1409 W Princeton Ave · Mount Morris, MI 48505

$69,000

3 bd · 1.0 ba · 864 sqft · SingleFamily · 62 Days on market

Built 1965 7,405 sqft lot $80/sqft · 87% above area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• 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

Wonderful newly remodled 3 Bedroom home. Close to all amenities and downtown. B. A. T. V. A. I

Key facts

• 7,405 sq ft lot
• Built 1965
• Listed 62 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $387 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $65k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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: 100 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 38% 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 $2k of equity ($477 loan paydown + $2k 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($65k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y ago; this cycle's ask has dropped $15k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $64,859 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.52% ✓
• Cap rate: 13.02%
• Cash-on-cash: 24.02%
• DSCR: 2.07
• GRM: 5.5

CMA / ARV

• ARV (median comp): $36,882
• List price: $69,000
• Delta: 87.08%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1498 W Genesee Ave	0.25mi	3/1.0	864 (0%)	7mo	$77,900	$90	82
1416 W Yale St	0.03mi	3/1.0	800 (-7%)	10mo	$35,900	$45	78
1297 W Kurtz Ave	0.33mi	3/1.0	852 (-1%)	6mo	$38,000	$45	77
6137 Natchez Dr	0.59mi	3/1.0	864 (0%)	2mo	$65,000	$75	71
6069 Natchez Dr	0.46mi	3/1.0	900 (+4%)	2mo	$65,000	$72	70
5395 Stiffler Rd	0.30mi	3/2.0	912 (+6%)	6mo	$10,000	$11	68
1510 Juliah Ave	0.55mi	3/1.0	864 (0%)	11mo	$39,969	$46	65
5428 Farmhill Rd	0.40mi	3/1.5	923 (+7%)	9mo	$45,000	$49	60
2162 W Coldwater Rd	0.63mi	3/1.0	888 (+3%)	9mo	$101,000	$114	59
1148 N Cornell Ave	0.51mi	2/1.0 (-1)	900 (+4%)	10mo	$24,250	$27	56
1434 Knickerbocker Ave	0.57mi	2/1.0 (-1)	800 (-7%)	0mo	$34,000	$43	56
1061 Harvard Ave	0.66mi	3/1.0	960 (+11%)	2mo	$57,500	$60	49

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: 29.5%
• Equity multiple: 2.64×
• Total profit: $31,757
• Equity at exit: $29,767

10-year hold

• IRR: 30.3%
• Equity multiple: 5.14×
• Total profit: $80,019
• Equity at exit: $44,919

Cash invested: $19,320 (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: 100
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,046 high
• Mortgage (P&I): −$362
• Tax from tax record: −$49 /mo · $589/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $387

Break-even live

Break-even rent $557

Max offer price $69,000

Occupancy floor 58%

Sensitivity live

Price	-10% $426	-5% $406	+0% $387	+5% $367	+10% $348
Rent	-10% $304	-5% $345	+0% $387	+5% $428	+10% $469
Rate	-1.0pp $422	-0.5pp $404	base $387	+0.5pp $369	+1.0pp $351

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6113 Natchez Dr Mount Morris, MI	3.0	1.0	1100	$990	$0.90	45d	1	0.52mi
2216 Obrien Rd Mount Morris, MI	3.0	2.0	1080	$1,000	$0.93	14d	1	0.68mi
6230 Natchez Dr Mount Morris, MI	3.0	1.0	1060	$1,000	$0.94	14d	1	0.74mi
6203 Hilton Ln Mount Morris, MI	3.0	1.0	860	$900	$1.05	45d	1	0.80mi
514 W Alma Ave Flint, MI	3.0	1.0	894	$925	$1.03	14d	1	0.88mi
1 Sunny Ln Mount Morris, MI	3.0	2.0	1100	$1,100	$1.00	45d	1	0.89mi
246 E York Ave Flint, MI	2.0	1.0	800	$895	$1.12	14d	1	0.94mi
5280 Cedar Shores Ct Flint, MI	2.0–3.0	2.0	1150	$1,148	$1.00	14d	6	1.08mi
7028 Rosewood Dr Mt Morris, MI	2.0	1.0	967	$1,020	$1.05	14d	1	1.35mi

