813 Chatham Dr · Flint, MI 48505

$36,500

3 bd · 1.5 ba · 1,413 sqft · SingleFamily public records · 21 Days on market

Built 1958 6,098 sqft lot Est $57k · 35% under

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Why this score? — see what drove the A- 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
• Appreciation +6.3/10.0
• 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

This well-built 3-bedroom ranch home in Flint offers fantastic value with only minimal rehab needed to make it your own. Perfect as either a comfortable primary residence or a strong investment property, this single-story ranch sits in a quiet neighborhood just down the street from Haselbring Park and delivers a practical, easy-to-maintain layout. The bright living room opens to a generous dining area, creating a great space for daily living. The kitchen is ready for your finishing touches, and all three bedrooms are conveniently located on the main floor. You'll appreciate the full bathroom on the main level along with a convenient half bath in the basement for added flexibility. The massive full basement provides excellent additional space with high ceilings - perfect for laundry, storage, a future rec room, or workshop. With solid bones and just light cosmetic work remaining, this home is an excellent opportunity for both first-time buyers and savvy investors looking for strong cash flow potential.

Key facts

• Ranch home
• Full bathroom
• Bright living room

Tags

• RANCH HOME
• QUIET NEIGHBORHOOD
• HASELBRING PARK
• BRIGHT LIVING ROOM
• GENEROUS DINING AREA
• FULL BATHROOM

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick exterior
• Construction: Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 54 x 115 (0.14 acres)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced-air heating with natural gas; No central cooling
• Interior features: Unfinished basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $532 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $36k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.8% vs local median 11.6% 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: 100 active listings in the ZIP; 8 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).
• 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 $1k of equity ($252 loan paydown + $976 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 19y 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 $8k; list at $36k implies a 356% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $35,952 (1.5% below list)

Questions for the listing agent

1. Built in 1958 — 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: 2.82% ✓
• Cap rate: 23.79%
• Cash-on-cash: 62.49%
• DSCR: 3.78
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $56,520
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 W Foss Ave	0.21mi	3/1.0	1,387 (-2%)	2mo	$6,900	$5	84
6610 Cranwood Dr	0.13mi	3/2.0	1,452 (+3%)	5mo	$78,000	$54	84
1323 Chatham Dr	0.26mi	3/1.5	1,374 (-3%)	2mo	$51,000	$37	82
5714 Suburban Ct	0.38mi	3/1.0	1,426 (+1%)	3mo	$63,500	$45	76
618 W Austin Ave	0.17mi	4/1.5 (+1)	1,500 (+6%)	3mo	$85,900	$57	74
510 Alma Rd	0.33mi	3/1.5	1,338 (-5%)	3mo	$50,000	$37	73
5705 Winthrop Blvd	0.39mi	3/1.0	1,375 (-3%)	4mo	$55,000	$40	72
6714 Cranwood Dr	0.19mi	3/1.5	1,562 (+10%)	2mo	$87,000	$56	72
5913 Glenn Ave	0.25mi	3/1.5	1,272 (-10%)	4mo	$35,000	$28	68
506 Alma St	0.33mi	3/1.5	1,230 (-13%)	3mo	$50,000	$41	60
634 W York Ave	0.28mi	3/1.5	1,204 (-15%)	5mo	$26,000	$22	58
5416 Dupont St	0.49mi	3/2.0	1,597 (+13%)	2mo	$38,000	$24	52

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: 67.0%
• Equity multiple: 4.69×
• Total profit: $37,704
• Equity at exit: $15,746

10-year hold

• IRR: 66.8%
• Equity multiple: 9.57×
• Total profit: $87,552
• Equity at exit: $23,762

Cash invested: $10,220 (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: 100
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,029 high
• Mortgage (P&I): −$191
• Tax from tax record: −$74 /mo · $893/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $532

Break-even live

Break-even rent $356

Max offer price $36,500

Occupancy floor 43%

Sensitivity live

Price	-10% $553	-5% $543	+0% $532	+5% $522	+10% $512
Rent	-10% $451	-5% $492	+0% $532	+5% $573	+10% $614
Rate	-1.0pp $551	-0.5pp $542	base $532	+0.5pp $523	+1.0pp $513

