1229 Wells St · Burton, MI 48529

$90,000

3 bd · 2.0 ba · 1,222 sqft · SingleFamily · 26 Days on market

Built 1941 Est $110k · 18% under

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Why this score? — see what drove the C 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 +20.2/30.0
• ARV discount +15.0/15.0
• 1% rule +6.8/10.0
• DSCR +6.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

This is a 1222 square foot, 3 bedroom, 2.0 bathroom home. This home is located at 1229 Wells St, Burton, MI 48529.

Key facts

• Built 1941
• Listed 26 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.8% in Burton — 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 61/100 on livability (#555 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Carman-Ainsworth Community Schools (suburban): math 12% / reading 28% proficiency, ranked #468 of 540 in MI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Carmanainsworth Middle School (math 8% / reading 25%, grade F, #444 of 493 statewide, top 90%, 690 students, 91% FRL) — zoned schools average 91% FRL vs 64% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 54 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 29y 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 $58k; list at $90k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,650 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.18% ✓
• Cap rate: 7.81%
• Cash-on-cash: 5.43%
• DSCR: 1.24
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $109,980
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
652 Huron St	0.40mi	3/2.0	1,245 (+2%)	7mo	$116,000	$93	72
1186 E Decamp St	0.11mi	3/1.0	1,100 (-10%)	4mo	$84,000	$76	70
1465 Norton St	0.45mi	3/1.5	1,260 (+3%)	5mo	$119,999	$95	67
1374 Kenneth St	0.36mi	3/1.0	1,284 (+5%)	7mo	$115,000	$90	65
939 Ingleside Ave	0.49mi	3/1.0	1,144 (-6%)	1mo	$74,999	$66	61
4619 Brunswick Ave	0.38mi	4/2.0 (+1)	1,165 (-5%)	12mo	$125,000	$107	60
515 Leland St	0.60mi	3/1.0	1,209 (-1%)	8mo	$93,000	$77	59
4618 Brunswick Ave	0.40mi	2/1.0 (-1)	1,176 (-4%)	13mo	$73,225	$62	56
3902 Brunswick Ave	0.70mi	3/2.0	1,128 (-8%)	2mo	$123,000	$109	52
1133 E Schumacher St	0.71mi	3/1.0	1,250 (+2%)	9mo	$165,500	$132	51
612 Alvord Ave	0.50mi	3/1.0	1,082 (-12%)	4mo	$76,500	$71	50
701 Waldman Ave	0.73mi	3/1.0	1,063 (-13%)	11mo	$37,000	$35	31

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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-7,243
• Equity at exit: $13,419

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $3,371
• Equity at exit: $7,782

Cash invested: $25,200 (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 48529

• Home prices YoY: -26.5%
• Active inventory: 54
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,065 high
• Mortgage (P&I): −$472
• Tax from tax record: −$218 /mo · $2,619/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $114

Break-even live

Break-even rent $921

Max offer price $90,000

Occupancy floor 84%

Sensitivity live

Price	-10% $165	-5% $139	+0% $114	+5% $89	+10% $63
Rent	-10% $30	-5% $72	+0% $114	+5% $156	+10% $198
Rate	-1.0pp $159	-0.5pp $137	base $114	+0.5pp $91	+1.0pp $67

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4400 Kings Ln Burton, MI	1.0–2.0	1.0–2.0	666	$960	$1.44	15d	19	0.25mi
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	15d	1	0.52mi
912 Waldman Ave Flint, MI	3.0	2.0	1223	$675	$0.55	15d	1	0.82mi
4428 Pengelly Rd Flint, MI	4.0	2.0	1275	$900	$0.71	45d	1	0.85mi
4070 Greenbriar Blvd Burton, MI	3.0–4.0	2.0	1512	$1,399	$0.93	15d	1	0.97mi
4411 Red Arrow Rd Flint, MI	3.0	1.5	1200	$1,400	$1.17	15d	1	0.99mi
2266 Donovan St Burton, MI	2.0	1.0	700	$800	$1.14	15d	1	1.07mi
1426 Pettibone Ave Flint, MI	2.0	1.0	750	$900	$1.20	22d	1	1.10mi
3291 Glengary St Burton, MI	2.0	1.0	972	$1,075	$1.11	45d	1	1.14mi
805 E Hemphill Rd Flint, MI	3.0	1.5	1200	$1,000	$0.83	15d	1	1.27mi
1034 McKeighan Ave Flint, MI	3.0	1.0	1040	$1,250	$1.20	22d	1	1.44mi
4509 Cheyenne Ave Flint, MI	3.0	1.5	1200	$1,400	$1.17	15d	1	1.48mi

