409 W Alma Ave · Flint, MI 48505

$46,900

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 61 Days on market

Built 1955 4,356 sqft lot ↓ 6% since listing

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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

A beautifully renovated home offering comfort, style, and great value. This property has been thoughtfully updated, making it an excellent opportunity for both homeowners and investors seeking a turnkey property. Inside, you'll find a refreshed interior featuring updated finishes, a functional layout, and bright living spaces filled with natural light. The home offers comfortable living areas and well-sized bedrooms, creating a welcoming and move-in ready environment. With renovations already completed, this property is ideal for a buyer looking for a low-maintenance home or an investor seeking an immediate rental opportunity. Conveniently located near schools, shopping, and major roadways, this home provides easy access to everyday amenities. Don't miss your chance to own a fully updated, move-in ready home at an affordable price.

Key facts

• 4,356 sq ft lot
• Built 1955
• Listed 60 days

Property features AI

Finance

• Other: Property type: Residential (Single Family Residence)
• Financial info: Annual tax amount: $758
• HOA & community: Subdivision: IRVINGTON

Exterior

• Parking: No garage
• Security: Not specified
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry
• Construction: Aluminum siding; Slab foundation; Built area above grade: 720 (square feet)
• Exterior features: Paved road access; Lot dimensions approximately 40 x 104 (0.1 acres)

Interior

• Kitchen: Not specified
• Bedrooms: Not specified
• Flooring: Not specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Two total rooms
• Laundry & utility: Not specified

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $47k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($917 rent vs $47k).
• Recommended offer: $44k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.4% 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: 100 active listings in the ZIP; lower-income renter base — watch delinquency; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• This rent runs 33% 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 ($324 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $3k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $44,086 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.96% ✓
• Cap rate: 16.37%
• Cash-on-cash: 35.99%
• DSCR: 2.60
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $20,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
242 E Foss Ave	0.38mi	2/1.0	692 (-4%)	6mo	$14,900	$22	71
1434 Knickerbocker Ave	0.31mi	2/1.0	800 (+11%)	0mo	$34,000	$43	67
518 W Ruth Ave	0.19mi	2/1.0	816 (+13%)	3mo	$28,000	$34	67
257 E Piper Ave	0.52mi	2/1.0	720 (0%)	13mo	$7,000	$10	65
246 E York St	0.38mi	2/1.0	800 (+11%)	1mo	$22,500	$28	63
414 E Lorado Ave	0.58mi	2/1.0	700 (-3%)	16mo	$12,700	$18	55
1153 W Juliah Ave	0.59mi	2/1.0	750 (+4%)	16mo	$23,500	$31	52
510 E Lorado Ave	0.63mi	2/1.0	763 (+6%)	13mo	$25,000	$33	50
421 E Home Ave	0.69mi	2/1.0	674 (-6%)	12mo	$13,000	$19	47
420 E Carpenter Rd	0.61mi	3/1.0 (+1)	780 (+8%)	15mo	$65,000	$83	40
1048 Tremont Ave	0.73mi	3/1.0 (+1)	792 (+10%)	9mo	$15,000	$19	36
1037 Tremont Ave	0.75mi	2/1.0	800 (+11%)	14mo	$15,000	$19	35

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: 41.1%
• Equity multiple: 3.28×
• Total profit: $29,950
• Equity at exit: $20,233

10-year hold

• IRR: 41.4%
• Equity multiple: 6.52×
• Total profit: $72,506
• Equity at exit: $30,532

Cash invested: $13,132 (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: 100
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $917 medium
• Mortgage (P&I): −$246
• Tax from tax record: −$65 /mo · $782/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $394

Break-even live

Break-even rent $419

Max offer price $46,900

Occupancy floor 52%

Sensitivity live

Price	-10% $420	-5% $407	+0% $394	+5% $381	+10% $367
Rent	-10% $321	-5% $358	+0% $394	+5% $430	+10% $466
Rate	-1.0pp $417	-0.5pp $406	base $394	+0.5pp $382	+1.0pp $369

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: $11,725
• Closing costs: $1,407
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $46,900 Active 61 DOM
2. 2026-06-18
   days on market $46,900 Active 58 DOM
3. 2026-06-18
   status $46,900 Active 57 DOM
4. 2026-06-07
   statusdays on market $46,900 Pending 57 DOM
5. 2026-06-05
   days on market $46,900 Active 55 DOM
6. 2026-06-03
   days on market $46,900 Active 54 DOM
7. 2026-06-02
   days on market $46,900 Active 53 DOM
8. 2026-06-01
   days on market $46,900 Active 52 DOM
9. 2026-05-31
   days on market $46,900 Active 51 DOM
10. 2026-05-30
    days on market $46,900 Active 50 DOM
11. 2026-05-22
    price $46,900 843-char remark

    Show marketing remark (843 chars)

    A beautifully renovated home offering comfort, style, and great value. This property has been thoughtfully updated, making it an excellent opportunity for both homeowners and investors seeking a turnkey property. Inside, you'll find a refreshed interior featuring updated finishes, a functional layout, and bright living spaces filled with natural light. The home offers comfortable living areas and well-sized bedrooms, creating a welcoming and move-in ready environment. With renovations already completed, this property is ideal for a buyer looking for a low-maintenance home or an investor seeking an immediate rental opportunity. Conveniently located near schools, shopping, and major roadways, this home provides easy access to everyday amenities. Don't miss your chance to own a fully updated, move-in ready home at an affordable price.

