258 E State Rd · Montrose, MI 48457

$106,000

3 bd · 1.0 ba · 900 sqft · SingleFamily · 36 Days on market

Built 1930 9,148 sqft lot $118/sqft · 23% below area Est $138k · 23% under

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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 +21.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +6.2/10.0
• Livability +3.6/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Public open house Sunday 1 to 3, come by and see the home! 3 bedroom 1 bath raised ranch in the heart of Montrose! Large covered porch, open floorplan, spacious living areas, along with a New roof 3 years ago and good size yard. Walkout basement, full and usable, could be used as extra living space or nice storage! Come see today!

Key facts

• Covered porch
• Walkout basement
• Good size yard

Tags

• COVERED PORCH
• OPEN FLOORPLAN
• WALKOUT BASEMENT
• GOOD SIZE YARD

Property features AI

Finance

• HOA & community: Has homeowners association

Exterior

• Utilities: Shared septic
• Home design: Single-family residence; One level
• Construction: Stucco exterior
• Exterior features: Lot dimensions approximately 59 x 162; Lot size about 0.21 acre

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Has basement; 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $106k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).
• Recommended offer: $103k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 71/100 on livability (#278 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A-; Watch: schools C-, amenities F, commute F.
• Montrose Community Schools (rural): math 27% / reading 41% proficiency, ranked #304 of 540 in MI (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 32 active listings in the ZIP; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $733 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $58k; list at $106k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,820 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1930 — 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. 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: 1.12% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.23%
• DSCR: 1.28
• GRM: 7.4

CMA / ARV

• ARV (median comp): $137,690
• List price: $106,000
• Delta: -23.02%
• 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
265 E Oak St	0.09mi	3/1.0	912 (+1%)	9mo	$155,000	$170	86
165 E State St	0.20mi	2/1.0 (-1)	840 (-7%)	5mo	$110,000	$131	71
259 N Genesee St	0.50mi	2/1.0 (-1)	888 (-1%)	2mo	$119,900	$135	68
208 Elizabeth St	0.39mi	3/1.0	912 (+1%)	22mo	$100,000	$110	61
213 S Saginaw St	0.35mi	2/1.0 (-1)	980 (+9%)	4mo	$114,000	$116	60
187 S Saginaw St	0.32mi	3/1.0	1,012 (+12%)	7mo	$149,900	$148	58
10216 Riverside Dr	0.31mi	3/1.0	1,008 (+12%)	19mo	$170,000	$169	49
259 N Saginaw St	0.46mi	3/1.0	1,024 (+14%)	8mo	$163,000	$159	49
11235 Nichols Rd	0.60mi	2/1.0 (-1)	900 (0%)	22mo	$138,000	$153	48
253 Genesee St	0.50mi	2/1.0 (-1)	1,005 (+12%)	13mo	$142,000	$141	42
245 W State St	0.59mi	3/1.0	1,020 (+13%)	23mo	$135,000	$132	31
325 N Genesee St	0.59mi	2/1.0 (-1)	1,008 (+12%)	22mo	$144,000	$143	29

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: -6.7%
• Equity multiple: 0.75×
• Total profit: $-7,318
• Equity at exit: $15,805

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $6,464
• Equity at exit: $9,165

Cash invested: $29,680 (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 48457

• Home prices YoY: -20.9%
• Active inventory: 32
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,190 medium
• Mortgage (P&I): −$556
• Tax from tax record: −$186 /mo · $2,230/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $154

Break-even live

Break-even rent $995

Max offer price $106,000

Occupancy floor 82%

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: $26,500
• Closing costs: $3,180
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-18
   days on market $106,000 Active 36 DOM
2. 2026-06-17
   days on market $106,000 Active 35 DOM
3. 2026-06-16
   days on market $106,000 Active 34 DOM
4. 2026-06-15
   days on market $106,000 Active 33 DOM
5. 2026-06-13
   days on market $106,000 Active 31 DOM
6. 2026-06-12
   days on market $106,000 Active 30 DOM
7. 2026-06-09
   days on market $106,000 Active 27 DOM
8. 2026-06-08
   days on market $106,000 Active 26 DOM
9. 2026-06-07
   days on market $106,000 Active 25 DOM
10. 2026-06-05
    days on market $106,000 Active 23 DOM
11. 2026-06-04
    days on market $106,000 Active 21 DOM
12. 2026-06-02
    pricedays on market $106,000 Active 20 DOM

    Show marketing remark (333 chars)

    Public open house Sunday 1 to 3, come by and see the home! 3 bedroom 1 bath raised ranch in the heart of Montrose! Large covered porch, open floorplan, spacious living areas, along with a New roof 3 years ago and good size yard. Walkout basement, full and usable, could be used as extra living space or nice storage! Come see today!

