802 Woodlawn Ave · Owosso, MI 48867

$71,200

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 169 Days on market

Built 1940 0.28 ac lot $93/sqft · 28% below area Est $99k · 28% under

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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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• 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

REO Occupied – NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Great Opportunity to own this single-family home built in 1940 featuring 2 bedrooms and 1 bathrooms. * * * 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. * * *

Key facts

• 0.28 acre lot
• Garage
• Built 1940

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $71k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $71k).
• Recommended offer: $63k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 $492 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,656 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 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 1940 — 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 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. 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.
8. 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.
9. 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: 1.40% ✓
• Cap rate: 11.42%
• Cash-on-cash: 18.32%
• DSCR: 1.82
• GRM: 5.9

CMA / ARV

• ARV (median comp): $98,890
• List price: $71,200
• Delta: -28.00%
• 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
755 Woodlawn Ave	0.04mi	2/1.0	840 (+9%)	2mo	$91,000	$108	80
1207 Broadway Ave	0.04mi	2/1.0	844 (+10%)	4mo	$120,000	$142	78
822 Glenwood Ave	0.14mi	2/1.0	800 (+4%)	10mo	$112,500	$141	78
902 Glenwood Ave	0.16mi	2/1.0	834 (+9%)	2mo	$155,000	$186	76
615 Glenwood St	0.24mi	2/1.0	790 (+3%)	9mo	$150,000	$190	76
626 Alger St	0.20mi	3/1.5 (+1)	755 (-2%)	17mo	$33,000	$44	67
810 Broadway Ave	0.14mi	1/1.0 (-1)	857 (+12%)	6mo	$42,000	$49	64
631 Woodlawn Ave	0.21mi	1/1.0 (-1)	672 (-12%)	1mo	$73,000	$109	63
721 Wright Ave	0.48mi	1/1.0 (-1)	726 (-6%)	5mo	$65,000	$90	60
201 E Stewart St	0.50mi	2/1.0	696 (-9%)	9mo	$115,000	$165	54
504 E Howard St	0.51mi	2/1.0	880 (+15%)	12mo	$10,000	$11	42
1403 Melinda St	0.67mi	1/1.0 (-1)	696 (-9%)	8mo	$95,000	$136	41

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: 10.0%
• Equity multiple: 1.39×
• Total profit: $7,859
• Equity at exit: $10,616

10-year hold

• IRR: 19.1%
• Equity multiple: 2.60×
• Total profit: $31,850
• Equity at exit: $6,156

Cash invested: $19,936 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,000 medium
• Mortgage (P&I): −$373
• Tax from tax record: −$83 /mo · $991/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $304

Break-even live

Break-even rent $615

Max offer price $71,200

Occupancy floor 65%

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: $17,800
• Closing costs: $2,136
• 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	1.39mi

Listing history 22 events

1. 2026-06-18
   days on market $71,200 Active 169 DOM
2. 2026-06-17
   days on market $71,200 Active 168 DOM
3. 2026-06-16
   days on market $71,200 Active 167 DOM
4. 2026-06-15
   days on market $71,200 Active 166 DOM
5. 2026-06-13
   days on market $71,200 Active 164 DOM
6. 2026-06-12
   days on market $71,200 Active 163 DOM
7. 2026-06-09
   days on market $71,200 Active 160 DOM
8. 2026-06-08
   days on market $71,200 Active 159 DOM
9. 2026-06-07
   days on market $71,200 Active 158 DOM
10. 2026-06-07
    days on market $71,200 Active 157 DOM
11. 2026-06-04
    days on market $71,200 Active 154 DOM
12. 2026-06-02
    days on market $71,200 Active 153 DOM
13. 2026-06-01
    days on market $71,200 Active 152 DOM
14. 2026-05-31
    days on market $71,200 Active 151 DOM
15. 2026-05-31
    days on market $71,200 Active 150 DOM
16. 2025-12-29
    listed $71,200 Active 571-char remark

    Show marketing remark (584 chars)

    REO Occupied – NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Great Opportunity to own this single-family home built in 1940 featuring 2 bedrooms and 1 bathrooms. * * * 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. * * *

17. 2025-12-29
    listed $71,200 Active 584-char remark

    Show marketing remark (584 chars)

    REO Occupied – NO ACCESS OR VIEWINGS of this property. Please DO NOT DISTURB the occupant. "As is" cash only sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing. Great Opportunity to own this single-family home built in 1940 featuring 2 bedrooms and 1 bathrooms. * * * 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. * * *

18. 2019-05-22
    soldstatus $65,000
19. 2019-05-17
    soldstatus $65,000
20. 2019-05-17
    soldstatus $65,000
21. 2019-04-09
    listed $64,900
22. 2019-04-09
    listed $64,900

ⓘ 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: $991 · $83/mo
• Projected year-2 tax: $1,044 · $87/mo
• Expected delta: +$53/yr (+$4/mo · 5.3%)

ⓘ 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 2/10 Low 7 d/yr ≥98°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: −$3,988
• − Property taxes: −$991
• − Insurance: −$356
• − Repairs & maintenance: −$960
• − Management: −$960
• − Depreciation: −$2,071
• Taxable income: $2,673
• Est. tax owed @ 24.0%: −$642
• After-tax cash flow: $3,011/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

• Census place: Owosso, MI
• 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

+9.7% since first listed

7 events — show timeline

• 2025-12-29 Listed $71,200 MiRealSource-MiMLS
• 2025-12-29 Listed $71,200 REALCOMP
• 2019-05-22 Sold (Public Records) $65,000 Public Records
• 2019-05-17 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2019-05-17 Sold (MLS) $65,000 REALCOMP
• 2019-04-09 Listed $64,900 MiRealSource-MiMLS
• 2019-04-09 Listed $64,900 REALCOMP

Property tax history

-1.9%/yr

Latest (2025): $991 · -30.8% YoY. Source: county tax records.