951 Knapp Ave · Flint, MI 48503

$22,500

3 bd · 2.0 ba · 1,142 sqft · SingleFamily public records · 23 Days on market

Built 1929 ↓ 25% since listing

---

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
• 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

In-law Apartment Or Rental Upstairs With Separate Entrance. Corner Lot With 2 Car Detached Garage. Well Maintained For Age Does Need Vinyl Siding. Sold, as Is, Where Is.

Key facts

• Built 1929
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $730 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $22k (1.5% below list) — sets the bar for market timing.
• Cap rate 45.2% 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• This rent runs 31% 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 $156 of loan paydown is wiped out by about $675 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 31y 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 $15k; list at $22k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,162 (1.5% below list)

Questions for the listing agent

1. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 5.04% ✓
• Cap rate: 45.22%
• Cash-on-cash: 139.03%
• DSCR: 7.19
• GRM: 1.7

CMA / ARV

• ARV (on-the-fly): $47,964
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2710 Mansfield Ave	0.27mi	3/1.0	1,200 (+5%)	4mo	$115,000	$96	72
3018 Fielding St	0.07mi	3/1.0	993 (-13%)	1mo	$21,000	$21	70
874 Tacken St	0.52mi	3/1.0	1,126 (-1%)	3mo	$30,000	$27	67
1202 Knapp Ave	0.25mi	3/1.0	1,255 (+10%)	3mo	$49,900	$40	65
3709 Brentwood Dr	0.51mi	3/1.0	1,176 (+3%)	3mo	$130,000	$111	64
1205 Stocker Ave	0.27mi	3/1.5	1,024 (-10%)	5mo	$55,000	$54	64
1555 Bradley Ave	0.60mi	3/1.0	1,107 (-3%)	3mo	$45,000	$41	60
3722 Larchmont St	0.68mi	3/1.0	1,128 (-1%)	4mo	$47,000	$42	59
1114 Clancy Ave	0.26mi	2/1.0 (-1)	1,009 (-12%)	3mo	$36,000	$36	57
2624 Miller Rd	0.64mi	3/2.0	1,220 (+7%)	4mo	$82,000	$67	56
2621 Swayze St	0.39mi	2/1.0 (-1)	1,043 (-9%)	3mo	$76,950	$74	56
1409 Stocker Ave	0.39mi	2/1.0 (-1)	1,290 (+13%)	1mo	$50,250	$39	51

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: 8.76×
• Total profit: $48,863
• Equity at exit: $3,355

10-year hold

• IRR: —
• Equity multiple: 21.60×
• Total profit: $129,802
• Equity at exit: $1,945

Cash invested: $6,300 (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: $1,135 high
• Mortgage (P&I): −$118
• Tax from tax record: −$39 /mo · $470/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $730

Break-even live

Break-even rent $211

Max offer price $22,500

Occupancy floor 31%

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: $5,625
• Closing costs: $675
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
806 Barney Ave Flint, MI	2.0	1.0	1000	$1,000	$1.00	21d	1	0.25mi
2610 Swayze St Flint, MI	3.0	1.5	1194	$950	$0.80	21d	1	0.37mi
1410 Bradley Ave Flint, MI	3.0	1.5	1160	$995	$0.86	21d	1	0.44mi
3713 Gratiot Ave Flint, MI	4.0	1.0	1400	$1,400	$1.00	21d	1	0.47mi
3701 Whitney Ave Flint, MI	2.0	1.0	850	$900	$1.06	13d	1	0.49mi
314 Sheffield Ave Flint, MI	2.0	1.0	896	$1,250	$1.40	21d	1	0.52mi
3901 Herrick St Flint, MI	3.0	1.5	1100	$1,300	$1.18	13d	1	0.65mi
3929 Larchmont St Flint, MI	2.0	1.0	900	$1,100	$1.22	13d	1	0.77mi
2428 Norbert St Flint, MI	3.0	1.0	1200	$1,250	$1.04	21d	1	0.90mi
2544 Tyrone St Flint, MI	2.0	1.0	1440	$825	$0.57	13d	1	1.02mi
2198 Utley Rd Flint, MI	3.0	2.0	1400	$1,400	$1.00	43d	1	1.17mi

Listing history 38 events

1. 2026-06-18
   days on market $22,500 Active 23 DOM
2. 2026-06-17
   days on market $22,500 Active 22 DOM
3. 2026-06-16
   days on market $22,500 Active 21 DOM
4. 2026-06-15
   days on market $22,500 Active 20 DOM
5. 2026-06-14
   days on market $22,500 Active 18 DOM
6. 2026-06-13
   days on market $22,500 Active 17 DOM
7. 2026-06-10
   days on market $22,500 Active 15 DOM
8. 2026-06-09
   days on market $22,500 Active 14 DOM
9. 2026-06-08
   days on market $22,500 Active 13 DOM
10. 2026-06-07
    days on market $22,500 Active 12 DOM
11. 2026-06-05
    days on market $22,500 Active 9 DOM
12. 2026-06-03
    days on market $22,500 Active 8 DOM
13. 2026-06-02
    days on market $22,500 Active 7 DOM
14. 2026-06-01
    days on market $22,500 Active 6 DOM
15. 2026-05-31
    days on market $22,500 Active 5 DOM
16. 2026-05-30
    days on market $22,500 Active 4 DOM
17. 2026-05-26
    listed $22,500 Active
18. 2010-12-06
    historical
19. 2010-04-02
    soldstatus $15,000 169-char remark

    Show marketing remark (169 chars)

    In-law Apartment Or Rental Upstairs With Separate Entrance. Corner Lot With 2 Car Detached Garage. Well Maintained For Age Does Need Vinyl Siding. Sold, as Is, Where Is.

