3128 Sloan St · Flint, MI 48504

$39,750

3 bd · 1.0 ba · 861 sqft · SingleFamily public records · 37 Days on market

Built 1957 4,356 sqft lot Est $46k · 13% under ↓ 20% 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
• ARV discount +13.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

This charming 3-bedroom, 1 bath home in Flint offers incredible value and endless potential with only minimal rehab needed to make it shine. Situated on a quiet street, this home features a spacious living room that flows nicely into the dining area, creating a warm and welcoming layout perfect for everyday living or entertaining. The kitchen is functional and ready for your personal touches, while the three generously sized bedrooms provide plenty of room for a growing family or tenants. Downstairs, you'll find a massive full basement with high ceilings - ideal for storage, a future rec room, laundry, or workshop space. With just some light cosmetic work remaining, this home is move-in ready for an owner-occupant or perfect for an investor looking for a strong cash-flow opportunity. Whether you're buying your first home or adding to your rental portfolio, this property delivers excellent bones, a full basement, and real upside at an attractive price point. Don't miss out on this solid investment or primary residence in Flint - schedule your showing today and see the possibilities for yourself!

Key facts

• Functional kitchen
• High ceilings
• Spacious living room

Tags

• SPACIOUS LIVING ROOM
• FUNCTIONAL KITCHEN
• MASSIVE FULL BASEMENT
• HIGH CEILINGS

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps; Wood siding exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 0.1 acre (40 x 105)

Interior

• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $422 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($937 rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 11.5% 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: 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: 131 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 64% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $274 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 18 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 $20k; list at $40k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $38,557 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 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 1957 — 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. 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 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: 2.36% ✓
• Cap rate: 19.03%
• Cash-on-cash: 45.50%
• DSCR: 3.02
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $45,633
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1457 Mitson Blvd	0.29mi	3/1.0	900 (+4%)	5mo	$48,000	$53	75
1271 Donaldson Blvd	0.28mi	3/1.0	926 (+8%)	0mo	$126,500	$137	74
2930 Prospect St	0.29mi	3/1.0	808 (-6%)	6mo	$17,900	$22	71
3360 Walton Ave	0.45mi	3/1.0	912 (+6%)	9mo	$54,000	$59	62
2852 Wolcott St	0.38mi	3/1.0	942 (+9%)	8mo	$34,000	$36	60
2915 Berkley St	0.25mi	2/1.0 (-1)	987 (+15%)	4mo	$27,500	$28	56
3288 Kissner Ave	0.39mi	2/1.0 (-1)	780 (-9%)	8mo	$40,000	$51	54
2622 Concord St	0.70mi	3/1.0	939 (+9%)	1mo	$7,000	$7	51
2331 Welch Blvd	0.75mi	3/1.0	912 (+6%)	7mo	$69,900	$77	49
2602 Sloan St	0.70mi	3/1.0	955 (+11%)	2mo	$25,000	$26	48
2540 Altoona St	0.73mi	2/1.0 (-1)	768 (-11%)	3mo	$50,000	$65	40
2556 Altoona St	0.69mi	2/1.0 (-1)	768 (-11%)	8mo	$60,000	$78	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: 42.7%
• Equity multiple: 2.84×
• Total profit: $20,479
• Equity at exit: $5,927

10-year hold

• IRR: 48.8%
• Equity multiple: 5.73×
• Total profit: $52,609
• Equity at exit: $3,437

Cash invested: $11,130 (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: 131
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $937 high
• Mortgage (P&I): −$208
• Tax from tax record: −$93 /mo · $1,116/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $422

Break-even live

Break-even rent $403

Max offer price $39,750

Occupancy floor 50%

Sensitivity live

Price	-10% $445	-5% $433	+0% $422	+5% $411	+10% $400
Rent	-10% $348	-5% $385	+0% $422	+5% $459	+10% $496
Rate	-1.0pp $442	-0.5pp $432	base $422	+0.5pp $412	+1.0pp $401

