4102 Farner St · Fenton, MI 48451

$329,900

4 bd · 1.5 ba · 1,581 sqft · SingleFamily · 5 Days on market

Built 1986 0.25 ac lot Est $324k · at est.

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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 +12.8/30.0
• ARV discount +6.7/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this beautifully remodeled tri-level in the highly sought-after Fenton School District! Completely move-in ready, this spacious home offers 4 bedrooms, 1.5 bathrooms, an attached 2-car garage, and sits on a large lot with a fully fenced backyard perfect for pets, play, and entertaining. Major improvements completed within the last five years provide peace of mind, including new windows, siding, roof, central air conditioning, water treatment system, reverse osmosis drinking water system, carpet, appliances, and so much more. Inside, you'll appreciate the fresh paint throughout, a remodeled full bathroom, and the addition of a fourth bedroom, providing flexibility for growing families, guests, or a home office. The recently added door wall offers easy access to the backyard where you'll find a beautiful brick paver patio, creating the perfect outdoor space for relaxing or hosting gatherings. With countless updates already completed, all that's left to do is move in and enjoy. Too many improvements to list! Schedule your private showing today and see everything this exceptional home has to offer.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1986

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Private well water; Public sewer
• Home design: Single-family residence; Residential property; One-story entry level
• Construction: Vinyl siding; Slab foundation; Above-grade finished area approximately 1,581
• Exterior features: Paved road access; Lot dimensions approximately 82 x 132 (0.25 acres)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: 8 total rooms; Ground-level entry

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $330k.

Deal economics

• At list price, monthly cash flow is $-30 ($-364/yr) — negative.
• To cash-flow at today's rent, offer at most $325k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (15.3% below list).
• Recommended offer: $280k (15.3% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.0% in Fenton — 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 77/100 on livability (#130 in MI, #3,197 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: amenities F, commute F.
• Fenton Area Public Schools (suburban): math 38% / reading 57% proficiency, ranked #112 of 540 in MI (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 222 active listings in the ZIP; 1 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 $2k of loan paydown is wiped out by about $10k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 31y 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 $168k; list at $330k implies a 96% gain — meaningful room to come down on a strong offer.

Recommended offer $279,500 (15.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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?
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: 0.85% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.39%
• DSCR: 0.98
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $324,105
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3442 Cottage Cove Dr	0.39mi	3/2.0 (-1)	1,384 (-12%)	1mo	$510,000	$368	53
595 Rockway Dr	0.63mi	4/2.0	1,388 (-12%)	15mo	$285,000	$205	36
684 Haystack Dr	0.71mi	3/1.5 (-1)	1,378 (-13%)	12mo	$247,500	$180	30
324 Rockway Dr	0.70mi	4/3.0	1,806 (+14%)	18mo	$310,000	$172	23
664 HAYSTACK Dr	0.70mi	3/2.0 (-1)	1,348 (-15%)	21mo	$292,000	$217	19

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: -16.9%
• Equity multiple: 0.40×
• Total profit: $-55,371
• Equity at exit: $49,189

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-50,633
• Equity at exit: $28,524

Cash invested: $92,372 (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 48451

• Active inventory: 222
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,795 medium
• Mortgage (P&I): −$1,730
• Tax from tax record: −$371 /mo · $4,450/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$587
• Net cashflow: $-30

Break-even live

Break-even rent $2,833

Max offer price $324,548

Occupancy floor 96%

Sensitivity live

Price	-10% $156	-5% $63	+0% $-30	+5% $-124	+10% $-217
Rent	-10% $-251	-5% $-141	+0% $-30	+5% $80	+10% $191
Rate	-1.0pp $136	-0.5pp $54	base $-30	+0.5pp $-116	+1.0pp $-203

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: $82,475
• Closing costs: $9,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
334 Saddlebrook Dr Linden, MI	4.0	2.5	2003	$2,795	$1.40	5d	1	0.74mi

Listing history 6 events

1. 2026-06-07
   status $329,900 Pending 5 DOM
2. 2026-06-04
   days on market $329,900 Active 5 DOM
3. 2026-06-02
   days on market $329,900 Active 3 DOM
4. 2026-06-01
   days on market $329,900 Active 2 DOM
5. 2026-05-31
   remarks 699-char remark

   Show marketing remark (1127 chars)

   Welcome home to this beautifully remodeled tri-level in the highly sought-after Fenton School District! Completely move-in ready, this spacious home offers 4 bedrooms, 1.5 bathrooms, an attached 2-car garage, and sits on a large lot with a fully fenced backyard perfect for pets, play, and entertaining. Major improvements completed within the last five years provide peace of mind, including new windows, siding, roof, central air conditioning, water treatment system, reverse osmosis drinking water system, carpet, appliances, and so much more. Inside, you'll appreciate the fresh paint throughout, a remodeled full bathroom, and the addition of a fourth bedroom, providing flexibility for growing families, guests, or a home office. The recently added door wall offers easy access to the backyard where you'll find a beautiful brick paver patio, creating the perfect outdoor space for relaxing or hosting gatherings. With countless updates already completed, all that's left to do is move in and enjoy. Too many improvements to list! Schedule your private showing today and see everything this exceptional home has to offer.