20. 2010-04-02
    soldstatus $15,000

    Show marketing remark (169 chars)

    In-law Apartment Or Rental Upstairs With Separate Entrance. Corner Lot With 2 Car Detached Garage. Well Maintained For Age Does Need Vinyl Siding. Sold, as Is, Where Is.

21. 2010-02-22
    historical 169-char remark

    Show marketing remark (169 chars)

    In-law Apartment Or Rental Upstairs With Separate Entrance. Corner Lot With 2 Car Detached Garage. Well Maintained For Age Does Need Vinyl Siding. Sold, as Is, Where Is.

22. 2010-01-12
    listed $15,000 169-char remark

    Show marketing remark (169 chars)

    In-law Apartment Or Rental Upstairs With Separate Entrance. Corner Lot With 2 Car Detached Garage. Well Maintained For Age Does Need Vinyl Siding. Sold, as Is, Where Is.

23. 2010-01-12
    listed $15,000

    Show marketing remark (169 chars)

    In-law Apartment Or Rental Upstairs With Separate Entrance. Corner Lot With 2 Car Detached Garage. Well Maintained For Age Does Need Vinyl Siding. Sold, as Is, Where Is.

24. 2010-01-12
    historical

    Show marketing remark (169 chars)

    In-law Apartment Or Rental Upstairs With Separate Entrance. Corner Lot With 2 Car Detached Garage. Well Maintained For Age Does Need Vinyl Siding. Sold, as Is, Where Is.

25. 2010-01-12
    historical

    Show marketing remark (169 chars)

    In-law Apartment Or Rental Upstairs With Separate Entrance. Corner Lot With 2 Car Detached Garage. Well Maintained For Age Does Need Vinyl Siding. Sold, as Is, Where Is.

26. 2009-04-14
    listed $44,900
27. 2009-04-14
    listed $44,900
28. 2007-01-29
    soldstatus $61,000
29. 2006-05-18
    historical
30. 2006-05-05
    historical
31. 2005-12-12
    listed $59,900
32. 2005-12-12
    listed $59,900
33. 2005-12-07
    listed $59,900
34. 1996-03-14
    soldstatus $27,000
35. 1996-03-14
    soldstatus $27,000
36. 1996-01-23
    historical
37. 1995-08-24
    listed $29,900
38. 1995-08-24
    listed $29,900

ⓘ 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: $470 · $39/mo
• Projected year-2 tax: $470 · $39/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 · 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: $13,617
• − Mortgage interest: −$1,260
• − Property taxes: −$470
• − Insurance: −$112
• − Repairs & maintenance: −$1,089
• − Management: −$1,089
• − Depreciation: −$655
• Taxable income: $8,941
• Est. tax owed @ 24.0%: −$2,146
• After-tax cash flow: $6,613/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

-24.7% since first listed

22 events — show timeline

• 2026-05-26 Listed $22,500 FSBO.com
• 2010-12-06 Listing Removed — REALCOMP
• 2010-04-02 Sold (MLS) $15,000 REALCOMP
• 2010-04-02 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2010-02-22 Listing Removed — MiRealSource-MiMLS
• 2010-01-12 Listing Removed — REALCOMP
• 2010-01-12 Listing Removed — MiRealSource-MiMLS
• 2010-01-12 Listed $15,000 REALCOMP
• 2010-01-12 Listed $15,000 MiRealSource-MiMLS
• 2009-04-14 Listed $44,900 REALCOMP
• 2009-04-14 Listed $44,900 MiRealSource-MiMLS
• 2007-01-29 Sold (Public Records) $61,000 Public Records
• 2006-05-18 Listing Removed — MiRealSource-MiMLS
• 2006-05-05 Listing Removed — MiRealSource-MiMLS
• 2005-12-12 Listed $59,900 MiRealSource-MiMLS
• 2005-12-12 Listed $59,900 REALCOMP
• 2005-12-07 Listed $59,900 MiRealSource-MiMLS
• 1996-03-14 Sold (MLS) $27,000 REALCOMP
• 1996-03-14 Sold (MLS) $27,000 MiRealSource-MiMLS
• 1996-01-23 Listing Removed — MiRealSource-MiMLS
• 1995-08-24 Listed $29,900 REALCOMP
• 1995-08-24 Listed $29,900 MiRealSource-MiMLS

Property tax history

-1.5%/yr

Latest (2025): $470 · +1.0% YoY. Source: county tax records.