823 Remington Ave · Flint, MI 48507

$32,499

1 bd · 1.0 ba · 480 sqft · SingleFamily public records · 14 Days on market

Built 1920 3,485 sqft lot

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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
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable homeownership or investment opportunity in a convenient Flint location! This property offers solid potential for first-time buyers, investors, or those looking to add a rental property to their portfolio. Featuring a functional layout and average condition throughout, this home provides a great foundation for light updates and value enhancement while remaining move-in ready. Conveniently located near Fenton Rd, Hemphill Rd, shopping centers, schools, restaurants, and major commuter routes, making daily travel and access to amenities simple and convenient. Whether you're looking for an affordable primary residence, a rental investment, or a property to personalize over time, this home offers flexibility and opportunity at an attractive price point. Enjoy the benefits of homeownership with manageable maintenance, a desirable location, and room to build equity. Property is being sold as-is. Buyer to verify all measurements, dimensions, and property information. Novation: Buyer has equitable interest in the property and is marketing the property with the owner's authorization in order to locate a new buyer.

Key facts

• Move-in ready
• Near schools
• Functional layout

Tags

• CONVENIENT FLINT LOCATION
• FUNCTIONAL LAYOUT
• LIGHT UPDATES
• MOVE-IN READY
• NEAR SHOPPING CENTERS
• NEAR SCHOOLS

Property features AI

Finance

• Other: Located in the Fenton Street Subdivision

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Entry at ground level with steps; Vinyl siding
• Construction: Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 35 x 102 (0.08 acres)

Interior

• Bedrooms: Total rooms: 4
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: One-level layout; Basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $32k.

Deal economics

• At list price, monthly cash flow is $357 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($798 rent vs $32k).
• Cap rate 19.5% 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 soft (-1.0%/yr); 206 active listings in the ZIP; 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 $224 of loan paydown is wiped out by about $975 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 + 0.0% rent growth), your $9k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $2k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $32k implies a 442% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,499

Questions for the listing agent

1. Built in 1920 — 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. 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: 2.45% ✓
• Cap rate: 19.47%
• Cash-on-cash: 47.05%
• DSCR: 3.09
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 40.7%
• Equity multiple: 2.67×
• Total profit: $15,160
• Equity at exit: $4,846

10-year hold

• IRR: 45.4%
• Equity multiple: 4.69×
• Total profit: $33,596
• Equity at exit: $2,810

Cash invested: $9,100 (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 48507

• Rents YoY: -1.0%
• Active inventory: 206
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $798 medium
• Mortgage (P&I): −$170
• Tax from tax record: −$89 /mo · $1,073/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $357

Break-even live

Break-even rent $346

Max offer price $32,499

Occupancy floor 50%

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: $8,125
• Closing costs: $975
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-06-18
   days on market $32,499 Active 14 DOM
2. 2026-06-17
   days on market $32,499 Active 13 DOM
3. 2026-06-16
   days on market $32,499 Active 12 DOM
4. 2026-06-15
   pricedays on market $32,499 Active 11 DOM
5. 2026-06-14
   days on market $32,999 Active 9 DOM
6. 2026-06-13
   pricedays on market $32,999 Active 8 DOM
7. 2026-06-10
   days on market $34,999 Active 6 DOM
8. 2026-06-09
   days on market $34,999 Active 5 DOM
9. 2026-06-08
   days on market $34,999 Active 4 DOM
10. 2026-06-07
    days on market $34,999 Active 3 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $34,999 Active 1 DOM

ⓘ 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: $1,073 · $89/mo
• Projected year-2 tax: $1,073 · $89/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 ≥97°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: $9,572
• − Mortgage interest: −$1,820
• − Property taxes: −$1,073
• − Insurance: −$162
• − Repairs & maintenance: −$766
• − Management: −$766
• − Depreciation: −$945
• Taxable income: $4,039
• Est. tax owed @ 24.0%: −$969
• After-tax cash flow: $3,312/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): 28,723
• Household income: $46,554
• Rent vs Own: 42.2% rent · 57.8% own
• Severe rent burden: 1534.0

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 0.57)
• Race & ethnicity: White 59% Black 28% Two or more races 10% Hispanic / Latino 5%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 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: ▼ -154.90%
• Current HPI: 132.3632
• Rent YoY: ▼ -1.04%
• 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

+59.1% since first listed

10 events — show timeline

• 2026-06-02 Listed $34,999 MiRealSource-MiMLS
• 2026-06-02 Listed $34,999 REALCOMP
• 2013-12-31 Listing Removed — MiRealSource-MiMLS
• 2013-06-07 Listed $17,000 MiRealSource-MiMLS
• 2007-07-03 Sold (MLS) $6,000 MiRealSource-MiMLS
• 2007-07-03 Sold (MLS) $6,000 REALCOMP
• 2007-06-07 Listing Removed — MiRealSource-MiMLS
• 2007-04-12 Listed $5,900 MiRealSource-MiMLS
• 2007-04-12 Listed $5,900 REALCOMP
• 2002-09-10 Sold (Public Records) $22,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $1,073 · +120.4% YoY. Source: county tax records.