1308 E High St · Union, MI 48858

$149,900

3 bd · 1.5 ba · 1,420 sqft · SingleFamily public records · 200 Days on market

Built 1952 9,583 sqft lot Est $176k · 15% under

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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).

• ARV discount +14.2/15.0
• Cash flow +13.6/30.0
• Rent growth +5.0/5.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Schools +3.3/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming Single-Family Home in the Heart of Mt. Pleasant Discover this inviting 3-bedroom, 1-bath single-family home offering 1,420 sq ft of living space in one of Mt. Pleasant’s most convenient locations. Key Features include: - Licensed Rental Property: Comes with a current single-family rental license, making it an excellent investment opportunity. - Prime Location: Just minutes from shopping, dining, Central Michigan University, Mid Michigan College, and local parks. - Spacious Layout: Comfortable floor plan with ample living space for families, students, or professionals. - Outdoor Enjoyment: Room for gardening, entertaining, or simply relaxing in your own yard. Why You’ll

Key facts

• Outdoor enjoyment
• Prime location
• 9,583 sq ft lot

Tags

• LICENSED RENTAL PROPERTY
• PRIME LOCATION
• OUTDOOR ENJOYMENT

Property features AI

Exterior

• Utilities: Natural gas heating (forced air); Public water; Public sanitary sewer
• Home design: Residential 2-story; Built in 1952; Entry faces south (property on south side of road)
• Construction: Vinyl siding; Basement foundation
• Exterior features: Road frontage

Interior

• Kitchen: Kitchen on main level (10 x 11); Dining room on main level (13 x 12)
• Bedrooms: Main-level bedroom (11 x 9); Second-floor bedroom (10 x 13); Second-floor bedroom (13 wide)
• Flooring: Carpet in two bedrooms; Laminate in bathroom
• Bathrooms: 1 full bathroom (main level); Bathroom with laminate flooring
• Interior features: Has basement; Breakfast nook (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $8 ($92/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (11.7% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Mt. Pleasant City School District (town): math 33% / reading 48% proficiency, ranked #229 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pullen Elementary School (327 students, 68% FRL); Fancher School (math 44% / reading 56%, grade D+, #371 of 1,397 statewide, top 27%, 406 students, 47% FRL); Mt Pleasant Senior High School (math 42% / reading 57%, grade D, #154 of 713 statewide, top 25%, 1,058 students, 42% FRL) — zoned schools average 53% FRL vs 36% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+16.9%/yr); 249 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 72 units permitted in Isabella County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Isabella County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $98k; list at $150k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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. 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?
6. 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.
7. 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.
8. 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: 0.88% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $176,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1607 E High St	0.21mi	3/1.0	1,421 (+0%)	6mo	$170,000	$120	83
1201 North Dr	0.28mi	3/1.0	1,368 (-4%)	8mo	$190,000	$139	73
1948 S Mackenzie Ln	0.61mi	3/1.5	1,406 (-1%)	1mo	$230,000	$164	70
1029 Taylor St	0.26mi	3/1.5	1,565 (+10%)	3mo	$210,000	$134	69
707 Garwood St	0.22mi	3/2.0	1,591 (+12%)	0mo	$199,000	$125	68
515 Thomas St	0.20mi	2/1.0 (-1)	1,296 (-9%)	2mo	$172,000	$133	67
1946 N Mackenzie Ln	0.63mi	3/2.0	1,416 (-0%)	2mo	$175,000	$124	66
320 E Wisconsin St	0.73mi	3/2.0	1,412 (-1%)	2mo	$151,000	$107	62
801 S Fancher Ave Lot : 1	0.57mi	4/2.0 (+1)	1,565 (+10%)	2mo	$92,500	$59	48
801 S Fancher Ave	0.57mi	4/2.0 (+1)	1,565 (+10%)	2mo	$92,500	$59	48
507 S Kinney	0.53mi	3/1.5	1,624 (+14%)	5mo	$190,000	$117	47
201 S Fancher Ave	0.72mi	4/1.0 (+1)	1,353 (-5%)	8mo	$165,000	$122	45

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -10.5%
• Equity multiple: 0.60×
• Total profit: $-16,788
• Equity at exit: $22,351

10-year hold

• IRR: 4.8%
• Equity multiple: 1.43×
• Total profit: $17,921
• Equity at exit: $12,961

Cash invested: $41,972 (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 48858

