411 S Adrian St · Tecumseh, MI 49286

$320,000

4 bd · 2.0 ba · 2,805 sqft · SingleFamily · 14 Days on market

Built 1949 0.53 ac lot Est $317k · at est.

---

Why this score? — see what drove the D 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 +14.4/30.0
• ARV discount +7.1/15.0
• DSCR +4.4/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• 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

This home has been very well loved. .. one owner! Its so much larger than it appears and has so much to offer. The interior is painted a neutral of white, new laminate flooring throughout, wood burning fireplace in the living room with built in shelves and coved ceilings. The windows are all new, new range/oven, refrigerator, and dishwasher, nice breakfast nook, 3 large bedrooms with big closets, hall closet, linen closet, so much storage! The cedar walled basement has its cool mid century bar, a new bar sink too. Lots of new PEX and pvc plumbing, new basement windows. The exterior has been recently sided, new downspouts, new back steps and mini deck completed January 2022. Ever Dry Waterproofing system with battery back up sump and EZ Breathe unit. Warranty to the new owners. Double Lot. Build a garage or small barn, This home is special, it will not last long!

Key facts

• 0.53 acre lot
• Built 1949
• Listed 14 days

Property features AI

Finance

• Other: Property type: Residential; Acreage: 0.53
• Financial info: No investor-specific financial details provided
• HOA & community: No land contract

Exterior

• Parking: Parking details not provided
• Security: No security features specified
• Utilities: Public water; Natural gas; Public sewer (assumed; specific sewer not listed); Electric service (not detailed)
• Home design: Residential single-story home; Built in 1949; Basement present (below-grade finished area)
• Construction: Vinyl exterior; Basement foundation; Year built: 1949
• Exterior features: Vinyl siding; Paved street access; Frontage approximately 65 feet

Interior

• Kitchen: Kitchen on entry level — approx. 16 x 10, laminate flooring; Dining room adjacent to kitchen — approx. 13 x 11, laminate flooring
• Bedrooms: Bedroom 1 (Entry level) — 15 x 12, laminate flooring; Bedroom 2 (Entry level) — 11 x 8, laminate flooring; Bedroom 3 (Entry level) — ~11 wide, laminate flooring; Bedroom 4 (Basement) — 14 x 11, vinyl flooring; Total of 9 rooms
• Flooring: Laminate flooring in most main living areas and bedrooms; Vinyl flooring in basement bedroom and main bathroom
• Bathrooms: 2 full bathrooms; Main bathroom (Entry level) — vinyl floor, approx. 11 x 8; Basement bathroom — laminate floor, approx. 7 x 5
• Heating & cooling: Forced air heating; Natural gas fuel; Gas water heater; Central air conditioning and ceiling fans
• Interior features: Fireplace in the living room and a wood stove; Finished basement
• Laundry & utility: Basement with finished space (laundry/utility location not specified)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $65 ($785/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 $280k (12.5% below list).
• Recommended offer: $280k (12.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.6% 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.
• Zoned schools: Tecumseh Acres North Early Learning Center (303 students, 43% FRL); Tecumseh Middle School (math 33% / reading 41%, grade F, #248 of 493 statewide, top 53%, 793 students, 34% FRL); Tecumseh High School (math 37% / reading 72%, grade C-, #109 of 713 statewide, top 17%, 800 students, 33% FRL).
• Market conditions: 96 active listings in the ZIP; 1 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 $10k 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y ago; this cycle's ask is 52% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $217k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $280,000 (12.5% below list)

Questions for the listing agent

1. Built in 1949 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.88%
• DSCR: 1.04
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $316,965
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
234 Park St	0.19mi	4/2.5	2,581 (-8%)	0mo	$317,000	$123	75
219 Park St	0.25mi	3/1.5 (-1)	2,726 (-3%)	10mo	$300,000	$110	69
705 W Chicago Blvd	0.38mi	5/2.0 (+1)	2,588 (-8%)	3mo	$240,000	$93	62
206 Park St	0.26mi	3/1.5 (-1)	2,541 (-9%)	6mo	$332,500	$131	60
203 Adrian St	0.23mi	3/1.5 (-1)	2,938 (+5%)	24mo	$199,900	$68	54
6988 Green Hwy	0.49mi	5/2.0 (+1)	2,408 (-14%)	4mo	$280,000	$116	45
514 Tilton Dr	0.54mi	4/2.5	2,568 (-8%)	18mo	$290,000	$113	44
1502 Southwick Dr	0.67mi	4/1.5	2,514 (-10%)	6mo	$268,000	$107	44
215 Park St	0.26mi	3/3.0 (-1)	2,384 (-15%)	14mo	$325,000	$136	42
1405 Sauk Trl	0.60mi	3/3.0 (-1)	2,603 (-7%)	13mo	$315,000	$121	40
212 E Kilbuck St	0.67mi	5/2.0 (+1)	2,497 (-11%)	9mo	$260,000	$104	38
118 S Evans St	0.60mi	3/3.5 (-1)	2,454 (-12%)	9mo	$228,000	$93	32

