1511 Tacoma St · Flint, MI 48503

$59,000

3 bd · 2.0 ba · 1,001 sqft · SingleFamily public records · 237 Days on market

Built 1929 4,000 sqft lot Est $42k · 40% over ↓ 16% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent investment opportunity! 2 Unit Multi-Family Property! Ideal for investors or owner occupants, this versatile duplex offers great income potential. The property features two separate units: a 1-bedroom, 1 bath unit on the first floor and a 2-bedroom, 1-bath unit upstairs. The upper unit has been fully updated, offering modern finishes and move in ready appeal. The first floor unit will need some light updates such as new carpet in the bedroom and cleaning in the basement, allowing you to lease it right away. Currently, utilities are not separated but this should be an easy fix. Conveniently located near schools, parks and U of M, this property is a great opportunity to generate steady cash flow for a long term.

Key facts

• Near schools
• Two separate units
• Fully updated

Tags

• MULTI-FAMILY PROPERTY
• TWO SEPARATE UNITS
• FULLY UPDATED
• MODERN FINISHES
• MOVE IN READY
• NEAR SCHOOLS

Property features AI

Finance

• Other: Lot dimensions approximately 40 x 100; Above-grade finished area reported at 1,001 (unit breakdown: ~500 sq ft and ~500 sq ft)
• Financial info: Designed as residential income (multi-family)

Exterior

• Utilities: Public water; Public sewer
• Home design: Multi-family residential property; Two-story building; Zoned for multi-family
• Construction: Aluminum and vinyl siding; Block foundation
• Exterior features: Front porch; Paved road access

Interior

• Bedrooms: One 1-bedroom unit; One 2-bedroom unit
• Bathrooms: Two full bathrooms total (one in each unit)
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($936 rent vs $59k).
• Recommended offer: $52k (12.0% below list) — sets the bar for market timing.

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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $408 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 237 days — a 12% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 21 sale attempts since 22y 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 $46k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $51,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 237 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.59% ✓
• Cap rate: 11.89%
• Cash-on-cash: 19.98%
• DSCR: 1.89
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $42,042
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1517 Tacoma St	0.02mi	3/1.0	875 (-13%)	1mo	$46,500	$53	74
2041 Warner Ave	0.66mi	3/1.0	1,001 (0%)	1mo	$24,000	$24	64
2021 Brooks St	0.51mi	2/1.0 (-1)	987 (-1%)	3mo	$55,000	$56	62
2314 S Grand Traverse St	0.36mi	2/1.5 (-1)	922 (-8%)	7mo	$30,000	$33	57
913 Davis St	0.68mi	3/1.0	972 (-3%)	3mo	$14,500	$15	57
401 Monroe St	0.42mi	3/1.0	912 (-9%)	13mo	$10,000	$11	51
921 Cedar St	0.59mi	3/1.0	1,024 (+2%)	17mo	$45,000	$44	51
620 Simcoe Ave	0.69mi	4/1.5 (+1)	1,000 (-0%)	16mo	$42,000	$42	47
609 Lippincott Blvd	0.73mi	3/1.0	1,080 (+8%)	9mo	$40,000	$37	41
2002 Ferris Ave	0.70mi	4/1.0 (+1)	1,087 (+9%)	8mo	$29,000	$27	37
1608 Broad Ct	0.68mi	3/1.5	1,130 (+13%)	18mo	$92,500	$82	30
2054 Dwight Ave	0.74mi	3/1.0	864 (-14%)	18mo	$40,000	$46	23

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: 18.1%
• Equity multiple: 1.78×
• Total profit: $12,956
• Equity at exit: $8,797

10-year hold

• IRR: 30.1%
• Equity multiple: 4.42×
• Total profit: $56,561
• Equity at exit: $5,101

Cash invested: $16,520 (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: 5.3×

Monthly cashflow live

• Estimated rent: $936 medium
• Mortgage (P&I): −$309
• Tax from tax record: −$131 /mo · $1,567/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $275

Break-even live

Break-even rent $588

Max offer price $59,000

Occupancy floor 66%

Sensitivity live

Price	-10% $308	-5% $292	+0% $275	+5% $258	+10% $242
Rent	-10% $201	-5% $238	+0% $275	+5% $312	+10% $349
Rate	-1.0pp $305	-0.5pp $290	base $275	+0.5pp $260	+1.0pp $244

