2805 Schemm St · Saginaw, MI 48602

$85,000

2 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 23 Days on market

Built 1884 0.42 ac lot Est $101k · 16% 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 +25.5/30.0
• ARV discount +14.8/15.0
• DSCR +8.4/10.0
• 1% rule +6.9/10.0
• 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

Looking for a place to truly call home? This charming 2-bedroom, 1-bath beauty might be exactly what you've been waiting for. The newer carpet in the living room, dining room and bedroom makes the home feel warm and inviting. The kitchen has new vinyl floor and fresh paint on walls and trim giving it a fresh clean look. The 2nd floor bedroom is large with a skylight adding natural lighting. The 1st floor bedroom is entered thru the original French doors that are in working condition. The detached 1 car garage sits behind the house so there is plenty of room on the . 42 acre lot! Schedule your personal showing today! Property is co-listed with Mitchell Fekete - Century 21 Affiliated - [phone]

Key facts

• Fresh paint
• French doors
• Newer carpet

Tags

• NEWER CARPET
• NEW VINYL FLOOR
• FRESH PAINT
• SKYLIGHT
• FRENCH DOORS
• DETACHED GARAGE

Property features AI

Finance

• Other: Subdivision: SCHEMM & SCHOENHEITS ADDITION; Cross streets: Brenner / Bay
• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-one-half story; Residential zoning
• Construction: Cedar construction
• Exterior features: City lot; Paved, publicly maintained road; Lot dimensions approximately 85 x 215.71

Interior

• Kitchen: Disposal; Oven; Range
• Bathrooms: One full bathroom
• Heating & cooling: Hot water heating (natural gas); Wall/window cooling unit(s)
• Interior features: Entrance foyer; Seven total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/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: $84k (1.5% 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; 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 ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 5y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $73k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1884 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,725 (1.5% below list)

Questions for the listing agent

1. Built in 1884 — 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: 1.19% ✓
• Cap rate: 9.09%
• Cash-on-cash: 10.00%
• DSCR: 1.44
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $101,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2844 Schemm St	0.08mi	3/1.0 (+1)	1,336 (-1%)	3mo	$40,000	$30	87
2408 State St	0.44mi	3/1.0 (+1)	1,362 (+1%)	1mo	$40,000	$29	73
251 Trier St	0.47mi	3/1.5 (+1)	1,262 (-7%)	2mo	$147,000	$116	59
1424 Acacia St	0.70mi	2/1.0	1,416 (+5%)	3mo	$66,500	$47	57
144 Lockwood St	0.36mi	2/1.0	1,164 (-14%)	4mo	$94,000	$81	56
278 Wylie St	0.56mi	3/1.5 (+1)	1,411 (+4%)	4mo	$148,000	$105	56
266 Lockwood St	0.52mi	3/2.0 (+1)	1,436 (+6%)	3mo	$150,000	$104	54
1954 Harry St	0.47mi	2/2.0	1,505 (+11%)	2mo	$90,000	$60	54
623 N Woodbridge St	0.66mi	2/1.0	1,217 (-10%)	1mo	$42,500	$35	52
3458 Mackinaw St	0.74mi	3/1.0 (+1)	1,275 (-6%)	3mo	$119,900	$94	48
1016 Thurman St	0.68mi	3/1.0 (+1)	1,230 (-9%)	3mo	$69,900	$57	46
267 Lockwood St	0.52mi	3/1.5 (+1)	1,553 (+15%)	2mo	$116,000	$75	43

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-112
• Equity at exit: $12,674

10-year hold

• IRR: 10.6%
• Equity multiple: 1.86×
• Total profit: $20,491
• 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: 7.0×

Monthly cashflow live

• Estimated rent: $1,014 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$122 /mo · $1,461/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $198

