945 N Summit St · Morenci, MI 49256

$105,000

4 bd · 1.0 ba · 1,102 sqft · SingleFamily public records · 199 Days on market

Built 1900 6,490 sqft lot $95/sqft · 29% above area Est $105k · at est.

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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 +26.1/30.0
• Appreciation +10.0/10.0
• DSCR +8.8/10.0
• ARV discount +7.4/15.0
• 1% rule +6.5/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

Key facts

• 6,490 sq ft lot
• Built 1900
• Listed 199 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#167 in MI, #4,401 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools D-, amenities F, commute F.
• Morenci Area Schools (rural): math 28% / reading 43% proficiency, ranked #283 of 540 in MI (top 52%) — 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

• In year one you build about $11k of equity ($726 loan paydown + $10k appreciation (10.0% local appreciation)).
• Lenawee County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 18 sale attempts since 4y 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 $80k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 9.32%
• Cash-on-cash: 10.81%
• DSCR: 1.48
• GRM: 7.2

CMA / ARV

• ARV (median comp): $104,682
• List price: $105,000
• Delta: 0.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
714 North St	0.16mi	3/1.0 (-1)	1,094 (-1%)	6mo	$68,500	$63	82
120 E Union St	0.43mi	3/1.5 (-1)	1,120 (+2%)	5mo	$55,000	$49	66
234 E Union St	0.46mi	3/1.0 (-1)	1,132 (+3%)	4mo	$114,000	$101	66
524 Maple Dr	0.27mi	3/1.0 (-1)	1,256 (+14%)	1mo	$77,000	$61	58
526 Burley St	0.35mi	3/2.0 (-1)	1,180 (+7%)	21mo	$140,000	$119	46
219 North St	0.43mi	3/1.5 (-1)	1,197 (+9%)	18mo	$43,500	$36	43
440 Whitney Ave	0.74mi	3/1.5 (-1)	1,237 (+12%)	2mo	$179,900	$145	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.2%
• Equity multiple: 3.52×
• Total profit: $74,045
• Equity at exit: $94,592

10-year hold

• IRR: 27.8%
• Equity multiple: 7.97×
• Total profit: $204,782
• Equity at exit: $203,992

Cash invested: $29,400 (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 49256

• Home prices YoY: 8.7%
• Active inventory: 19
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,209 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$96 /mo · $1,148/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $265

Break-even live

Break-even rent $873

Max offer price $105,000

Occupancy floor 73%

Sensitivity live

Price	-10% $324	-5% $294	+0% $265	+5% $235	+10% $205
Rent	-10% $169	-5% $217	+0% $265	+5% $313	+10% $360
Rate	-1.0pp $318	-0.5pp $291	base $265	+0.5pp $238	+1.0pp $210

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 47 events

1. 2026-03-24
   status Active 825-char remark

   Show marketing remark (825 chars)

   Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

2. 2026-03-24
   status Active 825-char remark

   Show marketing remark (825 chars)

   Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

3. 2026-03-24
   status Active

   Show marketing remark (825 chars)

   Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

4. 2026-03-21
   historical Keep Showing-Contgcy Appl 825-char remark

   Show marketing remark (825 chars)

   Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

5. 2026-03-21
   historical Active Under Contract 825-char remark

   Show marketing remark (825 chars)

   Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

6. 2026-03-21
   historical Active - Contingent

   Show marketing remark (825 chars)

   Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

7. 2026-03-09
   status Active 825-char remark

   Show marketing remark (825 chars)

   Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

8. 2026-03-09
   status Active 825-char remark

   Show marketing remark (825 chars)

   Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

9. 2026-03-09
   status Active

   Show marketing remark (825 chars)

   Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

10. 2026-02-11
    historical Active Under Contract 825-char remark

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

11. 2026-02-11
    historical Keep Showing-Contgcy Appl 825-char remark

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

12. 2026-02-11
    historical Active - Contingent

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

13. 2025-12-31
    price $105,000 825-char remark

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

14. 2025-12-30
    price $105,000 825-char remark

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

15. 2025-12-30
    price $105,000

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

16. 2025-11-08
    listed $110,000 Active 825-char remark

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

17. 2025-11-08
    listed $110,000 Active

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

18. 2025-11-08
    listed $110,000 Active 825-char remark

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

19. 2025-11-06
    historical $110,000 825-char remark

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

20. 2025-11-06
    historical $110,000

    Show marketing remark (825 chars)

    Seller is motivated--bring an offer! This 4-bedroom, 1-bath Dutch Colonial in Morenci offers space, character, and upside potential. A large living room welcomes you inside from the front stoop, with plenty of room for gatherings or quiet evenings. The kitchen features solid cabinetry and flows into a spacious dining room with room for family meals or entertaining. Updated bathroom adds modern comfort. The partially fenced backyard provides space for pets, play, or outdoor gatherings. Renovations are currently underway, and the price may adjust as improvements are completed--buy now and build equity as updates progress. Possible land contract terms with substantial down payment and approved background/credit review. Buyers to verify all information. One seller is a licensed agent; listing agent related to sellers.

