3202 Herrick St · Flint, MI 48503

$36,500

2 bd · 1.0 ba · 736 sqft · SingleFamily public records · 47 Days on market

Built 1923 6,098 sqft lot Est $38k · at est.

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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 +9.6/15.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable Ranch home that sits on a corner lot! All new flooring (2025), New paint (2025), New roof (2023), new plumbing (2025). .. .. spacious fenced-in yard, large 6x10 shed, and basement is dry. Seller is moving to Florida and has done all the right things to prepare for departure! Close to I-69, I-475, and I-75.

Key facts

• New plumbing
• New flooring
• New paint

Tags

• CORNER LOT
• NEW FLOORING
• NEW PAINT
• NEW ROOF
• NEW PLUMBING
• SPACIOUS FENCED-IN YARD

Property features AI

Exterior

• Parking: No garage; Carport
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Aluminum siding
• Exterior features: Paved road access; Lot approximately 50 x 120 (0.14 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Total of 5 rooms; Full, unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $429 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($932 rent vs $36k).
• Recommended offer: $35k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.4% vs local median 11.6% 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: 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.
• Zoned schools: Holmes Stem Middle School Academy (math 10% / reading 30%, grade F, #420 of 493 statewide, top 86%, 324 students, 90% FRL).
• Market conditions: Rents rising fast (+12.3%/yr); 137 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 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 $252 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 + 8.0% rent growth), your $10k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 26y ago; this cycle's ask has dropped $8k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $36k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,405 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.55% ✓
• Cap rate: 20.41%
• Cash-on-cash: 50.41%
• DSCR: 3.24
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $38,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3214 Clairmont St	0.05mi	2/1.0	720 (-2%)	4mo	$30,500	$42	90
3305 Larchmont St	0.14mi	2/1.0	736 (0%)	5mo	$45,000	$61	89
3310 Larchmont St	0.11mi	2/1.0	688 (-6%)	2mo	$18,000	$26	82
3510 Hogarth Ave	0.23mi	2/1.0	796 (+8%)	3mo	$32,500	$41	74
2805 Reynolds St	0.40mi	2/1.0	704 (-4%)	3mo	$35,000	$50	72
2710 Reynolds St	0.45mi	2/1.0	751 (+2%)	5mo	$56,500	$75	71
1326 Hughes Ave	0.16mi	2/1.0	814 (+11%)	6mo	$70,900	$87	70
2641 Brown St	0.43mi	2/1.0	783 (+6%)	2mo	$36,500	$47	68
2717 Gibson St	0.45mi	2/1.0	687 (-7%)	1mo	$50,000	$73	67
959 Tacken St	0.64mi	2/1.0	748 (+2%)	4mo	$24,900	$33	64
1115 Barney Ave	0.26mi	3/1.0 (+1)	833 (+13%)	5mo	$43,500	$52	57
916 Mann St	0.55mi	2/1.0	647 (-12%)	3mo	$35,000	$54	51

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 54.2%
• Equity multiple: 3.58×
• Total profit: $26,402
• Equity at exit: $5,442

10-year hold

• IRR: 61.4%
• Equity multiple: 8.91×
• Total profit: $80,816
• Equity at exit: $3,156

Cash invested: $10,220 (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 48503

• Home prices YoY: -27.7%
• Rents YoY: 12.3%
• Active inventory: 137
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $932 medium
• Mortgage (P&I): −$191
• Tax from tax record: −$101 /mo · $1,207/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $429

Break-even live

Break-even rent $389

Max offer price $36,500

Occupancy floor 49%

Sensitivity live

Price	-10% $450	-5% $440	+0% $429	+5% $419	+10% $409
Rent	-10% $356	-5% $392	+0% $429	+5% $466	+10% $503
Rate	-1.0pp $448	-0.5pp $439	base $429	+0.5pp $420	+1.0pp $410

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: $9,125
• Closing costs: $1,095
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
352 Bradley Ave Unit 343 Sheffield Ave-Apt C Flint, MI	1.0	1.0	564	$900	$1.60	22d	1	0.94mi
343 Sheffield Apt. C Ave heuristic Flint, MI	1.0	1.0	564	$900	$1.60	26d	1	0.96mi

