8325 Walter St · Genesee, MI 48458

$47,999

2 bd · 1.0 ba · 1,050 sqft · SingleFamily · 40 Days on market

Built 1949 6,970 sqft lot

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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
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Alert! Outstanding value-add opportunity in Mount Morris with strong upside potential for investors, rehabbers, and builders looking for their next project. Located in an established residential neighborhood with convenient access to major roads, shopping, schools, and everyday amenities, this property offers excellent potential as a future rental, flip, or affordable owner-occupant renovation project. The home sits on a concrete slab foundation and already has several major components in place, including an updated/date-coded fuse system and available cabinets that can be included with the sale. With the right vision and improvements, this property has the potential to become a strong income-producing asset or starter home. Property requires significant renovations and completion before occupancy, making it ideal for experienced investors or contractors seeking a project with upside and ARV potential in a high-demand rental market. Novation: Buyer has equitable interest in the property and is marketing the property with the owner's authorization in order to locate a new buyer.

Key facts

• Updated fuse system
• Convenient access
• 6,970 sq ft lot

Tags

• CONVENIENT ACCESS
• CONCRETE SLAB FOUNDATION
• UPDATED FUSE SYSTEM

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Vinyl siding exterior
• Construction: Vinyl siding construction
• Exterior features: Paved road access; Lot approximately 0.16 acres (60 x 120)

Interior

• Bedrooms: One-level home (bedroom locations not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating with natural gas; No central cooling
• Interior features: Basement present; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $342 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $47k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Mt. Morris Consolidated Schools (suburban): math 7% / reading 19% proficiency, ranked #511 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 144 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $332 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 32y 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 $25k; list at $48k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.8% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,559 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.13% ✓
• Cap rate: 14.85%
• Cash-on-cash: 30.57%
• DSCR: 2.36
• GRM: 3.9

CMA / ARV

• ARV (on-the-fly): $131,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
755 Alexandrine Ave	0.16mi	2/1.0	1,087 (+4%)	7mo	$140,000	$129	80
1201 Thelma St	0.21mi	3/1.0 (+1)	1,000 (-5%)	1mo	$146,000	$146	77
1051 Pinehurst Blvd	0.31mi	2/1.0	956 (-9%)	1mo	$159,500	$167	70
1147 Harriet St	0.07mi	3/1.0 (+1)	1,171 (+12%)	6mo	$66,950	$57	67
766 Louisa St	0.25mi	3/1.0 (+1)	960 (-9%)	3mo	$91,000	$95	66
1031 E Pine Ave	0.17mi	2/1.5	900 (-14%)	0mo	$125,000	$139	66
1126 Paul St	0.30mi	3/1.0 (+1)	990 (-6%)	7mo	$130,000	$131	65
643 Roosevelt Ave	0.47mi	3/1.0 (+1)	1,008 (-4%)	2mo	$99,000	$98	64
1243 Howard St	0.60mi	3/1.0 (+1)	1,032 (-2%)	1mo	$125,000	$121	63
1287 E Mount Morris Rd	0.68mi	2/1.0	1,038 (-1%)	8mo	$85,400	$82	60
11850 Temperance St	0.58mi	3/1.0 (+1)	1,124 (+7%)	8mo	$140,000	$125	50
12210 W Washington Ave	0.59mi	3/1.5 (+1)	1,152 (+10%)	3mo	$70,000	$61	47

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: 25.4%
• Equity multiple: 2.05×
• Total profit: $14,122
• Equity at exit: $7,157

10-year hold

• IRR: 33.2%
• Equity multiple: 4.03×
• Total profit: $40,767
• Equity at exit: $4,150

Cash invested: $13,440 (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 48458

• Home prices YoY: -16.0%
• Active inventory: 144
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,021 medium
• Mortgage (P&I): −$252
• Tax from tax record: −$193 /mo · $2,310/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $342

Break-even live

Break-even rent $588

Max offer price $47,999

Occupancy floor 61%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
750 Jefferson St Mt Morris, MI	1.0–2.0	1.0–2.0	828	$1,020	$1.23	13d	4	0.36mi
9070 N Saginaw Rd Apt 201 Mt Morris, MI	2.0	1.0	700	$940	$1.34	13d	1	0.53mi

