729 Kendrick St · Saginaw, MI 48602

$36,400

3 bd · 1.0 ba · 1,061 sqft · SingleFamily public records · 73 Days on market

Built 1924 8,712 sqft lot Est $68k · 46% under ↓ 48% since listing

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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
• 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 Bed, 1 bath Bungalow in City of Saginaw with dining room or office , nice 2 car detached garage for storage. Great opportunity, don't miss out! Some plumbing and electrical work needed.

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1924

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Aluminum siding; Block foundation; Built with one above-grade finished level
• Exterior features: Front porch; Lot roughly 74 x 119 (approximately 0.2 acres)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Basement with block foundation; unfinished

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $36k.

Deal economics

• At list price, monthly cash flow is $558 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $36k).
• Recommended offer: $34k (6.0% below list) — sets the bar for market timing.
• Cap rate 24.7% vs local median 7.8% 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: crime F, amenities F, commute 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.
• Zoned schools: Thompson Middle School (math 6% / reading 13%, grade F, #479 of 493 statewide, top 97%, 397 students, 93% FRL) — zoned schools average 93% FRL vs 76% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 24% district-wide (-15 pts) — the specific schools serving this property underperform the Saginaw School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+4.0%/yr); 253 active listings in the ZIP; 2 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 $252 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y 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: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,216 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 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 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 2.82% ✓
• Cap rate: 24.70%
• Cash-on-cash: 65.74%
• DSCR: 3.92
• GRM: 3.0

CMA / ARV

• ARV (on-the-fly): $67,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1013 Maple St	0.15mi	3/1.0	1,034 (-2%)	2mo	$66,000	$64	87
1757 Burnham Dr	0.20mi	4/1.0 (+1)	1,097 (+3%)	2mo	$63,000	$57	78
2233 S Niagara St	0.26mi	3/1.0	972 (-8%)	2mo	$44,000	$45	73
1753 Kendrick St	0.16mi	3/1.5	936 (-12%)	2mo	$60,000	$64	69
1 Southlawn Ct	0.51mi	3/1.0	1,090 (+3%)	4mo	$116,900	$107	68
1522 Gilbert St	0.45mi	2/1.0 (-1)	1,112 (+5%)	1mo	$67,000	$60	65
1514 Marquette St	0.41mi	2/1.5 (-1)	986 (-7%)	2mo	$50,000	$51	61
123 Vermont St	0.50mi	2/1.0 (-1)	1,010 (-5%)	5mo	$78,000	$77	59
1700 Marquette St	0.43mi	2/1.0 (-1)	963 (-9%)	1mo	$80,000	$83	59
1717 S Hamilton St	0.39mi	2/1.0 (-1)	960 (-10%)	4mo	$42,000	$44	57
2116 W Michigan Ave	0.59mi	3/1.0	1,159 (+9%)	4mo	$125,000	$108	54
1618 Greenwich St	0.54mi	2/1.0 (-1)	960 (-10%)	4mo	$79,900	$83	50

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: 66.1%
• Equity multiple: 4.01×
• Total profit: $30,699
• Equity at exit: $5,427

10-year hold

• IRR: 70.7%
• Equity multiple: 8.54×
• Total profit: $76,858
• Equity at exit: $3,147

Cash invested: $10,192 (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: 253
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,025 medium
• Mortgage (P&I): −$191
• Tax est. 1.5%: −$46 /mo · $546/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$215
• Net cashflow: $558

Break-even live

Break-even rent $318

Max offer price $36,400

Occupancy floor 41%

Sensitivity live

Price	-10% $583	-5% $571	+0% $558	+5% $546	+10% $533
Rent	-10% $477	-5% $518	+0% $558	+5% $599	+10% $639
Rate	-1.0pp $577	-0.5pp $568	base $558	+0.5pp $549	+1.0pp $539

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: $9,100
• Closing costs: $1,092
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1827 Gilbert St Saginaw, MI	3.0	2.0	1008	$695	$0.69	46d	1	0.49mi
2021 Grout St Saginaw, MI	1.0–2.0	1.0	862	$995	$1.15	46d	1	0.59mi

