413 W Pottawatamie St · Tecumseh, MI 49286

$199,000

3 bd · 1.0 ba · 1,848 sqft · SingleFamily · 234 Days on market

Built 1880 10,454 sqft lot $108/sqft · 17% below area Est $240k · 17% under

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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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.5/10.0
• Livability +3.9/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

Key facts

• Newer windows
• Two story home
• 0.24 acre lot

Tags

• TWO STORY HOME
• NEWER WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 3.3% in Tecumseh — 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 78/100 on livability (#103 in MI, #2,459 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Tecumseh Public Schools (town): math 34% / reading 48% proficiency, ranked #181 of 540 in MI (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 96 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k 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

• It's been on market 234 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 14y ago; this cycle's ask has dropped $46k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $199k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 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 1880 — 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: 1.05% ✓
• Cap rate: 8.11%
• Cash-on-cash: 6.47%
• DSCR: 1.29
• GRM: 8.0

CMA / ARV

• ARV (median comp): $239,764
• List price: $199,000
• Delta: -17.00%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
504 Spafford St	0.49mi	3/1.0	1,854 (+0%)	5mo	$145,257	$78	72
224 Maple St	0.41mi	3/1.5	1,768 (-4%)	5mo	$240,000	$136	68
301 W Shawnee St	0.31mi	3/2.0	1,998 (+8%)	6mo	$300,000	$150	63
314 W Logan St	0.18mi	4/1.5 (+1)	1,645 (-11%)	7mo	$234,000	$142	61
211 Pine St	0.50mi	3/1.5	1,649 (-11%)	2mo	$249,000	$151	55
410 E Pottawatamie St	0.63mi	3/2.0	1,728 (-6%)	1mo	$231,000	$134	55
405 N Union St	0.44mi	3/2.0	2,056 (+11%)	3mo	$455,000	$221	54
110 W Shawnee St	0.37mi	3/1.0	1,588 (-14%)	10mo	$235,000	$148	51
219 Chippewa St	0.50mi	4/2.0 (+1)	1,740 (-6%)	10mo	$319,900	$184	50
510 E Logan St	0.74mi	3/2.0	1,736 (-6%)	5mo	$252,000	$145	47
416 E Logan St	0.67mi	4/1.0 (+1)	2,124 (+15%)	6mo	$133,000	$63	34
12 S Occidental Hwy	0.68mi	3/2.0	1,596 (-14%)	9mo	$208,000	$130	34

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: -6.3%
• Equity multiple: 0.77×
• Total profit: $-13,088
• Equity at exit: $29,672

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $13,309
• Equity at exit: $17,206

Cash invested: $55,720 (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 49286

• Home prices YoY: -32.9%
• Active inventory: 96
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,084 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$219 /mo · $2,629/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $301

Break-even live

Break-even rent $1,703

Max offer price $199,000

Occupancy floor 81%

Sensitivity live

Price	-10% $413	-5% $357	+0% $301	+5% $244	+10% $188
Rent	-10% $136	-5% $218	+0% $301	+5% $383	+10% $465
Rate	-1.0pp $401	-0.5pp $351	base $301	+0.5pp $249	+1.0pp $197

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
603 Nokomis St Tecumseh, MI	3.0	2.0	1620	$2,500	$1.54	44d	1	1.04mi
9103 N Union St #174 Tecumseh, MI	3.0	2.0	1344	$1,903	$1.42	14d	1	1.26mi
9103 N Union St #165 Tecumseh, MI	3.0	2.0	1248	$1,848	$1.48	14d	1	1.26mi
9115 N Union St Tecumseh, MI	3.0	2.0	1408	$1,876	$1.33	14d	4	1.32mi

Listing history 48 events

1. 2026-06-21
   days on market $199,000 Active 234 DOM
2. 2026-06-18
   days on market $199,000 Active 231 DOM
3. 2026-06-17
   days on market $199,000 Active 230 DOM
4. 2026-06-16
   days on market $199,000 Active 229 DOM
5. 2026-06-15
   days on market $199,000 Active 228 DOM
6. 2026-06-14
   days on market $199,000 Active 226 DOM
7. 2026-06-13
   days on market $199,000 Active 225 DOM
8. 2026-06-10
   days on market $199,000 Active 223 DOM
9. 2026-06-09
   days on market $199,000 Active 222 DOM
10. 2026-06-08
    days on market $199,000 Active 221 DOM
11. 2026-06-07
    days on market $199,000 Active 220 DOM
12. 2026-06-05
    days on market $199,000 Active 217 DOM
13. 2026-06-03
    days on market $199,000 Active 216 DOM
14. 2026-06-02
    days on market $199,000 Active 215 DOM
15. 2026-06-01
    days on market $199,000 Active 214 DOM
16. 2026-05-31
    days on market $199,000 Active 213 DOM
17. 2026-05-30
    days on market $199,000 Active 212 DOM
18. 2026-05-15
    price $199,000 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

19. 2026-05-15
    price $199,000 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

20. 2026-05-01
    status Active 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

21. 2026-05-01
    status Active 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

