1024 Ossington Ave · Flint, MI 48507

$39,900

3 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 109 Days on market

Built 1928 3,920 sqft lot Est $65k · 38% under ↓ 4% since listing

---

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
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2-Family Flat features 2 2-bedroom apartments with separate entrances and separate access to the basement. The basement is setup for an efficiency apt The roof has been patched but does not leak, the property needs some TLC but not a major rehab. The upstairs unit is currently rented month to month at a discount for $500/mo but could rent for $800/mo, the lower unit should rent for $800 or more. The garage has a steel roof, 220 amp service, the garage bay door needs repairs. The building has 1 furnace, 1 HWH with shared utilities. This is an incredible opportunity for immediate cash flow.

Key facts

• 220 amp service
• Steel roof
• 2 family flat

Tags

• 2 FAMILY FLAT
• SEPARATE ENTRANCES
• SETUP FOR AN EFFICIENCY APT
• STEEL ROOF
• 220 AMP SERVICE

Property features AI

Finance

• Financial info: Property listed as residential income (multi-family); Two rental units with reported actual rent of $500 per unit

Exterior

• Utilities: Water available; Sewer available
• Home design: Two-story multi-family residential income property; Aluminum siding exterior; Entry level information not specified
• Construction: Block foundation; Aluminum siding construction
• Exterior features: Front yard fencing; Paved road access; Lot is approximately 0.09 acres (40 x 93), residential zoning

Interior

• Bedrooms: Two 2-bedroom units
• Bathrooms: Two full bathrooms (one per unit)
• Heating & cooling: Forced air heating (natural gas); No central air conditioning
• Interior features: Full unfinished basement

🏷️ Possibly a rental listed for sale. The $39,900 price doesn't fit this home's estimated sale value (~$64,512) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($948 rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.0% vs local median 11.5% 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: 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; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $276 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 + 0.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $30k (43%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $36,309 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — 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: 2.38% ✓
• Cap rate: 19.02%
• Cash-on-cash: 45.44%
• DSCR: 3.02
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $64,512
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1405 Vermilya Ave	0.43mi	4/2.0 (+1)	1,152 (0%)	0mo	$55,000	$48	75
3902 Brunswick Ave	0.60mi	3/2.0	1,128 (-2%)	2mo	$123,000	$109	66
905 Victoria Ave	0.26mi	3/1.0	1,060 (-8%)	9mo	$19,000	$18	63
1406 Lincoln Ave	0.46mi	3/1.0	1,106 (-4%)	9mo	$59,000	$53	61
3508 Briarwood Dr	0.66mi	3/1.5	1,140 (-1%)	10mo	$109,900	$96	57
1523 Waldman St	0.61mi	2/1.0 (-1)	1,179 (+2%)	6mo	$125,000	$106	54
825 Vermilya Ave	0.41mi	4/1.0 (+1)	1,020 (-12%)	3mo	$30,000	$29	50
2021 Brooks St	0.31mi	2/1.0 (-1)	987 (-14%)	3mo	$55,000	$56	50
1228 Leland St	0.65mi	3/1.0	1,047 (-9%)	5mo	$67,500	$64	46
701 Waldman Ave	0.63mi	3/1.0	1,063 (-8%)	11mo	$37,000	$35	45
1212 Crawford St	0.70mi	3/1.5	1,281 (+11%)	5mo	$50,000	$39	43
1418 Blueberry Ln	0.75mi	3/1.0	1,045 (-9%)	4mo	$78,000	$75	42

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: 38.9%
• Equity multiple: 2.59×
• Total profit: $17,747
• Equity at exit: $5,949

10-year hold

• IRR: 43.8%
• Equity multiple: 4.54×
• Total profit: $39,598
• Equity at exit: $3,450

Cash invested: $11,172 (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: 3.5×

Monthly cashflow live

• Estimated rent: $948 high
• Mortgage (P&I): −$209
• Tax from tax record: −$100 /mo · $1,199/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$199
• Net cashflow: $423

