454 E Atherton Rd · Flint, MI 48507

$74,900

4 bd · 2.0 ba · 2,223 sqft · SingleFamily public records · 58 Days on market

Built 1922 0.34 ac lot Est $133k · 44% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

4-bed, 2-bath home on a double lot with major updates already completed. New electrical with meter, pex plumbing throughout, brand new furnace , hot water tank, fresh carpet in the living room and all new light fixtures throughout, . . Kitchen features butcher block counters, subway tile, and a peninsula for bar seating. Both baths have soaking tubs, new sinks, and new vanities. Owner is still making improvements, lock it in before the price goes up! Home and garage sold as-is. Schedule your private tour today!

Key facts

• Hot water tank
• New furnace
• Pex plumbing

Tags

• DOUBLE LOT
• NEW ELECTRICAL
• PEX PLUMBING
• NEW FURNACE
• HOT WATER TANK
• FRESH CARPET

Property features AI

Finance

• Other: Property listed by Real Estate For A CAUSE

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry; Aluminum siding
• Construction: Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 60.00 x 128.50 (0.34 acres)

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Total of 7 rooms (bedrooms included)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Gas water heater; Unfinished basement
• Laundry & utility: Has heating system

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $73k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.0% 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; 1 comparable units currently listed for rent nearby; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).
• This rent runs 37% of the median local income ($47k/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 $518 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($73k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 5y ago; this cycle's ask has dropped $25k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,653 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.90% ✓
• Cap rate: 16.00%
• Cash-on-cash: 34.66%
• DSCR: 2.54
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $133,380
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3617 Circle Dr	0.19mi	3/2.0 (-1)	2,365 (+6%)	2mo	$160,000	$68	74
4121 Menton St	0.17mi	3/1.0 (-1)	2,332 (+5%)	7mo	$95,000	$41	69
2841 Comanche Ave	0.63mi	4/2.0	2,272 (+2%)	11mo	$155,000	$68	58
4225 Custer Ave	0.24mi	3/1.5 (-1)	2,000 (-10%)	15mo	$127,200	$64	53
1815 Terrace Dr	0.69mi	3/2.5 (-1)	2,196 (-1%)	10mo	$192,500	$88	50
3610 Dearborn Ave	0.32mi	3/2.0 (-1)	1,924 (-14%)	11mo	$114,900	$60	48
132 E Lakeview Ave	0.57mi	5/3.0 (+1)	2,076 (-7%)	8mo	$75,000	$36	47
1111 Lochhead Ave	0.54mi	3/1.5 (-1)	1,950 (-12%)	2mo	$106,000	$54	45
2618 Pinetree Dr	0.73mi	4/2.5	2,462 (+11%)	7mo	$90,000	$37	40

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 26.7%
• Equity multiple: 2.06×
• Total profit: $22,292
• Equity at exit: $11,168

10-year hold

• IRR: 32.4%
• Equity multiple: 3.53×
• Total profit: $53,067
• Equity at exit: $6,476

Cash invested: $20,972 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,422 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $606

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 52%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3908 Cherokee Ave Flint, MI	4.0	2.5	1824	$1,350	$0.74	13d	1	0.40mi

Listing history 50 events

1. 2026-06-18
   days on market $74,900 Active 58 DOM
2. 2026-06-17
   days on market $74,900 Active 57 DOM
3. 2026-06-16
   days on market $74,900 Active 56 DOM
4. 2026-06-15
   days on market $74,900 Active 55 DOM
5. 2026-06-14
   days on market $74,900 Active 53 DOM
6. 2026-06-13
   days on market $74,900 Active 52 DOM
7. 2026-06-10
   days on market $74,900 Active 50 DOM
8. 2026-06-09
   days on market $74,900 Active 49 DOM
9. 2026-06-08
   days on market $74,900 Active 48 DOM
10. 2026-06-07
    days on market $74,900 Active 47 DOM
11. 2026-06-05
    days on market $74,900 Active 44 DOM
12. 2026-06-03
    days on market $74,900 Active 43 DOM
13. 2026-06-02
    days on market $74,900 Active 42 DOM
14. 2026-06-01
    days on market $74,900 Active 41 DOM
15. 2026-05-31
    days on market $74,900 Active 40 DOM
16. 2026-05-30
    days on market $74,900 Active 39 DOM
17. 2026-05-22
    price $74,900 516-char remark

    Show marketing remark (516 chars)

    4-bed, 2-bath home on a double lot with major updates already completed. New electrical with meter, pex plumbing throughout, brand new furnace , hot water tank, fresh carpet in the living room and all new light fixtures throughout, . . Kitchen features butcher block counters, subway tile, and a peninsula for bar seating. Both baths have soaking tubs, new sinks, and new vanities. Owner is still making improvements, lock it in before the price goes up! Home and garage sold as-is. Schedule your private tour today!

