1535 S M-52 · Owosso, MI 48867

$100,000

4 bd · 2.0 ba · 1,680 sqft · SingleFamily · 22 Days on market

Built 1950 2.84 ac lot

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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 +24.1/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Livability +3.8/5.0
• 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

This 4-bed, 2-bath home on 3 acres is an investor's dream or opportunity for a handy homeowner. ARV is at least double the list price. The first floor has a living room, kitchen, dining room, laundry/mudroom, 2 bedrooms, and 2 full bathrooms. Upstairs are two more bedrooms. Updates: furnace (2022), water heater (2022), water filtration system (2022), 200-amp electrical service (2015), and garbage disposal (2025). What's left is all cosmetics! Appliances stay, including the refrigerator, gas stove, disposal, washer, and dryer. The wood-burning stove is operational. Large pole barn with attached 1-car garage. Sold "as is" as the seller will not make any repairs or price adjustments after the inspection or appraisal. Seller has a conformance letter for the well. Book showings in SentriKey.

Key facts

• New furnace
• New water heater
• Large pole barn

Tags

• NEW FURNACE
• NEW WATER HEATER
• NEW WATER FILTRATION SYSTEM
• NEW ELECTRICAL SERVICE
• OPERATIONAL WOOD-BURNING STOVE
• LARGE POLE BARN

Property features AI

Finance

• Other: Lot size approximately 2.84 acres (dimensions ~261' x 473'); Living area listed as 1,680

Exterior

• Parking: Detached parking and driveway; Additional parking (total of 45 garage spaces noted, detached; no attached garage)
• Utilities: 200+ amp electric service; Public sewer
• Home design: Bungalow; One-and-one-half levels; Built in 1950; Front faces northwest; Road frontage on county and state roads
• Construction: Brick and wood siding exterior; Shingle roof; Block foundation; Pole barn on property
• Exterior features: Fire pit; Front and back yard; Level lot with many trees; Asphalt road frontage

Interior

• Kitchen: Kitchen (appliances include disposal)
• Bedrooms: 4 bedrooms (includes Primary Bedroom)
• Flooring: Hardwood; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced-air heating (natural gas); No cooling/air conditioning
• Interior features: Disposal; Full basement with walk-up access and sump pump
• Laundry & utility: Main-level laundry room with washer and electric dryer hookups

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 1 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 $691 of loan paydown is wiped out by about $3k 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 22 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago 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.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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 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?
4. 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?
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: 1.00% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.49%
• DSCR: 1.38
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $204,960
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1648 S M 52	0.22mi	3/1.5 (-1)	1,796 (+7%)	2mo	$268,000	$149	69
1229 Herman St	0.63mi	3/2.0 (-1)	1,664 (-1%)	11mo	$137,000	$82	55
1301 W South St	0.53mi	3/2.0 (-1)	1,512 (-10%)	4mo	$85,000	$56	51
965 W Dewey Rd	0.65mi	4/2.0	1,770 (+5%)	13mo	$232,000	$131	50
1510 S Chipman St	0.47mi	3/1.0 (-1)	1,538 (-8%)	7mo	$188,000	$122	49
1131 S Shiawassee St	0.68mi	3/1.0 (-1)	1,764 (+5%)	3mo	$145,000	$82	49
1010 S Pearce St	0.74mi	3/1.5 (-1)	1,616 (-4%)	10mo	$215,000	$133	43
1204 Hiram St	0.57mi	3/2.0 (-1)	1,856 (+10%)	13mo	$187,000	$101	40
1880 S M-52 Rd	0.70mi	3/2.0 (-1)	1,536 (-9%)	11mo	$265,000	$173	39
1860 S M-52 Hwy	0.67mi	3/1.5 (-1)	1,920 (+14%)	2mo	$233,000	$121	36

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: -3.5%
• Equity multiple: 0.87×
• Total profit: $-3,630
• Equity at exit: $14,910

10-year hold

• IRR: 6.2%
• Equity multiple: 1.46×
• Total profit: $12,903
• Equity at exit: $8,646

Cash invested: $28,000 (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 48867

• Active inventory: 162
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$26 /mo · $309/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $198

Break-even live

Break-even rent $749

Max offer price $100,000

Occupancy floor 75%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1800 Candlewick Dr Owosso, MI	3.0	2.0	1056	$1,000	$0.95	13d	1	0.45mi

