649 Basswood Ct Basswood Ct · Genesee, MI 48506

$36,000

3 bd · 1.0 ba · 633 sqft · SingleFamily · 335 Days on market

Built 1997

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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
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to our community. Near shopping centers and the freeway. Nice 3 bedroom, 2 bathroom home. Great for a first time home buyer or someone wanting to downsize.

Key facts

• Garage
• Built 1997
• Listed 335 days

Property features AI

Exterior

• Parking: Detached garage with 1 parking space
• Utilities: Public water
• Home design: Residential manufactured home; One-story
• Construction: Built in 1997; Slab foundation
• Exterior features: Vinyl siding; Paved street frontage; Frontage of about 50 feet

Interior

• Kitchen: Entry-level kitchen (approx. 11 x 11)
• Bedrooms: Three bedrooms, all on the entry level; Bedroom sizes approximately 13 x 13, 12 x 12, and 12 (width listed)
• Bathrooms: One full bathroom on the entry level (approx. 6 x 7)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Six total rooms; Entry-level living areas

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $563 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $32k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Kearsley Community School District (suburban): math 24% / reading 38% proficiency, ranked #343 of 540 in MI (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 202 active listings in the ZIP; 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 $249 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 + 3.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 335 days — a 12% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $14k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $31,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 335 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 2.86% ✓
• Cap rate: 25.08%
• Cash-on-cash: 67.08%
• DSCR: 3.98
• GRM: 2.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 66.4%
• Equity multiple: 3.98×
• Total profit: $30,070
• Equity at exit: $5,368

10-year hold

• IRR: 70.7%
• Equity multiple: 8.19×
• Total profit: $72,460
• Equity at exit: $3,113

Cash invested: $10,080 (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: 202
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,028 medium
• Mortgage (P&I): −$189
• Tax est. 1.5%: −$45 /mo · $540/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $563

Break-even live

Break-even rent $315

Max offer price $36,000

Occupancy floor 40%

Sensitivity live

Price	-10% $588	-5% $576	+0% $563	+5% $551	+10% $539
Rent	-10% $482	-5% $523	+0% $563	+5% $604	+10% $645
Rate	-1.0pp $582	-0.5pp $573	base $563	+0.5pp $554	+1.0pp $545

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: $9,000
• Closing costs: $1,080
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $36,000 Active 335 DOM
2. 2026-06-17
   days on market $36,000 Active 334 DOM
3. 2026-06-16
   days on market $36,000 Active 333 DOM
4. 2026-06-15
   days on market $36,000 Active 332 DOM
5. 2026-06-14
   days on market $36,000 Active 330 DOM
6. 2026-06-13
   days on market $36,000 Active 329 DOM
7. 2026-06-10
   days on market $36,000 Active 327 DOM
8. 2026-06-09
   days on market $36,000 Active 326 DOM
9. 2026-06-08
   days on market $36,000 Active 325 DOM
10. 2026-06-07
    days on market $36,000 Active 324 DOM
11. 2026-06-05
    days on market $36,000 Active 321 DOM
12. 2026-06-02
    days on market $36,000 Active 319 DOM
13. 2026-06-01
    days on market $36,000 Active 318 DOM
14. 2026-05-31
    days on market $36,000 Active 317 DOM
15. 2026-05-30
    days on market $36,000 Active 316 DOM
16. 2026-04-30
    historical
17. 2026-04-30
    historical
18. 2025-10-13
    price $36,000
19. 2025-10-13
    price $36,000
20. 2025-10-04
    price $40,000
21. 2025-10-03
    price $40,000
22. 2025-09-24
    price $45,900
23. 2025-09-24
    price $45,900
24. 2025-07-18
    listed $49,500 Active
25. 2025-07-18
    listed $36,000 Active
26. 2025-07-18
    listed $49,500 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $12,338
• − Mortgage interest: −$2,017
• − Property taxes: −$540
• − Insurance: −$180
• − Repairs & maintenance: −$987
• − Management: −$987
• − Depreciation: −$1,047
• Taxable income: $6,580
• Est. tax owed @ 24.0%: −$1,579
• After-tax cash flow: $5,183/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: Kearsley Community School District
• NCES district ID: 2620070
• Math proficiency: 24% ▼ -14.00%
• Reading proficiency: 38% ▼ -8.00%
• Median HH income: $50,066
• Composite: 26.99/100
• National rank: #7068
• State rank: #343 of 540 in MI

Livability — Genesee

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Genesee County · 221,329 people
• 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

+0.0% since first listed

11 events — show timeline

• 2026-04-30 Listing Removed — MiRealSource-MiMLS
• 2026-04-30 Listing Removed — REALCOMP
• 2025-10-13 Price Changed $36,000 MiRealSource-MiMLS
• 2025-10-13 Price Changed $36,000 REALCOMP
• 2025-10-04 Price Changed $40,000 MiRealSource-MiMLS
• 2025-10-03 Price Changed $40,000 REALCOMP
• 2025-09-24 Price Changed $45,900 MiRealSource-MiMLS
• 2025-09-24 Price Changed $45,900 REALCOMP
• 2025-07-18 Listed $49,500 REALCOMP
• 2025-07-18 Listed $49,500 MiRealSource-MiMLS
• 2025-07-18 Listed $36,000 MiRealSource-MiMLS