2244 Milbourne Ave · Flint, MI 48504

$11,900

3 bd · 1.5 ba · 1,194 sqft · SingleFamily public records · 52 Days on market

Built 1929 5,227 sqft lot ↓ 50% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor alert! Rare opportunity to secure a large full-rehab property with serious upside potential. This is a true clean-slate project - perfect for investors looking to execute a high-margin renovation and maximize returns. The interior requires a complete gut, giving you full control to redesign layout, finishes, and functionality to drive top-of-market value. One of the biggest advantages here is the size of the home, which directly supports a higher after-repair value (ARV) compared to smaller properties in the area. Larger square footage opens the door for more bedrooms, improved layouts, and stronger resale or rental income potential. Additionally, the exterior presents well, offering a solid foundation and helping reduce overall renovation costs versus typical full gut projects. With strong comps nearby, consistent investor activity, and demand for larger homes, this property is positioned for a high-value exit or long-term cash flow play. Conveniently located near major roads, shopping, and local amenities, adding to tenant and buyer appeal. Opportunities like this - large footprint, clean interior slate, solid exterior, and strong ARV potential - are hard to find at this price point. Novation: Buyer has equitable interest in the property and is marketing the property with the owner's authorization in order to locate a new buyer.

Key facts

• Full rehab property
• Clean slate project
• Solid foundation

Tags

• FULL REHAB PROPERTY
• CLEAN SLATE PROJECT
• COMPLETE GUT
• LARGER SQUARE FOOTAGE
• SOLID FOUNDATION
• STRONG COMPS NEARBY

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level with ground-level entry and steps; Wood siding construction
• Construction: Wood siding exterior
• Exterior features: Paved road access; Lot approximately 0.12 acres (20 x 265)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Total of 5 rooms

🏷️ Possibly a rental listed for sale. The $11,900 price doesn't fit this home's estimated sale value (~$32,238) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($970 rent vs $12k).
• Recommended offer: $12k (3.0% below list) — sets the bar for market timing.
• Cap rate 75.3% vs local median 11.6% in Flint — 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 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: 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.
• Zoned schools: Holmes Stem Middle School Academy (math 10% / reading 30%, grade F, #420 of 493 statewide, top 86%, 324 students, 90% FRL).
• Market conditions: 132 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $82 of loan paydown is wiped out by about $357 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($12k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 25y ago; this cycle's ask has dropped $6k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $550; list at $12k implies a 2064% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $11,543 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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 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: 8.15% ✓
• Cap rate: 75.27%
• Cash-on-cash: 246.35%
• DSCR: 11.96
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $32,238
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
317 W Witherbee St	0.45mi	3/1.0	1,196 (+0%)	6mo	$125,000	$105	72
501 W Witherbee St	0.34mi	3/1.0	1,274 (+7%)	3mo	$39,000	$31	68
506 Green St	0.30mi	3/1.0	1,312 (+10%)	1mo	$52,000	$40	67
115 W Baker St	0.61mi	3/1.0	1,200 (+0%)	3mo	$32,000	$27	66
1101 W Rankin St	0.21mi	2/1.0 (-1)	1,100 (-8%)	6mo	$25,000	$23	65
2525 Begole St	0.49mi	3/1.5	1,134 (-5%)	6mo	$24,000	$21	64
617 W Witherbee St	0.26mi	3/1.0	1,330 (+11%)	4mo	$15,525	$12	64
2217 Francis Ave	0.74mi	3/1.5	1,257 (+5%)	0mo	$31,500	$25	56
2112 Winona St	0.62mi	3/1.5	1,292 (+8%)	1mo	$30,000	$23	56
2038 Copeman Blvd	0.59mi	3/1.0	1,077 (-10%)	1mo	$67,000	$62	54
325 W Dewey St	0.68mi	4/1.0 (+1)	1,224 (+2%)	7mo	$25,000	$20	51
2714 Barth St	0.68mi	3/2.0	1,092 (-8%)	7mo	$40,000	$37	46

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: —
• Equity multiple: 13.50×
• Total profit: $41,653
• Equity at exit: $1,774

10-year hold

• IRR: —
• Equity multiple: 28.74×
• Total profit: $92,429
• Equity at exit: $1,029

Cash invested: $3,332 (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 48504

• Active inventory: 132
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $970 high
• Mortgage (P&I): −$62
• Tax est. 1.5%: −$15 /mo · $178/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $684

Break-even live

Break-even rent $104

Max offer price $11,900

Occupancy floor 24%

Sensitivity live

Price	-10% $692	-5% $688	+0% $684	+5% $680	+10% $676
Rent	-10% $607	-5% $646	+0% $684	+5% $722	+10% $761
Rate	-1.0pp $690	-0.5pp $687	base $684	+0.5pp $681	+1.0pp $678

