623 S Mason St · Saginaw, MI 48602

$89,999

3 bd · 1.0 ba · 1,098 sqft · SingleFamily public records · 51 Days on market

Built 1869 6,011 sqft lot Est $78k · 15% over

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Why this score? — see what drove the D+ 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 +23.9/30.0
• DSCR +7.7/10.0
• 1% rule +6.5/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 623 South Mason!!! This home is located in one of Saginaw's sought after neighborhoods. It sits on a peaceful block, conveniently located near downtown. It has undergone some modern updates while still maintaining it's original charm. A beautiful deck has been added, new security doors, along with newer mechanicals. Schedule your showing today. BATVAI. $495 Transaction fee to listing brokerage.

Key facts

• Beautiful deck
• Modern updates
• New security doors

Tags

• MODERN UPDATES
• BEAUTIFUL DECK
• NEW SECURITY DOORS
• NEWER MECHANICALS

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water
• Home design: Single-family residential; Built in 1869
• Construction: Aluminum siding; Asphalt shingle roof; Built in 1869
• Exterior features: Paved road access; Lot of approximately 0.14 acres

Interior

• Kitchen: Kitchen (8 x 8)
• Bedrooms: Primary bedroom (10 x 12); Second bedroom (8 x 8)
• Bathrooms: 1 full bathroom (8 x 8)
• Heating & cooling: Forced air heating; Window air conditioning units
• Interior features: Covered entrance; Michigan-style basement; Total of 7 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

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; 1 comparable units currently listed for rent nearby; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 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.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 4y 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.
• Current owner paid $28k; list at $90k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1869 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,299 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1869 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 1.15% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.35%
• DSCR: 1.37
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $77,958
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1415 Lyon St	0.09mi	2/1.0 (-1)	1,068 (-3%)	0mo	$74,900	$70	86
310 S Bates St	0.22mi	3/1.0	1,069 (-3%)	2mo	$42,000	$39	84
719 S Bond St	0.12mi	3/1.0	1,191 (+8%)	0mo	$52,500	$44	80
1511 Osborn St	0.32mi	2/1.0 (-1)	1,041 (-5%)	1mo	$90,000	$86	71
250 Goetz St	0.64mi	3/1.0	1,120 (+2%)	4mo	$79,900	$71	64
1 Southlawn Ct	0.69mi	3/1.0	1,090 (-1%)	4mo	$116,900	$107	63
828 Malzahn St	0.67mi	3/1.0	1,138 (+4%)	3mo	$109,900	$97	60
1016 Thurman St	0.56mi	3/1.0	1,230 (+12%)	3mo	$69,900	$57	52
1715 Hancock St	0.55mi	2/1.0 (-1)	970 (-12%)	1mo	$42,500	$44	50
1514 Marquette St	0.65mi	2/1.5 (-1)	986 (-10%)	2mo	$50,000	$51	44
251 Trier St	0.60mi	3/1.5	1,262 (+15%)	2mo	$147,000	$116	44
1700 Marquette St	0.75mi	2/1.0 (-1)	963 (-12%)	1mo	$80,000	$83	39

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 · 3.98% rent growth · sell at horizon

5-year hold

• IRR: -2.4%
• Equity multiple: 0.91×
• Total profit: $-2,351
• Equity at exit: $13,419

10-year hold

• IRR: 8.3%
• Equity multiple: 1.67×
• Total profit: $16,784
• Equity at exit: $7,781

Cash invested: $25,200 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,038 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$135 /mo · $1,625/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $175

Break-even live

Break-even rent $816

Max offer price $89,999

Occupancy floor 78%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1827 Gilbert St Saginaw, MI	3.0	2.0	1008	$695	$0.69	43d	1	1.48mi

Listing history 34 events

1. 2026-06-19
   days on market $89,999 Active 51 DOM
2. 2026-06-18
   days on market $89,999 Active 50 DOM
3. 2026-06-17
   days on market $89,999 Active 49 DOM
4. 2026-06-16
   days on market $89,999 Active 48 DOM
5. 2026-06-15
   days on market $89,999 Active 47 DOM
6. 2026-06-14
   days on market $89,999 Active 45 DOM
7. 2026-06-12
   days on market $89,999 Active 44 DOM
8. 2026-06-09
   days on market $89,999 Active 41 DOM
9. 2026-06-08
   days on market $89,999 Active 40 DOM
10. 2026-06-07
    days on market $89,999 Active 39 DOM
11. 2026-06-05
    days on market $89,999 Active 36 DOM
12. 2026-06-03
    days on market $89,999 Active 35 DOM
13. 2026-06-02
    days on market $89,999 Active 34 DOM
14. 2026-06-01
    days on market $89,999 Active 33 DOM
15. 2026-05-31
    days on market $89,999 Active 32 DOM
16. 2026-05-30
    days on market $89,999 Active 31 DOM
17. 2026-04-29
    listed $89,999 Active 408-char remark

