124 E High St · Metamora, MI 48455

$124,900

3 bd · 1.0 ba · 2,251 sqft · SingleFamily public records · 12 Days on market

Built 1844 0.45 ac lot $55/sqft · 65% below 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
• Schools +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity in the heart of historic Metamora! 124 E. High St. offers a unique chance to restore and reimagine a true piece of history in one of the area's most sought-after locations. Step back in time and unlock the potential of this charming 1844 farmhouse, ideally located within walking distance to the iconic White Horse Inn, local parks, and Village amenities. Perched on a scenic . 45-acre hilltop setting, this 2,251 sq. ft. home offers a rare blend of character, space, and opportunity. The expansive layout features 4 bedrooms and 2 full baths, including a highly desirable main-floor primary suite with an oversized walk-in closet. Original farmhouse charm and architectural details can be found throughout, offering the perfect canvas for restoration, renovation, or investment. Additional highlights include a detached 20x20 two car garage, covered front porch and deck and a prime location with easy access to M-24 and I-69, which is ideal for commuters seeking small town charm with everyday convenience. Cash only sale based on the unique renovation needs this home requires, but perfect for someone seeking a true historical renovation project. This home offers a rare opportunity for investors or buyers looking to restore a piece of history in a fantastic location. Seller is unable to remove any personal property from home and everything seen at the time of showing is included in the sale.

Key facts

• Covered front porch
• Prime location
• Historic metamora

Tags

• HISTORIC METAMORA
• SCENIC HILLTOP SETTING
• ORIGINAL FARMHOUSE CHARM
• ARCHITECTURAL DETAILS
• COVERED FRONT PORCH
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 16.5% vs local median 2.4% in Metamora — 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 65/100 on livability (#447 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lapeer Community Schools (town): math 31% / reading 49% proficiency, ranked #202 of 540 in MI (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 75 active listings in the ZIP; 152 units permitted in Lapeer County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lapeer County population projected at -10% 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 $35k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts 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 1844 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1844 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 1.84% ✓
• Cap rate: 16.54%
• Cash-on-cash: 36.58%
• DSCR: 2.63
• GRM: 4.5

CMA / ARV

• ARV (median comp): $354,506
• List price: $124,900
• Delta: -64.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4030 Metamora Rdg	0.38mi	3/2.5	2,200 (-2%)	9mo	$679,900	$309	65
4116 East St	0.30mi	3/2.0	2,392 (+6%)	8mo	$295,000	$123	64
216 2nd St	0.13mi	4/2.0 (+1)	2,050 (-9%)	12mo	$340,000	$166	60
3926 N Oak St	0.21mi	4/3.0 (+1)	2,378 (+6%)	9mo	$370,000	$156	60
4043 Pleasant St	0.03mi	4/2.0 (+1)	1,975 (-12%)	17mo	$320,000	$162	55
4080 Metamora Rdg Rdg	0.48mi	3/2.5	2,000 (-11%)	0mo	$635,000	$318	53
118 Jamestown Dr	0.56mi	4/2.5 (+1)	2,232 (-1%)	19mo	$409,900	$184	45
4111 Blood Rd	0.25mi	3/2.5	1,950 (-13%)	22mo	$302,500	$155	42
4075 Metamora Rdg	0.72mi	3/2.5	2,480 (+10%)	5mo	$780,000	$315	40
4050 Metamora Rdg	0.72mi	3/2.5	2,000 (-11%)	4mo	$580,000	$290	38

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: 32.4%
• Equity multiple: 2.36×
• Total profit: $47,625
• Equity at exit: $18,623

10-year hold

• IRR: 39.4%
• Equity multiple: 4.68×
• Total profit: $128,759
• Equity at exit: $10,799

Cash invested: $34,972 (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 48455

• Active inventory: 75
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,298 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$42 /mo · $507/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $1,066

Break-even live

Break-even rent $948

Max offer price $124,900

Occupancy floor 49%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-05-05
   status Pending 1421-char remark

   Show marketing remark (1427 chars)

