1163 W Reid Unit #3 Rd · Mundy, MI 48507

$800

2 bd · 1.0 ba · 500 sqft · Condo · 37 Days on market

Built 1930

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Available Now! WATER INCLUDED!! This 2 bedroom unit in Mundy Twp. is on a corner lot that is partially fence in. Water is included and there is a coin operated laundry area available in basement. $300 non refundable cleaning fee Only small dogs allowed under 20 lbs. If approved a one time $250 non-refundable pet fee per pet and a monthly $25 pet fee per pet is collected Sorry, No Cats.

Key facts

• 0.47 acre lot
• Built 1930
• Listed 37 days

Property features AI

Finance

• Financial info: Annual tax approximately $3,306

Exterior

• Utilities: Public water; Public sewer
• Home design: Two levels; Residential income property (multi-family)
• Exterior features: Lot dimensions approximately 102 x 202 x 100 x 188; Lot size about 0.47 acres

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; Separate meters for heating; No cooling
• Interior features: Has basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $800.

Deal economics

• At list price, monthly cash flow is $768 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($979 rent vs $800).
• Recommended offer: $776 (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Carman-Ainsworth Community Schools (suburban): math 12% / reading 28% proficiency, ranked #468 of 540 in MI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.0%/yr); 206 active listings in the ZIP; 1 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 $6 of loan paydown is wiped out by about $24 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 + 0.0% rent growth), your $224 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($776) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 11y 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 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $776 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 122.35% ✓
• Cap rate: 1157.84%
• Cash-on-cash: 4112.68%
• DSCR: 183.99
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 205.96×
• Total profit: $45,912
• Equity at exit: $119

10-year hold

• IRR: —
• Equity multiple: 411.33×
• Total profit: $91,914
• Equity at exit: $69

Cash invested: $224 (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 48507

• Rents YoY: -1.0%
• Active inventory: 206
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $979 medium
• Mortgage (P&I): −$4
• Tax est. 1.5%: −$1 /mo · $12/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $768

Break-even live

Break-even rent $7

Max offer price $800

Occupancy floor 17%

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: $200
• Closing costs: $24
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1000 Thornridge Dr Grand Blanc Twp, MI	1.0–2.0	1.0–2.0	905	$1,346	$1.49	13d	45	0.68mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $800 Active 37 DOM
2. 2026-06-17
   days on market $800 Active 36 DOM
3. 2026-06-16
   days on market $800 Active 35 DOM
4. 2026-06-15
   days on market $800 Active 34 DOM
5. 2026-06-14
   days on market $800 Active 32 DOM
6. 2026-06-13
   days on market $800 Active 31 DOM
7. 2026-06-10
   days on market $800 Active 29 DOM
8. 2026-06-09
   days on market $800 Active 28 DOM
9. 2026-06-08
   days on market $800 Active 27 DOM
10. 2026-06-07
    days on market $800 Active 26 DOM
11. 2026-06-05
    days on market $800 Active 23 DOM
12. 2026-06-02
    days on market $800 Active 21 DOM
13. 2026-06-01
    days on market $800 Active 20 DOM
14. 2026-05-31
    days on market $800 Active 19 DOM
15. 2026-05-30
    days on market $800 Active 18 DOM
16. 2026-05-12
    listed $800 Active 390-char remark
17. 2026-05-11
    soldstatus $800 Closed 390-char remark

    Show marketing remark (390 chars)

    Available Now! WATER INCLUDED!! This 2 bedroom unit in Mundy Twp. is on a corner lot that is partially fence in. Water is included and there is a coin operated laundry area available in basement. $300 non refundable cleaning fee Only small dogs allowed under 20 lbs. If approved a one time $250 non-refundable pet fee per pet and a monthly $25 pet fee per pet is collected Sorry, No Cats.

18. 2026-03-19
    listed $800 Active 390-char remark

    Show marketing remark (390 chars)

    Available Now! WATER INCLUDED!! This 2 bedroom unit in Mundy Twp. is on a corner lot that is partially fence in. Water is included and there is a coin operated laundry area available in basement. $300 non refundable cleaning fee Only small dogs allowed under 20 lbs. If approved a one time $250 non-refundable pet fee per pet and a monthly $25 pet fee per pet is collected Sorry, No Cats.

