1362 W Princeton Ave · Mount Morris, MI 48505

$17,000

3 bd · 1.0 ba · 1,034 sqft · SingleFamily · 39 Days on market

Built 1960 0.49 ac lot $16/sqft · 55% below area ↓ 24% since listing

---

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
• Appreciation +6.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0

Listing remarks MLS

Investor Special. Full rehab needed. Make offer!

Key facts

• 0.49 acre lot
• Built 1960
• Listed 39 days

Property features AI

Finance

• Other: Residential property type; Subdivision: FAIRHAVEN; Cross streets: Chestnut / Detroit
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Aluminum siding construction
• Exterior features: Aluminum siding; Lot approximately 0.49 acres; Lot size dimensions reported as 21344

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Has basement; Three total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $17k.

Deal economics

• At list price, monthly cash flow is $695 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $17k).
• Recommended offer: $16k (3.0% below list) — sets the bar for market timing.
• Cap rate 55.4% 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.
• Beecher Community School District (suburban): math 7% / reading 10% proficiency, ranked #722 of 760 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 99 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• This rent runs 37% of the median local income ($33k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $573 of equity ($118 loan paydown + $455 appreciation (2.7% local appreciation)).
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $5k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 6 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.
• Current owner paid $10k; list at $17k implies a 70% gain — meaningful room to come down on a strong offer.

Recommended offer $16,490 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 6.05% ✓
• Cap rate: 55.38%
• Cash-on-cash: 175.30%
• DSCR: 8.80
• GRM: 1.4

CMA / ARV

• ARV (median comp): $37,944
• List price: $17,000
• Delta: -55.20%
• 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
1395 W Yale Ave	0.11mi	3/1.0	1,002 (-3%)	3mo	$8,800	$9	87
1199 Peachtree Dr	0.46mi	3/1.5	1,000 (-3%)	10mo	$54,000	$54	62
5444 Mendel Berger Dr	0.72mi	3/1.0	1,000 (-3%)	0mo	$42,500	$43	61
1061 Harvard Ave	0.57mi	3/1.0	960 (-7%)	2mo	$57,500	$60	60
5516 Mendel Berger Dr	0.74mi	3/1.0	1,035 (+0%)	9mo	$15,250	$15	58
6069 Natchez Dr	0.43mi	3/1.0	900 (-13%)	2mo	$65,000	$72	57
5395 Stiffler Rd	0.39mi	3/2.0	912 (-12%)	6mo	$10,000	$11	53
5428 Farmhill Rd	0.48mi	3/1.5	923 (-11%)	9mo	$45,000	$49	50
6117 Penwood Rd	0.56mi	2/1.5 (-1)	985 (-5%)	12mo	$79,900	$81	49
1050 W Kurtz Ave	0.64mi	3/1.0	960 (-7%)	11mo	$82,500	$86	49
1148 N Cornell Ave	0.43mi	2/1.0 (-1)	900 (-13%)	10mo	$24,250	$27	45
2162 W Coldwater Rd	0.70mi	3/1.0	888 (-14%)	9mo	$101,000	$114	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.68×
• Total profit: $46,060
• Equity at exit: $7,334

10-year hold

• IRR: —
• Equity multiple: 22.49×
• Total profit: $102,293
• Equity at exit: $11,067

Cash invested: $4,760 (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 48505

• Home prices YoY: 1.3%
• Active inventory: 99
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,029 high
• Mortgage (P&I): −$89
• Tax est. 1.5%: −$21 /mo · $255/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $695

Break-even live

Break-even rent $149

Max offer price $17,000

Occupancy floor 27%

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: $4,250
• Closing costs: $510
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6113 Natchez Dr Mount Morris, MI	3.0	1.0	1100	$990	$0.90	43d	1	0.51mi
6230 Natchez Dr Mount Morris, MI	3.0	1.0	1060	$1,000	$0.94	13d	1	0.73mi
2216 Obrien Rd Mount Morris, MI	3.0	2.0	1080	$1,000	$0.93	13d	1	0.77mi
1 Sunny Ln Mount Morris, MI	3.0	2.0	1100	$1,100	$1.00	43d	1	0.82mi
6203 Hilton Ln Mount Morris, MI	3.0	1.0	860	$900	$1.05	43d	1	0.86mi
514 W Alma Ave Flint, MI	3.0	1.0	894	$925	$1.03	13d	1	0.89mi
246 E York Ave Flint, MI	2.0	1.0	800	$895	$1.12	13d	1	0.90mi
6802 DuPont St Flint, MI	3.0	1.0	1200	$1,000	$0.83	21d	1	0.93mi
5280 Cedar Shores Ct Flint, MI	2.0–3.0	2.0	1150	$1,148	$1.00	13d	6	1.18mi
7028 Rosewood Dr Mt Morris, MI	2.0	1.0	967	$1,020	$1.05	13d	1	1.34mi
5813 Edwards Ave Flint, MI	3.0	1.0	1500	$899	$0.60	13d	1	1.42mi
100 Rosewood Mnr Flint, MI	2.0	1.5	1159	$947	$0.82	13d	1	1.50mi