Listing history 42 events

1. 2026-06-21
   pricedays on market $36,500 Active 47 DOM
2. 2026-06-18
   days on market $40,000 Active 44 DOM
3. 2026-06-17
   days on market $40,000 Active 43 DOM
4. 2026-06-16
   pricedays on market $40,000 Active 42 DOM
5. 2026-06-15
   days on market $45,000 Active 41 DOM
6. 2026-06-14
   days on market $45,000 Active 39 DOM
7. 2026-06-13
   days on market $45,000 Active 38 DOM
8. 2026-06-10
   days on market $45,000 Active 36 DOM
9. 2026-06-09
   days on market $45,000 Active 35 DOM
10. 2026-06-08
    days on market $45,000 Active 34 DOM
11. 2026-06-07
    days on market $45,000 Active 33 DOM
12. 2026-06-05
    days on market $45,000 Active 30 DOM
13. 2026-06-03
    days on market $45,000 Active 29 DOM
14. 2026-06-02
    days on market $45,000 Active 28 DOM
15. 2026-06-01
    days on market $45,000 Active 27 DOM
16. 2026-05-31
    days on market $45,000 Active 26 DOM
17. 2026-05-30
    days on market $45,000 Active 25 DOM
18. 2026-05-05
    listed $45,000 Active 316-char remark

    Show marketing remark (316 chars)

    Adorable Ranch home that sits on a corner lot! All new flooring (2025), New paint (2025), New roof (2023), new plumbing (2025). .. .. spacious fenced-in yard, large 6x10 shed, and basement is dry. Seller is moving to Florida and has done all the right things to prepare for departure! Close to I-69, I-475, and I-75.

19. 2026-05-05
    listed $45,000 Active

    Show marketing remark (316 chars)

    Adorable Ranch home that sits on a corner lot! All new flooring (2025), New paint (2025), New roof (2023), new plumbing (2025). .. .. spacious fenced-in yard, large 6x10 shed, and basement is dry. Seller is moving to Florida and has done all the right things to prepare for departure! Close to I-69, I-475, and I-75.

20. 2025-04-25
    soldstatus $21,500 Closed 290-char remark

    Show marketing remark (290 chars)

    HUD Home- Great opportunity on this 2 bedroom home on a corner lot in the City of Flint. The home has a good curb appeal with a covered front porch and fenced back yard with shed. The interior has a good layout. Kitchen has plenty of cabinet space. Formal dining area and large living room.

21. 2025-04-25
    soldstatus $21,500 Closed

    Show marketing remark (290 chars)

    HUD Home- Great opportunity on this 2 bedroom home on a corner lot in the City of Flint. The home has a good curb appeal with a covered front porch and fenced back yard with shed. The interior has a good layout. Kitchen has plenty of cabinet space. Formal dining area and large living room.

22. 2025-04-03
    status Pending

    Show marketing remark (290 chars)

    HUD Home- Great opportunity on this 2 bedroom home on a corner lot in the City of Flint. The home has a good curb appeal with a covered front porch and fenced back yard with shed. The interior has a good layout. Kitchen has plenty of cabinet space. Formal dining area and large living room.

23. 2025-04-03
    status Pending 290-char remark

    Show marketing remark (290 chars)

    HUD Home- Great opportunity on this 2 bedroom home on a corner lot in the City of Flint. The home has a good curb appeal with a covered front porch and fenced back yard with shed. The interior has a good layout. Kitchen has plenty of cabinet space. Formal dining area and large living room.

24. 2025-03-17
    price $25,200

    Show marketing remark (290 chars)

    HUD Home- Great opportunity on this 2 bedroom home on a corner lot in the City of Flint. The home has a good curb appeal with a covered front porch and fenced back yard with shed. The interior has a good layout. Kitchen has plenty of cabinet space. Formal dining area and large living room.