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: $9,125
• Closing costs: $1,095
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6802 DuPont St Flint, MI	3.0	1.0	1200	$1,000	$0.83	22d	1	0.25mi
5813 Edwards Ave Flint, MI	3.0	1.0	1500	$899	$0.60	15d	1	0.26mi
514 W Alma Ave Flint, MI	3.0	1.0	894	$925	$1.03	15d	1	0.34mi
5413 DuPont St Flint, MI	4.0	1.5	1038	$900	$0.87	22d	1	0.48mi
5905 Griggs Dr Flint, MI	3.0	1.0	940	$1,000	$1.06	15d	1	0.60mi
100 Rosewood Mnr Flint, MI	2.0	1.5	1159	$947	$0.82	15d	1	0.62mi
411 W Marengo Ave Flint, MI	3.0	1.0	1350	$1,072	$0.79	15d	1	0.82mi
5280 Cedar Shores Ct Flint, MI	2.0–3.0	2.0	1150	$1,148	$1.00	15d	6	1.19mi

Listing history 28 events

1. 2026-06-02
   status $36,500 Pending 21 DOM
2. 2026-06-01
   days on market $36,500 Active Under Contract 21 DOM
3. 2026-05-31
   days on market $36,500 Active Under Contract 20 DOM
4. 2026-05-30
   days on market $36,500 Active Under Contract 19 DOM
5. 2026-05-19
   historical Accepting Backup Offers 1018-char remark

   Show marketing remark (1018 chars)

   This well-built 3-bedroom ranch home in Flint offers fantastic value with only minimal rehab needed to make it your own. Perfect as either a comfortable primary residence or a strong investment property, this single-story ranch sits in a quiet neighborhood just down the street from Haselbring Park and delivers a practical, easy-to-maintain layout. The bright living room opens to a generous dining area, creating a great space for daily living. The kitchen is ready for your finishing touches, and all three bedrooms are conveniently located on the main floor. You'll appreciate the full bathroom on the main level along with a convenient half bath in the basement for added flexibility. The massive full basement provides excellent additional space with high ceilings - perfect for laundry, storage, a future rec room, or workshop. With solid bones and just light cosmetic work remaining, this home is an excellent opportunity for both first-time buyers and savvy investors looking for strong cash flow potential.

6. 2026-05-19
   historical Active Under Contract

   Show marketing remark (1018 chars)

   This well-built 3-bedroom ranch home in Flint offers fantastic value with only minimal rehab needed to make it your own. Perfect as either a comfortable primary residence or a strong investment property, this single-story ranch sits in a quiet neighborhood just down the street from Haselbring Park and delivers a practical, easy-to-maintain layout. The bright living room opens to a generous dining area, creating a great space for daily living. The kitchen is ready for your finishing touches, and all three bedrooms are conveniently located on the main floor. You'll appreciate the full bathroom on the main level along with a convenient half bath in the basement for added flexibility. The massive full basement provides excellent additional space with high ceilings - perfect for laundry, storage, a future rec room, or workshop. With solid bones and just light cosmetic work remaining, this home is an excellent opportunity for both first-time buyers and savvy investors looking for strong cash flow potential.

7. 2026-05-11
   listed $36,500 Active

   Show marketing remark (1018 chars)

   This well-built 3-bedroom ranch home in Flint offers fantastic value with only minimal rehab needed to make it your own. Perfect as either a comfortable primary residence or a strong investment property, this single-story ranch sits in a quiet neighborhood just down the street from Haselbring Park and delivers a practical, easy-to-maintain layout. The bright living room opens to a generous dining area, creating a great space for daily living. The kitchen is ready for your finishing touches, and all three bedrooms are conveniently located on the main floor. You'll appreciate the full bathroom on the main level along with a convenient half bath in the basement for added flexibility. The massive full basement provides excellent additional space with high ceilings - perfect for laundry, storage, a future rec room, or workshop. With solid bones and just light cosmetic work remaining, this home is an excellent opportunity for both first-time buyers and savvy investors looking for strong cash flow potential.

