2041 Warner Ave · Flint, MI 48503

$35,000

3 bd · 1.0 ba · 1,001 sqft · SingleFamily public records · 22 Days on market

Built 1961 5,663 sqft lot Est $30k · 17% over ↓ 12% since listing

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Why this score? — see what drove the C+ 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
• Rent growth +5.0/5.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.1/15.0
• Appreciation +0.0/10.0

Key facts

• 5,663 sq ft lot
• Built 1961
• Listed 22 days

Property features AI

Finance

• Other: Located in the Elm Park subdivision; Directions: Lippincott to Warner; cross street Lippincott and 12th

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry
• Construction: Wood siding construction
• Exterior features: Asphalt roof; Paved road access; Lot approximately 0.13 acres (50 x 109)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Unfinished basement; Three total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $474 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($922 rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 22.5% 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 rising fast (+12.3%/yr); 135 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 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 $242 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 + 8.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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.

Recommended offer $34,475 (1.5% below list)

Questions for the listing agent

1. Built in 1961 — 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. 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.
6. 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.
7. 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: 2.63% ✓
• Cap rate: 22.53%
• Cash-on-cash: 57.99%
• DSCR: 3.58
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $30,030
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2041 Warner Ave	0.00mi	3/1.0	1,001 (0%)	0mo	$24,000	$24	100
609 Lippincott Blvd	0.07mi	3/1.0	1,080 (+8%)	9mo	$40,000	$37	76
2029 Winans Ave	0.35mi	2/1.5 (-1)	992 (-1%)	1mo	$30,000	$30	74
2002 Ferris Ave	0.10mi	4/1.0 (+1)	1,087 (+9%)	8mo	$29,000	$27	69
2037 Blades Ave	0.40mi	3/1.0	923 (-8%)	10mo	$20,000	$22	60
1110 Pingree Ave	0.32mi	2/1.0 (-1)	888 (-11%)	4mo	$50,000	$56	58
401 Monroe St	0.47mi	3/1.0	912 (-9%)	13mo	$10,000	$11	53
1517 Tacoma St	0.66mi	3/1.0	875 (-13%)	1mo	$46,500	$53	47
920 Belmont Ave	0.62mi	2/1.0 (-1)	927 (-7%)	8mo	$130,000	$140	47
930 Belmont Ave	0.64mi	2/1.0 (-1)	1,083 (+8%)	6mo	$22,300	$21	46
2314 S Grand Traverse St	0.60mi	2/1.5 (-1)	922 (-8%)	7mo	$30,000	$33	46
1851 Seymour Ave	0.65mi	2/1.0 (-1)	852 (-15%)	2mo	$10,500	$12	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 62.3%
• Equity multiple: 4.00×
• Total profit: $29,388
• Equity at exit: $5,219

10-year hold

• IRR: 68.5%
• Equity multiple: 9.85×
• Total profit: $86,701
• Equity at exit: $3,026

Cash invested: $9,800 (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: 3.2×

Monthly cashflow live

• Estimated rent: $922 high
• Mortgage (P&I): −$184
• Tax from tax record: −$57 /mo · $680/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $474

Break-even live

Break-even rent $323

Max offer price $35,000

Occupancy floor 44%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
410 Lippincott Blvd Flint, MI	2.0	1.0	800	$695	$0.87	13d	1	0.06mi
912 Waldman Ave Flint, MI	3.0	2.0	1223	$675	$0.55	13d	1	1.32mi
132 Pine Blf Flint, MI	3.0	2.0	960	$953	$0.99	44d	1	1.39mi
4411 Red Arrow Rd Flint, MI	3.0	1.5	1200	$1,400	$1.17	13d	1	1.45mi
4428 Pengelly Rd Flint, MI	4.0	2.0	1275	$900	$0.71	44d	1	1.45mi
813 Alvord Ave Flint, MI	2.0	1.0	724	$850	$1.17	13d	1	1.47mi

Listing history 14 events

1. 2026-05-11
   status Pending
2. 2026-05-11
   status Pending
3. 2026-04-29
   status Active
4. 2026-04-29
   status Active
5. 2026-04-21
   historical Accepting Backup Offers
6. 2026-04-21
   historical Active Under Contract
7. 2026-04-17
   status Pending
8. 2026-04-17
   status Pending
9. 2026-04-16
   listed $35,000 Active
10. 2026-04-16
    listed $35,000 Active
11. 2010-12-06
    historical
12. 2006-10-31
    historical
13. 2005-12-05
    listed $39,900
14. 2005-12-05
    listed $39,900

ⓘ 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: $680 · $57/mo
• Projected year-2 tax: $680 · $57/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: $11,065
• − Mortgage interest: −$1,961
• − Property taxes: −$680
• − Insurance: −$175
• − Repairs & maintenance: −$885
• − Management: −$885
• − Depreciation: −$1,018
• Taxable income: $5,460
• Est. tax owed @ 24.0%: −$1,311
• After-tax cash flow: $4,373/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

-12.3% since first listed

14 events — show timeline

• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-11 Pending — REALCOMP
• 2026-04-29 Relisted — MiRealSource-MiMLS
• 2026-04-29 Relisted — REALCOMP
• 2026-04-21 Contingent — MiRealSource-MiMLS
• 2026-04-21 Contingent — REALCOMP
• 2026-04-17 Pending — MiRealSource-MiMLS
• 2026-04-17 Pending — REALCOMP
• 2026-04-16 Listed $35,000 REALCOMP
• 2026-04-16 Listed $35,000 MiRealSource-MiMLS
• 2010-12-06 Listing Removed — REALCOMP
• 2006-10-31 Listing Removed — MiRealSource-MiMLS
• 2005-12-05 Listed $39,900 MiRealSource-MiMLS
• 2005-12-05 Listed $39,900 REALCOMP

Property tax history

+2.2%/yr

Latest (2025): $680 · +1.3% YoY. Source: county tax records.