215 Washington St · Byron, MI 48418

$159,900

3 bd · 1.0 ba · 1,678 sqft · SingleFamily public records · 66 Days on market

Built 1938 0.53 ac lot $95/sqft · 37% below area Est $254k · 37% 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 +19.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.2/10.0
• 1% rule +4.2/10.0
• Schools +3.4/10.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3 bedroom Bungalow in the quaint Village of Byron, corner lot, 2 car garage plus extra garage, 1600 sq ft. , 1st floor primary bedroom. Please no showings before 1 pm.

Key facts

• 0.53 acre lot
• 2 garage spots
• Built 1938

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $184 ($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 $148k (7.7% below list).
• Recommended offer: $148k (7.7% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 1.7% in Byron — 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 66/100 on livability (#410 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: crime D+, amenities F, commute F.
• Byron Area Schools (rural): math 31% / reading 46% proficiency, ranked #215 of 540 in MI (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 29 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.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 31y ago; this cycle's ask has dropped $30k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $124k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,607 (7.7% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 7.67%
• Cash-on-cash: 4.92%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

• ARV (median comp): $253,783
• List price: $159,900
• Delta: -36.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
111 N Ann St	0.07mi	3/1.0	1,550 (-8%)	5mo	$225,000	$145	80
219 S Saginaw St	0.26mi	4/1.5 (+1)	1,690 (+1%)	10mo	$259,900	$154	71
110 W Washington St	0.17mi	3/2.0	1,800 (+7%)	9mo	$250,000	$139	69

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-14,264
• Equity at exit: $23,842

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $2,430
• Equity at exit: $13,825

Cash invested: $44,772 (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 48418

• Home prices YoY: -27.5%
• Active inventory: 29
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,476 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$77 /mo · $927/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $184

Break-even live

Break-even rent $1,244

Max offer price $159,900

Occupancy floor 83%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-07
   statusdays on market $159,900 Pending 66 DOM
2. 2026-06-04
   remarks 210-char remark
3. 2026-06-04
   pricedays on market $159,900 Active 65 DOM
4. 2026-06-02
   days on market $169,900 Active 64 DOM
5. 2026-06-01
   days on market $169,900 Active 63 DOM
6. 2026-05-31
   days on market $169,900 Active 62 DOM
7. 2026-05-31
   days on market $169,900 Active 61 DOM
8. 2026-05-12
   price $169,900 176-char remark

   Show marketing remark (176 chars)

   Charming 3 bedroom Bungalow in the quaint Village of Byron, corner lot, 2 car garage plus extra garage, 1600 sq ft. , 1st floor primary bedroom. Please no showings before 1 pm.

9. 2026-05-12
   price $169,900 176-char remark

   Show marketing remark (176 chars)

   Charming 3 bedroom Bungalow in the quaint Village of Byron, corner lot, 2 car garage plus extra garage, 1600 sq ft. , 1st floor primary bedroom. Please no showings before 1 pm.

10. 2026-04-13
    price $179,900 176-char remark

    Show marketing remark (176 chars)

    Charming 3 bedroom Bungalow in the quaint Village of Byron, corner lot, 2 car garage plus extra garage, 1600 sq ft. , 1st floor primary bedroom. Please no showings before 1 pm.

11. 2026-04-13
    price $179,900 176-char remark

    Show marketing remark (176 chars)

    Charming 3 bedroom Bungalow in the quaint Village of Byron, corner lot, 2 car garage plus extra garage, 1600 sq ft. , 1st floor primary bedroom. Please no showings before 1 pm.

12. 2026-03-31
    listed $189,900 Active 176-char remark

    Show marketing remark (176 chars)

    Charming 3 bedroom Bungalow in the quaint Village of Byron, corner lot, 2 car garage plus extra garage, 1600 sq ft. , 1st floor primary bedroom. Please no showings before 1 pm.

13. 2026-03-31
    listed $189,900 Active 176-char remark

    Show marketing remark (176 chars)

    Charming 3 bedroom Bungalow in the quaint Village of Byron, corner lot, 2 car garage plus extra garage, 1600 sq ft. , 1st floor primary bedroom. Please no showings before 1 pm.

14. 2026-03-30
    historical $189,900 176-char remark

    Show marketing remark (176 chars)

    Charming 3 bedroom Bungalow in the quaint Village of Byron, corner lot, 2 car garage plus extra garage, 1600 sq ft. , 1st floor primary bedroom. Please no showings before 1 pm.

