2902 Prospect St · Flint, MI 48504

$27,000

3 bd · 1.0 ba · 918 sqft · SingleFamily public records · 3 Days on market

Built 1969 4,792 sqft lot Est $44k · 39% under

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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
• ARV discount +15.0/15.0
• 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
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home features 3 bedrooms and spacious living room with hardwood flooring throughout. bathroom needs repair. Home has an attached garage and breezeway area. Send your offer today. All offfers must have subject to probate approval. Home needs some TLC. All offers are Subject to Probate approval. Priced for quick sale.

Key facts

• 4,792 sq ft lot
• Garage
• Built 1969

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $27k.

Deal economics

• At list price, monthly cash flow is $530 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($934 rent vs $27k).
• Cap rate 29.8% 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: 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.
• Zoned schools: Holmes Stem Middle School Academy (math 10% / reading 30%, grade F, #420 of 493 statewide, top 86%, 324 students, 90% FRL).
• Market conditions: 132 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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 $187 of loan paydown is wiped out by about $810 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $27,000

Questions for the listing agent

1. Built in 1969 — 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: 3.46% ✓
• Cap rate: 29.83%
• Cash-on-cash: 84.06%
• DSCR: 4.74
• GRM: 2.4

CMA / ARV

• ARV (on-the-fly): $44,064
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2622 Concord St	0.34mi	3/1.0	939 (+2%)	1mo	$7,000	$7	80
1271 Donaldson Blvd	0.48mi	3/1.0	926 (+1%)	0mo	$126,500	$137	76
2915 Berkley St	0.18mi	2/1.0 (-1)	987 (+8%)	4mo	$27,500	$28	71
2930 Prospect St	0.12mi	3/1.0	808 (-12%)	6mo	$17,900	$22	69
2602 Sloan St	0.50mi	3/1.0	955 (+4%)	2mo	$25,000	$26	68
2331 Welch Blvd	0.58mi	3/1.0	912 (-1%)	7mo	$69,900	$77	66
1457 Mitson Blvd	0.65mi	3/1.0	900 (-2%)	5mo	$48,000	$53	62
2606 Stevenson St	0.38mi	3/1.0	1,016 (+11%)	7mo	$60,000	$59	58
2101 Barth St	0.68mi	2/1.0 (-1)	905 (-1%)	5mo	$33,000	$36	57
3216 Walton Ave	0.64mi	3/1.0	1,040 (+13%)	1mo	$50,000	$48	48
2214 Mack Ave	0.74mi	3/1.0	1,008 (+10%)	6mo	$26,500	$26	44
3288 Kissner Ave	0.74mi	2/1.0 (-1)	780 (-15%)	8mo	$40,000	$51	29

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: 84.5%
• Equity multiple: 4.89×
• Total profit: $29,383
• Equity at exit: $4,026

10-year hold

• IRR: 87.7%
• Equity multiple: 10.14×
• Total profit: $69,131
• Equity at exit: $2,334

Cash invested: $7,560 (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: 132
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $934 high
• Mortgage (P&I): −$142
• Tax from tax record: −$56 /mo · $667/yr
• Insurance: −$11
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $530

Break-even live

Break-even rent $264

Max offer price $27,000

Occupancy floor 38%

Sensitivity live

Price	-10% $545	-5% $537	+0% $530	+5% $522	+10% $514
Rent	-10% $456	-5% $493	+0% $530	+5% $566	+10% $603
Rate	-1.0pp $543	-0.5pp $536	base $530	+0.5pp $523	+1.0pp $515

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: $6,750
• Closing costs: $810
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
314 Sheffield Ave Flint, MI	2.0	1.0	896	$1,250	$1.40	23d	1	1.17mi
3221 Burgess St Flint, MI	2.0	1.0	755	$875	$1.16	23d	1	1.18mi
3616 Concord St Unit CON3616 Flint, MI	3.0	2.0	960	$895	$0.93	46d	1	1.24mi
3506 Brownell Blvd Flint, MI	2.0	1.0	600	$825	$1.38	15d	1	1.26mi
2410 Gena Ann Ln Flint, MI	3.0	2.0	960	$895	$0.93	46d	1	1.28mi
2410 Gena Ann Ln Unit GEN2410 Flint, MI	3.0	2.0	960	$895	$0.93	46d	1	1.28mi
2332 Fredonia Ave Unit FRE2332 Flint, MI	3.0	2.0	960	$895	$0.93	46d	1	1.30mi
2419 Gena Ann Ln Unit GEN2419 Flint, MI	3.0	2.0	960	$895	$0.93	46d	1	1.32mi
2462 Gena Ann Ln Unit GEN2462 Flint, MI	3.0	2.0	960	$895	$0.93	46d	1	1.37mi
711 W Dewey St Flint, MI	3.0	1.0	1011	$925	$0.91	23d	1	1.38mi
3376 Preston Pl Unit PRE3376 Flint, MI	3.0	2.0	960	$895	$0.93	46d	1	1.39mi
806 Barney Ave Flint, MI	2.0	1.0	1000	$1,000	$1.00	23d	1	1.49mi

Listing history 4 events

1. 2025-10-30
   status Pending

   Show marketing remark (322 chars)

   This home features 3 bedrooms and spacious living room with hardwood flooring throughout. bathroom needs repair. Home has an attached garage and breezeway area. Send your offer today. All offfers must have subject to probate approval. Home needs some TLC. All offers are Subject to Probate approval. Priced for quick sale.

2. 2025-10-30
   status Pending 322-char remark

   Show marketing remark (322 chars)

   This home features 3 bedrooms and spacious living room with hardwood flooring throughout. bathroom needs repair. Home has an attached garage and breezeway area. Send your offer today. All offfers must have subject to probate approval. Home needs some TLC. All offers are Subject to Probate approval. Priced for quick sale.

3. 2025-10-26
   listed $27,000 Active

   Show marketing remark (322 chars)

   This home features 3 bedrooms and spacious living room with hardwood flooring throughout. bathroom needs repair. Home has an attached garage and breezeway area. Send your offer today. All offfers must have subject to probate approval. Home needs some TLC. All offers are Subject to Probate approval. Priced for quick sale.

4. 2025-10-26
   listed $27,000 Active 322-char remark

   Show marketing remark (322 chars)

   This home features 3 bedrooms and spacious living room with hardwood flooring throughout. bathroom needs repair. Home has an attached garage and breezeway area. Send your offer today. All offfers must have subject to probate approval. Home needs some TLC. All offers are Subject to Probate approval. Priced for quick sale.

ⓘ 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: $667 · $56/mo
• Projected year-2 tax: $667 · $56/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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,210
• − Mortgage interest: −$1,512
• − Property taxes: −$667
• − Insurance: −$135
• − Repairs & maintenance: −$897
• − Management: −$897
• − Depreciation: −$785
• Taxable income: $6,317
• Est. tax owed @ 24.0%: −$1,516
• After-tax cash flow: $4,839/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

+0.0% since first listed

4 events — show timeline

• 2025-10-30 Pending — REALCOMP
• 2025-10-30 Pending — MiRealSource-MiMLS
• 2025-10-26 Listed $27,000 REALCOMP
• 2025-10-26 Listed $27,000 MiRealSource-MiMLS

Property tax history

-1.3%/yr

Latest (2025): $667 · -6.9% YoY. Source: county tax records.