2020 Thorne St · Saginaw, MI 48602

$82,000

2 bd · 1.0 ba · 910 sqft · SingleFamily public records · 29 Days on market

Built 1950 4,792 sqft lot Est $116k · 29% 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.5/10.0
• 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

Great starter home or investment property. 2 bed, 1 bath, solid built home in great location. Possible third bedroom on second floor. AC, large shed and partially fenced yard. Close to schools, shopping and entertainment in the very heart of Saginaw. Very near to the Handley/SASA schools. Short drive to SVSU and Delta College. Easy and close interstate access. Call today for more details and to schedule a personal tour.

Key facts

• Close to schools
• Large shed
• Close to shopping

Tags

• LARGE SHED
• PARTIALLY FENCED YARD
• CLOSE TO SCHOOLS
• CLOSE TO SHOPPING
• CLOSE TO ENTERTAINMENT
• SHORT DRIVE TO SVSU

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half story
• Construction: Aluminum siding
• Exterior features: Lot dimensions approximately 14 x 120; Lot about 0.11 acres

Interior

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

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($942 rent vs $82k).
• Recommended offer: $81k (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 $567 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 $23k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 12y 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 $26k; list at $82k implies a 217% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,770 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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: 1.15% ✓
• Cap rate: 8.83%
• Cash-on-cash: 9.05%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $115,570
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3423 Court St	0.08mi	2/1.0	780 (-14%)	6mo	$75,000	$96	68
2515 Dow Pl	0.52mi	2/1.0	872 (-4%)	2mo	$145,000	$166	68
2821 Cooper Ave	0.64mi	2/1.0	917 (+1%)	3mo	$95,000	$104	66
2817 Cooper Ave	0.65mi	2/1.0	904 (-1%)	9mo	$65,000	$72	61
4167 Vera St	0.54mi	2/1.0	988 (+9%)	2mo	$174,000	$176	58
3139 Weiss Rd	0.53mi	3/1.5 (+1)	936 (+3%)	8mo	$150,000	$160	57
2331 Whitemore Pl	0.31mi	3/1.0 (+1)	1,009 (+11%)	9mo	$122,000	$121	55
2292 Bay St	0.70mi	2/1.0	866 (-5%)	7mo	$36,000	$42	54
2426 Whitemore Rd	0.40mi	2/1.5	1,016 (+12%)	8mo	$129,000	$127	53
3711 Weiss St	0.62mi	3/1.0 (+1)	973 (+7%)	4mo	$151,000	$155	51
35 Congress Court A	0.59mi	3/1.5 (+1)	1,026 (+13%)	0mo	$115,000	$112	44
3716 Weiss St	0.66mi	3/1.0 (+1)	1,008 (+11%)	7mo	$129,900	$129	40

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: -1.5%
• Equity multiple: 0.94×
• Total profit: $-1,299
• Equity at exit: $12,226

10-year hold

• IRR: 9.2%
• Equity multiple: 1.74×
• Total profit: $17,069
• Equity at exit: $7,090

Cash invested: $22,960 (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: 7.3×

Monthly cashflow live

• Estimated rent: $942 medium
• Mortgage (P&I): −$430
• Tax from tax record: −$107 /mo · $1,278/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $173

Break-even live

Break-even rent $722

Max offer price $82,000

Occupancy floor 77%

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-09
   status $82,000 Pending 29 DOM
2. 2026-06-08
   days on market $82,000 Active 29 DOM
3. 2026-06-07
   days on market $82,000 Active 28 DOM
4. 2026-06-05
   days on market $82,000 Active 25 DOM
5. 2026-06-03
   days on market $82,000 Active 24 DOM
6. 2026-06-02
   days on market $82,000 Active 23 DOM
7. 2026-06-01
   days on market $82,000 Active 22 DOM
8. 2026-05-31
   days on market $82,000 Active 21 DOM
9. 2026-05-30
   days on market $82,000 Active 20 DOM
10. 2026-05-07
    listed $87,000 Active

    Show marketing remark (423 chars)

    Great starter home or investment property. 2 bed, 1 bath, solid built home in great location. Possible third bedroom on second floor. AC, large shed and partially fenced yard. Close to schools, shopping and entertainment in the very heart of Saginaw. Very near to the Handley/SASA schools. Short drive to SVSU and Delta College. Easy and close interstate access. Call today for more details and to schedule a personal tour.

