1506 Pettibone Ave · Flint, MI 48507

$49,900

2 bd · 1.0 ba · 986 sqft · SingleFamily public records · 65 Days on market

Built 1955 3,920 sqft lot Est $88k · 43% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute and clean two bedroom starter home to own for less then rent! This home features hardwood floors, updated kitchen with white cabinets and ceramic backsplash, Updated bath with newer tile, Vinyl windows, and full basement! Don't wait, make this your new home today! THIS HOME IS FOR SALE ONLY, THIS HOME IS NOT FOR RENT, PLEASE BE AWARE! Home is under video surveillance, appointment required with licensed agent for all showings!

Key facts

• Vinyl windows
• Newer tile
• Updated bath

Tags

• HARDWOOD FLOORS
• UPDATED KITCHEN
• CERAMIC BACKSPLASH
• UPDATED BATH
• NEWER TILE
• VINYL WINDOWS

🏷️ Possibly a rental listed for sale. The $49,900 price doesn't fit this home's estimated sale value (~$87,754) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $361 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($907 rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 11.5% in Flint — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Rents soft (-1.0%/yr); 206 active listings in the ZIP; 4 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 $345 of loan paydown is wiped out by about $1k 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 + 0.0% rent growth), your $14k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 34y 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.

Risks & watch-outs

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

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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: 1.82% ✓
• Cap rate: 14.97%
• Cash-on-cash: 31.00%
• DSCR: 2.38
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $87,754
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1514 Vermilya Ave	0.10mi	2/1.0	952 (-3%)	0mo	$66,000	$69	90
1514 W Atherton Rd	0.10mi	3/1.0 (+1)	925 (-6%)	2mo	$35,000	$38	78
1902 Crestbrook Ln	0.30mi	3/1.0 (+1)	969 (-2%)	1mo	$111,000	$115	77
1413 Waldman Ave	0.08mi	3/1.0 (+1)	903 (-8%)	4mo	$99,900	$111	74
1105 Lincoln Ave	0.27mi	2/1.0	896 (-9%)	2mo	$38,000	$42	71
1418 Blueberry Ln	0.28mi	3/1.0 (+1)	1,045 (+6%)	4mo	$78,000	$75	68
934 Campbell St	0.44mi	3/1.0 (+1)	924 (-6%)	1mo	$89,000	$96	63
3312 Renault Dr	0.72mi	3/1.0 (+1)	988 (+0%)	3mo	$185,000	$187	59
912 Markham St	0.70mi	2/1.0	1,020 (+3%)	4mo	$71,000	$70	59
3805 Brunswick Ave	0.50mi	3/1.0 (+1)	921 (-7%)	4mo	$25,000	$27	57
737 Campbell St	0.66mi	3/1.0 (+1)	947 (-4%)	4mo	$84,700	$89	54
3902 Brunswick Ave	0.49mi	3/2.0 (+1)	1,128 (+14%)	2mo	$123,000	$109	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 22.3%
• Equity multiple: 1.88×
• Total profit: $12,269
• Equity at exit: $7,440

10-year hold

• IRR: 28.3%
• Equity multiple: 3.15×
• Total profit: $30,104
• Equity at exit: $4,314

Cash invested: $13,972 (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 48507

• Rents YoY: -1.0%
• Active inventory: 206
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $907 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$73 /mo · $872/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $361

Break-even live

Break-even rent $450

Max offer price $49,900

Occupancy floor 55%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1426 Pettibone Ave Flint, MI	2.0	1.0	750	$900	$1.20	21d	1	0.01mi
1023 Barrie Ave Flint, MI	2.0	1.0	660	$775	$1.17	21d	1	0.43mi
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	13d	1	0.65mi
4400 Kings Ln Burton, MI	1.0–2.0	1.0–2.0	666	$960	$1.44	13d	19	0.92mi

Listing history 23 events

1. 2026-04-26
   status Pending 434-char remark

   Show marketing remark (434 chars)

   Cute and clean two bedroom starter home to own for less then rent! This home features hardwood floors, updated kitchen with white cabinets and ceramic backsplash, Updated bath with newer tile, Vinyl windows, and full basement! Don't wait, make this your new home today! THIS HOME IS FOR SALE ONLY, THIS HOME IS NOT FOR RENT, PLEASE BE AWARE! Home is under video surveillance, appointment required with licensed agent for all showings!

2. 2026-04-26
   status Pending

   Show marketing remark (434 chars)

   Cute and clean two bedroom starter home to own for less then rent! This home features hardwood floors, updated kitchen with white cabinets and ceramic backsplash, Updated bath with newer tile, Vinyl windows, and full basement! Don't wait, make this your new home today! THIS HOME IS FOR SALE ONLY, THIS HOME IS NOT FOR RENT, PLEASE BE AWARE! Home is under video surveillance, appointment required with licensed agent for all showings!

3. 2026-03-13
   soldstatus $46,000
4. 2026-02-25
   historical Accepting Backup Offers 434-char remark

   Show marketing remark (434 chars)

   Cute and clean two bedroom starter home to own for less then rent! This home features hardwood floors, updated kitchen with white cabinets and ceramic backsplash, Updated bath with newer tile, Vinyl windows, and full basement! Don't wait, make this your new home today! THIS HOME IS FOR SALE ONLY, THIS HOME IS NOT FOR RENT, PLEASE BE AWARE! Home is under video surveillance, appointment required with licensed agent for all showings!