Listing history 32 events

1. 2026-06-22
   days on market $36,400 Active 73 DOM
2. 2026-06-19
   days on market $36,400 Active 70 DOM
3. 2026-06-18
   days on market $36,400 Active 69 DOM
4. 2026-06-17
   days on market $36,400 Active 68 DOM
5. 2026-06-16
   days on market $36,400 Active 67 DOM
6. 2026-06-15
   days on market $36,400 Active 66 DOM
7. 2026-06-14
   days on market $36,400 Active 64 DOM
8. 2026-06-12
   days on market $36,400 Active 63 DOM
9. 2026-06-09
   days on market $36,400 Active 60 DOM
10. 2026-06-08
    days on market $36,400 Active 59 DOM
11. 2026-06-07
    days on market $36,400 Active 58 DOM
12. 2026-06-05
    days on market $36,400 Active 55 DOM
13. 2026-06-03
    days on market $36,400 Active 54 DOM
14. 2026-06-02
    days on market $36,400 Active 53 DOM
15. 2026-06-01
    days on market $36,400 Active 52 DOM
16. 2026-05-31
    days on market $36,400 Active 51 DOM
17. 2026-05-30
    days on market $36,400 Active 50 DOM
18. 2026-04-10
    listed $36,400 Active
19. 2026-04-09
    listed $36,400 Active 187-char remark

    Show marketing remark (220 chars)

    2 bed, 1 bath bungalow in City of Saginaw with nice 2 car detached garage for storage. Dining room and basement. Natural gas, city water, sewer. Great opportunity, dont miss out! Some plumbing and electrical work needed.

20. 2026-04-09
    listed $36,400 Active 220-char remark

    Show marketing remark (220 chars)

    2 bed, 1 bath bungalow in City of Saginaw with nice 2 car detached garage for storage. Dining room and basement. Natural gas, city water, sewer. Great opportunity, dont miss out! Some plumbing and electrical work needed.

21. 2024-03-10
    historical
22. 2024-03-10
    historical
23. 2023-12-15
    price $59,900
24. 2023-12-15
    price $59,900
25. 2023-10-30
    listed $64,900 Active
26. 2023-10-30
    listed $64,900 Active
27. 2004-11-10
    soldstatus $70,000
28. 2004-10-25
    historical
29. 2004-10-22
    soldstatus $70,000
30. 2004-10-22
    soldstatus $70,000
31. 2004-06-21
    listed $69,500
32. 2004-06-21
    listed $69,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $12,302
• − Mortgage interest: −$2,039
• − Property taxes: −$546
• − Insurance: −$182
• − Repairs & maintenance: −$984
• − Management: −$984
• − Depreciation: −$1,059
• Taxable income: $6,508
• Est. tax owed @ 24.0%: −$1,562
• After-tax cash flow: $5,138/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

-47.6% since first listed

15 events — show timeline

• 2026-04-10 Listed $36,400 REALCOMP
• 2026-04-09 Listed $36,400 MiRealSource-MiMLS
• 2026-04-09 Listed $36,400 MiRealSource-MiMLS
• 2024-03-10 Listing Removed — MiRealSource-MiMLS
• 2024-03-10 Listing Removed — REALCOMP
• 2023-12-15 Price Changed $59,900 MiRealSource-MiMLS
• 2023-12-15 Price Changed $59,900 REALCOMP
• 2023-10-30 Listed $64,900 MiRealSource-MiMLS
• 2023-10-30 Listed $64,900 REALCOMP
• 2004-11-10 Sold (Public Records) $70,000 Public Records
• 2004-10-25 Listing Removed — MiRealSource-MiMLS
• 2004-10-22 Sold (MLS) $70,000 REALCOMP
• 2004-10-22 Sold (MLS) $70,000 MiRealSource-MiMLS
• 2004-06-21 Listed $69,500 REALCOMP
• 2004-06-21 Listed $69,500 MiRealSource-MiMLS

Property tax history

+7.4%/yr

Latest (2025): $1,906 · +3.6% YoY. Source: county tax records.