108 S Pine · St. Louis, MI 48880

$59,500

4 bd · 2.0 ba · 2,117 sqft · SingleFamily · 98 Days on market

Built 1900 0.25 ac lot $28/sqft · 61% below area

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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 +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $54k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.1% vs local median 5.5% in St. Louis — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. Louis Public Schools (town): math 19% / reading 37% proficiency, ranked #397 of 540 in MI (top 74%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 28 active listings in the ZIP; 47 units permitted in Gratiot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $411 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Gratiot County population projected at -14% 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 10 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.

Risks & watch-outs

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

Recommended offer $54,145 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 2.25% ✓
• Cap rate: 20.13%
• Cash-on-cash: 49.41%
• DSCR: 3.20
• GRM: 3.7

CMA / ARV

• ARV (median comp): $153,031
• List price: $59,500
• Delta: -61.12%
• 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
303 W Washington St	0.01mi	4/1.5	2,088 (-1%)	11mo	$155,000	$74	86
109 W Tyrell St	0.16mi	4/2.0	1,997 (-6%)	2mo	$150,000	$75	82
109 E Tyrell St	0.21mi	5/1.5 (+1)	1,992 (-6%)	3mo	$111,500	$56	70
114 Essex Dr	0.50mi	4/2.0	2,184 (+3%)	13mo	$230,000	$105	61
317 W Saginaw	0.11mi	4/2.0	1,868 (-12%)	21mo	$91,000	$49	58
510 Teman St	0.61mi	3/2.0 (-1)	2,116 (-0%)	16mo	$210,000	$99	53
119 Surrey Rd	0.40mi	3/2.5 (-1)	1,991 (-6%)	19mo	$260,000	$131	49
137 Fox Dr	0.72mi	3/2.0 (-1)	2,264 (+7%)	2mo	$234,000	$103	48
108 Davis St	0.55mi	3/1.5 (-1)	1,834 (-13%)	5mo	$178,000	$97	41
904 Wilson Blvd	0.65mi	4/3.0	2,280 (+8%)	18mo	$215,000	$94	38
7580 Riverview Dr	0.51mi	3/2.0 (-1)	1,848 (-13%)	16mo	$118,000	$64	37
112 S East St	0.38mi	4/1.0	1,830 (-14%)	23mo	$140,000	$77	37

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: 47.0%
• Equity multiple: 3.04×
• Total profit: $34,043
• Equity at exit: $8,872

10-year hold

• IRR: 52.7%
• Equity multiple: 6.16×
• Total profit: $85,884
• Equity at exit: $5,144

Cash invested: $16,660 (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 48880

• Home prices YoY: -28.5%
• Active inventory: 28
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,339 medium
• Mortgage (P&I): −$312
• Tax from tax record: −$35 /mo · $418/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $686

Break-even live

Break-even rent $470

Max offer price $59,500

Occupancy floor 44%

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-18
   status $59,500 Pending 98 DOM
2. 2026-06-18
   days on market $59,500 Active 98 DOM
3. 2026-06-17
   days on market $59,500 Active 97 DOM
4. 2026-06-16
   days on market $59,500 Active 96 DOM
5. 2026-06-15
   days on market $59,500 Active 95 DOM
6. 2026-06-14
   days on market $59,500 Active 93 DOM
7. 2026-06-13
   days on market $59,500 Active 92 DOM
8. 2026-06-10
   days on market $59,500 Active 90 DOM
9. 2026-06-09
   days on market $59,500 Active 89 DOM
10. 2026-06-08
    days on market $59,500 Active 88 DOM
11. 2026-06-07
    days on market $59,500 Active 87 DOM
12. 2026-06-03
    days on market $59,500 Active 83 DOM
13. 2026-06-02
    days on market $59,500 Active 82 DOM
14. 2026-06-01
    days on market $59,500 Active 81 DOM
15. 2026-05-31
    days on market $59,500 Active 80 DOM
16. 2026-05-30
    days on market $59,500 Active 79 DOM
17. 2026-04-17
    status Active 519-char remark

    Show marketing remark (519 chars)

    Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

18. 2026-04-17
    status Active 519-char remark

    Show marketing remark (519 chars)

    Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

19. 2026-04-14
    historical Active Under Contract 519-char remark

    Show marketing remark (519 chars)

    Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

20. 2026-04-14
    historical Accepting Backup Offers 519-char remark

    Show marketing remark (519 chars)

    Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

21. 2026-04-10
    status Active 519-char remark

    Show marketing remark (519 chars)

    Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

22. 2026-04-10
    status Active 519-char remark

    Show marketing remark (519 chars)

    Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

23. 2026-04-10
    historical Active Under Contract 519-char remark

    Show marketing remark (519 chars)

    Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

24. 2026-04-10
    historical Accepting Backup Offers 519-char remark

    Show marketing remark (519 chars)

    Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

25. 2026-03-12
    listed $59,500 Active 519-char remark

    Show marketing remark (519 chars)

    Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

26. 2026-03-12
    listed $59,500 Active 519-char remark

    Show marketing remark (519 chars)

    Opportunity for the right buyer to bring new life to this turn-of-the-century home. Offering 4 bedrooms, 2 bathrooms, approximately 2,100 square feet of living space, an extra-deep lot with a cement pad, and a two-stall outbuilding. This property has strong potential as an investment or renovation project. The home will require a thorough cleaning and substantial updates, while it also provides a great canvas for those ready to roll up their sleeves and restore its character. Home is being sold, "As Is".

27. 2021-11-24
    soldstatus $55,000
28. 2021-11-24
    soldstatus $55,000
29. 2021-11-24
    soldstatus $55,000
30. 2021-10-20
    listed $55,000
31. 2021-10-20
    listed $55,000
32. 2019-11-18
    soldstatus $28,000
33. 2019-11-18
    soldstatus $28,000
34. 2019-11-14
    soldstatus $28,000
35. 2019-10-23
    listed $32,000
36. 2019-10-23
    listed $32,000

ⓘ 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: $418 · $35/mo
• Projected year-2 tax: $667 · $56/mo
• Expected delta: +$249/yr (+$21/mo · 59.5%)

ⓘ 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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,065
• − Mortgage interest: −$3,333
• − Property taxes: −$418
• − Insurance: −$298
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$1,731
• Taxable income: $7,715
• Est. tax owed @ 24.0%: −$1,852
• After-tax cash flow: $6,380/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: St. Louis Public Schools
• NCES district ID: 2632880
• Math proficiency: 19% ▼ -4.00%
• Reading proficiency: 37% ▼ -7.00%
• Median HH income: $38,717
• Composite: 23.4/100
• National rank: #7899
• State rank: #397 of 540 in MI

Livability — St. Louis

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

Census & demographics

• Census place: St. Louis, MI
• Population (ZIP): 9,952

Population outlook (Gratiot County) Hauer SSP2

• Today (2025): 39,991 people
• By 2030: 38,944 · -2.6%
• By 2040: 36,694 · -8.2%
• By 2050: 34,314 · -14.2%
• By 2075: 27,693 · -30.8%
• By 2100: 20,809 · -48.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 19% Hispanic / Latino 9% Two or more races 7%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Common ancestry: Romanian 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 94% English-only · Spanish 5%

Political lean MEDSL · Gratiot

• 2024 margin: Solid R (+31.3) · D 33.7% · R 65.0% · Other 1.4%
• 2008→2024 swing: -35.7pp toward R · 2008: 4.4pp · 2024: -31.3pp
• All cycles: 2024: R+31.3 2020: R+28.3 2016: R+25.6 2012: R+3.9 2008: D+4.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -82.19%
• Current HPI: 206.4534
• 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

+85.9% since first listed

20 events — show timeline

• 2026-04-17 Relisted — REALCOMP
• 2026-04-17 Relisted — MiRealSource-MiMLS
• 2026-04-14 Contingent — REALCOMP
• 2026-04-14 Contingent — MiRealSource-MiMLS
• 2026-04-10 Relisted — REALCOMP
• 2026-04-10 Relisted — MiRealSource-MiMLS
• 2026-04-10 Contingent — REALCOMP
• 2026-04-10 Contingent — MiRealSource-MiMLS
• 2026-03-12 Listed $59,500 MiRealSource-MiMLS
• 2026-03-12 Listed $59,500 REALCOMP
• 2021-11-24 Sold (Public Records) $55,000 Public Records
• 2021-11-24 Sold (MLS) $55,000 REALCOMP
• 2021-11-24 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2021-10-20 Listed $55,000 REALCOMP
• 2021-10-20 Listed $55,000 MiRealSource-MiMLS
• 2019-11-18 Sold (MLS) $28,000 MiRealSource-MiMLS
• 2019-11-18 Sold (MLS) $28,000 REALCOMP
• 2019-11-14 Sold (Public Records) $28,000 Public Records
• 2019-10-23 Listed $32,000 MiRealSource-MiMLS
• 2019-10-23 Listed $32,000 REALCOMP