1450 Carman St · Burton, MI 48529

$69,900

3 bd · 1.0 ba · 1,140 sqft · SingleFamily · 165 Days on market

Built 1930 9,148 sqft lot $61/sqft · 29% below area Est $99k · 29% under ↓ 21% 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 +29.3/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

Key facts

• Huge front deck
• Partially fenced
• Two 1-car garages

Tags

• DOUBLE LOT
• PARTIALLY FENCED
• TWO 1-CAR GARAGES
• MATURE TREES
• HUGE FRONT DECK
• MAIN FLOOR LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

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 $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.8% in Burton — 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 61/100 on livability (#555 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Bendle Public Schools (suburban): math 6% / reading 29% proficiency, ranked #487 of 540 in MI (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 53 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $483 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $25k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.56% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.02%
• DSCR: 1.67
• GRM: 5.3

CMA / ARV

• ARV (median comp): $99,053
• List price: $69,900
• Delta: -29.43%
• 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
1465 Norton St	0.13mi	3/1.5	1,260 (+10%)	5mo	$119,999	$95	70
1186 E Decamp St	0.54mi	3/1.0	1,100 (-4%)	4mo	$84,000	$76	65
1374 Kenneth St	0.21mi	3/1.0	1,284 (+13%)	7mo	$115,000	$90	63
2064 E Parkwood Ave	0.53mi	3/1.5	1,196 (+5%)	7mo	$113,500	$95	59
3508 Fern Ave	0.65mi	3/1.0	1,060 (-7%)	0mo	$132,000	$125	58
612 Alvord Ave	0.70mi	3/1.0	1,082 (-5%)	4mo	$76,500	$71	56
2043 E Schumacher St	0.66mi	3/1.5	1,064 (-7%)	5mo	$125,000	$117	52
4133 Custer Ave	0.72mi	2/1.5 (-1)	1,192 (+5%)	3mo	$114,000	$96	50
2061 E Boatfield Ave	0.43mi	3/2.0	1,310 (+15%)	3mo	$211,000	$161	49
652 Huron St	0.67mi	3/2.0	1,245 (+9%)	7mo	$116,000	$93	44
2275 Connell St	0.69mi	3/1.0	1,296 (+14%)	2mo	$162,999	$126	43
326 Burroughs Ave	0.73mi	2/1.0 (-1)	1,008 (-12%)	2mo	$47,500	$47	40

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: 5.7%
• Equity multiple: 1.22×
• Total profit: $4,375
• Equity at exit: $10,422

10-year hold

• IRR: 15.2%
• Equity multiple: 2.24×
• Total profit: $24,300
• Equity at exit: $6,044

Cash invested: $19,572 (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 48529

• Home prices YoY: -26.5%
• Active inventory: 53
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,090 high
• Mortgage (P&I): −$367
• Tax from tax record: −$221 /mo · $2,646/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $245

Break-even live

Break-even rent $780

Max offer price $69,900

Occupancy floor 73%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4428 Pengelly Rd Flint, MI	4.0	2.0	1275	$900	$0.71	43d	1	0.54mi
4411 Red Arrow Rd Flint, MI	3.0	1.5	1200	$1,400	$1.17	13d	1	0.66mi
2266 Donovan St Burton, MI	2.0	1.0	700	$800	$1.14	13d	1	0.66mi
4400 Kings Ln Burton, MI	1.0–2.0	1.0–2.0	666	$960	$1.44	13d	19	0.66mi
3291 Glengary St Burton, MI	2.0	1.0	972	$1,075	$1.11	43d	1	0.76mi
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	13d	1	0.83mi
805 E Hemphill Rd Flint, MI	3.0	1.5	1200	$1,000	$0.83	13d	1	0.89mi
4070 Greenbriar Blvd Burton, MI	3.0–4.0	2.0	1512	$1,399	$0.93	13d	1	0.99mi
1034 McKeighan Ave Flint, MI	3.0	1.0	1040	$1,250	$1.20	21d	1	1.07mi
4509 Cheyenne Ave Flint, MI	3.0	1.5	1200	$1,400	$1.17	13d	1	1.11mi
912 Waldman Ave Flint, MI	3.0	2.0	1223	$675	$0.55	13d	1	1.11mi
1426 Pettibone Ave Flint, MI	2.0	1.0	750	$900	$1.20	21d	1	1.46mi

