1054 Normandy Terrace Dr · Flint, MI 48532

$50,000

2 bd · 2.0 ba · 1,260 sqft · Condo · 16 Days on market

Built 1971 $355/mo HOA · 31% of rent ↓ 33% since listing

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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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Normandy Terrace! This end unit ranch style condo offers two full bedrooms and two full bathrooms a very spacious kitchen, living room and dining space. This condo is being sold as is. TLC needed. Community offers a swimming pool!

Key facts

• $355 HOA
• 2 garage spots
• Built 1971

Property features AI

Finance

• Other: Annual property tax listed (verify current amount with listing agent)
• HOA & community: Homeowners association with monthly fee of $355; HOA covers grounds maintenance, trash, and water

Exterior

• Parking: Detached garage with approximately 2.5 car capacity
• Utilities: Public water; Public sewer
• Home design: One-story condominium
• Construction: Aluminum siding and brick exterior; Slab foundation
• Exterior features: Paved road access; Pets allowed (contact for details)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced-air heating (natural gas); No cooling
• Interior features: Ground-level entry; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $50k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $49k (1.5% 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.
• 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.
• Market conditions: 123 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $346 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($49k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 30y 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 $25k; list at $50k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $49,250 (1.5% below list)

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.31% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.33%
• DSCR: 1.73
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.31×
• Total profit: $4,277
• Equity at exit: $7,455

10-year hold

• IRR: 17.3%
• Equity multiple: 2.45×
• Total profit: $20,353
• Equity at exit: $4,323

Cash invested: $14,000 (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 48532

• Home prices YoY: -28.9%
• Active inventory: 123
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,153 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$83 /mo · $992/yr
• Insurance: −$21
• HOA: −$355
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $190

Break-even live

Break-even rent $912

Max offer price $50,000

Occupancy floor 78%

Sensitivity live

Price	-10% $219	-5% $205	+0% $190	+5% $176	+10% $162
Rent	-10% $99	-5% $145	+0% $190	+5% $236	+10% $282
Rate	-1.0pp $216	-0.5pp $203	base $190	+0.5pp $178	+1.0pp $164

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1415 S Linden Rd Flint, MI	2.0	1.0	1000	$1,000	$1.00	14d	1	0.68mi
1440 N Linden Rd Flint, MI	1.0–2.0	1.0–2.0	950	$1,425	$1.50	14d	6	1.14mi

HOA detail condo

• Monthly dues: $355 · $4,260/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-05-21
   status Pending 241-char remark

   Show marketing remark (241 chars)

   Welcome to Normandy Terrace! This end unit ranch style condo offers two full bedrooms and two full bathrooms a very spacious kitchen, living room and dining space. This condo is being sold as is. TLC needed. Community offers a swimming pool!

2. 2026-05-21
   status Pending

   Show marketing remark (241 chars)

   Welcome to Normandy Terrace! This end unit ranch style condo offers two full bedrooms and two full bathrooms a very spacious kitchen, living room and dining space. This condo is being sold as is. TLC needed. Community offers a swimming pool!

3. 2026-05-11
   historical Accepting Backup Offers 241-char remark

   Show marketing remark (241 chars)

   Welcome to Normandy Terrace! This end unit ranch style condo offers two full bedrooms and two full bathrooms a very spacious kitchen, living room and dining space. This condo is being sold as is. TLC needed. Community offers a swimming pool!

4. 2026-05-11
   historical Active Under Contract

   Show marketing remark (241 chars)

   Welcome to Normandy Terrace! This end unit ranch style condo offers two full bedrooms and two full bathrooms a very spacious kitchen, living room and dining space. This condo is being sold as is. TLC needed. Community offers a swimming pool!

5. 2026-05-06
   listed $50,000 Active 241-char remark

   Show marketing remark (241 chars)

   Welcome to Normandy Terrace! This end unit ranch style condo offers two full bedrooms and two full bathrooms a very spacious kitchen, living room and dining space. This condo is being sold as is. TLC needed. Community offers a swimming pool!

