8163 E Monroe Rd · Ridgeway, MI 49229

$141,900

3 bd · 2.0 ba · 1,248 sqft · Manufactured public records · 70 Days on market

Built 1980 0.40 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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

Key facts

• Fenced in area
• Insulated workshop
• Large laundry room

Tags

• FENCED IN AREA
• INSULATED WORKSHOP
• SPLIT LAYOUT
• LARGE LAUNDRY ROOM
• EXPANSIVE DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $142k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $133k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 19 active listings in the ZIP; 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 $981 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $40k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 19y ago; this cycle's ask has dropped $23k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $133,386 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.19% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.63%
• DSCR: 1.56
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.4%
• Equity multiple: 1.09×
• Total profit: $3,617
• Equity at exit: $21,158

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $37,371
• Equity at exit: $12,269

Cash invested: $39,732 (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 49229

• Home prices YoY: -13.7%
• Active inventory: 19
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,686 medium
• Mortgage (P&I): −$744
• Tax from tax record: −$111 /mo · $1,327/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $418

Break-even live

Break-even rent $1,157

Max offer price $141,900

Occupancy floor 70%

Sensitivity live

Price	-10% $498	-5% $458	+0% $418	+5% $378	+10% $338
Rent	-10% $285	-5% $351	+0% $418	+5% $485	+10% $551
Rate	-1.0pp $490	-0.5pp $454	base $418	+0.5pp $381	+1.0pp $344

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: $35,475
• Closing costs: $4,257
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $141,900 Active 70 DOM
2. 2026-06-17
   days on market $141,900 Active 69 DOM
3. 2026-06-16
   days on market $141,900 Active 68 DOM
4. 2026-06-15
   days on market $141,900 Active 67 DOM
5. 2026-06-14
   days on market $141,900 Active 65 DOM
6. 2026-06-13
   pricedays on market $141,900 Active 64 DOM
7. 2026-06-10
   days on market $144,900 Active 62 DOM
8. 2026-06-09
   days on market $144,900 Active 61 DOM
9. 2026-06-09
   status $144,900 Active 60 DOM
10. 2026-06-08
    days on market $144,900 Active - Contingent 60 DOM
11. 2026-06-07
    days on market $144,900 Active - Contingent 59 DOM
12. 2026-06-05
    statusdays on market $144,900 Active - Contingent 56 DOM
13. 2026-06-03
    days on market $144,900 Active 55 DOM
14. 2026-06-02
    days on market $144,900 Active 54 DOM
15. 2026-06-01
    days on market $144,900 Active 53 DOM
16. 2026-05-31
    days on market $144,900 Active 52 DOM
17. 2026-05-30
    days on market $144,900 Active 51 DOM
18. 2026-05-12
    price $149,900 357-char remark

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

19. 2026-05-12
    price $149,900 357-char remark

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

20. 2026-05-12
    price $149,900

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

21. 2026-04-27
    price $154,900 357-char remark

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

22. 2026-04-27
    price $154,900 357-char remark

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

23. 2026-04-27
    price $154,900

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

24. 2026-04-16
    price $159,900 357-char remark

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

25. 2026-04-15
    price $159,900 357-char remark

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

26. 2026-04-15
    price $159,900

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

27. 2026-04-09
    listed $164,900 Active 357-char remark

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

28. 2026-04-09
    listed $164,900 Active 357-char remark

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

29. 2026-04-09
    listed $164,900 Active

    Show marketing remark (357 chars)

    Great opportunity for affordable country living! This 3 bedroom manufactured home sits on a deep lot complete with fenced in area and insulated workshop! Featuring a split layout and large laundry room there's much to love here! From the cozy woodwork, to the new flooring throughout, and the expansive deck just made for summer nights! Appliances included.

