4110 Leerda St · Flint, MI 48504

$39,900

3 bd · 1.0 ba · 1,051 sqft · SingleFamily public records · 79 Days on market

Built 1959 5,227 sqft lot Est $38k · 5% over

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Why this score? — see what drove the C+ 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 +5.0/15.0
• 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

Priced to Sell. Make an Offer!

Key facts

• 5,227 sq ft lot
• Garage
• Built 1959

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water service; Public sewer available
• Home design: Single-family residence; One-level home
• Construction: Aluminum siding and brick construction
• Exterior features: Aluminum siding and brick exterior; Public water; Public sewer

Interior

• Bedrooms: Total of 3 rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Concrete 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 $419 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($920 rent vs $40k).
• Recommended offer: $38k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.9% 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; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $276 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 79 days — a 6% lower offer ($38k) 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.
• Current owner paid $13k; list at $40k implies a 206% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $37,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.31% ✓
• Cap rate: 18.88%
• Cash-on-cash: 44.95%
• DSCR: 3.00
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $37,836
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3819 Brownell Blvd	0.20mi	3/1.0	1,137 (+8%)	5mo	$69,900	$61	73
4702 Warrington Dr	0.41mi	3/1.0	1,010 (-4%)	3mo	$82,900	$82	72
1705 W Pasadena Ave	0.39mi	3/1.5	1,008 (-4%)	7mo	$9,000	$9	68
1818 Parkfront Dr	0.44mi	3/1.0	972 (-8%)	4mo	$63,000	$65	64
2118 Santa Barbara Dr	0.34mi	3/1.0	950 (-10%)	5mo	$21,000	$22	64
3419 Leerda St	0.33mi	3/1.0	938 (-11%)	4mo	$25,500	$27	63
4310 Berger Dr	0.34mi	3/1.0	905 (-14%)	2mo	$33,000	$36	60
3330 Maywood Dr	0.55mi	3/1.0	1,120 (+7%)	5mo	$14,000	$13	59
3509 Donnelly St	0.52mi	3/1.0	983 (-6%)	8mo	$7,300	$7	58
2210 Canniff St	0.39mi	3/1.5	905 (-14%)	1mo	$83,000	$92	56
4006 Donnelly St	0.46mi	2/1.0 (-1)	912 (-13%)	6mo	$13,000	$14	46
3418 Keyes St	0.60mi	2/1.0 (-1)	900 (-14%)	7mo	$69,000	$77	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: 42.1%
• Equity multiple: 2.81×
• Total profit: $20,224
• Equity at exit: $5,949

10-year hold

• IRR: 48.2%
• Equity multiple: 5.66×
• Total profit: $52,073
• Equity at exit: $3,450

Cash invested: $11,172 (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: 3.6×

Monthly cashflow live

• Estimated rent: $920 high
• Mortgage (P&I): −$209
• Tax from tax record: −$82 /mo · $989/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $419

Break-even live

Break-even rent $390

Max offer price $39,900

Occupancy floor 50%

Sensitivity live

Price	-10% $441	-5% $430	+0% $419	+5% $407	+10% $396
Rent	-10% $346	-5% $382	+0% $419	+5% $455	+10% $491
Rate	-1.0pp $439	-0.5pp $429	base $419	+0.5pp $408	+1.0pp $398

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3221 Burgess St Flint, MI	2.0	1.0	755	$875	$1.16	21d	1	0.48mi
711 W Dewey St Flint, MI	3.0	1.0	1011	$925	$0.91	21d	1	0.72mi
5413 DuPont St Flint, MI	4.0	1.5	1038	$900	$0.87	21d	1	0.94mi
411 W Marengo Ave Flint, MI	3.0	1.0	1350	$1,072	$0.79	14d	1	0.95mi
5905 Griggs Dr Flint, MI	3.0	1.0	940	$1,000	$1.06	14d	1	1.00mi
5813 Edwards Ave Flint, MI	3.0	1.0	1500	$899	$0.60	14d	1	1.09mi
2462 Gena Ann Ln Unit GEN2462 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.23mi
3376 Preston Pl Unit PRE3376 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.24mi
100 Rosewood Mnr Flint, MI	2.0	1.5	1159	$947	$0.82	14d	1	1.26mi
2410 Gena Ann Ln Unit GEN2410 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.29mi
2410 Gena Ann Ln Flint, MI	3.0	2.0	960	$895	$0.93	45d	1	1.29mi
2419 Gena Ann Ln Unit GEN2419 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.30mi
3616 Concord St Unit CON3616 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.49mi
2332 Fredonia Ave Unit FRE2332 Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	1.49mi

Listing history 21 events

1. 2026-06-18
   days on market $39,900 Active 79 DOM
2. 2026-06-17
   days on market $39,900 Active 78 DOM
3. 2026-06-16
   days on market $39,900 Active 77 DOM
4. 2026-06-15
   days on market $39,900 Active 76 DOM
5. 2026-06-14
   days on market $39,900 Active 74 DOM
6. 2026-06-13
   days on market $39,900 Active 73 DOM
7. 2026-06-10
   days on market $39,900 Active 71 DOM
8. 2026-06-09
   days on market $39,900 Active 70 DOM
9. 2026-06-08
   days on market $39,900 Active 69 DOM
10. 2026-06-07
    days on market $39,900 Active 68 DOM
11. 2026-06-05
    days on market $39,900 Active 65 DOM
12. 2026-06-03
    days on market $39,900 Active 64 DOM
13. 2026-06-02
    days on market $39,900 Active 63 DOM
14. 2026-06-01
    days on market $39,900 Active 62 DOM
15. 2026-05-31
    days on market $39,900 Active 61 DOM
16. 2026-05-30
    days on market $39,900 Active 60 DOM
17. 2026-04-09
    price $39,900 30-char remark

    Show marketing remark (30 chars)

    Priced to Sell. Make an Offer!

18. 2026-04-08
    price $39,900
19. 2026-03-31
    listed $42,500 Active 30-char remark

    Show marketing remark (30 chars)

    Priced to Sell. Make an Offer!

20. 2026-03-31
    listed $42,500 Active

    Show marketing remark (30 chars)

    Priced to Sell. Make an Offer!

21. 2003-02-11
    soldstatus $13,038

ⓘ 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: $989 · $82/mo
• Projected year-2 tax: $989 · $82/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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,040
• − Mortgage interest: −$2,235
• − Property taxes: −$989
• − Insurance: −$200
• − Repairs & maintenance: −$883
• − Management: −$883
• − Depreciation: −$1,161
• Taxable income: $4,689
• Est. tax owed @ 24.0%: −$1,125
• After-tax cash flow: $3,897/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

+206.0% since first listed

5 events — show timeline

• 2026-04-09 Price Changed $39,900 MiRealSource-MiMLS
• 2026-04-08 Price Changed $39,900 REALCOMP
• 2026-03-31 Listed $42,500 REALCOMP
• 2026-03-31 Listed $42,500 MiRealSource-MiMLS
• 2003-02-11 Sold (Public Records) $13,038 Public Records

Property tax history

-0.3%/yr

Latest (2025): $989 · +1.6% YoY. Source: county tax records.