None · Morrice, MI 48857

$120,000

3 bd · 2.5 ba · 2,563 sqft · SingleFamily · 1 Days on market

Built 2002 0.34 ac lot

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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).

• Cash flow +26.7/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• Livability +3.4/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice home in a great neighborhood! Large living room, open kitchen and dining area. Hardwood floors and large basement ready to be finished. Great neighborhood with large 1 acre fenced in lot and walking distance to downtown Morrice. 30 min to Lansing & Flint. Many updates including Hot Water Heater, 90+ High Efficiency Furnace & Sump-Pump.

Key facts

• 0.34 acre lot
• 2 garage spots
• Built 2002

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).

Location & tenants

• Location reads 68/100 on livability (#364 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, schools D, amenities F.
• Morrice Area Schools (rural): math 20% / reading 43% proficiency, ranked #323 of 540 in MI (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 14 active listings in the ZIP; 74 units permitted in Shiawassee County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Shiawassee County population projected at -25% 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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.

Recommended offer $120,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.24% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.54%
• DSCR: 1.51
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $738,144
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
612 W Bath Rd	0.65mi	4/4.0 (+1)	2,382 (-7%)	7mo	$685,000	$288	41

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: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,171
• Equity at exit: $17,892

10-year hold

• IRR: 10.6%
• Equity multiple: 1.82×
• Total profit: $27,672
• Equity at exit: $10,375

Cash invested: $33,600 (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 48857

• Home prices YoY: -7.5%
• Active inventory: 14
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,492 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$176 /mo · $2,111/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $323

Break-even live

Break-even rent $1,083

Max offer price $120,000

Occupancy floor 73%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2021-04-06
   historical
2. 2017-04-13
   soldstatus $137,600
3. 2017-04-07
   soldstatus $120,000 354-char remark

   Show marketing remark (354 chars)

   Nice home in a great neighborhood! Large living room, open kitchen and dining area. Hardwood floors and large basement ready to be finished. Great neighborhood with large 1 acre fenced in lot and walking distance to downtown Morrice. 30 min to Lansing & Flint. Many updates including Hot Water Heater, 90+ High Efficiency Furnace & Sump-Pump.

4. 2017-04-07
   soldstatus $120,000

   Show marketing remark (354 chars)

   Nice home in a great neighborhood! Large living room, open kitchen and dining area. Hardwood floors and large basement ready to be finished. Great neighborhood with large 1 acre fenced in lot and walking distance to downtown Morrice. 30 min to Lansing & Flint. Many updates including Hot Water Heater, 90+ High Efficiency Furnace & Sump-Pump.

5. 2016-02-26
   historical
6. 2016-02-26
   historical
7. 2015-08-21
   listed $120,000
8. 2015-08-21
   listed $120,000
9. 2015-08-13
   listed $120,000 354-char remark

   Show marketing remark (354 chars)

   Nice home in a great neighborhood! Large living room, open kitchen and dining area. Hardwood floors and large basement ready to be finished. Great neighborhood with large 1 acre fenced in lot and walking distance to downtown Morrice. 30 min to Lansing & Flint. Many updates including Hot Water Heater, 90+ High Efficiency Furnace & Sump-Pump.

10. 2015-08-13
    listed $120,000

    Show marketing remark (354 chars)

    Nice home in a great neighborhood! Large living room, open kitchen and dining area. Hardwood floors and large basement ready to be finished. Great neighborhood with large 1 acre fenced in lot and walking distance to downtown Morrice. 30 min to Lansing & Flint. Many updates including Hot Water Heater, 90+ High Efficiency Furnace & Sump-Pump.

ⓘ 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: $2,111 · $176/mo
• Projected year-2 tax: $2,111 · $176/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,898
• − Mortgage interest: −$6,722
• − Property taxes: −$2,111
• − Insurance: −$600
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − Depreciation: −$3,491
• Taxable income: $2,111
• Est. tax owed @ 24.0%: −$507
• After-tax cash flow: $3,370/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: Morrice Area Schools
• NCES district ID: 2624630
• Math proficiency: 20% ▼ -5.00%
• Reading proficiency: 43% ▼ -1.00%
• Median HH income: $57,064
• Composite: 28.03/100
• National rank: #6845
• State rank: #323 of 540 in MI

Livability — Morrice

• Score: 68/100
• State rank: #364
• US rank: #9385

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Morrice, MI
• Population (ZIP): 3,488

Population outlook (Shiawassee County) Hauer SSP2

• Today (2025): 64,238 people
• By 2030: 61,434 · -4.4%
• By 2040: 55,054 · -14.3%
• By 2050: 48,426 · -24.6%
• By 2075: 35,995 · -44.0%
• By 2100: 26,678 · -58.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Italian 7% Lithuanian 6% Slovak 3%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Shiawassee

• 2024 margin: Strong R (+23.1) · D 37.7% · R 60.8% · Other 1.6%
• 2008→2024 swing: -31.7pp toward R · 2008: 8.6pp · 2024: -23.1pp
• All cycles: 2024: R+23.1 2020: R+19.9 2016: R+19.6 2012: D+3.7 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.21%
• Current HPI: 273.1644
• 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

+14.7% since first listed

10 events — show timeline

• 2021-04-06 Listing Removed — REALCOMP
• 2017-04-13 Sold (Public Records) $137,600 Public Records
• 2017-04-07 Sold (MLS) $120,000 MiRealSource-MiMLS
• 2017-04-07 Sold (MLS) $120,000 REALCOMP
• 2016-02-26 Listing Removed — Greater Lansing AoR
• 2016-02-26 Listing Removed — REALCOMP
• 2015-08-21 Listed $120,000 Greater Lansing AoR
• 2015-08-21 Listed $120,000 REALCOMP
• 2015-08-13 Listed $120,000 MiRealSource-MiMLS
• 2015-08-13 Listed $120,000 REALCOMP

Property tax history

-2.8%/yr

Latest (2025): $2,111 · -39.7% YoY. Source: county tax records.