2420 Bay St · Saginaw, MI 48602

$85,000

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 325 Days on market

Built 1927 4,792 sqft lot Est $113k · 25% under

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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 +29.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• 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

Landlords/Investors, enjoy the guaranteed rental payments with this Section 8 rental property. This 3-bedroom property has undergone many recent updates. Section 8 pays $1250 directly to the owner. Do Not Disturb tenants! Serious buyers only!

Key facts

• 4,792 sq ft lot
• Built 1927
• Listed 324 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Vinyl siding; Block foundation
• Exterior features: Paved road access; Lot dimensions approximately 44 x 111.73 (0.11 acre)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced-air heating (natural gas); No cooling
• Interior features: Total of 5 rooms; Unfinished basement

🏷️ Possibly a rental listed for sale. The $85,000 price doesn't fit this home's estimated sale value (~$112,800) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 8.3% in Saginaw — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 $588 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 $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 325 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 10y 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 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 325 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 1927 — 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: 1.36% ✓
• Cap rate: 10.46%
• Cash-on-cash: 14.88%
• DSCR: 1.66
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $112,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2512 WITTERS St	0.11mi	3/1.0	1,095 (-3%)	3mo	$109,900	$100	88
2259 Avon St	0.20mi	3/1.0	1,124 (-0%)	5mo	$41,000	$36	86
3030 Brockton Pl	0.34mi	3/1.0	1,123 (-0%)	4mo	$137,000	$122	80
1724 State St	0.67mi	3/1.0	1,144 (+1%)	2mo	$75,000	$66	65
2208 W Genesee St	0.53mi	3/2.0	1,102 (-2%)	5mo	$75,000	$68	64
35 Congress Court A	0.61mi	3/1.5	1,026 (-9%)	0mo	$115,000	$112	54
2125 State St	0.50mi	3/1.0	986 (-13%)	4mo	$40,200	$41	53
2621 Whitemore Pl	0.50mi	2/2.5 (-1)	1,074 (-5%)	6mo	$159,900	$149	53
1920 N Clinton St	0.67mi	4/2.0 (+1)	1,155 (+2%)	6mo	$117,000	$101	51
2513 Barnard St	0.47mi	2/1.0 (-1)	966 (-14%)	3mo	$41,000	$42	47
2450 N Mason St	0.74mi	2/1.0 (-1)	1,043 (-8%)	6mo	$100,000	$96	43
2250 Mershon St	0.60mi	2/1.5 (-1)	1,005 (-11%)	6mo	$104,000	$103	42

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: 6.6%
• Equity multiple: 1.26×
• Total profit: $6,215
• Equity at exit: $12,674

10-year hold

• IRR: 16.9%
• Equity multiple: 2.45×
• Total profit: $34,596
• Equity at exit: $7,349

Cash invested: $23,800 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$138 /mo · $1,660/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $295

Break-even live

Break-even rent $784

Max offer price $85,000

Occupancy floor 70%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4156 Ann St Saginaw, MI	4.0	1.5	1387	$1,225	$0.88	43d	1	1.17mi

Listing history 47 events

1. 2026-06-19
   days on market $85,000 Active 325 DOM
2. 2026-06-18
   days on market $85,000 Active 324 DOM
3. 2026-06-17
   days on market $85,000 Active 323 DOM
4. 2026-06-16
   days on market $85,000 Active 322 DOM
5. 2026-06-15
   days on market $85,000 Active 321 DOM
6. 2026-06-14
   days on market $85,000 Active 319 DOM
7. 2026-06-12
   days on market $85,000 Active 318 DOM
8. 2026-06-09
   days on market $85,000 Active 315 DOM
9. 2026-06-08
   days on market $85,000 Active 314 DOM
10. 2026-06-07
    days on market $85,000 Active 313 DOM
11. 2026-06-05
    days on market $85,000 Active 310 DOM
12. 2026-06-03
    days on market $85,000 Active 309 DOM
13. 2026-06-02
    days on market $85,000 Active 308 DOM
14. 2026-06-01
    days on market $85,000 Active 307 DOM
15. 2026-05-31
    days on market $85,000 Active 306 DOM
16. 2026-05-30
    days on market $85,000 Active 305 DOM
17. 2025-07-29
    listed $85,000 Active

    Show marketing remark (242 chars)

    Landlords/Investors, enjoy the guaranteed rental payments with this Section 8 rental property. This 3-bedroom property has undergone many recent updates. Section 8 pays $1250 directly to the owner. Do Not Disturb tenants! Serious buyers only!