30. 2022-02-01
    soldstatus $144,500
31. 2022-01-28
    soldstatus $144,500 Sold
32. 2022-01-28
    soldstatus $144,500 Closed
33. 2021-11-28
    historical Contingent - Continue To Show
34. 2021-11-28
    historical Keep Showing-Contgcy Appl
35. 2021-11-28
    price $144,500
36. 2021-11-27
    price $144,500
37. 2021-11-17
    listed $149,900 Active
38. 2021-11-17
    listed $149,900 Active
39. 2009-06-18
    historical
40. 2009-06-17
    historical
41. 2008-06-17
    listed
42. 2008-06-17
    listed $84,000
43. 2008-03-30
    historical
44. 2007-09-24
    listed $89,900
45. 2007-09-17
    historical
46. 2007-09-17
    historical
47. 2007-06-21
    historical
48. 2007-06-21
    historical
49. 2007-06-19
    listed
50. 2007-06-19
    listed $90,000

ⓘ 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: $1,327 · $111/mo
• Projected year-2 tax: $1,756 · $146/mo
• Expected delta: +$429/yr (+$36/mo · 32.3%)

ⓘ 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 · 14 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: $20,232
• − Mortgage interest: −$7,949
• − Property taxes: −$1,327
• − Insurance: −$710
• − Repairs & maintenance: −$1,619
• − Management: −$1,619
• − Depreciation: −$4,128
• Taxable income: $2,881
• Est. tax owed @ 24.0%: −$692
• After-tax cash flow: $4,325/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 — Ridgeway

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 3,538

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 (90%)
• Race & ethnicity: White 90% Two or more races 8% Hispanic / Latino 4%
• Common ancestry: Romanian 4% Serbian 3% Lithuanian 2%
• Foreign-born: 1% · Canada

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: ▼ -33.66%
• Current HPI: 211.9201
• 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

+35.2% since first listed

39 events — show timeline

• 2026-05-12 Price Changed $149,900 MiRealSource-MiMLS
• 2026-05-12 Price Changed $149,900 REALCOMP
• 2026-05-12 Price Changed $149,900 SW Michigan MLS
• 2026-04-27 Price Changed $154,900 MiRealSource-MiMLS
• 2026-04-27 Price Changed $154,900 REALCOMP
• 2026-04-27 Price Changed $154,900 SW Michigan MLS
• 2026-04-16 Price Changed $159,900 MiRealSource-MiMLS
• 2026-04-15 Price Changed $159,900 REALCOMP
• 2026-04-15 Price Changed $159,900 SW Michigan MLS
• 2026-04-09 Listed $164,900 REALCOMP
• 2026-04-09 Listed $164,900 SW Michigan MLS
• 2026-04-09 Listed $164,900 MiRealSource-MiMLS
• 2022-02-01 Sold (Public Records) $144,500 Public Records
• 2022-01-28 Sold (MLS) $144,500 MiRealSource-MiMLS
• 2022-01-28 Sold (MLS) $144,500 REALCOMP
• 2021-11-28 Contingent — REALCOMP
• 2021-11-28 Contingent — MiRealSource-MiMLS
• 2021-11-28 Price Changed $144,500 MiRealSource-MiMLS
• 2021-11-27 Price Changed $144,500 REALCOMP
• 2021-11-17 Listed $149,900 MiRealSource-MiMLS
• 2021-11-17 Listed $149,900 REALCOMP
• 2009-06-18 Delisted — AAMLS
• 2009-06-17 Listing Removed — MiRealSource-MiMLS
• 2008-06-17 Listed $84,000 MiRealSource-MiMLS
• 2008-06-17 Listed — AAMLS
• 2008-03-30 Listing Removed — REALCOMP
• 2007-09-24 Listed $89,900 REALCOMP
• 2007-09-17 Listing Removed — MiRealSource-MiMLS
• 2007-09-17 Delisted — AAMLS
• 2007-06-21 Listing Removed — MiRealSource-MiMLS
• 2007-06-21 Delisted — AAMLS
• 2007-06-19 Listed $90,000 MiRealSource-MiMLS
• 2007-06-19 Listed — AAMLS
• 2007-04-23 Delisted — AAMLS
• 2007-04-23 Listing Removed — MiRealSource-MiMLS
• 2007-04-23 Listed $100,000 MiRealSource-MiMLS
• 2007-04-23 Listed — AAMLS
• 2007-01-07 Listed — AAMLS
• 2007-01-07 Listed $110,900 MiRealSource-MiMLS

Property tax history

-3.5%/yr

Latest (2025): $1,327 · -32.9% YoY. Source: county tax records.