3921 Kellar Ave · Flint, MI 48504

$45,000

3 bd · 1.0 ba · 1,788 sqft · SingleFamily public records · 33 Days on market

Built 1958 5,227 sqft lot Est $61k · 26% 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
• 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

Charming 3-bedroom, 1-bathroom home offering comfort, functionality, and great curb appeal. This well-maintained property features a bright and inviting living area, a kitchen with ample cabinet space, and spacious bedrooms filled with natural light. The full bathroom is clean and modern, while the backyard provides plenty of room for entertaining, gardening, or relaxing outdoors. Conveniently located across from a park and near schools, shopping, dining, and major highways, this home is perfect for first-time buyers, small families, or anyone looking for a cozy place to call home.

Key facts

• Bright living area
• Ample cabinet space
• 5,227 sq ft lot

Tags

• BRIGHT LIVING AREA
• AMPLE CABINET SPACE
• BACKYARD FOR ENTERTAINING

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick construction
• Construction: Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 50 x 100 (0.12 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 23.3% 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: 131 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $4k; list at $45k implies a 947% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 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 1958 — 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: 2.72% ✓
• Cap rate: 23.34%
• Cash-on-cash: 60.88%
• DSCR: 3.71
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $60,792
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1315 W Myrtle Ave	0.45mi	3/1.5	1,794 (+0%)	3mo	$52,000	$29	74
4407 Wisner St	0.33mi	3/2.0	1,799 (+1%)	12mo	$28,000	$16	69
1909 Cherrylawn Dr	0.57mi	3/1.0	1,742 (-3%)	2mo	$45,000	$26	68
3117 Burgess St	0.55mi	3/1.5	1,796 (+0%)	8mo	$75,000	$42	64
4230 Leerda St	0.34mi	4/1.5 (+1)	1,798 (+1%)	14mo	$74,000	$41	64
4539 Trumbull Dr	0.53mi	3/1.0	1,932 (+8%)	1mo	$90,000	$47	61
3913 Sterling St	0.47mi	3/1.5	1,600 (-10%)	15mo	$82,297	$51	46
2634 Seneca St	0.66mi	4/2.5 (+1)	1,722 (-4%)	9mo	$110,000	$64	45
1209 W Mcclellan St	0.69mi	4/2.5 (+1)	1,664 (-7%)	2mo	$30,000	$18	44
3180 Finney Ct	0.51mi	4/2.0 (+1)	1,932 (+8%)	14mo	$65,000	$34	42
3205 Milbourne Ave	0.72mi	3/3.0	1,718 (-4%)	16mo	$19,000	$11	38
1402 W Genesee St	0.63mi	4/2.5 (+1)	1,988 (+11%)	15mo	$43,000	$22	28

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: 59.7%
• Equity multiple: 3.65×
• Total profit: $33,449
• Equity at exit: $6,710

10-year hold

• IRR: 64.4%
• Equity multiple: 7.48×
• Total profit: $81,665
• 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 48504

• Active inventory: 131
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,222 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$72 /mo · $860/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $639

Break-even live

Break-even rent $413

Max offer price $45,000

Occupancy floor 43%

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 W Marengo Ave Flint, MI	3.0	1.0	1350	$1,072	$0.79	13d	1	1.24mi
5813 Edwards Ave Flint, MI	3.0	1.0	1500	$899	$0.60	13d	1	1.34mi
1510 Forest Hill Ave Flint, MI	4.0	2.0	2441	$1,800	$0.74	20d	1	1.44mi

Listing history 33 events

1. 2026-06-18
   days on market $45,000 Active 33 DOM
2. 2026-06-17
   days on market $45,000 Active 32 DOM
3. 2026-06-16
   days on market $45,000 Active 31 DOM
4. 2026-06-15
   days on market $45,000 Active 30 DOM
5. 2026-06-14
   days on market $45,000 Active 28 DOM
6. 2026-06-13
   pricedays on market $45,000 Active 27 DOM
7. 2026-06-10
   days on market $50,000 Active 25 DOM
8. 2026-06-09
   days on market $50,000 Active 24 DOM
9. 2026-06-08
   days on market $50,000 Active 23 DOM
10. 2026-06-07
    days on market $50,000 Active 22 DOM
11. 2026-06-05
    days on market $50,000 Active 19 DOM
12. 2026-06-03
    days on market $50,000 Active 18 DOM
13. 2026-06-02
    days on market $50,000 Active 17 DOM
14. 2026-06-01
    statusdays on market $50,000 Active 16 DOM
15. 2026-05-31
    days on market $50,000 Active Under Contract 15 DOM
16. 2026-05-30
    days on market $50,000 Active Under Contract 14 DOM
17. 2026-05-16
    listed $50,000 Active 588-char remark

    Show marketing remark (588 chars)

    Charming 3-bedroom, 1-bathroom home offering comfort, functionality, and great curb appeal. This well-maintained property features a bright and inviting living area, a kitchen with ample cabinet space, and spacious bedrooms filled with natural light. The full bathroom is clean and modern, while the backyard provides plenty of room for entertaining, gardening, or relaxing outdoors. Conveniently located across from a park and near schools, shopping, dining, and major highways, this home is perfect for first-time buyers, small families, or anyone looking for a cozy place to call home.

