1512 Crescent Lane Dr Lot#46 · Flint, MI 48532

$45,000

3 bd · 2.0 ba · 1,400 sqft · Manufactured · 173 Days on market

Built 1994 Good condition 3,200 sqft lot ↓ 10% since listing

---

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
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Roomy 3-bedroom 2 full bath home. Everything has been remodeled. It was taken down to the studs. Nice house priced to sell. The lot rent is $480 a month. Mobile home financing is available, or Seller financing with a large amount down would be considered.

Key facts

• 3,200 sq ft lot
• Built 1994
• Listed 173 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.7% 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.
• Carman-Ainsworth Community Schools (suburban): math 12% / reading 28% proficiency, ranked #468 of 540 in MI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 123 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 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 $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 ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.71% ✓
• Cap rate: 23.70%
• Cash-on-cash: 62.17%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 61.1%
• Equity multiple: 3.72×
• Total profit: $34,306
• Equity at exit: $6,710

10-year hold

• IRR: 65.7%
• Equity multiple: 7.63×
• Total profit: $83,487
• 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 48532

• Home prices YoY: -28.9%
• Active inventory: 123
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,220 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $653

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 41%

Sensitivity live

Price	-10% $684	-5% $668	+0% $653	+5% $637	+10% $622
Rent	-10% $556	-5% $605	+0% $653	+5% $701	+10% $749
Rate	-1.0pp $675	-0.5pp $664	base $653	+0.5pp $641	+1.0pp $629

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 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1415 S Linden Rd Flint, MI	2.0	1.0	1000	$1,000	$1.00	14d	1	0.67mi
2198 Utley Rd Flint, MI	3.0	2.0	1400	$1,400	$1.00	44d	1	0.79mi
3901 Herrick St Flint, MI	3.0	1.5	1100	$1,300	$1.18	14d	1	1.23mi
3929 Larchmont St Flint, MI	2.0	1.0	900	$1,100	$1.22	14d	1	1.24mi
3713 Gratiot Ave Flint, MI	4.0	1.0	1400	$1,400	$1.00	21d	1	1.38mi
806 Barney Ave Flint, MI	2.0	1.0	1000	$1,000	$1.00	21d	1	1.39mi

Listing history 8 events

1. 2026-06-02
   days on market $45,000 Active 173 DOM
2. 2026-06-01
   days on market $45,000 Active 172 DOM
3. 2026-05-31
   days on market $45,000 Active 171 DOM
4. 2026-05-30
   days on market $45,000 Active 170 DOM
5. 2026-02-17
   price $45,000 255-char remark

   Show marketing remark (255 chars)

   Roomy 3-bedroom 2 full bath home. Everything has been remodeled. It was taken down to the studs. Nice house priced to sell. The lot rent is $480 a month. Mobile home financing is available, or Seller financing with a large amount down would be considered.

6. 2026-02-16
   price $45,000 255-char remark

   Show marketing remark (255 chars)

   Roomy 3-bedroom 2 full bath home. Everything has been remodeled. It was taken down to the studs. Nice house priced to sell. The lot rent is $480 a month. Mobile home financing is available, or Seller financing with a large amount down would be considered.

7. 2025-12-11
   listed $50,000 Active 255-char remark

   Show marketing remark (255 chars)

   Roomy 3-bedroom 2 full bath home. Everything has been remodeled. It was taken down to the studs. Nice house priced to sell. The lot rent is $480 a month. Mobile home financing is available, or Seller financing with a large amount down would be considered.

8. 2025-12-11
   listed $50,000 Active 255-char remark

   Show marketing remark (255 chars)

   Roomy 3-bedroom 2 full bath home. Everything has been remodeled. It was taken down to the studs. Nice house priced to sell. The lot rent is $480 a month. Mobile home financing is available, or Seller financing with a large amount down would be considered.

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

Taxation est. · year 1

• Rental income: $14,640
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,171
• − Management: −$1,171
• − Depreciation: −$1,309
• Taxable income: $7,568
• Est. tax owed @ 24.0%: −$1,816
• After-tax cash flow: $6,018/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.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab

This well-maintained mobile home has been recently remodeled with new kitchen, bathrooms, and flooring. It is in good condition and ready for immediate occupancy.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping and adding curb appeal features — Improves curb appeal and enhances property value.
• Both Upgrading lighting fixtures — Enhances safety and aesthetics, making the home more attractive to potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping and adding curb appeal features — Improves curb appeal and enhances property value. ↑
• Both Upgrading lighting fixtures — Enhances safety and aesthetics, making the home more attractive to potential buyers/renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Carman-Ainsworth Community Schools
• NCES district ID: 2607890
• Math proficiency: 12% ▼ -14.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $39,394
• Composite: 16.84/100
• National rank: #9149
• State rank: #468 of 540 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

• City population: 93,814
• Population (ZIP): 19,750

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 51% Black 38% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Romanian 4% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Arabic 3% 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: ▼ -82.08%
• Current HPI: 202.407
• 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

-10.0% since first listed

4 events — show timeline

• 2026-02-17 Price Changed $45,000 MiRealSource-MiMLS
• 2026-02-16 Price Changed $45,000 REALCOMP
• 2025-12-11 Listed $50,000 REALCOMP
• 2025-12-11 Listed $50,000 MiRealSource-MiMLS