1802 Allegan St · Saginaw, MI 48602

$79,900

2 bd · 1.0 ba · 834 sqft · SingleFamily public records

Built 1924 6,098 sqft lot Est $73k · 10% over

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Why this score? — see what drove the C- 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 +25.5/30.0
• DSCR +8.4/10.0
• 1% rule +6.3/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• ARV discount +2.9/15.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2 bed, 1 bath bungalow offers the perfect blend of character and updates. Updated kitchen, spacious living room with additional space for storage upstairs. One and a half car garage with additional space for workshop or artist studio. This bungalow is a must see!

Key facts

• 6,098 sq ft lot
• Garage
• Built 1924

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($905 rent vs $80k).

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; 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 $552 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 $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.13% ✓
• Cap rate: 9.09%
• Cash-on-cash: 9.98%
• DSCR: 1.44
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $72,558
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1802 Allegan St	0.00mi	2/1.0	834 (0%)	0mo	$79,900	$96	100
1910 Allegan St	0.11mi	2/1.0	894 (+7%)	4mo	$91,000	$102	79
1529 Beech St	0.34mi	2/1.0	859 (+3%)	1mo	$75,000	$87	78
228 Larch St	0.20mi	2/1.0	782 (-6%)	4mo	$71,000	$91	77
1719 Marquette St	0.39mi	2/1.5	830 (-0%)	5mo	$50,000	$60	75
1920 Vermont St	0.45mi	2/1.0	840 (+1%)	5mo	$20,000	$24	74
1542 Beech St	0.35mi	3/1.0 (+1)	864 (+4%)	1mo	$102,000	$118	72
714 Yale St	0.42mi	2/1.0	847 (+2%)	7mo	$36,000	$43	72
807 Thurman St	0.37mi	3/2.0 (+1)	845 (+1%)	8mo	$65,000	$77	65
809 S Mason St	0.52mi	2/1.0	890 (+7%)	6mo	$11,000	$12	59
227 Storch St	0.73mi	2/1.0	893 (+7%)	7mo	$89,400	$100	49
705 Wayne St	0.67mi	3/1.0 (+1)	897 (+8%)	5mo	$45,000	$50	46

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: -0.2%
• Equity multiple: 0.99×
• Total profit: $-193
• Equity at exit: $11,913

10-year hold

• IRR: 10.4%
• Equity multiple: 1.84×
• Total profit: $18,866
• Equity at exit: $6,908

Cash invested: $22,372 (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: 7.4×

Monthly cashflow live

• Estimated rent: $905 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$77 /mo · $922/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $186

Break-even live

Break-even rent $670

Max offer price $79,900

Occupancy floor 74%

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: $19,975
• Closing costs: $2,397
• 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	44d	1	1.19mi
2021 Grout St Saginaw, MI	1.0–2.0	1.0	862	$995	$1.15	44d	1	1.30mi

Listing history 4 events

1. 2026-05-08
   historical 272-char remark

   Show marketing remark (272 chars)

   Charming 2 bed, 1 bath bungalow offers the perfect blend of character and updates. Updated kitchen, spacious living room with additional space for storage upstairs. One and a half car garage with additional space for workshop or artist studio. This bungalow is a must see!

2. 2026-05-08
   historical

   Show marketing remark (272 chars)

   Charming 2 bed, 1 bath bungalow offers the perfect blend of character and updates. Updated kitchen, spacious living room with additional space for storage upstairs. One and a half car garage with additional space for workshop or artist studio. This bungalow is a must see!

3. 2026-05-07
   listed $79,900 272-char remark

   Show marketing remark (272 chars)

   Charming 2 bed, 1 bath bungalow offers the perfect blend of character and updates. Updated kitchen, spacious living room with additional space for storage upstairs. One and a half car garage with additional space for workshop or artist studio. This bungalow is a must see!

4. 2026-05-07
   listed $79,900

   Show marketing remark (272 chars)

   Charming 2 bed, 1 bath bungalow offers the perfect blend of character and updates. Updated kitchen, spacious living room with additional space for storage upstairs. One and a half car garage with additional space for workshop or artist studio. This bungalow is a must see!

ⓘ 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: $922 · $77/mo
• Projected year-2 tax: $1,076 · $90/mo
• Expected delta: +$154/yr (+$13/mo · 16.7%)

ⓘ 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: $10,865
• − Mortgage interest: −$4,476
• − Property taxes: −$922
• − Insurance: −$400
• − Repairs & maintenance: −$869
• − Management: −$869
• − Depreciation: −$2,324
• Taxable income: $1,005
• Est. tax owed @ 24.0%: −$241
• After-tax cash flow: $1,992/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

+0.0% since first listed

4 events — show timeline

• 2026-05-08 Listing Removed — REALCOMP
• 2026-05-08 Listing Removed — MiRealSource-MiMLS
• 2026-05-07 Listed $79,900 REALCOMP
• 2026-05-07 Listed $79,900 MiRealSource-MiMLS

Property tax history

+0.9%/yr

Latest (2025): $922 · -22.5% YoY. Source: county tax records.