1453 Carman St · Burton, MI 48529

$68,900

2 bd · 1.0 ba · 780 sqft · SingleFamily · 606 Days on market

Built 1947 4,356 sqft lot $88/sqft · 19% below area Est $85k · 19% under

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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 +25.7/30.0
• ARV discount +15.0/15.0
• 1% rule +8.6/10.0
• DSCR +8.6/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom, 1 bath Cape Cod in Burton. Buyers agent to verify all information in this listing.

Key facts

• Burton location
• 4,356 sq ft lot
• Built 1947

Tags

• BURTON LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($936 rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.8% in Burton — 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 61/100 on livability (#555 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Bendle Public Schools (suburban): math 6% / reading 29% proficiency, ranked #487 of 540 in MI (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bendle Middle School (math 5% / reading 27%, grade F, #447 of 493 statewide, top 91%, 230 students, 91% FRL); Bendle High School (math 5% / reading 34%, grade F, #611 of 713 statewide, top 87%, 317 students, 90% FRL).
• Market conditions: 53 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $476 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 606 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 22y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,632 (12.0% below list)

Questions for the listing agent

1. It's been on market 606 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 1947 — 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. 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: 1.36% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.24%
• DSCR: 1.46
• GRM: 6.1

CMA / ARV

• ARV (median comp): $85,021
• List price: $68,900
• Delta: -18.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1409 James St	0.13mi	2/1.0	818 (+5%)	3mo	$76,000	$93	83
1475 Wells St	0.06mi	2/1.0	723 (-7%)	2mo	$89,900	$124	83
1325 Norton St	0.27mi	2/1.0	792 (+2%)	6mo	$64,900	$82	80
1388 Carman St	0.12mi	2/1.0	723 (-7%)	3mo	$84,650	$117	80
2098 E Scottwood Ave	0.63mi	2/1.0	768 (-2%)	2mo	$115,900	$151	67
1233 Carman St	0.42mi	2/1.0	720 (-8%)	2mo	$82,500	$115	66
2068 E Boatfield Ave	0.48mi	2/1.0	875 (+12%)	2mo	$100,000	$114	56
2220 E Bergin Ave	0.72mi	2/1.0	744 (-5%)	6mo	$80,000	$108	54
530 Mckeighan Ave	0.71mi	2/1.0	718 (-8%)	2mo	$90,000	$125	53
3517 Fern Ave	0.69mi	2/1.0	680 (-13%)	0mo	$98,000	$144	46
1169 Carman St	0.54mi	3/1.0 (+1)	680 (-13%)	5mo	$85,900	$126	44
2291 Kenneth St	0.71mi	1/1.0 (-1)	674 (-14%)	1mo	$23,500	$35	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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-602
• Equity at exit: $10,273

10-year hold

• IRR: 8.9%
• Equity multiple: 1.69×
• Total profit: $13,284
• Equity at exit: $5,957

Cash invested: $19,292 (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 48529

• Home prices YoY: -26.5%
• Active inventory: 53
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $936 high
• Mortgage (P&I): −$361
• Tax from tax record: −$185 /mo · $2,219/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $165

Break-even live

Break-even rent $728

Max offer price $68,900

Occupancy floor 77%

Sensitivity live

Price	-10% $204	-5% $184	+0% $165	+5% $145	+10% $126
Rent	-10% $91	-5% $128	+0% $165	+5% $202	+10% $239
Rate	-1.0pp $199	-0.5pp $182	base $165	+0.5pp $147	+1.0pp $129

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: $17,225
• Closing costs: $2,067
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2266 Donovan St Burton, MI	2.0	1.0	700	$800	$1.14	15d	1	0.66mi
4400 Kings Ln Burton, MI	1.0–2.0	1.0–2.0	666	$960	$1.44	15d	19	0.66mi
3291 Glengary St Burton, MI	2.0	1.0	972	$1,075	$1.11	45d	1	0.76mi
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	15d	1	0.83mi
1034 McKeighan Ave Flint, MI	3.0	1.0	1040	$1,250	$1.20	22d	1	1.07mi
1426 Pettibone Ave Flint, MI	2.0	1.0	750	$900	$1.20	22d	1	1.46mi
1023 Barrie Ave Flint, MI	2.0	1.0	660	$775	$1.17	22d	1	1.47mi