6. 2026-05-06
   listed $50,000 Active

   Show marketing remark (241 chars)

   Welcome to Normandy Terrace! This end unit ranch style condo offers two full bedrooms and two full bathrooms a very spacious kitchen, living room and dining space. This condo is being sold as is. TLC needed. Community offers a swimming pool!

7. 2026-05-04
   historical $50,000 241-char remark

   Show marketing remark (241 chars)

   Welcome to Normandy Terrace! This end unit ranch style condo offers two full bedrooms and two full bathrooms a very spacious kitchen, living room and dining space. This condo is being sold as is. TLC needed. Community offers a swimming pool!

8. 2015-03-02
   soldstatus $25,000
9. 2014-12-23
   historical
10. 2014-12-18
    listed $29,600 356-char remark

    Show marketing remark (356 chars)

    Great lifestyle! Spacious condo w/ oversized bedrooms. Open kitchen floor plan. Fenced private courtyard plus screened porch for quiet times. Master bedroom w/ private bath & walk-in closet. Newer bathroom. Great sized 2 car garage. Pool & clubhouse. Condo fee includes sewer, water, lawn care, snow removal, ext. maintenance & insurance.

11. 2014-12-18
    listed $29,600

    Show marketing remark (356 chars)

    Great lifestyle! Spacious condo w/ oversized bedrooms. Open kitchen floor plan. Fenced private courtyard plus screened porch for quiet times. Master bedroom w/ private bath & walk-in closet. Newer bathroom. Great sized 2 car garage. Pool & clubhouse. Condo fee includes sewer, water, lawn care, snow removal, ext. maintenance & insurance.

12. 1996-12-20
    historical
13. 1996-12-18
    soldstatus $74,900
14. 1996-12-18
    soldstatus $74,900
15. 1996-10-31
    listed $74,900
16. 1996-10-28
    listed $74,900

ⓘ 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: $992 · $83/mo
• Projected year-2 tax: $992 · $83/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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,841
• − Mortgage interest: −$2,801
• − Property taxes: −$992
• − Insurance: −$250
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − HOA: −$4,260
• − Depreciation: −$1,455
• Taxable income: $1,869
• Est. tax owed @ 24.0%: −$449
• After-tax cash flow: $1,837/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 — 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

• City population: 93,814
• Population (ZIP): 19,750

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 0.59)
• Race & ethnicity: White 51% Black 38% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Arabic 3% 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: ▼ -82.08%
• Current HPI: 202.407
• 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

-33.2% since first listed

16 events — show timeline

• 2026-05-21 Pending — MiRealSource-MiMLS
• 2026-05-21 Pending — REALCOMP
• 2026-05-11 Contingent — MiRealSource-MiMLS
• 2026-05-11 Contingent — REALCOMP
• 2026-05-06 Listed $50,000 MiRealSource-MiMLS
• 2026-05-06 Listed $50,000 REALCOMP
• 2026-05-04 Coming Soon $50,000 MiRealSource-MiMLS
• 2015-03-02 Sold (Public Records) $25,000 Public Records
• 2014-12-23 Listing Removed — MiRealSource-MiMLS
• 2014-12-18 Listed $29,600 MiRealSource-MiMLS
• 2014-12-18 Listed $29,600 REALCOMP
• 1996-12-20 Listing Removed — MiRealSource-MiMLS
• 1996-12-18 Sold (MLS) $74,900 REALCOMP
• 1996-12-18 Sold (MLS) $74,900 MiRealSource-MiMLS
• 1996-10-31 Listed $74,900 MiRealSource-MiMLS
• 1996-10-28 Listed $74,900 REALCOMP

Property tax history

-0.4%/yr

Latest (2025): $992 · +3.2% YoY. Source: county tax records.