218 S Cherry St · Flushing, MI 48433

$90,000

2 bd · 1.0 ba · 1,320 sqft · SingleFamily · 84 Days on market

Built 1850 7,405 sqft lot $68/sqft · 50% below area Est $178k · 50% under ↓ 10% 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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +7.7/10.0
• Livability +3.8/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Built in the 1850s, this is one of the oldest remaining homes in downtown Flushing, sitting front-row on Riverview Park along the Flint River. Summer concerts at the bandshell. Movies in the park. SummerFest. Cruise Nights. playground, basketball courts, walking paths, and a kayak livery on the Flint River National Water Trail. One block north is Main Street, part of a National Register Historic District with buildings from the 1850s. Local shops, restaurants, and the kind of walk-able downtown that drives demand. The main floor offers a full bath, bedroom, and two living areas (one easily could convert to a third bedroom for added value). Upstairs is a second bedroom and a loft area perfect for adding a home office. This home needs significant renovations and only cash offers will be considered. But for the right buyer, the bones are here and the location is hard to beat.

Key facts

• Walk-able downtown
• Riverview park
• Flint river

Tags

• RIVERVIEW PARK
• FLINT RIVER
• NATIONAL WATER TRAIL
• WALK-ABLE DOWNTOWN
• HOME OFFICE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.5% in Flushing — 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 76/100 on livability (#140 in MI, #3,431 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Flushing Community Schools (suburban): math 25% / reading 41% proficiency, ranked #295 of 540 in MI (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 156 active listings in the ZIP; 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 $622 of loan paydown is wiped out by about $3k 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

• It's been on market 84 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1850 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 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 1850 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.27% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.04%
• DSCR: 1.58
• GRM: 6.5

CMA / ARV

• ARV (median comp): $178,232
• List price: $90,000
• Delta: -49.50%
• 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
114 E Henry St	0.31mi	3/1.5 (+1)	1,354 (+3%)	15mo	$125,000	$92	62
212 W Henry St	0.39mi	2/1.0	1,438 (+9%)	7mo	$151,000	$105	61
517 Autumn Dr	0.45mi	3/1.5 (+1)	1,340 (+2%)	10mo	$220,000	$164	61
527 Spring Ln	0.38mi	3/1.5 (+1)	1,444 (+9%)	0mo	$230,000	$159	59
309 Arthur St	0.40mi	3/1.0 (+1)	1,200 (-9%)	5mo	$182,000	$152	57
312 S Seymour Rd	0.46mi	2/1.5	1,180 (-11%)	10mo	$185,000	$157	51
210 N Hazelton St	0.37mi	3/1.5 (+1)	1,152 (-13%)	7mo	$177,000	$154	49
538 Autumn Dr	0.52mi	3/1.5 (+1)	1,440 (+9%)	6mo	$235,000	$163	49
200 Boman St	0.63mi	3/1.0 (+1)	1,445 (+10%)	3mo	$165,000	$114	47
108 S Hazelton St	0.28mi	3/1.5 (+1)	1,134 (-14%)	15mo	$169,900	$150	44
308 N Seymour Rd	0.67mi	3/1.5 (+1)	1,460 (+11%)	6mo	$170,000	$116	39
601 S Mckinley Rd	0.49mi	3/2.0 (+1)	1,174 (-11%)	18mo	$184,900	$157	34

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,311
• Equity at exit: $13,419

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $16,130
• Equity at exit: $7,782

Cash invested: $25,200 (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 48433

• Active inventory: 156
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,147 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$123 /mo · $1,478/yr
• Insurance: −$38
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $207

Break-even live

Break-even rent $885

Max offer price $90,000

Occupancy floor 77%

Sensitivity live

Price	-10% $258	-5% $233	+0% $207	+5% $182	+10% $156
Rent	-10% $117	-5% $162	+0% $207	+5% $253	+10% $298
Rate	-1.0pp $253	-0.5pp $230	base $207	+0.5pp $184	+1.0pp $160

