8542 Morris Rd · Wales, MI 48027

$82,000

3 bd · 1.5 ba · 1,311 sqft · SingleFamily · 66 Days on market

Built 1910 1.26 ac lot $63/sqft · 66% below area

---

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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into the charm and character of this classic Victorian-style home set on a spacious 1.26-acre lot. Brimming with potential, this 3-bedroom, 1.5-bath property is the perfect opportunity for buyers looking to restore and customize a timeless beauty. The main level features a traditional layout with a generously sized kitchen, formal dining room, and inviting living room. The primary suite is conveniently located on the first floor and includes a cozy fireplace, offering a warm and private retreat. A laundry area and half bath complete the main level for added convenience. Upstairs, you'll find two large bedrooms and a full bathroom, providing ample space. With its classic architecture, expansive yard, and functional layout, this home is a true fixer-upper ready for your vision. Whether you're an investor or a buyer looking to create your dream home, the possibilities here are endless! "Due to condition, the property may have health/safety risk(s). Prior to entry / access, all parties must sign a Hold Harmless Agreement and the property may only be shown by appointment. " For more information regarding Vendee: https://vrmlending.com/faq/

Key facts

• Formal dining room
• Expansive yard
• Spacious lot

Tags

• SPACIOUS LOT
• GENEROUSLY SIZED KITCHEN
• FORMAL DINING ROOM
• INVITING LIVING ROOM
• COZY FIREPLACE
• EXPANSIVE YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $77k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Yale Public Schools (rural): math 40% / reading 62% proficiency, ranked #92 of 540 in MI (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 16 active listings in the ZIP; 232 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $567 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• St. Clair County population projected at -20% 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 $23k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 23y 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: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,080 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1910 — 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. 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.
6. 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.
7. 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: 1.44% ✓
• Cap rate: 12.05%
• Cash-on-cash: 20.55%
• DSCR: 1.91
• GRM: 5.8

CMA / ARV

• ARV (median comp): $242,491
• List price: $82,000
• Delta: -66.18%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2595 Wales Center Rd Rd	0.73mi	2/1.0 (-1)	1,229 (-6%)	23mo	$210,000	$171	30

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: 12.9%
• Equity multiple: 1.51×
• Total profit: $11,756
• Equity at exit: $12,226

10-year hold

• IRR: 21.7%
• Equity multiple: 2.85×
• Total profit: $42,491
• Equity at exit: $7,090

Cash invested: $22,960 (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 48027

• Home prices YoY: -34.4%
• Active inventory: 16
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,183 medium
• Mortgage (P&I): −$430
• Tax from tax record: −$78 /mo · $931/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $393

Break-even live

Break-even rent $686

Max offer price $82,000

Occupancy floor 62%

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Listing history 46 events

1. 2026-06-18
   days on market $82,000 Active 66 DOM
2. 2026-06-17
   days on market $82,000 Active 65 DOM
3. 2026-06-16
   days on market $82,000 Active 64 DOM
4. 2026-06-15
   days on market $82,000 Active 63 DOM
5. 2026-06-13
   days on market $82,000 Active 61 DOM
6. 2026-06-10
   status $82,000 Active 57 DOM
7. 2026-06-09
   days on market $82,000 Active Under Contract 57 DOM
8. 2026-06-08
   days on market $82,000 Active Under Contract 56 DOM
9. 2026-06-07
   days on market $82,000 Active Under Contract 55 DOM
10. 2026-06-04
    statusdays on market $82,000 Active Under Contract 52 DOM
11. 2026-06-03
    days on market $82,000 Active 51 DOM
12. 2026-06-02
    days on market $82,000 Active 50 DOM
13. 2026-06-01
    days on market $82,000 Active 49 DOM
14. 2026-05-31
    days on market $82,000 Active 48 DOM
15. 2026-04-13
    listed $82,000 Active 1169-char remark

    Show marketing remark (1175 chars)

    Step into the charm and character of this classic Victorian-style home set on a spacious 1.26-acre lot. Brimming with potential, this 3-bedroom, 1.5-bath property is the perfect opportunity for buyers looking to restore and customize a timeless beauty. The main level features a traditional layout with a generously sized kitchen, formal dining room, and inviting living room. The primary suite is conveniently located on the first floor and includes a cozy fireplace, offering a warm and private retreat. A laundry area and half bath complete the main level for added convenience. Upstairs, you’ll find two large bedrooms and a full bathroom, providing ample space. With its classic architecture, expansive yard, and functional layout, this home is a true fixer-upper ready for your vision. Whether you're an investor or a buyer looking to create your dream home, the possibilities here are endless! "Due to condition, the property may have health/safety risk(s). Prior to entry / access, all parties must sign a Hold Harmless Agreement and the property may only be shown by appointment. " For more information regarding Vendee: https://vrmlending.com/faq/

16. 2026-04-13
    listed $82,000 Active 1175-char remark

    Show marketing remark (1175 chars)

    Step into the charm and character of this classic Victorian-style home set on a spacious 1.26-acre lot. Brimming with potential, this 3-bedroom, 1.5-bath property is the perfect opportunity for buyers looking to restore and customize a timeless beauty. The main level features a traditional layout with a generously sized kitchen, formal dining room, and inviting living room. The primary suite is conveniently located on the first floor and includes a cozy fireplace, offering a warm and private retreat. A laundry area and half bath complete the main level for added convenience. Upstairs, you’ll find two large bedrooms and a full bathroom, providing ample space. With its classic architecture, expansive yard, and functional layout, this home is a true fixer-upper ready for your vision. Whether you're an investor or a buyer looking to create your dream home, the possibilities here are endless! "Due to condition, the property may have health/safety risk(s). Prior to entry / access, all parties must sign a Hold Harmless Agreement and the property may only be shown by appointment. " For more information regarding Vendee: https://vrmlending.com/faq/

