1422 Leith St · Flint, MI 48506

$45,000

2 bd · 1.0 ba · 805 sqft · SingleFamily public records · 62 Days on market

Built 1920 4,356 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
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unlock great potential in this corner-lot home perfect for investors wanting to add to their portfolio or first-time buyers! Offering 2 bedrooms with the option to create a 3rd, this property includes a full bathroom on the main level plus a second bathroom in the basement featuring a stand-up shower, sink, and toilet. The layout offers generous living spaces and flexibility to finish the basement for additional usable square footage. Add your personal touches and build equity-don't let this opportunity pass you by! Seller is filling out seller disclosure now. I will get that uploaded ASAP.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1920

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Residential property
• Construction: Asphalt construction materials; Asphalt roof; Block foundation; Built on one level
• Exterior features: Covered porch; Paved road access

Interior

• Kitchen: Free-standing refrigerator
• Bedrooms: 4 total rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Electric and gas water heaters; Free-standing refrigerator; Full unfinished basement
• Laundry & utility: Water heaters (electric and natural gas)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($931 rent vs $45k).
• Recommended offer: $42k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.0% 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: 202 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $311 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $42,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 2.07% ✓
• Cap rate: 17.95%
• Cash-on-cash: 41.64%
• DSCR: 2.85
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $28,980
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1622 New York Ave	0.34mi	3/1.0 (+1)	839 (+4%)	6mo	$34,500	$41	68
1805 Arizona Ave	0.43mi	2/1.0	760 (-6%)	12mo	$23,000	$30	60
1526 Wyoming Ave	0.18mi	3/1.0 (+1)	728 (-10%)	14mo	$8,000	$11	59
1421 Jane Ave	0.37mi	3/1.0 (+1)	768 (-5%)	14mo	$24,000	$31	58
1716 Colorado Ave	0.33mi	2/1.0	864 (+7%)	20mo	$31,000	$36	56
1700 Delaware Ave	0.36mi	2/1.0	864 (+7%)	20mo	$15,000	$17	54
1620 Mabel Ave	0.48mi	3/1.5 (+1)	816 (+1%)	18mo	$26,500	$32	53
2426 Maryland Ave	0.74mi	2/1.0	712 (-12%)	2mo	$36,000	$51	44
2321 Oklahoma Ave	0.65mi	3/1.0 (+1)	868 (+8%)	12mo	$33,000	$38	41
1635 E Hamilton Ave	0.57mi	3/1.0 (+1)	912 (+13%)	10mo	$42,000	$46	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 38.2%
• Equity multiple: 2.63×
• Total profit: $20,559
• Equity at exit: $6,710

10-year hold

• IRR: 44.7%
• Equity multiple: 5.27×
• Total profit: $53,782
• Equity at exit: $3,891

Cash invested: $12,600 (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 48506

• Active inventory: 202
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $931 high
• Mortgage (P&I): −$236
• Tax from tax record: −$44 /mo · $523/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $437

Break-even live

Break-even rent $378

Max offer price $45,000

Occupancy floor 48%

Sensitivity live

Price	-10% $463	-5% $450	+0% $437	+5% $424	+10% $412
Rent	-10% $364	-5% $400	+0% $437	+5% $474	+10% $511
Rate	-1.0pp $460	-0.5pp $449	base $437	+0.5pp $426	+1.0pp $414

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1553 Illinois Ave Flint, MI	2.0	1.0	702	$900	$1.28	21d	1	0.80mi
1605 Kearsley Park Blvd Flint, MI	2.0	1.0	875	$975	$1.11	14d	1	0.93mi
2621 Churchill Ave Flint, MI	2.0	1.0	736	$795	$1.08	14d	1	1.08mi
3618 Branch Rd Flint, MI	2.0	1.0	950	$950	$1.00	14d	1	1.25mi
3901 N Averill Apt #307 Ave heuristic Flint, MI	2.0	1.0	850	$975	$1.15	7d	1	1.48mi
2311 N Averill Ave Unit Main Flint, MI	3.0	1.0	950	$1,200	$1.26	14d	1	1.49mi

