413 E Hemphill Rd · Flint, MI 48507

$65,000

3 bd · 1.0 ba · 743 sqft · SingleFamily public records · 79 Days on market

Built 1948 6,534 sqft lot Est $87k · 25% under

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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 +28.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom home with Basement and oversized 2 car garage on paved road. Fenced back yard and close to expressway and shopping.

Key facts

• Paved road
• Fenced back yard
• Close to shopping

Tags

• FENCED BACK YARD
• PAVED ROAD
• CLOSE TO EXPRESSWAY
• CLOSE TO SHOPPING

Property features AI

Finance

• Other: Paved road access; Lot dimensions approximately 67.5 x 95 feet (about 0.15 acres); Subdivision: DIXIELAND

Exterior

• Parking: Attached garage with approximately 2.5 spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one-half stories; Ground-level entry with steps
• Construction: Aluminum siding; Block foundation; Asphalt roof; Built as a residential single-family home
• Exterior features: Covered porch, deck, and other porch areas; Outdoor lighting; Back yard fencing

Interior

• Bedrooms: One and one-half level home (bedroom locations by level not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Full unfinished basement; 6 total rooms
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($963 rent vs $65k).
• Recommended offer: $61k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 74/100 on livability (#196 in MI, #4,946 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment F.
• Flint School District (urban): math 7% / reading 13% proficiency, ranked #714 of 760 in MI (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.0%/yr); 207 active listings in the ZIP; 3 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 $449 of loan paydown is wiped out by about $2k 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 79 days — a 6% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 29y ago; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; list at $65k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 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 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.48% ✓
• Cap rate: 10.23%
• Cash-on-cash: 14.08%
• DSCR: 1.63
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $86,931
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
530 Mckeighan Ave	0.21mi	2/1.0 (-1)	718 (-3%)	1mo	$90,000	$125	78
1475 Wells St	0.44mi	2/1.0 (-1)	723 (-3%)	2mo	$89,900	$124	68
621 Lochhead Ave	0.36mi	2/1.0 (-1)	680 (-8%)	4mo	$72,000	$106	61
1388 Carman St	0.62mi	2/1.0 (-1)	723 (-3%)	3mo	$84,650	$117	59
2220 E Bergin Ave	0.70mi	2/1.0 (-1)	744 (+0%)	6mo	$80,000	$108	57
2053 E Whittemore Ave	0.58mi	2/1.0 (-1)	756 (+2%)	10mo	$80,000	$106	57
3517 Fern Ave	0.53mi	2/1.0 (-1)	680 (-8%)	0mo	$98,000	$144	56
602 Buckingham Ave	0.47mi	2/1.0 (-1)	798 (+7%)	9mo	$39,000	$49	53
1325 Norton St	0.69mi	2/1.0 (-1)	792 (+7%)	6mo	$64,900	$82	47
1409 James St	0.62mi	2/1.0 (-1)	818 (+10%)	3mo	$76,000	$93	46
2130 E Whittemore Ave	0.58mi	2/1.0 (-1)	636 (-14%)	7mo	$87,000	$137	38
2120 Parkwood Ave	0.73mi	2/1.0 (-1)	634 (-15%)	7mo	$104,900	$165	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.5%
• Equity multiple: 1.02×
• Total profit: $319
• Equity at exit: $9,692

10-year hold

• IRR: 6.3%
• Equity multiple: 1.39×
• Total profit: $7,187
• Equity at exit: $5,620

Cash invested: $18,200 (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 48507

• Rents YoY: -1.0%
• Active inventory: 207
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $963 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$179 /mo · $2,150/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $214

Break-even live

Break-even rent $693

Max offer price $65,000

Occupancy floor 73%

Sensitivity live

Price	-10% $250	-5% $232	+0% $214	+5% $195	+10% $177
Rent	-10% $137	-5% $175	+0% $214	+5% $252	+10% $290
Rate	-1.0pp $246	-0.5pp $230	base $214	+0.5pp $197	+1.0pp $180

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2266 Donovan St Burton, MI	2.0	1.0	700	$800	$1.14	14d	1	0.44mi
4400 Kings Ln Burton, MI	1.0–2.0	1.0–2.0	666	$960	$1.44	14d	19	1.07mi
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	14d	1	1.08mi