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: $14,750
• Closing costs: $1,770
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 Lippincott Blvd Flint, MI	2.0	1.0	800	$695	$0.87	14d	1	0.68mi
912 Waldman Ave Flint, MI	3.0	2.0	1223	$675	$0.55	14d	1	1.08mi
1426 Pettibone Ave Flint, MI	2.0	1.0	750	$900	$1.20	22d	1	1.22mi
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	14d	1	1.34mi

Listing history 50 events

1. 2026-06-18
   days on market $59,000 Active 237 DOM
2. 2026-06-17
   days on market $59,000 Active 236 DOM
3. 2026-06-16
   days on market $59,000 Active 235 DOM
4. 2026-06-15
   days on market $59,000 Active 234 DOM
5. 2026-06-14
   days on market $59,000 Active 232 DOM
6. 2026-06-13
   days on market $59,000 Active 231 DOM
7. 2026-06-10
   days on market $59,000 Active 229 DOM
8. 2026-06-09
   days on market $59,000 Active 228 DOM
9. 2026-06-08
   days on market $59,000 Active 227 DOM
10. 2026-06-07
    days on market $59,000 Active 226 DOM
11. 2026-06-05
    days on market $59,000 Active 223 DOM
12. 2026-06-03
    days on market $59,000 Active 222 DOM
13. 2026-06-02
    days on market $59,000 Active 221 DOM
14. 2026-06-01
    days on market $59,000 Active 220 DOM
15. 2026-05-31
    days on market $59,000 Active 219 DOM
16. 2026-05-30
    days on market $59,000 Active 218 DOM
17. 2025-10-24
    listed $59,000 Active

    Show marketing remark (729 chars)

    Excellent investment opportunity! 2 Unit Multi-Family Property! Ideal for investors or owner occupants, this versatile duplex offers great income potential. The property features two separate units: a 1-bedroom, 1 bath unit on the first floor and a 2-bedroom, 1-bath unit upstairs. The upper unit has been fully updated, offering modern finishes and move in ready appeal. The first floor unit will need some light updates such as new carpet in the bedroom and cleaning in the basement, allowing you to lease it right away. Currently, utilities are not separated but this should be an easy fix. Conveniently located near schools, parks and U of M, this property is a great opportunity to generate steady cash flow for a long term.

18. 2025-10-24
    listed $59,000 Active 729-char remark

    Show marketing remark (729 chars)

    Excellent investment opportunity! 2 Unit Multi-Family Property! Ideal for investors or owner occupants, this versatile duplex offers great income potential. The property features two separate units: a 1-bedroom, 1 bath unit on the first floor and a 2-bedroom, 1-bath unit upstairs. The upper unit has been fully updated, offering modern finishes and move in ready appeal. The first floor unit will need some light updates such as new carpet in the bedroom and cleaning in the basement, allowing you to lease it right away. Currently, utilities are not separated but this should be an easy fix. Conveniently located near schools, parks and U of M, this property is a great opportunity to generate steady cash flow for a long term.

19. 2025-09-08
    historical
20. 2025-09-08
    historical
21. 2025-08-13
    listed $55,000 Active
22. 2025-08-13
    listed $55,000 Active
23. 2025-06-13
    historical $725
24. 2025-05-01
    listed $725
25. 2025-01-28
    soldstatus $46,000
26. 2025-01-13
    soldstatus $46,000 Closed
27. 2025-01-13
    soldstatus $46,000 Closed
28. 2025-01-07
    status Pending
29. 2025-01-07
    status Pending
30. 2024-12-20
    price $54,900
31. 2024-12-19
    price $54,900
32. 2024-11-20
    listed $59,900 Active
33. 2024-11-20
    listed $59,900 Active
34. 2024-04-10
    historical $725
35. 2024-03-22
    listed $725
36. 2023-07-20
    historical
37. 2023-04-04
    soldstatus $37,500 Sold
38. 2023-04-04
    soldstatus $37,500 Sold
39. 2023-04-04
    soldstatus $37,500 Closed
40. 2023-04-04
    soldstatus $37,500 Closed
41. 2023-03-23
    status Pending
42. 2023-03-23
    status Pending
43. 2023-03-23
    status Pending
44. 2023-03-23
    status Pending
45. 2023-03-20
    listed $39,900 Active
46. 2023-03-20
    listed $39,900 Active
47. 2023-03-20
    listed $39,900 Active
48. 2023-03-20
    listed $39,900 Active
49. 2021-05-13
    soldstatus $20,000 Sold
50. 2021-05-13
    soldstatus $20,000 Closed

