2429 Delaware St · Flint, MI 48506

$11,900

2 bd · 1.0 ba · 748 sqft · SingleFamily public records · 33 Days on market

Built 1923 4,356 sqft lot ↓ 16% 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 +7.5/15.0
• 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

Wonderful investment! Nicer homes around, nice neighbors. Home sits far off the road and offers the potential to be a fantastic renovation or flip. Newer windows and roof seems good! Land contract terms may be available

Key facts

• Newer windows
• New roof
• 4,356 sq ft lot

Tags

• NEWER WINDOWS
• NEW ROOF

Property features AI

Finance

• Financial info: Annual tax approximately $511
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Aluminum siding; 748 square feet above grade finished area
• Exterior features: Lot dimensions approximately 40 x 106; Lot about 0.1 acres; Subdivision: BEECHWOOD PARK; Located near Dort / Delaware

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: No heating; No cooling
• Interior features: Crawl space basement; Total of 2 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $523 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($802 rent vs $12k).
• Recommended offer: $12k (3.0% below list) — sets the bar for market timing.
• Cap rate 59.1% 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: 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.
• Zoned schools: Holmes Stem Middle School Academy (math 10% / reading 30%, grade F, #420 of 493 statewide, top 86%, 324 students, 90% FRL).
• Market conditions: 204 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 $82 of loan paydown is wiped out by about $357 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($12k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.
• Current owner paid $5k; list at $12k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $11,543 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — 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. 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. 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?
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: 6.74% ✓
• Cap rate: 59.08%
• Cash-on-cash: 188.51%
• DSCR: 9.39
• GRM: 1.2

CMA / ARV

• ARV (on-the-fly): $38,148
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2426 Maryland Ave	0.02mi	2/1.0	712 (-5%)	2mo	$36,000	$51	89
3016 Oklahoma Ave	0.40mi	2/1.0	746 (-0%)	1mo	$54,400	$73	80
2719 Branch Rd	0.43mi	2/1.0	720 (-4%)	2mo	$19,000	$26	72
2510 Bennett Ave	0.31mi	2/1.0	700 (-6%)	5mo	$8,500	$12	70
2908 Douglas Ave	0.29mi	2/1.0	823 (+10%)	2mo	$68,900	$84	68
2613 Pennsylvania Ave	0.72mi	2/1.0	745 (-0%)	3mo	$16,000	$21	64
3214 Maryland Ave	0.62mi	2/1.0	720 (-4%)	4mo	$39,000	$54	61
3006 Agree Ave	0.67mi	2/1.0	700 (-6%)	3mo	$50,000	$71	55
3213 Holly Ave	0.70mi	3/1.0 (+1)	799 (+7%)	3mo	$34,000	$43	49
3912 Douglas Ave	0.72mi	2/1.0	820 (+10%)	6mo	$33,000	$40	46
1622 New York Ave	0.53mi	3/1.0 (+1)	839 (+12%)	6mo	$34,500	$41	45
3912 Western Rd	0.68mi	2/1.0	636 (-15%)	7mo	$47,000	$74	37

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: 10.44×
• Total profit: $31,438
• Equity at exit: $1,774

10-year hold

• IRR: —
• Equity multiple: 22.14×
• Total profit: $70,422
• Equity at exit: $1,029

Cash invested: $3,332 (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 48506

• Active inventory: 204
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $802 medium
• Mortgage (P&I): −$62
• Tax from tax record: −$43 /mo · $511/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $523

Break-even live

Break-even rent $139

Max offer price $11,900

Occupancy floor 30%

Sensitivity live

Price	-10% $530	-5% $527	+0% $523	+5% $520	+10% $517
Rent	-10% $460	-5% $492	+0% $523	+5% $555	+10% $587
Rate	-1.0pp $529	-0.5pp $526	base $523	+0.5pp $520	+1.0pp $517

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: $2,975
• Closing costs: $357
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3202 Western Rd Flint, MI	1.0	1.0	500	$645	$1.29	15d	1	0.34mi
2621 Churchill Ave Flint, MI	2.0	1.0	736	$795	$1.08	15d	1	0.43mi
1553 Illinois Ave Flint, MI	2.0	1.0	702	$900	$1.28	23d	1	0.81mi