Listing history 50 events

1. 2026-06-21
   days on market $65,000 Active 79 DOM
2. 2026-06-18
   days on market $65,000 Active 76 DOM
3. 2026-06-17
   days on market $65,000 Active 75 DOM
4. 2026-06-16
   days on market $65,000 Active 74 DOM
5. 2026-06-15
   days on market $65,000 Active 73 DOM
6. 2026-06-14
   days on market $65,000 Active 71 DOM
7. 2026-06-13
   days on market $65,000 Active 70 DOM
8. 2026-06-10
   days on market $65,000 Active 68 DOM
9. 2026-06-09
   days on market $65,000 Active 67 DOM
10. 2026-06-08
    days on market $65,000 Active 66 DOM
11. 2026-06-07
    days on market $65,000 Active 65 DOM
12. 2026-06-05
    days on market $65,000 Active 62 DOM
13. 2026-06-03
    days on market $65,000 Active 61 DOM
14. 2026-06-02
    days on market $65,000 Active 60 DOM
15. 2026-06-01
    days on market $65,000 Active 59 DOM
16. 2026-05-31
    days on market $65,000 Active 58 DOM
17. 2026-05-30
    days on market $65,000 Active 57 DOM
18. 2026-04-30
    price $65,000 125-char remark

    Show marketing remark (125 chars)

    3 Bedroom home with Basement and oversized 2 car garage on paved road. Fenced back yard and close to expressway and shopping.

19. 2026-04-30
    price $65,000

    Show marketing remark (125 chars)

    3 Bedroom home with Basement and oversized 2 car garage on paved road. Fenced back yard and close to expressway and shopping.

20. 2026-04-03
    listed $80,000 Active 125-char remark

    Show marketing remark (125 chars)

    3 Bedroom home with Basement and oversized 2 car garage on paved road. Fenced back yard and close to expressway and shopping.

21. 2026-04-03
    listed $80,000 Active

    Show marketing remark (125 chars)

    3 Bedroom home with Basement and oversized 2 car garage on paved road. Fenced back yard and close to expressway and shopping.

22. 2023-06-05
    soldstatus $42,900 308-char remark

    Show marketing remark (308 chars)

    PRICED TO SELL! Don't pass up this 3 bedroom, one bathroom home. Perfect starter home, or small family home. Furnace replaced within the last 3 years. New electrical. Over-sized two car garage. Home is being painted throughout, with other updates to follow. Big fenced in back yard. Schedule a showing today!

23. 2023-06-05
    soldstatus $42,900 Closed

    Show marketing remark (308 chars)

    PRICED TO SELL! Don't pass up this 3 bedroom, one bathroom home. Perfect starter home, or small family home. Furnace replaced within the last 3 years. New electrical. Over-sized two car garage. Home is being painted throughout, with other updates to follow. Big fenced in back yard. Schedule a showing today!

24. 2023-04-08
    status Pending
25. 2023-03-28
    price $50,900
26. 2023-03-08
    price $59,900
27. 2023-02-27
    status Active
28. 2023-02-19
    status Pending
29. 2023-01-22
    price $64,900
30. 2023-01-11
    listed $50,900 308-char remark

    Show marketing remark (308 chars)

    PRICED TO SELL! Don't pass up this 3 bedroom, one bathroom home. Perfect starter home, or small family home. Furnace replaced within the last 3 years. New electrical. Over-sized two car garage. Home is being painted throughout, with other updates to follow. Big fenced in back yard. Schedule a showing today!

31. 2023-01-11
    listed $69,900 Active

    Show marketing remark (308 chars)

    PRICED TO SELL! Don't pass up this 3 bedroom, one bathroom home. Perfect starter home, or small family home. Furnace replaced within the last 3 years. New electrical. Over-sized two car garage. Home is being painted throughout, with other updates to follow. Big fenced in back yard. Schedule a showing today!

32. 2018-06-07
    historical
33. 2018-06-07
    historical
34. 2018-05-25
    status Active
35. 2018-05-25
    status Active
36. 2018-05-18
    historical
37. 2018-05-18
    historical
38. 2018-05-17
    listed $39,900 Active
39. 2018-05-17
    listed $39,900 Active
40. 2015-08-28
    historical
41. 2015-08-18
    listed $7,900
42. 2015-08-18
    listed $7,900
43. 2010-12-03
    historical
44. 2006-08-24
    soldstatus $30,000
45. 2006-08-24
    soldstatus $30,000
46. 2006-08-06
    historical
47. 2006-05-05
    listed $34,900
48. 2006-05-05
    listed $34,900
49. 2006-03-28
    historical
50. 2005-11-30
    listed $69,900