Listing history 19 events

1. 2026-06-18
   days on market $100,000 Active 22 DOM
2. 2026-06-17
   days on market $100,000 Active 21 DOM
3. 2026-06-16
   days on market $100,000 Active 20 DOM
4. 2026-06-15
   days on market $100,000 Active 19 DOM
5. 2026-06-13
   days on market $100,000 Active 17 DOM
6. 2026-06-12
   days on market $100,000 Active 16 DOM
7. 2026-06-09
   days on market $100,000 Active 13 DOM
8. 2026-06-08
   days on market $100,000 Active 12 DOM
9. 2026-06-07
   days on market $100,000 Active 11 DOM
10. 2026-06-07
    days on market $100,000 Active 10 DOM
11. 2026-06-04
    days on market $100,000 Active 7 DOM
12. 2026-06-02
    days on market $100,000 Active 6 DOM
13. 2026-06-01
    days on market $100,000 Active 5 DOM
14. 2026-05-31
    days on market $100,000 Active 4 DOM
15. 2026-05-31
    days on market $100,000 Active 3 DOM
16. 2026-05-27
    listed $100,000 Active 807-char remark

    Show marketing remark (807 chars)

    This 4-bed, 2-bath home on 3 acres is an investor's dream or opportunity for a handy homeowner. ARV is at least double the list price. The first floor has a living room, kitchen, dining room, laundry/mudroom, 2 bedrooms, and 2 full bathrooms. Upstairs are two more bedrooms. Updates: furnace (2022), water heater (2022), water filtration system (2022), 200-amp electrical service (2015), and garbage disposal (2025). What's left is all cosmetics! Appliances stay, including the refrigerator, gas stove, disposal, washer, and dryer. The wood-burning stove is operational. Large pole barn with attached 1-car garage. Sold "as is" as the seller will not make any repairs or price adjustments after the inspection or appraisal. Seller has a conformance letter for the well. Book showings in SentriKey.

17. 2026-05-27
    listed $100,000 Active

    Show marketing remark (807 chars)

    This 4-bed, 2-bath home on 3 acres is an investor's dream or opportunity for a handy homeowner. ARV is at least double the list price. The first floor has a living room, kitchen, dining room, laundry/mudroom, 2 bedrooms, and 2 full bathrooms. Upstairs are two more bedrooms. Updates: furnace (2022), water heater (2022), water filtration system (2022), 200-amp electrical service (2015), and garbage disposal (2025). What's left is all cosmetics! Appliances stay, including the refrigerator, gas stove, disposal, washer, and dryer. The wood-burning stove is operational. Large pole barn with attached 1-car garage. Sold "as is" as the seller will not make any repairs or price adjustments after the inspection or appraisal. Seller has a conformance letter for the well. Book showings in SentriKey.

18. 2015-04-09
    listed $24,000 202-char remark

    Show marketing remark (202 chars)

    HUD Home. Almost 2 acres and a huge garage for 38k! Make sure you preview this home before it's gone. It won't last at this price. FHA appraisal lists property with a septic, county records show sewers.

19. 2015-04-09
    listed $24,000

    Show marketing remark (202 chars)

    HUD Home. Almost 2 acres and a huge garage for 38k! Make sure you preview this home before it's gone. It won't last at this price. FHA appraisal lists property with a septic, county records show sewers.

ⓘ 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: $309 · $26/mo
• Projected year-2 tax: $925 · $77/mo
• Expected delta: +$615/yr (+$51/mo · 199.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 15 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: $12,000
• − Mortgage interest: −$5,602
• − Property taxes: −$309
• − Insurance: −$500
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,909
• Taxable income: $760
• Est. tax owed @ 24.0%: −$182
• After-tax cash flow: $2,195/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

+316.7% since first listed

4 events — show timeline

• 2026-05-27 Listed $100,000 REALCOMP
• 2026-05-27 Listed $100,000 Greater Lansing AoR
• 2015-04-09 Listed $24,000 MiRealSource-MiMLS
• 2015-04-09 Listed $24,000 REALCOMP

Property tax history

-14.5%/yr

Latest (2025): $309 · -77.5% YoY. Source: county tax records.