7423 Roger Thomas #4 Dr · Flint, MI 48458

$695

1 bd · 1.0 ba · 540 sqft · SingleFamily · 24 Days on market

Built 1967

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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 +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

If you want income property then be sure to take a look at this multi-family property. There are 7 buildings available $50,000 each. Check the MLS for the other 6 properties. There is a storage closet for each apt. & laundry area to share on the lower level. You might want to live in 1 apt & rent out the other 3 to help with that mortgage payment. Work is needed but a great investment opportunity & a great price. Buyer & buyers agent to verify all information & measurements

Key facts

• Built 1967
• Listed 24 days

Property features AI

Exterior

• Utilities: Shared septic sewer
• Home design: One-story multi-family residential income property
• Construction: Above-grade finished area approximately 540 (square feet)
• Exterior features: Lot in Genesee Estates Subdivision; Lot size: 18,731 (dimensions)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Electric heating; Separate meters for heating; Wall/window air conditioning
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $695.

Deal economics

• At list price, monthly cash flow is $659 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($840 rent vs $695).
• Recommended offer: $684 (1.6% below list) — sets the bar for market timing.
• Cap rate 1144.2% vs local median 11.6% 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: crime F, employment F.
• Genesee School District (suburban): math 14% / reading 28% proficiency, ranked #464 of 540 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Haas Elementary School (math 12% / reading 17%, grade F, #1,185 of 1,397 statewide, top 86%, 389 students, 86% FRL); Genesee High School (math 12% / reading 47%, grade F, #441 of 713 statewide, top 64%, 342 students, 90% FRL) — zoned schools average 88% FRL vs 63% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 144 active listings in the ZIP; 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 $5 of loan paydown is wiped out by about $21 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 $195 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($684) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $684 (1.6% below list)

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 120.90% ✓
• Cap rate: 1144.15%
• Cash-on-cash: 4063.78%
• DSCR: 181.82
• GRM: 0.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 216.17×
• Total profit: $41,873
• Equity at exit: $104

10-year hold

• IRR: —
• Equity multiple: 466.37×
• Total profit: $90,560
• Equity at exit: $60

Cash invested: $195 (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 48458

• Home prices YoY: -16.0%
• Active inventory: 144
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $840 medium
• Mortgage (P&I): −$4
• Tax est. 1.5%: −$1 /mo · $10/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$176
• Net cashflow: $659

Break-even live

Break-even rent $6

Max offer price $695

Occupancy floor 17%

Sensitivity live

Price	-10% $659	-5% $659	+0% $659	+5% $659	+10% $659
Rent	-10% $593	-5% $626	+0% $659	+5% $692	+10% $725
Rate	-1.0pp $659	-0.5pp $659	base $659	+0.5pp $659	+1.0pp $659

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: $174
• Closing costs: $21
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-21
   days on market $695 Active 24 DOM
2. 2026-06-18
   days on market $695 Active 21 DOM
3. 2026-06-17
   days on market $695 Active 20 DOM
4. 2026-06-16
   days on market $695 Active 19 DOM
5. 2026-06-15
   days on market $695 Active 18 DOM
6. 2026-06-14
   days on market $695 Active 16 DOM
7. 2026-06-13
   days on market $695 Active 15 DOM
8. 2026-06-10
   days on market $695 Active 13 DOM
9. 2026-06-09
   days on market $695 Active 12 DOM
10. 2026-06-08
    days on market $695 Active 11 DOM
11. 2026-06-07
    days on market $695 Active 10 DOM
12. 2026-06-02
    days on market $695 Active 5 DOM
13. 2026-06-01
    days on market $695 Active 4 DOM
14. 2026-05-31
    days on market $695 Active 3 DOM
15. 2026-05-30
    days on market $695 Active 2 DOM
16. 2026-05-28
    listed $695 Active
17. 2024-02-26
    historical
18. 2023-11-02
    listed $575
19. 2015-05-05
    soldstatus $600,000
20. 2015-05-05
    soldstatus $860,000
21. 2010-12-13
    soldstatus $120,000
22. 2010-09-20
    soldstatus $17,142 507-char remark