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: $9,938
• Closing costs: $1,192
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3616 Concord St Unit CON3616 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.12mi
314 Sheffield Ave Flint, MI	2.0	1.0	896	$1,250	$1.40	21d	1	1.14mi
2332 Fredonia Ave Unit FRE2332 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.19mi
2410 Gena Ann Ln Flint, MI	3.0	2.0	960	$895	$0.93	45d	1	1.22mi
2410 Gena Ann Ln Unit GEN2410 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.22mi
2419 Gena Ann Ln Unit GEN2419 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.26mi
2462 Gena Ann Ln Unit GEN2462 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.33mi
3376 Preston Pl Unit PRE3376 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.34mi
806 Barney Ave Flint, MI	2.0	1.0	1000	$1,000	$1.00	21d	1	1.37mi
3221 Burgess St Flint, MI	2.0	1.0	755	$875	$1.16	21d	1	1.43mi
3506 Brownell Blvd Flint, MI	2.0	1.0	600	$825	$1.38	14d	1	1.46mi

Listing history 50 events

1. 2026-06-18
   days on market $39,750 Active 37 DOM
2. 2026-06-17
   days on market $39,750 Active 36 DOM
3. 2026-06-16
   days on market $39,750 Active 35 DOM
4. 2026-06-15
   days on market $39,750 Active 34 DOM
5. 2026-06-14
   days on market $39,750 Active 32 DOM
6. 2026-06-13
   days on market $39,750 Active 31 DOM
7. 2026-06-10
   days on market $39,750 Active 29 DOM
8. 2026-06-09
   days on market $39,750 Active 28 DOM
9. 2026-06-08
   days on market $39,750 Active 27 DOM
10. 2026-06-07
    days on market $39,750 Active 26 DOM
11. 2026-06-05
    days on market $39,750 Active 23 DOM
12. 2026-06-03
    days on market $39,750 Active 22 DOM
13. 2026-06-03
    price $39,750 Active 21 DOM
14. 2026-06-02
    days on market $39,900 Active 21 DOM
15. 2026-06-01
    days on market $39,900 Active 20 DOM
16. 2026-05-31
    days on market $39,900 Active 19 DOM
17. 2026-05-30
    days on market $39,900 Active 18 DOM
18. 2026-05-12
    listed $39,900 Active

    Show marketing remark (1115 chars)

    This charming 3-bedroom, 1 bath home in Flint offers incredible value and endless potential with only minimal rehab needed to make it shine. Situated on a quiet street, this home features a spacious living room that flows nicely into the dining area, creating a warm and welcoming layout perfect for everyday living or entertaining. The kitchen is functional and ready for your personal touches, while the three generously sized bedrooms provide plenty of room for a growing family or tenants. Downstairs, you'll find a massive full basement with high ceilings - ideal for storage, a future rec room, laundry, or workshop space. With just some light cosmetic work remaining, this home is move-in ready for an owner-occupant or perfect for an investor looking for a strong cash-flow opportunity. Whether you're buying your first home or adding to your rental portfolio, this property delivers excellent bones, a full basement, and real upside at an attractive price point. Don't miss out on this solid investment or primary residence in Flint - schedule your showing today and see the possibilities for yourself!

19. 2026-05-12
    listed $39,900 Active 1115-char remark

    Show marketing remark (1115 chars)

    This charming 3-bedroom, 1 bath home in Flint offers incredible value and endless potential with only minimal rehab needed to make it shine. Situated on a quiet street, this home features a spacious living room that flows nicely into the dining area, creating a warm and welcoming layout perfect for everyday living or entertaining. The kitchen is functional and ready for your personal touches, while the three generously sized bedrooms provide plenty of room for a growing family or tenants. Downstairs, you'll find a massive full basement with high ceilings - ideal for storage, a future rec room, laundry, or workshop space. With just some light cosmetic work remaining, this home is move-in ready for an owner-occupant or perfect for an investor looking for a strong cash-flow opportunity. Whether you're buying your first home or adding to your rental portfolio, this property delivers excellent bones, a full basement, and real upside at an attractive price point. Don't miss out on this solid investment or primary residence in Flint - schedule your showing today and see the possibilities for yourself!

