2015 W Genesee Ave · Saginaw, MI 48602

$69,000

2 bd · 1.0 ba · 776 sqft · SingleFamily public records · 477 Days on market

Built 1926 4,792 sqft lot Est $70k · at est.

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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 +27.3/30.0
• DSCR +9.5/10.0
• 1% rule +8.0/10.0
• ARV discount +8.0/15.0
• 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 property has many recent upgrades and is fully compliant and rented. Section 8 pays directly to the owner. The rent is $881, Insurance: $38.92, Taxes: $141.38, the landlord receives Positive Cash Flow. Do Not disturb tenants! Serious buyers only!

Key facts

• 4,792 sq ft lot
• Built 1926
• Listed 477 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: Aluminum siding; Block foundation
• Exterior features: Paved road access; Asphalt roof

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Basement present; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($898 rent vs $69k).
• Recommended offer: $61k (12.0% 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 $477 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 $19k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 477 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 16y 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.
• Current owner paid $38k; list at $69k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 477 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 1926 — 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: 1.30% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.45%
• DSCR: 1.55
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $69,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1815 W Genesee	0.12mi	2/1.0	818 (+5%)	1mo	$74,000	$90	84
2105 Mershon St	0.18mi	2/1.0	822 (+6%)	5mo	$120,000	$146	78
2200 State St	0.15mi	3/1.0 (+1)	756 (-3%)	10mo	$57,500	$76	76
1906 N Charles St	0.05mi	3/1.0 (+1)	684 (-12%)	10mo	$65,000	$95	64
1629 Mershon St	0.30mi	2/1.0	672 (-13%)	3mo	$57,000	$85	61
2529 N BOND St	0.70mi	2/1.0	763 (-2%)	6mo	$65,000	$85	59
2312 Durand St	0.47mi	2/1.0	849 (+9%)	4mo	$24,750	$29	59
920 Cronk Ave	0.67mi	2/1.0	714 (-8%)	4mo	$54,500	$76	52
2292 Bay St	0.54mi	2/1.0	866 (+12%)	7mo	$36,000	$42	50
2600 Deindorfer St	0.60mi	2/1.0	702 (-10%)	8mo	$72,000	$103	50
2524 N Carolina St	0.55mi	3/1.0 (+1)	845 (+9%)	7mo	$78,000	$92	49
2512 Blake St	0.54mi	2/1.0	663 (-15%)	9mo	$74,000	$112	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: 3.3%
• Equity multiple: 1.13×
• Total profit: $2,512
• Equity at exit: $10,288

10-year hold

• IRR: 13.9%
• Equity multiple: 2.16×
• Total profit: $22,502
• Equity at exit: $5,966

Cash invested: $19,320 (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: 6.4×

Monthly cashflow live

• Estimated rent: $898 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$118 /mo · $1,421/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $200

Break-even live

Break-even rent $644

Max offer price $69,000

Occupancy floor 73%

Sensitivity live

Price	-10% $239	-5% $220	+0% $200	+5% $181	+10% $161
Rent	-10% $129	-5% $165	+0% $200	+5% $236	+10% $271
Rate	-1.0pp $235	-0.5pp $218	base $200	+0.5pp $183	+1.0pp $164

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-19
   days on market $69,000 Active 477 DOM
2. 2026-06-18
   days on market $69,000 Active 476 DOM
3. 2026-06-17
   days on market $69,000 Active 475 DOM
4. 2026-06-16
   days on market $69,000 Active 474 DOM
5. 2026-06-15
   days on market $69,000 Active 473 DOM
6. 2026-06-14
   days on market $69,000 Active 471 DOM
7. 2026-06-12
   days on market $69,000 Active 470 DOM
8. 2026-06-09
   days on market $69,000 Active 467 DOM
9. 2026-06-08
   days on market $69,000 Active 466 DOM
10. 2026-06-07
    days on market $69,000 Active 465 DOM
11. 2026-06-05
    days on market $69,000 Active 462 DOM
12. 2026-06-03
    days on market $69,000 Active 461 DOM
13. 2026-06-02
    days on market $69,000 Active 460 DOM
14. 2026-06-01
    days on market $69,000 Active 459 DOM
15. 2026-05-31
    days on market $69,000 Active 458 DOM
16. 2026-05-30
    days on market $69,000 Active 457 DOM
17. 2026-03-27
    status Active
18. 2026-03-27
    historical
19. 2025-04-22
    status Active
20. 2025-04-21
    historical
21. 2025-02-26
    listed $69,000 Active

    Show marketing remark (346 chars)

    Landlords/Investors, enjoy the guaranteed rental payments with this Section 8 rental property. This property has many recent upgrades and is fully compliant and rented. Section 8 pays directly to the owner. The rent is $881, Insurance: $38.92, Taxes: $141.38, the landlord receives Positive Cash Flow. Do Not disturb tenants! Serious buyers only!

22. 2025-02-26
    listed $69,000 Active 346-char remark

    Show marketing remark (346 chars)

    Landlords/Investors, enjoy the guaranteed rental payments with this Section 8 rental property. This property has many recent upgrades and is fully compliant and rented. Section 8 pays directly to the owner. The rent is $881, Insurance: $38.92, Taxes: $141.38, the landlord receives Positive Cash Flow. Do Not disturb tenants! Serious buyers only!