ⓘ 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: $1,567 · $131/mo
• Projected year-2 tax: $1,567 · $131/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $11,235
• − Mortgage interest: −$3,305
• − Property taxes: −$1,567
• − Insurance: −$295
• − Repairs & maintenance: −$899
• − Management: −$899
• − Depreciation: −$1,716
• Taxable income: $2,554
• Est. tax owed @ 24.0%: −$613
• After-tax cash flow: $2,688/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

-15.6% since first listed

56 events — show timeline

• 2025-10-24 Listed $59,000 MiRealSource-MiMLS
• 2025-10-24 Listed $59,000 REALCOMP
• 2025-09-08 Listing Removed — REALCOMP
• 2025-09-08 Listing Removed — MiRealSource-MiMLS
• 2025-08-13 Listed $55,000 REALCOMP
• 2025-08-13 Listed $55,000 MiRealSource-MiMLS
• 2025-06-13 Rental Removed $725 TENANTTURNER2
• 2025-05-01 Listed for Rent $725 TENANTTURNER2
• 2025-01-28 Sold (Public Records) $46,000 Public Records
• 2025-01-13 Sold (MLS) $46,000 REALCOMP
• 2025-01-13 Sold (MLS) $46,000 MiRealSource-MiMLS
• 2025-01-07 Pending — REALCOMP
• 2025-01-07 Pending — MiRealSource-MiMLS
• 2024-12-20 Price Changed $54,900 MiRealSource-MiMLS
• 2024-12-19 Price Changed $54,900 REALCOMP
• 2024-11-20 Listed $59,900 REALCOMP
• 2024-11-20 Listed $59,900 MiRealSource-MiMLS
• 2024-04-10 Rental Removed $725 APPFOLIO
• 2024-03-22 Listed for Rent $725 APPFOLIO
• 2023-07-20 Rental Removed — APPFOLIO
• 2023-04-04 Sold (MLS) $37,500 MiRealSource-MiMLS
• 2023-04-04 Sold (MLS) $37,500 MiRealSource-MiMLS
• 2023-04-04 Sold (MLS) $37,500 REALCOMP
• 2023-04-04 Sold (MLS) $37,500 REALCOMP
• 2023-03-23 Pending — REALCOMP
• 2023-03-23 Pending — REALCOMP
• 2023-03-23 Pending — MiRealSource-MiMLS
• 2023-03-23 Pending — MiRealSource-MiMLS
• 2023-03-20 Listed $39,900 MiRealSource-MiMLS
• 2023-03-20 Listed $39,900 MiRealSource-MiMLS
• 2023-03-20 Listed $39,900 REALCOMP
• 2023-03-20 Listed $39,900 REALCOMP
• 2021-05-13 Sold (MLS) $20,000 MiRealSource-MiMLS
• 2021-05-13 Sold (MLS) $20,000 REALCOMP
• 2021-05-09 Pending — MiRealSource-MiMLS
• 2021-05-09 Pending — REALCOMP
• 2021-04-20 Listed $29,900 MiRealSource-MiMLS
• 2021-04-20 Listed $29,900 REALCOMP
• 2021-04-18 Coming Soon $29,900 MiRealSource-MiMLS
• 2021-04-18 Coming Soon $29,900 REALCOMP
• 2018-12-24 Listing Removed — REALCOMP
• 2012-12-10 Listing Removed — MiRealSource-MiMLS
• 2011-01-27 Listing Removed — REALCOMP
• 2010-10-22 Listed $59,900 MiRealSource-MiMLS
• 2005-11-15 Sold (Public Records) $58,000 Public Records
• 2005-10-21 Sold (MLS) $58,000 REALCOMP
• 2005-10-21 Sold (MLS) $58,000 MiRealSource-MiMLS
• 2005-10-04 Listing Removed — MiRealSource-MiMLS
• 2005-02-07 Listed $61,500 REALCOMP
• 2005-02-07 Listed $61,500 MiRealSource-MiMLS
• 2005-02-07 Listed $61,500 REALCOMP
• 2005-02-07 Listed $61,500 MiRealSource-MiMLS
• 2005-02-07 Listing Removed — MiRealSource-MiMLS
• 2004-04-12 Listing Removed — MiRealSource-MiMLS
• 2004-04-12 Listed $69,900 MiRealSource-MiMLS
• 2004-04-12 Listed $69,900 REALCOMP

Property tax history

+7.4%/yr

Latest (2025): $1,567 · -6.1% YoY. Source: county tax records.