Listing history 33 events

1. 2026-06-18
   days on market $17,000 Active 39 DOM
2. 2026-06-17
   days on market $17,000 Active 38 DOM
3. 2026-06-16
   days on market $17,000 Active 37 DOM
4. 2026-06-15
   days on market $17,000 Active 36 DOM
5. 2026-06-14
   days on market $17,000 Active 34 DOM
6. 2026-06-13
   days on market $17,000 Active 33 DOM
7. 2026-06-10
   days on market $17,000 Active 31 DOM
8. 2026-06-09
   days on market $17,000 Active 30 DOM
9. 2026-06-08
   days on market $17,000 Active 29 DOM
10. 2026-06-07
    days on market $17,000 Active 28 DOM
11. 2026-06-03
    days on market $17,000 Active 24 DOM
12. 2026-06-02
    days on market $17,000 Active 23 DOM
13. 2026-06-01
    days on market $17,000 Active 22 DOM
14. 2026-05-31
    days on market $17,000 Active 21 DOM
15. 2026-05-30
    days on market $17,000 Active 20 DOM
16. 2026-05-11
    listed $17,000 Active 48-char remark
17. 2026-05-10
    listed $17,000 Active 48-char remark

    Show marketing remark (48 chars)

    Investor Special. Full rehab needed. Make offer!

18. 2020-11-06
    soldstatus $10,000 Sold

    Show marketing remark (9 chars)

    To Follow

19. 2020-11-06
    soldstatus $10,000 Closed

    Show marketing remark (9 chars)

    To Follow

20. 2020-11-05
    status Pending

    Show marketing remark (9 chars)

    To Follow

21. 2020-11-05
    status Pending

    Show marketing remark (9 chars)

    To Follow

22. 2020-11-02
    price $9,999

    Show marketing remark (9 chars)

    To Follow

23. 2020-11-02
    price $9,999

    Show marketing remark (9 chars)

    To Follow

24. 2020-10-21
    price $11,000

    Show marketing remark (9 chars)

    To Follow

25. 2020-10-21
    price $11,000

    Show marketing remark (9 chars)

    To Follow

26. 2020-10-20
    status Active

    Show marketing remark (9 chars)

    To Follow

27. 2020-10-20
    status Active

    Show marketing remark (9 chars)

    To Follow

28. 2020-09-25
    status Pending

    Show marketing remark (9 chars)

    To Follow

29. 2020-09-25
    status Pending

    Show marketing remark (9 chars)

    To Follow

30. 2020-09-24
    price $14,500
31. 2020-09-23
    price $14,500

    Show marketing remark (9 chars)

    To Follow

32. 2020-09-22
    listed $22,500 Active

    Show marketing remark (9 chars)

    To Follow

33. 2020-09-22
    listed $22,500 Active

    Show marketing remark (9 chars)

    To Follow

ⓘ 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 ≥97°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: $12,347
• − Mortgage interest: −$952
• − Property taxes: −$255
• − Insurance: −$85
• − Repairs & maintenance: −$988
• − Management: −$988
• − Depreciation: −$495
• Taxable income: $8,585
• Est. tax owed @ 24.0%: −$2,060
• After-tax cash flow: $6,284/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: Beecher Community School District
• NCES district ID: 2604500
• Math proficiency: 7% ▲ 3.00%
• Reading proficiency: 10% ▼ -2.00%
• Median HH income: $27,719
• Composite: 9.96/100
• National rank: #14685
• State rank: #722 of 760 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: Beecher, MI
• County: Genesee County · 221,329 people
• City population: 19,519
• Metro: Flint, MI
• Population (ZIP): 18,032
• Household income: $33,283
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 960.0

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 Black (79%)
• Race & ethnicity: Black 79% White 11% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▲ 2.67%
• Current HPI: 202.4878
• 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

-24.4% since first listed

18 events — show timeline

• 2026-05-11 Listed $17,000 REALCOMP
• 2026-05-10 Listed $17,000 MiRealSource-MiMLS
• 2020-11-06 Sold (MLS) $10,000 MiRealSource-MiMLS
• 2020-11-06 Sold (MLS) $10,000 REALCOMP
• 2020-11-05 Pending — MiRealSource-MiMLS
• 2020-11-05 Pending — REALCOMP
• 2020-11-02 Price Changed $9,999 MiRealSource-MiMLS
• 2020-11-02 Price Changed $9,999 REALCOMP
• 2020-10-21 Price Changed $11,000 MiRealSource-MiMLS
• 2020-10-21 Price Changed $11,000 REALCOMP
• 2020-10-20 Relisted — MiRealSource-MiMLS
• 2020-10-20 Relisted — REALCOMP
• 2020-09-25 Pending — MiRealSource-MiMLS
• 2020-09-25 Pending — REALCOMP
• 2020-09-24 Price Changed $14,500 MiRealSource-MiMLS
• 2020-09-23 Price Changed $14,500 REALCOMP
• 2020-09-22 Listed $22,500 MiRealSource-MiMLS
• 2020-09-22 Listed $22,500 REALCOMP

Property tax history

+2.5%/yr

Latest (2025): $1,287 · +2.3% YoY. Source: county tax records.