1478 Coachlight Lot 68 · Flint, MI 48532

$47,000

3 bd · 2.0 ba · 1,232 sqft · SingleFamily · 104 Days on market

Built 1996 Average condition $38/sqft · 62% below area ↓ 6% since listing

---

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
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOVE IN READY & AFFORDABLE! Looking for space, comfort, and value? This charming 3-bedroom, 2-bath home in the Carmen-Ainsworth School District checks all the boxes! Featuring an open floor plan, spacious kitchen with ample cabinetry, private primary suite with full bath, and generously sized secondary bedrooms, this home is designed for easy living. Nestled in a peaceful community with easy financing options available, this is an incredible opportunity for first-time buyers, downsizers, or anyone looking for affordable homeownership. Why continue renting when you can own your own home? Schedule your private showing today before it's gone!

Key facts

• Open floor plan
• Peaceful community
• Ensuite bath

Tags

• OPEN FLOOR PLAN
• AMPLE CABINET SPACE
• ENSUITE BATH
• WELL-MAINTAINED EXTERIOR
• PEACEFUL COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $47k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $602 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $47k).
• Recommended offer: $43k (9.0% below list) — sets the bar for market timing.
• Cap rate 21.7% vs local median 11.0% 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.
• 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: 109 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $325 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 104 days — a 9% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $42,770 (9.0% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.50% ✓
• Cap rate: 21.66%
• Cash-on-cash: 54.89%
• DSCR: 3.44
• GRM: 3.3

CMA / ARV

• ARV (median comp): $124,927
• List price: $47,000
• Delta: -62.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4051 Red Wing Dr	0.20mi	3/2.0	1,350 (+10%)	4mo	$148,000	$110	71
1551 Algonac Dr	0.13mi	3/1.5	1,190 (-3%)	19mo	$107,000	$90	71
4262 W Court St	0.27mi	3/1.0	1,220 (-1%)	15mo	$165,000	$135	70
1512 Lambden Rd	0.13mi	3/1.0	1,286 (+4%)	16mo	$120,000	$93	70
1478 Crescent (lot 68) Ln	0.58mi	3/2.0	1,232 (0%)	16mo	$40,000	$32	60
3345 Ridgecliffe Dr	0.62mi	3/1.5	1,244 (+1%)	10mo	$118,000	$95	59
4397 W Court St	0.51mi	3/1.5	1,260 (+2%)	16mo	$141,000	$112	57
4101 Brown St	0.39mi	3/1.0	1,176 (-4%)	23mo	$119,000	$101	51
4097 Brown St	0.38mi	3/2.0	1,050 (-15%)	10mo	$147,000	$140	50
2105 Eberly Rd	0.44mi	3/2.0	1,072 (-13%)	10mo	$160,000	$149	49
2176 Anoka St	0.58mi	2/1.0 (-1)	1,123 (-9%)	9mo	$115,000	$102	42
G-3366 W Court St	0.58mi	3/1.5	1,350 (+10%)	21mo	$135,000	$100	37

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: 53.1%
• Equity multiple: 3.34×
• Total profit: $30,744
• Equity at exit: $7,008

10-year hold

• IRR: 58.4%
• Equity multiple: 6.79×
• Total profit: $76,215
• Equity at exit: $4,064

Cash invested: $13,160 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 8 active · 2 under contract
• Months of supply: 12.0 mo (8%/mo absorbed)
• Median asking: $132,400 ($109/sqft)
• Median days on market: 43 d
• This list price: 12% of active listings are priced below it
• ARV vs active asking: -7.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48532

• Home prices YoY: -28.9%
• Active inventory: 109
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,173 high
• Mortgage (P&I): −$246
• Tax est. 1.5%: −$59 /mo · $705/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $602

Break-even live

Break-even rent $411

Max offer price $47,000

Occupancy floor 44%

Sensitivity live

Price	-10% $634	-5% $618	+0% $602	+5% $586	+10% $570
Rent	-10% $509	-5% $556	+0% $602	+5% $648	+10% $695
Rate	-1.0pp $626	-0.5pp $614	base $602	+0.5pp $590	+1.0pp $577

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: $11,750
• Closing costs: $1,410
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 7 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	62d	1	0.73mi
2198 Utley Rd Flint, MI	3.0	2.0	1400	$1,400	$1.00	93d	1	0.81mi
3901 Herrick St Flint, MI	3.0	1.5	1100	$1,300	$1.18	62d	1	1.21mi
3929 Larchmont St Flint, MI	2.0	1.0	900	$1,100	$1.22	62d	1	1.23mi
3701 Whitney Ave Flint, MI	2.0	1.0	850	$900	$1.06	62d	1	1.26mi
3713 Gratiot Ave Flint, MI	4.0	1.0	1400	$1,400	$1.00	70d	1	1.31mi
806 Barney Ave Flint, MI	2.0	1.0	1000	$1,000	$1.00	70d	1	1.34mi

Property features AI

Exterior

• Parking: No garage
• Utilities: Public waterPublic sewer
• Home design: Single-family residenceOne storyGround-level entry with steps
• Construction: Aluminum sidingSlab foundation
• Exterior features: Paved road accessLot measures approximately 10 x 10 acres

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced-air heating (natural gas)No cooling
• Interior features: Five total rooms