11. 2026-05-07
    listed $87,000 Active 423-char remark

    Show marketing remark (423 chars)

    Great starter home or investment property. 2 bed, 1 bath, solid built home in great location. Possible third bedroom on second floor. AC, large shed and partially fenced yard. Close to schools, shopping and entertainment in the very heart of Saginaw. Very near to the Handley/SASA schools. Short drive to SVSU and Delta College. Easy and close interstate access. Call today for more details and to schedule a personal tour.

12. 2022-12-01
    historical
13. 2022-11-30
    historical
14. 2022-11-15
    listed $72,000 Active
15. 2022-11-15
    listed $72,000 Active
16. 2022-11-13
    historical
17. 2022-11-13
    historical
18. 2022-11-01
    status Active
19. 2022-11-01
    status Active
20. 2022-10-01
    historical Contingent - Continue To Show
21. 2022-10-01
    historical Keep Showing-Contgcy Appl
22. 2022-09-15
    listed $72,000 Active
23. 2022-09-15
    listed $72,000 Active
24. 2017-06-28
    soldstatus $25,900
25. 2017-06-28
    soldstatus $25,900 Closed
26. 2017-06-12
    status Pending
27. 2017-05-23
    listed $27,900 Active
28. 2017-05-23
    listed $27,900
29. 2014-06-04
    soldstatus $22,000
30. 2014-06-04
    soldstatus $22,000
31. 2014-05-20
    historical
32. 2014-05-16
    historical
33. 2014-05-16
    historical
34. 2014-05-05
    listed $26,900
35. 2014-05-05
    listed $26,900
36. 2014-05-05
    listed $26,900
37. 2014-05-05
    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: $1,278 · $107/mo
• Projected year-2 tax: $1,278 · $107/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: $11,300
• − Mortgage interest: −$4,593
• − Property taxes: −$1,278
• − Insurance: −$410
• − Repairs & maintenance: −$904
• − Management: −$904
• − Depreciation: −$2,385
• Taxable income: $825
• Est. tax owed @ 24.0%: −$198
• After-tax cash flow: $1,881/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

+223.4% since first listed

28 events — show timeline

• 2026-05-07 Listed $87,000 MiRealSource-MiMLS
• 2026-05-07 Listed $87,000 REALCOMP
• 2022-12-01 Listing Removed — MiRealSource-MiMLS
• 2022-11-30 Listing Removed — REALCOMP
• 2022-11-15 Listed $72,000 MiRealSource-MiMLS
• 2022-11-15 Listed $72,000 REALCOMP
• 2022-11-13 Listing Removed — MiRealSource-MiMLS
• 2022-11-13 Listing Removed — REALCOMP
• 2022-11-01 Relisted — REALCOMP
• 2022-11-01 Relisted — MiRealSource-MiMLS
• 2022-10-01 Contingent — REALCOMP
• 2022-10-01 Contingent — MiRealSource-MiMLS
• 2022-09-15 Listed $72,000 MiRealSource-MiMLS
• 2022-09-15 Listed $72,000 REALCOMP
• 2017-06-28 Sold (MLS) $25,900 MiRealSource-MiMLS
• 2017-06-28 Sold (MLS) $25,900 REALCOMP
• 2017-06-12 Pending — MiRealSource-MiMLS
• 2017-05-23 Listed $27,900 MiRealSource-MiMLS
• 2017-05-23 Listed $27,900 REALCOMP
• 2014-06-04 Sold (MLS) $22,000 REALCOMP
• 2014-06-04 Sold (MLS) $22,000 MiRealSource-MiMLS
• 2014-05-20 Listing Removed — MiRealSource-MiMLS
• 2014-05-16 Listing Removed — MiRealSource-MiMLS
• 2014-05-16 Listing Removed — REALCOMP
• 2014-05-05 Listed $26,900 MiRealSource-MiMLS
• 2014-05-05 Listed $26,900 REALCOMP
• 2014-05-05 Listed $26,900 REALCOMP
• 2014-05-05 Listed $26,900 MiRealSource-MiMLS

Property tax history

+5.1%/yr

Latest (2025): $1,278 · -3.1% YoY. Source: county tax records.