Break-even live

Break-even rent $412

Max offer price $39,900

Occupancy floor 50%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
912 Waldman Ave Flint, MI	3.0	2.0	1223	$675	$0.55	13d	1	0.46mi
1426 Pettibone Ave Flint, MI	2.0	1.0	750	$900	$1.20	20d	1	0.51mi
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	13d	1	0.76mi
410 Lippincott Blvd Flint, MI	2.0	1.0	800	$695	$0.87	13d	1	1.13mi
4400 Kings Ln Burton, MI	1.0–2.0	1.0–2.0	666	$960	$1.44	13d	19	1.17mi
1410 Bradley Ave Flint, MI	3.0	1.5	1160	$995	$0.86	20d	1	1.46mi
2610 Swayze St Flint, MI	3.0	1.5	1194	$950	$0.80	20d	1	1.47mi

Listing history 29 events

1. 2026-06-19
   price $39,900 Active 109 DOM
2. 2026-06-18
   days on market $49,900 Active 109 DOM
3. 2026-06-17
   days on market $49,900 Active 108 DOM
4. 2026-06-16
   days on market $49,900 Active 107 DOM
5. 2026-06-15
   days on market $49,900 Active 106 DOM
6. 2026-06-14
   days on market $49,900 Active 104 DOM
7. 2026-06-13
   days on market $49,900 Active 103 DOM
8. 2026-06-10
   days on market $49,900 Active 101 DOM
9. 2026-06-09
   days on market $49,900 Active 100 DOM
10. 2026-06-08
    days on market $49,900 Active 99 DOM
11. 2026-06-07
    days on market $49,900 Active 98 DOM
12. 2026-06-05
    days on market $49,900 Active 95 DOM
13. 2026-06-03
    days on market $49,900 Active 94 DOM
14. 2026-06-02
    days on market $49,900 Active 93 DOM
15. 2026-06-01
    days on market $49,900 Active 92 DOM
16. 2026-05-31
    days on market $49,900 Active 91 DOM
17. 2026-05-30
    days on market $49,900 Active 90 DOM
18. 2026-05-21
    price $49,900 600-char remark

    Show marketing remark (600 chars)

    This 2-Family Flat features 2 2-bedroom apartments with separate entrances and separate access to the basement. The basement is setup for an efficiency apt The roof has been patched but does not leak, the property needs some TLC but not a major rehab. The upstairs unit is currently rented month to month at a discount for $500/mo but could rent for $800/mo, the lower unit should rent for $800 or more. The garage has a steel roof, 220 amp service, the garage bay door needs repairs. The building has 1 furnace, 1 HWH with shared utilities. This is an incredible opportunity for immediate cash flow.

19. 2026-05-21
    status Active 600-char remark

    Show marketing remark (600 chars)

    This 2-Family Flat features 2 2-bedroom apartments with separate entrances and separate access to the basement. The basement is setup for an efficiency apt The roof has been patched but does not leak, the property needs some TLC but not a major rehab. The upstairs unit is currently rented month to month at a discount for $500/mo but could rent for $800/mo, the lower unit should rent for $800 or more. The garage has a steel roof, 220 amp service, the garage bay door needs repairs. The building has 1 furnace, 1 HWH with shared utilities. This is an incredible opportunity for immediate cash flow.

20. 2026-05-21
    status Active

    Show marketing remark (600 chars)

    This 2-Family Flat features 2 2-bedroom apartments with separate entrances and separate access to the basement. The basement is setup for an efficiency apt The roof has been patched but does not leak, the property needs some TLC but not a major rehab. The upstairs unit is currently rented month to month at a discount for $500/mo but could rent for $800/mo, the lower unit should rent for $800 or more. The garage has a steel roof, 220 amp service, the garage bay door needs repairs. The building has 1 furnace, 1 HWH with shared utilities. This is an incredible opportunity for immediate cash flow.

21. 2026-05-21
    price $49,900

    Show marketing remark (600 chars)

    This 2-Family Flat features 2 2-bedroom apartments with separate entrances and separate access to the basement. The basement is setup for an efficiency apt The roof has been patched but does not leak, the property needs some TLC but not a major rehab. The upstairs unit is currently rented month to month at a discount for $500/mo but could rent for $800/mo, the lower unit should rent for $800 or more. The garage has a steel roof, 220 amp service, the garage bay door needs repairs. The building has 1 furnace, 1 HWH with shared utilities. This is an incredible opportunity for immediate cash flow.