Listing history 50 events

1. 2026-06-21
   days on market $90,000 Active 26 DOM
2. 2026-06-18
   days on market $90,000 Active 23 DOM
3. 2026-06-17
   days on market $90,000 Active 22 DOM
4. 2026-06-16
   days on market $90,000 Active 21 DOM
5. 2026-06-15
   days on market $90,000 Active 20 DOM
6. 2026-06-14
   days on market $90,000 Active 18 DOM
7. 2026-06-13
   days on market $90,000 Active 17 DOM
8. 2026-06-10
   days on market $90,000 Active 15 DOM
9. 2026-06-09
   days on market $90,000 Active 14 DOM
10. 2026-06-08
    days on market $90,000 Active 13 DOM
11. 2026-06-07
    days on market $90,000 Active 12 DOM
12. 2026-06-05
    days on market $90,000 Active 9 DOM
13. 2026-06-02
    days on market $90,000 Active 7 DOM
14. 2026-06-01
    days on market $90,000 Active 6 DOM
15. 2026-05-31
    days on market $90,000 Active 5 DOM
16. 2026-05-30
    days on market $90,000 Active 4 DOM
17. 2026-05-26
    listed $90,000 Active
18. 2025-03-31
    historical
19. 2025-03-30
    historical
20. 2025-03-09
    price $69,900
21. 2025-03-09
    price $69,900
22. 2025-03-09
    price $69,900
23. 2025-02-20
    price $84,000
24. 2025-02-19
    price $84,000
25. 2025-02-19
    price $84,000
26. 2025-01-27
    status Active
27. 2025-01-27
    status Active
28. 2025-01-19
    status Pending
29. 2025-01-19
    status Pending
30. 2025-01-13
    price $89,000
31. 2025-01-13
    price $89,000
32. 2025-01-12
    price $89,000
33. 2024-10-17
    listed $99,000 Active
34. 2024-10-17
    listed $99,000 Active
35. 2010-12-06
    historical
36. 2010-12-06
    historical
37. 2010-12-06
    historical
38. 2006-12-15
    historical
39. 2006-04-29
    listed $79,000
40. 2006-04-29
    listed $79,000
41. 1999-08-27
    soldstatus $57,750
42. 1999-08-27
    soldstatus $57,750
43. 1999-08-03
    historical
44. 1999-06-16
    listed $57,000
45. 1999-06-16
    listed $57,000
46. 1998-07-15
    historical
47. 1998-07-15
    historical
48. 1998-04-16
    listed $57,000
49. 1998-04-16
    listed $57,000
50. 1998-04-15
    historical

ⓘ 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: $2,619 · $218/mo
• Projected year-2 tax: $2,619 · $218/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,786
• − Mortgage interest: −$5,041
• − Property taxes: −$2,619
• − Insurance: −$450
• − Repairs & maintenance: −$1,023
• − Management: −$1,023
• − Depreciation: −$2,618
• Taxable income: $11
• Est. tax owed @ 24.0%: −$3
• After-tax cash flow: $1,365/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: Carman-Ainsworth Community Schools
• NCES district ID: 2607890
• Math proficiency: 12% ▼ -14.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $39,394
• Composite: 16.84/100
• National rank: #9149
• State rank: #468 of 540 in MI

Livability — Burton

• Score: 61/100
• State rank: #555
• US rank: #17380

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burton, MI
• City population: 26,014
• Population (ZIP): 8,959

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 White (82%)
• Race & ethnicity: White 82% Black 9% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 4%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -82.30%
• Current HPI: 228.5338
• 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

+45.2% since first listed

43 events — show timeline

• 2026-05-26 Listed $90,000 FSBO.com
• 2025-03-31 Listing Removed — MiRealSource-MiMLS
• 2025-03-30 Listing Removed — REALCOMP
• 2025-03-09 Price Changed $69,900 MiRealSource-MiMLS
• 2025-03-09 Price Changed $69,900 REALCOMP
• 2025-03-09 Price Changed $69,900 SW Michigan MLS
• 2025-02-20 Price Changed $84,000 MiRealSource-MiMLS
• 2025-02-19 Price Changed $84,000 REALCOMP
• 2025-02-19 Price Changed $84,000 SW Michigan MLS
• 2025-01-27 Relisted — REALCOMP
• 2025-01-27 Relisted — MiRealSource-MiMLS
• 2025-01-19 Pending — REALCOMP
• 2025-01-19 Pending — MiRealSource-MiMLS
• 2025-01-13 Price Changed $89,000 REALCOMP
• 2025-01-13 Price Changed $89,000 MiRealSource-MiMLS
• 2025-01-12 Price Changed $89,000 SW Michigan MLS
• 2024-10-17 Listed $99,000 REALCOMP
• 2024-10-17 Listed $99,000 MiRealSource-MiMLS
• 2010-12-06 Listing Removed — REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2006-12-15 Listing Removed — MiRealSource-MiMLS
• 2006-04-29 Listed $79,000 MiRealSource-MiMLS
• 2006-04-29 Listed $79,000 REALCOMP
• 1999-08-27 Sold (MLS) $57,750 REALCOMP
• 1999-08-27 Sold (MLS) $57,750 MiRealSource-MiMLS
• 1999-08-03 Listing Removed — MiRealSource-MiMLS
• 1999-06-16 Listed $57,000 REALCOMP
• 1999-06-16 Listed $57,000 MiRealSource-MiMLS
• 1998-07-15 Listing Removed — MiRealSource-MiMLS
• 1998-07-15 Listing Removed — REALCOMP
• 1998-04-16 Listed $57,000 MiRealSource-MiMLS
• 1998-04-16 Listed $57,000 REALCOMP
• 1998-04-15 Listing Removed — REALCOMP
• 1998-04-15 Listing Removed — MiRealSource-MiMLS
• 1998-01-31 Listing Removed — MiRealSource-MiMLS
• 1997-10-16 Listed $59,700 REALCOMP
• 1997-10-16 Listed $59,700 MiRealSource-MiMLS
• 1997-07-15 Listed $58,900 MiRealSource-MiMLS
• 1997-07-15 Listed $58,900 REALCOMP
• 1997-07-02 Listing Removed — MiRealSource-MiMLS
• 1997-04-03 Listed $62,000 MiRealSource-MiMLS
• 1997-04-03 Listed $62,000 REALCOMP

Property tax history

+7.9%/yr

Latest (2025): $2,619 · +2.7% YoY. Source: county tax records.