12. 2026-05-22
    price $46,900

    Show marketing remark (843 chars)

    A beautifully renovated home offering comfort, style, and great value. This property has been thoughtfully updated, making it an excellent opportunity for both homeowners and investors seeking a turnkey property. Inside, you'll find a refreshed interior featuring updated finishes, a functional layout, and bright living spaces filled with natural light. The home offers comfortable living areas and well-sized bedrooms, creating a welcoming and move-in ready environment. With renovations already completed, this property is ideal for a buyer looking for a low-maintenance home or an investor seeking an immediate rental opportunity. Conveniently located near schools, shopping, and major roadways, this home provides easy access to everyday amenities. Don't miss your chance to own a fully updated, move-in ready home at an affordable price.

13. 2026-04-27
    price $47,900 843-char remark

    Show marketing remark (843 chars)

    A beautifully renovated home offering comfort, style, and great value. This property has been thoughtfully updated, making it an excellent opportunity for both homeowners and investors seeking a turnkey property. Inside, you'll find a refreshed interior featuring updated finishes, a functional layout, and bright living spaces filled with natural light. The home offers comfortable living areas and well-sized bedrooms, creating a welcoming and move-in ready environment. With renovations already completed, this property is ideal for a buyer looking for a low-maintenance home or an investor seeking an immediate rental opportunity. Conveniently located near schools, shopping, and major roadways, this home provides easy access to everyday amenities. Don't miss your chance to own a fully updated, move-in ready home at an affordable price.

14. 2026-04-27
    price $47,900

    Show marketing remark (843 chars)

    A beautifully renovated home offering comfort, style, and great value. This property has been thoughtfully updated, making it an excellent opportunity for both homeowners and investors seeking a turnkey property. Inside, you'll find a refreshed interior featuring updated finishes, a functional layout, and bright living spaces filled with natural light. The home offers comfortable living areas and well-sized bedrooms, creating a welcoming and move-in ready environment. With renovations already completed, this property is ideal for a buyer looking for a low-maintenance home or an investor seeking an immediate rental opportunity. Conveniently located near schools, shopping, and major roadways, this home provides easy access to everyday amenities. Don't miss your chance to own a fully updated, move-in ready home at an affordable price.

15. 2026-04-11
    listed $50,000 Active
16. 2026-04-10
    listed $50,000 Active 843-char remark

    Show marketing remark (843 chars)

    A beautifully renovated home offering comfort, style, and great value. This property has been thoughtfully updated, making it an excellent opportunity for both homeowners and investors seeking a turnkey property. Inside, you'll find a refreshed interior featuring updated finishes, a functional layout, and bright living spaces filled with natural light. The home offers comfortable living areas and well-sized bedrooms, creating a welcoming and move-in ready environment. With renovations already completed, this property is ideal for a buyer looking for a low-maintenance home or an investor seeking an immediate rental opportunity. Conveniently located near schools, shopping, and major roadways, this home provides easy access to everyday amenities. Don't miss your chance to own a fully updated, move-in ready home at an affordable price.

ⓘ 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: $782 · $65/mo
• Projected year-2 tax: $782 · $65/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 ≥97°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: $11,006
• − Mortgage interest: −$2,627
• − Property taxes: −$782
• − Insurance: −$234
• − Repairs & maintenance: −$880
• − Management: −$880
• − Depreciation: −$1,364
• Taxable income: $4,237
• Est. tax owed @ 24.0%: −$1,017
• After-tax cash flow: $3,710/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

-6.2% since first listed

6 events — show timeline

• 2026-05-22 Price Changed $46,900 MiRealSource-MiMLS
• 2026-05-22 Price Changed $46,900 REALCOMP
• 2026-04-27 Price Changed $47,900 MiRealSource-MiMLS
• 2026-04-27 Price Changed $47,900 REALCOMP
• 2026-04-11 Listed $50,000 REALCOMP
• 2026-04-10 Listed $50,000 MiRealSource-MiMLS

Property tax history

+4.9%/yr

Latest (2025): $782 · +44.7% YoY. Source: county tax records.