    Show marketing remark (507 chars)

    If you want income property then be sure to take a look at this multi-family property. There are 7 buildings available $50,000 each. Check the MLS for the other 6 properties. There is a storage closet for each apt. & laundry area to share on the lower level. You might want to live in 1 apt & rent out the other 3 to help with that mortgage payment. Work is needed but a great investment opportunity & a great price. Buyer & buyers agent to verify all information & measurements

23. 2010-06-25
    historical 507-char remark

    Show marketing remark (507 chars)

    If you want income property then be sure to take a look at this multi-family property. There are 7 buildings available $50,000 each. Check the MLS for the other 6 properties. There is a storage closet for each apt. & laundry area to share on the lower level. You might want to live in 1 apt & rent out the other 3 to help with that mortgage payment. Work is needed but a great investment opportunity & a great price. Buyer & buyers agent to verify all information & measurements

24. 2010-01-12
    listed $35,000 507-char remark

    Show marketing remark (507 chars)

    If you want income property then be sure to take a look at this multi-family property. There are 7 buildings available $50,000 each. Check the MLS for the other 6 properties. There is a storage closet for each apt. & laundry area to share on the lower level. You might want to live in 1 apt & rent out the other 3 to help with that mortgage payment. Work is needed but a great investment opportunity & a great price. Buyer & buyers agent to verify all information & measurements

25. 2009-10-08
    historical
26. 2009-10-08
    historical
27. 2009-10-07
    listed $300,000
28. 2009-10-07
    listed $300,000
29. 2004-07-21
    soldstatus $725,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,083
• − Mortgage interest: −$39
• − Property taxes: −$10
• − Insurance: −$3
• − Repairs & maintenance: −$807
• − Management: −$807
• − Depreciation: −$20
• Taxable income: $8,397
• Est. tax owed @ 24.0%: −$2,015
• After-tax cash flow: $5,893/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: Genesee School District
• NCES district ID: 2615750
• Math proficiency: 14% ▼ -14.00%
• Reading proficiency: 28% ▼ -11.00%
• Median HH income: $37,596
• Composite: 17.51/100
• National rank: #9052
• State rank: #464 of 540 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

• County: Genesee County · 221,329 people
• City population: 93,814
• Metro: Flint, MI
• Population (ZIP): 19,519
• Household income: $46,797
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 724.0

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 White (66%)
• Race & ethnicity: White 66% Black 22% Two or more races 7% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 5% Romanian 3% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% 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: ▼ -46.45%
• Current HPI: 244.2061
• 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

+18.6% since first listed

14 events — show timeline

• 2026-05-28 Listed $695 REALCOMP
• 2024-02-26 Listing Removed — REALCOMP
• 2023-11-02 Listed $575 REALCOMP
• 2015-05-05 Sold (Public Records) $860,000 Public Records
• 2015-05-05 Sold (Public Records) $600,000 Public Records
• 2010-12-13 Sold (Public Records) $120,000 Public Records
• 2010-09-20 Sold (MLS) $17,142 MiRealSource-MiMLS
• 2010-06-25 Listing Removed — MiRealSource-MiMLS
• 2010-01-12 Listed $35,000 MiRealSource-MiMLS
• 2009-10-08 Listing Removed — REALCOMP
• 2009-10-08 Listing Removed — MiRealSource-MiMLS
• 2009-10-07 Listed $300,000 REALCOMP
• 2009-10-07 Listed $300,000 MiRealSource-MiMLS
• 2004-07-21 Sold (Public Records) $725,000 Public Records

Property tax history

+3.7%/yr

Latest (2025): $6,016 · +0.5% YoY. Source: county tax records.