1002 S Michigan Ave · Saginaw, MI 48602

$93,000

6 bd · 1.0 ba · 1,809 sqft · SingleFamily public records · 20 Days on market

Fair condition 4,792 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
• DSCR +10.0/10.0
• 1% rule +9.2/10.0
• ARV discount +7.5/15.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

See this classic home in the heart of Saginaw City, sporting original wood trim, floors, and classic glass doors. Converted into a duplex, it has gained utilities without losing any charm. Classic tile bathrooms and tile in the entry ways, original wounding banister, a full basement, and a plenty of parking. See this property today before it is gone!

Key facts

• Original wood trim
• Classic glass doors
• Plenty of parking

Tags

• ORIGINAL WOOD TRIM
• CLASSIC GLASS DOORS
• CONVERTED INTO A DUPLEX
• CLASSIC TILE BATHROOMS
• FULL BASEMENT
• PLENTY OF PARKING

Property features AI

Finance

• Other: Lot approximately 60 x 80 (0.11 acre)
• Financial info: Unit rents: one unit at $875, another at $750
• HOA & community: Community sidewalks

Exterior

• Parking: Covered carport with assigned spaces
• Utilities: Public water; Public sewer; Electric service (standard)
• Home design: Multi-family residential income property; Two-story building; Entry level information not provided; Facing direction not provided
• Construction: Aluminum siding; Block foundation; Block basement
• Exterior features: Paved road access; Sidewalks; Pets allowed

Interior

• Kitchen: Oven; Range; Refrigerator; Includes typical kitchen appliances
• Flooring: Hardwood flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Gas water heater; Oven; Range; Refrigerator
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath single-family listed at $93k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $93k).
• Recommended offer: $92k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.4% vs local median 8.3% in Saginaw — 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 63/100 on livability (#521 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools F, crime F, amenities F.
• Saginaw School District (urban): math 20% / reading 29% proficiency, ranked #444 of 540 in MI (top 82%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 76% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+4.0%/yr); 250 active listings in the ZIP; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $643 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Saginaw County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $26k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $17k; list at $93k implies a 447% gain — meaningful room to come down on a strong offer.

Recommended offer $91,605 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.42% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.07%
• DSCR: 1.80
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.98% rent growth · sell at horizon

5-year hold

• IRR: 10.8%
• Equity multiple: 1.43×
• Total profit: $11,254
• Equity at exit: $13,867

10-year hold

• IRR: 20.7%
• Equity multiple: 2.83×
• Total profit: $47,590
• Equity at exit: $8,041

Cash invested: $26,040 (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 48602

• Home prices YoY: -19.7%
• Rents YoY: 4.0%
• Active inventory: 250
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,324 medium
• Mortgage (P&I): −$488
• Tax from tax record: −$127 /mo · $1,526/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $392

Break-even live

Break-even rent $827

Max offer price $93,000

Occupancy floor 65%

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-19
   days on market $93,000 Active 20 DOM
2. 2026-06-18
   price $93,000 Active 19 DOM
3. 2026-06-18
   days on market $94,900 Active 19 DOM
4. 2026-06-17
   days on market $94,900 Active 18 DOM
5. 2026-06-16
   days on market $94,900 Active 17 DOM
6. 2026-06-15
   days on market $94,900 Active 16 DOM
7. 2026-06-14
   days on market $94,900 Active 14 DOM
8. 2026-06-12
   days on market $94,900 Active 13 DOM
9. 2026-06-09
   days on market $94,900 Active 10 DOM
10. 2026-06-08
    days on market $94,900 Active 9 DOM
11. 2026-06-07
    days on market $94,900 Active 8 DOM
12. 2026-06-05
    days on market $94,900 Active 5 DOM
13. 2026-06-03
    days on market $94,900 Active 4 DOM
14. 2026-06-02
    days on market $94,900 Active 3 DOM
15. 2026-06-01
    days on market $94,900 Active 2 DOM
16. 2026-05-30
    remarks 352-char remark

    Show marketing remark (352 chars)

    See this classic home in the heart of Saginaw City, sporting original wood trim, floors, and classic glass doors. Converted into a duplex, it has gained utilities without losing any charm. Classic tile bathrooms and tile in the entry ways, original wounding banister, a full basement, and a plenty of parking. See this property today before it is gone!

