2009 Concord St · Flint, MI 48504

$27,900

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 88 Days on market

Built 1929 5,009 sqft lot Est $23k · 22% over

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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
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Investment Opportunity in Flint, MI Vacant property ready for full rehab. Great opportunity for investors looking for their next flip or rental property. Property needs significant repairs. Sold AS-IS. Cash offers preferred. Great potential after renovation. Serious buyers only. Proof of funds required.

Key facts

• 5,009 sq ft lot
• Built 1929
• Listed 88 days

Property features AI

Exterior

• Home design: Single-family house; About 880 sq ft of living space
• Exterior features: Lot of approximately 5,009 sq ft

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $28k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $28k).
• Recommended offer: $26k (6.0% below list) — sets the bar for market timing.
• Cap rate 31.0% 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: 132 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $193 of loan paydown is wiped out by about $837 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($26k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,226 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 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 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.60% ✓
• Cap rate: 31.04%
• Cash-on-cash: 88.37%
• DSCR: 4.93
• GRM: 2.3

CMA / ARV

• ARV (on-the-fly): $22,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1930 Concord St	0.04mi	2/1.0	900 (+2%)	2mo	$30,000	$33	93
2101 Barth St	0.11mi	2/1.0	905 (+3%)	4mo	$33,000	$36	86
2109 Begole St	0.11mi	3/1.0 (+1)	832 (-6%)	8mo	$10,000	$12	74
1802 Mackin Rd	0.16mi	2/1.0	768 (-13%)	6mo	$8,000	$10	67
2622 Concord St	0.45mi	3/1.0 (+1)	939 (+7%)	1mo	$7,000	$7	62
1409 Prospect St	0.39mi	3/1.0 (+1)	783 (-11%)	1mo	$7,000	$9	57
2602 Sloan St	0.51mi	3/1.0 (+1)	955 (+8%)	2mo	$25,000	$26	55
2023 Cadillac St	0.64mi	2/1.0	968 (+10%)	1mo	$26,900	$28	52
913 Perry St	0.67mi	2/1.5	800 (-9%)	3mo	$8,500	$11	49
2513 Tiffin St	0.67mi	2/1.0	768 (-13%)	0mo	$65,000	$85	47
2245 Milbourne Ave	0.70mi	2/1.0	962 (+9%)	6mo	$17,537	$18	47
1900 Cadillac St	0.68mi	2/1.0	994 (+13%)	4mo	$49,900	$50	44

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: 89.0%
• Equity multiple: 5.12×
• Total profit: $32,152
• Equity at exit: $4,160

10-year hold

• IRR: 92.0%
• Equity multiple: 10.64×
• Total profit: $75,306
• Equity at exit: $2,412

Cash invested: $7,812 (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: 132
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,006 high
• Mortgage (P&I): −$146
• Tax from tax record: −$61 /mo · $735/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $575

Break-even live

Break-even rent $277

Max offer price $27,900

Occupancy floor 38%

Sensitivity live

Price	-10% $591	-5% $583	+0% $575	+5% $567	+10% $560
Rent	-10% $496	-5% $536	+0% $575	+5% $615	+10% $655
Rate	-1.0pp $589	-0.5pp $582	base $575	+0.5pp $568	+1.0pp $561

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: $6,975
• Closing costs: $837
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
314 Sheffield Ave Flint, MI	2.0	1.0	896	$1,250	$1.40	22d	1	1.15mi
607 E 2nd Ave Unit 803 Flint, MI	1.0	1.0	606	$1,025	$1.69	14d	1	1.16mi
343 Sheffield Apt. C Ave heuristic Flint, MI	1.0	1.0	564	$900	$1.60	26d	1	1.18mi
352 Bradley Ave Unit 343 Sheffield Ave-Apt C Flint, MI	1.0	1.0	564	$900	$1.60	22d	1	1.19mi
711 W Dewey St Flint, MI	3.0	1.0	1011	$925	$0.91	22d	1	1.26mi
3221 Burgess St Flint, MI	2.0	1.0	755	$875	$1.16	22d	1	1.32mi

Listing history 6 events

1. 2026-06-03
   days on market $27,900 Active 88 DOM
2. 2026-06-02
   days on market $27,900 Active 87 DOM
3. 2026-06-01
   days on market $27,900 Active 86 DOM
4. 2026-05-31
   days on market $27,900 Active 85 DOM
5. 2026-05-30
   days on market $27,900 Active 84 DOM
6. 2026-03-07
   listed $27,900 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: $735 · $61/mo
• Projected year-2 tax: $735 · $61/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 5/10 Major FEMA zone X (unshaded) · 65% 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: $12,069
• − Mortgage interest: −$1,563
• − Property taxes: −$735
• − Insurance: −$140
• − Repairs & maintenance: −$965
• − Management: −$965
• − Depreciation: −$812
• Taxable income: $6,888
• Est. tax owed @ 24.0%: −$1,653
• After-tax cash flow: $5,250/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

1 event — show timeline

• 2026-03-07 Listed $27,900 ForSaleByOwner.com

Property tax history

+0.8%/yr

Latest (2018): $735 · -36.4% YoY. Source: county tax records.