1038 W Pine Ave · Mount Morris, MI 48458

$64,000

2 bd · 1.0 ba · 948 sqft · SingleFamily · 37 Days on market

Built 1940 0.34 ac lot Est $124k · 48% under ↓ 7% since listing

---

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 +28.5/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the Pinehurst subdivision area of Mount Morris, this updated ranch-style home offers a convenient location near schools, parks, shopping, dining, and major commuter routes including I-475 and I-75. Situated in an established residential neighborhood with mature trees and spacious lots, the property provides a quiet small-town atmosphere while remaining just minutes from the greater Flint area amenities. This 2-bedroom, 1-bath home features approximately 720 square feet of living space with numerous updates throughout. Interior highlights include refreshed flooring, updated mechanicals, an efficient layout, and included kitchen appliances. The property also offers a detached garage, blacktop driveway, and a generously sized yard with room for outdoor entertaining, gardening, or future improvements. Ideal for first-time buyers, downsizers, or investors seeking a move-in-ready opportunity in Mount Morris. Please note this property is being sold AS-IS, and the Seller will not pay the owner's title policy at closing.

Key facts

• Convenient location
• Refreshed flooring
• Spacious lots

Tags

• UPDATED RANCH-STYLE HOME
• CONVENIENT LOCATION
• MATURE TREES
• SPACIOUS LOTS
• NUMEROUS UPDATES
• REFRESHED FLOORING

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story; Ground-level entry with steps
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Paved road access; Lot dimensions approx. 146 x 100 x 147 x 99; Lot size about 0.34 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Crawl space basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($965 rent vs $64k).
• Recommended offer: $62k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $442 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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: property tax is 3.6% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,080 (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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.51% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.03%
• DSCR: 1.62
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $124,188
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1051 Pinehurst Blvd	0.06mi	2/1.0	956 (+1%)	1mo	$159,500	$167	95
1031 E Pine Ave	0.13mi	2/1.5	900 (-5%)	0mo	$125,000	$139	83
766 Louisa St	0.28mi	3/1.0 (+1)	960 (+1%)	3mo	$91,000	$95	77
643 Roosevelt Ave	0.28mi	3/1.0 (+1)	1,008 (+6%)	2mo	$99,000	$98	69
1201 Thelma St	0.45mi	3/1.0 (+1)	1,000 (+6%)	1mo	$146,000	$146	64
755 Alexandrine Ave	0.22mi	2/1.0	1,087 (+15%)	7mo	$140,000	$129	59
1126 Paul St	0.50mi	3/1.0 (+1)	990 (+4%)	7mo	$130,000	$131	58
8021 Benson Rd	0.68mi	2/1.0	920 (-3%)	10mo	$98,500	$107	55
1132 Wisner St	0.33mi	2/1.0	815 (-14%)	7mo	$85,500	$105	55
1297 Garfield Ave	0.71mi	3/1.0 (+1)	925 (-2%)	10mo	$129,900	$140	50
1298 Garfield Ave	0.72mi	3/1.0 (+1)	912 (-4%)	9mo	$150,000	$164	48
1243 Howard St	0.71mi	3/1.0 (+1)	1,032 (+9%)	1mo	$125,000	$121	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: 4.4%
• Equity multiple: 1.17×
• Total profit: $3,056
• Equity at exit: $9,543

10-year hold

• IRR: 14.0%
• Equity multiple: 2.13×
• Total profit: $20,179
• Equity at exit: $5,534

Cash invested: $17,920 (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: 5.5×

Monthly cashflow live

• Estimated rent: $965 high
• Mortgage (P&I): −$336
• Tax from tax record: −$191 /mo · $2,287/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $210

Break-even live

Break-even rent $700

Max offer price $64,000

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	13d	4	0.31mi
9070 N Saginaw Rd Apt 223 Mt Morris, MI	1.0	1.0	588	$845	$1.44	43d	1	0.63mi
9070 N Saginaw Rd Apt 128 Mt Morris, MI	1.0	1.0	588	$845	$1.44	13d	1	0.63mi
9070 N Saginaw Rd Apt 201 Mt Morris, MI	2.0	1.0	700	$940	$1.34	13d	1	0.63mi
9070 N Saginaw Rd Mt Morris, MI	1.0	1.0	588	$820	$1.39	43d	1	0.64mi

Listing history 44 events

1. 2026-06-18
   days on market $64,000 Active 37 DOM
2. 2026-06-17
   days on market $64,000 Active 36 DOM
3. 2026-06-16
   days on market $64,000 Active 35 DOM
4. 2026-06-15
   days on market $64,000 Active 34 DOM
5. 2026-06-14
   days on market $64,000 Active 32 DOM
6. 2026-06-13
   days on market $64,000 Active 31 DOM
7. 2026-06-10
   days on market $64,000 Active 29 DOM
8. 2026-06-09
   days on market $64,000 Active 28 DOM
9. 2026-06-08
   days on market $64,000 Active 27 DOM
10. 2026-06-07
    days on market $64,000 Active 26 DOM
11. 2026-06-03
    days on market $64,000 Active 22 DOM
12. 2026-06-02
    days on market $64,000 Active 21 DOM
13. 2026-06-01
    days on market $64,000 Active 20 DOM
14. 2026-05-31
    days on market $64,000 Active 19 DOM
15. 2026-05-30
    days on market $64,000 Active 18 DOM
16. 2026-05-12
    listed $64,000 Active 1038-char remark

    Show marketing remark (1038 chars)

    Located in the Pinehurst subdivision area of Mount Morris, this updated ranch-style home offers a convenient location near schools, parks, shopping, dining, and major commuter routes including I-475 and I-75. Situated in an established residential neighborhood with mature trees and spacious lots, the property provides a quiet small-town atmosphere while remaining just minutes from the greater Flint area amenities. This 2-bedroom, 1-bath home features approximately 720 square feet of living space with numerous updates throughout. Interior highlights include refreshed flooring, updated mechanicals, an efficient layout, and included kitchen appliances. The property also offers a detached garage, blacktop driveway, and a generously sized yard with room for outdoor entertaining, gardening, or future improvements. Ideal for first-time buyers, downsizers, or investors seeking a move-in-ready opportunity in Mount Morris. Please note this property is being sold AS-IS, and the Seller will not pay the owner's title policy at closing.