8. 2026-05-11
   listed $36,500 Active 1018-char remark

   Show marketing remark (1018 chars)

   This well-built 3-bedroom ranch home in Flint offers fantastic value with only minimal rehab needed to make it your own. Perfect as either a comfortable primary residence or a strong investment property, this single-story ranch sits in a quiet neighborhood just down the street from Haselbring Park and delivers a practical, easy-to-maintain layout. The bright living room opens to a generous dining area, creating a great space for daily living. The kitchen is ready for your finishing touches, and all three bedrooms are conveniently located on the main floor. You'll appreciate the full bathroom on the main level along with a convenient half bath in the basement for added flexibility. The massive full basement provides excellent additional space with high ceilings - perfect for laundry, storage, a future rec room, or workshop. With solid bones and just light cosmetic work remaining, this home is an excellent opportunity for both first-time buyers and savvy investors looking for strong cash flow potential.

9. 2017-07-31
   status Pending
10. 2017-07-13
    status Active
11. 2017-06-20
    status Pending
12. 2017-06-16
    listed $17,000 Active
13. 2017-06-08
    listed $17,000 66-char remark

    Show marketing remark (66 chars)

    Great investment property. Well maintained with finished basement.

14. 2009-05-22
    soldstatus $8,000
15. 2009-05-22
    soldstatus $8,000
16. 2009-05-12
    historical
17. 2009-05-01
    listed $10,900
18. 2009-05-01
    listed $10,900
19. 2007-10-12
    soldstatus $65,000
20. 2007-10-12
    soldstatus $65,000
21. 2007-08-08
    listed $69,900
22. 2007-08-08
    historical
23. 2007-08-08
    listed $69,900
24. 2007-06-28
    soldstatus $10,000
25. 2007-06-28
    soldstatus $10,000
26. 2007-06-15
    historical
27. 2007-04-27
    listed $14,900
28. 2007-04-27
    listed $14,900

ⓘ 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: $893 · $74/mo
• Projected year-2 tax: $893 · $74/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: $12,354
• − Mortgage interest: −$2,045
• − Property taxes: −$893
• − Insurance: −$182
• − Repairs & maintenance: −$988
• − Management: −$988
• − Depreciation: −$1,062
• Taxable income: $6,195
• Est. tax owed @ 24.0%: −$1,487
• After-tax cash flow: $4,900/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

+145.0% since first listed

24 events — show timeline

• 2026-05-19 Contingent — MiRealSource-MiMLS
• 2026-05-19 Contingent — REALCOMP
• 2026-05-11 Listed $36,500 REALCOMP
• 2026-05-11 Listed $36,500 MiRealSource-MiMLS
• 2017-07-31 Pending — MiRealSource-MiMLS
• 2017-07-13 Relisted — MiRealSource-MiMLS
• 2017-06-20 Pending — MiRealSource-MiMLS
• 2017-06-16 Listed $17,000 MiRealSource-MiMLS
• 2017-06-08 Listed $17,000 REALCOMP
• 2009-05-22 Sold (MLS) $8,000 MiRealSource-MiMLS
• 2009-05-22 Sold (MLS) $8,000 REALCOMP
• 2009-05-12 Listing Removed — MiRealSource-MiMLS
• 2009-05-01 Listed $10,900 MiRealSource-MiMLS
• 2009-05-01 Listed $10,900 REALCOMP
• 2007-10-12 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2007-10-12 Sold (MLS) $65,000 REALCOMP
• 2007-08-08 Listed $69,900 MiRealSource-MiMLS
• 2007-08-08 Listing Removed — MiRealSource-MiMLS
• 2007-08-08 Listed $69,900 REALCOMP
• 2007-06-28 Sold (MLS) $10,000 MiRealSource-MiMLS
• 2007-06-28 Sold (MLS) $10,000 REALCOMP
• 2007-06-15 Listing Removed — MiRealSource-MiMLS
• 2007-04-27 Listed $14,900 MiRealSource-MiMLS
• 2007-04-27 Listed $14,900 REALCOMP

Property tax history

+0.1%/yr

Latest (2025): $893 · +1.6% YoY. Source: county tax records.