1510 S Franklin Ave · Flint, MI 48503

$88,000

4 bd · 2.0 ba · 2,035 sqft · SingleFamily public records · 22 Days on market

Built 1964 7,405 sqft lot Est $147k · 40% under ↓ 45% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Charming ranch with 3 bedrooms, 1.5 baths, basement & garage. Convenient location - easy access to shopping, schools & expressways.

Key facts

• Convenient location
• 7,405 sq ft lot
• Garage

Tags

• CONVENIENT LOCATION
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO EXPRESSWAYS

Property features AI

Finance

• Other: Listing broker: Inca Realty, LLC

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water available; Public sewer available
• Home design: Single-family residence; One level; Above-grade finished area approximately 1,774 square feet
• Construction: Aluminum siding and brick exterior; Block foundation
• Exterior features: Paved road frontage; Lot approximately 50 x 150 (0.17 acres); Subdivision: WOODLAWN PARK; Ground-level entry with steps

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: 5 total rooms; Unfinished basement

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $87k (1.5% below list) — sets the bar for market timing.

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 rising fast (+12.3%/yr); 136 active listings in the ZIP; lower-income renter base — watch delinquency; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• This rent runs 39% of the median local income ($44k/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 $608 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 22y ago 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 $86,680 (1.5% below list)

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.62% ✓
• Cap rate: 12.52%
• Cash-on-cash: 22.23%
• DSCR: 1.99
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $146,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1129 S Franklin Ave	0.12mi	3/1.5 (-1)	2,018 (-1%)	7mo	$130,000	$64	80
1513 Brookwood Ave	0.19mi	4/1.5	1,845 (-9%)	8mo	$212,500	$115	67
1018 Lafayette St	0.25mi	3/1.5 (-1)	2,163 (+6%)	5mo	$130,000	$60	66
1106 Maxine St	0.26mi	3/1.5 (-1)	2,182 (+7%)	7mo	$201,000	$92	63
1814 Mcphail St	0.48mi	3/2.5 (-1)	1,927 (-5%)	3mo	$149,000	$77	59
1917 Whittlesey St	0.54mi	3/1.5 (-1)	1,978 (-3%)	5mo	$41,070	$21	59
607 Roome Ct	0.55mi	4/1.5	1,855 (-9%)	10mo	$120,000	$65	50
406 S Lynch St	0.73mi	3/1.5 (-1)	1,948 (-4%)	5mo	$139,900	$72	48
2131 Windemere Ave	0.50mi	3/1.0 (-1)	1,844 (-9%)	5mo	$90,000	$49	48
1628 Broad Ct	0.57mi	3/2.5 (-1)	2,220 (+9%)	7mo	$185,000	$83	46
315 Lafayette St	0.71mi	3/1.0 (-1)	1,933 (-5%)	6mo	$110,000	$57	44
701 Kensington Ave	0.47mi	4/2.5	2,332 (+15%)	10mo	$172,000	$74	44

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: 20.9%
• Equity multiple: 1.91×
• Total profit: $22,403
• Equity at exit: $13,121

10-year hold

• IRR: 32.4%
• Equity multiple: 4.71×
• Total profit: $91,469
• Equity at exit: $7,609

Cash invested: $24,640 (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: 136
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,425 medium
• Mortgage (P&I): −$461
• Tax from tax record: −$171 /mo · $2,058/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $456

Break-even live

Break-even rent $848

Max offer price $88,000

Occupancy floor 63%

Sensitivity live

Price	-10% $506	-5% $481	+0% $456	+5% $432	+10% $407
Rent	-10% $344	-5% $400	+0% $456	+5% $513	+10% $569
Rate	-1.0pp $501	-0.5pp $479	base $456	+0.5pp $434	+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: $22,000
• Closing costs: $2,640
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-05-30
   status $88,000 Pending 22 DOM
2. 2026-05-07
   listed $88,000 Active 143-char remark

   Show marketing remark (143 chars)

   Charming ranch with 3 bedrooms, 1.5 baths, basement & garage. Convenient location - easy access to shopping, schools & expressways.

3. 2026-05-07
   listed $88,000 Active

   Show marketing remark (143 chars)

   Charming ranch with 3 bedrooms, 1.5 baths, basement & garage. Convenient location - easy access to shopping, schools & expressways.

4. 2026-04-22
   historical
5. 2026-04-22
   historical
6. 2025-09-27
   status Active
7. 2025-09-26
   historical
8. 2025-05-13
   listed $126,600 Active
9. 2025-05-13
   listed $126,600 Active
10. 2025-05-12
    historical
11. 2025-05-12
    historical
12. 2025-04-23
    status Active
13. 2025-04-09
    historical
14. 2023-08-09
    listed $126,600 Active
15. 2023-08-09
    listed $126,600 Active
16. 2023-05-06
    historical
17. 2023-05-06
    historical
18. 2022-05-11
    listed $126,600 Active
19. 2022-05-11
    listed $126,600 Active
20. 2010-12-06
    historical
21. 2004-12-19
    historical
22. 2004-12-19
    historical
23. 2004-07-14
    listed $159,900
24. 2004-07-14
    listed $159,900
25. 2004-07-14
    listed $159,900

ⓘ 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: $2,058 · $171/mo
• Projected year-2 tax: $2,058 · $171/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 ≥97°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: $17,105
• − Mortgage interest: −$4,929
• − Property taxes: −$2,058
• − Insurance: −$440
• − Repairs & maintenance: −$1,368
• − Management: −$1,368
• − Depreciation: −$2,560
• Taxable income: $4,381
• Est. tax owed @ 24.0%: −$1,051
• After-tax cash flow: $4,426/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

-45.0% since first listed

24 events — show timeline

• 2026-05-07 Listed $88,000 REALCOMP
• 2026-05-07 Listed $88,000 MiRealSource-MiMLS
• 2026-04-22 Listing Removed — MiRealSource-MiMLS
• 2026-04-22 Listing Removed — REALCOMP
• 2025-09-27 Relisted — REALCOMP
• 2025-09-26 Listing Removed — REALCOMP
• 2025-05-13 Listed $126,600 REALCOMP
• 2025-05-13 Listed $126,600 MiRealSource-MiMLS
• 2025-05-12 Listing Removed — MiRealSource-MiMLS
• 2025-05-12 Listing Removed — REALCOMP
• 2025-04-23 Relisted — REALCOMP
• 2025-04-09 Listing Removed — REALCOMP
• 2023-08-09 Listed $126,600 MiRealSource-MiMLS
• 2023-08-09 Listed $126,600 REALCOMP
• 2023-05-06 Listing Removed — MiRealSource-MiMLS
• 2023-05-06 Listing Removed — REALCOMP
• 2022-05-11 Listed $126,600 MiRealSource-MiMLS
• 2022-05-11 Listed $126,600 REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2004-12-19 Listing Removed — REALCOMP
• 2004-12-19 Listing Removed — MiRealSource-MiMLS
• 2004-07-14 Listed $159,900 REALCOMP
• 2004-07-14 Listed $159,900 MiRealSource-MiMLS
• 2004-07-14 Listed $159,900 REALCOMP

Property tax history

+5.1%/yr

Latest (2025): $2,058 · +1.9% YoY. Source: county tax records.