Listing history 24 events

1. 2026-06-18
   days on market $45,000 Active 62 DOM
2. 2026-06-17
   days on market $45,000 Active 61 DOM
3. 2026-06-16
   days on market $45,000 Active 60 DOM
4. 2026-06-15
   days on market $45,000 Active 59 DOM
5. 2026-06-14
   days on market $45,000 Active 57 DOM
6. 2026-06-13
   days on market $45,000 Active 56 DOM
7. 2026-06-10
   days on market $45,000 Active 54 DOM
8. 2026-06-09
   days on market $45,000 Active 53 DOM
9. 2026-06-08
   days on market $45,000 Active 52 DOM
10. 2026-06-07
    days on market $45,000 Active 51 DOM
11. 2026-06-05
    days on market $45,000 Active 48 DOM
12. 2026-06-03
    days on market $45,000 Active 47 DOM
13. 2026-06-02
    days on market $45,000 Active 46 DOM
14. 2026-06-01
    days on market $45,000 Active 45 DOM
15. 2026-05-31
    days on market $45,000 Active 44 DOM
16. 2026-05-30
    days on market $45,000 Active 43 DOM
17. 2026-05-16
    status Active
18. 2026-05-16
    historical
19. 2026-04-17
    listed $45,000 Active

    Show marketing remark (597 chars)

    Unlock great potential in this corner-lot home perfect for investors wanting to add to their portfolio or first-time buyers! Offering 2 bedrooms with the option to create a 3rd, this property includes a full bathroom on the main level plus a second bathroom in the basement featuring a stand-up shower, sink, and toilet. The layout offers generous living spaces and flexibility to finish the basement for additional usable square footage. Add your personal touches and build equity-don't let this opportunity pass you by! Seller is filling out seller disclosure now. I will get that uploaded ASAP.

20. 2026-04-17
    listed $45,000 Active 597-char remark

    Show marketing remark (597 chars)

    Unlock great potential in this corner-lot home perfect for investors wanting to add to their portfolio or first-time buyers! Offering 2 bedrooms with the option to create a 3rd, this property includes a full bathroom on the main level plus a second bathroom in the basement featuring a stand-up shower, sink, and toilet. The layout offers generous living spaces and flexibility to finish the basement for additional usable square footage. Add your personal touches and build equity-don't let this opportunity pass you by! Seller is filling out seller disclosure now. I will get that uploaded ASAP.

21. 2026-04-11
    historical
22. 2026-04-11
    historical
23. 2025-12-08
    listed $45,000 Active
24. 2025-12-07
    listed $45,000 Active

ⓘ 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: $523 · $44/mo
• Projected year-2 tax: $608 · $51/mo
• Expected delta: +$85/yr (+$7/mo · 16.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 23% 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: $11,173
• − Mortgage interest: −$2,521
• − Property taxes: −$523
• − Insurance: −$225
• − Repairs & maintenance: −$894
• − Management: −$894
• − Depreciation: −$1,309
• Taxable income: $4,807
• Est. tax owed @ 24.0%: −$1,154
• After-tax cash flow: $4,093/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
• Metro: Flint, MI
• Population (ZIP): 24,712
• Household income: $47,929
• Rent vs Own: 31.4% rent · 68.6% own
• Severe rent burden: 954.0

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 (76%)
• Race & ethnicity: White 76% Black 9% Hispanic / Latino 8% Two or more races 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 6% Romanian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -173.31%
• Current HPI: 90.0494
• 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

+0.0% since first listed

8 events — show timeline

• 2026-05-16 Relisted — REALCOMP
• 2026-05-16 Listing Removed — REALCOMP
• 2026-04-17 Listed $45,000 MiRealSource-MiMLS
• 2026-04-17 Listed $45,000 REALCOMP
• 2026-04-11 Listing Removed — MiRealSource-MiMLS
• 2026-04-11 Listing Removed — REALCOMP
• 2025-12-08 Listed $45,000 REALCOMP
• 2025-12-07 Listed $45,000 MiRealSource-MiMLS

Property tax history

+0.7%/yr

Latest (2025): $523 · +1.1% YoY. Source: county tax records.