Break-even live

Break-even rent $763

Max offer price $85,000

Occupancy floor 75%

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: —

Listing history 50 events

1. 2026-06-09
   status $85,000 Pending 23 DOM
2. 2026-06-08
   days on market $85,000 Active 23 DOM
3. 2026-06-07
   days on market $85,000 Active 22 DOM
4. 2026-06-05
   days on market $85,000 Active 19 DOM
5. 2026-06-03
   days on market $85,000 Active 18 DOM
6. 2026-06-02
   pricedays on market $85,000 Active 17 DOM
7. 2026-06-01
   days on market $90,000 Active 16 DOM
8. 2026-05-31
   days on market $90,000 Active 15 DOM
9. 2026-05-30
   days on market $90,000 Active 14 DOM
10. 2026-05-16
    listed $90,000 Active 707-char remark

    Show marketing remark (707 chars)

    Looking for a place to truly call home? This charming 2-bedroom, 1-bath beauty might be exactly what you've been waiting for. The newer carpet in the living room, dining room and bedroom makes the home feel warm and inviting. The kitchen has new vinyl floor and fresh paint on walls and trim giving it a fresh clean look. The 2nd floor bedroom is large with a skylight adding natural lighting. The 1st floor bedroom is entered thru the original French doors that are in working condition. The detached 1 car garage sits behind the house so there is plenty of room on the . 42 acre lot! Schedule your personal showing today! Property is co-listed with Mitchell Fekete - Century 21 Affiliated - [phone]

11. 2026-05-16
    listed $90,000 Active

    Show marketing remark (707 chars)

    Looking for a place to truly call home? This charming 2-bedroom, 1-bath beauty might be exactly what you've been waiting for. The newer carpet in the living room, dining room and bedroom makes the home feel warm and inviting. The kitchen has new vinyl floor and fresh paint on walls and trim giving it a fresh clean look. The 2nd floor bedroom is large with a skylight adding natural lighting. The 1st floor bedroom is entered thru the original French doors that are in working condition. The detached 1 car garage sits behind the house so there is plenty of room on the . 42 acre lot! Schedule your personal showing today! Property is co-listed with Mitchell Fekete - Century 21 Affiliated - [phone]

12. 2025-05-12
    soldstatus $73,000
13. 2025-05-02
    soldstatus $73,000 Closed 438-char remark

    Show marketing remark (438 chars)

    Step into the warmth and character of this lovely older home, offering a perfect blend of charm and functionality. Situated on an extra deep lot, this home provides plenty of space for gardening and entertaining. Spacious kitchen with counter seating. Large living and dining rooms with timeless charm. First floor bedroom and full bath for convenience. Additional bedroom upstairs. Don't miss out on this charming older home. Call today!

14. 2025-05-02
    soldstatus $73,000 Closed

    Show marketing remark (438 chars)

    Step into the warmth and character of this lovely older home, offering a perfect blend of charm and functionality. Situated on an extra deep lot, this home provides plenty of space for gardening and entertaining. Spacious kitchen with counter seating. Large living and dining rooms with timeless charm. First floor bedroom and full bath for convenience. Additional bedroom upstairs. Don't miss out on this charming older home. Call today!

15. 2025-04-30
    status Pending

    Show marketing remark (438 chars)

    Step into the warmth and character of this lovely older home, offering a perfect blend of charm and functionality. Situated on an extra deep lot, this home provides plenty of space for gardening and entertaining. Spacious kitchen with counter seating. Large living and dining rooms with timeless charm. First floor bedroom and full bath for convenience. Additional bedroom upstairs. Don't miss out on this charming older home. Call today!

16. 2025-04-30
    status Pending 438-char remark

    Show marketing remark (438 chars)

    Step into the warmth and character of this lovely older home, offering a perfect blend of charm and functionality. Situated on an extra deep lot, this home provides plenty of space for gardening and entertaining. Spacious kitchen with counter seating. Large living and dining rooms with timeless charm. First floor bedroom and full bath for convenience. Additional bedroom upstairs. Don't miss out on this charming older home. Call today!

17. 2025-04-26
    price $76,000 438-char remark

    Show marketing remark (438 chars)

    Step into the warmth and character of this lovely older home, offering a perfect blend of charm and functionality. Situated on an extra deep lot, this home provides plenty of space for gardening and entertaining. Spacious kitchen with counter seating. Large living and dining rooms with timeless charm. First floor bedroom and full bath for convenience. Additional bedroom upstairs. Don't miss out on this charming older home. Call today!