• Home prices YoY: -31.9%
• Rents YoY: 16.9%
• Active inventory: 249
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,323 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$189 /mo · $2,268/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $8

Break-even live

Break-even rent $1,313

Max offer price $149,900

Occupancy floor 94%

Sensitivity live

Price	-10% $93	-5% $50	+0% $8	+5% $-35	+10% $-77
Rent	-10% $-97	-5% $-45	+0% $8	+5% $60	+10% $112
Rate	-1.0pp $83	-0.5pp $46	base $8	+0.5pp $-31	+1.0pp $-71

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4300 Collegiate Way Mt Pleasant, MI	2.0–4.0	2.0–4.0	1341	$1,188	$0.89	45d	1	1.04mi

Listing history 20 events

1. 2026-06-21
   days on market $149,900 Active 200 DOM
2. 2026-06-19
   days on market $149,900 Active 198 DOM
3. 2026-06-18
   days on market $149,900 Active 197 DOM
4. 2026-06-17
   days on market $149,900 Active 196 DOM
5. 2026-06-16
   days on market $149,900 Active 195 DOM
6. 2026-06-15
   days on market $149,900 Active 194 DOM
7. 2026-06-14
   days on market $149,900 Active 192 DOM
8. 2026-06-12
   days on market $149,900 Active 191 DOM
9. 2026-06-09
   days on market $149,900 Active 188 DOM
10. 2026-06-08
    days on market $149,900 Active 187 DOM
11. 2026-06-07
    days on market $149,900 Active 186 DOM
12. 2026-06-05
    days on market $149,900 Active 183 DOM
13. 2026-06-03
    days on market $149,900 Active 182 DOM
14. 2026-06-02
    days on market $149,900 Active 181 DOM
15. 2026-06-01
    days on market $149,900 Active 180 DOM
16. 2026-05-31
    days on market $149,900 Active 179 DOM
17. 2026-05-30
    days on market $149,900 Active 178 DOM
18. 2026-04-26
    price $159,990
19. 2025-12-02
    listed $169,990 Active
20. 2016-05-19
    soldstatus $98,000

ⓘ 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: $2,268 · $189/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$20/yr (+$2/mo · 0.9%)

ⓘ 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 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,877
• − Mortgage interest: −$8,397
• − Property taxes: −$2,268
• − Insurance: −$750
• − Repairs & maintenance: −$1,270
• − Management: −$1,270
• − Depreciation: −$4,361
• Taxable loss: −$2,438
• Est. tax savings @ 24.0%: +$585
• After-tax cash flow: $677/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. Pleasant City School District
• NCES district ID: 2624750
• Math proficiency: 33% ▼ -5.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $32,344
• Composite: 33.16/100
• National rank: #5548
• State rank: #229 of 540 in MI

Livability — Union

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

Census & demographics

• County: Isabella County · 42,226 people
• Metro: Mount Pleasant, MI
• Population (ZIP): 42,226
• Household income: $51,267
• Rent vs Own: 50.2% rent · 49.8% own
• Severe rent burden: 2381.0

Population outlook (Isabella County) Hauer SSP2

• Today (2025): 75,111 people
• By 2030: 77,600 · +3.3%
• By 2040: 79,890 · +6.4%
• By 2050: 81,568 · +8.6%
• By 2075: 86,602 · +15.3%
• By 2100: 92,201 · +22.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 6% Hispanic / Latino 5% Native American 4% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 6% Slovak 3% Iranian 3%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 0%

Political lean MEDSL · Isabella

• 2024 margin: Lean R (+7.5) · D 45.5% · R 53.0% · Other 1.6%
• 2008→2024 swing: -26.7pp toward R · 2008: 19.2pp · 2024: -7.5pp
• All cycles: 2024: R+7.5 2020: R+2.5 2016: R+3.7 2012: D+9.3 2008: D+19.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -96.75%
• Current HPI: 206.1153
• Rent YoY: ▲ 16.89%
• Metro: Mount Pleasant, 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

+63.3% since first listed

3 events — show timeline

• 2026-04-26 Price Changed $159,990 MiRealSource-MiMLS
• 2025-12-02 Listed $169,990 MiRealSource-MiMLS
• 2016-05-19 Sold (Public Records) $98,000 Public Records

Property tax history

+5.5%/yr

Latest (2023): $2,268 · +40.9% YoY. Source: county tax records.