5045 Nadie Dr · Mount Morris, MI 48458

$24,000

3 bd · 2.0 ba · 1,088 sqft · SingleFamily · 97 Days on market

Built 1996 Good condition $550/mo HOA · 50% of rent ↓ 17% since listing

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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
• Condition / age +4.0/5.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this affordable 3-bedroom, 2-bath home in Mt. Morris offering 1,088 sq ft of comfortable living space. This home features a desirable open floor plan that connects the living room, dining area, and kitchen, creating a bright and functional layout perfect for everyday living and entertaining. The primary bedroom includes a private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. Located in a community that is now under new ownership with plans to restore the neighborhood to its original glory, making it a great opportunity to purchase at an affordable price while the community continues to improve. Conveniently located near shopping, dining, and major roadways.

Key facts

• Built 1996
• Listed 97 days

Property features AI

Finance

• HOA & community: Homeowners association with $550 monthly fee

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Vinyl siding
• Construction: Asphalt roof; Slab foundation
• Exterior features: Porch; Paved road access

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air natural gas heating; Ceiling fan(s) (no central cooling)
• Interior features: Gas water heater; Laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $24k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $24k).
• Recommended offer: $22k (9.0% below list) — sets the bar for market timing.
• Cap rate 14.3% vs local median 5.5% in Mount Morris — 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 68/100 on livability (#357 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $166 of loan paydown is wiped out by about $720 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 $7k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 50% of rent.

Recommended offer $21,840 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 F-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 4.62% ✓
• Cap rate: 14.28%
• Cash-on-cash: 28.51%
• DSCR: 2.27
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $131,648
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11430 Industrial St	0.09mi	3/1.0	1,165 (+7%)	5mo	$155,000	$133	76
1243 Howard St	0.38mi	3/1.0	1,032 (-5%)	1mo	$125,000	$121	69
517 Oak St	0.44mi	3/1.0	1,020 (-6%)	5mo	$95,000	$93	61
1287 E Mount Morris Rd	0.41mi	2/1.0 (-1)	1,038 (-5%)	8mo	$85,400	$82	58
643 Roosevelt Ave	0.54mi	3/1.0	1,008 (-7%)	2mo	$99,000	$98	57
12210 W Washington Ave	0.67mi	3/1.5	1,152 (+6%)	3mo	$70,000	$61	55
415 Oak St	0.54mi	3/1.0	990 (-9%)	1mo	$102,000	$103	54
1138 Nutana Blvd	0.61mi	3/1.0	1,005 (-8%)	2mo	$165,000	$164	54
755 Alexandrine Ave	0.67mi	2/1.0 (-1)	1,087 (-0%)	7mo	$140,000	$129	53
328 Oak St	0.64mi	3/1.5	1,200 (+10%)	0mo	$163,000	$136	51
1201 Thelma St	0.71mi	3/1.0	1,000 (-8%)	1mo	$146,000	$146	49
766 Louisa St	0.58mi	3/1.0	960 (-12%)	3mo	$91,000	$95	46

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: 23.7%
• Equity multiple: 1.99×
• Total profit: $6,634
• Equity at exit: $3,578

10-year hold

• IRR: 32.1%
• Equity multiple: 4.02×
• Total profit: $20,312
• Equity at exit: $2,075

Cash invested: $6,720 (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: 1.8×

Monthly cashflow live

• Estimated rent: $1,108 medium
• Mortgage (P&I): −$126
• Tax est. 1.5%: −$30 /mo · $360/yr
• Insurance: −$10
• HOA: −$550
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $160

Break-even live

Break-even rent $906

Max offer price $24,000

Occupancy floor 81%

Sensitivity live

Price	-10% $176	-5% $168	+0% $160	+5% $151	+10% $143
Rent	-10% $72	-5% $116	+0% $160	+5% $203	+10% $247
Rate	-1.0pp $172	-0.5pp $166	base $160	+0.5pp $153	+1.0pp $147

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: $6,000
• Closing costs: $720
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	14d	4	0.44mi
7028 Rosewood Dr Mt Morris, MI	2.0	1.0	967	$1,020	$1.05	14d	1	1.14mi
9070 N Saginaw Rd Apt 201 Mt Morris, MI	2.0	1.0	700	$940	$1.34	14d	1	1.28mi

