7423 Roger Thomas #4 Dr

Flint, MI 48458

$695D

1 bd · 1.0 ba · 540 sqft · Built 1967 · SingleFamily · Active · 24 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $840/mo
• Mortgage (P&I): −$4
• Tax + insurance: −$1
• HOA: −$0
• Vac / Maint / Mgmt: −$176
• Net cashflow: $659/mo
• Annual: $7,908/yr
• Cap rate: 1144.15%
• Cash-on-cash: 4063.78%
• DSCR: 181.82
• 1% rule: 120.90%
• Cash to close: $195

Investor read

• This is a 1-bed/1.0-bath single-family listed at $695.
• 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).
• It's been on market 24 days — a 2% lower offer ($684) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $684 (1.6% below list) — sets the bar for market timing.
• 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.
• 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).
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• 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.
• 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.

Questions for listing agent

• Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.
• 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.
• 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.