2923 Winona St · Flint, MI 48504

$45,000

2 bd · 1.0 ba · 829 sqft · SingleFamily public records · 15 Days on market

Built 1928 Est $40k · 13% over

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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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks

House and quiet part of town nice neighborhood tree line street.

Key facts

• Built 1928
• Listed 15 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($880 rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.2% 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: 131 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $311 of loan paydown is wiped out by about $1k 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 + 3.0% rent growth), your $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 27y 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 $9k; list at $45k implies a 406% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.95% ✓
• Cap rate: 16.15%
• Cash-on-cash: 35.22%
• DSCR: 2.57
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $39,792
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2713 Brownell Blvd	0.15mi	2/1.0	728 (-12%)	5mo	$35,000	$48	69
3221 Burgess St	0.35mi	2/1.0	755 (-9%)	3mo	$15,900	$21	66
2613 Brownell Blvd	0.22mi	3/1.0 (+1)	911 (+10%)	4mo	$78,000	$86	65
2495 Lavelle Rd	0.57mi	3/1.0 (+1)	822 (-1%)	6mo	$17,500	$21	62
3501 Fleming Rd	0.38mi	2/1.0	764 (-8%)	12mo	$25,000	$33	60
1713 W Dartmouth St	0.20mi	3/1.0 (+1)	720 (-13%)	5mo	$69,900	$97	60
3143 Maywood Dr	0.58mi	3/1.0 (+1)	882 (+6%)	1mo	$35,000	$40	57
3419 Leerda St	0.30mi	3/1.0 (+1)	938 (+13%)	4mo	$25,500	$27	55
2331 Welch Blvd	0.42mi	3/1.0 (+1)	912 (+10%)	7mo	$69,900	$77	53
1406 W Paterson St	0.70mi	2/1.0	893 (+8%)	10mo	$27,000	$30	46
3418 Keyes St	0.74mi	2/1.0	900 (+9%)	7mo	$69,000	$77	45
3171 W Dartmouth St	0.54mi	2/1.0	730 (-12%)	12mo	$58,000	$79	45

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: 30.8%
• Equity multiple: 2.29×
• Total profit: $16,282
• Equity at exit: $6,710

10-year hold

• IRR: 38.0%
• Equity multiple: 4.54×
• Total profit: $44,594
• Equity at exit: $3,891

Cash invested: $12,600 (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 48504

• Active inventory: 131
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $880 high
• Mortgage (P&I): −$236
• Tax from tax record: −$70 /mo · $845/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $370

Break-even live

Break-even rent $412

Max offer price $45,000

Occupancy floor 53%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 10 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	0.30mi
3221 Burgess St Flint, MI	2.0	1.0	755	$875	$1.16	20d	1	0.36mi
711 W Dewey St Flint, MI	3.0	1.0	1011	$925	$0.91	20d	1	0.77mi
2410 Gena Ann Ln Flint, MI	3.0	2.0	960	$895	$0.93	44d	1	0.91mi
2410 Gena Ann Ln Unit GEN2410 Flint, MI	3.0	2.0	960	$895	$0.93	43d	1	0.91mi
2462 Gena Ann Ln Unit GEN2462 Flint, MI	3.0	2.0	960	$895	$0.93	43d	1	0.92mi
3376 Preston Pl Unit PRE3376 Flint, MI	3.0	2.0	960	$895	$0.93	43d	1	0.94mi
2419 Gena Ann Ln Unit GEN2419 Flint, MI	3.0	2.0	960	$895	$0.93	43d	1	0.94mi
3616 Concord St Unit CON3616 Flint, MI	3.0	2.0	960	$895	$0.93	43d	1	1.05mi
2332 Fredonia Ave Unit FRE2332 Flint, MI	3.0	2.0	960	$895	$0.93	43d	1	1.08mi

Listing history 12 events

1. 2026-06-16
   days on market $45,000 Active 15 DOM
2. 2026-06-15
   days on market $45,000 Active 14 DOM
3. 2026-06-14
   days on market $45,000 Active 12 DOM
4. 2026-06-13
   days on market $45,000 Active 11 DOM
5. 2026-06-10
   days on market $45,000 Active 9 DOM
6. 2026-06-09
   days on market $45,000 Active 8 DOM
7. 2026-06-08
   days on market $45,000 Active 7 DOM
8. 2026-06-07
   days on market $45,000 Active 6 DOM
9. 2026-06-05
   days on market $45,000 Active 3 DOM
10. 2026-06-03
    days on market $45,000 Active 2 DOM
11. 2026-06-01
    remarks 64-char remark
12. 2026-06-01
    listed $45,000 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: $845 · $70/mo
• Projected year-2 tax: $845 · $70/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 ≥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: $10,556
• − Mortgage interest: −$2,521
• − Property taxes: −$845
• − Insurance: −$225
• − Repairs & maintenance: −$844
• − Management: −$844
• − Depreciation: −$1,309
• Taxable income: $3,967
• Est. tax owed @ 24.0%: −$952
• After-tax cash flow: $3,485/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
• City population: 93,814
• Population (ZIP): 23,873

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 (66%)
• Race & ethnicity: Black 66% White 24% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -101.67%
• Current HPI: 94.3111
• 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

+28.9% since first listed

28 events — show timeline

• 2026-06-01 Listed $45,000 FSBO.com
• 2010-12-06 Listing Removed — REALCOMP
• 2010-12-06 Listing Removed — REALCOMP
• 2010-12-03 Listing Removed — REALCOMP
• 2010-12-03 Listing Removed — REALCOMP
• 2004-03-01 Sold (Public Records) $8,900 Public Records
• 2004-02-23 Sold (MLS) $8,900 REALCOMP
• 2004-02-23 Sold (MLS) $8,900 MiRealSource-MiMLS
• 2004-02-04 Listing Removed — MiRealSource-MiMLS
• 2003-06-06 Listed $8,900 REALCOMP
• 2003-06-06 Listed $8,900 MiRealSource-MiMLS
• 2002-07-26 Listing Removed — MiRealSource-MiMLS
• 2002-02-27 Listed $49,000 MiRealSource-MiMLS
• 2002-02-27 Listed $49,000 REALCOMP
• 2001-12-10 Listed $49,000 MiRealSource-MiMLS
• 2001-12-10 Listing Removed — MiRealSource-MiMLS
• 2001-12-10 Listed $49,000 REALCOMP
• 2001-12-04 Sold (Public Records) $49,000 Public Records
• 2000-09-22 Listed $28,900 MiRealSource-MiMLS
• 2000-09-22 Listing Removed — MiRealSource-MiMLS
• 2000-09-22 Listing Removed — REALCOMP
• 2000-09-22 Listed $28,900 REALCOMP
• 1999-12-15 Listing Removed — MiRealSource-MiMLS
• 1999-12-15 Listed $34,900 MiRealSource-MiMLS
• 1999-12-15 Listed $34,900 REALCOMP
• 1999-08-04 Listed $34,900 MiRealSource-MiMLS
• 1999-08-04 Listing Removed — MiRealSource-MiMLS
• 1999-08-04 Listed $34,900 REALCOMP

Property tax history

-4.6%/yr

Latest (2025): $845 · +1.5% YoY. Source: county tax records.