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: $2,975
• Closing costs: $357
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
711 W Dewey St Flint, MI	3.0	1.0	1011	$925	$0.91	22d	1	0.59mi
3221 Burgess St Flint, MI	2.0	1.0	755	$875	$1.16	22d	1	0.64mi
1540 Garland St Flint, MI	3.0	2.5	1344	$1,017	$0.76	22d	1	0.83mi
2544 Tyrone St Flint, MI	2.0	1.0	1440	$825	$0.57	15d	1	1.28mi
2428 Norbert St Flint, MI	3.0	1.0	1200	$1,250	$1.04	22d	1	1.38mi

Listing history 50 events

1. 2026-06-21
   days on market $11,900 Active 52 DOM
2. 2026-06-18
   days on market $11,900 Active 49 DOM
3. 2026-06-17
   days on market $11,900 Active 48 DOM
4. 2026-06-16
   days on market $11,900 Active 47 DOM
5. 2026-06-15
   pricedays on market $11,900 Active 46 DOM
6. 2026-06-14
   days on market $12,750 Active 44 DOM
7. 2026-06-13
   days on market $12,750 Active 43 DOM
8. 2026-06-10
   days on market $12,750 Active 41 DOM
9. 2026-06-09
   days on market $12,750 Active 40 DOM
10. 2026-06-08
    days on market $12,750 Active 39 DOM
11. 2026-06-07
    days on market $12,750 Active 38 DOM
12. 2026-06-05
    days on market $12,750 Active 35 DOM
13. 2026-06-03
    pricedays on market $12,750 Active 34 DOM
14. 2026-06-02
    pricedays on market $12,999 Active 33 DOM
15. 2026-06-01
    days on market $13,999 Active 32 DOM
16. 2026-05-31
    days on market $13,999 Active 31 DOM
17. 2026-05-30
    days on market $13,999 Active 30 DOM
18. 2026-05-10
    price $14,999 1361-char remark

    Show marketing remark (1361 chars)

    Investor alert! Rare opportunity to secure a large full-rehab property with serious upside potential. This is a true clean-slate project - perfect for investors looking to execute a high-margin renovation and maximize returns. The interior requires a complete gut, giving you full control to redesign layout, finishes, and functionality to drive top-of-market value. One of the biggest advantages here is the size of the home, which directly supports a higher after-repair value (ARV) compared to smaller properties in the area. Larger square footage opens the door for more bedrooms, improved layouts, and stronger resale or rental income potential. Additionally, the exterior presents well, offering a solid foundation and helping reduce overall renovation costs versus typical full gut projects. With strong comps nearby, consistent investor activity, and demand for larger homes, this property is positioned for a high-value exit or long-term cash flow play. Conveniently located near major roads, shopping, and local amenities, adding to tenant and buyer appeal. Opportunities like this - large footprint, clean interior slate, solid exterior, and strong ARV potential - are hard to find at this price point. Novation: Buyer has equitable interest in the property and is marketing the property with the owner's authorization in order to locate a new buyer.

19. 2026-05-09
    price $14,999
20. 2026-04-29
    listed $17,500 Active 1361-char remark

    Show marketing remark (1361 chars)

    Investor alert! Rare opportunity to secure a large full-rehab property with serious upside potential. This is a true clean-slate project - perfect for investors looking to execute a high-margin renovation and maximize returns. The interior requires a complete gut, giving you full control to redesign layout, finishes, and functionality to drive top-of-market value. One of the biggest advantages here is the size of the home, which directly supports a higher after-repair value (ARV) compared to smaller properties in the area. Larger square footage opens the door for more bedrooms, improved layouts, and stronger resale or rental income potential. Additionally, the exterior presents well, offering a solid foundation and helping reduce overall renovation costs versus typical full gut projects. With strong comps nearby, consistent investor activity, and demand for larger homes, this property is positioned for a high-value exit or long-term cash flow play. Conveniently located near major roads, shopping, and local amenities, adding to tenant and buyer appeal. Opportunities like this - large footprint, clean interior slate, solid exterior, and strong ARV potential - are hard to find at this price point. Novation: Buyer has equitable interest in the property and is marketing the property with the owner's authorization in order to locate a new buyer.

21. 2026-04-29
    listed $17,500 Active

    Show marketing remark (1361 chars)

    Investor alert! Rare opportunity to secure a large full-rehab property with serious upside potential. This is a true clean-slate project - perfect for investors looking to execute a high-margin renovation and maximize returns. The interior requires a complete gut, giving you full control to redesign layout, finishes, and functionality to drive top-of-market value. One of the biggest advantages here is the size of the home, which directly supports a higher after-repair value (ARV) compared to smaller properties in the area. Larger square footage opens the door for more bedrooms, improved layouts, and stronger resale or rental income potential. Additionally, the exterior presents well, offering a solid foundation and helping reduce overall renovation costs versus typical full gut projects. With strong comps nearby, consistent investor activity, and demand for larger homes, this property is positioned for a high-value exit or long-term cash flow play. Conveniently located near major roads, shopping, and local amenities, adding to tenant and buyer appeal. Opportunities like this - large footprint, clean interior slate, solid exterior, and strong ARV potential - are hard to find at this price point. Novation: Buyer has equitable interest in the property and is marketing the property with the owner's authorization in order to locate a new buyer.

