1816 Russett Pl · Flint, MI 48504

$39,900

4 bd · 1.5 ba · 1,002 sqft · SingleFamily public records · 35 Days on market

Built 1971 6,534 sqft lot Est $36k · 11% over ↓ 23% since listing

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• ARV discount +2.7/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Handyman Special. This is a large ranch style home with an attached garage and a full basement. Previous owners have changed the original bedroom configuration. It was originally a 4 bedroom ranch, one of the bedrooms has been eliminated to create a larger living room and two bedrooms have been combined into 1 bedroom. Their intent was to have 2 bedrooms on the main floor and 2 bedrooms in the basement which are still there. With a relatively small amount of work this home could easily be restored to a 3 or 4 bedroom. There is also a very large bonus room/family room with a wood burning fireplace that adds a huge amount of square feet. The basement is still partially finished and would not take much effort to make it a nice living area. The house has been cleaned out and is ready for a rehab. The kitchen and bathrooms need refreshing/updating and it needs flooring and paint. The house is on a corner lot, there are two driveways one off of Russet Pl and one off of Fleetwood. It would be great project for a handy homeowner or an investor looking for a flip or a long term rental property. Sellers were going to rehab this one but they got sidetracked with other projects. This one needs some TLC and a rehab but the end value is definitely there.

Key facts

• Attached garage
• Bonus room
• Full basement

Tags

• LARGE RANCH STYLE HOME
• ATTACHED GARAGE
• FULL BASEMENT
• LARGER LIVING ROOM
• BONUS ROOM
• WOOD BURNING FIREPLACE

Property features AI

Exterior

• Parking: Attached garage (approximately 2.5 spaces)
• Utilities: Circuit breaker electrical service; Municipal water available; Sewer available
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Aluminum siding and brick exterior; Block foundation; Asphalt roof; Built area above grade approximately 2,500 (finished) with about 600 below-grade finished
• Exterior features: Porch; Back yard fencing; Corner lot; Paved road access

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Gas water heater; Wood-burning fireplace in the family room; Partially finished basement; Total of 8 rooms
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 20.3% 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: 131 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 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 + 3.0% 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 35 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $5k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $40k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price.

Recommended offer $38,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1971 — 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: 2.48% ✓
• Cap rate: 20.31%
• Cash-on-cash: 50.08%
• DSCR: 3.23
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $36,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1807 Russett Pl	0.03mi	3/1.0 (-1)	936 (-7%)	8mo	$34,000	$36	74
6310 Valorie Ln	0.29mi	3/1.0 (-1)	1,040 (+4%)	4mo	$49,900	$48	70
1511 W Home Ave	0.36mi	3/1.5 (-1)	1,042 (+4%)	3mo	$35,500	$34	69
5905 Cloverlawn Dr	0.44mi	3/1.0 (-1)	983 (-2%)	2mo	$30,000	$31	68
2106 Janice Dr	0.22mi	3/1.0 (-1)	913 (-9%)	2mo	$74,000	$81	66
2017 Chateau Dr	0.30mi	3/1.5 (-1)	915 (-9%)	5mo	$50,000	$55	62
813 Chatham Dr	0.55mi	3/1.5 (-1)	942 (-6%)	1mo	$33,700	$36	59
5722 Susan St	0.57mi	3/1.0 (-1)	989 (-1%)	8mo	$33,000	$33	57
6611 Sally Ct	0.33mi	3/1.0 (-1)	1,120 (+12%)	2mo	$21,420	$19	56
7005 Daryll St	0.42mi	3/1.5 (-1)	1,093 (+9%)	8mo	$43,000	$39	54
5909 Edwards Ave	0.66mi	3/1.0 (-1)	936 (-7%)	10mo	$20,600	$22	43
626 W Austin Ave	0.70mi	3/1.5 (-1)	869 (-13%)	1mo	$34,000	$39	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: 47.8%
• Equity multiple: 3.08×
• Total profit: $23,268
• Equity at exit: $5,949

