00000 E Howell Rd

Webberville, MI 48892

$79,900B-

1 bd · 1.5 ba · 3,000 sqft · Built 1974 · SingleFamily · Pending · 184 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,083/mo
• Mortgage (P&I): −$419
• Tax + insurance: −$133
• HOA: −$0
• Vac / Maint / Mgmt: −$227
• Net cashflow: $303/mo
• Annual: $3,641/yr
• Cap rate: 10.85%
• Cash-on-cash: 16.28%
• DSCR: 1.72
• 1% rule: 1.36%
• Cash to close: $22,372

Investor read

• This is a 1-bed/1.5-bath single-family listed at $80k.
• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• It's been on market 184 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#387 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• Webberville Community Schools (town): math 24% / reading 42% proficiency, ranked #300 of 540 in MI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Webberville Elementary School (math 37% / reading 52%, grade F, #484 of 1,397 statewide, top 38%, 207 students, 65% FRL); Webberville Middle School (math 17% / reading 32%, grade F, #388 of 493 statewide, top 80%, 82 students, 55% FRL); Webberville High School (math 15% / reading 34%, grade F, #476 of 713 statewide, top 67%, 164 students, 48% FRL) — zoned schools average 56% FRL vs 37% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 23 active listings in the ZIP; 350 units permitted in Ingham County in 2024 (186 in 5+ unit buildings).
• Ingham County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $20k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~8 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 184 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.