1938 Bock St · Owosso, MI 48867

$89,000

1 bd · 1.0 ba · 750 sqft · SingleFamily · 3 Days on market

Built 1900 1.30 ac lot Est $107k · 17% 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 +21.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +4.6/10.0
• 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

* * H & B DUE 4/13 @ 8PM * * Cute & cozy ranch home located on the outskirts of town sitting on over an acre of land! Possible office/nursery! Newer furnace and siding! Detached garage and large shed! All at an incredible price!

Key facts

• Ranch home
• Newer furnace
• Newer siding

Tags

• RANCH HOME
• OVER AN ACRE OF LAND
• NEWER FURNACE
• NEWER SIDING
• DETACHED GARAGE
• LARGE SHED

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/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 $85k (4.0% below list).
• Recommended offer: $85k (4.0% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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: 162 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 $615 of loan paydown is wiped out by about $3k 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.

Negotiation context

• Only 3 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,410 (4.0% below list)

Questions for the listing agent

1. Built in 1900 — 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: 0.96% ✗
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $107,250
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1938 Bock St	0.00mi	1/1.0	750 (0%)	0mo	$112,000	$149	100
1701 W Stewart St	0.18mi	2/1.0 (+1)	788 (+5%)	7mo	$65,000	$82	73
1318 W Stewart Ave	0.42mi	2/1.0 (+1)	726 (-3%)	7mo	$116,000	$160	64
816 Tracy St	0.12mi	2/1.0 (+1)	832 (+11%)	11mo	$123,000	$148	62
1124 George St	0.45mi	1/1.0	708 (-6%)	13mo	$29,500	$42	59
1310 W Stewart St	0.44mi	2/1.0 (+1)	720 (-4%)	15mo	$126,000	$175	55
1431 Cleveland St	0.72mi	2/1.0 (+1)	762 (+2%)	10mo	$109,000	$143	50
411 Robbins St	0.58mi	1/1.0	848 (+13%)	8mo	$78,000	$92	45
301 N Brooks St	0.73mi	2/1.0 (+1)	740 (-1%)	21mo	$106,000	$143	42

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-5,499
• Equity at exit: $13,270

10-year hold

• IRR: 3.7%
• Equity multiple: 1.26×
• Total profit: $6,598
• Equity at exit: $7,695

Cash invested: $24,920 (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: 162
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $854 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$30 /mo · $363/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $141

Break-even live

Break-even rent $676

Max offer price $89,000

Occupancy floor 79%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-04-14
   status Pending

   Show marketing remark (241 chars)

   * * H & B DUE 4/13 @ 8PM * * Cute & cozy ranch home located on the outskirts of town sitting on over an acre of land! Possible office/nursery! Newer furnace and siding! Detached garage and large shed! All at an incredible price!

2. 2026-04-14
   status Pending 241-char remark

   Show marketing remark (241 chars)

   * * H & B DUE 4/13 @ 8PM * * Cute & cozy ranch home located on the outskirts of town sitting on over an acre of land! Possible office/nursery! Newer furnace and siding! Detached garage and large shed! All at an incredible price!

3. 2026-04-11
   listed $89,000 Active

   Show marketing remark (241 chars)

   * * H & B DUE 4/13 @ 8PM * * Cute & cozy ranch home located on the outskirts of town sitting on over an acre of land! Possible office/nursery! Newer furnace and siding! Detached garage and large shed! All at an incredible price!

4. 2026-04-11
   listed $89,000 Active 241-char remark

   Show marketing remark (241 chars)

   * * H & B DUE 4/13 @ 8PM * * Cute & cozy ranch home located on the outskirts of town sitting on over an acre of land! Possible office/nursery! Newer furnace and siding! Detached garage and large shed! All at an incredible price!

ⓘ 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: $363 · $30/mo
• Projected year-2 tax: $867 · $72/mo
• Expected delta: +$504/yr (+$42/mo · 138.7%)

ⓘ 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 3/10 Moderate 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: $10,249
• − Mortgage interest: −$4,985
• − Property taxes: −$363
• − Insurance: −$445
• − Repairs & maintenance: −$820
• − Management: −$820
• − Depreciation: −$2,589
• Taxable income: $227
• Est. tax owed @ 24.0%: −$54
• After-tax cash flow: $1,634/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

• 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

4 events — show timeline

• 2026-04-14 Pending — REALCOMP
• 2026-04-14 Pending — MiRealSource-MiMLS
• 2026-04-11 Listed $89,000 REALCOMP
• 2026-04-11 Listed $89,000 MiRealSource-MiMLS

Property tax history

-6.1%/yr

Latest (2025): $363 · -62.1% YoY. Source: county tax records.