Listing history 39 events

1. 2026-06-18
   days on market $47,999 Active 40 DOM
2. 2026-06-17
   days on market $47,999 Active 39 DOM
3. 2026-06-16
   days on market $47,999 Active 38 DOM
4. 2026-06-15
   days on market $47,999 Active 37 DOM
5. 2026-06-14
   days on market $47,999 Active 35 DOM
6. 2026-06-13
   days on market $47,999 Active 34 DOM
7. 2026-06-10
   days on market $47,999 Active 32 DOM
8. 2026-06-09
   days on market $47,999 Active 31 DOM
9. 2026-06-08
   days on market $47,999 Active 30 DOM
10. 2026-06-07
    pricedays on market $47,999 Active 29 DOM
11. 2026-06-03
    days on market $48,999 Active 25 DOM
12. 2026-06-02
    days on market $48,999 Active 24 DOM
13. 2026-06-01
    days on market $48,999 Active 23 DOM
14. 2026-05-31
    days on market $48,999 Active 22 DOM
15. 2026-05-30
    days on market $48,999 Active 21 DOM
16. 2026-05-06
    listed $50,000 Active 1103-char remark

    Show marketing remark (1103 chars)

    Investor Alert! Outstanding value-add opportunity in Mount Morris with strong upside potential for investors, rehabbers, and builders looking for their next project. Located in an established residential neighborhood with convenient access to major roads, shopping, schools, and everyday amenities, this property offers excellent potential as a future rental, flip, or affordable owner-occupant renovation project. The home sits on a concrete slab foundation and already has several major components in place, including an updated/date-coded fuse system and available cabinets that can be included with the sale. With the right vision and improvements, this property has the potential to become a strong income-producing asset or starter home. Property requires significant renovations and completion before occupancy, making it ideal for experienced investors or contractors seeking a project with upside and ARV potential in a high-demand rental market. Novation: Buyer has equitable interest in the property and is marketing the property with the owner's authorization in order to locate a new buyer.

17. 2026-05-06
    listed $50,000 Active

    Show marketing remark (1103 chars)

    Investor Alert! Outstanding value-add opportunity in Mount Morris with strong upside potential for investors, rehabbers, and builders looking for their next project. Located in an established residential neighborhood with convenient access to major roads, shopping, schools, and everyday amenities, this property offers excellent potential as a future rental, flip, or affordable owner-occupant renovation project. The home sits on a concrete slab foundation and already has several major components in place, including an updated/date-coded fuse system and available cabinets that can be included with the sale. With the right vision and improvements, this property has the potential to become a strong income-producing asset or starter home. Property requires significant renovations and completion before occupancy, making it ideal for experienced investors or contractors seeking a project with upside and ARV potential in a high-demand rental market. Novation: Buyer has equitable interest in the property and is marketing the property with the owner's authorization in order to locate a new buyer.

18. 2023-02-22
    soldstatus $25,000 Sold 356-char remark

    Show marketing remark (356 chars)

    2-bedroom house in the heart of Mt. Morris. Easy access corner lot and detached garage. Home needs TLC is sold AS IS. Cash offers only with proof of funds. No interior access due to debris. This property may also be marketed via an auction event at Hubzu The Seller will review offers submitted through the auction site as well as through the listing agent

19. 2023-02-22
    soldstatus $25,000 Closed

    Show marketing remark (356 chars)

    2-bedroom house in the heart of Mt. Morris. Easy access corner lot and detached garage. Home needs TLC is sold AS IS. Cash offers only with proof of funds. No interior access due to debris. This property may also be marketed via an auction event at Hubzu The Seller will review offers submitted through the auction site as well as through the listing agent

20. 2023-01-24
    status Pending

    Show marketing remark (356 chars)

    2-bedroom house in the heart of Mt. Morris. Easy access corner lot and detached garage. Home needs TLC is sold AS IS. Cash offers only with proof of funds. No interior access due to debris. This property may also be marketed via an auction event at Hubzu The Seller will review offers submitted through the auction site as well as through the listing agent

21. 2023-01-24
    status Pending 356-char remark

    Show marketing remark (356 chars)

    2-bedroom house in the heart of Mt. Morris. Easy access corner lot and detached garage. Home needs TLC is sold AS IS. Cash offers only with proof of funds. No interior access due to debris. This property may also be marketed via an auction event at Hubzu The Seller will review offers submitted through the auction site as well as through the listing agent

22. 2023-01-19
    status Active 356-char remark

    Show marketing remark (356 chars)

    2-bedroom house in the heart of Mt. Morris. Easy access corner lot and detached garage. Home needs TLC is sold AS IS. Cash offers only with proof of funds. No interior access due to debris. This property may also be marketed via an auction event at Hubzu The Seller will review offers submitted through the auction site as well as through the listing agent

23. 2023-01-19
    status Pending 356-char remark

    Show marketing remark (356 chars)

