1620 Mason St · Flint, MI 48503

$29,900

4 bd · 1.0 ba · 2,062 sqft · SingleFamily public records · 12 Days on market

Built 1924 8,712 sqft lot Est $29k · at est.

---

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 +5.9/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity to restore a large 4-bedroom brick home. All initial offers must be submitted via PropOffers.com

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1924

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $909 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $30k).
• Cap rate 42.8% 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: Rents rising fast (+12.3%/yr); 135 active listings in the ZIP; 1 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).
• This rent runs 41% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 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 + 8.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y 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 $5k; list at $30k implies a 498% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $29,900

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 5.05% ✓
• Cap rate: 42.76%
• Cash-on-cash: 130.23%
• DSCR: 6.79
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $28,868
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1620 Mason St	0.00mi	4/1.0	2,062 (0%)	1mo	$29,900	$15	99
1627 N Grand Traverse St	0.13mi	3/1.5 (-1)	1,752 (-15%)	20mo	$24,000	$14	46
1918 M L King Ave	0.31mi	3/1.5 (-1)	2,288 (+11%)	19mo	$15,000	$7	45
2223 Begole St	0.55mi	4/2.0	1,808 (-12%)	9mo	$30,000	$17	42
2321 Concord St	0.64mi	3/2.0 (-1)	1,761 (-15%)	9mo	$15,000	$9	29

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.29×
• Total profit: $61,070
• Equity at exit: $4,458

10-year hold

• IRR: —
• Equity multiple: 20.62×
• Total profit: $164,284
• Equity at exit: $2,585

Cash invested: $8,372 (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 48503

• Home prices YoY: -27.7%
• Rents YoY: 12.3%
• Active inventory: 135
• Price-to-rent: 1.7×

Monthly cashflow live

• Estimated rent: $1,509 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$115 /mo · $1,375/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $909

Break-even live

Break-even rent $359

Max offer price $29,900

Occupancy floor 35%

Sensitivity live

Price	-10% $1,006	-5% $917	+0% $909	+5% $900	+10% $892
Rent	-10% $789	-5% $849	+0% $909	+5% $968	+10% $1,028
Rate	-1.0pp $924	-0.5pp $916	base $909	+0.5pp $901	+1.0pp $893

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1510 Forest Hill Ave Flint, MI	4.0	2.0	2441	$1,800	$0.74	21d	1	0.80mi

Listing history 9 events

1. 2026-04-08
   status Pending

   Show marketing remark (113 chars)

   Rare opportunity to restore a large 4-bedroom brick home. All initial offers must be submitted via PropOffers.com

2. 2026-04-08
   status Pending 113-char remark

   Show marketing remark (113 chars)

   Rare opportunity to restore a large 4-bedroom brick home. All initial offers must be submitted via PropOffers.com

3. 2026-03-27
   listed $29,900 Active

   Show marketing remark (113 chars)

   Rare opportunity to restore a large 4-bedroom brick home. All initial offers must be submitted via PropOffers.com

4. 2026-03-27
   listed $29,900 Active 113-char remark

   Show marketing remark (113 chars)

   Rare opportunity to restore a large 4-bedroom brick home. All initial offers must be submitted via PropOffers.com

5. 2014-10-16
   soldstatus $5,000 129-char remark

   Show marketing remark (129 chars)

   WOW, huge home alert!!! Very nice price for a large 4 bedroom with a garage, basement, open kitchen, plenty of potential and more

6. 2014-10-16
   soldstatus $5,000

   Show marketing remark (129 chars)

   WOW, huge home alert!!! Very nice price for a large 4 bedroom with a garage, basement, open kitchen, plenty of potential and more

7. 2014-09-08
   historical 129-char remark

   Show marketing remark (129 chars)

   WOW, huge home alert!!! Very nice price for a large 4 bedroom with a garage, basement, open kitchen, plenty of potential and more

8. 2014-08-21
   listed $4,500 129-char remark

   Show marketing remark (129 chars)

   WOW, huge home alert!!! Very nice price for a large 4 bedroom with a garage, basement, open kitchen, plenty of potential and more

9. 2014-08-21
   listed $4,500

   Show marketing remark (129 chars)

   WOW, huge home alert!!! Very nice price for a large 4 bedroom with a garage, basement, open kitchen, plenty of potential and more

ⓘ 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: $1,375 · $115/mo
• Projected year-2 tax: $1,375 · $115/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 ≥96°F today · 14 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: $18,113
• − Mortgage interest: −$1,675
• − Property taxes: −$1,375
• − Insurance: −$150
• − Repairs & maintenance: −$1,449
• − Management: −$1,449
• − Depreciation: −$870
• Taxable income: $11,145
• Est. tax owed @ 24.0%: −$2,675
• After-tax cash flow: $8,228/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): 22,347
• Household income: $44,411
• Rent vs Own: 49.3% rent · 50.7% own
• Severe rent burden: 1293.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 55% White 36% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 5% · China, Canada
• Languages at home: 93% English-only · Arabic 4% Spanish 1% Chinese 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: ▼ -49.84%
• Current HPI: 130.1152
• Rent YoY: ▲ 12.35%
• 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

+564.4% since first listed

9 events — show timeline

• 2026-04-08 Pending — REALCOMP
• 2026-04-08 Pending — MiRealSource-MiMLS
• 2026-03-27 Listed $29,900 MiRealSource-MiMLS
• 2026-03-27 Listed $29,900 REALCOMP
• 2014-10-16 Sold (MLS) $5,000 REALCOMP
• 2014-10-16 Sold (MLS) $5,000 MiRealSource-MiMLS
• 2014-09-08 Listing Removed — MiRealSource-MiMLS
• 2014-08-21 Listed $4,500 REALCOMP
• 2014-08-21 Listed $4,500 MiRealSource-MiMLS

Property tax history

-0.9%/yr

Latest (2025): $1,375 · +1.8% YoY. Source: county tax records.