201 Grant St · Auburn, MI 48611

$99,200

2 bd · 1.0 ba · 910 sqft · SingleFamily · 156 Days on market

Built 1950 0.25 ac lot $109/sqft · 37% below area Est $157k · 37% under ↓ 17% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sweet two bedroom, one bathroom home on large corner lot in nice area. Spacious two car detached garage, deck. Reserve Auction – NO ACCESS OR VIEWINGS of this property. "As is" sale with no contingencies or inspections. Seller cannot guarantee occupancy. Buyer will be responsible for obtaining possession of the property upon closing. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Redemption period expires 7/8/2026.

Key facts

• Large corner lot
• Deck
• Detached garage

Tags

• LARGE CORNER LOT
• DETACHED GARAGE
• DECK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#210 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: health & safety C-, amenities F, commute F.
• Bay City School District (urban): math 27% / reading 40% proficiency, ranked #317 of 540 in MI (top 59%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Auburn Elementary School (math 37% / reading 42%, grade F, #606 of 1,397 statewide, top 48%, 474 students, 46% FRL); Western Middle School (math 32% / reading 47%, grade F, #215 of 493 statewide, top 45%, 726 students, 36% FRL); Bay City Western High School (math 35% / reading 61%, grade D, #183 of 713 statewide, top 26%, 1,102 students, 29% FRL).
• Market conditions: 29 active listings in the ZIP; 39 units permitted in Bay County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $686 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Bay County population projected at -21% 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 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 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,296 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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 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. 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.
7. 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.
8. 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: 1.61% ✓
• Cap rate: 12.83%
• Cash-on-cash: 23.34%
• DSCR: 2.04
• GRM: 5.2

CMA / ARV

• ARV (median comp): $156,682
• List price: $99,200
• Delta: -36.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
319 Countryview Ln	0.16mi	3/1.0 (+1)	960 (+6%)	11mo	$157,000	$164	69
204 Southlawn Dr	0.48mi	2/1.0	850 (-7%)	21mo	$125,000	$147	49
305 Renshar Dr	0.57mi	3/1.0 (+1)	1,012 (+11%)	5mo	$150,000	$148	45
309 Southlawn Dr	0.54mi	3/1.5 (+1)	1,033 (+14%)	15mo	$182,000	$176	33

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: 16.4%
• Equity multiple: 1.66×
• Total profit: $18,375
• Equity at exit: $14,791

10-year hold

• IRR: 25.0%
• Equity multiple: 3.18×
• Total profit: $60,491
• Equity at exit: $8,577

Cash invested: $27,776 (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 48611

• Active inventory: 29
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,599 medium
• Mortgage (P&I): −$520
• Tax from tax record: −$162 /mo · $1,942/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $540

Break-even live

Break-even rent $916

Max offer price $99,200

Occupancy floor 61%

Sensitivity live

Price	-10% $596	-5% $568	+0% $540	+5% $512	+10% $484
Rent	-10% $414	-5% $477	+0% $540	+5% $603	+10% $666
Rate	-1.0pp $590	-0.5pp $565	base $540	+0.5pp $514	+1.0pp $488

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: $24,800
• Closing costs: $2,976
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $99,200 Active 156 DOM
2. 2026-06-19
   days on market $99,200 Active 154 DOM
3. 2026-06-18
   days on market $99,200 Active 153 DOM
4. 2026-06-17
   days on market $99,200 Active 152 DOM
5. 2026-06-16
   days on market $99,200 Active 151 DOM
6. 2026-06-15
   days on market $99,200 Active 150 DOM
7. 2026-06-14
   days on market $99,200 Active 148 DOM
8. 2026-06-12
   days on market $99,200 Active 147 DOM
9. 2026-06-09
   days on market $99,200 Active 144 DOM
10. 2026-06-08
    days on market $99,200 Active 143 DOM
11. 2026-06-07
    days on market $99,200 Active 142 DOM
12. 2026-06-05
    days on market $99,200 Active 139 DOM
13. 2026-06-03
    days on market $99,200 Active 138 DOM
14. 2026-06-02
    days on market $99,200 Active 137 DOM
15. 2026-06-01
    days on market $99,200 Active 136 DOM
16. 2026-05-31
    days on market $99,200 Active 135 DOM
17. 2026-05-30
    days on market $99,200 Active 134 DOM
18. 2026-01-16
    listed $99,200 Active 610-char remark

    Show marketing remark (623 chars)

    Sweet two bedroom, one bathroom home on large corner lot in nice area. Spacious two car detached garage, deck. Reserve Auction – NO ACCESS OR VIEWINGS of this property. "As is" sale with no contingencies or inspections. Seller cannot guarantee occupancy. Buyer will be responsible for obtaining possession of the property upon closing. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Redemption period expires 7/8/2026.

19. 2026-01-16
    listed $99,200 Active 623-char remark

    Show marketing remark (623 chars)

    Sweet two bedroom, one bathroom home on large corner lot in nice area. Spacious two car detached garage, deck. Reserve Auction – NO ACCESS OR VIEWINGS of this property. "As is" sale with no contingencies or inspections. Seller cannot guarantee occupancy. Buyer will be responsible for obtaining possession of the property upon closing. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Redemption period expires 7/8/2026.

20. 2021-06-28
    soldstatus $120,000

ⓘ 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: $1,942 · $162/mo
• Projected year-2 tax: $1,942 · $162/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 5/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,192
• − Mortgage interest: −$5,557
• − Property taxes: −$1,942
• − Insurance: −$496
• − Repairs & maintenance: −$1,535
• − Management: −$1,535
• − Depreciation: −$2,886
• Taxable income: $5,241
• Est. tax owed @ 24.0%: −$1,258
• After-tax cash flow: $5,224/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: Bay City School District
• NCES district ID: 2604260
• Math proficiency: 27% ▼ -8.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $43,833
• Composite: 28.47/100
• National rank: #6743
• State rank: #317 of 540 in MI

Livability — Auburn

• Score: 73/100
• State rank: #210
• US rank: #5234

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Auburn, MI
• Population (ZIP): 6,013

Population outlook (Bay County) Hauer SSP2

• Today (2025): 101,476 people
• By 2030: 98,152 · -3.3%
• By 2040: 89,711 · -11.6%
• By 2050: 80,614 · -20.6%
• By 2075: 60,544 · -40.3%
• By 2100: 41,603 · -59.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Black 2% Hispanic / Latino 1%
• Common ancestry: Romanian 25% Lithuanian 8% Portuguese 2%
• Foreign-born: 1% · Canada

Political lean MEDSL · Bay

• 2024 margin: R (+14.7) · D 42.0% · R 56.7% · Other 1.3%
• 2008→2024 swing: -30.0pp toward R · 2008: 15.3pp · 2024: -14.7pp
• All cycles: 2024: R+14.7 2020: R+11.6 2016: R+12.6 2012: D+6.0 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.70%
• Current HPI: 180.8023
• 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

-17.3% since first listed

3 events — show timeline

• 2026-01-16 Listed $99,200 REALCOMP
• 2026-01-16 Listed $99,200 MiRealSource-MiMLS
• 2021-06-28 Sold (Public Records) $120,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $1,942 · -19.3% YoY. Source: county tax records.