2326 Sunset Ln · Madison, MI 49221

$225,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 13 Days on market

Built 1951 0.48 ac lot Est $187k · 20% over

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Why this score? — see what drove the F 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 +16.3/30.0
• DSCR +5.0/10.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this charming 3-bedroom, 1-bath home located in the desirable Airport Subdivision--a neighborhood known for its convenience and welcoming community feel. With 1,080 sq. ft. of well designed living space, this home offers comfort, functionality, and room to grow. Sitting on a large, partially fenced lot, the property provides the perfect blend of privacy and outdoor potential. Whether you're dreaming of a garden, a play area, or space for pets to roam, this yard delivers. Inside, the layout offers bright living spaces, comfortable bedrooms, and a cozy atmosphere ready for your personal touch. This home is ideal for first time buyers, downsizers, or anyone looking for a solid property in a great location. Don't miss your chance to make this Airport Subdivision gem your own.

Key facts

• Partially fenced lot
• Large yard
• Bright living spaces

Tags

• PARTIALLY FENCED LOT
• LARGE YARD
• BRIGHT LIVING SPACES
• COMFORTABLE BEDROOMS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Natural gas connected
• Home design: Ranch-style single-family home; Built in 1951
• Construction: Vinyl siding; Shingle roof; Built in 1951
• Exterior features: Paved road access; Shed(s)

Interior

• Kitchen: Kitchen (approx. 12 x 9); Oven; Range; Refrigerator
• Bedrooms: Primary bedroom (approx. 16 x 12); Bedroom 2 (approx. 13 x 9); Bedroom 3 (approx. 12 x 7)
• Bathrooms: 1 full bathroom (approx. 9 x 9)
• Heating & cooling: Forced air heating; Has heating; Has cooling
• Interior features: Garage door opener; Full basement; 7 total rooms
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/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 $188k (16.6% below list).
• Recommended offer: $188k (16.6% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Adrian School District (town): math 25% / reading 35% proficiency, ranked #370 of 540 in MI (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Prairie Elementary School (math 17% / reading 27%, grade F, #1,035 of 1,397 statewide, top 77%, 224 students, 80% FRL); Springbrook Middle School (math 29% / reading 38%, grade F, #303 of 493 statewide, top 62%, 641 students, 71% FRL); Adrian High School (math 22% / reading 42%, grade F, #405 of 713 statewide, top 59%, 781 students, 63% FRL).
• Market conditions: 212 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 137 units permitted in Lenawee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Lenawee County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,690 (16.6% below list)

Questions for the listing agent

1. Built in 1951 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 0.83% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.33%
• DSCR: 1.10
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $186,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2281 Fairview Dr	0.19mi	3/2.0	1,090 (+1%)	5mo	$192,000	$176	82
2285 Fairview Ave	0.19mi	2/1.0 (-1)	1,145 (+6%)	14mo	$177,400	$155	64
2725 Sharon Dr	0.48mi	3/1.0	1,152 (+7%)	9mo	$220,000	$191	59
437 Oden Way	0.69mi	3/1.0	1,001 (-7%)	1mo	$162,000	$162	55
1227 Sherman St	0.46mi	4/1.0 (+1)	1,178 (+9%)	7mo	$140,000	$119	53
2894 Park Dr	0.63mi	3/1.0	1,008 (-7%)	10mo	$220,000	$218	51
1840 Taylor Dr	0.64mi	3/1.0	1,188 (+10%)	4mo	$210,000	$177	51
2741 Sharon Dr	0.50mi	3/1.0	920 (-15%)	5mo	$158,000	$172	48
1902 Cadmus Rd	0.70mi	3/1.0	960 (-11%)	6mo	$168,000	$175	44
421 S Madison St	0.63mi	3/2.0	1,201 (+11%)	7mo	$192,000	$160	42
1062 Petoskey Ct	0.70mi	4/1.0 (+1)	1,041 (-4%)	17mo	$180,000	$173	42
1103 Petoskey Ct	0.68mi	3/1.0	1,198 (+11%)	10mo	$180,000	$150	42

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: -12.7%
• Equity multiple: 0.54×
• Total profit: $-28,749
• Equity at exit: $33,548

10-year hold

• IRR: -3.7%
• Equity multiple: 0.76×
• Total profit: $-15,359
• Equity at exit: $19,454

Cash invested: $63,000 (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 49221

• Active inventory: 212
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,877 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$87 /mo · $1,039/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$394
• Net cashflow: $122

Break-even live

Break-even rent $1,722

Max offer price $225,000

Occupancy floor 88%

Sensitivity live

Price	-10% $250	-5% $186	+0% $122	+5% $59	+10% $-5
Rent	-10% $-26	-5% $48	+0% $122	+5% $197	+10% $271
Rate	-1.0pp $236	-0.5pp $180	base $122	+0.5pp $64	+1.0pp $5

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1962 W Cadmus Rd Adrian, MI	3.0	2.0	1170	$2,250	$1.92	23d	1	0.72mi
174 Sand Creek Hwy Adrian, MI	2.0	2.0	986	$1,150	$1.17	45d	1	1.39mi

Listing history 10 events

1. 2026-06-21
   days on market $225,000 Active 13 DOM
2. 2026-06-21
   days on market $225,000 Active 12 DOM
3. 2026-06-18
   days on market $225,000 Active 10 DOM
4. 2026-06-17
   days on market $225,000 Active 9 DOM
5. 2026-06-16
   days on market $225,000 Active 8 DOM
6. 2026-06-15
   days on market $225,000 Active 7 DOM
7. 2026-06-13
   days on market $225,000 Active 5 DOM
8. 2026-06-12
   days on market $225,000 Active 4 DOM
9. 2026-06-09
   remarks 699-char remark
10. 2026-06-09
    listed $225,000 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: $1,039 · $87/mo
• Projected year-2 tax: $2,252 · $188/mo
• Expected delta: +$1,213/yr (+$101/mo · 116.7%)

ⓘ 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 · 16 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: $22,523
• − Mortgage interest: −$12,603
• − Property taxes: −$1,039
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,802
• − Management: −$1,802
• − Depreciation: −$6,545
• Taxable loss: −$2,394
• Est. tax savings @ 24.0%: +$575
• After-tax cash flow: $2,044/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: Adrian School District
• NCES district ID: 2601950
• Math proficiency: 25% ▼ -1.00%
• Reading proficiency: 35% ▼ -2.00%
• Median HH income: $41,288
• Composite: 25.33/100
• National rank: #7480
• State rank: #370 of 540 in MI

Livability — Madison

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

Census & demographics

• Population (ZIP): 41,041

Population outlook (Lenawee County) Hauer SSP2

• Today (2025): 95,497 people
• By 2030: 92,722 · -2.9%
• By 2040: 85,641 · -10.3%
• By 2050: 77,971 · -18.4%
• By 2075: 60,043 · -37.1%
• By 2100: 41,468 · -56.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% Arabic 1%

Political lean MEDSL · Lenawee

• 2024 margin: Strong R (+23.0) · D 37.8% · R 60.8% · Other 1.4%
• 2008→2024 swing: -28.1pp toward R · 2008: 5.1pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+19.9 2016: R+21.1 2012: R+1.3 2008: D+5.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -143.64%
• Current HPI: 237.3796
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-08 Listed $225,000 MiRealSource-MiMLS
• 2026-06-08 Listed $225,000 REALCOMP
• 2026-06-08 Listed $225,000 SW Michigan MLS

Property tax history

-2.1%/yr

Latest (2025): $1,039 · -40.8% YoY. Source: county tax records.