1483 Carman St · Burton, MI 48529

$84,900

2 bd · 1.0 ba · 744 sqft · SingleFamily · 101 Days on market

Built 1946 4,356 sqft lot $114/sqft · at area comps Est $81k · at est.

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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 +17.0/30.0
• ARV discount +5.5/15.0
• DSCR +5.3/10.0
• 1% rule +5.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2 bedroom, 1 bathroom ranch in the Bendle School District offers major updates completed in 2022 that truly set it apart. Renovations included new plumbing, new electrical, new water heater, new metal roof, new siding, new windows, updated flooring, new light fixtures, and new kitchen cabinets. Inside, laminate flooring flows through the main living areas, connecting the living room and kitchen for a clean, cohesive feel, and hardwood floors in the bedrooms. The kitchen provides ample cabinet space and is situated off a tiled laundry/mud room with access to the backyard deck. With so many big ticket improvements already completed and easy access to main roads and expressways, this home presents a strong opportunity for a homeowner or investor alike.

Key facts

• New metal roof
• New plumbing
• New siding

Tags

• NEW PLUMBING
• NEW ELECTRICAL
• NEW WATER HEATER
• NEW METAL ROOF
• NEW SIDING
• NEW WINDOWS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $58 ($693/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($854 rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.8% in Burton — 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 61/100 on livability (#555 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Bendle Public Schools (suburban): math 6% / reading 29% proficiency, ranked #487 of 540 in MI (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 81% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Bendle Middle School (math 5% / reading 27%, grade F, #447 of 493 statewide, top 91%, 230 students, 91% FRL); Bendle High School (math 5% / reading 34%, grade F, #611 of 713 statewide, top 87%, 317 students, 90% FRL).
• Market conditions: 54 active listings in the ZIP; 4 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 $587 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,259 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1946 — 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. 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: 1.01% ✓
• Cap rate: 7.11%
• Cash-on-cash: 2.92%
• DSCR: 1.13
• GRM: 8.3

CMA / ARV

• ARV (median comp): $81,232
• List price: $84,900
• Delta: 4.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1475 Wells St	0.05mi	2/1.0	723 (-3%)	2mo	$89,900	$124	91
1388 Carman St	0.18mi	2/1.0	723 (-3%)	3mo	$84,650	$117	85
1409 James St	0.17mi	2/1.0	818 (+10%)	3mo	$76,000	$93	73
1233 Carman St	0.48mi	2/1.0	720 (-3%)	2mo	$82,500	$115	71
1325 Norton St	0.32mi	2/1.0	792 (+6%)	6mo	$64,900	$82	70
2098 E Scottwood Ave	0.60mi	2/1.0	768 (+3%)	2mo	$115,900	$151	65
2220 E Bergin Ave	0.68mi	2/1.0	744 (0%)	6mo	$80,000	$108	64
530 Mckeighan Ave	0.66mi	2/1.0	718 (-4%)	2mo	$90,000	$125	62
3517 Fern Ave	0.64mi	2/1.0	680 (-9%)	0mo	$98,000	$144	56
1169 Carman St	0.60mi	3/1.0 (+1)	680 (-9%)	5mo	$85,900	$126	48
2291 Kenneth St	0.66mi	1/1.0 (-1)	674 (-9%)	1mo	$23,500	$35	48
2117 E Schumacher Ave	0.73mi	2/1.0	660 (-11%)	4mo	$85,000	$129	44

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: -11.7%
• Equity multiple: 0.58×
• Total profit: $-10,046
• Equity at exit: $12,659

10-year hold

• IRR: -2.4%
• Equity multiple: 0.84×
• Total profit: $-3,881
• Equity at exit: $7,341

Cash invested: $23,772 (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 48529

• Home prices YoY: -26.5%
• Active inventory: 54
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $854 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$136 /mo · $1,633/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$179
• Net cashflow: $58

Break-even live

Break-even rent $781

Max offer price $84,900

Occupancy floor 88%

Sensitivity live

Price	-10% $106	-5% $82	+0% $58	+5% $34	+10% $10
Rent	-10% $-10	-5% $24	+0% $58	+5% $92	+10% $125
Rate	-1.0pp $101	-0.5pp $79	base $58	+0.5pp $36	+1.0pp $13

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2266 Donovan St Burton, MI	2.0	1.0	700	$800	$1.14	15d	1	0.61mi
4400 Kings Ln Burton, MI	1.0–2.0	1.0–2.0	666	$960	$1.44	15d	19	0.71mi
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	15d	1	0.87mi
1023 Barrie Ave Flint, MI	2.0	1.0	660	$775	$1.17	23d	1	1.50mi

Listing history 27 events

1. 2026-06-09
   status $84,900 Pending 101 DOM
2. 2026-06-08
   days on market $84,900 Active 101 DOM
3. 2026-06-07
   days on market $84,900 Active 100 DOM
4. 2026-06-05
   days on market $84,900 Active 97 DOM
5. 2026-06-03
   days on market $84,900 Active 96 DOM
6. 2026-06-02
   days on market $84,900 Active 95 DOM
7. 2026-06-01
   days on market $84,900 Active 94 DOM
8. 2026-05-31
   days on market $84,900 Active 93 DOM
9. 2026-05-30
   days on market $84,900 Active 92 DOM
10. 2026-04-23
    price $84,900 764-char remark

    Show marketing remark (764 chars)

    This 2 bedroom, 1 bathroom ranch in the Bendle School District offers major updates completed in 2022 that truly set it apart. Renovations included new plumbing, new electrical, new water heater, new metal roof, new siding, new windows, updated flooring, new light fixtures, and new kitchen cabinets. Inside, laminate flooring flows through the main living areas, connecting the living room and kitchen for a clean, cohesive feel, and hardwood floors in the bedrooms. The kitchen provides ample cabinet space and is situated off a tiled laundry/mud room with access to the backyard deck. With so many big ticket improvements already completed and easy access to main roads and expressways, this home presents a strong opportunity for a homeowner or investor alike.

