10149 Corunna #1 Rd · Clayton, MI 48473

$725

1 bd · 1.0 ba · 544 sqft · Condo · 30 Days on market

Built 1961

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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
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2-Six Unit buildings + 1 house + storage garages on 3.35 acres. Property needs lots of work but has excellent income potential in a rural type setting. Estate Sale.

Key facts

• Galley kitchen
• Updated interior
• Private balcony area

Tags

• GALLEY KITCHEN
• PRIVATE BALCONY AREA
• UPDATED INTERIOR

Property features AI

Finance

• Other: Property listed as residential income (multi-family)
• Financial info: No investor cash flow or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Private well water; Public sewer
• Home design: Multi-family residential income property; One story
• Construction: Slab foundation; 544 square feet above-grade finished area
• Exterior features: Approximately 3.35 acres lot

Interior

• Kitchen: No kitchen details provided
• Bedrooms: No bedroom count provided
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: One-level layout; Separate meters for heating
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $725.

Deal economics

• At list price, monthly cash flow is $833 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $725).
• Recommended offer: $714 (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#648 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: employment D, schools F, crime F.
• Swartz Creek Community Schools (suburban): math 23% / reading 44% proficiency, ranked #298 of 540 in MI (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 166 active listings in the ZIP; solid renter incomes; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• This rent is only 16% of the median local income ($78k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5 of loan paydown is wiped out by about $22 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 $203 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($714) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y 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.

Recommended offer $714 (1.5% below list)

Questions for the listing agent

1. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 146.32% ✓
• Cap rate: 1385.10%
• Cash-on-cash: 4924.31%
• DSCR: 220.10
• GRM: 0.1

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: —
• Equity multiple: 261.86×
• Total profit: $52,955
• Equity at exit: $108

10-year hold

• IRR: —
• Equity multiple: 565.02×
• Total profit: $114,495
• Equity at exit: $63

Cash invested: $203 (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 48473

• Active inventory: 166
• Price-to-rent: 0.1×

Monthly cashflow live

• Estimated rent: $1,061 medium
• Mortgage (P&I): −$4
• Tax est. 1.5%: −$1 /mo · $11/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $833

Break-even live

Break-even rent $6

Max offer price $725

Occupancy floor 16%

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: $181
• Closing costs: $22
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $725 Active 30 DOM
2. 2026-06-17
   days on market $725 Active 29 DOM
3. 2026-06-16
   days on market $725 Active 28 DOM
4. 2026-06-15
   days on market $725 Active 27 DOM
5. 2026-06-14
   days on market $725 Active 25 DOM
6. 2026-06-13
   days on market $725 Active 24 DOM
7. 2026-06-10
   days on market $725 Active 22 DOM
8. 2026-06-09
   days on market $725 Active 21 DOM
9. 2026-06-08
   days on market $725 Active 20 DOM
10. 2026-06-07
    days on market $725 Active 19 DOM
11. 2026-06-05
    days on market $725 Active 16 DOM
12. 2026-06-02
    days on market $725 Active 14 DOM
13. 2026-06-01
    days on market $725 Active 13 DOM
14. 2026-05-31
    days on market $725 Active 12 DOM
15. 2026-05-30
    days on market $725 Active 11 DOM
16. 2026-05-19
    listed $725 Active
17. 2024-09-11
    historical $675
18. 2024-08-28
    listed $675
19. 2024-08-14
    historical $675
20. 2024-07-23
    listed $675
21. 2024-03-14
    historical
22. 2023-12-30
    listed
23. 2022-11-20
    historical
24. 2018-03-19
    soldstatus $87,000 164-char remark

    Show marketing remark (164 chars)

    2-Six Unit buildings + 1 house + storage garages on 3.35 acres. Property needs lots of work but has excellent income potential in a rural type setting. Estate Sale.

25. 2018-03-19
    soldstatus $87,000 Closed 164-char remark

    Show marketing remark (164 chars)

    2-Six Unit buildings + 1 house + storage garages on 3.35 acres. Property needs lots of work but has excellent income potential in a rural type setting. Estate Sale.

26. 2017-11-22
    status Pending 164-char remark

    Show marketing remark (164 chars)

    2-Six Unit buildings + 1 house + storage garages on 3.35 acres. Property needs lots of work but has excellent income potential in a rural type setting. Estate Sale.

27. 2017-11-16
    historical 164-char remark

    Show marketing remark (164 chars)

    2-Six Unit buildings + 1 house + storage garages on 3.35 acres. Property needs lots of work but has excellent income potential in a rural type setting. Estate Sale.

28. 2017-09-18
    listed $283,000 Active 164-char remark

    Show marketing remark (164 chars)

    2-Six Unit buildings + 1 house + storage garages on 3.35 acres. Property needs lots of work but has excellent income potential in a rural type setting. Estate Sale.

29. 2017-08-04
    listed $283,000 164-char remark

    Show marketing remark (164 chars)

    2-Six Unit buildings + 1 house + storage garages on 3.35 acres. Property needs lots of work but has excellent income potential in a rural type setting. Estate Sale.

ⓘ 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: $12,730
• − Mortgage interest: −$41
• − Property taxes: −$11
• − Insurance: −$4
• − Repairs & maintenance: −$1,018
• − Management: −$1,018
• − Depreciation: −$21
• Taxable income: $10,617
• Est. tax owed @ 24.0%: −$2,548
• After-tax cash flow: $7,448/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: Swartz Creek Community Schools
• NCES district ID: 2633420
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $53,586
• Composite: 29.37/100
• National rank: #6530
• State rank: #298 of 540 in MI

Livability — Clayton

• Score: 57/100
• State rank: #648
• US rank: #22070

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Genesee County · 221,329 people
• Metro: Flint, MI
• Population (ZIP): 22,339
• Household income: $77,921
• Rent vs Own: 15.4% rent · 84.6% own
• Severe rent burden: 310.0

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 (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 6% Lithuanian 4% Slovak 3%
• Foreign-born: 2% · Canada, South Korea
• 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: ▼ -216.16%
• Current HPI: 208.5281
• 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

-69.3% since first listed

14 events — show timeline

• 2026-05-19 Listed $725 REALCOMP
• 2024-09-11 Rental Removed $675 APPFOLIO
• 2024-08-28 Listed for Rent $675 APPFOLIO
• 2024-08-14 Rental Removed $675 APPFOLIO
• 2024-07-23 Listed for Rent $675 APPFOLIO
• 2024-03-14 Rental Removed — APPFOLIO
• 2023-12-30 Listed for Rent — APPFOLIO
• 2022-11-20 Rental Removed — APPFOLIO
• 2018-03-19 Sold (MLS) $87,000 MiRealSource-MiMLS
• 2018-03-19 Sold (MLS) $87,000 REALCOMP
• 2017-11-22 Pending — MiRealSource-MiMLS
• 2017-11-16 Listing Removed — REALCOMP
• 2017-09-18 Listed $283,000 MiRealSource-MiMLS
• 2017-08-04 Listed $283,000 REALCOMP