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-47,686
• Equity at exit: $47,713

10-year hold

• IRR: -6.3%
• Equity multiple: 0.60×
• Total profit: $-36,151
• Equity at exit: $27,668

Cash invested: $89,600 (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 49286

• Home prices YoY: -32.9%
• Active inventory: 96
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$335 /mo · $4,022/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $65

Break-even live

Break-even rent $2,717

Max offer price $320,000

Occupancy floor 93%

Sensitivity live

Price	-10% $247	-5% $156	+0% $65	+5% $-25	+10% $-116
Rent	-10% $-156	-5% $-45	+0% $65	+5% $176	+10% $287
Rate	-1.0pp $227	-0.5pp $147	base $65	+0.5pp $-18	+1.0pp $-102

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 W Shawnee St Tecumseh, MI	5.0	2.0	2864	$2,800	$0.98	15d	1	0.65mi

Listing history 20 events

1. 2026-06-10
   status $320,000 Pending 14 DOM
2. 2026-06-09
   days on market $320,000 Active Under Contract 14 DOM
3. 2026-06-08
   days on market $320,000 Active Under Contract 13 DOM
4. 2026-06-07
   days on market $320,000 Active Under Contract 12 DOM
5. 2026-06-05
   days on market $320,000 Active Under Contract 9 DOM
6. 2026-06-03
   statusdays on market $320,000 Active Under Contract 8 DOM
7. 2026-06-02
   days on market $320,000 Active 7 DOM
8. 2026-06-01
   days on market $320,000 Active 6 DOM
9. 2026-05-31
   days on market $320,000 Active 5 DOM
10. 2026-05-30
    days on market $320,000 Active 4 DOM
11. 2026-05-25
    historical $320,000
12. 2022-04-14
    soldstatus $217,000
13. 2022-04-12
    soldstatus $217,000 Sold 874-char remark

    Show marketing remark (874 chars)

    This home has been very well loved. .. one owner! Its so much larger than it appears and has so much to offer. The interior is painted a neutral of white, new laminate flooring throughout, wood burning fireplace in the living room with built in shelves and coved ceilings. The windows are all new, new range/oven, refrigerator, and dishwasher, nice breakfast nook, 3 large bedrooms with big closets, hall closet, linen closet, so much storage! The cedar walled basement has its cool mid century bar, a new bar sink too. Lots of new PEX and pvc plumbing, new basement windows. The exterior has been recently sided, new downspouts, new back steps and mini deck completed January 2022. Ever Dry Waterproofing system with battery back up sump and EZ Breathe unit. Warranty to the new owners. Double Lot. Build a garage or small barn, This home is special, it will not last long!

14. 2022-04-12
    soldstatus $217,000 Closed

    Show marketing remark (874 chars)

    This home has been very well loved. .. one owner! Its so much larger than it appears and has so much to offer. The interior is painted a neutral of white, new laminate flooring throughout, wood burning fireplace in the living room with built in shelves and coved ceilings. The windows are all new, new range/oven, refrigerator, and dishwasher, nice breakfast nook, 3 large bedrooms with big closets, hall closet, linen closet, so much storage! The cedar walled basement has its cool mid century bar, a new bar sink too. Lots of new PEX and pvc plumbing, new basement windows. The exterior has been recently sided, new downspouts, new back steps and mini deck completed January 2022. Ever Dry Waterproofing system with battery back up sump and EZ Breathe unit. Warranty to the new owners. Double Lot. Build a garage or small barn, This home is special, it will not last long!

15. 2022-04-09
    status Pending 874-char remark

    Show marketing remark (874 chars)

    This home has been very well loved. .. one owner! Its so much larger than it appears and has so much to offer. The interior is painted a neutral of white, new laminate flooring throughout, wood burning fireplace in the living room with built in shelves and coved ceilings. The windows are all new, new range/oven, refrigerator, and dishwasher, nice breakfast nook, 3 large bedrooms with big closets, hall closet, linen closet, so much storage! The cedar walled basement has its cool mid century bar, a new bar sink too. Lots of new PEX and pvc plumbing, new basement windows. The exterior has been recently sided, new downspouts, new back steps and mini deck completed January 2022. Ever Dry Waterproofing system with battery back up sump and EZ Breathe unit. Warranty to the new owners. Double Lot. Build a garage or small barn, This home is special, it will not last long!