    2-bedroom house in the heart of Mt. Morris. Easy access corner lot and detached garage. Home needs TLC is sold AS IS. Cash offers only with proof of funds. No interior access due to debris. This property may also be marketed via an auction event at Hubzu The Seller will review offers submitted through the auction site as well as through the listing agent

24. 2022-12-24
    listed $14,900 Active 356-char remark

    Show marketing remark (356 chars)

    2-bedroom house in the heart of Mt. Morris. Easy access corner lot and detached garage. Home needs TLC is sold AS IS. Cash offers only with proof of funds. No interior access due to debris. This property may also be marketed via an auction event at Hubzu The Seller will review offers submitted through the auction site as well as through the listing agent

25. 2022-12-24
    listed $14,900 Active

    Show marketing remark (356 chars)

    2-bedroom house in the heart of Mt. Morris. Easy access corner lot and detached garage. Home needs TLC is sold AS IS. Cash offers only with proof of funds. No interior access due to debris. This property may also be marketed via an auction event at Hubzu The Seller will review offers submitted through the auction site as well as through the listing agent

26. 2000-03-31
    soldstatus $42,900
27. 2000-03-31
    soldstatus $42,900
28. 2000-01-11
    historical
29. 1999-10-25
    listed $44,900
30. 1999-10-25
    listed $44,900
31. 1997-12-16
    listed $31,900
32. 1997-12-16
    historical
33. 1997-12-16
    historical
34. 1997-12-16
    listed $31,900
35. 1994-06-13
    soldstatus $25,900
36. 1994-06-13
    soldstatus $25,900
37. 1994-05-09
    historical
38. 1994-03-24
    listed $25,900
39. 1994-03-24
    listed $25,900

ⓘ 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: $2,310 · $193/mo
• Projected year-2 tax: $2,310 · $193/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 2/10 Low 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,251
• − Mortgage interest: −$2,689
• − Property taxes: −$2,310
• − Insurance: −$240
• − Repairs & maintenance: −$980
• − Management: −$980
• − Depreciation: −$1,396
• Taxable income: $3,656
• Est. tax owed @ 24.0%: −$877
• After-tax cash flow: $3,231/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: Mt. Morris Consolidated Schools
• NCES district ID: 2624720
• Math proficiency: 7% ▼ -9.00%
• Reading proficiency: 19% ▼ -7.00%
• Median HH income: $35,006
• Composite: 10.63/100
• National rank: #9774
• State rank: #511 of 540 in MI

Livability — Genesee

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

Census & demographics

• County: Genesee County · 221,329 people
• City population: 19,519
• Metro: Flint, MI
• Population (ZIP): 19,519
• Household income: $46,797
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 724.0

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 (66%)
• Race & ethnicity: White 66% Black 22% Two or more races 7% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 5% Romanian 3% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -46.45%
• Current HPI: 244.2061
• Rent YoY: —
• Metro: Flint, MI
• 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

+93.1% since first listed

24 events — show timeline

• 2026-05-06 Listed $50,000 REALCOMP
• 2026-05-06 Listed $50,000 MiRealSource-MiMLS
• 2023-02-22 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2023-02-22 Sold (MLS) $25,000 REALCOMP
• 2023-01-24 Pending — MiRealSource-MiMLS
• 2023-01-24 Pending — REALCOMP
• 2023-01-19 Relisted — REALCOMP
• 2023-01-19 Pending — REALCOMP
• 2022-12-24 Listed $14,900 MiRealSource-MiMLS
• 2022-12-24 Listed $14,900 REALCOMP
• 2000-03-31 Sold (MLS) $42,900 REALCOMP
• 2000-03-31 Sold (MLS) $42,900 MiRealSource-MiMLS
• 2000-01-11 Listing Removed — MiRealSource-MiMLS
• 1999-10-25 Listed $44,900 REALCOMP
• 1999-10-25 Listed $44,900 MiRealSource-MiMLS
• 1997-12-16 Listed $31,900 REALCOMP
• 1997-12-16 Listing Removed — REALCOMP
• 1997-12-16 Listing Removed — MiRealSource-MiMLS
• 1997-12-16 Listed $31,900 MiRealSource-MiMLS
• 1994-06-13 Sold (MLS) $25,900 REALCOMP
• 1994-06-13 Sold (MLS) $25,900 MiRealSource-MiMLS
• 1994-05-09 Listing Removed — MiRealSource-MiMLS
• 1994-03-24 Listed $25,900 REALCOMP
• 1994-03-24 Listed $25,900 MiRealSource-MiMLS

Property tax history

+13.9%/yr

Latest (2025): $2,310 · +0.5% YoY. Source: county tax records.