17. 2026-05-30
    listed $94,900 Active 1 DOM

    Show marketing remark (352 chars)

    See this classic home in the heart of Saginaw City, sporting original wood trim, floors, and classic glass doors. Converted into a duplex, it has gained utilities without losing any charm. Classic tile bathrooms and tile in the entry ways, original wounding banister, a full basement, and a plenty of parking. See this property today before it is gone!

ⓘ 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: $1,526 · $127/mo
• Projected year-2 tax: $1,526 · $127/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 ≥100°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,886
• − Mortgage interest: −$5,209
• − Property taxes: −$1,526
• − Insurance: −$465
• − Repairs & maintenance: −$1,271
• − Management: −$1,271
• − Depreciation: −$2,705
• Taxable income: $3,438
• Est. tax owed @ 24.0%: −$825
• After-tax cash flow: $3,881/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This classic home in Saginaw City requires moderate updates to kitchen and bathrooms, but has a good roof and hardwood floors. Landscaping and painting can significantly enhance its curb appeal and value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen appliances — outdated and in need of replacement
• Minor bathroom fixtures — basic and in need of updating

Value-add opportunities

• Both paint interior walls — improves curb appeal and interior aesthetics
• Both update kitchen cabinets and appliances — enhances functionality and aesthetics
• Both update bathroom fixtures — enhances functionality and aesthetics
• Both landscaping — enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen appliances · outdated and in need of replacement	Moderate	$3,000–15,000
bathroom fixtures · basic and in need of updating	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both paint interior walls — improves curb appeal and interior aesthetics ↑
• Both update kitchen cabinets and appliances — enhances functionality and aesthetics ↑
• Both update bathroom fixtures — enhances functionality and aesthetics ↑
• Both landscaping — enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Saginaw School District
• NCES district ID: 2630390
• Math proficiency: 20% ▼ -5.00%
• Reading proficiency: 29% ▼ -3.00%
• Median HH income: $28,940
• Composite: 19.6/100
• National rank: #8755
• State rank: #444 of 540 in MI

Livability — Saginaw

• Score: 63/100
• State rank: #521
• US rank: #15424

Category grades

Amenities F Commute F 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: Saginaw, MI
• County: Saginaw County · 54,884 people
• City population: 54,884
• Metro: Saginaw, MI
• Population (ZIP): 27,127
• Household income: $46,984
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1416.0

Population outlook (Saginaw County) Hauer SSP2

• Today (2025): 180,568 people
• By 2030: 172,302 · -4.6%
• By 2040: 153,919 · -14.8%
• By 2050: 135,519 · -24.9%
• By 2075: 97,199 · -46.2%
• By 2100: 65,037 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 50% Black 27% Hispanic / Latino 17% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Saginaw

• 2024 margin: Toss-up / Even · D 47.7% · R 51.0% · Other 1.4%
• 2008→2024 swing: -20.6pp toward R · 2008: 17.3pp · 2024: -3.3pp
• All cycles: 2024: R+3.3 2020: D+0.3 2016: R+1.1 2012: D+11.9 2008: D+17.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.15%
• Current HPI: 159.8807
• Rent YoY: ▲ 3.98%
• Metro: Saginaw, 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

+458.2% since first listed

3 events — show timeline

• 2026-05-30 Listed $94,900 REALCOMP
• 2026-05-30 Listed $94,900 MiRealSource-MiMLS
• 2020-11-25 Sold (Public Records) $17,000 Public Records

Property tax history

-3.8%/yr

Latest (2025): $1,526 · -16.3% YoY. Source: county tax records.