609 Thomson St · Flint, MI 48503

$115,000

4 bd · 2.0 ba · 1,849 sqft · SingleFamily public records · 42 Days on market

Built 1900 3,485 sqft lot Est $200k · 42% under

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Why this score? — see what drove the C 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 +18.7/30.0
• ARV discount +15.0/15.0
• 1% rule +6.7/10.0
• DSCR +5.9/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great multi-family investment opportunity in East Village near downtown Flint. This is a prime rental market located right in between the University of Michigan - Flint Campus, the Flint College Cultural Center and the newly proposed Central Highschool campus redevelopment. This is an opportunity to invest in the path of progress in an area where hundreds of millions of dollars are pouring into revitalization efforts. Lower unit pays $700/month and upstairs tenant pays $875. Owner pays water, tenant pays gas & electric. Lower unit is month-month, upstairs tenant is on year lease. Each unit has it's own water heater & furnace. 24 hour notice to show.

Key facts

• Prime rental market
• Own water heater
• Own furnace

Tags

• PRIME RENTAL MARKET
• FLINT COLLEGE CULTURAL CENTER
• REVITALIZATION EFFORTS
• OWN WATER HEATER
• OWN FURNACE

Property features AI

Finance

• Other: Lot dimensions approximately 59 x 66 x 58 x 66; Lot size about 0.08 acres; Annual tax: $3,566
• Financial info: Unit rents: $700 and $875

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Multi-family residential income property; Two levels; Subdivision: AUSTIN B WITHERBEES ADD
• Construction: Above-grade finished area: 1,849 (square feet)
• Exterior features: Paved road access; Curbs

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; Separate meters for heating; No central cooling
• Interior features: Gas water heater; Basement

🏷️ Possibly a rental listed for sale. The $115,000 price doesn't fit this home's estimated sale value (~$199,692) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 11.5% in Flint — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 rising fast (+12.3%/yr); 135 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• This rent runs 36% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1900 — 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. 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: 1.17% ✓
• Cap rate: 7.48%
• Cash-on-cash: 4.25%
• DSCR: 1.19
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $199,692
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
620 E 2nd St	0.10mi	4/2.0	1,818 (-2%)	5mo	$68,000	$37	88
802 E 2nd St	0.02mi	4/2.0	1,820 (-2%)	14mo	$99,000	$54	85
722 E 6th St	0.33mi	3/2.5 (-1)	1,812 (-2%)	10mo	$129,000	$71	66
1513 Brookwood Ave	0.72mi	4/1.5	1,845 (-0%)	8mo	$212,500	$115	57
1007 E Fork Dr	0.53mi	4/1.5	2,000 (+8%)	14mo	$230,000	$115	48
1320 Beard St	0.62mi	3/2.0 (-1)	1,879 (+2%)	20mo	$152,000	$81	46
1018 Blanchard Ave	0.68mi	3/1.5 (-1)	1,784 (-4%)	16mo	$193,000	$108	42
927 Kensington Ave	0.75mi	3/1.5 (-1)	1,767 (-4%)	11mo	$200,000	$113	42
1309 Riverdale St	0.46mi	3/2.0 (-1)	2,027 (+10%)	19mo	$215,000	$106	41
1012 Kensington Ave	0.73mi	3/2.5 (-1)	1,707 (-8%)	9mo	$215,000	$126	39
1613 Woodlawn Park Dr	0.69mi	3/2.0 (-1)	2,037 (+10%)	14mo	$240,000	$118	34
924 Church St	0.74mi	5/2.0 (+1)	2,012 (+9%)	19mo	$47,000	$23	30

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -3.2%
• Equity multiple: 0.87×
• Total profit: $-4,142
• Equity at exit: $17,147

10-year hold

• IRR: 12.0%
• Equity multiple: 2.20×
• Total profit: $38,567
• Equity at exit: $9,943

Cash invested: $32,200 (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 48503

• Home prices YoY: -27.7%
• Rents YoY: 12.3%
• Active inventory: 135
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,345 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$297 /mo · $3,566/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $114

Break-even live

Break-even rent $1,200

Max offer price $115,000

Occupancy floor 87%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1540 Garland St Flint, MI	3.0	2.5	1344	$1,017	$0.76	21d	1	1.38mi

Listing history 24 events

1. 2026-06-18
   days on market $115,000 Active 42 DOM
2. 2026-06-17
   days on market $115,000 Active 41 DOM
3. 2026-06-16
   days on market $115,000 Active 40 DOM
4. 2026-06-15
   days on market $115,000 Active 39 DOM
5. 2026-06-14
   days on market $115,000 Active 37 DOM
6. 2026-06-13
   pricedays on market $115,000 Active 36 DOM
7. 2026-06-10
   days on market $125,000 Active 34 DOM
8. 2026-06-09
   days on market $125,000 Active 33 DOM
9. 2026-06-08
   days on market $125,000 Active 32 DOM
10. 2026-06-07
    days on market $125,000 Active 31 DOM
11. 2026-06-05
    days on market $125,000 Active 28 DOM
12. 2026-06-03
    days on market $125,000 Active 27 DOM
13. 2026-06-02
    days on market $125,000 Active 26 DOM
14. 2026-06-01
    days on market $125,000 Active 25 DOM
15. 2026-05-31
    days on market $125,000 Active 24 DOM
16. 2026-05-30
    days on market $125,000 Active 23 DOM
17. 2026-05-07
    listed $125,000 Active 669-char remark

    Show marketing remark (669 chars)

    Great multi-family investment opportunity in East Village near downtown Flint. This is a prime rental market located right in between the University of Michigan - Flint Campus, the Flint College Cultural Center and the newly proposed Central Highschool campus redevelopment. This is an opportunity to invest in the path of progress in an area where hundreds of millions of dollars are pouring into revitalization efforts. Lower unit pays $700/month and upstairs tenant pays $875. Owner pays water, tenant pays gas & electric. Lower unit is month-month, upstairs tenant is on year lease. Each unit has it's own water heater & furnace. 24 hour notice to show.