16. 2022-04-08
    status Pending
17. 2022-03-02
    historical Contingent - Continue To Show 874-char remark

    Show marketing remark (874 chars)

    This home has been very well loved. .. one owner! Its so much larger than it appears and has so much to offer. The interior is painted a neutral of white, new laminate flooring throughout, wood burning fireplace in the living room with built in shelves and coved ceilings. The windows are all new, new range/oven, refrigerator, and dishwasher, nice breakfast nook, 3 large bedrooms with big closets, hall closet, linen closet, so much storage! The cedar walled basement has its cool mid century bar, a new bar sink too. Lots of new PEX and pvc plumbing, new basement windows. The exterior has been recently sided, new downspouts, new back steps and mini deck completed January 2022. Ever Dry Waterproofing system with battery back up sump and EZ Breathe unit. Warranty to the new owners. Double Lot. Build a garage or small barn, This home is special, it will not last long!

18. 2022-03-02
    historical Keep Showing-Contgcy Appl

    Show marketing remark (874 chars)

    This home has been very well loved. .. one owner! Its so much larger than it appears and has so much to offer. The interior is painted a neutral of white, new laminate flooring throughout, wood burning fireplace in the living room with built in shelves and coved ceilings. The windows are all new, new range/oven, refrigerator, and dishwasher, nice breakfast nook, 3 large bedrooms with big closets, hall closet, linen closet, so much storage! The cedar walled basement has its cool mid century bar, a new bar sink too. Lots of new PEX and pvc plumbing, new basement windows. The exterior has been recently sided, new downspouts, new back steps and mini deck completed January 2022. Ever Dry Waterproofing system with battery back up sump and EZ Breathe unit. Warranty to the new owners. Double Lot. Build a garage or small barn, This home is special, it will not last long!

19. 2022-02-27
    listed $209,900 Active 874-char remark

    Show marketing remark (874 chars)

    This home has been very well loved. .. one owner! Its so much larger than it appears and has so much to offer. The interior is painted a neutral of white, new laminate flooring throughout, wood burning fireplace in the living room with built in shelves and coved ceilings. The windows are all new, new range/oven, refrigerator, and dishwasher, nice breakfast nook, 3 large bedrooms with big closets, hall closet, linen closet, so much storage! The cedar walled basement has its cool mid century bar, a new bar sink too. Lots of new PEX and pvc plumbing, new basement windows. The exterior has been recently sided, new downspouts, new back steps and mini deck completed January 2022. Ever Dry Waterproofing system with battery back up sump and EZ Breathe unit. Warranty to the new owners. Double Lot. Build a garage or small barn, This home is special, it will not last long!

20. 2022-02-27
    listed $209,900 Active

    Show marketing remark (874 chars)

    This home has been very well loved. .. one owner! Its so much larger than it appears and has so much to offer. The interior is painted a neutral of white, new laminate flooring throughout, wood burning fireplace in the living room with built in shelves and coved ceilings. The windows are all new, new range/oven, refrigerator, and dishwasher, nice breakfast nook, 3 large bedrooms with big closets, hall closet, linen closet, so much storage! The cedar walled basement has its cool mid century bar, a new bar sink too. Lots of new PEX and pvc plumbing, new basement windows. The exterior has been recently sided, new downspouts, new back steps and mini deck completed January 2022. Ever Dry Waterproofing system with battery back up sump and EZ Breathe unit. Warranty to the new owners. Double Lot. Build a garage or small barn, This home is special, it will not last long!

ⓘ 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: $4,022 · $335/mo
• Projected year-2 tax: $4,475 · $373/mo
• Expected delta: +$453/yr (+$38/mo · 11.3%)

ⓘ 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: $33,600
• − Mortgage interest: −$17,925
• − Property taxes: −$4,022
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − Depreciation: −$9,309
• Taxable loss: −$4,632
• Est. tax savings @ 24.0%: +$1,112
• After-tax cash flow: $1,896/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

+52.5% since first listed

10 events — show timeline

• 2026-05-25 Coming Soon $320,000 MiRealSource-MiMLS
• 2022-04-14 Sold (Public Records) $217,000 Public Records
• 2022-04-12 Sold (MLS) $217,000 MiRealSource-MiMLS
• 2022-04-12 Sold (MLS) $217,000 REALCOMP
• 2022-04-09 Pending — REALCOMP
• 2022-04-08 Pending — MiRealSource-MiMLS
• 2022-03-02 Contingent — REALCOMP
• 2022-03-02 Contingent — MiRealSource-MiMLS
• 2022-02-27 Listed $209,900 MiRealSource-MiMLS
• 2022-02-27 Listed $209,900 REALCOMP

Property tax history

+6.8%/yr

Latest (2025): $4,022 · -7.2% YoY. Source: county tax records.