4402 Crissman St

Flint, MI 48505

$53,967B

2 bd · 1.0 ba · 821 sqft · Built 1915 · SingleFamily · Active · 23 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $917/mo
• Mortgage (P&I): −$283
• Tax + insurance: −$84
• HOA: −$0
• Vac / Maint / Mgmt: −$193
• Net cashflow: $358/mo
• Annual: $4,295/yr
• Cap rate: 14.25%
• Cash-on-cash: 28.42%
• DSCR: 2.26
• 1% rule: 1.70%
• Cash to close: $15,111

Investor read

• This is a 2-bed/1.0-bath single-family listed at $54k.
• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($917 rent vs $54k).
• It's been on market 23 days — a 2% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $53k (1.5% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($373 loan paydown + $1k appreciation (2.7% local appreciation)).
• 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.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 99 active listings in the ZIP; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• Cap rate 14.3% 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.
• This rent runs 33% of the median local income ($33k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.