay with the home. Other major updates include the roof (2021), the beautiful above ground pool (2021), new pool pump (2025), upgraded vanity and vanity lights (2021), charming white vinyl picket fencing for the entire backyard (2021), and a freshly painted primary bedroom. Lovers of natural beauty, the landscaping features many beautiful perennial plants: wisteria, rose of Sharon, climbing roses, mini lilac tree, hydrangeas, and forsythia bushes. Come see everything this charming home has to offer!

4. 2026-04-25
   price $149,900 1441-char remark

   Show marketing remark (1441 chars)

   Welcome to 2509 S Sheridan Rd, a charming home with a small-town feel, but conveniently located just minutes from I-69. The sellers had planned to live here forever and were making beautiful updates, starting with the gorgeous kitchen (2023): beautiful white quartz countertops (2025), beautiful white apron sink with brand new faucet, new stainless steel appliances, and ice blue cabinets with specialized silver hardware are the kind of upgrades not typically found at this price point! Next is the focal point of the living space, the gorgeous gas fireplace with elegant white brick surround. Use this room as a cozy dining space or a family room. The living room comes with a one-of-a-kind custom-painted dresser by the seller/artist. Next, the sellers had redone the flooring (2025/2026) in the primary, living, and dining rooms with luxury vinyl plank, and the flooring for the entry way and kitchen is already purchased and will stay with the home. Other major updates include the roof (2021), the beautiful above ground pool (2021), new pool pump (2025), upgraded vanity and vanity lights (2021), charming white vinyl picket fencing for the entire backyard (2021), and a freshly painted primary bedroom. Lovers of natural beauty, the landscaping features many beautiful perennial plants: wisteria, rose of Sharon, climbing roses, mini lilac tree, hydrangeas, and forsythia bushes. Come see everything this charming home has to offer!

5. 2026-04-13
   listed $154,900 Active 1441-char remark

   Show marketing remark (1441 chars)

   Welcome to 2509 S Sheridan Rd, a charming home with a small-town feel, but conveniently located just minutes from I-69. The sellers had planned to live here forever and were making beautiful updates, starting with the gorgeous kitchen (2023): beautiful white quartz countertops (2025), beautiful white apron sink with brand new faucet, new stainless steel appliances, and ice blue cabinets with specialized silver hardware are the kind of upgrades not typically found at this price point! Next is the focal point of the living space, the gorgeous gas fireplace with elegant white brick surround. Use this room as a cozy dining space or a family room. The living room comes with a one-of-a-kind custom-painted dresser by the seller/artist. Next, the sellers had redone the flooring (2025/2026) in the primary, living, and dining rooms with luxury vinyl plank, and the flooring for the entry way and kitchen is already purchased and will stay with the home. Other major updates include the roof (2021), the beautiful above ground pool (2021), new pool pump (2025), upgraded vanity and vanity lights (2021), charming white vinyl picket fencing for the entire backyard (2021), and a freshly painted primary bedroom. Lovers of natural beauty, the landscaping features many beautiful perennial plants: wisteria, rose of Sharon, climbing roses, mini lilac tree, hydrangeas, and forsythia bushes. Come see everything this charming home has to offer!

6. 2026-04-13
   listed $154,900 Active 1441-char remark

   Show marketing remark (1441 chars)

   Welcome to 2509 S Sheridan Rd, a charming home with a small-town feel, but conveniently located just minutes from I-69. The sellers had planned to live here forever and were making beautiful updates, starting with the gorgeous kitchen (2023): beautiful white quartz countertops (2025), beautiful white apron sink with brand new faucet, new stainless steel appliances, and ice blue cabinets with specialized silver hardware are the kind of upgrades not typically found at this price point! Next is the focal point of the living space, the gorgeous gas fireplace with elegant white brick surround. Use this room as a cozy dining space or a family room. The living room comes with a one-of-a-kind custom-painted dresser by the seller/artist. Next, the sellers had redone the flooring (2025/2026) in the primary, living, and dining rooms with luxury vinyl plank, and the flooring for the entry way and kitchen is already purchased and will stay with the home. Other major updates include the roof (2021), the beautiful above ground pool (2021), new pool pump (2025), upgraded vanity and vanity lights (2021), charming white vinyl picket fencing for the entire backyard (2021), and a freshly painted primary bedroom. Lovers of natural beauty, the landscaping features many beautiful perennial plants: wisteria, rose of Sharon, climbing roses, mini lilac tree, hydrangeas, and forsythia bushes. Come see everything this charming home has to offer!