18. 2025-07-29
    listed $85,000 Active 242-char remark

    Show marketing remark (242 chars)

    Landlords/Investors, enjoy the guaranteed rental payments with this Section 8 rental property. This 3-bedroom property has undergone many recent updates. Section 8 pays $1250 directly to the owner. Do Not Disturb tenants! Serious buyers only!

19. 2023-10-11
    historical
20. 2023-10-11
    historical
21. 2023-09-17
    historical
22. 2023-09-17
    historical
23. 2023-09-16
    listed $59,900 Active
24. 2023-09-16
    listed $59,900 Active
25. 2023-08-13
    historical
26. 2023-08-12
    listed $59,900 Active
27. 2023-08-12
    historical
28. 2023-08-12
    listed $59,900 Active
29. 2023-07-13
    historical
30. 2023-07-12
    listed $59,900 Active
31. 2023-07-12
    historical
32. 2023-07-12
    listed $59,900 Active
33. 2023-05-12
    listed $59,900 Active
34. 2023-05-12
    listed $59,900 Active
35. 2022-12-02
    historical
36. 2021-05-07
    soldstatus $82,500
37. 2021-04-15
    soldstatus $27,500 Sold
38. 2021-04-15
    soldstatus $27,500 Closed
39. 2021-04-14
    historical
40. 2021-04-14
    listed $27,500
41. 2021-04-14
    historical
42. 2021-04-14
    listed $27,500
43. 2017-06-01
    historical
44. 2017-06-01
    historical
45. 2017-03-18
    price $26,900
46. 2016-11-18
    listed $29,900 Active
47. 2016-11-17
    listed $26,900

ⓘ 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: $1,660 · $138/mo
• Projected year-2 tax: $1,660 · $138/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 3/10 Moderate 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: $13,894
• − Mortgage interest: −$4,761
• − Property taxes: −$1,660
• − Insurance: −$425
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$2,473
• Taxable income: $2,352
• Est. tax owed @ 24.0%: −$564
• After-tax cash flow: $2,978/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

+216.0% since first listed

31 events — show timeline

• 2025-07-29 Listed $85,000 REALCOMP
• 2025-07-29 Listed $85,000 MiRealSource-MiMLS
• 2023-10-11 Listing Removed — MiRealSource-MiMLS
• 2023-10-11 Listing Removed — REALCOMP
• 2023-09-17 Listing Removed — MiRealSource-MiMLS
• 2023-09-17 Listing Removed — REALCOMP
• 2023-09-16 Listed $59,900 MiRealSource-MiMLS
• 2023-09-16 Listed $59,900 REALCOMP
• 2023-08-13 Listing Removed — MiRealSource-MiMLS
• 2023-08-12 Listed $59,900 MiRealSource-MiMLS
• 2023-08-12 Listing Removed — REALCOMP
• 2023-08-12 Listed $59,900 REALCOMP
• 2023-07-13 Listing Removed — MiRealSource-MiMLS
• 2023-07-12 Listed $59,900 MiRealSource-MiMLS
• 2023-07-12 Listing Removed — REALCOMP
• 2023-07-12 Listed $59,900 REALCOMP
• 2023-05-12 Listed $59,900 MiRealSource-MiMLS
• 2023-05-12 Listed $59,900 REALCOMP
• 2022-12-02 Rental Removed — RENT.
• 2021-05-07 Sold (Public Records) $82,500 Public Records
• 2021-04-15 Sold (MLS) $27,500 MiRealSource-MiMLS
• 2021-04-15 Sold (MLS) $27,500 REALCOMP
• 2021-04-14 Listed $27,500 MiRealSource-MiMLS
• 2021-04-14 Listing Removed — MiRealSource-MiMLS
• 2021-04-14 Listed $27,500 REALCOMP
• 2021-04-14 Listing Removed — REALCOMP
• 2017-06-01 Listing Removed — MiRealSource-MiMLS
• 2017-06-01 Listing Removed — REALCOMP
• 2017-03-18 Price Changed $26,900 MiRealSource-MiMLS
• 2016-11-18 Listed $29,900 MiRealSource-MiMLS
• 2016-11-17 Listed $26,900 REALCOMP

Property tax history

+3.7%/yr

Latest (2025): $1,660 · -16.3% YoY. Source: county tax records.