15. 2020-06-23
    soldstatus $124,000
16. 2020-06-23
    soldstatus $124,000
17. 2020-06-01
    soldstatus $124,000
18. 2020-03-10
    status Pending
19. 2020-02-25
    historical
20. 2020-02-25
    historical
21. 2019-11-09
    listed $118,000
22. 2019-11-09
    listed $118,000
23. 2019-11-09
    listed $118,000 Active
24. 2019-11-09
    listed $118,000 Active
25. 2003-10-02
    soldstatus $127,500
26. 2003-10-02
    soldstatus $127,500
27. 2003-10-02
    soldstatus $127,500
28. 2003-06-10
    listed $129,900
29. 2003-06-10
    listed $129,900
30. 2003-06-07
    listed $129,900
31. 1997-06-13
    soldstatus $83,000
32. 1997-06-13
    soldstatus $83,000
33. 1997-03-18
    listed $84,500
34. 1997-03-18
    listed $84,500
35. 1995-07-17
    soldstatus $70,000
36. 1995-06-06
    listed $70,000

ⓘ 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: $927 · $77/mo
• Projected year-2 tax: $1,695 · $141/mo
• Expected delta: +$768/yr (+$64/mo · 82.8%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,713
• − Mortgage interest: −$8,957
• − Property taxes: −$927
• − Insurance: −$800
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − Depreciation: −$4,652
• Taxable loss: −$456
• Est. tax savings @ 24.0%: +$109
• After-tax cash flow: $2,314/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: Byron Area Schools
• NCES district ID: 2607530
• Math proficiency: 31% ▼ -10.00%
• Reading proficiency: 46% ▼ -5.00%
• Median HH income: $58,292
• Composite: 33.99/100
• National rank: #5319
• State rank: #215 of 540 in MI

Livability — Byron

• Score: 66/100
• State rank: #410
• US rank: #11251

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Byron, MI
• Population (ZIP): 4,544

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 (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Romanian 8% Lithuanian 4% Slovak 4%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 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: ▼ -95.15%
• Current HPI: 251.0826
• 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

+142.7% since first listed

29 events — show timeline

• 2026-05-12 Price Changed $169,900 MiRealSource-MiMLS
• 2026-05-12 Price Changed $169,900 REALCOMP
• 2026-04-13 Price Changed $179,900 MiRealSource-MiMLS
• 2026-04-13 Price Changed $179,900 REALCOMP
• 2026-03-31 Listed $189,900 MiRealSource-MiMLS
• 2026-03-31 Listed $189,900 REALCOMP
• 2026-03-30 Coming Soon $189,900 MiRealSource-MiMLS
• 2020-06-23 Sold (Public Records) $124,000 Public Records
• 2020-06-23 Sold (Public Records) $124,000 Public Records
• 2020-06-01 Sold (MLS) $124,000 REALCOMP
• 2020-03-10 Pending — MiRealSource-MiMLS
• 2020-02-25 Listing Removed — MiRealSource-MiMLS
• 2020-02-25 Listing Removed — REALCOMP
• 2019-11-09 Listed $118,000 MiRealSource-MiMLS
• 2019-11-09 Listed $118,000 MiRealSource-MiMLS
• 2019-11-09 Listed $118,000 REALCOMP
• 2019-11-09 Listed $118,000 REALCOMP
• 2003-10-02 Sold (MLS) $127,500 REALCOMP
• 2003-10-02 Sold (MLS) $127,500 REALCOMP
• 2003-10-02 Sold (MLS) $127,500 MiRealSource-MiMLS
• 2003-06-10 Listed $129,900 REALCOMP
• 2003-06-10 Listed $129,900 MiRealSource-MiMLS
• 2003-06-07 Listed $129,900 REALCOMP
• 1997-06-13 Sold (MLS) $83,000 REALCOMP
• 1997-06-13 Sold (MLS) $83,000 REALCOMP
• 1997-03-18 Listed $84,500 REALCOMP
• 1997-03-18 Listed $84,500 REALCOMP
• 1995-07-17 Sold (MLS) $70,000 MiRealSource-MiMLS
• 1995-06-06 Listed $70,000 MiRealSource-MiMLS

Property tax history

-4.3%/yr

Latest (2025): $927 · -57.1% YoY. Source: county tax records.