Listing history 50 events

1. 2026-06-18
   days on market $68,900 Active 606 DOM
2. 2026-06-17
   days on market $68,900 Active 605 DOM
3. 2026-06-16
   days on market $68,900 Active 604 DOM
4. 2026-06-15
   days on market $68,900 Active 603 DOM
5. 2026-06-14
   days on market $68,900 Active 601 DOM
6. 2026-06-13
   days on market $68,900 Active 600 DOM
7. 2026-06-10
   days on market $68,900 Active 598 DOM
8. 2026-06-09
   days on market $68,900 Active 597 DOM
9. 2026-06-08
   days on market $68,900 Active 596 DOM
10. 2026-06-07
    days on market $68,900 Active 595 DOM
11. 2026-06-05
    days on market $68,900 Active 592 DOM
12. 2026-06-03
    days on market $68,900 Active 591 DOM
13. 2026-06-02
    remarks 125-char remark
14. 2026-06-02
    days on market $68,900 Active 590 DOM
15. 2026-06-01
    days on market $68,900 Active 589 DOM
16. 2026-05-31
    days on market $68,900 Active 588 DOM
17. 2026-05-30
    days on market $68,900 Active 587 DOM
18. 2026-05-01
    status Active 93-char remark

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    2 bedroom, 1 bath Cape Cod in Burton. Buyers agent to verify all information in this listing.

19. 2026-05-01
    status Active 93-char remark

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    2 bedroom, 1 bath Cape Cod in Burton. Buyers agent to verify all information in this listing.

20. 2026-05-01
    historical 93-char remark

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21. 2026-05-01
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22. 2025-10-10
    status Active 93-char remark

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23. 2025-10-10
    status Active 93-char remark

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24. 2025-10-01
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25. 2025-10-01
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26. 2025-05-29
    status Active 93-char remark

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27. 2025-05-29
    status Back on Market 93-char remark

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28. 2025-05-21
    status Pending 93-char remark

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29. 2025-05-21
    historical 93-char remark

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30. 2025-04-25
    status Pending 93-char remark

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31. 2025-04-25
    status Pending 93-char remark

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    2 bedroom, 1 bath Cape Cod in Burton. Buyers agent to verify all information in this listing.

32. 2025-04-22
    status Active 93-char remark

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    2 bedroom, 1 bath Cape Cod in Burton. Buyers agent to verify all information in this listing.

33. 2025-04-22
    historical 93-char remark

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    2 bedroom, 1 bath Cape Cod in Burton. Buyers agent to verify all information in this listing.

34. 2025-03-04
    status Active 93-char remark

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    2 bedroom, 1 bath Cape Cod in Burton. Buyers agent to verify all information in this listing.

35. 2025-03-04
    status Active 93-char remark

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    2 bedroom, 1 bath Cape Cod in Burton. Buyers agent to verify all information in this listing.

36. 2025-03-01
    historical 93-char remark

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    2 bedroom, 1 bath Cape Cod in Burton. Buyers agent to verify all information in this listing.

37. 2025-03-01
    historical 93-char remark

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38. 2024-10-29
    price $68,900 93-char remark

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39. 2024-10-28
    price $68,900 93-char remark

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40. 2024-10-16
    price $71,900 93-char remark

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41. 2024-10-16
    price $71,900 93-char remark

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42. 2024-09-05
    listed $79,000 Active 93-char remark

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43. 2024-09-05
    listed $79,000 Active 93-char remark

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44. 2019-10-16
    soldstatus $498,200
45. 2018-05-25
    soldstatus $29,900 Sold
46. 2018-05-25
    soldstatus $29,900 Closed
47. 2018-05-21
    status Pending
48. 2018-05-21
    status Pending
49. 2018-05-11
    listed $29,900 Active
50. 2018-05-11
    listed $29,900 Active

ⓘ 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: $2,219 · $185/mo
• Projected year-2 tax: $2,219 · $185/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: $11,235
• − Mortgage interest: −$3,859
• − Property taxes: −$2,219
• − Insurance: −$344
• − Repairs & maintenance: −$899
• − Management: −$899
• − Depreciation: −$2,004
• Taxable income: $1,010
• Est. tax owed @ 24.0%: −$242
• After-tax cash flow: $1,734/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: Bendle Public Schools
• NCES district ID: 2604740
• Math proficiency: 6% ▼ -7.00%
• Reading proficiency: 29% ▼ -1.00%
• Median HH income: $35,492
• Composite: 14.36/100
• National rank: #9438
• State rank: #487 of 540 in MI