Listing history 31 events

1. 2026-06-21
   days on market $11,900 Active 33 DOM
2. 2026-06-18
   days on market $11,900 Active 30 DOM
3. 2026-06-17
   days on market $11,900 Active 29 DOM
4. 2026-06-16
   pricedays on market $11,900 Active 28 DOM
5. 2026-06-15
   days on market $12,500 Active 27 DOM
6. 2026-06-14
   days on market $12,500 Active 25 DOM
7. 2026-06-13
   days on market $12,500 Active 24 DOM
8. 2026-06-10
   days on market $12,500 Active 22 DOM
9. 2026-06-09
   days on market $12,500 Active 21 DOM
10. 2026-06-08
    days on market $12,500 Active 20 DOM
11. 2026-06-07
    days on market $12,500 Active 19 DOM
12. 2026-06-05
    days on market $12,500 Active 16 DOM
13. 2026-06-03
    days on market $12,500 Active 15 DOM
14. 2026-06-02
    days on market $12,500 Active 14 DOM
15. 2026-06-01
    days on market $12,500 Active 13 DOM
16. 2026-05-31
    days on market $12,500 Active 12 DOM
17. 2026-05-30
    days on market $12,500 Active 11 DOM
18. 2026-05-19
    listed $12,500 Active 219-char remark

    Show marketing remark (219 chars)

    Wonderful investment! Nicer homes around, nice neighbors. Home sits far off the road and offers the potential to be a fantastic renovation or flip. Newer windows and roof seems good! Land contract terms may be available

19. 2026-05-19
    listed $12,500 Active

    Show marketing remark (219 chars)

    Wonderful investment! Nicer homes around, nice neighbors. Home sits far off the road and offers the potential to be a fantastic renovation or flip. Newer windows and roof seems good! Land contract terms may be available

20. 2025-02-21
    soldstatus $5,000 Closed 288-char remark

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

21. 2025-02-21
    soldstatus $5,000 Closed

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

22. 2025-01-31
    status Pending 288-char remark

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

23. 2025-01-31
    status Pending

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

24. 2025-01-11
    price $6,950 288-char remark

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

25. 2025-01-11
    price $6,950

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

26. 2024-11-15
    price $8,950 288-char remark

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

27. 2024-11-15
    price $8,950

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

28. 2024-09-12
    price $9,950 288-char remark

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

29. 2024-09-12
    price $9,950

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

30. 2024-08-13
    listed $14,950 Active 288-char remark

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

31. 2024-08-13
    listed $14,950 Active

    Show marketing remark (288 chars)

    Great opportunity on this ranch home in Flint. Home is currently a 1 bedroom but could be easily converted back to a 2 bedroom by putting a wall back in. Good sized kitchen and bathroom. Home sits on the back of the lot giving a large front yard. Home needs work but priced to compensate.

ⓘ 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: $511 · $43/mo
• Projected year-2 tax: $511 · $43/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: $9,621
• − Mortgage interest: −$667
• − Property taxes: −$511
• − Insurance: −$60
• − Repairs & maintenance: −$770
• − Management: −$770
• − Depreciation: −$346
• Taxable income: $6,498
• Est. tax owed @ 24.0%: −$1,560
• After-tax cash flow: $4,722/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): 24,712
• Household income: $47,929
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 954.0

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 White (76%)
• Race & ethnicity: White 76% Black 9% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 6% Romanian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -173.31%
• Current HPI: 90.0494
• 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

-16.4% since first listed

14 events — show timeline

• 2026-05-19 Listed $12,500 REALCOMP
• 2026-05-19 Listed $12,500 MiRealSource-MiMLS
• 2025-02-21 Sold (MLS) $5,000 REALCOMP
• 2025-02-21 Sold (MLS) $5,000 MiRealSource-MiMLS
• 2025-01-31 Pending — MiRealSource-MiMLS
• 2025-01-31 Pending — REALCOMP
• 2025-01-11 Price Changed $6,950 MiRealSource-MiMLS
• 2025-01-11 Price Changed $6,950 REALCOMP
• 2024-11-15 Price Changed $8,950 MiRealSource-MiMLS
• 2024-11-15 Price Changed $8,950 REALCOMP
• 2024-09-12 Price Changed $9,950 MiRealSource-MiMLS
• 2024-09-12 Price Changed $9,950 REALCOMP
• 2024-08-13 Listed $14,950 REALCOMP
• 2024-08-13 Listed $14,950 MiRealSource-MiMLS

Property tax history

+2.7%/yr

Latest (2025): $511 · +1.0% YoY. Source: county tax records.