17. 2025-08-26
    status Pending
18. 2025-08-26
    status Pending
19. 2025-08-25
    historical
20. 2025-07-14
    historical Active Under Contract
21. 2025-07-14
    historical Accepting Backup Offers
22. 2025-05-02
    price $125,000
23. 2025-05-01
    price $125,000
24. 2025-04-15
    listed $145,000 Active
25. 2025-04-15
    listed $145,000 Active
26. 2025-04-14
    historical
27. 2025-01-31
    historical
28. 2025-01-31
    historical
29. 2024-07-30
    listed $155,000 Active
30. 2024-07-30
    listed $155,000 Active
31. 2023-01-27
    soldstatus $144,000
32. 2023-01-12
    soldstatus $144,000 Closed
33. 2023-01-12
    soldstatus $144,000
34. 2022-12-05
    status Pending
35. 2022-11-08
    historical Accepting Backup Offers
36. 2022-08-23
    price $144,900
37. 2022-08-05
    listed $149,900 Active
38. 2022-08-05
    listed $144,900
39. 2011-08-17
    soldstatus $18,900
40. 2011-08-05
    historical
41. 2011-06-27
    listed $19,900
42. 2003-11-19
    soldstatus $81,000
43. 2003-10-31
    soldstatus $81,000
44. 2003-10-10
    historical
45. 2003-09-21
    listed $79,900
46. 2003-09-18
    listed $79,900

ⓘ 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: $931 · $78/mo
• Projected year-2 tax: $1,097 · $91/mo
• Expected delta: +$166/yr (+$14/mo · 17.8%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,201
• − Mortgage interest: −$4,593
• − Property taxes: −$931
• − Insurance: −$410
• − Repairs & maintenance: −$1,136
• − Management: −$1,136
• − Depreciation: −$2,385
• Taxable income: $3,610
• Est. tax owed @ 24.0%: −$866
• After-tax cash flow: $3,852/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: Yale Public Schools
• NCES district ID: 2636600
• Math proficiency: 40% ▼ -11.00%
• Reading proficiency: 62% ▼ -8.00%
• Median HH income: $53,116
• Composite: 43.83/100
• National rank: #2926
• State rank: #92 of 540 in MI

Livability — Wales

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 3,182

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 154,587 people
• By 2030: 150,031 · -2.9%
• By 2040: 138,177 · -10.6%
• By 2050: 124,390 · -19.5%
• By 2075: 95,825 · -38.0%
• By 2100: 68,672 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 9% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 9% Lithuanian 2% English 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · German/W. Germanic 1% Other Indo-European 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.4%
• 2008→2024 swing: -37.3pp toward R · 2008: 2.6pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+30.2 2016: R+31.4 2012: R+7.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -95.48%
• Current HPI: 181.8901
• 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

+2.6% since first listed

32 events — show timeline

• 2026-04-13 Listed $82,000 REALCOMP
• 2026-04-13 Listed $82,000 MiRealSource-MiMLS
• 2025-08-26 Pending — REALCOMP
• 2025-08-26 Pending — MiRealSource-MiMLS
• 2025-08-25 Listing Removed — MiRealSource-MiMLS
• 2025-07-14 Contingent — REALCOMP
• 2025-07-14 Contingent — MiRealSource-MiMLS
• 2025-05-02 Price Changed $125,000 MiRealSource-MiMLS
• 2025-05-01 Price Changed $125,000 REALCOMP
• 2025-04-15 Listed $145,000 REALCOMP
• 2025-04-15 Listed $145,000 MiRealSource-MiMLS
• 2025-04-14 Coming Soon — MiRealSource-MiMLS
• 2025-01-31 Listing Removed — REALCOMP
• 2025-01-31 Listing Removed — MiRealSource-MiMLS
• 2024-07-30 Listed $155,000 MiRealSource-MiMLS
• 2024-07-30 Listed $155,000 REALCOMP
• 2023-01-27 Sold (Public Records) $144,000 Public Records
• 2023-01-12 Sold (MLS) $144,000 REALCOMP
• 2023-01-12 Sold (MLS) $144,000 MiRealSource-MiMLS
• 2022-12-05 Pending — MiRealSource-MiMLS
• 2022-11-08 Contingent — MiRealSource-MiMLS
• 2022-08-23 Price Changed $144,900 MiRealSource-MiMLS
• 2022-08-05 Listed $144,900 REALCOMP
• 2022-08-05 Listed $149,900 MiRealSource-MiMLS
• 2011-08-17 Sold (MLS) $18,900 MiRealSource-MiMLS
• 2011-08-05 Listing Removed — MiRealSource-MiMLS
• 2011-06-27 Listed $19,900 MiRealSource-MiMLS
• 2003-11-19 Sold (MLS) $81,000 REALCOMP
• 2003-10-31 Sold (MLS) $81,000 MiRealSource-MiMLS
• 2003-10-10 Listing Removed — MiRealSource-MiMLS
• 2003-09-21 Listed $79,900 REALCOMP
• 2003-09-18 Listed $79,900 MiRealSource-MiMLS

Property tax history

+0.5%/yr

Latest (2025): $931 · +638.7% YoY. Source: county tax records.