213 W Congress St · Morenci, MI 49256

$105,000

3 bd · 1.0 ba · 1,015 sqft · SingleFamily public records · 72 Days on market

Built 1925 3,485 sqft lot $103/sqft · 10% above area Est $118k · 11% under

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Why this score? — see what drove the C- 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).

• ARV discount +12.6/15.0
• Cash flow +11.3/30.0
• Appreciation +10.0/10.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Schools +3.0/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Charming 3-Bedroom, 2-Bath Home in Morenci! This lovely home features 3 bedrooms and 2 full bathrooms with main-level laundry for convenience. Enjoy 2 covered porches, front and back, perfect for relaxing or entertaining. Located just a few blocks from downtown Morenci, you’re within walking distance to parks, schools, and all the local shops and amenities.

Key facts

• 3,485 sq ft lot
• Built 1925
• Listed 72 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $-38 ($-459/yr) — negative.
• To cash-flow at today's rent, offer at most $98k (6.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $81k (22.7% below list).
• Recommended offer: $81k (22.7% below list) — sets the bar for 1% rule.

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; 2 comparable units currently listed for rent nearby; 137 units permitted in Lenawee County in 2024 (0 in 5+ unit buildings).
• This rent is only 16% of the median local income ($61k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

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 ~3 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 72 days — a 6% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,178 (22.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 5.86%
• Cash-on-cash: -1.56%
• DSCR: 0.93
• GRM: 10.8

CMA / ARV

• ARV (median comp): $118,491
• List price: $105,000
• Delta: -11.39%
• 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
124 W Walnut Rd	0.10mi	2/1.0 (-1)	942 (-7%)	2mo	$123,500	$131	76
714 North St	0.21mi	3/1.0	1,094 (+8%)	6mo	$68,500	$63	73
223 Page St	0.40mi	2/1.0 (-1)	1,010 (-0%)	5mo	$106,000	$105	71
120 E Union St	0.19mi	3/1.5	1,120 (+10%)	5mo	$55,000	$49	68
234 E Union St	0.28mi	3/1.0	1,132 (+12%)	4mo	$114,000	$101	65
134 W Lagrange St	0.27mi	2/1.0 (-1)	1,097 (+8%)	11mo	$105,000	$96	60
115 East Street North	0.33mi	2/1.0 (-1)	897 (-12%)	3mo	$69,000	$77	58
136 Orchard St	0.25mi	2/1.0 (-1)	1,165 (+15%)	3mo	$99,000	$85	56
402 Pearl St	0.52mi	3/1.0	1,150 (+13%)	1mo	$100,000	$87	53
715 W Main St	0.49mi	2/2.0 (-1)	1,056 (+4%)	12mo	$94,900	$90	52
101 E Chestnut St	0.19mi	2/1.0 (-1)	864 (-15%)	14mo	$95,000	$110	50
804 W Main St	0.56mi	2/1.0 (-1)	916 (-10%)	11mo	$165,000	$180	43

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: 23.2%
• Equity multiple: 2.86×
• Total profit: $54,731
• Equity at exit: $94,592

10-year hold

• IRR: 20.6%
• Equity multiple: 6.55×
• Total profit: $163,060
• 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: 10.8×

Monthly cashflow live

• Estimated rent: $812 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$85 /mo · $1,023/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$170
• Net cashflow: $-38

Break-even live

Break-even rent $860

Max offer price $98,237

Occupancy floor 100%

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: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
240 Gorham St Morenci, MI	1.0–2.0	1.0	662	$875	$1.32	23d	1	0.57mi
126 N Washington St Unit 4 Morenci, MI	2.0	1.0	700	$750	$1.07	21d	1	0.59mi

Listing history 31 events

1. 2026-06-18
   days on market $105,000 Active 72 DOM
2. 2026-06-17
   days on market $105,000 Active 71 DOM
3. 2026-06-16
   days on market $105,000 Active 70 DOM
4. 2026-06-15
   days on market $105,000 Active 69 DOM
5. 2026-06-13
   days on market $105,000 Active 67 DOM
6. 2026-06-12
   days on market $105,000 Active 66 DOM
7. 2026-06-09
   days on market $105,000 Active 63 DOM
8. 2026-06-08
   days on market $105,000 Active 62 DOM
9. 2026-06-07
   days on market $105,000 Active 61 DOM
10. 2026-06-05
    days on market $105,000 Active 59 DOM
11. 2026-06-04
    days on market $105,000 Active 57 DOM
12. 2026-06-02
    days on market $105,000 Active 56 DOM
13. 2026-06-01
    days on market $105,000 Active 55 DOM
14. 2026-05-31
    days on market $105,000 Active 54 DOM
15. 2026-05-31
    days on market $105,000 Active 53 DOM
16. 2026-05-12
    price $105,000 366-char remark