HOA detail

• Monthly dues: $550 · $6,600/yr

Listing history 19 events

1. 2026-06-18
   days on market $24,000 Active 97 DOM
2. 2026-06-17
   days on market $24,000 Active 96 DOM
3. 2026-06-16
   days on market $24,000 Active 95 DOM
4. 2026-06-15
   days on market $24,000 Active 94 DOM
5. 2026-06-14
   days on market $24,000 Active 92 DOM
6. 2026-06-13
   days on market $24,000 Active 91 DOM
7. 2026-06-10
   days on market $24,000 Active 89 DOM
8. 2026-06-09
   days on market $24,000 Active 88 DOM
9. 2026-06-08
   days on market $24,000 Active 87 DOM
10. 2026-06-07
    days on market $24,000 Active 86 DOM
11. 2026-06-03
    days on market $24,000 Active 82 DOM
12. 2026-06-02
    days on market $24,000 Active 81 DOM
13. 2026-06-01
    days on market $24,000 Active 80 DOM
14. 2026-05-31
    days on market $24,000 Active 79 DOM
15. 2026-05-30
    days on market $24,000 Active 78 DOM
16. 2026-04-11
    price $24,000 724-char remark

    Show marketing remark (724 chars)

    Welcome to this affordable 3-bedroom, 2-bath home in Mt. Morris offering 1,088 sq ft of comfortable living space. This home features a desirable open floor plan that connects the living room, dining area, and kitchen, creating a bright and functional layout perfect for everyday living and entertaining. The primary bedroom includes a private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. Located in a community that is now under new ownership with plans to restore the neighborhood to its original glory, making it a great opportunity to purchase at an affordable price while the community continues to improve. Conveniently located near shopping, dining, and major roadways.

17. 2026-04-10
    price $24,000
18. 2026-03-13
    listed $28,900 Active 724-char remark

    Show marketing remark (724 chars)

    Welcome to this affordable 3-bedroom, 2-bath home in Mt. Morris offering 1,088 sq ft of comfortable living space. This home features a desirable open floor plan that connects the living room, dining area, and kitchen, creating a bright and functional layout perfect for everyday living and entertaining. The primary bedroom includes a private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. Located in a community that is now under new ownership with plans to restore the neighborhood to its original glory, making it a great opportunity to purchase at an affordable price while the community continues to improve. Conveniently located near shopping, dining, and major roadways.

19. 2026-03-13
    listed $28,900 Active

    Show marketing remark (724 chars)

    Welcome to this affordable 3-bedroom, 2-bath home in Mt. Morris offering 1,088 sq ft of comfortable living space. This home features a desirable open floor plan that connects the living room, dining area, and kitchen, creating a bright and functional layout perfect for everyday living and entertaining. The primary bedroom includes a private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. Located in a community that is now under new ownership with plans to restore the neighborhood to its original glory, making it a great opportunity to purchase at an affordable price while the community continues to improve. Conveniently located near shopping, dining, and major roadways.

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

Taxation est. · year 1

• Rental income: $13,299
• − Mortgage interest: −$1,344
• − Property taxes: −$360
• − Insurance: −$120
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − HOA: −$6,600
• − Depreciation: −$698
• Taxable income: $2,049
• Est. tax owed @ 24.0%: −$492
• After-tax cash flow: $1,424/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This 3-bedroom, 2-bath home in Mount Morris is in good condition with new finishes and a fresh paint job. It's a great opportunity for an investor looking to make minor cosmetic improvements to enhance its curb appeal and value.

Value-add opportunities

• Both Painting exterior siding — Enhances curb appeal and value
• Both Landscaping improvements — Enhances curb appeal and value
• Both New window treatments — Enhances curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both New window treatments — Enhances curb appeal and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Mount Morris

• Score: 68/100
• State rank: #357
• US rank: #9095

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Morris, MI
• 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

-17.0% since first listed

4 events — show timeline

• 2026-04-11 Price Changed $24,000 MiRealSource-MiMLS
• 2026-04-10 Price Changed $24,000 REALCOMP
• 2026-03-13 Listed $28,900 REALCOMP
• 2026-03-13 Listed $28,900 MiRealSource-MiMLS