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $90,000 Active 84 DOM
2. 2026-06-17
   days on market $90,000 Active 83 DOM
3. 2026-06-16
   days on market $90,000 Active 82 DOM
4. 2026-06-15
   days on market $90,000 Active 81 DOM
5. 2026-06-14
   days on market $90,000 Active 79 DOM
6. 2026-06-13
   days on market $90,000 Active 78 DOM
7. 2026-06-10
   days on market $90,000 Active 76 DOM
8. 2026-06-09
   days on market $90,000 Active 75 DOM
9. 2026-06-08
   days on market $90,000 Active 74 DOM
10. 2026-06-07
    days on market $90,000 Active 73 DOM
11. 2026-06-05
    days on market $90,000 Active 70 DOM
12. 2026-06-03
    days on market $90,000 Active 69 DOM
13. 2026-06-02
    days on market $90,000 Active 68 DOM
14. 2026-06-01
    days on market $90,000 Active 67 DOM
15. 2026-05-31
    days on market $90,000 Active 66 DOM
16. 2026-05-30
    days on market $90,000 Active 65 DOM
17. 2026-04-24
    price $90,000 885-char remark

    Show marketing remark (885 chars)

    Built in the 1850s, this is one of the oldest remaining homes in downtown Flushing, sitting front-row on Riverview Park along the Flint River. Summer concerts at the bandshell. Movies in the park. SummerFest. Cruise Nights. playground, basketball courts, walking paths, and a kayak livery on the Flint River National Water Trail. One block north is Main Street, part of a National Register Historic District with buildings from the 1850s. Local shops, restaurants, and the kind of walk-able downtown that drives demand. The main floor offers a full bath, bedroom, and two living areas (one easily could convert to a third bedroom for added value). Upstairs is a second bedroom and a loft area perfect for adding a home office. This home needs significant renovations and only cash offers will be considered. But for the right buyer, the bones are here and the location is hard to beat.

18. 2026-04-23
    price $90,000 885-char remark

    Show marketing remark (885 chars)

    Built in the 1850s, this is one of the oldest remaining homes in downtown Flushing, sitting front-row on Riverview Park along the Flint River. Summer concerts at the bandshell. Movies in the park. SummerFest. Cruise Nights. playground, basketball courts, walking paths, and a kayak livery on the Flint River National Water Trail. One block north is Main Street, part of a National Register Historic District with buildings from the 1850s. Local shops, restaurants, and the kind of walk-able downtown that drives demand. The main floor offers a full bath, bedroom, and two living areas (one easily could convert to a third bedroom for added value). Upstairs is a second bedroom and a loft area perfect for adding a home office. This home needs significant renovations and only cash offers will be considered. But for the right buyer, the bones are here and the location is hard to beat.

19. 2026-04-23
    price $90,000

    Show marketing remark (885 chars)

    Built in the 1850s, this is one of the oldest remaining homes in downtown Flushing, sitting front-row on Riverview Park along the Flint River. Summer concerts at the bandshell. Movies in the park. SummerFest. Cruise Nights. playground, basketball courts, walking paths, and a kayak livery on the Flint River National Water Trail. One block north is Main Street, part of a National Register Historic District with buildings from the 1850s. Local shops, restaurants, and the kind of walk-able downtown that drives demand. The main floor offers a full bath, bedroom, and two living areas (one easily could convert to a third bedroom for added value). Upstairs is a second bedroom and a loft area perfect for adding a home office. This home needs significant renovations and only cash offers will be considered. But for the right buyer, the bones are here and the location is hard to beat.

