209 E Corunna Ave · Corunna, MI 48817

$85,000

4 bd · 1.5 ba · 1,784 sqft · SingleFamily public records · 43 Days on market

Built 1925 6,970 sqft lot $48/sqft · 48% below area Est $162k · 48% 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 +9.2/10.0
• Livability +3.5/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention investors and DIY enthusiasts! This 4-bedroom, 1.5-bath home in Corunna, MI is sold as-is and offers great potential for those ready to make improvements. Whether you're looking to flip, rent, or move in, this property provides multiple exit strategies.

Key facts

• 6,970 sq ft lot
• Built 1925
• Listed 42 days

Property features AI

Finance

• Other: Pets are allowed

Exterior

• Parking: Driveway only (no garage)
• Utilities: Public water; Public sewer / sewer available
• Home design: Single-family residence; Two levels; Ground-level entry; Original of City of Corunna subdivision
• Construction: Vinyl siding and wood siding; Asphalt roof; Built area above grade approximately 1,784 square feet
• Exterior features: Porch; Corner, level lot; Paved road frontage

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfurnished; Accessible entrance, accessible common areas, accessible doors, accessible full bath and accessible kitchen; Crawl space basement; Six total rooms
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 2.1% in Corunna — 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 (#349 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D+, employment D, amenities F.
• Corunna Public Schools (town): math 24% / reading 40% proficiency, ranked #330 of 540 in MI (top 61%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 51 active listings in the ZIP; 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 $588 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.42% ✓
• Cap rate: 11.01%
• Cash-on-cash: 16.84%
• DSCR: 1.75
• GRM: 5.9

CMA / ARV

• ARV (median comp): $162,435
• List price: $85,000
• Delta: -47.67%
• 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
302 E State St	0.18mi	4/1.0	1,678 (-6%)	1mo	$149,900	$89	79
219 S Mizner St	0.40mi	4/1.5	1,836 (+3%)	2mo	$165,000	$90	74
105 S Comstock St	0.22mi	4/3.5	1,824 (+2%)	6mo	$250,000	$137	73
110 E Mcneil St	0.38mi	4/2.5	1,700 (-5%)	0mo	$182,000	$107	70
412 S Woodworth St	0.46mi	4/2.0	1,819 (+2%)	10mo	$259,500	$143	65
1225 E King St	0.74mi	4/1.5	1,775 (-0%)	1mo	$248,750	$140	64
625 Park Ln	0.57mi	3/1.5 (-1)	1,768 (-1%)	11mo	$296,000	$167	58
180 Ash St	0.62mi	4/3.0	1,811 (+2%)	6mo	$270,000	$149	58
448 E Oliver St	0.34mi	3/1.0 (-1)	1,600 (-10%)	9mo	$26,000	$16	52
280 Ash St	0.60mi	4/2.5	2,009 (+13%)	4mo	$250,000	$124	43
703 Cary St	0.47mi	3/1.0 (-1)	1,536 (-14%)	9mo	$180,000	$117	41
609 White Tail Ln	0.67mi	4/3.0	2,009 (+13%)	13mo	$275,000	$137	31

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: 8.1%
• Equity multiple: 1.32×
• Total profit: $7,539
• Equity at exit: $12,674

10-year hold

• IRR: 17.4%
• Equity multiple: 2.43×
• Total profit: $34,110
• Equity at exit: $7,349

Cash invested: $23,800 (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 48817

• Home prices YoY: -26.9%
• Active inventory: 51
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$136 /mo · $1,636/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $334

Break-even live

Break-even rent $782

Max offer price $85,000

Occupancy floor 67%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $85,000 Active 43 DOM
2. 2026-06-17
   days on market $85,000 Active 42 DOM
3. 2026-06-16
   days on market $85,000 Active 41 DOM
4. 2026-06-15
   days on market $85,000 Active 40 DOM
5. 2026-06-13
   days on market $85,000 Active 38 DOM
6. 2026-06-12
   days on market $85,000 Active 37 DOM
7. 2026-06-09
   days on market $85,000 Active 34 DOM
8. 2026-06-08
   days on market $85,000 Active 33 DOM
9. 2026-06-07
   days on market $85,000 Active 32 DOM
10. 2026-06-05
    days on market $85,000 Active 30 DOM
11. 2026-06-04
    days on market $85,000 Active 28 DOM
12. 2026-06-02
    days on market $85,000 Active 27 DOM
13. 2026-06-01
    days on market $85,000 Active 26 DOM
14. 2026-05-31
    days on market $85,000 Active 25 DOM
15. 2026-05-31
    days on market $85,000 Active 24 DOM
16. 2026-05-06
    listed $85,000 Active 263-char remark

    Show marketing remark (263 chars)

    Attention investors and DIY enthusiasts! This 4-bedroom, 1.5-bath home in Corunna, MI is sold as-is and offers great potential for those ready to make improvements. Whether you're looking to flip, rent, or move in, this property provides multiple exit strategies.

17. 2026-05-06
    listed $85,000 Active 263-char remark

    Show marketing remark (263 chars)

    Attention investors and DIY enthusiasts! This 4-bedroom, 1.5-bath home in Corunna, MI is sold as-is and offers great potential for those ready to make improvements. Whether you're looking to flip, rent, or move in, this property provides multiple exit strategies.

ⓘ 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: $1,636 · $136/mo
• Projected year-2 tax: $1,636 · $136/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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: $14,454
• − Mortgage interest: −$4,761
• − Property taxes: −$1,636
• − Insurance: −$425
• − Repairs & maintenance: −$1,156
• − Management: −$1,156
• − Depreciation: −$2,473
• Taxable income: $2,846
• Est. tax owed @ 24.0%: −$683
• After-tax cash flow: $3,326/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: Corunna Public Schools
• NCES district ID: 2610860
• Math proficiency: 24% ▲ 1.00%
• Reading proficiency: 40% ▬ 0.00%
• Median HH income: $47,801
• Composite: 27.59/100
• National rank: #6935
• State rank: #330 of 540 in MI

Livability — Corunna

• Score: 69/100
• State rank: #349
• US rank: #8909

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Corunna, MI
• Population (ZIP): 5,451

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 3% Asian 2% Two or more races 2%
• Common ancestry: Lithuanian 5% Romanian 5% Iranian 4%
• Foreign-born: 1% · Philippines, Canada
• 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: ▼ -91.76%
• Current HPI: 249.693
• 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

2 events — show timeline

• 2026-05-06 Listed $85,000 REALCOMP
• 2026-05-06 Listed $85,000 MiRealSource-MiMLS

Property tax history

+1.6%/yr

Latest (2025): $1,636 · +2.5% YoY. Source: county tax records.