18. 2026-05-16
    listed $50,000 Active

    Show marketing remark (588 chars)

    Charming 3-bedroom, 1-bathroom home offering comfort, functionality, and great curb appeal. This well-maintained property features a bright and inviting living area, a kitchen with ample cabinet space, and spacious bedrooms filled with natural light. The full bathroom is clean and modern, while the backyard provides plenty of room for entertaining, gardening, or relaxing outdoors. Conveniently located across from a park and near schools, shopping, dining, and major highways, this home is perfect for first-time buyers, small families, or anyone looking for a cozy place to call home.

19. 2017-03-09
    soldstatus $4,300 Sold 145-char remark

    Show marketing remark (145 chars)

    HANDYMAN SPECIAL; with lots of potential, corner lot next to Sarvis park, 3 bedroom, 1 bath. All bedrooms with hardwood floor, large living room.

20. 2017-02-25
    status Pending
21. 2017-02-24
    status Pending 145-char remark

    Show marketing remark (145 chars)

    HANDYMAN SPECIAL; with lots of potential, corner lot next to Sarvis park, 3 bedroom, 1 bath. All bedrooms with hardwood floor, large living room.

22. 2017-02-14
    listed $6,500 Active

    Show marketing remark (145 chars)

    HANDYMAN SPECIAL; with lots of potential, corner lot next to Sarvis park, 3 bedroom, 1 bath. All bedrooms with hardwood floor, large living room.

23. 2017-02-14
    listed $6,500 Active 145-char remark

    Show marketing remark (145 chars)

    HANDYMAN SPECIAL; with lots of potential, corner lot next to Sarvis park, 3 bedroom, 1 bath. All bedrooms with hardwood floor, large living room.

24. 2016-04-08
    soldstatus $2,100 Sold
25. 2016-02-25
    status Pending
26. 2016-02-24
    status Pending
27. 2016-02-18
    historical Keep Showing-Contgcy Appl
28. 2016-02-06
    listed $1,760 Active
29. 2016-02-05
    listed $1,760 Active
30. 2015-12-14
    historical
31. 2015-12-14
    historical
32. 2015-11-04
    listed $37,400
33. 2015-11-04
    listed $37,400

ⓘ 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: $860 · $72/mo
• Projected year-2 tax: $860 · $72/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 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,668
• − Mortgage interest: −$2,521
• − Property taxes: −$860
• − Insurance: −$225
• − Repairs & maintenance: −$1,173
• − Management: −$1,173
• − Depreciation: −$1,309
• Taxable income: $7,406
• Est. tax owed @ 24.0%: −$1,777
• After-tax cash flow: $5,893/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
• City population: 93,814
• Population (ZIP): 23,873

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 Black (66%)
• Race & ethnicity: Black 66% White 24% Two or more races 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -101.67%
• Current HPI: 94.3111
• Rent YoY: —
• Metro: —
• 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

+33.7% since first listed

17 events — show timeline

• 2026-05-16 Listed $50,000 REALCOMP
• 2026-05-16 Listed $50,000 MiRealSource-MiMLS
• 2017-03-09 Sold (MLS) $4,300 REALCOMP
• 2017-02-25 Pending — MiRealSource-MiMLS
• 2017-02-24 Pending — REALCOMP
• 2017-02-14 Listed $6,500 MiRealSource-MiMLS
• 2017-02-14 Listed $6,500 REALCOMP
• 2016-04-08 Sold (MLS) $2,100 REALCOMP
• 2016-02-25 Pending — MiRealSource-MiMLS
• 2016-02-24 Pending — REALCOMP
• 2016-02-18 Contingent — MiRealSource-MiMLS
• 2016-02-06 Listed $1,760 MiRealSource-MiMLS
• 2016-02-05 Listed $1,760 REALCOMP
• 2015-12-14 Listing Removed — MiRealSource-MiMLS
• 2015-12-14 Listing Removed — REALCOMP
• 2015-11-04 Listed $37,400 MiRealSource-MiMLS
• 2015-11-04 Listed $37,400 REALCOMP

Property tax history

+0.5%/yr

Latest (2025): $860 · +1.5% YoY. Source: county tax records.