1907 Morgan St · Saginaw, MI 48602

$52,900

2 bd · 1.0 ba · 834 sqft · SingleFamily public records · 149 Days on market

Built 1948 3,920 sqft lot Est $67k · 21% under

---

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
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom, 1 bath home with a long-term tenant already in place—an easy, addition to your portfolio. This property offers immediate rental income and steady occupancy, making it a great option for those looking to grow investments. A great opportunity to step in and start collecting rent from day one. The home does need some TLC, allowing the next owner to update and add value over time.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1948

Property features AI

Finance

• Other: Property listed as residential single family; Subdivision: KEMPTON
• HOA & community: Homeowners association present

Exterior

• Parking: Detached garage (approximately 1.5 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Asbestos construction materials
• Exterior features: Lot approximately 40 x 103 (about 0.09 acres)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Crawl space basement; 4 total rooms

🏷️ Possibly a rental listed for sale. The $52,900 price doesn't fit this home's estimated sale value (~$66,720) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $53k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($919 rent vs $53k).
• Recommended offer: $47k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.3% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 149 days — a 12% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 21y 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.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $46,552 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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: 1.74% ✓
• Cap rate: 13.29%
• Cash-on-cash: 24.98%
• DSCR: 2.11
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $66,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2105 Mershon St	0.26mi	2/1.0	822 (-1%)	5mo	$120,000	$146	82
1815 W Genesee	0.36mi	2/1.0	818 (-2%)	1mo	$74,000	$90	79
2312 Durand St	0.35mi	2/1.0	849 (+2%)	4mo	$24,750	$29	77
2524 N Carolina St	0.28mi	3/1.0 (+1)	845 (+1%)	7mo	$78,000	$92	74
2292 Bay St	0.46mi	2/1.0	866 (+4%)	7mo	$36,000	$42	66
2138 N Clinton St	0.19mi	3/1.0 (+1)	912 (+9%)	10mo	$77,000	$84	63
2529 N BOND St	0.44mi	2/1.0	763 (-8%)	6mo	$65,000	$85	60
2200 State St	0.30mi	3/1.0 (+1)	756 (-9%)	10mo	$57,500	$76	57
1523 W Genesee St	0.42mi	3/1.0 (+1)	936 (+12%)	3mo	$53,500	$57	53
1608 Congress Ave	0.52mi	3/1.0 (+1)	948 (+14%)	3mo	$64,000	$68	46
920 Cronk Ave	0.58mi	2/1.0	714 (-14%)	4mo	$54,500	$76	45
2209 Cooper Ave	0.72mi	3/1.0 (+1)	936 (+12%)	7mo	$75,000	$80	36

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: 19.7%
• Equity multiple: 1.81×
• Total profit: $12,031
• Equity at exit: $7,888

10-year hold

• IRR: 28.7%
• Equity multiple: 3.69×
• Total profit: $39,786
• Equity at exit: $4,574

Cash invested: $14,812 (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 48602

• Home prices YoY: -19.7%
• Rents YoY: 4.0%
• Active inventory: 250
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $919 medium
• Mortgage (P&I): −$277
• Tax from tax record: −$118 /mo · $1,421/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $308

Break-even live

Break-even rent $529

Max offer price $52,900

Occupancy floor 61%

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: $13,225
• Closing costs: $1,587
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $52,900 Active 149 DOM
2. 2026-06-18
   days on market $52,900 Active 148 DOM
3. 2026-06-17
   days on market $52,900 Active 147 DOM
4. 2026-06-16
   days on market $52,900 Active 146 DOM
5. 2026-06-15
   days on market $52,900 Active 145 DOM
6. 2026-06-14
   days on market $52,900 Active 143 DOM
7. 2026-06-12
   days on market $52,900 Active 142 DOM
8. 2026-06-09
   days on market $52,900 Active 139 DOM
9. 2026-06-08
   days on market $52,900 Active 138 DOM
10. 2026-06-07
    days on market $52,900 Active 137 DOM
11. 2026-06-05
    days on market $52,900 Active 134 DOM
12. 2026-06-03
    days on market $52,900 Active 133 DOM
13. 2026-06-02
    days on market $52,900 Active 132 DOM
14. 2026-06-01
    days on market $52,900 Active 131 DOM
15. 2026-05-31
    days on market $52,900 Active 130 DOM
16. 2026-05-30
    days on market $52,900 Active 129 DOM
17. 2026-01-21
    listed $52,900 Active

    Show marketing remark (396 chars)

    2 bedroom, 1 bath home with a long-term tenant already in place—an easy, addition to your portfolio. This property offers immediate rental income and steady occupancy, making it a great option for those looking to grow investments. A great opportunity to step in and start collecting rent from day one. The home does need some TLC, allowing the next owner to update and add value over time.