18. 2025-04-25
    price $76,000
19. 2025-03-07
    price $79,900 438-char remark

    Show marketing remark (438 chars)

    Step into the warmth and character of this lovely older home, offering a perfect blend of charm and functionality. Situated on an extra deep lot, this home provides plenty of space for gardening and entertaining. Spacious kitchen with counter seating. Large living and dining rooms with timeless charm. First floor bedroom and full bath for convenience. Additional bedroom upstairs. Don't miss out on this charming older home. Call today!

20. 2025-03-06
    price $79,900
21. 2025-02-12
    listed $84,900 Active 438-char remark

    Show marketing remark (438 chars)

    Step into the warmth and character of this lovely older home, offering a perfect blend of charm and functionality. Situated on an extra deep lot, this home provides plenty of space for gardening and entertaining. Spacious kitchen with counter seating. Large living and dining rooms with timeless charm. First floor bedroom and full bath for convenience. Additional bedroom upstairs. Don't miss out on this charming older home. Call today!

22. 2025-02-12
    listed $84,900 Active

    Show marketing remark (438 chars)

    Step into the warmth and character of this lovely older home, offering a perfect blend of charm and functionality. Situated on an extra deep lot, this home provides plenty of space for gardening and entertaining. Spacious kitchen with counter seating. Large living and dining rooms with timeless charm. First floor bedroom and full bath for convenience. Additional bedroom upstairs. Don't miss out on this charming older home. Call today!

23. 2025-01-27
    historical
24. 2025-01-27
    historical
25. 2024-12-30
    price $84,000
26. 2024-12-29
    price $84,000
27. 2024-12-02
    historical
28. 2024-12-02
    listed $85,000 Active
29. 2024-12-02
    listed $85,000 Active
30. 2024-12-02
    historical
31. 2024-11-06
    price $85,000
32. 2024-11-06
    price $85,000
33. 2024-10-27
    price $89,000
34. 2024-10-26
    price $89,000
35. 2024-10-17
    status Active
36. 2024-10-17
    status Active
37. 2024-10-11
    status Pending
38. 2024-10-11
    status Pending
39. 2024-10-08
    listed $90,000 Active
40. 2024-10-08
    listed $90,000 Active
41. 2022-06-28
    soldstatus $77,000
42. 2022-06-16
    soldstatus $77,000 Sold
43. 2022-06-16
    soldstatus $77,000 Closed
44. 2022-05-18
    status Pending
45. 2022-05-18
    status Pending
46. 2022-05-16
    price $79,900
47. 2022-05-16
    price $79,900
48. 2022-05-12
    listed $74,900 Active
49. 2022-05-12
    listed $74,900 Active
50. 2022-05-01
    historical

ⓘ 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: $1,461 · $122/mo
• Projected year-2 tax: $1,461 · $122/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: $12,170
• − Mortgage interest: −$4,761
• − Property taxes: −$1,461
• − Insurance: −$425
• − Repairs & maintenance: −$974
• − Management: −$974
• − Depreciation: −$2,473
• Taxable income: $1,103
• Est. tax owed @ 24.0%: −$265
• After-tax cash flow: $2,115/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

