2627 W M 21 · Owosso, MI 48867

$82,000

0 bd · 2.0 ba · 0 sqft · SingleFamily public records · 227 Days on market

Built 1997 Est $164k · 50% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.9/30.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice modular home in Woods and Fields 55 and up community in Owosso. All appliances stay. Many updates including roof and skylights 2016, dishwasher, refrigerator, garbage disposal 2019. Oversized 2 car carport 2015, and more.

Key facts

• All appliances stay
• Built 1997
• Listed 227 days

Tags

• WOODS AND FIELDS COMMUNITY
• ALL APPLIANCES STAY
• UPDATES INCLUDING ROOF
• UPDATES INCLUDING SKYLIGHTS
• UPDATES INCLUDING DISHWASHER
• UPDATES INCLUDING REFRIGERATOR

What this means for you Summary

Snapshot

• This is a ?-bed/2.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $-51 ($-609/yr) — negative.
• To cash-flow at today's rent, offer at most $75k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $65k (20.4% below list).
• Recommended offer: $65k (20.4% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 4.2% in Owosso — 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 76/100 on livability (#147 in MI, #3,704 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D-, commute F.
• Owosso Public Schools (town): math 21% / reading 33% proficiency, ranked #401 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 162 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 74 units permitted in Shiawassee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $567 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Shiawassee County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($72k) is reasonable based on typical stale-listing flexibility.

Recommended offer $65,308 (20.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.65%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

• ARV (median comp): $163,987
• List price: $82,000
• Delta: -50.00%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3006 W M-21 Rd	0.38mi	3/1.0 (+3)	1,000	7mo	$106,000	$106	45
3260 W M 21 Hwy	0.66mi	3/2.0 (+3)	1,476	15mo	$159,900	$108	29
3370 Simpson Rd	0.69mi	5/2.5 (+5)	3,525	22mo	$425,000	$121	17

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: -20.7%
• Equity multiple: 0.28×
• Total profit: $-16,510
• Equity at exit: $12,226

10-year hold

• IRR: -13.9%
• Equity multiple: 0.19×
• Total profit: $-18,499
• Equity at exit: $7,090

Cash invested: $22,960 (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 48867

• Active inventory: 162
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $653 medium
• Mortgage (P&I): −$430
• Tax est. 1.5%: −$102 /mo · $1,230/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$137
• Net cashflow: $-51

Break-even live

Break-even rent $717

Max offer price $74,656

Occupancy floor —

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1850 Babcock St Owosso, MI	1.0	1.0	—	$698	—	43d	1	0.99mi
219 Cleveland Ave Owosso, MI	1.0	1.0	—	$608	—	43d	1	0.99mi

Listing history 16 events

1. 2026-06-18
   days on market $82,000 Active 227 DOM
2. 2026-06-17
   days on market $82,000 Active 226 DOM
3. 2026-06-16
   days on market $82,000 Active 225 DOM
4. 2026-06-15
   days on market $82,000 Active 224 DOM
5. 2026-06-13
   days on market $82,000 Active 222 DOM
6. 2026-06-12
   days on market $82,000 Active 221 DOM
7. 2026-06-09
   days on market $82,000 Active 218 DOM
8. 2026-06-08
   days on market $82,000 Active 217 DOM
9. 2026-06-07
   days on market $82,000 Active 216 DOM
10. 2026-06-07
    days on market $82,000 Active 215 DOM
11. 2026-06-04
    days on market $82,000 Active 212 DOM
12. 2026-06-02
    days on market $82,000 Active 211 DOM
13. 2026-06-01
    days on market $82,000 Active 210 DOM
14. 2026-05-31
    days on market $82,000 Active 209 DOM
15. 2026-05-31
    days on market $82,000 Active 208 DOM
16. 2025-11-03
    listed $82,000 Active 231-char remark

    Show marketing remark (231 chars)

    Very nice modular home in Woods and Fields 55 and up community in Owosso. All appliances stay. Many updates including roof and skylights 2016, dishwasher, refrigerator, garbage disposal 2019. Oversized 2 car carport 2015, and more.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $7,837
• − Mortgage interest: −$4,593
• − Property taxes: −$1,230
• − Insurance: −$410
• − Repairs & maintenance: −$627
• − Management: −$627
• − Depreciation: −$2,385
• Taxable loss: −$2,036
• Est. tax savings @ 24.0%: +$489
• After-tax cash flow: $-120/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: Owosso Public Schools
• NCES district ID: 2627210
• Math proficiency: 21% ▼ -6.00%
• Reading proficiency: 33% ▲ 1.00%
• Median HH income: $40,656
• Composite: 22.78/100
• National rank: #8025
• State rank: #401 of 540 in MI

Livability — Owosso

• Score: 76/100
• State rank: #147
• US rank: #3704

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 27,399
• Population (ZIP): 27,399

Population outlook (Shiawassee County) Hauer SSP2

• Today (2025): 64,238 people
• By 2030: 61,434 · -4.4%
• By 2040: 55,054 · -14.3%
• By 2050: 48,426 · -24.6%
• By 2075: 35,995 · -44.0%
• By 2100: 26,678 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 6% Lithuanian 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1% Arabic 1%

Political lean MEDSL · Shiawassee

• 2024 margin: Strong R (+23.1) · D 37.7% · R 60.8% · Other 1.6%
• 2008→2024 swing: -31.7pp toward R · 2008: 8.6pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.9 2016: R+19.6 2012: D+3.7 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -234.79%
• Current HPI: 190.5775
• 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

1 event — show timeline

• 2025-11-03 Listed $82,000 ForSaleByOwner.com