22. 2026-05-19
    status Pending 600-char remark

    Show marketing remark (600 chars)

    This 2-Family Flat features 2 2-bedroom apartments with separate entrances and separate access to the basement. The basement is setup for an efficiency apt The roof has been patched but does not leak, the property needs some TLC but not a major rehab. The upstairs unit is currently rented month to month at a discount for $500/mo but could rent for $800/mo, the lower unit should rent for $800 or more. The garage has a steel roof, 220 amp service, the garage bay door needs repairs. The building has 1 furnace, 1 HWH with shared utilities. This is an incredible opportunity for immediate cash flow.

23. 2026-05-19
    status Pending

    Show marketing remark (600 chars)

    This 2-Family Flat features 2 2-bedroom apartments with separate entrances and separate access to the basement. The basement is setup for an efficiency apt The roof has been patched but does not leak, the property needs some TLC but not a major rehab. The upstairs unit is currently rented month to month at a discount for $500/mo but could rent for $800/mo, the lower unit should rent for $800 or more. The garage has a steel roof, 220 amp service, the garage bay door needs repairs. The building has 1 furnace, 1 HWH with shared utilities. This is an incredible opportunity for immediate cash flow.

24. 2026-03-25
    price $59,900 600-char remark

    Show marketing remark (600 chars)

    This 2-Family Flat features 2 2-bedroom apartments with separate entrances and separate access to the basement. The basement is setup for an efficiency apt The roof has been patched but does not leak, the property needs some TLC but not a major rehab. The upstairs unit is currently rented month to month at a discount for $500/mo but could rent for $800/mo, the lower unit should rent for $800 or more. The garage has a steel roof, 220 amp service, the garage bay door needs repairs. The building has 1 furnace, 1 HWH with shared utilities. This is an incredible opportunity for immediate cash flow.

25. 2026-03-24
    price $59,900
26. 2026-02-24
    listed $69,900 Active 600-char remark

    Show marketing remark (600 chars)

    This 2-Family Flat features 2 2-bedroom apartments with separate entrances and separate access to the basement. The basement is setup for an efficiency apt The roof has been patched but does not leak, the property needs some TLC but not a major rehab. The upstairs unit is currently rented month to month at a discount for $500/mo but could rent for $800/mo, the lower unit should rent for $800 or more. The garage has a steel roof, 220 amp service, the garage bay door needs repairs. The building has 1 furnace, 1 HWH with shared utilities. This is an incredible opportunity for immediate cash flow.

27. 2026-02-24
    listed $69,900 Active

    Show marketing remark (600 chars)

    This 2-Family Flat features 2 2-bedroom apartments with separate entrances and separate access to the basement. The basement is setup for an efficiency apt The roof has been patched but does not leak, the property needs some TLC but not a major rehab. The upstairs unit is currently rented month to month at a discount for $500/mo but could rent for $800/mo, the lower unit should rent for $800 or more. The garage has a steel roof, 220 amp service, the garage bay door needs repairs. The building has 1 furnace, 1 HWH with shared utilities. This is an incredible opportunity for immediate cash flow.

28. 2007-03-02
    historical
29. 2006-09-05
    listed $52,000

ⓘ 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: $1,199 · $100/mo
• Projected year-2 tax: $1,199 · $100/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: $11,375
• − Mortgage interest: −$2,235
• − Property taxes: −$1,199
• − Insurance: −$200
• − Repairs & maintenance: −$910
• − Management: −$910
• − Depreciation: −$1,161
• Taxable income: $4,761
• Est. tax owed @ 24.0%: −$1,143
• After-tax cash flow: $3,934/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

-4.0% since first listed

12 events — show timeline

• 2026-05-21 Price Changed $49,900 MiRealSource-MiMLS
• 2026-05-21 Relisted — MiRealSource-MiMLS
• 2026-05-21 Relisted — REALCOMP
• 2026-05-21 Price Changed $49,900 REALCOMP
• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-19 Pending — REALCOMP
• 2026-03-25 Price Changed $59,900 MiRealSource-MiMLS
• 2026-03-24 Price Changed $59,900 REALCOMP
• 2026-02-24 Listed $69,900 REALCOMP
• 2026-02-24 Listed $69,900 MiRealSource-MiMLS
• 2007-03-02 Listing Removed — MiRealSource-MiMLS
• 2006-09-05 Listed $52,000 MiRealSource-MiMLS

Property tax history

+2.5%/yr

Latest (2025): $1,199 · +2.0% YoY. Source: county tax records.