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    902 Black Ave Flint, MI 48505

    Sponsored
    For Sale
    Contact for pricing

    100+ Distressed Single-Family Rentals

    Property size:
    500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional investment opportunity presents a portfolio of over 100 distressed single-family rental properties located in Genesee County, Michigan, specifically within the city of Flint. The portfolio comprises properties with varying square footage, ranging from 500 to 2,800 square feet. The properties are categorized as multifamily, specifically a single-family rental portfolio, presenting a unique opportunity for bulk acquisition. The sale condition is distressed, offering potential for significant returns on investment. Currently, a portfolio of 85 units is available for immediate sale, with an additional package of units becoming available after July 20th. Flexible purchasing options are available, with consideration given to sales of as few as 30 units at a time. A complete list of properties within the portfolio, including occupancy status, will be provided following a good faith deposit. The properties are situated at various addresses throughout Flint, Michigan, with zip codes ranging from 48503 to 48507. Interested parties should contact us directly for detailed pricing and complete terms of sale. This is a rare chance to acquire a substantial rental portfolio in a growing market. Don't miss this opportunity to expand your real estate holdings.

    Property Features for 902 Black Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    500 SF

    HighLights

    • Exceptional investment opportunity: Over 100 distressed single‑family rental properties in Flint, MI.
    • Properties range from 500 to 2,800 square feet.
    • 85 units immediately available, with additional units available after July 20th.
    • Flexible purchase options; minimum purchase of 30 units.
    • Located throughout Flint, MI (zip codes 48503‑48507).
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Restaurant Law Firm Dental Office Hair Salon Building Supply Clothing Store Auto Repair Shop Pharmacy Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Flint
    County
    Genesee
    State
    Michigan
    Longitude
    -83.6893588
    Latitude
    43.0557032

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    FAQs

    What type of property is this?
    Multifamily property - 100+ Distressed Single-Family Rentals
    Where is this multifamily property located?
    The property is located at 902 Black Ave Flint, MI.
    What are key features of this property?
    This property features: Exceptional investment opportunity: Over 100 distressed single-family rental properties in Flint, MI.; Properties range from 500 to 2,800 square feet.; 85 units immediately available, with additional units available after July 20th.
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    902 Black Ave Flint, MI 48505
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