109 E Bishop Ave · Flint, MI 48505

$15,999

2 bd · 1.0 ba · 673 sqft · SingleFamily public records · 19 Days on market

Built 1917 3,049 sqft lot ↓ 38% since listing

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.3/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Investor Opportunity – Value-Add Rental with Immediate Cash Flow Potential Excellent opportunity for investors, landlords, and rehabbers seeking a value-add property with significant upside potential. This tenant-occupied home offers the ability to acquire an income-producing asset while implementing a strategic renovation plan to maximize future value. The property requires exterior and interior improvements including roof replacement, cosmetic updates, paint, deferred maintenance, and general rehabilitation, making it an ideal candidate for a fix-and-flip, BRRRR strategy, or long-term rental portfolio addition. Located in an established Flint neighborhood with convenient access to major roadways, shopping centers, schools, restaurants, employment hubs, public transportation, and everyday amenities. Properties with utilities currently active provide a substantial advantage in the City of Flint, reducing buyer costs and avoiding delays often associated with utility restoration and municipal inspections. Strong rental demand in the area combined with attractive after-repair value potential creates an opportunity for investors looking to increase equity through renovations. Whether your strategy is to renovate and resell, refinance and hold, or expand an existing rental portfolio, this property offers flexibility and upside at an attractive entry point. Property is currently tenant occupied. DO NOT DISTURB TENANT. All showings are strictly by appointment only with a minimum of 24-hour advance notice required. Buyer to verify all information, measurements, condition, rental information, and perform their own due diligence. Property sold as-is, where-is, with no warranties expressed or implied. Novation: Buyer has equitable interest in the property and is marketing the property with the owner's authorization in order to locate a new buyer.

Key facts

• Active utilities
• Convenient access
• Roof replacement

Tags

• TENANT OCCUPIED HOME
• ROOF REPLACEMENT
• COSMETIC UPDATES
• ESTABLISHED FLINT NEIGHBORHOOD
• CONVENIENT ACCESS
• ACTIVE UTILITIES

Property features AI

Finance

• Other: Located in FLINT PARK ALLOTMENT subdivision; Directions: From MLK Ave, head east on E Baltimore Blvd, turn north onto Industrial Ave, then east onto E Bishop Ave.

Exterior

• Parking: Attached garage, 1 car
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Vinyl siding exterior; Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 40 x 82 (0.07 acres)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Finished living space of 950; Basement present; Total of 4 rooms

🏷️ Possibly a rental listed for sale. The $15,999 price doesn't fit this home's estimated sale value (~$37,015) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $16k.

Deal economics

• At list price, monthly cash flow is $570 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($892 rent vs $16k).
• Recommended offer: $16k (1.5% below list) — sets the bar for market timing.
• Cap rate 49.1% 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: 99 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 32% of the median local income ($33k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $538 of equity ($110 loan paydown + $428 appreciation (2.7% local appreciation)).
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (2.7% appreciation + 3.0% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($16k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $4k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $15,759 (1.5% below list)

Questions for the listing agent

1. Built in 1917 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 5.57% ✓
• Cap rate: 49.07%
• Cash-on-cash: 152.79%
• DSCR: 7.80
• GRM: 1.5

CMA / ARV

• ARV (on-the-fly): $37,015
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
203 E Stewart Ave	0.22mi	2/1.0	670 (-0%)	10mo	$37,000	$55	80
409 E Lyndon Ave	0.54mi	2/1.0	672 (-0%)	6mo	$4,500	$7	70
726 E Parkway Ave	0.70mi	2/1.0	641 (-5%)	7mo	$44,000	$69	54
1002 W Pierson Rd	0.72mi	2/1.0	707 (+5%)	24mo	$23,000	$33	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

2.67% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.48×
• Total profit: $38,008
• Equity at exit: $6,902

10-year hold

• IRR: —
• Equity multiple: 19.93×
• Total profit: $84,780
• Equity at exit: $10,415

Cash invested: $4,480 (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 48505

• Home prices YoY: 1.3%
• Active inventory: 99
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $892 medium
• Mortgage (P&I): −$84
• Tax from tax record: −$43 /mo · $522/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $570

