1323 Chatham Dr · Flint, MI 48505

$60,000

3 bd · 1.5 ba · 1,374 sqft · SingleFamily public records · 19 Days on market

Built 1963 6,970 sqft lot Est $55k · 9% over ↓ 14% since listing

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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
• Appreciation +6.3/10.0
• Livability +3.7/5.0
• ARV discount +3.4/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0

Listing remarks MLS

Step into Affordable Housing in this 3 Bedroom , 1 Full Bath, and 1 Half Bath, Full basement with 2 car attached garage all situated in a Park like setting!! All appliances stay, Stove , Refrigerator, Dishwasher, Washer & Dryer. Schedule a private showing today !!!

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 1963

Property features AI

Finance

• Other: Located south of Carpenter Rd, north of Pierson Rd, east of Sally Ct; cross streets Home Ave and Sally Ct
• Financial info: No additional financial details provided
• HOA & community: Subdivision: CHATHAM VILLAGE

Exterior

• Parking: Attached garage with 2 spaces
• Security: No security details provided
• Utilities: Water available; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick exterior
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Paved road access; Lot approximately 0.16 acres (70 x 100)

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Includes bedrooms (number not specified)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling system
• Interior features: 5 total rooms; Unfinished basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 11.5% in Flint — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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).
• This rent runs 37% 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 $2k of equity ($415 loan paydown + $2k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 4 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 $59,100 (1.5% below list)

Questions for the listing agent

1. Built in 1963 — 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: 1.73% ✓
• Cap rate: 14.05%
• Cash-on-cash: 27.72%
• DSCR: 2.23
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $54,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1323 Chatham Dr	0.00mi	3/1.5	1,374 (0%)	2mo	$51,000	$37	99
5705 Winthrop Blvd	0.35mi	3/1.0	1,375 (+0%)	4mo	$55,000	$40	78
605 W Foss Ave	0.47mi	3/1.0	1,387 (+1%)	2mo	$6,900	$5	73
5913 Glenn Ave	0.26mi	3/1.5	1,272 (-7%)	4mo	$35,000	$28	72
6610 Cranwood Dr	0.34mi	3/2.0	1,452 (+6%)	5mo	$78,000	$54	69
510 Alma Rd	0.57mi	3/1.5	1,338 (-3%)	3mo	$50,000	$37	66
5714 Suburban Ct	0.53mi	3/1.0	1,426 (+4%)	3mo	$63,500	$45	65
6714 Cranwood Dr	0.38mi	3/1.5	1,562 (+14%)	2mo	$87,000	$56	58
618 W Austin Ave	0.42mi	4/1.5 (+1)	1,500 (+9%)	3mo	$85,900	$57	58
506 Alma St	0.58mi	3/1.5	1,230 (-10%)	3mo	$50,000	$41	53
634 W York Ave	0.48mi	3/1.5	1,204 (-12%)	5mo	$26,000	$22	53
5302 Susan St	0.55mi	2/1.0 (-1)	1,508 (+10%)	6mo	$53,000	$35	46

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: 33.1%
• Equity multiple: 2.84×
• Total profit: $30,943
• Equity at exit: $25,884

10-year hold

• IRR: 33.7%
• Equity multiple: 5.57×
• Total profit: $76,853
• Equity at exit: $39,060

Cash invested: $16,800 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,036 high
• Mortgage (P&I): −$315
• Tax from tax record: −$91 /mo · $1,093/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $388

Break-even live

Break-even rent $545

Max offer price $60,000

Occupancy floor 58%

Sensitivity live

Price	-10% $422	-5% $405	+0% $388	+5% $371	+10% $354
Rent	-10% $306	-5% $347	+0% $388	+5% $429	+10% $470
Rate	-1.0pp $418	-0.5pp $403	base $388	+0.5pp $373	+1.0pp $357