+1.7% since first listed

70 events — show timeline

• 2026-05-16 Listed $90,000 REALCOMP
• 2026-05-16 Listed $90,000 MiRealSource-MiMLS
• 2025-05-12 Sold (Public Records) $73,000 Public Records
• 2025-05-02 Sold (MLS) $73,000 REALCOMP
• 2025-05-02 Sold (MLS) $73,000 MiRealSource-MiMLS
• 2025-04-30 Pending — REALCOMP
• 2025-04-30 Pending — MiRealSource-MiMLS
• 2025-04-26 Price Changed $76,000 MiRealSource-MiMLS
• 2025-04-25 Price Changed $76,000 REALCOMP
• 2025-03-07 Price Changed $79,900 MiRealSource-MiMLS
• 2025-03-06 Price Changed $79,900 REALCOMP
• 2025-02-12 Listed $84,900 REALCOMP
• 2025-02-12 Listed $84,900 MiRealSource-MiMLS
• 2025-01-27 Listing Removed — REALCOMP
• 2025-01-27 Listing Removed — MiRealSource-MiMLS
• 2024-12-30 Price Changed $84,000 MiRealSource-MiMLS
• 2024-12-29 Price Changed $84,000 REALCOMP
• 2024-12-02 Listing Removed — MiRealSource-MiMLS
• 2024-12-02 Listed $85,000 MiRealSource-MiMLS
• 2024-12-02 Listed $85,000 REALCOMP
• 2024-12-02 Listing Removed — REALCOMP
• 2024-11-06 Price Changed $85,000 MiRealSource-MiMLS
• 2024-11-06 Price Changed $85,000 REALCOMP
• 2024-10-27 Price Changed $89,000 MiRealSource-MiMLS
• 2024-10-26 Price Changed $89,000 REALCOMP
• 2024-10-17 Relisted — REALCOMP
• 2024-10-17 Relisted — MiRealSource-MiMLS
• 2024-10-11 Pending — REALCOMP
• 2024-10-11 Pending — MiRealSource-MiMLS
• 2024-10-08 Listed $90,000 MiRealSource-MiMLS
• 2024-10-08 Listed $90,000 REALCOMP
• 2022-06-28 Sold (Public Records) $77,000 Public Records
• 2022-06-16 Sold (MLS) $77,000 MiRealSource-MiMLS
• 2022-06-16 Sold (MLS) $77,000 REALCOMP
• 2022-05-18 Pending — MiRealSource-MiMLS
• 2022-05-18 Pending — REALCOMP
• 2022-05-16 Price Changed $79,900 MiRealSource-MiMLS
• 2022-05-16 Price Changed $79,900 REALCOMP
• 2022-05-12 Listed $74,900 MiRealSource-MiMLS
• 2022-05-12 Listed $74,900 REALCOMP
• 2022-05-01 Listing Removed — REALCOMP
• 2022-05-01 Listing Removed — MiRealSource-MiMLS
• 2022-03-29 Relisted — REALCOMP
• 2022-03-29 Relisted — MiRealSource-MiMLS
• 2022-03-18 Listing Removed — REALCOMP
• 2022-03-18 Listing Removed — MiRealSource-MiMLS
• 2022-02-17 Relisted — REALCOMP
• 2022-02-17 Relisted — MiRealSource-MiMLS
• 2022-02-04 Pending — REALCOMP
• 2022-02-04 Pending — MiRealSource-MiMLS
• 2022-01-28 Relisted — REALCOMP
• 2022-01-13 Listing Removed — REALCOMP
• 2021-12-14 Price Changed $74,900 MiRealSource-MiMLS
• 2021-12-14 Price Changed $74,900 REALCOMP
• 2021-12-07 Price Changed $76,900 MiRealSource-MiMLS
• 2021-12-07 Price Changed $76,900 REALCOMP
• 2021-11-30 Price Changed $77,900 MiRealSource-MiMLS
• 2021-11-29 Price Changed $77,900 REALCOMP
• 2021-11-23 Price Changed $78,900 MiRealSource-MiMLS
• 2021-11-22 Price Changed $78,900 REALCOMP
• 2021-11-04 Price Changed $79,900 MiRealSource-MiMLS
• 2021-11-03 Price Changed $79,900 REALCOMP
• 2021-10-29 Price Changed $83,900 MiRealSource-MiMLS
• 2021-10-28 Price Changed $83,900 REALCOMP
• 2021-10-08 Price Changed $84,900 MiRealSource-MiMLS
• 2021-10-08 Price Changed $84,900 REALCOMP
• 2021-09-29 Price Changed $87,500 MiRealSource-MiMLS
• 2021-09-28 Price Changed $87,500 REALCOMP
• 2021-09-17 Listed $88,500 MiRealSource-MiMLS
• 2021-09-17 Listed $88,500 REALCOMP

Property tax history

+1.1%/yr

Latest (2025): $1,461 · -22.5% YoY. Source: county tax records.