    Show marketing remark (360 chars)

    Charming 3-Bedroom, 2-Bath Home in Morenci! This lovely home features 3 bedrooms and 2 full bathrooms with main-level laundry for convenience. Enjoy 2 covered porches, front and back, perfect for relaxing or entertaining. Located just a few blocks from downtown Morenci, you're within walking distance to parks, schools, and all the local shops and amenities.

17. 2026-05-12
    price $105,000 360-char remark

    Show marketing remark (360 chars)

    Charming 3-Bedroom, 2-Bath Home in Morenci! This lovely home features 3 bedrooms and 2 full bathrooms with main-level laundry for convenience. Enjoy 2 covered porches, front and back, perfect for relaxing or entertaining. Located just a few blocks from downtown Morenci, you're within walking distance to parks, schools, and all the local shops and amenities.

18. 2026-04-07
    listed $115,000 Active 360-char remark

    Show marketing remark (360 chars)

    Charming 3-Bedroom, 2-Bath Home in Morenci! This lovely home features 3 bedrooms and 2 full bathrooms with main-level laundry for convenience. Enjoy 2 covered porches, front and back, perfect for relaxing or entertaining. Located just a few blocks from downtown Morenci, you're within walking distance to parks, schools, and all the local shops and amenities.

19. 2026-04-06
    listed $115,000 Active 366-char remark

    Show marketing remark (366 chars)

    Charming 3-Bedroom, 2-Bath Home in Morenci! This lovely home features 3 bedrooms and 2 full bathrooms with main-level laundry for convenience. Enjoy 2 covered porches, front and back, perfect for relaxing or entertaining. Located just a few blocks from downtown Morenci, you’re within walking distance to parks, schools, and all the local shops and amenities.

20. 2023-09-06
    soldstatus $124,000
21. 2023-08-31
    soldstatus $124,000 Sold
22. 2023-08-31
    soldstatus $124,000 Closed
23. 2023-07-25
    status Pending
24. 2023-07-25
    status Pending
25. 2023-04-19
    price $135,000
26. 2023-04-19
    price $135,000
27. 2023-03-04
    price $144,900
28. 2023-03-04
    price $144,900
29. 2023-01-31
    listed $149,900 Active
30. 2023-01-31
    listed $149,900 Active
31. 2007-05-09
    soldstatus $52,000

ⓘ 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: $1,023 · $85/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: +$297/yr (+$25/mo · 29.1%)

ⓘ 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: $9,741
• − Mortgage interest: −$5,882
• − Property taxes: −$1,023
• − Insurance: −$525
• − Repairs & maintenance: −$779
• − Management: −$779
• − Depreciation: −$3,055
• Taxable loss: −$2,301
• Est. tax savings @ 24.0%: +$552
• After-tax cash flow: $93/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

+101.9% since first listed

16 events — show timeline

• 2026-05-12 Price Changed $105,000 MiRealSource-MiMLS
• 2026-05-12 Price Changed $105,000 REALCOMP
• 2026-04-07 Listed $115,000 REALCOMP
• 2026-04-06 Listed $115,000 MiRealSource-MiMLS
• 2023-09-06 Sold (Public Records) $124,000 Public Records
• 2023-08-31 Sold (MLS) $124,000 MiRealSource-MiMLS
• 2023-08-31 Sold (MLS) $124,000 REALCOMP
• 2023-07-25 Pending — REALCOMP
• 2023-07-25 Pending — MiRealSource-MiMLS
• 2023-04-19 Price Changed $135,000 MiRealSource-MiMLS
• 2023-04-19 Price Changed $135,000 REALCOMP
• 2023-03-04 Price Changed $144,900 MiRealSource-MiMLS
• 2023-03-04 Price Changed $144,900 REALCOMP
• 2023-01-31 Listed $149,900 MiRealSource-MiMLS
• 2023-01-31 Listed $149,900 REALCOMP
• 2007-05-09 Sold (Public Records) $52,000 Public Records

Property tax history

-2.4%/yr

Latest (2025): $1,023 · -35.5% YoY. Source: county tax records.