6. 2026-05-31
   listed $329,900 Active 1 DOM

   Show marketing remark (1127 chars)

   Welcome home to this beautifully remodeled tri-level in the highly sought-after Fenton School District! Completely move-in ready, this spacious home offers 4 bedrooms, 1.5 bathrooms, an attached 2-car garage, and sits on a large lot with a fully fenced backyard perfect for pets, play, and entertaining. Major improvements completed within the last five years provide peace of mind, including new windows, siding, roof, central air conditioning, water treatment system, reverse osmosis drinking water system, carpet, appliances, and so much more. Inside, you'll appreciate the fresh paint throughout, a remodeled full bathroom, and the addition of a fourth bedroom, providing flexibility for growing families, guests, or a home office. The recently added door wall offers easy access to the backyard where you'll find a beautiful brick paver patio, creating the perfect outdoor space for relaxing or hosting gatherings. With countless updates already completed, all that's left to do is move in and enjoy. Too many improvements to list! Schedule your private showing today and see everything this exceptional home has to offer.

ⓘ 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: $4,450 · $371/mo
• Projected year-2 tax: $4,765 · $397/mo
• Expected delta: +$315/yr (+$26/mo · 7.1%)

ⓘ 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 ≥95°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: $33,540
• − Mortgage interest: −$18,480
• − Property taxes: −$4,450
• − Insurance: −$1,650
• − Repairs & maintenance: −$2,683
• − Management: −$2,683
• − Depreciation: −$9,597
• Taxable loss: −$6,003
• Est. tax savings @ 24.0%: +$1,441
• After-tax cash flow: $1,077/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: Fenton Area Public Schools
• NCES district ID: 2614250
• Math proficiency: 38% ▼ -7.00%
• Reading proficiency: 57% ▼ -2.00%
• Median HH income: $60,377
• Composite: 41.63/100
• National rank: #3426
• State rank: #112 of 540 in MI

Livability — Fenton

• Score: 77/100
• State rank: #130
• US rank: #3197

Category grades

Amenities F Commute F Cost of living A+ Crime B- Employment C+ Housing A+ Health & safety A- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 39,309
• Population (ZIP): 15,993

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 White (92%)
• Race & ethnicity: White 92% Two or more races 3% Black 2% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 4%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Arabic 2% 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: ▼ -218.03%
• Current HPI: 260.4332
• 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

+200.2% since first listed

35 events — show timeline

• 2026-05-31 Listed $329,900 MiRealSource-MiMLS
• 2026-05-31 Listed $329,900 REALCOMP
• 2026-05-30 Coming Soon $329,900 MiRealSource-MiMLS
• 2018-03-21 Sold (Public Records) $168,000 Public Records
• 2018-03-14 Sold (MLS) $168,000 MiRealSource-MiMLS
• 2018-03-14 Sold (MLS) $168,000 REALCOMP
• 2018-02-10 Pending — MiRealSource-MiMLS
• 2018-02-10 Pending — REALCOMP
• 2018-02-07 Relisted — MiRealSource-MiMLS
• 2018-02-07 Relisted — REALCOMP
• 2018-01-03 Pending — MiRealSource-MiMLS
• 2018-01-03 Pending — REALCOMP
• 2018-01-03 Relisted — MiRealSource-MiMLS
• 2018-01-03 Relisted — REALCOMP
• 2017-12-07 Pending — MiRealSource-MiMLS
• 2017-12-07 Price Changed $164,000 MiRealSource-MiMLS
• 2017-12-07 Pending — REALCOMP
• 2017-12-06 Price Changed $164,000 REALCOMP
• 2017-11-06 Price Changed $169,900 MiRealSource-MiMLS
• 2017-11-06 Price Changed $169,900 REALCOMP
• 2017-10-20 Listed $179,900 MiRealSource-MiMLS
• 2017-10-20 Listed $179,900 REALCOMP
• 2015-02-20 Sold (MLS) $102,500 MiRealSource-MiMLS
• 2015-02-20 Sold (MLS) $102,500 REALCOMP
• 2015-01-06 Listing Removed — MiRealSource-MiMLS
• 2014-07-21 Listed $104,500 MiRealSource-MiMLS
• 2014-07-21 Listed $104,500 REALCOMP
• 2003-05-05 Sold (Public Records) $155,000 Public Records
• 2003-04-15 Sold (MLS) $155,000 REALCOMP
• 2002-12-16 Listed $155,900 REALCOMP
• 1995-11-30 Sold (MLS) $105,000 REALCOMP
• 1995-11-30 Sold (MLS) $105,000 MiRealSource-MiMLS
• 1995-11-07 Listing Removed — MiRealSource-MiMLS
• 1995-09-27 Listed $109,900 MiRealSource-MiMLS
• 1995-09-25 Listed $109,900 REALCOMP

Property tax history

+6.5%/yr

Latest (2025): $4,450 · +25.5% YoY. Source: county tax records.