10-year hold

• IRR: 53.5%
• Equity multiple: 6.25×
• Total profit: $58,656
• 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 48504

• Active inventory: 131
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $989 high
• Mortgage (P&I): −$209
• Tax from tax record: −$89 /mo · $1,072/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $466

Break-even live

Break-even rent $399

Max offer price $39,900

Occupancy floor 48%

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 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5905 Griggs Dr Flint, MI	3.0	1.0	940	$1,000	$1.06	14d	1	0.39mi
6802 DuPont St Flint, MI	3.0	1.0	1200	$1,000	$0.83	21d	1	0.62mi
5813 Edwards Ave Flint, MI	3.0	1.0	1500	$899	$0.60	14d	1	0.67mi
514 W Alma Ave Flint, MI	3.0	1.0	894	$925	$1.03	14d	1	0.77mi
5280 Cedar Shores Ct Flint, MI	2.0–3.0	2.0	1150	$1,148	$1.00	14d	6	0.82mi
5413 DuPont St Flint, MI	4.0	1.5	1038	$900	$0.87	21d	1	0.85mi
411 W Marengo Ave Flint, MI	3.0	1.0	1350	$1,072	$0.79	14d	1	1.23mi
2216 Obrien Rd Mount Morris, MI	3.0	2.0	1080	$1,000	$0.93	14d	1	1.37mi

Listing history 32 events

1. 2026-06-19
   price $39,900 Active 35 DOM
2. 2026-06-18
   days on market $44,900 Active 35 DOM
3. 2026-06-17
   days on market $44,900 Active 34 DOM
4. 2026-06-16
   days on market $44,900 Active 33 DOM
5. 2026-06-15
   days on market $44,900 Active 32 DOM
6. 2026-06-14
   days on market $44,900 Active 30 DOM
7. 2026-06-13
   days on market $44,900 Active 29 DOM
8. 2026-06-10
   days on market $44,900 Active 27 DOM
9. 2026-06-09
   days on market $44,900 Active 26 DOM
10. 2026-06-08
    days on market $44,900 Active 25 DOM
11. 2026-06-07
    days on market $44,900 Active 24 DOM
12. 2026-06-05
    days on market $44,900 Active 21 DOM
13. 2026-06-03
    days on market $44,900 Active 20 DOM
14. 2026-06-02
    days on market $44,900 Active 19 DOM
15. 2026-06-01
    days on market $44,900 Active 18 DOM
16. 2026-05-31
    days on market $44,900 Active 17 DOM
17. 2026-05-30
    days on market $44,900 Active 16 DOM
18. 2026-05-12
    listed $44,900 Active 1260-char remark

    Show marketing remark (1260 chars)

    Handyman Special. This is a large ranch style home with an attached garage and a full basement. Previous owners have changed the original bedroom configuration. It was originally a 4 bedroom ranch, one of the bedrooms has been eliminated to create a larger living room and two bedrooms have been combined into 1 bedroom. Their intent was to have 2 bedrooms on the main floor and 2 bedrooms in the basement which are still there. With a relatively small amount of work this home could easily be restored to a 3 or 4 bedroom. There is also a very large bonus room/family room with a wood burning fireplace that adds a huge amount of square feet. The basement is still partially finished and would not take much effort to make it a nice living area. The house has been cleaned out and is ready for a rehab. The kitchen and bathrooms need refreshing/updating and it needs flooring and paint. The house is on a corner lot, there are two driveways one off of Russet Pl and one off of Fleetwood. It would be great project for a handy homeowner or an investor looking for a flip or a long term rental property. Sellers were going to rehab this one but they got sidetracked with other projects. This one needs some TLC and a rehab but the end value is definitely there.