21. 2024-02-23
    listed $89,000 Active
22. 2024-02-23
    listed $89,000 Active
23. 2023-07-03
    soldstatus $80,000
24. 2023-06-23
    soldstatus $80,000 Sold
25. 2023-06-23
    soldstatus $80,000 Closed
26. 2023-06-23
    soldstatus $80,000 Sold
27. 2023-06-23
    soldstatus $80,000 Closed
28. 2023-06-23
    soldstatus $80,000
29. 2023-06-09
    status Pending
30. 2023-06-09
    status Pending
31. 2023-05-13
    historical Contingent - Continue To Show
32. 2023-05-13
    historical Keep Showing-Contgcy Appl
33. 2023-05-03
    status Active
34. 2023-05-03
    status Back on Market
35. 2023-04-26
    historical Contingent - Continue To Show
36. 2023-04-26
    historical Keep Showing-Contgcy Appl
37. 2023-03-22
    status Active
38. 2023-03-22
    status Active
39. 2023-03-14
    historical Contingent - Continue To Show
40. 2023-03-14
    historical Keep Showing-Contgcy Appl
41. 2023-01-28
    price $89,000
42. 2023-01-27
    price $89,000
43. 2022-11-29
    price $94,900
44. 2022-11-28
    price $94,900
45. 2022-10-25
    listed $97,900 Active
46. 2022-10-25
    listed $97,900 Active
47. 2022-06-25
    listed $89,000

ⓘ 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: $1,148 · $96/mo
• Projected year-2 tax: $1,383 · $115/mo
• Expected delta: +$234/yr (+$20/mo · 20.4%)

ⓘ 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 ≥100°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: $14,504
• − Mortgage interest: −$5,882
• − Property taxes: −$1,148
• − Insurance: −$525
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$3,055
• Taxable income: $1,574
• Est. tax owed @ 24.0%: −$378
• After-tax cash flow: $2,799/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: Morenci Area Schools
• NCES district ID: 2624570
• Math proficiency: 28% ▼ -5.00%
• Reading proficiency: 43% ▲ 1.00%
• Median HH income: $43,503
• Composite: 30.09/100
• National rank: #6340
• State rank: #283 of 540 in MI

Livability — Morenci

• Score: 74/100
• State rank: #167
• US rank: #4401

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morenci, MI
• County: Lenawee · 10,162 people
• Population (ZIP): 3,830
• Household income: $60,982
• Rent vs Own: 20.3% rent · 79.7% own

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% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▲ 24.27%
• Current HPI: 304.604
• 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

+18.0% since first listed

47 events — show timeline

• 2026-03-24 Relisted — REALCOMP
• 2026-03-24 Relisted — MiRealSource-MiMLS
• 2026-03-24 Relisted — SW Michigan MLS
• 2026-03-21 Contingent — MiRealSource-MiMLS
• 2026-03-21 Contingent — REALCOMP
• 2026-03-21 Contingent — SW Michigan MLS
• 2026-03-09 Relisted — MiRealSource-MiMLS
• 2026-03-09 Relisted — REALCOMP
• 2026-03-09 Relisted — SW Michigan MLS
• 2026-02-11 Contingent — REALCOMP
• 2026-02-11 Contingent — MiRealSource-MiMLS
• 2026-02-11 Contingent — SW Michigan MLS
• 2025-12-31 Price Changed $105,000 MiRealSource-MiMLS
• 2025-12-30 Price Changed $105,000 REALCOMP
• 2025-12-30 Price Changed $105,000 SW Michigan MLS
• 2025-11-08 Listed $110,000 REALCOMP
• 2025-11-08 Listed $110,000 SW Michigan MLS
• 2025-11-08 Listed $110,000 MiRealSource-MiMLS
• 2025-11-06 Coming Soon $110,000 MiRealSource-MiMLS
• 2025-11-06 Coming Soon $110,000 SW Michigan MLS
• 2024-02-23 Listed $89,000 SW Michigan MLS
• 2024-02-23 Listed $89,000 REALCOMP
• 2023-07-03 Sold (Public Records) $80,000 Public Records
• 2023-06-23 Sold (MLS) $80,000 MiRealSource-MiMLS
• 2023-06-23 Sold (MLS) $80,000 MiRealSource-MiMLS
• 2023-06-23 Sold (MLS) $80,000 SW Michigan MLS
• 2023-06-23 Sold (MLS) $80,000 REALCOMP
• 2023-06-23 Sold (MLS) $80,000 REALCOMP
• 2023-06-09 Pending — REALCOMP
• 2023-06-09 Pending — MiRealSource-MiMLS
• 2023-05-13 Contingent — REALCOMP
• 2023-05-13 Contingent — MiRealSource-MiMLS
• 2023-05-03 Relisted — REALCOMP
• 2023-05-03 Relisted — MiRealSource-MiMLS
• 2023-04-26 Contingent — REALCOMP
• 2023-04-26 Contingent — MiRealSource-MiMLS
• 2023-03-22 Relisted — REALCOMP
• 2023-03-22 Relisted — MiRealSource-MiMLS
• 2023-03-14 Contingent — REALCOMP
• 2023-03-14 Contingent — MiRealSource-MiMLS
• 2023-01-28 Price Changed $89,000 MiRealSource-MiMLS
• 2023-01-27 Price Changed $89,000 REALCOMP
• 2022-11-29 Price Changed $94,900 MiRealSource-MiMLS
• 2022-11-28 Price Changed $94,900 REALCOMP
• 2022-10-25 Listed $97,900 MiRealSource-MiMLS
• 2022-10-25 Listed $97,900 REALCOMP
• 2022-06-25 Listed $89,000 MiRealSource-MiMLS

Property tax history

+0.0%/yr

Latest (2025): $1,148 · -44.1% YoY. Source: county tax records.