18. 2026-05-07
    listed $125,000 Active

    Show marketing remark (669 chars)

    Great multi-family investment opportunity in East Village near downtown Flint. This is a prime rental market located right in between the University of Michigan - Flint Campus, the Flint College Cultural Center and the newly proposed Central Highschool campus redevelopment. This is an opportunity to invest in the path of progress in an area where hundreds of millions of dollars are pouring into revitalization efforts. Lower unit pays $700/month and upstairs tenant pays $875. Owner pays water, tenant pays gas & electric. Lower unit is month-month, upstairs tenant is on year lease. Each unit has it's own water heater & furnace. 24 hour notice to show.

19. 2024-09-11
    soldstatus $100,000
20. 2024-08-28
    soldstatus $100,000 Closed 425-char remark

    Show marketing remark (425 chars)

    Must See! Two occupied units One bedroom entry level unit, 3 bedrooms upper unit Each unit has it's own furnace Separate gas and electricity New improvements include 2020 New wood porch 2021 New windows, New chimney, New Roof and gutters 2022 Unit 1 New carpet New Furnace New toilet 2023 New Front porch Added blown insulation and New furnace for unit 2 Plus other improvements Ideal Investment long Term Tena Call Now!

21. 2024-08-28
    soldstatus $100,000

    Show marketing remark (425 chars)

    Must See! Two occupied units One bedroom entry level unit, 3 bedrooms upper unit Each unit has it's own furnace Separate gas and electricity New improvements include 2020 New wood porch 2021 New windows, New chimney, New Roof and gutters 2022 Unit 1 New carpet New Furnace New toilet 2023 New Front porch Added blown insulation and New furnace for unit 2 Plus other improvements Ideal Investment long Term Tena Call Now!

22. 2024-05-02
    status Pending 425-char remark

    Show marketing remark (425 chars)

    Must See! Two occupied units One bedroom entry level unit, 3 bedrooms upper unit Each unit has it's own furnace Separate gas and electricity New improvements include 2020 New wood porch 2021 New windows, New chimney, New Roof and gutters 2022 Unit 1 New carpet New Furnace New toilet 2023 New Front porch Added blown insulation and New furnace for unit 2 Plus other improvements Ideal Investment long Term Tena Call Now!

23. 2024-02-28
    listed $125,000 Active 425-char remark

    Show marketing remark (425 chars)

    Must See! Two occupied units One bedroom entry level unit, 3 bedrooms upper unit Each unit has it's own furnace Separate gas and electricity New improvements include 2020 New wood porch 2021 New windows, New chimney, New Roof and gutters 2022 Unit 1 New carpet New Furnace New toilet 2023 New Front porch Added blown insulation and New furnace for unit 2 Plus other improvements Ideal Investment long Term Tena Call Now!

24. 2024-02-28
    listed $125,000

    Show marketing remark (425 chars)

    Must See! Two occupied units One bedroom entry level unit, 3 bedrooms upper unit Each unit has it's own furnace Separate gas and electricity New improvements include 2020 New wood porch 2021 New windows, New chimney, New Roof and gutters 2022 Unit 1 New carpet New Furnace New toilet 2023 New Front porch Added blown insulation and New furnace for unit 2 Plus other improvements Ideal Investment long Term Tena Call Now!

ⓘ 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: $3,566 · $297/mo
• Projected year-2 tax: $3,566 · $297/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: $16,137
• − Mortgage interest: −$6,442
• − Property taxes: −$3,566
• − Insurance: −$575
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$3,345
• Taxable loss: −$374
• Est. tax savings @ 24.0%: +$90
• After-tax cash flow: $1,460/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): 22,347
• Household income: $44,411
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1293.0

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 0.56)
• Race & ethnicity: Black 55% White 36% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 5% · China, Canada
• Languages at home: 93% English-only · Arabic 4% Spanish 1% Chinese 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: ▼ -49.84%
• Current HPI: 130.1152
• Rent YoY: ▲ 12.35%
• 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

8 events — show timeline

• 2026-05-07 Listed $125,000 REALCOMP
• 2026-05-07 Listed $125,000 MiRealSource-MiMLS
• 2024-09-11 Sold (Public Records) $100,000 Public Records
• 2024-08-28 Sold (MLS) $100,000 REALCOMP
• 2024-08-28 Sold (MLS) $100,000 MiRealSource-MiMLS
• 2024-05-02 Pending — MiRealSource-MiMLS
• 2024-02-28 Listed $125,000 REALCOMP
• 2024-02-28 Listed $125,000 MiRealSource-MiMLS

Property tax history

+12.0%/yr

Latest (2025): $3,566 · +173.7% YoY. Source: county tax records.