258 E Hobson Ave · Flint, MI 48505

$49,900

3 bd · 2.0 ba · 885 sqft · SingleFamily public records · 31 Days on market

Built 1955 5,227 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Welcome to this charming ranch-style home located in the heart of Flint! Featuring 3 spacious bedrooms and 2 full bathrooms, this home offers over 1,000 square feet of comfortable living space with a functional layout perfect for homeowners or investors alike. The property includes a full basement, attached 2-car garage, and a fenced yard ideal for pets, entertaining, or added privacy. Built in 1955, this home combines classic character with solid potential. Conveniently located near schools, shopping, dining, and major roadways, this property is a great opportunity to add your personal touch or expand your investment portfolio.

Key facts

• Fenced yard
• Attached garage
• Ranch style home

Tags

• RANCH STYLE HOME
• FULL BASEMENT
• FENCED YARD
• ATTACHED GARAGE
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Located in the SUBURBAN GARDENS subdivision; use GPS for directions (cross street: Harvard St)

Exterior

• Parking: Detached 2-car garage
• Utilities: Water available; Sewer available
• Home design: Single-family residence; One level with ground-level entry
• Construction: Vinyl siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.12 acres (50 x 105)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($999 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.3% 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: 99 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• This rent runs 36% of the median local income ($33k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $2k of equity ($345 loan paydown + $1k appreciation (2.7% local appreciation)).
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $50k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.00% ✓
• Cap rate: 17.34%
• Cash-on-cash: 39.47%
• DSCR: 2.76
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $23,895
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
626 W Austin Ave	0.62mi	3/1.5	869 (-2%)	1mo	$34,000	$39	65
402 W Gracelawn Ave	0.40mi	2/1.0 (-1)	864 (-2%)	8mo	$4,669	$5	62
306 W Parkway Ave	0.40mi	2/1.0 (-1)	918 (+4%)	8mo	$14,900	$16	60
302 W Gracelawn Ave	0.36mi	2/1.0 (-1)	832 (-6%)	8mo	$16,000	$19	57
329 W Pulaski Ave	0.56mi	3/1.0	923 (+4%)	9mo	$31,000	$34	55
618 E Pulaski Ave	0.50mi	2/1.0 (-1)	836 (-6%)	5mo	$24,000	$29	54
638 W Pulaski Ave	0.72mi	3/1.0	870 (-2%)	9mo	$13,000	$15	52
246 E York St	0.51mi	2/1.0 (-1)	800 (-10%)	1mo	$22,500	$28	50
518 W Ruth Ave	0.56mi	2/1.0 (-1)	816 (-8%)	3mo	$28,000	$34	50
309 W Ruth Ave	0.44mi	2/1.0 (-1)	1,008 (+14%)	0mo	$27,000	$27	47
5909 Edwards Ave	0.71mi	3/1.0	936 (+6%)	10mo	$20,600	$22	45
521 E Marengo Ave	0.51mi	2/1.0 (-1)	779 (-12%)	8mo	$20,000	$26	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.5%
• Equity multiple: 3.46×
• Total profit: $34,428
• Equity at exit: $21,527

10-year hold

• IRR: 44.6%
• Equity multiple: 6.91×
• Total profit: $82,638
• Equity at exit: $32,485

Cash invested: $13,972 (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 48505

• Home prices YoY: 1.3%
• Active inventory: 99
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $999 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$47 /mo · $566/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $460

Break-even live

Break-even rent $417

Max offer price $49,900

Occupancy floor 49%

Sensitivity live

Price	-10% $488	-5% $474	+0% $460	+5% $445	+10% $431
Rent	-10% $381	-5% $420	+0% $460	+5% $499	+10% $538
Rate	-1.0pp $485	-0.5pp $472	base $460	+0.5pp $447	+1.0pp $433

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
246 E York Ave Flint, MI	2.0	1.0	800	$895	$1.12	14d	1	0.53mi
5413 DuPont St Flint, MI	4.0	1.5	1038	$900	$0.87	21d	1	0.65mi
514 W Alma Ave Flint, MI	3.0	1.0	894	$925	$1.03	14d	1	0.67mi
5905 Griggs Dr Flint, MI	3.0	1.0	940	$1,000	$1.06	14d	1	1.26mi