ⓘ 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: $2,150 · $179/mo
• Projected year-2 tax: $2,150 · $179/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: $11,554
• − Mortgage interest: −$3,641
• − Property taxes: −$2,150
• − Insurance: −$325
• − Repairs & maintenance: −$924
• − Management: −$924
• − Depreciation: −$1,891
• Taxable income: $1,698
• Est. tax owed @ 24.0%: −$408
• After-tax cash flow: $2,155/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: Flint School District
• NCES district ID: 2614520
• Math proficiency: 7% ▬ 0.00%
• Reading proficiency: 13% ▲ 3.00%
• Median HH income: $25,954
• Composite: 10.97/100
• National rank: #14642
• State rank: #714 of 760 in MI

Livability — Flint

• Score: 74/100
• State rank: #196
• US rank: #4946

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Flint, MI
• County: Genesee County · 221,329 people
• City population: 93,814
• Metro: Flint, MI
• Population (ZIP): 28,723
• Household income: $46,554
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1534.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 59% Black 28% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -154.90%
• Current HPI: 132.3632
• Rent YoY: ▼ -1.04%
• 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

+44.8% since first listed

44 events — show timeline

• 2026-04-30 Price Changed $65,000 MiRealSource-MiMLS
• 2026-04-30 Price Changed $65,000 REALCOMP
• 2026-04-03 Listed $80,000 REALCOMP
• 2026-04-03 Listed $80,000 MiRealSource-MiMLS
• 2023-06-05 Sold (MLS) $42,900 MiRealSource-MiMLS
• 2023-06-05 Sold (MLS) $42,900 REALCOMP
• 2023-04-08 Pending — MiRealSource-MiMLS
• 2023-03-28 Price Changed $50,900 MiRealSource-MiMLS
• 2023-03-08 Price Changed $59,900 MiRealSource-MiMLS
• 2023-02-27 Relisted — MiRealSource-MiMLS
• 2023-02-19 Pending — MiRealSource-MiMLS
• 2023-01-22 Price Changed $64,900 MiRealSource-MiMLS
• 2023-01-11 Listed $69,900 MiRealSource-MiMLS
• 2023-01-11 Listed $50,900 REALCOMP
• 2018-06-07 Listing Removed — REALCOMP
• 2018-06-07 Listing Removed — MiRealSource-MiMLS
• 2018-05-25 Relisted — MiRealSource-MiMLS
• 2018-05-25 Relisted — REALCOMP
• 2018-05-18 Listing Removed — REALCOMP
• 2018-05-18 Listing Removed — MiRealSource-MiMLS
• 2018-05-17 Listed $39,900 MiRealSource-MiMLS
• 2018-05-17 Listed $39,900 REALCOMP
• 2015-08-28 Listing Removed — MiRealSource-MiMLS
• 2015-08-18 Listed $7,900 MiRealSource-MiMLS
• 2015-08-18 Listed $7,900 REALCOMP
• 2010-12-03 Listing Removed — REALCOMP
• 2006-08-24 Sold (MLS) $30,000 MiRealSource-MiMLS
• 2006-08-24 Sold (MLS) $30,000 REALCOMP
• 2006-08-06 Listing Removed — MiRealSource-MiMLS
• 2006-05-05 Listed $34,900 MiRealSource-MiMLS
• 2006-05-05 Listed $34,900 REALCOMP
• 2006-03-28 Listing Removed — MiRealSource-MiMLS
• 2005-11-30 Listed $69,900 MiRealSource-MiMLS
• 2005-11-30 Listed $69,900 REALCOMP
• 2000-06-02 Sold (MLS) $56,900 REALCOMP
• 2000-06-02 Sold (MLS) $56,900 MiRealSource-MiMLS
• 2000-04-26 Listing Removed — MiRealSource-MiMLS
• 2000-04-12 Listed $56,900 REALCOMP
• 2000-04-12 Listed $56,900 MiRealSource-MiMLS
• 1997-06-18 Listing Removed — MiRealSource-MiMLS
• 1997-06-13 Sold (MLS) $42,900 REALCOMP
• 1997-06-13 Sold (MLS) $42,900 MiRealSource-MiMLS
• 1997-04-15 Listed $44,900 MiRealSource-MiMLS
• 1997-04-13 Listed $44,900 REALCOMP

Property tax history

+8.8%/yr

Latest (2025): $2,150 · -6.6% YoY. Source: county tax records.