1478 Coachlight Lot 68 · Flint, MI 48532

$47,000

3 bd · 2.0 ba · 1,232 sqft · SingleFamily · 56 Days on market

Built 1996 Average condition $38/sqft · 61% below area ↓ 6% 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
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0
• 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

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Aluminum siding; Slab foundation
• Exterior features: Paved road access; Lot 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

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: $46k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.7% 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.
• 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $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 56 days — a 3% lower offer ($46k) 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 $45,590 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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): $120,914
• List price: $47,000
• Delta: -61.13%
• 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%)	2mo	$148,000	$110	72
1551 Algonac Dr	0.13mi	3/1.5	1,190 (-3%)	17mo	$107,000	$90	72
4262 W Court St	0.27mi	3/1.0	1,220 (-1%)	13mo	$165,000	$135	71
1512 Lambden Rd	0.13mi	3/1.0	1,286 (+4%)	14mo	$120,000	$93	71
1478 Crescent (lot 68) Ln	0.58mi	3/2.0	1,232 (0%)	14mo	$40,000	$32	62
3345 Ridgecliffe Dr	0.62mi	3/1.5	1,244 (+1%)	9mo	$118,000	$95	60
4397 W Court St	0.51mi	3/1.5	1,260 (+2%)	14mo	$141,000	$112	59
4101 Brown St	0.39mi	3/1.0	1,176 (-4%)	21mo	$119,000	$101	52
4097 Brown St	0.38mi	3/2.0	1,050 (-15%)	8mo	$147,000	$140	51
2105 Eberly Rd	0.44mi	3/2.0	1,072 (-13%)	8mo	$160,000	$149	51
2176 Anoka St	0.58mi	2/1.0 (-1)	1,123 (-9%)	8mo	$115,000	$102	43
G-3366 W Court St	0.58mi	3/1.5	1,350 (+10%)	20mo	$135,000	$100	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: 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 →

ZIP-level market 48532

• Home prices YoY: -28.9%
• Active inventory: 123
• 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
• 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	14d	1	0.73mi
2198 Utley Rd Flint, MI	3.0	2.0	1400	$1,400	$1.00	44d	1	0.81mi
3901 Herrick St Flint, MI	3.0	1.5	1100	$1,300	$1.18	14d	1	1.21mi
3929 Larchmont St Flint, MI	2.0	1.0	900	$1,100	$1.22	14d	1	1.23mi
3701 Whitney Ave Flint, MI	2.0	1.0	850	$900	$1.06	14d	1	1.26mi
3713 Gratiot Ave Flint, MI	4.0	1.0	1400	$1,400	$1.00	21d	1	1.31mi
806 Barney Ave Flint, MI	2.0	1.0	1000	$1,000	$1.00	21d	1	1.34mi

Listing history 19 events

1. 2026-06-18
   days on market $47,000 Active 56 DOM
2. 2026-06-17
   days on market $47,000 Active 55 DOM
3. 2026-06-16
   days on market $47,000 Active 54 DOM
4. 2026-06-15
   days on market $47,000 Active 53 DOM
5. 2026-06-14
   days on market $47,000 Active 51 DOM
6. 2026-06-13
   remarks 649-char remark
7. 2026-06-13
   days on market $47,000 Active 50 DOM
8. 2026-06-10
   days on market $47,000 Active 48 DOM
9. 2026-06-09
   days on market $47,000 Active 47 DOM
10. 2026-06-08
    days on market $47,000 Active 46 DOM
11. 2026-06-07
    days on market $47,000 Active 45 DOM
12. 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!

13. 2026-06-05
    pricedays on market $47,000 Active 42 DOM

    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!

14. 2026-06-02
    days on market $50,000 Active 40 DOM
15. 2026-06-01
    days on market $50,000 Active 39 DOM
16. 2026-05-31
    days on market $50,000 Active 38 DOM
17. 2026-05-30
    days on market $50,000 Active 37 DOM
18. 2026-04-23
    listed $50,000 Active 439-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!

19. 2026-04-23
    listed $50,000 Active 439-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

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

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · some discoloration	Minor	$500–3,000
interior paint · some wear	Minor	$500–3,000
landscaping · some overgrowth	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

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

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-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