Listing history 24 events

1. 2026-06-18
   days on market $49,900 Active 31 DOM
2. 2026-06-17
   days on market $49,900 Active 30 DOM
3. 2026-06-16
   days on market $49,900 Active 29 DOM
4. 2026-06-15
   days on market $49,900 Active 28 DOM
5. 2026-06-14
   days on market $49,900 Active 26 DOM
6. 2026-06-13
   days on market $49,900 Active 25 DOM
7. 2026-06-10
   days on market $49,900 Active 23 DOM
8. 2026-06-09
   days on market $49,900 Active 22 DOM
9. 2026-06-08
   days on market $49,900 Active 21 DOM
10. 2026-06-07
    days on market $49,900 Active 20 DOM
11. 2026-06-05
    days on market $49,900 Active 17 DOM
12. 2026-06-03
    days on market $49,900 Active 16 DOM
13. 2026-06-02
    days on market $49,900 Active 15 DOM
14. 2026-06-01
    pricedays on market $49,900 Active 14 DOM
15. 2026-05-31
    days on market $59,900 Active 13 DOM
16. 2026-05-30
    days on market $59,900 Active 12 DOM
17. 2026-05-18
    listed $59,900 Active 636-char remark

    Show marketing remark (636 chars)

    Welcome to this charming ranch-style home located in the heart of Flint! Featuring 3 spacious bedrooms and 2 full bathrooms, this home offers over 1,000 square feet of comfortable living space with a functional layout perfect for homeowners or investors alike. The property includes a full basement, attached 2-car garage, and a fenced yard ideal for pets, entertaining, or added privacy. Built in 1955, this home combines classic character with solid potential. Conveniently located near schools, shopping, dining, and major roadways, this property is a great opportunity to add your personal touch or expand your investment portfolio.

18. 2026-05-18
    listed $59,900 Active

    Show marketing remark (636 chars)

    Welcome to this charming ranch-style home located in the heart of Flint! Featuring 3 spacious bedrooms and 2 full bathrooms, this home offers over 1,000 square feet of comfortable living space with a functional layout perfect for homeowners or investors alike. The property includes a full basement, attached 2-car garage, and a fenced yard ideal for pets, entertaining, or added privacy. Built in 1955, this home combines classic character with solid potential. Conveniently located near schools, shopping, dining, and major roadways, this property is a great opportunity to add your personal touch or expand your investment portfolio.

19. 2025-10-23
    soldstatus $20,001 Closed 98-char remark

    Show marketing remark (98 chars)

    HUD HOME - Ranch with 3 bedrooms, 2 full baths, basement, garage & located on a fenced yard.

20. 2025-10-23
    soldstatus $20,001 Closed

    Show marketing remark (98 chars)

    HUD HOME - Ranch with 3 bedrooms, 2 full baths, basement, garage & located on a fenced yard.

21. 2025-09-05
    status Pending 98-char remark

    Show marketing remark (98 chars)

    HUD HOME - Ranch with 3 bedrooms, 2 full baths, basement, garage & located on a fenced yard.

22. 2025-09-05
    status Pending

    Show marketing remark (98 chars)

    HUD HOME - Ranch with 3 bedrooms, 2 full baths, basement, garage & located on a fenced yard.

23. 2025-08-14
    listed $10,000 Active 98-char remark

    Show marketing remark (98 chars)

    HUD HOME - Ranch with 3 bedrooms, 2 full baths, basement, garage & located on a fenced yard.

24. 2025-08-14
    listed $10,000 Active

    Show marketing remark (98 chars)

    HUD HOME - Ranch with 3 bedrooms, 2 full baths, basement, garage & located on a fenced yard.

ⓘ 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: $566 · $47/mo
• Projected year-2 tax: $667 · $56/mo
• Expected delta: +$101/yr (+$8/mo · 17.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $11,988
• − Mortgage interest: −$2,795
• − Property taxes: −$566
• − Insurance: −$250
• − Repairs & maintenance: −$959
• − Management: −$959
• − Depreciation: −$1,452
• Taxable income: $5,007
• Est. tax owed @ 24.0%: −$1,202
• After-tax cash flow: $4,312/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): 18,032
• Household income: $33,283
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 960.0

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: Predominantly Black (79%)
• Race & ethnicity: Black 79% White 11% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 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: ▲ 2.67%
• Current HPI: 202.4878
• Rent YoY: —
• 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

+499.0% since first listed

8 events — show timeline

• 2026-05-18 Listed $59,900 REALCOMP
• 2026-05-18 Listed $59,900 MiRealSource-MiMLS
• 2025-10-23 Sold (MLS) $20,001 REALCOMP
• 2025-10-23 Sold (MLS) $20,001 MiRealSource-MiMLS
• 2025-09-05 Pending — MiRealSource-MiMLS
• 2025-09-05 Pending — REALCOMP
• 2025-08-14 Listed $10,000 REALCOMP
• 2025-08-14 Listed $10,000 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $566 · +1.2% YoY. Source: county tax records.