   Investor opportunity in the heart of historic Metamora! 124 E. High St. offers a unique chance to restore and reimagine a true piece of history in one of the area’s most sought-after locations. Step back in time and unlock the potential of this charming 1844 farmhouse, ideally located within walking distance to the iconic White Horse Inn, local parks, and Village amenities. Perched on a scenic . 45-acre hilltop setting, this 2,251 sq. ft. home offers a rare blend of character, space, and opportunity. The expansive layout features 4 bedrooms and 2 full baths, including a highly desirable main-floor primary suite with an oversized walk-in closet. Original farmhouse charm and architectural details can be found throughout, offering the perfect canvas for restoration, renovation, or investment. Additional highlights include a detached 20x20 two car garage, covered front porch and deck and a prime location with easy access to M-24 and I-69, which is ideal for commuters seeking small town charm with everyday convenience. Cash only sale based on the unique renovation needs this home requires, but perfect for someone seeking a true historical renovation project. This home offers a rare opportunity for investors or buyers looking to restore a piece of history in a fantastic location. Seller is unable to remove any personal property from home and everything seen at the time of showing is included in the sale.

2. 2026-05-05
   status Pending 1427-char remark

   Show marketing remark (1427 chars)

   Investor opportunity in the heart of historic Metamora! 124 E. High St. offers a unique chance to restore and reimagine a true piece of history in one of the area’s most sought-after locations. Step back in time and unlock the potential of this charming 1844 farmhouse, ideally located within walking distance to the iconic White Horse Inn, local parks, and Village amenities. Perched on a scenic . 45-acre hilltop setting, this 2,251 sq. ft. home offers a rare blend of character, space, and opportunity. The expansive layout features 4 bedrooms and 2 full baths, including a highly desirable main-floor primary suite with an oversized walk-in closet. Original farmhouse charm and architectural details can be found throughout, offering the perfect canvas for restoration, renovation, or investment. Additional highlights include a detached 20x20 two car garage, covered front porch and deck and a prime location with easy access to M-24 and I-69, which is ideal for commuters seeking small town charm with everyday convenience. Cash only sale based on the unique renovation needs this home requires, but perfect for someone seeking a true historical renovation project. This home offers a rare opportunity for investors or buyers looking to restore a piece of history in a fantastic location. Seller is unable to remove any personal property from home and everything seen at the time of showing is included in the sale.

3. 2026-04-29
   status Active 1421-char remark

   Show marketing remark (1427 chars)

   Investor opportunity in the heart of historic Metamora! 124 E. High St. offers a unique chance to restore and reimagine a true piece of history in one of the area’s most sought-after locations. Step back in time and unlock the potential of this charming 1844 farmhouse, ideally located within walking distance to the iconic White Horse Inn, local parks, and Village amenities. Perched on a scenic . 45-acre hilltop setting, this 2,251 sq. ft. home offers a rare blend of character, space, and opportunity. The expansive layout features 4 bedrooms and 2 full baths, including a highly desirable main-floor primary suite with an oversized walk-in closet. Original farmhouse charm and architectural details can be found throughout, offering the perfect canvas for restoration, renovation, or investment. Additional highlights include a detached 20x20 two car garage, covered front porch and deck and a prime location with easy access to M-24 and I-69, which is ideal for commuters seeking small town charm with everyday convenience. Cash only sale based on the unique renovation needs this home requires, but perfect for someone seeking a true historical renovation project. This home offers a rare opportunity for investors or buyers looking to restore a piece of history in a fantastic location. Seller is unable to remove any personal property from home and everything seen at the time of showing is included in the sale.