18. 2026-01-21
    listed $52,900 Active 396-char remark

    Show marketing remark (396 chars)

    2 bedroom, 1 bath home with a long-term tenant already in place—an easy, addition to your portfolio. This property offers immediate rental income and steady occupancy, making it a great option for those looking to grow investments. A great opportunity to step in and start collecting rent from day one. The home does need some TLC, allowing the next owner to update and add value over time.

19. 2024-04-01
    historical
20. 2024-04-01
    historical
21. 2024-03-29
    status Active
22. 2024-03-29
    status Active
23. 2024-03-18
    status Pending
24. 2024-03-18
    status Pending
25. 2023-08-15
    listed $52,900 Active
26. 2023-08-15
    listed $52,900 Active
27. 2022-04-07
    soldstatus $47,900
28. 2022-03-22
    soldstatus $47,900 Sold
29. 2022-03-22
    soldstatus $47,900 Closed
30. 2022-02-10
    status Pending
31. 2022-02-10
    status Pending
32. 2022-01-11
    status Active
33. 2022-01-11
    status Active
34. 2022-01-11
    status Pending
35. 2022-01-11
    status Pending
36. 2021-11-23
    price $49,900
37. 2021-11-23
    price $49,900
38. 2021-10-27
    price $54,900
39. 2021-10-26
    price $54,900
40. 2021-10-08
    listed $59,900 Active
41. 2021-10-08
    listed $59,900 Active
42. 2007-02-07
    soldstatus $21,133
43. 2006-10-31
    historical
44. 2006-08-01
    listed $24,900
45. 2006-07-05
    historical
46. 2006-07-05
    historical
47. 2006-04-06
    historical
48. 2006-04-06
    historical
49. 2006-04-04
    listed $45,900
50. 2006-04-04
    listed $45,900

ⓘ 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: $1,421 · $118/mo
• Projected year-2 tax: $1,421 · $118/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 6/10 Major FEMA zone X (unshaded) · 72% 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: $11,031
• − Mortgage interest: −$2,963
• − Property taxes: −$1,421
• − Insurance: −$264
• − Repairs & maintenance: −$883
• − Management: −$883
• − Depreciation: −$1,539
• Taxable income: $3,079
• Est. tax owed @ 24.0%: −$739
• After-tax cash flow: $2,962/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

+6.9% since first listed

36 events — show timeline

• 2026-01-21 Listed $52,900 MiRealSource-MiMLS
• 2026-01-21 Listed $52,900 REALCOMP
• 2024-04-01 Listing Removed — MiRealSource-MiMLS
• 2024-04-01 Listing Removed — REALCOMP
• 2024-03-29 Relisted — REALCOMP
• 2024-03-29 Relisted — MiRealSource-MiMLS
• 2024-03-18 Pending — REALCOMP
• 2024-03-18 Pending — MiRealSource-MiMLS
• 2023-08-15 Listed $52,900 MiRealSource-MiMLS
• 2023-08-15 Listed $52,900 REALCOMP
• 2022-04-07 Sold (Public Records) $47,900 Public Records
• 2022-03-22 Sold (MLS) $47,900 MiRealSource-MiMLS
• 2022-03-22 Sold (MLS) $47,900 REALCOMP
• 2022-02-10 Pending — REALCOMP
• 2022-02-10 Pending — MiRealSource-MiMLS
• 2022-01-11 Relisted — REALCOMP
• 2022-01-11 Relisted — MiRealSource-MiMLS
• 2022-01-11 Pending — REALCOMP
• 2022-01-11 Pending — MiRealSource-MiMLS
• 2021-11-23 Price Changed $49,900 MiRealSource-MiMLS
• 2021-11-23 Price Changed $49,900 REALCOMP
• 2021-10-27 Price Changed $54,900 MiRealSource-MiMLS
• 2021-10-26 Price Changed $54,900 REALCOMP
• 2021-10-08 Listed $59,900 MiRealSource-MiMLS
• 2021-10-08 Listed $59,900 REALCOMP
• 2007-02-07 Sold (MLS) $21,133 MiRealSource-MiMLS
• 2006-10-31 Listing Removed — MiRealSource-MiMLS
• 2006-08-01 Listed $24,900 MiRealSource-MiMLS
• 2006-07-05 Listing Removed — MiRealSource-MiMLS
• 2006-07-05 Listing Removed — REALCOMP
• 2006-04-06 Listing Removed — REALCOMP
• 2006-04-06 Listing Removed — MiRealSource-MiMLS
• 2006-04-04 Listed $45,900 MiRealSource-MiMLS
• 2006-04-04 Listed $45,900 REALCOMP
• 2005-10-03 Listed $49,500 REALCOMP
• 2005-10-03 Listed $49,500 MiRealSource-MiMLS

Property tax history

+2.3%/yr

Latest (2025): $1,421 · -16.3% YoY. Source: county tax records.