13. 2026-06-01
    days on market $109,800 Active 19 DOM
14. 2026-05-31
    days on market $109,800 Active 18 DOM
15. 2026-05-31
    days on market $109,800 Active 17 DOM
16. 2026-05-14
    listed $109,900 Active 273-char remark

    Show marketing remark (333 chars)

    Public open house Sunday 1 to 3, come by and see the home! 3 bedroom 1 bath raised ranch in the heart of Montrose! Large covered porch, open floorplan, spacious living areas, along with a New roof 3 years ago and good size yard. Walkout basement, full and usable, could be used as extra living space or nice storage! Come see today!

17. 2026-05-14
    listed $109,900 Active 273-char remark

    Show marketing remark (333 chars)

    Public open house Sunday 1 to 3, come by and see the home! 3 bedroom 1 bath raised ranch in the heart of Montrose! Large covered porch, open floorplan, spacious living areas, along with a New roof 3 years ago and good size yard. Walkout basement, full and usable, could be used as extra living space or nice storage! Come see today!

18. 2026-03-10
    historical
19. 2026-02-06
    price $109,899
20. 2026-02-06
    price $109,899
21. 2026-02-05
    price $109,900
22. 2026-02-05
    price $109,900
23. 2026-01-27
    price $114,900
24. 2026-01-26
    price $114,900
25. 2025-12-22
    price $119,900
26. 2025-12-22
    price $119,900
27. 2025-11-16
    listed $124,900 Active
28. 2025-11-15
    listed $124,900 Active
29. 2020-02-27
    soldstatus $58,000 Sold
30. 2020-02-27
    soldstatus $58,000 Closed
31. 2020-01-23
    status Pending
32. 2020-01-23
    status Pending
33. 2019-08-20
    listed $58,900 Active
34. 2019-08-20
    listed $58,900 Active

ⓘ 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: $2,230 · $186/mo
• Projected year-2 tax: $2,230 · $186/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 3/10 Moderate
• 🌡 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: $14,277
• − Mortgage interest: −$5,938
• − Property taxes: −$2,230
• − Insurance: −$530
• − Repairs & maintenance: −$1,142
• − Management: −$1,142
• − Depreciation: −$3,084
• Taxable income: $211
• Est. tax owed @ 24.0%: −$51
• After-tax cash flow: $1,797/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: Montrose Community Schools
• NCES district ID: 2624420
• Math proficiency: 27% ▼ -2.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $47,336
• Composite: 29.21/100
• National rank: #6569
• State rank: #304 of 540 in MI

Livability — Montrose

• Score: 71/100
• State rank: #278
• US rank: #6815

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: Montrose, MI
• Population (ZIP): 8,694

Population outlook (Genesee County) Hauer SSP2

• Today (2025): 381,312 people
• By 2030: 362,731 · -4.9%
• By 2040: 321,550 · -15.7%
• By 2050: 279,212 · -26.8%
• By 2075: 193,336 · -49.3%
• By 2100: 128,118 · -66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Italian 3% Iranian 3%
• Foreign-born: 1%
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Genesee

• 2024 margin: Toss-up / Even · D 51.4% · R 47.2% · Other 1.4%
• 2008→2024 swing: -28.3pp toward R · 2008: 32.5pp · 2024: 4.2pp
• All cycles: 2024: D+4.2 2020: D+9.3 2016: D+9.5 2012: D+28.2 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -68.89%
• Current HPI: 260.3864
• 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

+80.0% since first listed

23 events — show timeline

• 2026-06-02 Price Changed $106,000 MiRealSource-MiMLS
• 2026-06-02 Price Changed $106,000 REALCOMP
• 2026-05-27 Price Changed $109,800 MiRealSource-MiMLS
• 2026-05-26 Price Changed $109,800 REALCOMP
• 2026-05-14 Listed $109,900 REALCOMP
• 2026-05-14 Listed $109,900 MiRealSource-MiMLS
• 2026-03-10 Listing Removed — MiRealSource-MiMLS
• 2026-02-06 Price Changed $109,899 MiRealSource-MiMLS
• 2026-02-06 Price Changed $109,899 REALCOMP
• 2026-02-05 Price Changed $109,900 MiRealSource-MiMLS
• 2026-02-05 Price Changed $109,900 REALCOMP
• 2026-01-27 Price Changed $114,900 MiRealSource-MiMLS
• 2026-01-26 Price Changed $114,900 REALCOMP
• 2025-12-22 Price Changed $119,900 MiRealSource-MiMLS
• 2025-12-22 Price Changed $119,900 REALCOMP
• 2025-11-16 Listed $124,900 REALCOMP
• 2025-11-15 Listed $124,900 MiRealSource-MiMLS
• 2020-02-27 Sold (MLS) $58,000 MiRealSource-MiMLS
• 2020-02-27 Sold (MLS) $58,000 REALCOMP
• 2020-01-23 Pending — REALCOMP
• 2020-01-23 Pending — MiRealSource-MiMLS
• 2019-08-20 Listed $58,900 MiRealSource-MiMLS
• 2019-08-20 Listed $58,900 REALCOMP

Property tax history

+1.6%/yr

Latest (2025): $2,230 · +2.4% YoY. Source: county tax records.