18. 2026-05-22
    price $74,900

    Show marketing remark (516 chars)

    4-bed, 2-bath home on a double lot with major updates already completed. New electrical with meter, pex plumbing throughout, brand new furnace , hot water tank, fresh carpet in the living room and all new light fixtures throughout, . . Kitchen features butcher block counters, subway tile, and a peninsula for bar seating. Both baths have soaking tubs, new sinks, and new vanities. Owner is still making improvements, lock it in before the price goes up! Home and garage sold as-is. Schedule your private tour today!

19. 2026-05-11
    price $94,900 516-char remark

    Show marketing remark (516 chars)

    4-bed, 2-bath home on a double lot with major updates already completed. New electrical with meter, pex plumbing throughout, brand new furnace , hot water tank, fresh carpet in the living room and all new light fixtures throughout, . . Kitchen features butcher block counters, subway tile, and a peninsula for bar seating. Both baths have soaking tubs, new sinks, and new vanities. Owner is still making improvements, lock it in before the price goes up! Home and garage sold as-is. Schedule your private tour today!

20. 2026-05-11
    price $94,900

    Show marketing remark (516 chars)

    4-bed, 2-bath home on a double lot with major updates already completed. New electrical with meter, pex plumbing throughout, brand new furnace , hot water tank, fresh carpet in the living room and all new light fixtures throughout, . . Kitchen features butcher block counters, subway tile, and a peninsula for bar seating. Both baths have soaking tubs, new sinks, and new vanities. Owner is still making improvements, lock it in before the price goes up! Home and garage sold as-is. Schedule your private tour today!

21. 2026-04-21
    listed $99,900 Active 516-char remark

    Show marketing remark (516 chars)

    4-bed, 2-bath home on a double lot with major updates already completed. New electrical with meter, pex plumbing throughout, brand new furnace , hot water tank, fresh carpet in the living room and all new light fixtures throughout, . . Kitchen features butcher block counters, subway tile, and a peninsula for bar seating. Both baths have soaking tubs, new sinks, and new vanities. Owner is still making improvements, lock it in before the price goes up! Home and garage sold as-is. Schedule your private tour today!

22. 2026-04-21
    listed $99,900 Active

    Show marketing remark (516 chars)

    4-bed, 2-bath home on a double lot with major updates already completed. New electrical with meter, pex plumbing throughout, brand new furnace , hot water tank, fresh carpet in the living room and all new light fixtures throughout, . . Kitchen features butcher block counters, subway tile, and a peninsula for bar seating. Both baths have soaking tubs, new sinks, and new vanities. Owner is still making improvements, lock it in before the price goes up! Home and garage sold as-is. Schedule your private tour today!

23. 2026-01-08
    historical
24. 2026-01-08
    historical
25. 2025-12-31
    price $75,000
26. 2025-12-31
    price $75,000
27. 2025-12-06
    price $77,000
28. 2025-12-05
    price $77,000
29. 2025-11-20
    price $79,999
30. 2025-11-19
    price $79,999
31. 2025-10-28
    price $82,900
32. 2025-10-27
    price $82,900
33. 2025-10-07
    listed $85,000 Active
34. 2025-10-07
    listed $85,000 Active
35. 2025-07-29
    historical
36. 2025-07-29
    historical
37. 2025-07-24
    price $89,900
38. 2025-07-23
    price $89,900
39. 2025-07-16
    price $97,900
40. 2025-07-16
    price $97,900
41. 2025-07-09
    price $98,900
42. 2025-07-09
    price $98,900
43. 2025-06-23
    listed $99,900 Active
44. 2025-06-23
    listed $99,900 Active
45. 2025-06-05
    historical
46. 2025-05-17
    listed $99,900 Active
47. 2025-05-17
    listed $99,900 Active
48. 2024-05-17
    soldstatus $53,000
49. 2024-05-09
    soldstatus $53,000 Sold
50. 2024-05-09
    soldstatus $53,000 Closed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $17,062
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,365
• − Management: −$1,365
• − Depreciation: −$2,179
• Taxable income: $6,460
• Est. tax owed @ 24.0%: −$1,550
• After-tax cash flow: $5,718/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

