213 E Lakeview Ave · Flint, MI 48503

$25,000

2 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 184 Days on market

Built 1950

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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
• 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

This home has great potential for the right person. Home needs work. .. .. .

Key facts

• 2 garage spots
• Built 1950
• Listed 184 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 34.6% 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: 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); 136 active listings in the ZIP; 12 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 $173 of loan paydown is wiped out by about $750 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 $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 184 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 184 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 1950 — 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: 4.13% ✓
• Cap rate: 34.64%
• Cash-on-cash: 101.23%
• DSCR: 5.50
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $77,532
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
352 Buckingham Ave	0.47mi	3/1.0 (+1)	1,055 (-3%)	0mo	$98,500	$93	67
326 Burroughs Ave	0.52mi	2/1.0	1,008 (-8%)	2mo	$47,500	$47	61
612 Alvord Ave	0.69mi	3/1.0 (+1)	1,082 (-1%)	4mo	$76,500	$71	58
609 Lippincott Blvd	0.70mi	3/1.0 (+1)	1,080 (-1%)	9mo	$40,000	$37	53
701 Waldman Ave	0.65mi	3/1.0 (+1)	1,063 (-3%)	11mo	$37,000	$35	52
4133 Custer Ave	0.66mi	2/1.5	1,192 (+9%)	3mo	$114,000	$96	50
2041 Warner Ave	0.73mi	3/1.0 (+1)	1,001 (-8%)	1mo	$24,000	$24	47
515 Leland St	0.56mi	3/1.0 (+1)	1,209 (+11%)	8mo	$93,000	$77	44
616 Waldman Ave	0.54mi	3/1.0 (+1)	956 (-12%)	9mo	$15,900	$17	41
727 Waldman Ave	0.69mi	3/1.0 (+1)	956 (-12%)	5mo	$79,600	$83	38
601 Buckingham Ave	0.69mi	2/1.0	942 (-14%)	9mo	$45,000	$48	38
4526 Milton Dr	0.71mi	3/1.0 (+1)	929 (-15%)	2mo	$90,000	$97	35

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: —
• Equity multiple: 6.58×
• Total profit: $39,064
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 16.35×
• Total profit: $107,479
• Equity at exit: $2,162

Cash invested: $7,000 (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: 136
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,033 high
• Mortgage (P&I): −$131
• Tax from tax record: −$84 /mo · $1,005/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $591

Break-even live

Break-even rent $285

Max offer price $25,000

Occupancy floor 38%

Sensitivity live

Price	-10% $605	-5% $598	+0% $591	+5% $583	+10% $576
Rent	-10% $509	-5% $550	+0% $591	+5% $631	+10% $672
Rate	-1.0pp $603	-0.5pp $597	base $591	+0.5pp $584	+1.0pp $577

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 12 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	0.63mi
4411 Red Arrow Rd Flint, MI	3.0	1.5	1200	$1,400	$1.17	14d	1	0.84mi
912 Waldman Ave Flint, MI	3.0	2.0	1223	$675	$0.55	14d	1	0.88mi
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	14d	1	0.90mi
3291 Glengary St Burton, MI	2.0	1.0	972	$1,075	$1.11	45d	1	1.12mi
805 E Hemphill Rd Flint, MI	3.0	1.5	1200	$1,000	$0.83	14d	1	1.14mi
1034 McKeighan Ave Flint, MI	3.0	1.0	1040	$1,250	$1.20	22d	1	1.18mi
4400 Kings Ln Burton, MI	1.0–2.0	1.0–2.0	666	$960	$1.44	14d	19	1.22mi
4509 Cheyenne Ave Flint, MI	3.0	1.5	1200	$1,400	$1.17	14d	1	1.24mi
1426 Pettibone Ave Flint, MI	2.0	1.0	750	$900	$1.20	22d	1	1.29mi
2266 Donovan St Burton, MI	2.0	1.0	700	$800	$1.14	14d	1	1.33mi
132 Pine Blf Flint, MI	3.0	2.0	960	$953	$0.99	45d	1	1.34mi

Listing history 5 events

1. 2024-12-17
   status Pending
2. 2023-04-20
   status Pending

   Show marketing remark (76 chars)

   This home has great potential for the right person. Home needs work. .. .. .

3. 2023-04-20
   status Pending 76-char remark

   Show marketing remark (76 chars)

   This home has great potential for the right person. Home needs work. .. .. .

4. 2022-10-18
   listed $25,000 Active

   Show marketing remark (76 chars)

   This home has great potential for the right person. Home needs work. .. .. .

5. 2022-10-18
   listed $25,000 Active 76-char remark

   Show marketing remark (76 chars)

   This home has great potential for the right person. Home needs work. .. .. .

ⓘ 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: $1,005 · $84/mo
• Projected year-2 tax: $1,005 · $84/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: $12,392
• − Mortgage interest: −$1,400
• − Property taxes: −$1,005
• − Insurance: −$125
• − Repairs & maintenance: −$991
• − Management: −$991
• − Depreciation: −$727
• Taxable income: $7,151
• Est. tax owed @ 24.0%: −$1,716
• After-tax cash flow: $5,370/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

5 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2023-04-20 Pending — REALCOMP
• 2023-04-20 Pending — MiRealSource-MiMLS
• 2022-10-18 Listed $25,000 MiRealSource-MiMLS
• 2022-10-18 Listed $25,000 REALCOMP

Property tax history

+6.1%/yr

Latest (2024): $1,005 · +2.2% YoY. Source: county tax records.