25. 2025-03-17
    price $25,200 290-char remark

    Show marketing remark (290 chars)

    HUD Home- Great opportunity on this 2 bedroom home on a corner lot in the City of Flint. The home has a good curb appeal with a covered front porch and fenced back yard with shed. The interior has a good layout. Kitchen has plenty of cabinet space. Formal dining area and large living room.

26. 2025-01-31
    listed $28,000 Active
27. 2025-01-22
    listed $28,000 Active 290-char remark

    Show marketing remark (290 chars)

    HUD Home- Great opportunity on this 2 bedroom home on a corner lot in the City of Flint. The home has a good curb appeal with a covered front porch and fenced back yard with shed. The interior has a good layout. Kitchen has plenty of cabinet space. Formal dining area and large living room.

28. 2010-12-06
    historical
29. 2008-08-11
    soldstatus $39,500
30. 2008-03-26
    historical
31. 2008-03-26
    historical
32. 2007-07-24
    listed $39,904
33. 2007-07-24
    listed $39,904
34. 2007-01-12
    listed $47,900
35. 2007-01-12
    historical
36. 2007-01-12
    listed $47,900
37. 2000-12-20
    soldstatus $41,000
38. 2000-12-20
    soldstatus $41,000
39. 2000-12-19
    soldstatus $41,000
40. 2000-11-14
    historical
41. 2000-10-20
    listed $45,000
42. 2000-10-20
    listed $45,000

ⓘ 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: $1,207 · $101/mo
• Projected year-2 tax: $1,207 · $101/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,188
• − Mortgage interest: −$2,045
• − Property taxes: −$1,207
• − Insurance: −$182
• − Repairs & maintenance: −$895
• − Management: −$895
• − Depreciation: −$1,062
• Taxable income: $4,901
• Est. tax owed @ 24.0%: −$1,176
• After-tax cash flow: $3,975/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): 22,347
• Household income: $44,411
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1293.0

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 0.56)
• Race & ethnicity: Black 55% White 36% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 5% · China, Canada
• Languages at home: 93% English-only · Arabic 4% Spanish 1% Chinese 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: ▼ -49.84%
• Current HPI: 130.1152
• Rent YoY: ▲ 12.35%
• 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

+0.0% since first listed

25 events — show timeline

• 2026-05-05 Listed $45,000 REALCOMP
• 2026-05-05 Listed $45,000 MiRealSource-MiMLS
• 2025-04-25 Sold (MLS) $21,500 MiRealSource-MiMLS
• 2025-04-25 Sold (MLS) $21,500 REALCOMP
• 2025-04-03 Pending — MiRealSource-MiMLS
• 2025-04-03 Pending — REALCOMP
• 2025-03-17 Price Changed $25,200 MiRealSource-MiMLS
• 2025-03-17 Price Changed $25,200 REALCOMP
• 2025-01-31 Listed $28,000 MiRealSource-MiMLS
• 2025-01-22 Listed $28,000 REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2008-08-11 Sold (Public Records) $39,500 Public Records
• 2008-03-26 Listing Removed — MiRealSource-MiMLS
• 2008-03-26 Listing Removed — REALCOMP
• 2007-07-24 Listed $39,904 MiRealSource-MiMLS
• 2007-07-24 Listed $39,904 REALCOMP
• 2007-01-12 Listed $47,900 MiRealSource-MiMLS
• 2007-01-12 Listing Removed — MiRealSource-MiMLS
• 2007-01-12 Listed $47,900 REALCOMP
• 2000-12-20 Sold (MLS) $41,000 REALCOMP
• 2000-12-20 Sold (MLS) $41,000 MiRealSource-MiMLS
• 2000-12-19 Sold (Public Records) $41,000 Public Records
• 2000-11-14 Listing Removed — MiRealSource-MiMLS
• 2000-10-20 Listed $45,000 REALCOMP
• 2000-10-20 Listed $45,000 MiRealSource-MiMLS

Property tax history

+5.9%/yr

Latest (2025): $1,207 · -19.6% YoY. Source: county tax records.