Listing history 27 events

1. 2026-06-21
   days on market $69,000 Active 62 DOM
2. 2026-06-18
   days on market $69,000 Active 59 DOM
3. 2026-06-17
   days on market $69,000 Active 58 DOM
4. 2026-06-16
   days on market $69,000 Active 57 DOM
5. 2026-06-15
   days on market $69,000 Active 56 DOM
6. 2026-06-14
   days on market $69,000 Active 54 DOM
7. 2026-06-13
   days on market $69,000 Active 53 DOM
8. 2026-06-10
   days on market $69,000 Active 51 DOM
9. 2026-06-09
   days on market $69,000 Active 50 DOM
10. 2026-06-08
    days on market $69,000 Active 49 DOM
11. 2026-06-07
    days on market $69,000 Active 48 DOM
12. 2026-06-03
    days on market $69,000 Active 44 DOM
13. 2026-06-02
    days on market $69,000 Active 43 DOM
14. 2026-06-01
    pricedays on market $69,000 Active 42 DOM
15. 2026-05-31
    days on market $74,900 Active 41 DOM
16. 2026-05-30
    days on market $74,900 Active 40 DOM
17. 2026-05-08
    price $74,900 94-char remark

    Show marketing remark (94 chars)

    Wonderful newly remodled 3 Bedroom home. Close to all amenities and downtown. B. A. T. V. A. I

18. 2026-05-08
    price $74,900 94-char remark

    Show marketing remark (94 chars)

    Wonderful newly remodled 3 Bedroom home. Close to all amenities and downtown. B. A. T. V. A. I

19. 2026-05-01
    price $79,900 94-char remark

    Show marketing remark (94 chars)

    Wonderful newly remodled 3 Bedroom home. Close to all amenities and downtown. B. A. T. V. A. I

20. 2026-04-30
    price $79,900 94-char remark

    Show marketing remark (94 chars)

    Wonderful newly remodled 3 Bedroom home. Close to all amenities and downtown. B. A. T. V. A. I

21. 2026-04-20
    listed $83,900 Active 94-char remark

    Show marketing remark (94 chars)

    Wonderful newly remodled 3 Bedroom home. Close to all amenities and downtown. B. A. T. V. A. I

22. 2026-04-20
    listed $83,900 Active 94-char remark

    Show marketing remark (94 chars)

    Wonderful newly remodled 3 Bedroom home. Close to all amenities and downtown. B. A. T. V. A. I

23. 2002-06-28
    soldstatus $61,000
24. 2002-03-25
    soldstatus $12,610
25. 2002-03-25
    soldstatus $12,610
26. 2001-11-26
    listed $13,000
27. 2001-11-26
    listed $13,000

ⓘ 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: $589 · $49/mo
• Projected year-2 tax: $826 · $69/mo
• Expected delta: +$237/yr (+$20/mo · 40.2%)

ⓘ 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 ≥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: $12,554
• − Mortgage interest: −$3,865
• − Property taxes: −$589
• − Insurance: −$345
• − Repairs & maintenance: −$1,004
• − Management: −$1,004
• − Depreciation: −$2,007
• Taxable income: $3,739
• Est. tax owed @ 24.0%: −$897
• After-tax cash flow: $3,744/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

+476.2% since first listed

11 events — show timeline

• 2026-05-08 Price Changed $74,900 MiRealSource-MiMLS
• 2026-05-08 Price Changed $74,900 REALCOMP
• 2026-05-01 Price Changed $79,900 MiRealSource-MiMLS
• 2026-04-30 Price Changed $79,900 REALCOMP
• 2026-04-20 Listed $83,900 REALCOMP
• 2026-04-20 Listed $83,900 MiRealSource-MiMLS
• 2002-06-28 Sold (Public Records) $61,000 Public Records
• 2002-03-25 Sold (MLS) $12,610 REALCOMP
• 2002-03-25 Sold (MLS) $12,610 MiRealSource-MiMLS
• 2001-11-26 Listed $13,000 REALCOMP
• 2001-11-26 Listed $13,000 MiRealSource-MiMLS

Property tax history

+5.0%/yr

Latest (2022): $589 · +27.0% YoY. Source: county tax records.