23. 2022-10-20
    soldstatus $38,500 Sold 388-char remark

    Show marketing remark (388 chars)

    Well-maintained home on Saginaw's west side offering 2/BR, 1/Bath, hardwood floors throughout living room and bedrooms, laminate wood flooring in kitchen, basement with plenty of storage, screened-in front porch, large backyard with privacy fence and storage shed. Minutes away from Bay Road, Downtown Saginaw, and shopping centers. Come make this your new home! Agent related to seller

24. 2022-10-20
    soldstatus $38,500 Closed

    Show marketing remark (388 chars)

    Well-maintained home on Saginaw's west side offering 2/BR, 1/Bath, hardwood floors throughout living room and bedrooms, laminate wood flooring in kitchen, basement with plenty of storage, screened-in front porch, large backyard with privacy fence and storage shed. Minutes away from Bay Road, Downtown Saginaw, and shopping centers. Come make this your new home! Agent related to seller

25. 2022-10-14
    status Pending

    Show marketing remark (388 chars)

    Well-maintained home on Saginaw's west side offering 2/BR, 1/Bath, hardwood floors throughout living room and bedrooms, laminate wood flooring in kitchen, basement with plenty of storage, screened-in front porch, large backyard with privacy fence and storage shed. Minutes away from Bay Road, Downtown Saginaw, and shopping centers. Come make this your new home! Agent related to seller

26. 2022-10-14
    status Pending 388-char remark

    Show marketing remark (388 chars)

    Well-maintained home on Saginaw's west side offering 2/BR, 1/Bath, hardwood floors throughout living room and bedrooms, laminate wood flooring in kitchen, basement with plenty of storage, screened-in front porch, large backyard with privacy fence and storage shed. Minutes away from Bay Road, Downtown Saginaw, and shopping centers. Come make this your new home! Agent related to seller

27. 2022-10-09
    listed $45,000 Active 388-char remark

    Show marketing remark (388 chars)

    Well-maintained home on Saginaw's west side offering 2/BR, 1/Bath, hardwood floors throughout living room and bedrooms, laminate wood flooring in kitchen, basement with plenty of storage, screened-in front porch, large backyard with privacy fence and storage shed. Minutes away from Bay Road, Downtown Saginaw, and shopping centers. Come make this your new home! Agent related to seller

28. 2022-10-09
    listed $45,000 Active

    Show marketing remark (388 chars)

    Well-maintained home on Saginaw's west side offering 2/BR, 1/Bath, hardwood floors throughout living room and bedrooms, laminate wood flooring in kitchen, basement with plenty of storage, screened-in front porch, large backyard with privacy fence and storage shed. Minutes away from Bay Road, Downtown Saginaw, and shopping centers. Come make this your new home! Agent related to seller

29. 2011-08-17
    historical
30. 2011-08-17
    historical
31. 2011-01-18
    listed $9,900
32. 2011-01-18
    listed $9,900
33. 2010-10-25
    historical
34. 2010-10-25
    historical
35. 2010-04-25
    listed $25,600
36. 2010-04-25
    listed $25,600

ⓘ 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: $1,421 · $118/mo
• Projected year-2 tax: $1,421 · $118/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 ≥100°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: $10,776
• − Mortgage interest: −$3,865
• − Property taxes: −$1,421
• − Insurance: −$345
• − Repairs & maintenance: −$862
• − Management: −$862
• − Depreciation: −$2,007
• Taxable income: $1,414
• Est. tax owed @ 24.0%: −$339
• After-tax cash flow: $2,066/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

+169.5% since first listed

20 events — show timeline

• 2026-03-27 Relisted — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2025-04-22 Relisted — REALCOMP
• 2025-04-21 Listing Removed — REALCOMP
• 2025-02-26 Listed $69,000 REALCOMP
• 2025-02-26 Listed $69,000 MiRealSource-MiMLS
• 2022-10-20 Sold (MLS) $38,500 MiRealSource-MiMLS
• 2022-10-20 Sold (MLS) $38,500 REALCOMP
• 2022-10-14 Pending — MiRealSource-MiMLS
• 2022-10-14 Pending — REALCOMP
• 2022-10-09 Listed $45,000 MiRealSource-MiMLS
• 2022-10-09 Listed $45,000 REALCOMP
• 2011-08-17 Listing Removed — REALCOMP
• 2011-08-17 Listing Removed — MiRealSource-MiMLS
• 2011-01-18 Listed $9,900 REALCOMP
• 2011-01-18 Listed $9,900 MiRealSource-MiMLS
• 2010-10-25 Listing Removed — MiRealSource-MiMLS
• 2010-10-25 Listing Removed — REALCOMP
• 2010-04-25 Listed $25,600 MiRealSource-MiMLS
• 2010-04-25 Listed $25,600 REALCOMP

Property tax history

+4.2%/yr

Latest (2025): $1,421 · -16.3% YoY. Source: county tax records.