2624 Prospect St · Flint, MI 48504

$22,999

3 bd · 1.0 ba · 1,021 sqft · SingleFamily public records · 14 Days on market

Built 1951 4,356 sqft lot Est $41k · 44% under ↓ 37% since listing

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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 +15.0/15.0
• 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 +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR ALERT! Outstanding value-add opportunity with strong upside potential. This 3-bedroom home experienced a small fire event primarily affecting portions of the second floor and will require repairs and renovation, making it an ideal project for investors, contractors, and rehabbers looking to capitalize on a discounted acquisition. The property offers a solid footprint and excellent potential for a fix-and-flip, long-term rental, or buy-and-hold investment strategy. Conveniently located near major roadways, shopping, schools, parks, restaurants, and everyday amenities, the location supports strong rental demand and future resale appeal. With the right improvements, this property presents a significant opportunity to create value and build equity. Bring your vision and transform this home into a profitable investment. Property is being sold as-is. Buyer to verify all information, measurements, condition, and future use. Exercise caution when touring the property. Novation: Buyer has equitable interest in the property and is marketing the property with the owner's authorization in order to locate a new buyer.

Key facts

• 4,356 sq ft lot
• Built 1951
• Listed 14 days

Property features AI

Finance

• Other: Located in the HOMESITE SUB subdivision

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Vinyl siding exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot approximately 0.1 acres (45 x 100)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Basement present; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $23k.

Deal economics

• At list price, monthly cash flow is $667 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $23k).
• Cap rate 41.1% 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: 131 active listings in the ZIP; 9 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 $159 of loan paydown is wiped out by about $690 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $2k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,999

Questions for the listing agent

1. Built in 1951 — 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: 4.55% ✓
• Cap rate: 41.12%
• Cash-on-cash: 124.38%
• DSCR: 6.53
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $40,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2622 Concord St	0.20mi	3/1.0	939 (-8%)	1mo	$7,000	$7	76
2602 Sloan St	0.31mi	3/1.0	955 (-6%)	2mo	$25,000	$26	73
2915 Berkley St	0.33mi	2/1.0 (-1)	987 (-3%)	4mo	$27,500	$28	71
2038 Copeman Blvd	0.54mi	3/1.0	1,077 (+6%)	0mo	$67,000	$62	65
1271 Donaldson Blvd	0.59mi	3/1.0	926 (-9%)	0mo	$126,500	$137	56
2101 Barth St	0.43mi	2/1.0 (-1)	905 (-11%)	4mo	$33,000	$36	52
2448 Thomas St	0.72mi	3/1.0	956 (-6%)	5mo	$107,000	$112	51
2551 Altoona St	0.61mi	2/1.0 (-1)	1,114 (+9%)	0mo	$45,000	$40	51
971 N Chevrolet Ave	0.66mi	3/1.0	1,122 (+10%)	4mo	$79,900	$71	49
3210 Emerson St	0.70mi	3/1.5	1,120 (+10%)	0mo	$86,500	$77	49
1930 Concord St	0.53mi	2/1.0 (-1)	900 (-12%)	2mo	$30,000	$33	49
1702 Stevenson St	0.67mi	3/1.0	1,120 (+10%)	5mo	$17,500	$16	48

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: —
• Equity multiple: 7.03×
• Total profit: $38,800
• Equity at exit: $3,429

10-year hold

• IRR: —
• Equity multiple: 14.76×
• Total profit: $88,590
• Equity at exit: $1,989

Cash invested: $6,440 (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 48504

• Active inventory: 131
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,046 high
• Mortgage (P&I): −$121
• Tax est. 1.5%: −$29 /mo · $345/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $667

Break-even live

Break-even rent $201

Max offer price $22,999

Occupancy floor 31%

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: $5,750
• Closing costs: $690
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2544 Tyrone St Flint, MI	2.0	1.0	1440	$825	$0.57	13d	1	0.57mi
2428 Norbert St Flint, MI	3.0	1.0	1200	$1,250	$1.04	20d	1	0.70mi
314 Sheffield Ave Flint, MI	2.0	1.0	896	$1,250	$1.40	20d	1	1.08mi
1540 Garland St Flint, MI	3.0	2.5	1344	$1,017	$0.76	20d	1	1.08mi
3221 Burgess St Flint, MI	2.0	1.0	755	$875	$1.16	20d	1	1.20mi
3713 Gratiot Ave Flint, MI	4.0	1.0	1400	$1,400	$1.00	20d	1	1.26mi
711 W Dewey St Flint, MI	3.0	1.0	1011	$925	$0.91	20d	1	1.31mi
806 Barney Ave Flint, MI	2.0	1.0	1000	$1,000	$1.00	20d	1	1.46mi
3616 Concord St Unit CON3616 Flint, MI	3.0	2.0	960	$895	$0.93	43d	1	1.48mi

Listing history 12 events

1. 2026-06-18
   days on market $22,999 Active 14 DOM
2. 2026-06-17
   days on market $22,999 Active 13 DOM
3. 2026-06-16
   days on market $22,999 Active 12 DOM
4. 2026-06-15
   pricedays on market $22,999 Active 11 DOM
5. 2026-06-14
   days on market $24,999 Active 9 DOM
6. 2026-06-13
   days on market $24,999 Active 8 DOM
7. 2026-06-10
   days on market $24,999 Active 6 DOM
8. 2026-06-09
   days on market $24,999 Active 5 DOM
9. 2026-06-08
   days on market $24,999 Active 4 DOM
10. 2026-06-07
    days on market $24,999 Active 3 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $24,999 Active 1 DOM

ⓘ 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 ≥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: $12,553
• − Mortgage interest: −$1,288
• − Property taxes: −$345
• − Insurance: −$115
• − Repairs & maintenance: −$1,004
• − Management: −$1,004
• − Depreciation: −$669
• Taxable income: $8,127
• Est. tax owed @ 24.0%: −$1,951
• After-tax cash flow: $6,059/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
• City population: 93,814
• Population (ZIP): 23,873

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 (66%)
• Race & ethnicity: Black 66% White 24% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% 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: ▼ -101.67%
• Current HPI: 94.3111
• 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

-37.3% since first listed

14 events — show timeline

• 2026-06-02 Listed $24,999 MiRealSource-MiMLS
• 2026-06-02 Listed $24,999 REALCOMP
• 2023-07-12 Sold (MLS) $19,000 MiRealSource-MiMLS
• 2023-07-12 Sold (MLS) $19,000 REALCOMP
• 2023-07-05 Pending — MiRealSource-MiMLS
• 2023-07-05 Pending — REALCOMP
• 2023-06-27 Price Changed $20,000 MiRealSource-MiMLS
• 2023-06-27 Price Changed $20,000 REALCOMP
• 2023-06-06 Price Changed $29,900 MiRealSource-MiMLS
• 2023-06-05 Price Changed $29,900 REALCOMP
• 2023-05-16 Price Changed $34,900 MiRealSource-MiMLS
• 2023-05-16 Price Changed $34,900 REALCOMP
• 2023-04-12 Listed $39,900 MiRealSource-MiMLS
• 2023-04-12 Listed $39,900 REALCOMP

Property tax history

+6.2%/yr

Latest (2025): $1,390 · +1.8% YoY. Source: county tax records.