5. 2026-02-25
   historical Active Under Contract

   Show marketing remark (434 chars)

   Cute and clean two bedroom starter home to own for less then rent! This home features hardwood floors, updated kitchen with white cabinets and ceramic backsplash, Updated bath with newer tile, Vinyl windows, and full basement! Don't wait, make this your new home today! THIS HOME IS FOR SALE ONLY, THIS HOME IS NOT FOR RENT, PLEASE BE AWARE! Home is under video surveillance, appointment required with licensed agent for all showings!

6. 2026-02-20
   listed $49,900 Active

   Show marketing remark (434 chars)

   Cute and clean two bedroom starter home to own for less then rent! This home features hardwood floors, updated kitchen with white cabinets and ceramic backsplash, Updated bath with newer tile, Vinyl windows, and full basement! Don't wait, make this your new home today! THIS HOME IS FOR SALE ONLY, THIS HOME IS NOT FOR RENT, PLEASE BE AWARE! Home is under video surveillance, appointment required with licensed agent for all showings!

7. 2026-02-20
   listed $49,900 Active 434-char remark

   Show marketing remark (434 chars)

   Cute and clean two bedroom starter home to own for less then rent! This home features hardwood floors, updated kitchen with white cabinets and ceramic backsplash, Updated bath with newer tile, Vinyl windows, and full basement! Don't wait, make this your new home today! THIS HOME IS FOR SALE ONLY, THIS HOME IS NOT FOR RENT, PLEASE BE AWARE! Home is under video surveillance, appointment required with licensed agent for all showings!

8. 2002-11-07
   soldstatus $47,000
9. 2002-11-01
   soldstatus $46,900 119-char remark

   Show marketing remark (119 chars)

   Well Maintained, Hardwood Floors Under Bedroom Carpets, Crown Moldings In Living Room, Pantry, Close To Xways, Shopping

10. 2002-11-01
    soldstatus $46,900

    Show marketing remark (119 chars)

    Well Maintained, Hardwood Floors Under Bedroom Carpets, Crown Moldings In Living Room, Pantry, Close To Xways, Shopping

11. 2002-09-26
    historical 119-char remark

    Show marketing remark (119 chars)

    Well Maintained, Hardwood Floors Under Bedroom Carpets, Crown Moldings In Living Room, Pantry, Close To Xways, Shopping

12. 2002-08-20
    listed $46,900 119-char remark

    Show marketing remark (119 chars)

    Well Maintained, Hardwood Floors Under Bedroom Carpets, Crown Moldings In Living Room, Pantry, Close To Xways, Shopping

13. 2002-08-20
    listed $46,900

    Show marketing remark (119 chars)

    Well Maintained, Hardwood Floors Under Bedroom Carpets, Crown Moldings In Living Room, Pantry, Close To Xways, Shopping

14. 1995-09-25
    historical
15. 1995-09-21
    soldstatus $34,000
16. 1995-09-21
    soldstatus $34,000
17. 1995-07-20
    listed $36,000
18. 1995-07-20
    listed $36,000
19. 1992-04-07
    historical
20. 1992-04-03
    soldstatus $24,225
21. 1992-04-03
    soldstatus $24,225
22. 1992-02-25
    listed $28,500
23. 1992-02-25
    listed $28,500

ⓘ 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: $872 · $73/mo
• Projected year-2 tax: $872 · $73/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,878
• − Mortgage interest: −$2,795
• − Property taxes: −$872
• − Insurance: −$250
• − Repairs & maintenance: −$870
• − Management: −$870
• − Depreciation: −$1,452
• Taxable income: $3,769
• Est. tax owed @ 24.0%: −$905
• After-tax cash flow: $3,427/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): 28,723
• Household income: $46,554
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1534.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 59% Black 28% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -154.90%
• Current HPI: 132.3632
• Rent YoY: ▼ -1.04%
• 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

+61.4% since first listed

23 events — show timeline

• 2026-04-26 Pending — MiRealSource-MiMLS
• 2026-04-26 Pending — REALCOMP
• 2026-03-13 Sold (Public Records) $46,000 Public Records
• 2026-02-25 Contingent — MiRealSource-MiMLS
• 2026-02-25 Contingent — REALCOMP
• 2026-02-20 Listed $49,900 REALCOMP
• 2026-02-20 Listed $49,900 MiRealSource-MiMLS
• 2002-11-07 Sold (Public Records) $47,000 Public Records
• 2002-11-01 Sold (MLS) $46,900 REALCOMP
• 2002-11-01 Sold (MLS) $46,900 MiRealSource-MiMLS
• 2002-09-26 Listing Removed — MiRealSource-MiMLS
• 2002-08-20 Listed $46,900 REALCOMP
• 2002-08-20 Listed $46,900 MiRealSource-MiMLS
• 1995-09-25 Listing Removed — MiRealSource-MiMLS
• 1995-09-21 Sold (MLS) $34,000 REALCOMP
• 1995-09-21 Sold (MLS) $34,000 MiRealSource-MiMLS
• 1995-07-20 Listed $36,000 REALCOMP
• 1995-07-20 Listed $36,000 MiRealSource-MiMLS
• 1992-04-07 Listing Removed — MiRealSource-MiMLS
• 1992-04-03 Sold (MLS) $24,225 REALCOMP
• 1992-04-03 Sold (MLS) $24,225 MiRealSource-MiMLS
• 1992-02-25 Listed $28,500 REALCOMP
• 1992-02-25 Listed $28,500 MiRealSource-MiMLS

Property tax history

+0.2%/yr

Latest (2025): $872 · +1.5% YoY. Source: county tax records.