+7.0% since first listed

62 events — show timeline

• 2026-05-22 Price Changed $74,900 MiRealSource-MiMLS
• 2026-05-22 Price Changed $74,900 REALCOMP
• 2026-05-11 Price Changed $94,900 MiRealSource-MiMLS
• 2026-05-11 Price Changed $94,900 REALCOMP
• 2026-04-21 Listed $99,900 REALCOMP
• 2026-04-21 Listed $99,900 MiRealSource-MiMLS
• 2026-01-08 Listing Removed — MiRealSource-MiMLS
• 2026-01-08 Listing Removed — REALCOMP
• 2025-12-31 Price Changed $75,000 MiRealSource-MiMLS
• 2025-12-31 Price Changed $75,000 REALCOMP
• 2025-12-06 Price Changed $77,000 MiRealSource-MiMLS
• 2025-12-05 Price Changed $77,000 REALCOMP
• 2025-11-20 Price Changed $79,999 MiRealSource-MiMLS
• 2025-11-19 Price Changed $79,999 REALCOMP
• 2025-10-28 Price Changed $82,900 MiRealSource-MiMLS
• 2025-10-27 Price Changed $82,900 REALCOMP
• 2025-10-07 Listed $85,000 MiRealSource-MiMLS
• 2025-10-07 Listed $85,000 REALCOMP
• 2025-07-29 Listing Removed — MiRealSource-MiMLS
• 2025-07-29 Listing Removed — REALCOMP
• 2025-07-24 Price Changed $89,900 MiRealSource-MiMLS
• 2025-07-23 Price Changed $89,900 REALCOMP
• 2025-07-16 Price Changed $97,900 MiRealSource-MiMLS
• 2025-07-16 Price Changed $97,900 REALCOMP
• 2025-07-09 Price Changed $98,900 MiRealSource-MiMLS
• 2025-07-09 Price Changed $98,900 REALCOMP
• 2025-06-23 Listed $99,900 REALCOMP
• 2025-06-23 Listed $99,900 MiRealSource-MiMLS
• 2025-06-05 Listing Removed — MiRealSource-MiMLS
• 2025-05-17 Listed $99,900 REALCOMP
• 2025-05-17 Listed $99,900 MiRealSource-MiMLS
• 2024-05-17 Sold (Public Records) $53,000 Public Records
• 2024-05-09 Sold (MLS) $53,000 MiRealSource-MiMLS
• 2024-05-09 Sold (MLS) $53,000 REALCOMP
• 2024-04-28 Pending — MiRealSource-MiMLS
• 2024-04-28 Pending — REALCOMP
• 2024-04-24 Listed $50,000 MiRealSource-MiMLS
• 2024-04-24 Listed $50,000 REALCOMP
• 2022-03-17 Pending — MiRealSource-MiMLS
• 2022-03-07 Sold (MLS) $23,100 MiRealSource-MiMLS
• 2022-03-07 Sold (MLS) $23,100 REALCOMP
• 2022-02-19 Listing Removed — REALCOMP
• 2022-02-19 Listing Removed — MiRealSource-MiMLS
• 2022-01-28 Relisted — REALCOMP
• 2022-01-13 Listing Removed — REALCOMP
• 2022-01-06 Price Changed $29,900 MiRealSource-MiMLS
• 2022-01-06 Price Changed $29,900 REALCOMP
• 2021-12-14 Price Changed $34,900 MiRealSource-MiMLS
• 2021-12-13 Price Changed $34,900 REALCOMP
• 2021-11-13 Price Changed $39,900 MiRealSource-MiMLS
• 2021-11-12 Price Changed $39,900 REALCOMP
• 2021-11-12 Relisted — REALCOMP
• 2021-11-12 Relisted — MiRealSource-MiMLS
• 2021-11-12 Listing Removed — REALCOMP
• 2021-11-12 Listing Removed — MiRealSource-MiMLS
• 2021-10-11 Price Changed $45,900 MiRealSource-MiMLS
• 2021-10-11 Price Changed $45,900 REALCOMP
• 2021-09-15 Price Changed $49,900 MiRealSource-MiMLS
• 2021-09-15 Price Changed $49,900 REALCOMP
• 2021-08-11 Listed $54,900 MiRealSource-MiMLS
• 2021-08-11 Listed $54,900 REALCOMP
• 2021-02-01 Sold (Public Records) $70,000 Public Records

Property tax history

+11.4%/yr

Latest (2025): $4,525 · -8.7% YoY. Source: county tax records.