211-213 N Ball St · Owosso, MI 48867

$175,000

4 bd · 3.0 ba · 4,356 sqft · MultiFamily · 243 Days on market

Built 1900 Good condition 3,485 sqft lot $40/sqft · at area comps Est $173k · at est. ↓ 12% 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 +28.3/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.0/15.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

Key facts

• Dog grooming salon
• Private offices
• Lobby area

Tags

• COMMERCIAL STOREFRONT
• LOBBY AREA
• PRIVATE OFFICES
• DOG GROOMING SALON

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $560 ($7k/yr) — positive. Per door: $280/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 $1k of loan paydown is wiped out by about $5k 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 $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 243 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $24k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 243 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.28% ✓
• Cap rate: 10.13%
• Cash-on-cash: 13.72%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (median comp): $172,910
• List price: $175,000
• Delta: 1.21%
• Verdict: FAIR
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.9%
• Equity multiple: 1.15×
• Total profit: $7,357
• Equity at exit: $26,093

10-year hold

• IRR: 13.4%
• Equity multiple: 2.07×
• Total profit: $52,487
• Equity at exit: $15,131

Cash invested: $49,000 (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: 13.0×

Monthly cashflow live

• Estimated rent: $2,240 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $560

Break-even live

Break-even rent $1,531

Max offer price $175,000

Occupancy floor 70%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$2,240
Total (2 units)			$2,240

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-18
   days on market $175,000 Active 243 DOM
2. 2026-06-17
   days on market $175,000 Active 242 DOM
3. 2026-06-16
   days on market $175,000 Active 241 DOM
4. 2026-06-15
   days on market $175,000 Active 240 DOM
5. 2026-06-13
   days on market $175,000 Active 238 DOM
6. 2026-06-12
   days on market $175,000 Active 237 DOM
7. 2026-06-09
   days on market $175,000 Active 234 DOM
8. 2026-06-08
   days on market $175,000 Active 233 DOM
9. 2026-06-07
   days on market $175,000 Active 232 DOM
10. 2026-06-07
    days on market $175,000 Active 231 DOM
11. 2026-06-04
    days on market $175,000 Active 228 DOM
12. 2026-06-02
    days on market $175,000 Active 227 DOM
13. 2026-06-01
    days on market $175,000 Active 226 DOM
14. 2026-05-31
    days on market $175,000 Active 225 DOM
15. 2026-05-31
    days on market $175,000 Active 224 DOM
16. 2026-03-05
    status Active 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

17. 2026-03-05
    status Active 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

18. 2026-02-21
    status Pending 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

19. 2026-02-21
    status Pending 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

20. 2026-01-18
    price $175,000 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

21. 2026-01-17
    price $175,000 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

22. 2025-12-09
    price $175,000
23. 2025-11-19
    price $179,900 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

24. 2025-11-19
    price $179,900

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

25. 2025-11-18
    price $179,900 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

26. 2025-11-05
    price $189,900 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

27. 2025-11-05
    price $189,900

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

28. 2025-11-05
    price $189,900 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

29. 2025-10-04
    listed $199,000 Active 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

30. 2025-10-04
    listed $199,000 Active 340-char remark

    Show marketing remark (340 chars)

    LAND CONTRACT CONSIDERED WITH 20% DOWN! Investment Property! 4 units WITH (2) two-bedroom apartments, and (2) commercial units. Gross rents $2,375 per month. Rents could be higher. Central air only for main level #211. Tenants are month to month. Both properties are rental certified by the city to July 2028. Two parcels included in sale.

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

Taxation est. · year 1

• Rental income: $26,880
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$2,150
• − Management: −$2,150
• − Depreciation: −$5,091
• Taxable income: $4,186
• Est. tax owed @ 24.0%: −$1,005
• After-tax cash flow: $5,718/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 · 11 photos

Good 75/100 Cosmetic rehab

This multi-family property is in good condition with cosmetic updates needed. It offers a good investment opportunity with rental potential.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and property value.
• Rental Replace HVAC filters — Improves air quality and tenant satisfaction.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and property value. ↑
• Rental Replace HVAC filters — Improves air quality and tenant satisfaction. ↑

ⓘ 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: 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

• Census place: Owosso, MI
• 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

-12.1% since first listed

15 events — show timeline

• 2026-03-05 Relisted — REALCOMP
• 2026-03-05 Relisted — MiRealSource-MiMLS
• 2026-02-21 Pending — REALCOMP
• 2026-02-21 Pending — MiRealSource-MiMLS
• 2026-01-18 Price Changed $175,000 MiRealSource-MiMLS
• 2026-01-17 Price Changed $175,000 REALCOMP
• 2025-12-09 Price Changed $175,000 MiRealSource-MiMLS
• 2025-11-19 Price Changed $179,900 MiRealSource-MiMLS
• 2025-11-19 Price Changed $179,900 MiRealSource-MiMLS
• 2025-11-18 Price Changed $179,900 REALCOMP
• 2025-11-05 Price Changed $189,900 MiRealSource-MiMLS
• 2025-11-05 Price Changed $189,900 MiRealSource-MiMLS
• 2025-11-05 Price Changed $189,900 REALCOMP
• 2025-10-04 Listed $199,000 MiRealSource-MiMLS
• 2025-10-04 Listed $199,000 REALCOMP