22. 2026-05-01
    historical 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

23. 2026-05-01
    historical 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

24. 2026-03-17
    price $208,000 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

25. 2026-03-16
    price $208,000 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

26. 2025-12-23
    price $222,500 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

27. 2025-12-22
    price $222,500 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

28. 2025-11-27
    price $230,000 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

29. 2025-11-26
    price $230,000 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

30. 2025-10-30
    listed $245,000 Active 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

31. 2025-10-30
    listed $245,000 Active 401-char remark

    Show marketing remark (401 chars)

    3 bedroom, 1 bathroom home located just a few blocks from downtown Tecumseh. Shops, restaurants, and festivals only a blocks away from your next home. Appliances, and carpet new in 2021, walk in shower built 2023, new water heater 2024, new doors 2024, and so many more improvements. Fenced in backyard, and attached 2 car garage are an additional bonus to this 1800+ square ft home. Motivated Seller.

32. 2021-07-13
    historical
33. 2021-05-12
    status Pending
34. 2021-05-12
    status Pending
35. 2021-05-12
    historical
36. 2021-05-10
    listed $159,900 Active
37. 2021-05-10
    listed $159,900 Active
38. 2019-09-24
    soldstatus $80,000
39. 2013-12-10
    soldstatus $72,000
40. 2013-12-07
    historical
41. 2013-12-06
    soldstatus $72,000
42. 2013-12-06
    soldstatus $72,000
43. 2013-07-18
    listed $78,900
44. 2013-07-18
    listed $78,900
45. 2013-07-05
    historical
46. 2013-07-05
    historical
47. 2012-05-08
    listed $79,900
48. 2012-05-08
    listed $79,900

ⓘ 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: $2,629 · $219/mo
• Projected year-2 tax: $2,847 · $237/mo
• Expected delta: +$218/yr (+$18/mo · 8.3%)

ⓘ 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 ≥99°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,006
• − Mortgage interest: −$11,147
• − Property taxes: −$2,629
• − Insurance: −$995
• − Repairs & maintenance: −$2,000
• − Management: −$2,000
• − Depreciation: −$5,789
• Taxable income: $444
• Est. tax owed @ 24.0%: −$107
• After-tax cash flow: $3,501/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: Tecumseh Public Schools
• NCES district ID: 2633720
• Math proficiency: 34% ▼ -5.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $58,026
• Composite: 36.04/100
• National rank: #4775
• State rank: #181 of 540 in MI

Livability — Tecumseh

• Score: 78/100
• State rank: #103
• US rank: #2459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tecumseh, MI
• City population: 14,331
• Population (ZIP): 14,331

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 (87%)
• Race & ethnicity: White 87% Two or more races 8% Hispanic / Latino 7% Black 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -114.90%
• Current HPI: 234.4935
• 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

+149.1% since first listed

31 events — show timeline

• 2026-05-15 Price Changed $199,000 MiRealSource-MiMLS
• 2026-05-15 Price Changed $199,000 REALCOMP
• 2026-05-01 Relisted — REALCOMP
• 2026-05-01 Relisted — MiRealSource-MiMLS
• 2026-05-01 Listing Removed — REALCOMP
• 2026-05-01 Listing Removed — MiRealSource-MiMLS
• 2026-03-17 Price Changed $208,000 MiRealSource-MiMLS
• 2026-03-16 Price Changed $208,000 REALCOMP
• 2025-12-23 Price Changed $222,500 MiRealSource-MiMLS
• 2025-12-22 Price Changed $222,500 REALCOMP
• 2025-11-27 Price Changed $230,000 MiRealSource-MiMLS
• 2025-11-26 Price Changed $230,000 REALCOMP
• 2025-10-30 Listed $245,000 REALCOMP
• 2025-10-30 Listed $245,000 MiRealSource-MiMLS
• 2021-07-13 Listing Removed — REALCOMP
• 2021-05-12 Pending — REALCOMP
• 2021-05-12 Pending — MiRealSource-MiMLS
• 2021-05-12 Listing Removed — MiRealSource-MiMLS
• 2021-05-10 Listed $159,900 MiRealSource-MiMLS
• 2021-05-10 Listed $159,900 REALCOMP
• 2019-09-24 Sold (Public Records) $80,000 Public Records
• 2013-12-10 Sold (Public Records) $72,000 Public Records
• 2013-12-07 Listing Removed — MiRealSource-MiMLS
• 2013-12-06 Sold (MLS) $72,000 REALCOMP
• 2013-12-06 Sold (MLS) $72,000 MiRealSource-MiMLS
• 2013-07-18 Listed $78,900 REALCOMP
• 2013-07-18 Listed $78,900 MiRealSource-MiMLS
• 2013-07-05 Listing Removed — REALCOMP
• 2013-07-05 Listing Removed — MiRealSource-MiMLS
• 2012-05-08 Listed $79,900 REALCOMP
• 2012-05-08 Listed $79,900 MiRealSource-MiMLS

Property tax history

+2.7%/yr

Latest (2025): $2,629 · -7.2% YoY. Source: county tax records.