7. 2018-06-25
   soldstatus $76,900 Sold
8. 2018-06-25
   soldstatus $76,900 Closed
9. 2018-05-04
   status Pending
10. 2018-05-04
    status Pending
11. 2018-04-16
    status Active
12. 2018-04-16
    status Active
13. 2018-04-09
    historical
14. 2018-04-09
    historical
15. 2018-04-03
    listed $76,900 Active
16. 2018-04-03
    listed $76,900 Active

ⓘ 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: $871 · $73/mo
• Projected year-2 tax: $1,590 · $132/mo
• Expected delta: +$719/yr (+$60/mo · 82.5%)

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,008
• − Mortgage interest: −$8,397
• − Property taxes: −$871
• − Insurance: −$750
• − Repairs & maintenance: −$1,121
• − Management: −$1,121
• − Depreciation: −$4,361
• Taxable loss: −$2,612
• Est. tax savings @ 24.0%: +$627
• After-tax cash flow: $639/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: Durand Area Schools
• NCES district ID: 2612330
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 38% ▼ -14.00%
• Median HH income: $45,999
• Composite: 23.67/100
• National rank: #7838
• State rank: #395 of 540 in MI

Livability — Lennon

• Score: 63/100
• State rank: #510
• US rank: #15198

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lennon, MI
• Population (ZIP): 2,760

Population outlook (Genesee County) Hauer SSP2

• Today (2025): 381,312 people
• By 2030: 362,731 · -4.9%
• By 2040: 321,550 · -15.7%
• By 2050: 279,212 · -26.8%
• By 2075: 193,336 · -49.3%
• By 2100: 128,118 · -66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 8% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 3% Dominican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Serbian 2%
• Foreign-born: 0%
• Languages at home: 99% English-only · German/W. Germanic 1%

Political lean MEDSL · Genesee

• 2024 margin: Toss-up / Even · D 51.4% · R 47.2% · Other 1.4%
• 2008→2024 swing: -28.3pp toward R · 2008: 32.5pp · 2024: 4.2pp
• All cycles: 2024: D+4.2 2020: D+9.3 2016: D+9.5 2012: D+28.2 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 76.59%
• Current HPI: 367.19
• 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

+94.9% since first listed

16 events — show timeline

• 2026-05-05 Pending — MiRealSource-MiMLS
• 2026-05-04 Pending — REALCOMP
• 2026-04-25 Price Changed $149,900 MiRealSource-MiMLS
• 2026-04-25 Price Changed $149,900 REALCOMP
• 2026-04-13 Listed $154,900 REALCOMP
• 2026-04-13 Listed $154,900 MiRealSource-MiMLS
• 2018-06-25 Sold (MLS) $76,900 MiRealSource-MiMLS
• 2018-06-25 Sold (MLS) $76,900 REALCOMP
• 2018-05-04 Pending — MiRealSource-MiMLS
• 2018-05-04 Pending — REALCOMP
• 2018-04-16 Relisted — MiRealSource-MiMLS
• 2018-04-16 Relisted — REALCOMP
• 2018-04-09 Listing Removed — REALCOMP
• 2018-04-09 Listing Removed — MiRealSource-MiMLS
• 2018-04-03 Listed $76,900 MiRealSource-MiMLS
• 2018-04-03 Listed $76,900 REALCOMP

Property tax history

+3.1%/yr

Latest (2018): $871 · +5.4% YoY. Source: county tax records.