Listing history 50 events

1. 2026-08-05
   days on market $47,000 Active 104 DOM
2. 2026-08-04
   days on market $47,000 Active 103 DOM
3. 2026-08-03
   days on market $47,000 Active 102 DOM
4. 2026-08-01
   listing id $47,000 Active 99 DOM
5. 2026-07-31
   days on market $47,000 Active 99 DOM
6. 2026-07-30
   days on market $47,000 Active 98 DOM
7. 2026-07-29
   days on market $47,000 Active 97 DOM
8. 2026-07-27
   days on market $47,000 Active 95 DOM
9. 2026-07-25
   days on market $47,000 Active 93 DOM
10. 2026-07-23
    listing id $47,000 Active 91 DOM
11. 2026-07-23
    days on market $47,000 Active 91 DOM
12. 2026-07-22
    days on market $47,000 Active 90 DOM
13. 2026-07-21
    days on market $47,000 Active 89 DOM
14. 2026-07-18
    days on market $47,000 Active 86 DOM
15. 2026-07-16
    days on market $47,000 Active 84 DOM
16. 2026-07-16
    days on market $47,000 Active 83 DOM
17. 2026-07-14
    days on market $47,000 Active 82 DOM
18. 2026-07-13
    days on market $47,000 Active 81 DOM
19. 2026-07-12
    days on market $47,000 Active 80 DOM
20. 2026-07-11
    days on market $47,000 Active 79 DOM
21. 2026-07-10
    days on market $47,000 Active 78 DOM
22. 2026-07-09
    days on market $47,000 Active 77 DOM
23. 2026-07-08
    days on market $47,000 Active 76 DOM
24. 2026-07-07
    days on market $47,000 Active 75 DOM
25. 2026-07-06
    days on market $47,000 Active 74 DOM
26. 2026-07-05
    days on market $47,000 Active 73 DOM
27. 2026-07-04
    days on market $47,000 Active 72 DOM
28. 2026-07-03
    days on market $47,000 Active 71 DOM
29. 2026-07-02
    days on market $47,000 Active 70 DOM
30. 2026-07-01
    days on market $47,000 Active 69 DOM
31. 2026-06-30
    days on market $47,000 Active 68 DOM
32. 2026-06-29
    days on market $47,000 Active 67 DOM
33. 2026-06-28
    days on market $47,000 Active 66 DOM
34. 2026-06-28
    days on market $47,000 Active 65 DOM
35. 2026-06-27
    days on market $47,000 Active 64 DOM
36. 2026-06-25
    days on market $47,000 Active 62 DOM
37. 2026-06-23
    days on market $47,000 Active 60 DOM
38. 2026-06-21
    days on market $47,000 Active 59 DOM
39. 2026-06-18
    days on market $47,000 Active 56 DOM
40. 2026-06-17
    days on market $47,000 Active 55 DOM
41. 2026-06-16
    days on market $47,000 Active 54 DOM
42. 2026-06-15
    days on market $47,000 Active 53 DOM
43. 2026-06-14
    days on market $47,000 Active 51 DOM
44. 2026-06-13
    remarks 649-char remark
45. 2026-06-13
    days on market $47,000 Active 50 DOM
46. 2026-06-10
    days on market $47,000 Active 48 DOM
47. 2026-06-09
    days on market $47,000 Active 47 DOM
48. 2026-06-08
    days on market $47,000 Active 46 DOM
49. 2026-06-07
    days on market $47,000 Active 45 DOM
50. 2026-06-05
    remarks 470-char remark

    Show marketing remark (653 chars)

    MOVE IN READY & AFFORDABLE! Looking for space, comfort, and value? This charming 3-bedroom, 2-bath home in the Carmen-Ainsworth School District checks all the boxes! Featuring an open floor plan, spacious kitchen with ample cabinetry, private primary suite with full bath, and generously sized secondary bedrooms, this home is designed for easy living. Nestled in a peaceful community with easy financing options available, this is an incredible opportunity for first-time buyers, downsizers, or anyone looking for affordable homeownership. Why continue renting when you can own your own home? Schedule your private showing today before it's gone!

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

Taxation est. · year 1

• Rental income: $14,078
• − Mortgage interest: −$2,633
• − Property taxes: −$705
• − Insurance: −$235
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$1,367
• Taxable income: $6,886
• Est. tax owed @ 24.0%: −$1,653
• After-tax cash flow: $5,572/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.

Condition & rehab AI · 12 photos

Average 55/100 Cosmetic rehab Est. rehab $6,160–$18,480 screening

This home is in average condition with some cosmetic repairs needed. It has a good layout and is located in a desirable school district. Simple updates can significantly increase its value.

Repairs flagged

• Minor exterior siding — some discoloration
• Minor interior paint — some wear
• Minor landscaping — some overgrowth

Value-add opportunities

• Resale paint interior walls — enhances curb appeal ↑
• Resale replace exterior siding — improves home's appearance ↑
• Rental prune landscaping — improves curb appeal and attracts tenants ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 18/100

Zoned Schools

Elementary Dye Elementary School F MI #1,172/1,397 Nat'l #36,424/41,679 High Carmanainsworth High School F MI #595/713 Nat'l #13,947/17,239

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

B Composite livability gradescore 74/100

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

• County: Genesee · 381,312 people
• City population: 93,814
• Metro: Flint, MI
• Population (ZIP): 19,750
• Household income: $58,118
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 10% of renters

---

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

Property features AI

Exterior

• Parking: No garage
• Utilities: Public waterPublic sewer
• Home design: Single-family residenceOne storyGround-level entry with steps
• Construction: Aluminum sidingSlab foundation
• Exterior features: Paved road accessLot measures approximately 10 x 10 acres

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced-air heating (natural gas)No cooling
• Interior features: Five total rooms

Price history

-6.0% since first listed

4 events — show timeline

• 2026-06-05 Price Changed $47,000 MiRealSource-MiMLS
• 2026-06-04 Price Changed $47,000 REALCOMP
• 2026-04-23 Listed $50,000 REALCOMP
• 2026-04-23 Listed $50,000 MiRealSource-MiMLS