4. 2026-04-29
   status Active 1427-char remark

   Show marketing remark (1427 chars)

   Investor opportunity in the heart of historic Metamora! 124 E. High St. offers a unique chance to restore and reimagine a true piece of history in one of the area’s most sought-after locations. Step back in time and unlock the potential of this charming 1844 farmhouse, ideally located within walking distance to the iconic White Horse Inn, local parks, and Village amenities. Perched on a scenic . 45-acre hilltop setting, this 2,251 sq. ft. home offers a rare blend of character, space, and opportunity. The expansive layout features 4 bedrooms and 2 full baths, including a highly desirable main-floor primary suite with an oversized walk-in closet. Original farmhouse charm and architectural details can be found throughout, offering the perfect canvas for restoration, renovation, or investment. Additional highlights include a detached 20x20 two car garage, covered front porch and deck and a prime location with easy access to M-24 and I-69, which is ideal for commuters seeking small town charm with everyday convenience. Cash only sale based on the unique renovation needs this home requires, but perfect for someone seeking a true historical renovation project. This home offers a rare opportunity for investors or buyers looking to restore a piece of history in a fantastic location. Seller is unable to remove any personal property from home and everything seen at the time of showing is included in the sale.

5. 2026-03-31
   status Pending 1421-char remark

   Show marketing remark (1427 chars)

   Investor opportunity in the heart of historic Metamora! 124 E. High St. offers a unique chance to restore and reimagine a true piece of history in one of the area’s most sought-after locations. Step back in time and unlock the potential of this charming 1844 farmhouse, ideally located within walking distance to the iconic White Horse Inn, local parks, and Village amenities. Perched on a scenic . 45-acre hilltop setting, this 2,251 sq. ft. home offers a rare blend of character, space, and opportunity. The expansive layout features 4 bedrooms and 2 full baths, including a highly desirable main-floor primary suite with an oversized walk-in closet. Original farmhouse charm and architectural details can be found throughout, offering the perfect canvas for restoration, renovation, or investment. Additional highlights include a detached 20x20 two car garage, covered front porch and deck and a prime location with easy access to M-24 and I-69, which is ideal for commuters seeking small town charm with everyday convenience. Cash only sale based on the unique renovation needs this home requires, but perfect for someone seeking a true historical renovation project. This home offers a rare opportunity for investors or buyers looking to restore a piece of history in a fantastic location. Seller is unable to remove any personal property from home and everything seen at the time of showing is included in the sale.

6. 2026-03-31
   status Pending 1427-char remark

   Show marketing remark (1427 chars)

   Investor opportunity in the heart of historic Metamora! 124 E. High St. offers a unique chance to restore and reimagine a true piece of history in one of the area’s most sought-after locations. Step back in time and unlock the potential of this charming 1844 farmhouse, ideally located within walking distance to the iconic White Horse Inn, local parks, and Village amenities. Perched on a scenic . 45-acre hilltop setting, this 2,251 sq. ft. home offers a rare blend of character, space, and opportunity. The expansive layout features 4 bedrooms and 2 full baths, including a highly desirable main-floor primary suite with an oversized walk-in closet. Original farmhouse charm and architectural details can be found throughout, offering the perfect canvas for restoration, renovation, or investment. Additional highlights include a detached 20x20 two car garage, covered front porch and deck and a prime location with easy access to M-24 and I-69, which is ideal for commuters seeking small town charm with everyday convenience. Cash only sale based on the unique renovation needs this home requires, but perfect for someone seeking a true historical renovation project. This home offers a rare opportunity for investors or buyers looking to restore a piece of history in a fantastic location. Seller is unable to remove any personal property from home and everything seen at the time of showing is included in the sale.

7. 2026-03-25
   listed $124,900 Active 1421-char remark

   Show marketing remark (1427 chars)

   Investor opportunity in the heart of historic Metamora! 124 E. High St. offers a unique chance to restore and reimagine a true piece of history in one of the area’s most sought-after locations. Step back in time and unlock the potential of this charming 1844 farmhouse, ideally located within walking distance to the iconic White Horse Inn, local parks, and Village amenities. Perched on a scenic . 45-acre hilltop setting, this 2,251 sq. ft. home offers a rare blend of character, space, and opportunity. The expansive layout features 4 bedrooms and 2 full baths, including a highly desirable main-floor primary suite with an oversized walk-in closet. Original farmhouse charm and architectural details can be found throughout, offering the perfect canvas for restoration, renovation, or investment. Additional highlights include a detached 20x20 two car garage, covered front porch and deck and a prime location with easy access to M-24 and I-69, which is ideal for commuters seeking small town charm with everyday convenience. Cash only sale based on the unique renovation needs this home requires, but perfect for someone seeking a true historical renovation project. This home offers a rare opportunity for investors or buyers looking to restore a piece of history in a fantastic location. Seller is unable to remove any personal property from home and everything seen at the time of showing is included in the sale.