20. 2017-08-31
    status Pending
21. 2017-06-29
    price $14,900
22. 2017-05-23
    listed $18,000 Active
23. 2017-05-22
    listed $14,900 259-char remark

    Show marketing remark (259 chars)

    Great Starter!! Charming Cape Cod with 3 bedrooms, 1 full bathroom, fresh paint, nice hardwood floors in living room and bedrooms, new vinyl in kitchen and bathroom, full basement and 1 car detached garage, fenced yard close to conveniences, Bring all offers.

24. 2015-05-06
    historical
25. 2015-05-05
    historical
26. 2014-05-05
    listed $21,600
27. 2014-05-05
    listed $21,600
28. 2010-12-06
    historical
29. 2010-12-06
    historical
30. 2010-12-06
    historical
31. 2010-12-06
    historical
32. 2010-12-06
    historical
33. 2007-05-10
    listed $39,000
34. 2007-05-10
    listed $39,000
35. 2007-05-10
    historical
36. 2006-05-28
    listed $42,900
37. 2006-05-28
    listed $42,900
38. 2006-05-28
    historical
39. 2005-08-18
    listed $45,900
40. 2005-08-18
    listed $45,900
41. 2005-08-18
    historical
42. 2005-02-01
    listed $49,900
43. 2005-02-01
    listed $49,900
44. 2005-02-01
    historical
45. 2004-01-20
    soldstatus $20,000
46. 1997-10-18
    historical
47. 1997-07-21
    listed $46,900
48. 1997-07-21
    listed $46,900
49. 1997-03-28
    historical
50. 1997-03-28
    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: $1,116 · $93/mo
• Projected year-2 tax: $1,116 · $93/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: $11,242
• − Mortgage interest: −$2,227
• − Property taxes: −$1,116
• − Insurance: −$199
• − Repairs & maintenance: −$899
• − Management: −$899
• − Depreciation: −$1,156
• Taxable income: $4,745
• Est. tax owed @ 24.0%: −$1,139
• After-tax cash flow: $3,926/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

-20.0% since first listed

35 events — show timeline

• 2026-05-12 Listed $39,900 MiRealSource-MiMLS
• 2026-05-12 Listed $39,900 REALCOMP
• 2017-08-31 Pending — MiRealSource-MiMLS
• 2017-06-29 Price Changed $14,900 MiRealSource-MiMLS
• 2017-05-23 Listed $18,000 MiRealSource-MiMLS
• 2017-05-22 Listed $14,900 REALCOMP
• 2015-05-06 Listing Removed — REALCOMP
• 2015-05-05 Listing Removed — MiRealSource-MiMLS
• 2014-05-05 Listed $21,600 MiRealSource-MiMLS
• 2014-05-05 Listed $21,600 REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2007-05-10 Listing Removed — MiRealSource-MiMLS
• 2007-05-10 Listed $39,000 MiRealSource-MiMLS
• 2007-05-10 Listed $39,000 REALCOMP
• 2006-05-28 Listing Removed — MiRealSource-MiMLS
• 2006-05-28 Listed $42,900 MiRealSource-MiMLS
• 2006-05-28 Listed $42,900 REALCOMP
• 2005-08-18 Listing Removed — MiRealSource-MiMLS
• 2005-08-18 Listed $45,900 MiRealSource-MiMLS
• 2005-08-18 Listed $45,900 REALCOMP
• 2005-02-01 Listing Removed — MiRealSource-MiMLS
• 2005-02-01 Listed $49,900 MiRealSource-MiMLS
• 2005-02-01 Listed $49,900 REALCOMP
• 2004-01-20 Sold (Public Records) $20,000 Public Records
• 1997-10-18 Listing Removed — MiRealSource-MiMLS
• 1997-07-21 Listed $46,900 MiRealSource-MiMLS
• 1997-07-21 Listed $46,900 REALCOMP
• 1997-03-28 Listing Removed — MiRealSource-MiMLS
• 1997-03-28 Listing Removed — REALCOMP
• 1996-10-28 Listed $49,900 MiRealSource-MiMLS
• 1996-10-28 Listed $49,900 REALCOMP

Property tax history

+1.4%/yr

Latest (2025): $1,116 · +1.7% YoY. Source: county tax records.