20. 2026-03-26
    listed $100,000 Active 885-char remark

    Show marketing remark (885 chars)

    Built in the 1850s, this is one of the oldest remaining homes in downtown Flushing, sitting front-row on Riverview Park along the Flint River. Summer concerts at the bandshell. Movies in the park. SummerFest. Cruise Nights. playground, basketball courts, walking paths, and a kayak livery on the Flint River National Water Trail. One block north is Main Street, part of a National Register Historic District with buildings from the 1850s. Local shops, restaurants, and the kind of walk-able downtown that drives demand. The main floor offers a full bath, bedroom, and two living areas (one easily could convert to a third bedroom for added value). Upstairs is a second bedroom and a loft area perfect for adding a home office. This home needs significant renovations and only cash offers will be considered. But for the right buyer, the bones are here and the location is hard to beat.

21. 2026-03-26
    listed $100,000 Active 885-char remark

    Show marketing remark (885 chars)

    Built in the 1850s, this is one of the oldest remaining homes in downtown Flushing, sitting front-row on Riverview Park along the Flint River. Summer concerts at the bandshell. Movies in the park. SummerFest. Cruise Nights. playground, basketball courts, walking paths, and a kayak livery on the Flint River National Water Trail. One block north is Main Street, part of a National Register Historic District with buildings from the 1850s. Local shops, restaurants, and the kind of walk-able downtown that drives demand. The main floor offers a full bath, bedroom, and two living areas (one easily could convert to a third bedroom for added value). Upstairs is a second bedroom and a loft area perfect for adding a home office. This home needs significant renovations and only cash offers will be considered. But for the right buyer, the bones are here and the location is hard to beat.

22. 2026-03-26
    listed $100,000 Active

    Show marketing remark (885 chars)

    Built in the 1850s, this is one of the oldest remaining homes in downtown Flushing, sitting front-row on Riverview Park along the Flint River. Summer concerts at the bandshell. Movies in the park. SummerFest. Cruise Nights. playground, basketball courts, walking paths, and a kayak livery on the Flint River National Water Trail. One block north is Main Street, part of a National Register Historic District with buildings from the 1850s. Local shops, restaurants, and the kind of walk-able downtown that drives demand. The main floor offers a full bath, bedroom, and two living areas (one easily could convert to a third bedroom for added value). Upstairs is a second bedroom and a loft area perfect for adding a home office. This home needs significant renovations and only cash offers will be considered. But for the right buyer, the bones are here and the location is hard to beat.

ⓘ 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: $1,478 · $123/mo
• Projected year-2 tax: $1,478 · $123/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 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $13,769
• − Mortgage interest: −$5,041
• − Property taxes: −$1,478
• − Insurance: −$1,248
• − Repairs & maintenance: −$1,102
• − Management: −$1,102
• − Depreciation: −$2,618
• Taxable income: $1,181
• Est. tax owed @ 24.0%: −$283
• After-tax cash flow: $2,205/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: Flushing Community Schools
• NCES district ID: 2614550
• Math proficiency: 25% ▼ -17.00%
• Reading proficiency: 41% ▼ -11.00%
• Median HH income: $58,883
• Composite: 29.48/100
• National rank: #6506
• State rank: #295 of 540 in MI

Livability — Flushing

• Score: 76/100
• State rank: #140
• US rank: #3431

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Flushing, MI
• Population (ZIP): 25,756

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 (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 95% English-only · Arabic 2% Spanish 1% Other Indo-European 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: ▼ -214.10%
• Current HPI: 175.93
• 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

-10.0% since first listed

6 events — show timeline

• 2026-04-24 Price Changed $90,000 MiRealSource-MiMLS
• 2026-04-23 Price Changed $90,000 REALCOMP
• 2026-04-23 Price Changed $90,000 SW Michigan MLS
• 2026-03-26 Listed $100,000 SW Michigan MLS
• 2026-03-26 Listed $100,000 REALCOMP
• 2026-03-26 Listed $100,000 MiRealSource-MiMLS

Property tax history

+3.3%/yr

Latest (2025): $1,478 · +3.6% YoY. Source: county tax records.