14540 S Wacousta Rd · Watertown, MI 48837

$120,000

4 bd · 1.0 ba · 1,472 sqft · SingleFamily public records · 7 Days on market

Built 1890 2.50 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A true diamond in the rough home on 2.5 acres in Grand Ledge schools, Property gently slopes to the rear. Burbling creek crosses the back of the property. Restore & renovate the 2 bedroom 1 bath home to potentially 5 bedrooms 2 baths, or build your dream walkout. Home currently is in marginal condition, with 2 current bedrooms, 1 on each level. Den on 2nd floor has been used previously as non-conforming bedroom. Lots of partially finished area on 2nd floor for 2 more BR's & a bath. Large eat-in kitchen & dining. Main floor laundry. Basement is walkout (or drive-in). Heat is by wood stove in living room, or hot water boiler by fuel oil. Don't miss your chance for prime location minutes to I-96 on paved road, easy access to Lansing & GR! Limited showings days & 24 hour notice so plan ahead.

Key facts

• Walkout basement
• 2.5 acres
• Prime location

Tags

• 2.5 ACRES
• BURBLING CREEK
• WALKOUT BASEMENT
• PRIME LOCATION

Property features AI

Exterior

• Parking: Driveway (no attached garage)
• Utilities: Septic tank; Electricity connected; Propane; Electric water heater
• Home design: Traditional style; One-and-one-half story; Entry on side; Front faces south; Waterfront frontage
• Construction: Built in 1890; Wood siding and hardboard exterior; Shingle roof; Stone foundation; Additional structures include shed(s) and a poultry coop
• Exterior features: Deck and porch; Rain gutters; Many trees and wooded areas; Private, rectangular sloped lot with views; Waterfront on a stream; Paved road frontage (county road)

Interior

• Kitchen: Eat-in kitchen (combo kitchen and dining); Free-standing gas range/oven; Range hood; Oven; Refrigerator; Freezer
• Bedrooms: Three bedrooms (primary bedroom located on main level)
• Flooring: Carpet; Hardwood; Linoleum; Tile; Wood
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating; Oil heating; Wood heating and wood stove; No central cooling
• Interior features: Ceiling fans; Eat-in kitchen; Laminate counters; Primary bedroom on the main level; Wood-burning fireplace and wood stove in the living room
• Laundry & utility: Main level laundry room with washer and electric dryer hookups; Washer and dryer included; Electric water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Grand Ledge Public Schools (suburban): math 36% / reading 54% proficiency, ranked #131 of 540 in MI (top 24%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 97 active listings in the ZIP; solid renter incomes; 154 units permitted in Clinton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 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 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1890 — 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. 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.
4. 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.
5. 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: 1.52% ✓
• Cap rate: 12.29%
• Cash-on-cash: 21.41%
• DSCR: 1.95
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 14.0%
• Equity multiple: 1.56×
• Total profit: $18,773
• Equity at exit: $17,892

10-year hold

• IRR: 22.8%
• Equity multiple: 2.95×
• Total profit: $65,654
• Equity at exit: $10,375

Cash invested: $33,600 (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 48837

• Active inventory: 97
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,823 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$161 /mo · $1,933/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $600

Break-even live

Break-even rent $1,064

Max offer price $120,000

Occupancy floor 62%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $120,000 Active 7 DOM
2. 2026-06-17
   days on market $120,000 Active 6 DOM
3. 2026-06-16
   days on market $120,000 Active 5 DOM
4. 2026-06-15
   days on market $120,000 Active 4 DOM
5. 2026-06-14
   days on market $120,000 Active 2 DOM
6. 2026-06-13
   remarks 687-char remark
7. 2026-06-13
   listed $120,000 Active 1 DOM

ⓘ 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: $1,933 · $161/mo
• Projected year-2 tax: $1,933 · $161/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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 14 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: $21,872
• − Mortgage interest: −$6,722
• − Property taxes: −$1,933
• − Insurance: −$600
• − Repairs & maintenance: −$1,750
• − Management: −$1,750
• − Depreciation: −$3,491
• Taxable income: $5,627
• Est. tax owed @ 24.0%: −$1,350
• After-tax cash flow: $5,844/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: Grand Ledge Public Schools
• NCES district ID: 2616410
• Math proficiency: 36% ▼ -16.00%
• Reading proficiency: 54% ▼ -6.00%
• Median HH income: $62,300
• Composite: 39.74/100
• National rank: #3893
• State rank: #131 of 540 in MI

Livability — Watertown

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Wacousta, MI
• County: Eaton County · 52,430 people
• Metro: Lansing-East Lansing, MI
• Population (ZIP): 19,947
• Household income: $96,517
• Rent vs Own: 18.1% rent · 81.9% own
• Severe rent burden: 305.0

Population outlook (Clinton County) Hauer SSP2

• Today (2025): 81,490 people
• By 2030: 82,558 · +1.3%
• By 2040: 82,325 · +1.0%
• By 2050: 79,133 · -2.9%
• By 2075: 65,737 · -19.3%
• By 2100: 51,314 · -37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 7% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 5% Lithuanian 4% Italian 4%
• Foreign-born: 1% · Canada, Vietnam
• Languages at home: 97% English-only · Spanish 2% Vietnamese 1%

Political lean MEDSL · Clinton

• 2024 margin: Lean R (+8.6) · D 44.9% · R 53.5% · Other 1.5%
• 2008→2024 swing: -9.3pp toward R · 2008: 0.7pp · 2024: -8.6pp
• All cycles: 2024: R+8.6 2020: R+6.5 2016: R+12.7 2012: R+6.2 2008: D+0.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -170.22%
• Current HPI: 208.1861
• Rent YoY: —
• Metro: Lansing-East Lansing, MI
• 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

2 events — show timeline

• 2026-06-11 Listed $120,000 REALCOMP
• 2026-06-11 Listed $120,000 Greater Lansing AoR

Property tax history

+2.9%/yr

Latest (2025): $1,933 · +2.8% YoY. Source: county tax records.