Break-even live

Break-even rent $170

Max offer price $15,999

Occupancy floor 31%

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: $4,000
• Closing costs: $480
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3506 Brownell Blvd Flint, MI	2.0	1.0	600	$825	$1.38	13d	1	1.36mi

Listing history 17 events

1. 2026-06-18
   days on market $15,999 Active 19 DOM
2. 2026-06-17
   days on market $15,999 Active 18 DOM
3. 2026-06-16
   days on market $15,999 Active 17 DOM
4. 2026-06-15
   pricedays on market $15,999 Active 16 DOM
5. 2026-06-14
   days on market $16,999 Active 14 DOM
6. 2026-06-13
   pricedays on market $16,999 Active 13 DOM
7. 2026-06-10
   days on market $17,499 Active 11 DOM
8. 2026-06-09
   days on market $17,499 Active 10 DOM
9. 2026-06-08
   days on market $17,499 Active 9 DOM
10. 2026-06-07
    pricedays on market $17,499 Active 8 DOM
11. 2026-06-05
    pricedays on market $17,999 Active 5 DOM
12. 2026-06-03
    days on market $18,999 Active 4 DOM
13. 2026-06-03
    price $18,999 Active 3 DOM
14. 2026-06-02
    days on market $19,999 Active 3 DOM
15. 2026-06-01
    days on market $19,999 Active 2 DOM
16. 2026-05-30
    remarks 693-char remark
17. 2026-05-30
    listed $19,999 Active 1 DOM

ⓘ 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: $522 · $43/mo
• Projected year-2 tax: $522 · $43/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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,700
• − Mortgage interest: −$896
• − Property taxes: −$522
• − Insurance: −$80
• − Repairs & maintenance: −$856
• − Management: −$856
• − Depreciation: −$465
• Taxable income: $7,025
• Est. tax owed @ 24.0%: −$1,686
• After-tax cash flow: $5,159/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): 18,032
• Household income: $33,283
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 960.0

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 Black (79%)
• Race & ethnicity: Black 79% White 11% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 1% Iranian 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% 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: ▲ 2.67%
• Current HPI: 202.4878
• 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

-38.5% since first listed

26 events — show timeline

• 2026-05-27 Listed $19,999 REALCOMP
• 2026-05-27 Listed $19,999 MiRealSource-MiMLS
• 2026-05-23 Listing Removed — MiRealSource-MiMLS
• 2026-05-23 Price Changed $19,999 MiRealSource-MiMLS
• 2026-05-22 Price Changed $19,999 REALCOMP
• 2026-05-17 Price Changed $21,999 MiRealSource-MiMLS
• 2026-05-16 Price Changed $21,999 REALCOMP
• 2026-05-15 Price Changed $22,900 MiRealSource-MiMLS
• 2026-05-15 Price Changed $22,900 REALCOMP
• 2026-05-10 Price Changed $23,499 MiRealSource-MiMLS
• 2026-05-09 Price Changed $23,499 REALCOMP
• 2026-04-28 Price Changed $26,399 MiRealSource-MiMLS
• 2026-04-28 Price Changed $26,399 REALCOMP
• 2026-04-27 Price Changed $26,499 MiRealSource-MiMLS
• 2026-04-26 Price Changed $26,499 REALCOMP
• 2026-04-23 Price Changed $26,999 MiRealSource-MiMLS
• 2026-04-23 Price Changed $26,999 REALCOMP
• 2026-04-21 Price Changed $27,999 MiRealSource-MiMLS
• 2026-04-21 Relisted — MiRealSource-MiMLS
• 2026-04-21 Relisted — REALCOMP
• 2026-04-21 Price Changed $27,999 REALCOMP
• 2026-04-20 Listing Removed — REALCOMP
• 2026-04-20 Pending — MiRealSource-MiMLS
• 2026-04-20 Pending — REALCOMP
• 2026-04-09 Listed $32,500 REALCOMP
• 2026-04-08 Listed $32,500 MiRealSource-MiMLS

Property tax history

+1.9%/yr

Latest (2025): $522 · +1.1% YoY. Source: county tax records.