2321 Levern St · Flint, MI 48506

$11,900

3 bd · 1.0 ba · 870 sqft · SingleFamily public records · 95 Days on market

Built 1951 3,920 sqft lot ↓ 15% since listing

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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
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Investment/flip opportunity on this 3 bedroom, 1 full bathroom home, with 1.5 car detached garage, on almost an acre lot.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1951

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $12k.

Deal economics

• At list price, monthly cash flow is $688 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $12k).
• Recommended offer: $11k (9.0% below list) — sets the bar for market timing.
• Cap rate 75.7% 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: 202 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $82 of loan paydown is wiped out by about $357 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($11k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $2k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $10,829 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 8.20% ✓
• Cap rate: 75.70%
• Cash-on-cash: 247.90%
• DSCR: 12.03
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $47,850
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2908 Douglas Ave	0.40mi	2/1.0 (-1)	823 (-5%)	2mo	$68,900	$84	66
1622 New York Ave	0.54mi	3/1.0	839 (-4%)	6mo	$34,500	$41	64
2925 Colorado Ave	0.63mi	3/1.0	900 (+3%)	3mo	$25,000	$28	62
3006 Arizona Ave	0.71mi	3/1.0	900 (+3%)	1mo	$92,900	$103	60
3220 Woodrow Ave	0.62mi	3/1.0	910 (+5%)	5mo	$71,000	$78	59
3213 Holly Ave	0.63mi	3/1.0	799 (-8%)	3mo	$34,000	$43	55
1220 Minnesota Ave	0.74mi	2/1.0 (-1)	884 (+2%)	7mo	$26,500	$30	52
1644 Pennsylvania Ave	0.73mi	2/1.0 (-1)	839 (-4%)	6mo	$43,000	$51	50
3016 Oklahoma Ave	0.49mi	2/1.0 (-1)	746 (-14%)	1mo	$54,400	$73	48
2613 Pennsylvania Ave	0.53mi	2/1.0 (-1)	745 (-14%)	3mo	$16,000	$21	44
1612 Iowa Ave	0.69mi	3/1.0	770 (-12%)	7mo	$42,000	$55	43
3121 Thom St	0.66mi	2/1.0 (-1)	984 (+13%)	7mo	$62,900	$64	36

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: —
• Equity multiple: 13.58×
• Total profit: $41,926
• Equity at exit: $1,774

10-year hold

• IRR: —
• Equity multiple: 28.92×
• Total profit: $93,019
• Equity at exit: $1,029

Cash invested: $3,332 (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 48506

• Active inventory: 202
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $975 high
• Mortgage (P&I): −$62
• Tax est. 1.5%: −$15 /mo · $178/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $688

Break-even live

Break-even rent $104

Max offer price $11,900

Occupancy floor 24%

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: $2,975
• Closing costs: $357
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2621 Churchill Ave Flint, MI	2.0	1.0	736	$795	$1.08	13d	1	0.24mi
2311 N Averill Ave Unit Main Flint, MI	3.0	1.0	950	$1,200	$1.26	13d	1	0.67mi
1553 Illinois Ave Flint, MI	2.0	1.0	702	$900	$1.28	21d	1	0.68mi
1605 Kearsley Park Blvd Flint, MI	2.0	1.0	875	$975	$1.11	13d	1	0.74mi
3618 Branch Rd Flint, MI	2.0	1.0	950	$950	$1.00	13d	1	0.87mi
501 S Meade St Flint, MI	2.0	1.0	850	$695	$0.82	13d	1	1.06mi
3901 N Averill Apt #307 Ave heuristic Flint, MI	2.0	1.0	850	$975	$1.15	7d	1	1.09mi

Listing history 8 events

1. 2026-04-10
   status Pending 121-char remark

   Show marketing remark (121 chars)

   Investment/flip opportunity on this 3 bedroom, 1 full bathroom home, with 1.5 car detached garage, on almost an acre lot.

2. 2026-04-10
   status Pending

   Show marketing remark (121 chars)

   Investment/flip opportunity on this 3 bedroom, 1 full bathroom home, with 1.5 car detached garage, on almost an acre lot.

3. 2026-02-18
   price $11,900 121-char remark

   Show marketing remark (121 chars)

   Investment/flip opportunity on this 3 bedroom, 1 full bathroom home, with 1.5 car detached garage, on almost an acre lot.

4. 2026-02-18
   price $11,900

   Show marketing remark (121 chars)

   Investment/flip opportunity on this 3 bedroom, 1 full bathroom home, with 1.5 car detached garage, on almost an acre lot.

5. 2026-01-21
   price $12,900 121-char remark

   Show marketing remark (121 chars)

   Investment/flip opportunity on this 3 bedroom, 1 full bathroom home, with 1.5 car detached garage, on almost an acre lot.

6. 2026-01-21
   price $12,900

   Show marketing remark (121 chars)

   Investment/flip opportunity on this 3 bedroom, 1 full bathroom home, with 1.5 car detached garage, on almost an acre lot.

7. 2026-01-02
   listed $14,000 Active 121-char remark

   Show marketing remark (121 chars)

   Investment/flip opportunity on this 3 bedroom, 1 full bathroom home, with 1.5 car detached garage, on almost an acre lot.

8. 2026-01-02
   listed $14,000 Active

   Show marketing remark (121 chars)

   Investment/flip opportunity on this 3 bedroom, 1 full bathroom home, with 1.5 car detached garage, on almost an acre lot.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $11,705
• − Mortgage interest: −$667
• − Property taxes: −$178
• − Insurance: −$60
• − Repairs & maintenance: −$936
• − Management: −$936
• − Depreciation: −$346
• Taxable income: $8,581
• Est. tax owed @ 24.0%: −$2,060
• After-tax cash flow: $6,200/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): 24,712
• Household income: $47,929
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 954.0

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 White (76%)
• Race & ethnicity: White 76% Black 9% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 6% Romanian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -173.31%
• Current HPI: 90.0494
• 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

-15.0% since first listed

8 events — show timeline

• 2026-04-10 Pending — MiRealSource-MiMLS
• 2026-04-10 Pending — REALCOMP
• 2026-02-18 Price Changed $11,900 MiRealSource-MiMLS
• 2026-02-18 Price Changed $11,900 REALCOMP
• 2026-01-21 Price Changed $12,900 MiRealSource-MiMLS
• 2026-01-21 Price Changed $12,900 REALCOMP
• 2026-01-02 Listed $14,000 REALCOMP
• 2026-01-02 Listed $14,000 MiRealSource-MiMLS

Property tax history

+6.9%/yr

Latest (2025): $1,172 · +89.7% YoY. Source: county tax records.