2622 Concord St · Flint, MI 48504

$8,500

3 bd · 1.0 ba · 1,299 sqft · SingleFamily public records · 208 Days on market

Built 1945 5,227 sqft lot ↓ 4% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• 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

A property with great potential, ready for renovation or updates to bring it to its full value. Ideal for investors or buyers looking to customize a home to their taste. Homes must be complete with remodeling withing twelve months.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1945

Property features AI

Finance

• Other: Residential property in MODERN HOUSING CORP ADD subdivision; Directions: Mallery St / Concord St
• Financial info:
• HOA & community:

Exterior

• Parking: Detached 2-car garage
• Security:
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps
• Construction: Aluminum siding and brick exterior; Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 50 x 107.74 (0.12 acres)

Interior

• Kitchen:
• Bedrooms: 3 total rooms (includes bedrooms and living spaces)
• Flooring:
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $8k.

Deal economics

• At list price, monthly cash flow is $784 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $8k).
• Recommended offer: $7k (12.0% below list) — sets the bar for market timing.
• Cap rate 116.9% 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: 132 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $59 of loan paydown is wiped out by about $255 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 $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 208 days — a 12% lower offer ($7k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y ago; this cycle's ask has dropped $1k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $7,480 (12.0% below list)

Questions for the listing agent

1. It's been on market 208 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 1945 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 12.72% ✓
• Cap rate: 116.92%
• Cash-on-cash: 395.08%
• DSCR: 18.58
• GRM: 0.7

CMA / ARV

• ARV (on-the-fly): $37,671
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2622 Mackin Rd	0.15mi	2/1.0 (-1)	1,307 (+1%)	9mo	$28,000	$21	80
2112 Winona St	0.42mi	3/1.5	1,292 (-0%)	1mo	$30,000	$23	77
2525 Begole St	0.11mi	3/1.5	1,134 (-13%)	6mo	$24,000	$21	67
617 W Witherbee St	0.61mi	3/1.0	1,330 (+2%)	4mo	$15,525	$12	64
2730 Berkley St	0.36mi	3/1.0	1,427 (+10%)	6mo	$69,900	$49	62
501 W Witherbee St	0.70mi	3/1.0	1,274 (-2%)	3mo	$39,000	$31	62
1909 Welch Blvd	0.35mi	3/1.5	1,435 (+10%)	4mo	$28,600	$20	61
2410 Flushing Rd	0.62mi	4/2.0 (+1)	1,312 (+1%)	4mo	$39,000	$30	57
3307 Mackin Rd	0.64mi	3/1.5	1,345 (+4%)	9mo	$104,000	$77	55
1801 Clement St	0.58mi	3/2.0	1,430 (+10%)	2mo	$41,000	$29	51
3210 Emerson St	0.61mi	3/1.5	1,120 (-14%)	0mo	$86,500	$77	46
1702 Stevenson St	0.73mi	3/1.0	1,120 (-14%)	5mo	$17,500	$16	39

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: —
• Equity multiple: 21.40×
• Total profit: $48,552
• Equity at exit: $1,267

10-year hold

• IRR: —
• Equity multiple: 45.81×
• Total profit: $106,636
• Equity at exit: $735

Cash invested: $2,380 (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: 132
• Price-to-rent: 0.7×

Monthly cashflow live

• Estimated rent: $1,081 high
• Mortgage (P&I): −$45
• Tax from tax record: −$22 /mo · $268/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $784

Break-even live

Break-even rent $89

Max offer price $8,500

Occupancy floor 23%

Sensitivity live

Price	-10% $788	-5% $786	+0% $784	+5% $781	+10% $779
Rent	-10% $698	-5% $741	+0% $784	+5% $826	+10% $869
Rate	-1.0pp $788	-0.5pp $786	base $784	+0.5pp $781	+1.0pp $779

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: $2,125
• Closing costs: $255
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2544 Tyrone St Flint, MI	2.0	1.0	1440	$825	$0.57	14d	1	0.72mi
2428 Norbert St Flint, MI	3.0	1.0	1200	$1,250	$1.04	22d	1	0.84mi
1540 Garland St Flint, MI	3.0	2.5	1344	$1,017	$0.76	22d	1	0.97mi
711 W Dewey St Flint, MI	3.0	1.0	1011	$925	$0.91	22d	1	1.15mi
314 Sheffield Ave Flint, MI	2.0	1.0	896	$1,250	$1.40	22d	1	1.23mi
3713 Gratiot Ave Flint, MI	4.0	1.0	1400	$1,400	$1.00	22d	1	1.42mi

Listing history 8 events

1. 2025-12-16
   price $8,500 231-char remark

   Show marketing remark (231 chars)

   A property with great potential, ready for renovation or updates to bring it to its full value. Ideal for investors or buyers looking to customize a home to their taste. Homes must be complete with remodeling withing twelve months.

2. 2025-12-15
   price $8,500
3. 2025-10-30
   listed $9,900 Active 231-char remark

   Show marketing remark (231 chars)

   A property with great potential, ready for renovation or updates to bring it to its full value. Ideal for investors or buyers looking to customize a home to their taste. Homes must be complete with remodeling withing twelve months.

4. 2025-10-30
   listed $9,900 Active

   Show marketing remark (231 chars)

   A property with great potential, ready for renovation or updates to bring it to its full value. Ideal for investors or buyers looking to customize a home to their taste. Homes must be complete with remodeling withing twelve months.

5. 2014-01-01
   historical
6. 2013-12-31
   historical
7. 2013-05-13
   listed $8,900
8. 2013-05-13
   listed $8,900

ⓘ 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: $268 · $22/mo
• Projected year-2 tax: $268 · $22/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: $12,972
• − Mortgage interest: −$476
• − Property taxes: −$268
• − Insurance: −$42
• − Repairs & maintenance: −$1,038
• − Management: −$1,038
• − Depreciation: −$247
• Taxable income: $9,863
• Est. tax owed @ 24.0%: −$2,367
• After-tax cash flow: $7,036/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

-4.5% since first listed

8 events — show timeline

• 2025-12-16 Price Changed $8,500 MiRealSource-MiMLS
• 2025-12-15 Price Changed $8,500 REALCOMP
• 2025-10-30 Listed $9,900 REALCOMP
• 2025-10-30 Listed $9,900 MiRealSource-MiMLS
• 2014-01-01 Listing Removed — REALCOMP
• 2013-12-31 Listing Removed — MiRealSource-MiMLS
• 2013-05-13 Listed $8,900 MiRealSource-MiMLS
• 2013-05-13 Listed $8,900 REALCOMP

Property tax history

-16.5%/yr

Latest (2020): $268 · -71.3% YoY. Source: county tax records.