206-208 N Howell St · Owosso, MI 48867

$119,900

5 bd · 2.0 ba · 2,042 sqft · SingleFamily public records · 183 Days on market

Built 1950 8,712 sqft lot $59/sqft · 6% above area Est $113k · 6% over

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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 +28.0/30.0
• DSCR +9.9/10.0
• 1% rule +7.9/10.0
• ARV discount +4.8/15.0
• 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

Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $371 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: crime D-, commute F, employment D-.
• 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.
• Zoned schools: Central School (math 32% / reading 42%, grade F, #685 of 1,397 statewide, top 51%, 423 students, 48% FRL); Owosso Middle School (math 15% / reading 36%, grade F, #385 of 493 statewide, top 78%, 643 students, 63% FRL); Owosso High School (math 32% / reading 52%, grade F, #264 of 713 statewide, top 41%, 843 students, 61% FRL).
• Market conditions: 166 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 $829 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 183 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago; this cycle's ask has dropped $15k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $120k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 183 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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 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?
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: 1.29% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.27%
• DSCR: 1.59
• GRM: 6.5

CMA / ARV

• ARV (median comp): $113,230
• List price: $119,900
• Delta: 5.89%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 N Elm St	0.06mi	5/3.0	2,101 (+3%)	5mo	$67,000	$32	84
725 River St	0.09mi	5/2.0	1,945 (-5%)	8mo	$134,900	$69	81
615 Clark Ave	0.37mi	4/1.5 (-1)	2,068 (+1%)	0mo	$189,000	$91	73
440 Curwood Dr	0.40mi	4/2.0 (-1)	2,133 (+4%)	8mo	$255,000	$120	62
318 W King St	0.50mi	4/2.0 (-1)	1,990 (-2%)	10mo	$185,000	$93	59
405 W Oliver St	0.29mi	4/1.5 (-1)	1,930 (-6%)	14mo	$164,000	$85	58
309 Goodhue St	0.66mi	4/2.0 (-1)	2,102 (+3%)	2mo	$154,000	$73	57
723 Adams St	0.51mi	4/1.0 (-1)	1,938 (-5%)	3mo	$190,000	$98	56
323 Goodhue St	0.68mi	4/1.5 (-1)	1,927 (-6%)	1mo	$196,700	$102	51
203 E King St	0.67mi	4/2.0 (-1)	1,953 (-4%)	10mo	$224,300	$115	48
1003 Fletcher St	0.53mi	4/2.5 (-1)	1,828 (-10%)	11mo	$126,000	$69	42
636 N Washington St	0.58mi	4/2.5 (-1)	2,348 (+15%)	3mo	$220,000	$94	38

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: 3.3%
• Equity multiple: 1.13×
• Total profit: $4,252
• Equity at exit: $17,877

10-year hold

• IRR: 12.8%
• Equity multiple: 2.02×
• Total profit: $34,290
• Equity at exit: $10,367

Cash invested: $33,572 (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: 166
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,541 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$168 /mo · $2,013/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $371

Break-even live

Break-even rent $1,071

Max offer price $119,900

Occupancy floor 71%

Sensitivity live

Price	-10% $439	-5% $405	+0% $371	+5% $337	+10% $303
Rent	-10% $249	-5% $310	+0% $371	+5% $432	+10% $493
Rate	-1.0pp $432	-0.5pp $402	base $371	+0.5pp $340	+1.0pp $309

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-12
   statusdays on market $119,900 Pending 183 DOM
2. 2026-06-09
   days on market $119,900 Active 182 DOM
3. 2026-06-08
   days on market $119,900 Active 181 DOM
4. 2026-06-07
   days on market $119,900 Active 180 DOM
5. 2026-06-07
   days on market $119,900 Active 179 DOM
6. 2026-06-04
   days on market $119,900 Active 176 DOM
7. 2026-06-02
   days on market $119,900 Active 175 DOM
8. 2026-06-01
   pricedays on market $119,900 Active 174 DOM
9. 2026-05-31
   days on market $123,900 Active 173 DOM
10. 2026-05-31
    days on market $123,900 Active 172 DOM
11. 2026-05-06
    status Active 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

12. 2026-05-06
    status Active 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

13. 2026-03-19
    status Pending 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

14. 2026-03-19
    status Pending 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

15. 2026-03-05
    price $123,900 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

16. 2026-03-05
    price $123,900 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

17. 2026-01-21
    price $124,900 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

18. 2026-01-21
    price $124,900 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

19. 2025-12-15
    price $127,000 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

20. 2025-12-14
    price $127,000 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

21. 2025-11-21
    price $129,999 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

22. 2025-11-21
    price $129,999 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

23. 2025-10-22
    listed $134,999 Active 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

24. 2025-10-22
    listed $134,999 Active 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

25. 2025-10-19
    historical $134,999 622-char remark

    Show marketing remark (622 chars)

    Fully rented side by side duplex walking distance to downtown, entertainment, shopping, restaurants & Shiawassee River. ALL utilities are paid by tenant including the water!! 206 Howell is a three bedroom apartment with one bedroom on main floor which is super convenient. 208 Howell is a two bedroom apartment with both bedrooms upstairs & use of detached garage. Fully fenced rear yard Both apartments have their own entrances, driveways & basements. Spacious rooms, formal dining rooms, original hardwood floors in dining & living rooms. Live in one side and have your tenant pay your mortgage.

26. 2021-03-03
    soldstatus $75,900
27. 2021-03-02
    soldstatus $75,900 Closed
28. 2020-12-18
    status Pending
29. 2020-12-01
    listed $79,900 Active
30. 2011-04-06
    soldstatus $37,000

ⓘ 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: $2,013 · $168/mo
• Projected year-2 tax: $2,013 · $168/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥98°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: $18,497
• − Mortgage interest: −$6,716
• − Property taxes: −$2,013
• − Insurance: −$600
• − Repairs & maintenance: −$1,480
• − Management: −$1,480
• − Depreciation: −$3,488
• Taxable income: $2,721
• Est. tax owed @ 24.0%: −$653
• After-tax cash flow: $3,802/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

• 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

+234.9% since first listed

20 events — show timeline

• 2026-05-06 Relisted — REALCOMP
• 2026-05-06 Relisted — MiRealSource-MiMLS
• 2026-03-19 Pending — REALCOMP
• 2026-03-19 Pending — MiRealSource-MiMLS
• 2026-03-05 Price Changed $123,900 MiRealSource-MiMLS
• 2026-03-05 Price Changed $123,900 REALCOMP
• 2026-01-21 Price Changed $124,900 MiRealSource-MiMLS
• 2026-01-21 Price Changed $124,900 REALCOMP
• 2025-12-15 Price Changed $127,000 MiRealSource-MiMLS
• 2025-12-14 Price Changed $127,000 REALCOMP
• 2025-11-21 Price Changed $129,999 MiRealSource-MiMLS
• 2025-11-21 Price Changed $129,999 REALCOMP
• 2025-10-22 Listed $134,999 REALCOMP
• 2025-10-22 Listed $134,999 MiRealSource-MiMLS
• 2025-10-19 Coming Soon $134,999 MiRealSource-MiMLS
• 2021-03-03 Sold (Public Records) $75,900 Public Records
• 2021-03-02 Sold (MLS) $75,900 MiRealSource-MiMLS
• 2020-12-18 Pending — MiRealSource-MiMLS
• 2020-12-01 Listed $79,900 MiRealSource-MiMLS
• 2011-04-06 Sold (Public Records) $37,000 Public Records

Property tax history

-2.8%/yr

Latest (2025): $2,013 · -42.8% YoY. Source: county tax records.