    Show marketing remark (408 chars)

    Welcome to 623 South Mason!!! This home is located in one of Saginaw's sought after neighborhoods. It sits on a peaceful block, conveniently located near downtown. It has undergone some modern updates while still maintaining it's original charm. A beautiful deck has been added, new security doors, along with newer mechanicals. Schedule your showing today. BATVAI. $495 Transaction fee to listing brokerage.

18. 2026-04-29
    listed $89,999 Active 408-char remark

    Show marketing remark (408 chars)

    Welcome to 623 South Mason!!! This home is located in one of Saginaw's sought after neighborhoods. It sits on a peaceful block, conveniently located near downtown. It has undergone some modern updates while still maintaining it's original charm. A beautiful deck has been added, new security doors, along with newer mechanicals. Schedule your showing today. BATVAI. $495 Transaction fee to listing brokerage.

19. 2026-04-29
    listed $89,999 Active

    Show marketing remark (408 chars)

    Welcome to 623 South Mason!!! This home is located in one of Saginaw's sought after neighborhoods. It sits on a peaceful block, conveniently located near downtown. It has undergone some modern updates while still maintaining it's original charm. A beautiful deck has been added, new security doors, along with newer mechanicals. Schedule your showing today. BATVAI. $495 Transaction fee to listing brokerage.

20. 2022-04-25
    soldstatus $28,000
21. 2022-04-19
    soldstatus $28,000 Sold
22. 2022-04-19
    soldstatus $28,000 Closed
23. 2022-04-03
    status Pending
24. 2022-04-03
    status Pending
25. 2022-03-30
    price $34,900
26. 2022-03-30
    price $34,900
27. 2022-03-30
    status Active
28. 2022-03-30
    status Back on Market
29. 2022-03-27
    status Pending
30. 2022-03-27
    status Pending
31. 2022-03-09
    price $39,900
32. 2022-03-09
    price $39,900
33. 2022-02-26
    listed $44,900 Active
34. 2022-02-26
    listed $44,900 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: $1,625 · $135/mo
• Projected year-2 tax: $1,625 · $135/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 ≥99°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: $12,460
• − Mortgage interest: −$5,041
• − Property taxes: −$1,625
• − Insurance: −$450
• − Repairs & maintenance: −$997
• − Management: −$997
• − Depreciation: −$2,618
• Taxable income: $732
• Est. tax owed @ 24.0%: −$176
• After-tax cash flow: $1,929/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: 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

+100.4% since first listed

18 events — show timeline

• 2026-04-29 Listed $89,999 SW Michigan MLS
• 2026-04-29 Listed $89,999 MiRealSource-MiMLS
• 2026-04-29 Listed $89,999 REALCOMP
• 2022-04-25 Sold (Public Records) $28,000 Public Records
• 2022-04-19 Sold (MLS) $28,000 MiRealSource-MiMLS
• 2022-04-19 Sold (MLS) $28,000 REALCOMP
• 2022-04-03 Pending — REALCOMP
• 2022-04-03 Pending — MiRealSource-MiMLS
• 2022-03-30 Price Changed $34,900 MiRealSource-MiMLS
• 2022-03-30 Price Changed $34,900 REALCOMP
• 2022-03-30 Relisted — REALCOMP
• 2022-03-30 Relisted — MiRealSource-MiMLS
• 2022-03-27 Pending — REALCOMP
• 2022-03-27 Pending — MiRealSource-MiMLS
• 2022-03-09 Price Changed $39,900 MiRealSource-MiMLS
• 2022-03-09 Price Changed $39,900 REALCOMP
• 2022-02-26 Listed $44,900 MiRealSource-MiMLS
• 2022-02-26 Listed $44,900 REALCOMP

Property tax history

+7.1%/yr

Latest (2025): $1,625 · -14.0% YoY. Source: county tax records.