80 Sterling · Adrian, MI 49221

$62,500

3 bd · 2.0 ba · 910 sqft · Other · 16 Days on market

Built 1998

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Remodeled home for sale in Sterling Estates! This 1998 model was completely redone top to bottom in 2024 - check out the photos! Offering 3 bedrooms, 2 baths and everything new. Great location near the front of the community and a storage shed outside. Call today! Lot rent is currently $485.

Key facts

• Storage shed
• Remodeled home
• Built 1998

Tags

• REMODELED HOME
• STORAGE SHED

Property features AI

Exterior

• Utilities: Public water
• Home design: Residential property; Other architectural style
• Construction: Built in 1998; Vinyl siding
• Exterior features: Shed(s)

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator; Kitchen approximately 13 x 8
• Bedrooms: Primary bedroom (12 x 11); Bedroom 2 (7 x 10); Bedroom 3 (9 x 11)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Has cooling
• Interior features: 5 total rooms; Basement: Other

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $62k.

Deal economics

• At list price, monthly cash flow is $649 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $62k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.7% vs local median 5.7% in Adrian — 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 69/100 on livability (#342 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, crime F, commute F.
• Madison School District (Lenawee) (town): math 34% / reading 51% proficiency, ranked #195 of 540 in MI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 214 active listings in the ZIP; 2 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 $432 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Recommended offer $61,562 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Crime grade is F 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?
3. 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.
4. 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.
5. 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: 2.19% ✓
• Cap rate: 18.74%
• Cash-on-cash: 44.47%
• DSCR: 2.98
• GRM: 3.8

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: 41.5%
• Equity multiple: 2.78×
• Total profit: $31,198
• Equity at exit: $9,319

10-year hold

• IRR: 47.7%
• Equity multiple: 5.60×
• Total profit: $80,437
• Equity at exit: $5,404

Cash invested: $17,500 (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 49221

• Active inventory: 214
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,368 medium
• Mortgage (P&I): −$328
• Tax est. 1.5%: −$78 /mo · $938/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $649

Break-even live

Break-even rent $547

Max offer price $62,500

Occupancy floor 48%

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: $15,625
• Closing costs: $1,875
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
413 E Maple Ave Unit 2 Adrian, MI	2.0	1.0	652	$1,200	$1.84	23d	1	1.49mi
413 E Maple Ave Unit 1 Adrian, MI	2.0	1.0	826	$1,500	$1.82	23d	1	1.49mi

Listing history 12 events

1. 2026-06-18
   days on market $62,500 Active 16 DOM
2. 2026-06-17
   days on market $62,500 Active 15 DOM
3. 2026-06-16
   days on market $62,500 Active 14 DOM
4. 2026-06-15
   days on market $62,500 Active 13 DOM
5. 2026-06-13
   days on market $62,500 Active 11 DOM
6. 2026-06-12
   days on market $62,500 Active 10 DOM
7. 2026-06-09
   days on market $62,500 Active 7 DOM
8. 2026-06-08
   days on market $62,500 Active 6 DOM
9. 2026-06-07
   days on market $62,500 Active 5 DOM
10. 2026-06-05
    days on market $62,500 Active 3 DOM
11. 2026-06-03
    remarks 292-char remark
12. 2026-06-03
    listed $62,500 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,412
• − Mortgage interest: −$3,501
• − Property taxes: −$938
• − Insurance: −$312
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − Depreciation: −$1,818
• Taxable income: $7,217
• Est. tax owed @ 24.0%: −$1,732
• After-tax cash flow: $6,050/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: Madison School District (Lenawee)
• NCES district ID: 2622320
• Math proficiency: 34% ▼ -10.00%
• Reading proficiency: 51% ▼ -5.00%
• Median HH income: $37,961
• Composite: 35.35/100
• National rank: #4959
• State rank: #195 of 540 in MI

Livability — Adrian

• Score: 69/100
• State rank: #342
• US rank: #8722

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Adrian, MI
• City population: 41,041
• Population (ZIP): 41,041

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 6% Arabic 1%

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: ▼ -143.64%
• Current HPI: 237.3796
• 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

+0.0% since first listed

3 events — show timeline

• 2026-06-02 Listed $62,500 MiRealSource-MiMLS
• 2026-06-02 Listed $62,500 REALCOMP
• 2026-06-02 Listed $62,500 SW Michigan MLS

Property tax history

-6.7%/yr

Latest (2025): $5 · -23.7% YoY. Source: county tax records.