22. 2012-04-15
    soldstatus $550 65-char remark

    Show marketing remark (65 chars)

    This is a Fannie Mae HomePath property. Needs TLC. Three bedrooms

23. 2012-04-15
    soldstatus $550

    Show marketing remark (65 chars)

    This is a Fannie Mae HomePath property. Needs TLC. Three bedrooms

24. 2012-04-02
    historical 65-char remark

    Show marketing remark (65 chars)

    This is a Fannie Mae HomePath property. Needs TLC. Three bedrooms

25. 2012-04-02
    historical

    Show marketing remark (65 chars)

    This is a Fannie Mae HomePath property. Needs TLC. Three bedrooms

26. 2012-02-06
    listed $599 65-char remark

    Show marketing remark (65 chars)

    This is a Fannie Mae HomePath property. Needs TLC. Three bedrooms

27. 2012-02-06
    listed $599

    Show marketing remark (65 chars)

    This is a Fannie Mae HomePath property. Needs TLC. Three bedrooms

28. 2012-02-04
    historical
29. 2012-02-04
    historical
30. 2011-12-05
    historical
31. 2011-12-04
    historical
32. 2011-11-08
    historical
33. 2011-11-08
    historical
34. 2011-11-07
    listed $3,500
35. 2011-11-07
    listed $3,500
36. 2011-11-07
    historical
37. 2011-11-06
    historical
38. 2011-11-04
    listed $1,900
39. 2011-11-04
    listed $1,900
40. 2011-08-08
    listed $3,800
41. 2011-08-08
    listed $3,800
42. 2011-08-08
    listed $3,800
43. 2011-08-08
    listed $3,800
44. 2010-12-06
    historical
45. 2002-06-09
    soldstatus $12,000
46. 2002-06-09
    soldstatus $12,000
47. 2002-05-08
    historical
48. 2002-02-20
    listed $14,900
49. 2002-02-20
    listed $14,900
50. 2001-09-26
    listed $29,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $11,640
• − Mortgage interest: −$667
• − Property taxes: −$178
• − Insurance: −$60
• − Repairs & maintenance: −$931
• − Management: −$931
• − Depreciation: −$346
• Taxable income: $8,527
• Est. tax owed @ 24.0%: −$2,046
• After-tax cash flow: $6,162/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
• City population: 93,814
• Population (ZIP): 23,873

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 Black (66%)
• Race & ethnicity: Black 66% White 24% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -101.67%
• Current HPI: 94.3111
• 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

-49.8% since first listed

35 events — show timeline

• 2026-05-10 Price Changed $14,999 MiRealSource-MiMLS
• 2026-05-09 Price Changed $14,999 REALCOMP
• 2026-04-29 Listed $17,500 REALCOMP
• 2026-04-29 Listed $17,500 MiRealSource-MiMLS
• 2012-04-15 Sold (MLS) $550 REALCOMP
• 2012-04-15 Sold (MLS) $550 MiRealSource-MiMLS
• 2012-04-02 Listing Removed — REALCOMP
• 2012-04-02 Listing Removed — MiRealSource-MiMLS
• 2012-02-06 Listed $599 REALCOMP
• 2012-02-06 Listed $599 MiRealSource-MiMLS
• 2012-02-04 Listing Removed — MiRealSource-MiMLS
• 2012-02-04 Listing Removed — REALCOMP
• 2011-12-05 Listing Removed — REALCOMP
• 2011-12-04 Listing Removed — MiRealSource-MiMLS
• 2011-11-08 Listing Removed — MiRealSource-MiMLS
• 2011-11-08 Listing Removed — REALCOMP
• 2011-11-07 Listing Removed — REALCOMP
• 2011-11-07 Listed $3,500 MiRealSource-MiMLS
• 2011-11-07 Listed $3,500 REALCOMP
• 2011-11-06 Listing Removed — MiRealSource-MiMLS
• 2011-11-04 Listed $1,900 MiRealSource-MiMLS
• 2011-11-04 Listed $1,900 REALCOMP
• 2011-08-08 Listed $3,800 MiRealSource-MiMLS
• 2011-08-08 Listed $3,800 REALCOMP
• 2011-08-08 Listed $3,800 MiRealSource-MiMLS
• 2011-08-08 Listed $3,800 REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2002-06-09 Sold (MLS) $12,000 REALCOMP
• 2002-06-09 Sold (MLS) $12,000 MiRealSource-MiMLS
• 2002-05-08 Listing Removed — MiRealSource-MiMLS
• 2002-02-20 Listed $14,900 REALCOMP
• 2002-02-20 Listed $14,900 MiRealSource-MiMLS
• 2001-09-26 Listed $29,900 MiRealSource-MiMLS
• 2001-09-26 Listing Removed — MiRealSource-MiMLS
• 2001-09-26 Listed $29,900 REALCOMP

Property tax history

+7.3%/yr

Latest (2025): $1,016 · +283.8% YoY. Source: county tax records.