Livability — Burton

• Score: 61/100
• State rank: #555
• US rank: #17380

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety F User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burton, MI
• City population: 26,014
• Population (ZIP): 8,959

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 (82%)
• Race & ethnicity: White 82% Black 9% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 4%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -82.30%
• Current HPI: 228.5338
• 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

+1.5% since first listed

53 events — show timeline

• 2026-05-01 Relisted — REALCOMP
• 2026-05-01 Relisted — MiRealSource-MiMLS
• 2026-05-01 Listing Removed — MiRealSource-MiMLS
• 2026-05-01 Listing Removed — REALCOMP
• 2025-10-10 Relisted — REALCOMP
• 2025-10-10 Relisted — MiRealSource-MiMLS
• 2025-10-01 Listing Removed — MiRealSource-MiMLS
• 2025-10-01 Listing Removed — REALCOMP
• 2025-05-29 Relisted — REALCOMP
• 2025-05-29 Relisted — MiRealSource-MiMLS
• 2025-05-21 Pending — REALCOMP
• 2025-05-21 Listing Removed — REALCOMP
• 2025-04-25 Pending — REALCOMP
• 2025-04-25 Pending — MiRealSource-MiMLS
• 2025-04-22 Relisted — REALCOMP
• 2025-04-22 Listing Removed — REALCOMP
• 2025-03-04 Relisted — REALCOMP
• 2025-03-04 Relisted — MiRealSource-MiMLS
• 2025-03-01 Listing Removed — REALCOMP
• 2025-03-01 Listing Removed — MiRealSource-MiMLS
• 2024-10-29 Price Changed $68,900 MiRealSource-MiMLS
• 2024-10-28 Price Changed $68,900 REALCOMP
• 2024-10-16 Price Changed $71,900 MiRealSource-MiMLS
• 2024-10-16 Price Changed $71,900 REALCOMP
• 2024-09-05 Listed $79,000 MiRealSource-MiMLS
• 2024-09-05 Listed $79,000 REALCOMP
• 2019-10-16 Sold (Public Records) $498,200 Public Records
• 2018-05-25 Sold (MLS) $29,900 MiRealSource-MiMLS
• 2018-05-25 Sold (MLS) $29,900 REALCOMP
• 2018-05-21 Pending — MiRealSource-MiMLS
• 2018-05-21 Pending — REALCOMP
• 2018-05-11 Listed $29,900 MiRealSource-MiMLS
• 2018-05-11 Listed $29,900 REALCOMP
• 2013-10-01 Listing Removed — REALCOMP
• 2013-09-30 Listing Removed — MiRealSource-MiMLS
• 2013-04-22 Listed $19,900 MiRealSource-MiMLS
• 2013-04-22 Listed $19,900 REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2008-10-27 Sold (MLS) $14,000 REALCOMP
• 2008-10-27 Sold (MLS) $14,000 MiRealSource-MiMLS
• 2008-10-06 Listing Removed — MiRealSource-MiMLS
• 2008-09-25 Listed $14,900 REALCOMP
• 2008-09-25 Listed $14,900 MiRealSource-MiMLS
• 2005-07-19 Sold (MLS) $63,900 REALCOMP
• 2005-07-19 Sold (MLS) $63,900 REALCOMP
• 2005-07-19 Sold (MLS) $63,900 MiRealSource-MiMLS
• 2005-06-09 Listing Removed — MiRealSource-MiMLS
• 2005-05-24 Listed $61,900 REALCOMP
• 2005-05-24 Listed $61,900 MiRealSource-MiMLS
• 2005-05-23 Listed $61,900 REALCOMP
• 2004-05-28 Listing Removed — MiRealSource-MiMLS
• 2004-05-28 Listed $67,900 MiRealSource-MiMLS
• 2004-05-28 Listed $67,900 REALCOMP

Property tax history

+9.6%/yr

Latest (2025): $2,219 · +2.7% YoY. Source: county tax records.