11. 2026-04-22
    price $84,900 764-char remark

    Show marketing remark (764 chars)

    This 2 bedroom, 1 bathroom ranch in the Bendle School District offers major updates completed in 2022 that truly set it apart. Renovations included new plumbing, new electrical, new water heater, new metal roof, new siding, new windows, updated flooring, new light fixtures, and new kitchen cabinets. Inside, laminate flooring flows through the main living areas, connecting the living room and kitchen for a clean, cohesive feel, and hardwood floors in the bedrooms. The kitchen provides ample cabinet space and is situated off a tiled laundry/mud room with access to the backyard deck. With so many big ticket improvements already completed and easy access to main roads and expressways, this home presents a strong opportunity for a homeowner or investor alike.

12. 2026-02-25
    listed $89,900 Active 764-char remark

    Show marketing remark (764 chars)

    This 2 bedroom, 1 bathroom ranch in the Bendle School District offers major updates completed in 2022 that truly set it apart. Renovations included new plumbing, new electrical, new water heater, new metal roof, new siding, new windows, updated flooring, new light fixtures, and new kitchen cabinets. Inside, laminate flooring flows through the main living areas, connecting the living room and kitchen for a clean, cohesive feel, and hardwood floors in the bedrooms. The kitchen provides ample cabinet space and is situated off a tiled laundry/mud room with access to the backyard deck. With so many big ticket improvements already completed and easy access to main roads and expressways, this home presents a strong opportunity for a homeowner or investor alike.

13. 2026-02-25
    listed $89,900 Active 764-char remark

    Show marketing remark (764 chars)

    This 2 bedroom, 1 bathroom ranch in the Bendle School District offers major updates completed in 2022 that truly set it apart. Renovations included new plumbing, new electrical, new water heater, new metal roof, new siding, new windows, updated flooring, new light fixtures, and new kitchen cabinets. Inside, laminate flooring flows through the main living areas, connecting the living room and kitchen for a clean, cohesive feel, and hardwood floors in the bedrooms. The kitchen provides ample cabinet space and is situated off a tiled laundry/mud room with access to the backyard deck. With so many big ticket improvements already completed and easy access to main roads and expressways, this home presents a strong opportunity for a homeowner or investor alike.

14. 2023-03-15
    soldstatus $83,000 Sold
15. 2023-03-15
    soldstatus $83,000 Closed
16. 2023-02-15
    status Pending
17. 2023-02-15
    status Pending
18. 2023-02-09
    listed $79,900 Active
19. 2023-02-07
    listed $79,900 Active
20. 2022-12-14
    status Pending
21. 2022-12-14
    status Pending
22. 2022-12-13
    historical
23. 2022-12-13
    historical
24. 2022-12-07
    price $75,000
25. 2022-12-07
    price $75,000
26. 2022-10-31
    listed $79,900 Active
27. 2022-10-31
    listed $79,900 Active

ⓘ 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: $1,633 · $136/mo
• Projected year-2 tax: $1,633 · $136/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $10,245
• − Mortgage interest: −$4,756
• − Property taxes: −$1,633
• − Insurance: −$424
• − Repairs & maintenance: −$820
• − Management: −$820
• − Depreciation: −$2,470
• Taxable loss: −$677
• Est. tax savings @ 24.0%: +$163
• After-tax cash flow: $856/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: Bendle Public Schools
• NCES district ID: 2604740
• Math proficiency: 6% ▼ -7.00%
• Reading proficiency: 29% ▼ -1.00%
• Median HH income: $35,492
• Composite: 14.36/100
• National rank: #9438
• State rank: #487 of 540 in MI

Livability — Burton

• Score: 61/100
• State rank: #555
• US rank: #17380

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety F User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burton, MI
• City population: 26,014
• Population (ZIP): 8,959

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 (82%)
• Race & ethnicity: White 82% Black 9% Hispanic / Latino 6% Two or more races 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 4%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -82.30%
• Current HPI: 228.5338
• 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

+6.3% since first listed

18 events — show timeline

• 2026-04-23 Price Changed $84,900 MiRealSource-MiMLS
• 2026-04-22 Price Changed $84,900 REALCOMP
• 2026-02-25 Listed $89,900 REALCOMP
• 2026-02-25 Listed $89,900 MiRealSource-MiMLS
• 2023-03-15 Sold (MLS) $83,000 MiRealSource-MiMLS
• 2023-03-15 Sold (MLS) $83,000 REALCOMP
• 2023-02-15 Pending — MiRealSource-MiMLS
• 2023-02-15 Pending — REALCOMP
• 2023-02-09 Listed $79,900 REALCOMP
• 2023-02-07 Listed $79,900 MiRealSource-MiMLS
• 2022-12-14 Pending — MiRealSource-MiMLS
• 2022-12-14 Pending — REALCOMP
• 2022-12-13 Listing Removed — MiRealSource-MiMLS
• 2022-12-13 Listing Removed — REALCOMP
• 2022-12-07 Price Changed $75,000 MiRealSource-MiMLS
• 2022-12-07 Price Changed $75,000 REALCOMP
• 2022-10-31 Listed $79,900 MiRealSource-MiMLS
• 2022-10-31 Listed $79,900 REALCOMP

Property tax history

+6.5%/yr

Latest (2025): $1,633 · +2.6% YoY. Source: county tax records.