19. 2026-05-12
    listed $44,900 Active

    Show marketing remark (1260 chars)

    Handyman Special. This is a large ranch style home with an attached garage and a full basement. Previous owners have changed the original bedroom configuration. It was originally a 4 bedroom ranch, one of the bedrooms has been eliminated to create a larger living room and two bedrooms have been combined into 1 bedroom. Their intent was to have 2 bedrooms on the main floor and 2 bedrooms in the basement which are still there. With a relatively small amount of work this home could easily be restored to a 3 or 4 bedroom. There is also a very large bonus room/family room with a wood burning fireplace that adds a huge amount of square feet. The basement is still partially finished and would not take much effort to make it a nice living area. The house has been cleaned out and is ready for a rehab. The kitchen and bathrooms need refreshing/updating and it needs flooring and paint. The house is on a corner lot, there are two driveways one off of Russet Pl and one off of Fleetwood. It would be great project for a handy homeowner or an investor looking for a flip or a long term rental property. Sellers were going to rehab this one but they got sidetracked with other projects. This one needs some TLC and a rehab but the end value is definitely there.

20. 2026-04-22
    soldstatus $23,000
21. 2026-04-02
    soldstatus $23,000 Closed 66-char remark

    Show marketing remark (66 chars)

    Ready for updating and set for new homeowners and investors alike.

22. 2026-04-02
    soldstatus $23,000 Closed

    Show marketing remark (66 chars)

    Ready for updating and set for new homeowners and investors alike.

23. 2025-10-03
    historical 66-char remark

    Show marketing remark (66 chars)

    Ready for updating and set for new homeowners and investors alike.

24. 2025-10-03
    listed $26,500 66-char remark

    Show marketing remark (66 chars)

    Ready for updating and set for new homeowners and investors alike.

25. 2025-10-03
    listed $26,500

    Show marketing remark (66 chars)

    Ready for updating and set for new homeowners and investors alike.

26. 2025-10-03
    historical

    Show marketing remark (66 chars)

    Ready for updating and set for new homeowners and investors alike.

27. 2021-10-01
    historical
28. 2021-10-01
    historical
29. 2021-09-04
    price $56,500
30. 2021-09-04
    price $56,500
31. 2021-08-21
    listed $58,500 Active
32. 2021-08-21
    listed $58,500 Active

ⓘ 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: $1,072 · $89/mo
• Projected year-2 tax: $1,072 · $89/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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,870
• − Mortgage interest: −$2,235
• − Property taxes: −$1,072
• − Insurance: −$200
• − Repairs & maintenance: −$950
• − Management: −$950
• − Depreciation: −$1,161
• Taxable income: $5,303
• Est. tax owed @ 24.0%: −$1,273
• After-tax cash flow: $4,322/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
• City population: 93,814
• Population (ZIP): 23,873

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 Black (66%)
• Race & ethnicity: Black 66% White 24% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -101.67%
• Current HPI: 94.3111
• 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

-23.2% since first listed

15 events — show timeline

• 2026-05-12 Listed $44,900 REALCOMP
• 2026-05-12 Listed $44,900 MiRealSource-MiMLS
• 2026-04-22 Sold (Public Records) $23,000 Public Records
• 2026-04-02 Sold (MLS) $23,000 REALCOMP
• 2026-04-02 Sold (MLS) $23,000 MiRealSource-MiMLS
• 2025-10-03 Listing Removed — REALCOMP
• 2025-10-03 Listed $26,500 REALCOMP
• 2025-10-03 Listed $26,500 MiRealSource-MiMLS
• 2025-10-03 Listing Removed — MiRealSource-MiMLS
• 2021-10-01 Listing Removed — REALCOMP
• 2021-10-01 Listing Removed — MiRealSource-MiMLS
• 2021-09-04 Price Changed $56,500 MiRealSource-MiMLS
• 2021-09-04 Price Changed $56,500 REALCOMP
• 2021-08-21 Listed $58,500 MiRealSource-MiMLS
• 2021-08-21 Listed $58,500 REALCOMP

Property tax history

+1.5%/yr

Latest (2025): $1,072 · +1.7% YoY. Source: county tax records.