8. 2026-03-25
   listed $124,900 Active 1427-char remark

   Show marketing remark (1427 chars)

   Investor opportunity in the heart of historic Metamora! 124 E. High St. offers a unique chance to restore and reimagine a true piece of history in one of the area’s most sought-after locations. Step back in time and unlock the potential of this charming 1844 farmhouse, ideally located within walking distance to the iconic White Horse Inn, local parks, and Village amenities. Perched on a scenic . 45-acre hilltop setting, this 2,251 sq. ft. home offers a rare blend of character, space, and opportunity. The expansive layout features 4 bedrooms and 2 full baths, including a highly desirable main-floor primary suite with an oversized walk-in closet. Original farmhouse charm and architectural details can be found throughout, offering the perfect canvas for restoration, renovation, or investment. Additional highlights include a detached 20x20 two car garage, covered front porch and deck and a prime location with easy access to M-24 and I-69, which is ideal for commuters seeking small town charm with everyday convenience. Cash only sale based on the unique renovation needs this home requires, but perfect for someone seeking a true historical renovation project. This home offers a rare opportunity for investors or buyers looking to restore a piece of history in a fantastic location. Seller is unable to remove any personal property from home and everything seen at the time of showing is included in the sale.

ⓘ 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: $507 · $42/mo
• Projected year-2 tax: $1,215 · $101/mo
• Expected delta: +$708/yr (+$59/mo · 139.7%)

ⓘ 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: $27,575
• − Mortgage interest: −$6,996
• − Property taxes: −$507
• − Insurance: −$624
• − Repairs & maintenance: −$2,206
• − Management: −$2,206
• − Depreciation: −$3,633
• Taxable income: $11,402
• Est. tax owed @ 24.0%: −$2,736
• After-tax cash flow: $10,057/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: Lapeer Community Schools
• NCES district ID: 2621180
• Math proficiency: 31% ▼ -9.00%
• Reading proficiency: 49% ▼ -4.00%
• Median HH income: $53,749
• Composite: 34.79/100
• National rank: #5113
• State rank: #202 of 540 in MI

Livability — Metamora

• Score: 65/100
• State rank: #447
• US rank: #12557

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment C Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Metamora, MI
• City population: 7,849
• Population (ZIP): 7,849

Population outlook (Lapeer County) Hauer SSP2

• Today (2025): 89,826 people
• By 2030: 89,535 · -0.3%
• By 2040: 86,695 · -3.5%
• By 2050: 80,566 · -10.3%
• By 2075: 65,783 · -26.8%
• By 2100: 46,584 · -48.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 13% Iranian 5% Lithuanian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Russian/Polish/Slavic 2%

Political lean MEDSL · Lapeer

• 2024 margin: Solid R (+39.8) · D 29.5% · R 69.3% · Other 1.3%
• 2008→2024 swing: -36.8pp toward R · 2008: -3.0pp · 2024: -39.8pp
• All cycles: 2024: R+39.8 2020: R+36.3 2016: R+38.3 2012: R+11.5 2008: R+3.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.50%
• Current HPI: 191.9058
• 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

+0.0% since first listed

8 events — show timeline

• 2026-05-05 Pending — MiRealSource-MiMLS
• 2026-05-05 Pending — REALCOMP
• 2026-04-29 Relisted — MiRealSource-MiMLS
• 2026-04-29 Relisted — REALCOMP
• 2026-03-31 Pending — MiRealSource-MiMLS
• 2026-03-31 Pending — REALCOMP
• 2026-03-25 Listed $124,900 REALCOMP
• 2026-03-25 Listed $124,900 MiRealSource-MiMLS

Property tax history

-8.4%/yr

Latest (2025): $507 · -70.2% YoY. Source: county tax records.