19. 2020-10-05
    soldstatus $159,000 Sold

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

20. 2020-10-05
    soldstatus $159,000 Closed

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

21. 2020-08-25
    status Pending
22. 2020-08-24
    status Pending

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

23. 2020-08-07
    price $159,900

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

24. 2020-08-07
    status Active

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

25. 2020-08-07
    price $159,900

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

26. 2020-08-06
    status Active

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

27. 2020-06-18
    status Pending

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

28. 2020-06-18
    status Pending

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

29. 2020-06-12
    listed $164,900 Active

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

30. 2020-06-12
    listed $164,900 Active

    Show marketing remark (662 chars)

    This Property is a 4 Multi-Family Dwelling with four separate Apartments. Three units feature two bedrooms, living room, kitchen and one full bath. One unit features one bedroom, living room, kitchen and one full bath. This converted farm House has been completely revamped with newer Drywall, Plumbing, doors, Floors, Decks, Stairs, insulation and Water Softner. Coin-Operated Laundry Area is available in the Basement. New Shed added in 2017. Lots of Parking for residents and guest. Large partially fenced in corner lot. Carman schools, or Grand Blanc, bus also stops out front at the corner, look up school of choice on the Grand Blanc line, mundy township.

31. 2018-12-24
    historical
32. 2018-01-24
    historical
33. 2017-08-04
    status Pending
34. 2017-08-01
    historical
35. 2017-07-27
    status Pending
36. 2017-07-27
    status Pending
37. 2017-07-25
    historical
38. 2017-07-14
    listed $150,000 Active
39. 2017-07-14
    listed $150,000 Active
40. 2017-02-23
    historical
41. 2016-11-09
    status Active
42. 2016-10-12
    historical Keep Showing-Contgcy Appl
43. 2016-09-15
    status Active
44. 2016-09-09
    historical Keep Showing-Contgcy Appl
45. 2016-08-02
    price $134,900
46. 2016-08-02
    price $134,900
47. 2016-04-07
    listed $139,900 Active
48. 2016-04-06
    listed $134,900
49. 2015-09-02
    historical
50. 2015-06-03
    listed $140,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 15 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: $11,745
• − Mortgage interest: −$45
• − Property taxes: −$12
• − Insurance: −$4
• − Repairs & maintenance: −$940
• − Management: −$940
• − Depreciation: −$23
• Taxable income: $9,782
• Est. tax owed @ 24.0%: −$2,348
• After-tax cash flow: $6,865/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: Carman-Ainsworth Community Schools
• NCES district ID: 2607890
• Math proficiency: 12% ▼ -14.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $39,394
• Composite: 16.84/100
• National rank: #9149
• State rank: #468 of 540 in MI

Livability — Mundy

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

Census & demographics

• County: Genesee County · 221,329 people
• Metro: Flint, MI
• Population (ZIP): 28,723
• Household income: $46,554
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1534.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 59% Black 28% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -154.90%
• Current HPI: 132.3632
• Rent YoY: ▼ -1.04%
• 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

+13.6% since first listed

35 events — show timeline

• 2026-05-12 Listed $800 REALCOMP
• 2026-05-11 Sold (MLS) $800 REALCOMP
• 2026-03-19 Listed $800 REALCOMP
• 2020-10-05 Sold (MLS) $159,000 MiRealSource-MiMLS
• 2020-10-05 Sold (MLS) $159,000 REALCOMP
• 2020-08-25 Pending — MiRealSource-MiMLS
• 2020-08-24 Pending — REALCOMP
• 2020-08-07 Price Changed $159,900 MiRealSource-MiMLS
• 2020-08-07 Relisted — MiRealSource-MiMLS
• 2020-08-07 Price Changed $159,900 REALCOMP
• 2020-08-06 Relisted — REALCOMP
• 2020-06-18 Pending — MiRealSource-MiMLS
• 2020-06-18 Pending — REALCOMP
• 2020-06-12 Listed $164,900 MiRealSource-MiMLS
• 2020-06-12 Listed $164,900 REALCOMP
• 2018-12-24 Listing Removed — REALCOMP
• 2018-01-24 Listing Removed — REALCOMP
• 2017-08-04 Pending — REALCOMP
• 2017-08-01 Listing Removed — REALCOMP
• 2017-07-27 Pending — MiRealSource-MiMLS
• 2017-07-27 Pending — REALCOMP
• 2017-07-25 Listing Removed — MiRealSource-MiMLS
• 2017-07-14 Listed $150,000 MiRealSource-MiMLS
• 2017-07-14 Listed $150,000 REALCOMP
• 2017-02-23 Listing Removed — MiRealSource-MiMLS
• 2016-11-09 Relisted — MiRealSource-MiMLS
• 2016-10-12 Contingent — MiRealSource-MiMLS
• 2016-09-15 Relisted — MiRealSource-MiMLS
• 2016-09-09 Contingent — MiRealSource-MiMLS
• 2016-08-02 Price Changed $134,900 MiRealSource-MiMLS
• 2016-08-02 Price Changed $134,900 REALCOMP
• 2016-04-07 Listed $139,900 MiRealSource-MiMLS
• 2016-04-06 Listed $134,900 REALCOMP
• 2015-09-02 Listing Removed — REALCOMP
• 2015-06-03 Listed $140,000 REALCOMP