17. 2026-05-12
    listed $64,000 Active

    Show marketing remark (1038 chars)

    Located in the Pinehurst subdivision area of Mount Morris, this updated ranch-style home offers a convenient location near schools, parks, shopping, dining, and major commuter routes including I-475 and I-75. Situated in an established residential neighborhood with mature trees and spacious lots, the property provides a quiet small-town atmosphere while remaining just minutes from the greater Flint area amenities. This 2-bedroom, 1-bath home features approximately 720 square feet of living space with numerous updates throughout. Interior highlights include refreshed flooring, updated mechanicals, an efficient layout, and included kitchen appliances. The property also offers a detached garage, blacktop driveway, and a generously sized yard with room for outdoor entertaining, gardening, or future improvements. Ideal for first-time buyers, downsizers, or investors seeking a move-in-ready opportunity in Mount Morris. Please note this property is being sold AS-IS, and the Seller will not pay the owner's title policy at closing.

18. 2025-12-02
    historical
19. 2025-12-02
    historical
20. 2025-09-30
    price $87,000
21. 2025-09-30
    price $87,000
22. 2025-09-13
    price $89,500
23. 2025-09-12
    price $89,500
24. 2025-08-20
    price $91,000
25. 2025-08-20
    price $91,000
26. 2025-08-09
    price $94,000
27. 2025-08-08
    price $94,000
28. 2025-07-30
    price $95,000
29. 2025-07-30
    price $95,000
30. 2025-07-22
    price $97,000
31. 2025-07-22
    price $97,000
32. 2025-07-18
    price $100,000
33. 2025-07-17
    price $100,000
34. 2025-07-11
    price $107,500
35. 2025-07-10
    price $107,500
36. 2025-05-21
    listed $110,000 Active
37. 2025-05-21
    listed $110,000 Active
38. 2025-05-20
    historical
39. 2020-07-28
    soldstatus $79,900
40. 2020-07-24
    soldstatus $79,900 Sold
41. 2020-06-04
    status Pending
42. 2020-06-04
    price $79,900
43. 2020-02-20
    listed $74,900 Active
44. 2003-10-30
    soldstatus $68,800

ⓘ 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: $2,287 · $191/mo
• Projected year-2 tax: $2,287 · $191/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 · 14 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: $11,580
• − Mortgage interest: −$3,585
• − Property taxes: −$2,287
• − Insurance: −$320
• − Repairs & maintenance: −$926
• − Management: −$926
• − Depreciation: −$1,862
• Taxable income: $1,674
• Est. tax owed @ 24.0%: −$402
• After-tax cash flow: $2,112/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: 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

• 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

-7.0% since first listed

29 events — show timeline

• 2026-05-12 Listed $64,000 REALCOMP
• 2026-05-12 Listed $64,000 MiRealSource-MiMLS
• 2025-12-02 Listing Removed — REALCOMP
• 2025-12-02 Listing Removed — MiRealSource-MiMLS
• 2025-09-30 Price Changed $87,000 MiRealSource-MiMLS
• 2025-09-30 Price Changed $87,000 REALCOMP
• 2025-09-13 Price Changed $89,500 MiRealSource-MiMLS
• 2025-09-12 Price Changed $89,500 REALCOMP
• 2025-08-20 Price Changed $91,000 MiRealSource-MiMLS
• 2025-08-20 Price Changed $91,000 REALCOMP
• 2025-08-09 Price Changed $94,000 MiRealSource-MiMLS
• 2025-08-08 Price Changed $94,000 REALCOMP
• 2025-07-30 Price Changed $95,000 MiRealSource-MiMLS
• 2025-07-30 Price Changed $95,000 REALCOMP
• 2025-07-22 Price Changed $97,000 MiRealSource-MiMLS
• 2025-07-22 Price Changed $97,000 REALCOMP
• 2025-07-18 Price Changed $100,000 MiRealSource-MiMLS
• 2025-07-17 Price Changed $100,000 REALCOMP
• 2025-07-11 Price Changed $107,500 MiRealSource-MiMLS
• 2025-07-10 Price Changed $107,500 REALCOMP
• 2025-05-21 Listed $110,000 REALCOMP
• 2025-05-21 Listed $110,000 MiRealSource-MiMLS
• 2025-05-20 Coming Soon — MiRealSource-MiMLS
• 2020-07-28 Sold (Public Records) $79,900 Public Records
• 2020-07-24 Sold (MLS) $79,900 REALCOMP
• 2020-06-04 Pending — REALCOMP
• 2020-06-04 Price Changed $79,900 REALCOMP
• 2020-02-20 Listed $74,900 REALCOMP
• 2003-10-30 Sold (Public Records) $68,800 Public Records

Property tax history

+8.8%/yr

Latest (2025): $2,287 · +1.9% YoY. Source: county tax records.