1939 Laurel Oak Dr Laurel Oak Dr #1939 · Flint, MI 48507

$105,777

3 bd · 1.5 ba · 1,760 sqft · SingleFamily public records · 84 Days on market

Built 1966 Est $95k · 11% over ↓ 4% since listing

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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 +25.4/30.0
• DSCR +8.4/10.0
• 1% rule +6.6/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Rent growth +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

Key facts

• Garage
• Built 1966
• Listed 83 days

Property features AI

Finance

• Other: Pets allowed: cats and dogs
• Financial info: Tax annual amount listed (financial specifics excluded)
• HOA & community: Condominium community (HOA details not provided)

Exterior

• Parking: Attached garage (1 car)
• Security: No security features listed
• Utilities: Water available; Public sewer
• Home design: Residential condominium; Two levels; Ground-level entry
• Construction: Vinyl siding; Block foundation; Asphalt roof; Built area above grade: 1,800 (units provided); Finished area below grade: 400 (units provided)
• Exterior features: Cul-de-sac lot

Interior

• Kitchen: No kitchen details provided
• Bedrooms: No bedroom details provided
• Flooring: No flooring information provided
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Full basement, partially finished; Three total rooms
• Laundry & utility: No laundry or utility appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $106k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $106k).
• Recommended offer: $99k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 11.5% in Flint — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: Rents soft (-1.0%/yr); 206 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• This rent runs 32% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $732 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 ($99k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Recommended offer $99,430 (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 1966 — 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: 1.16% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.92%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $95,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1818 Rockcreek Ln	0.23mi	4/2.0 (+1)	1,710 (-3%)	6mo	$130,000	$76	72
3296 Brookgate Dr	0.40mi	3/1.5	1,702 (-3%)	8mo	$185,000	$109	70
1902 Windsor Ln	0.27mi	3/2.0	1,586 (-10%)	0mo	$135,000	$85	69
1409 Lynton Ave	0.27mi	3/2.0	1,615 (-8%)	8mo	$169,900	$105	65
1701 Crestbrook Ln	0.59mi	3/2.0	1,768 (+0%)	8mo	$41,000	$23	63
1814 Penbrook Ln	0.36mi	3/1.5	1,957 (+11%)	3mo	$42,000	$21	62
1741 Carmanbrook Pkwy	0.59mi	4/2.0 (+1)	1,696 (-4%)	4mo	$6,000	$4	56
1621 Greenbrook Ln	0.58mi	3/1.5	1,631 (-7%)	8mo	$87,549	$54	54
1823 Greenbrook Ln	0.51mi	3/2.0	1,983 (+13%)	1mo	$105,000	$53	52
1314 Pinehurst Ave	0.73mi	3/2.0	1,660 (-6%)	4mo	$34,000	$20	51
1232 Bel Air Dr	0.58mi	4/2.5 (+1)	1,938 (+10%)	1mo	$195,000	$101	47
1613 Waldman Ave	0.67mi	3/1.0	1,558 (-12%)	11mo	$77,000	$49	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.83×
• Total profit: $-5,119
• Equity at exit: $15,772

10-year hold

• IRR: 1.0%
• Equity multiple: 1.06×
• Total profit: $1,811
• Equity at exit: $9,146

Cash invested: $29,618 (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 48507

• Rents YoY: -1.0%
• Active inventory: 206
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,225 medium
• Mortgage (P&I): −$555
• Tax from tax record: −$124 /mo · $1,486/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $245

Break-even live

Break-even rent $915

Max offer price $105,777

Occupancy floor 75%

Sensitivity live

Price	-10% $305	-5% $275	+0% $245	+5% $215	+10% $185
Rent	-10% $148	-5% $197	+0% $245	+5% $293	+10% $342
Rate	-1.0pp $298	-0.5pp $272	base $245	+0.5pp $217	+1.0pp $190

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: $26,444
• Closing costs: $3,173
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1935 Carmanbrook Pkwy Flint, MI	4.0	1.5	1800	$1,200	$0.67	14d	1	0.62mi
4441 Jena Ln Flint, MI	3.0–4.0	2.0	1456	$1,249	$0.86	14d	1	1.41mi

Listing history 10 events

1. 2026-05-21
   price $105,777 212-char remark

   Show marketing remark (212 chars)

   This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

2. 2026-05-21
   price $105,777

   Show marketing remark (212 chars)

   This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

3. 2026-05-06
   status Active 212-char remark

   Show marketing remark (212 chars)

   This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

4. 2026-05-06
   status Active

   Show marketing remark (212 chars)

   This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

5. 2026-04-22
   historical Keep Showing-Contgcy Appl 212-char remark

   Show marketing remark (212 chars)

   This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

6. 2026-04-22
   historical Active Under Contract

   Show marketing remark (212 chars)

   This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

7. 2026-04-22
   status Pending 212-char remark

   Show marketing remark (212 chars)

   This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

8. 2026-04-22
   status Pending

   Show marketing remark (212 chars)

   This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

9. 2026-03-03
   listed $109,900 Active 212-char remark

   Show marketing remark (212 chars)

   This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

10. 2026-03-03
    listed $109,900 Active

    Show marketing remark (212 chars)

    This Beautifully updated 3 bedroom, 1.5-bath townhouse featuring neutral decor and thoughtful upgrades throughout. Ideal for first-time buyers or savvy investors, this home offers comfort, convenience, and charm.

ⓘ 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: $1,486 · $124/mo
• Projected year-2 tax: $1,557 · $130/mo
• Expected delta: +$72/yr (+$6/mo · 4.8%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,696
• − Mortgage interest: −$5,925
• − Property taxes: −$1,486
• − Insurance: −$529
• − Repairs & maintenance: −$1,176
• − Management: −$1,176
• − Depreciation: −$3,077
• Taxable income: $1,328
• Est. tax owed @ 24.0%: −$319
• After-tax cash flow: $2,620/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
• County: Genesee County · 221,329 people
• City population: 93,814
• Metro: Flint, MI
• Population (ZIP): 28,723
• Household income: $46,554
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1534.0

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 0.57)
• Race & ethnicity: White 59% Black 28% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -154.90%
• Current HPI: 132.3632
• Rent YoY: ▼ -1.04%
• Metro: Flint, MI
• 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

-3.8% since first listed

10 events — show timeline

• 2026-05-21 Price Changed $105,777 MiRealSource-MiMLS
• 2026-05-21 Price Changed $105,777 REALCOMP
• 2026-05-06 Relisted — MiRealSource-MiMLS
• 2026-05-06 Relisted — REALCOMP
• 2026-04-22 Contingent — MiRealSource-MiMLS
• 2026-04-22 Contingent — REALCOMP
• 2026-04-22 Pending — MiRealSource-MiMLS
• 2026-04-22 Pending — REALCOMP
• 2026-03-03 Listed $109,900 REALCOMP
• 2026-03-03 Listed $109,900 MiRealSource-MiMLS

Property tax history

+3.3%/yr

Latest (2025): $1,486 · +1.8% YoY. Source: county tax records.