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5813 Edwards Ave Flint, MI	3.0	1.0	1500	$899	$0.60	14d	1	0.38mi
5905 Griggs Dr Flint, MI	3.0	1.0	940	$1,000	$1.06	14d	1	0.39mi
6802 DuPont St Flint, MI	3.0	1.0	1200	$1,000	$0.83	21d	1	0.43mi
514 W Alma Ave Flint, MI	3.0	1.0	894	$925	$1.03	14d	1	0.56mi
5413 DuPont St Flint, MI	4.0	1.5	1038	$900	$0.87	21d	1	0.58mi
100 Rosewood Mnr Flint, MI	2.0	1.5	1159	$947	$0.82	14d	1	0.83mi
411 W Marengo Ave Flint, MI	3.0	1.0	1350	$1,072	$0.79	14d	1	0.96mi
5280 Cedar Shores Ct Flint, MI	2.0–3.0	2.0	1150	$1,148	$1.00	14d	6	1.05mi
2216 Obrien Rd Mount Morris, MI	3.0	2.0	1080	$1,000	$0.93	14d	1	1.49mi

Listing history 8 events

1. 2026-04-29
   status Pending 271-char remark

   Show marketing remark (271 chars)

   Step into Affordable Housing in this 3 Bedroom , 1 Full Bath, and 1 Half Bath, Full basement with 2 car attached garage all situated in a Park like setting!! All appliances stay, Stove , Refrigerator, Dishwasher, Washer & Dryer. Schedule a private showing today !!!

2. 2026-04-29
   status Pending

   Show marketing remark (271 chars)

   Step into Affordable Housing in this 3 Bedroom , 1 Full Bath, and 1 Half Bath, Full basement with 2 car attached garage all situated in a Park like setting!! All appliances stay, Stove , Refrigerator, Dishwasher, Washer & Dryer. Schedule a private showing today !!!

3. 2026-04-10
   listed $60,000 Active

   Show marketing remark (271 chars)

   Step into Affordable Housing in this 3 Bedroom , 1 Full Bath, and 1 Half Bath, Full basement with 2 car attached garage all situated in a Park like setting!! All appliances stay, Stove , Refrigerator, Dishwasher, Washer & Dryer. Schedule a private showing today !!!

4. 2026-04-10
   listed $60,000 Active 271-char remark

   Show marketing remark (271 chars)

   Step into Affordable Housing in this 3 Bedroom , 1 Full Bath, and 1 Half Bath, Full basement with 2 car attached garage all situated in a Park like setting!! All appliances stay, Stove , Refrigerator, Dishwasher, Washer & Dryer. Schedule a private showing today !!!

5. 2025-09-08
   historical
6. 2025-08-25
   listed $69,900 Active
7. 2025-08-25
   listed $69,900 Active
8. 2025-08-21
   historical

ⓘ 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: $1,093 · $91/mo
• Projected year-2 tax: $1,093 · $91/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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,438
• − Mortgage interest: −$3,361
• − Property taxes: −$1,093
• − Insurance: −$300
• − Repairs & maintenance: −$995
• − Management: −$995
• − Depreciation: −$1,745
• Taxable income: $3,948
• Est. tax owed @ 24.0%: −$948
• After-tax cash flow: $3,710/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

-14.2% since first listed

8 events — show timeline

• 2026-04-29 Pending — MiRealSource-MiMLS
• 2026-04-29 Pending — REALCOMP
• 2026-04-10 Listed $60,000 REALCOMP
• 2026-04-10 Listed $60,000 MiRealSource-MiMLS
• 2025-09-08 Listing Removed — MiRealSource-MiMLS
• 2025-08-25 Listed $69,900 MiRealSource-MiMLS
• 2025-08-25 Listed $69,900 REALCOMP
• 2025-08-21 Coming Soon — MiRealSource-MiMLS

Property tax history

+2.4%/yr

Latest (2025): $1,093 · +1.7% YoY. Source: county tax records.