842 Leland St · Flint, MI 48507

$19,900

2 bd · 1.0 ba · 616 sqft · SingleFamily public records · 33 Days on market

Built 1940 3,485 sqft lot Est $23k · 15% under

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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 +14.2/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

Key facts

• New furnace
• Water heater
• 3,485 sq ft lot

Tags

• NEW FURNACE
• WATER HEATER
• ADDITIONAL ADJOINED LOT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($893 rent vs $20k).
• Recommended offer: $19k (3.0% below list) — sets the bar for market timing.
• Cap rate 38.4% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $138 of loan paydown is wiped out by about $597 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 9y ago; this cycle's ask has dropped $8k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $20k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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 1940 — 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. 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?
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: 4.49% ✓
• Cap rate: 38.41%
• Cash-on-cash: 114.71%
• DSCR: 6.10
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $23,408
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
821 Vermilya Ave	0.28mi	2/1.0	616 (0%)	10mo	$49,900	$81	78
1216 E Hemphill Rd	0.48mi	2/1.0	630 (+2%)	1mo	$60,000	$95	73
1101 Lincoln Ave	0.33mi	2/1.0	666 (+8%)	7mo	$35,000	$53	65
1377 Allen St	0.70mi	2/1.0	630 (+2%)	1mo	$72,000	$114	63
1137 Vermilya Ave	0.41mi	2/1.0	660 (+7%)	10mo	$25,000	$38	61
1302 Huron St	0.44mi	2/1.0	572 (-7%)	10mo	$6,630	$12	59
619 Freeman Ave	0.46mi	2/1.0	560 (-9%)	6mo	$12,000	$21	58
908 Barrie Ave	0.53mi	2/2.0	660 (+7%)	8mo	$9,250	$14	53
955 Paddington Ave	0.72mi	2/1.0	660 (+7%)	10mo	$16,000	$24	46
1151 Wells St	0.61mi	2/1.0	535 (-13%)	5mo	$12,000	$22	46
1169 Carman St	0.67mi	3/1.0 (+1)	680 (+10%)	5mo	$85,900	$126	42
842 Ossington Ave	0.63mi	2/1.0	704 (+14%)	7mo	$15,000	$21	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: —
• Equity multiple: 6.05×
• Total profit: $28,118
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 11.44×
• Total profit: $58,198
• Equity at exit: $1,721

Cash invested: $5,572 (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 48507

• Rents YoY: -1.0%
• Active inventory: 206
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $893 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$60 /mo · $722/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $533

Break-even live

Break-even rent $219

Max offer price $19,900

Occupancy floor 35%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	13d	1	0.12mi
4400 Kings Ln Burton, MI	1.0–2.0	1.0–2.0	666	$960	$1.44	13d	19	0.52mi
1426 Pettibone Ave Flint, MI	2.0	1.0	750	$900	$1.20	21d	1	0.54mi
1023 Barrie Ave Flint, MI	2.0	1.0	660	$775	$1.17	21d	1	0.56mi

Listing history 30 events

1. 2026-04-14
   status Pending 260-char remark

   Show marketing remark (260 chars)

   Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

2. 2026-04-14
   status Pending

   Show marketing remark (260 chars)

   Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

3. 2026-04-08
   price $19,900 260-char remark

   Show marketing remark (260 chars)

   Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

4. 2026-04-08
   price $19,900

   Show marketing remark (260 chars)

   Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

5. 2026-04-05
   price $20,500 260-char remark

   Show marketing remark (260 chars)

   Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

6. 2026-04-05
   price $20,500

   Show marketing remark (260 chars)

   Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

7. 2026-03-27
   price $21,000 260-char remark

   Show marketing remark (260 chars)

   Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

8. 2026-03-27
   price $21,000

   Show marketing remark (260 chars)

   Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

9. 2026-03-25
   price $22,500 260-char remark

   Show marketing remark (260 chars)

   Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

10. 2026-03-25
    price $22,500

    Show marketing remark (260 chars)

    Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

11. 2026-03-18
    price $24,999 260-char remark

    Show marketing remark (260 chars)

    Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

12. 2026-03-18
    price $24,999

    Show marketing remark (260 chars)

    Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

13. 2026-03-12
    listed $28,000 Active 260-char remark

    Show marketing remark (260 chars)

    Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

14. 2026-03-12
    listed $28,000 Active

    Show marketing remark (260 chars)

    Good bones on this house, interior needs a refresh and bathroom needs a new subfloor due to lack of shower curtain from tub, was not a roof leak . New Furnace and Water heater. Comes with additional adjoined lot ATHERTON PARK LOT 47. Agent owned 24 hour notice

15. 2022-08-06
    historical
16. 2022-08-05
    historical
17. 2022-05-01
    price $45,000
18. 2022-05-01
    listed $39,999 Active
19. 2022-05-01
    listed $45,000 Active
20. 2021-05-07
    historical
21. 2021-05-07
    historical
22. 2021-05-04
    listed $35,000 Active
23. 2021-05-04
    listed $35,000 Active
24. 2017-11-08
    soldstatus $7,000
25. 2017-09-21
    soldstatus $7,000
26. 2017-09-21
    soldstatus $7,000 Closed
27. 2017-08-29
    status Pending
28. 2017-07-27
    price $8,000
29. 2017-07-21
    listed $5,000 Active
30. 2017-07-21
    listed $8,000

ⓘ 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: $722 · $60/mo
• Projected year-2 tax: $722 · $60/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: $10,716
• − Mortgage interest: −$1,115
• − Property taxes: −$722
• − Insurance: −$100
• − Repairs & maintenance: −$857
• − Management: −$857
• − Depreciation: −$579
• Taxable income: $6,486
• Est. tax owed @ 24.0%: −$1,557
• After-tax cash flow: $4,835/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

+148.8% since first listed

30 events — show timeline

• 2026-04-14 Pending — MiRealSource-MiMLS
• 2026-04-14 Pending — REALCOMP
• 2026-04-08 Price Changed $19,900 MiRealSource-MiMLS
• 2026-04-08 Price Changed $19,900 REALCOMP
• 2026-04-05 Price Changed $20,500 MiRealSource-MiMLS
• 2026-04-05 Price Changed $20,500 REALCOMP
• 2026-03-27 Price Changed $21,000 MiRealSource-MiMLS
• 2026-03-27 Price Changed $21,000 REALCOMP
• 2026-03-25 Price Changed $22,500 MiRealSource-MiMLS
• 2026-03-25 Price Changed $22,500 REALCOMP
• 2026-03-18 Price Changed $24,999 MiRealSource-MiMLS
• 2026-03-18 Price Changed $24,999 REALCOMP
• 2026-03-12 Listed $28,000 REALCOMP
• 2026-03-12 Listed $28,000 MiRealSource-MiMLS
• 2022-08-06 Listing Removed — REALCOMP
• 2022-08-05 Listing Removed — MiRealSource-MiMLS
• 2022-05-01 Price Changed $45,000 REALCOMP
• 2022-05-01 Listed $45,000 MiRealSource-MiMLS
• 2022-05-01 Listed $39,999 REALCOMP
• 2021-05-07 Listing Removed — REALCOMP
• 2021-05-07 Listing Removed — MiRealSource-MiMLS
• 2021-05-04 Listed $35,000 MiRealSource-MiMLS
• 2021-05-04 Listed $35,000 REALCOMP
• 2017-11-08 Sold (Public Records) $7,000 Public Records
• 2017-09-21 Sold (MLS) $7,000 MiRealSource-MiMLS
• 2017-09-21 Sold (MLS) $7,000 REALCOMP
• 2017-08-29 Pending — MiRealSource-MiMLS
• 2017-07-27 Price Changed $8,000 MiRealSource-MiMLS
• 2017-07-21 Listed $5,000 MiRealSource-MiMLS
• 2017-07-21 Listed $8,000 REALCOMP

Property tax history

+2.5%/yr

Latest (2025): $722 · +1.4% YoY. Source: county tax records.