Listing history 33 events

1. 2026-06-18
   days on market $69,900 Active 165 DOM
2. 2026-06-17
   days on market $69,900 Active 164 DOM
3. 2026-06-16
   days on market $69,900 Active 163 DOM
4. 2026-06-15
   days on market $69,900 Active 162 DOM
5. 2026-06-14
   days on market $69,900 Active 160 DOM
6. 2026-06-13
   statusdays on market $69,900 Active 159 DOM
7. 2026-06-09
   status $69,900 Pending 158 DOM
8. 2026-06-08
   days on market $69,900 Active 158 DOM
9. 2026-06-07
   days on market $69,900 Active 157 DOM
10. 2026-06-05
    pricedays on market $69,900 Active 154 DOM
11. 2026-06-03
    days on market $74,900 Active 153 DOM
12. 2026-06-02
    days on market $74,900 Active 152 DOM
13. 2026-06-01
    days on market $74,900 Active 151 DOM
14. 2026-05-31
    days on market $74,900 Active 150 DOM
15. 2026-05-30
    days on market $74,900 Active 149 DOM
16. 2026-04-27
    status Active 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

17. 2026-04-27
    status Active 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

18. 2026-04-20
    status Pending 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

19. 2026-04-20
    status Pending 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

20. 2026-04-16
    status Active 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

21. 2026-04-16
    status Active 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

22. 2026-04-15
    status Pending 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

23. 2026-04-15
    status Pending 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

24. 2026-03-26
    price $74,900 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

25. 2026-03-26
    price $75,900 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

26. 2026-03-26
    price $74,900 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

27. 2026-03-26
    price $75,900 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

28. 2026-02-12
    price $79,900 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

29. 2026-02-11
    price $79,900 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

30. 2026-01-15
    price $89,900 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

31. 2026-01-14
    price $89,900 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

32. 2025-12-23
    listed $94,900 Active 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

33. 2025-12-23
    listed $94,900 Active 265-char remark

    Show marketing remark (265 chars)

    Great possibilities in this 1 story home on a double lot, partially fenced with two 1-car garages surrounded by mature trees. Huge front deck and close to all amenities. Freshly painted and new floor coverings plus furnace replaced in 2024. Main floor laundry room.

ⓘ 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: $2,646 · $221/mo
• Projected year-2 tax: $2,646 · $221/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: $13,081
• − Mortgage interest: −$3,915
• − Property taxes: −$2,646
• − Insurance: −$350
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$2,033
• Taxable income: $2,044
• Est. tax owed @ 24.0%: −$490
• After-tax cash flow: $2,449/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: Bendle Public Schools
• NCES district ID: 2604740
• Math proficiency: 6% ▼ -7.00%
• Reading proficiency: 29% ▼ -1.00%
• Median HH income: $35,492
• Composite: 14.36/100
• National rank: #9438
• State rank: #487 of 540 in MI

Livability — Burton

• Score: 61/100
• State rank: #555
• US rank: #17380

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burton, MI
• City population: 26,014
• Population (ZIP): 8,959

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 (82%)
• Race & ethnicity: White 82% Black 9% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 4%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · 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: ▼ -82.30%
• Current HPI: 228.5338
• 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

-21.1% since first listed

18 events — show timeline

• 2026-04-27 Relisted — REALCOMP
• 2026-04-27 Relisted — MiRealSource-MiMLS
• 2026-04-20 Pending — REALCOMP
• 2026-04-20 Pending — MiRealSource-MiMLS
• 2026-04-16 Relisted — REALCOMP
• 2026-04-16 Relisted — MiRealSource-MiMLS
• 2026-04-15 Pending — REALCOMP
• 2026-04-15 Pending — MiRealSource-MiMLS
• 2026-03-26 Price Changed $74,900 MiRealSource-MiMLS
• 2026-03-26 Price Changed $75,900 MiRealSource-MiMLS
• 2026-03-26 Price Changed $74,900 REALCOMP
• 2026-03-26 Price Changed $75,900 REALCOMP
• 2026-02-12 Price Changed $79,900 MiRealSource-MiMLS
• 2026-02-11 Price Changed $79,900 REALCOMP
• 2026-01-15 Price Changed $89,900 MiRealSource-MiMLS
• 2026-01-14 Price Changed $89,900 REALCOMP
• 2025-12-23 Listed $94,900 MiRealSource-MiMLS
• 2025-12-23 Listed $94,900 REALCOMP

Property tax history

+9.5%/yr

Latest (2025): $2,646 · +2.6% YoY. Source: county tax records.