2422 Snelling Pl · Saginaw, MI 48601

$99,900

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 92 Days on market

Built 1970 7,405 sqft lot ↓ 5% since listing

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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 +27.6/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready 3-bedroom home with a new kitchen and updated bath, freshly finished floors, a clean full basement, and an attached garage. A well-cared-for property offering both comfort and convenience. Call today to schedule a showing!

Key facts

• 7,405 sq ft lot
• Garage
• Built 1970

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $91k (9.0% 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: 201 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 $691 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 + 3.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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: 1.20% ✓
• Cap rate: 9.89%
• Cash-on-cash: 12.86%
• DSCR: 1.57
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $36,556
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2422 Snelling Pl	0.00mi	3/1.0	988 (0%)	1mo	$97,084	$98	99
2621 Wadsworth Ave	0.10mi	2/1.0 (-1)	958 (-3%)	3mo	$10,000	$10	83
996 Athens Rd	0.39mi	3/1.0	936 (-5%)	2mo	$70,000	$75	72
824 N 26th St	0.50mi	3/1.0	996 (+1%)	8mo	$8,500	$9	69
2800 Lapeer Ave	0.42mi	3/1.0	975 (-1%)	15mo	$67,000	$69	66
347 S 19th St	0.64mi	3/1.0	950 (-4%)	5mo	$27,500	$29	59
137 S 16th St	0.48mi	3/1.0	928 (-6%)	14mo	$47,000	$51	56
315 S 19th St	0.58mi	2/1.0 (-1)	912 (-8%)	5mo	$34,000	$37	51
514 N 8th St	0.65mi	3/1.0	1,058 (+7%)	8mo	$17,000	$16	51
2511 Needham St	0.62mi	3/1.0	894 (-10%)	13mo	$60,000	$67	44
2954 Fuller St	0.65mi	3/1.0	900 (-9%)	22mo	$23,000	$26	37
427 S 19th St	0.72mi	2/1.0 (-1)	874 (-12%)	11mo	$19,000	$22	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.10×
• Total profit: $2,896
• Equity at exit: $14,895

10-year hold

• IRR: 12.3%
• Equity multiple: 1.97×
• Total profit: $27,078
• Equity at exit: $8,638

Cash invested: $27,972 (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 48601

• Home prices YoY: -32.1%
• Active inventory: 201
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,202 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$84 /mo · $1,013/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $300

Break-even live

Break-even rent $823

Max offer price $99,900

Occupancy floor 70%

Sensitivity live

Price	-10% $356	-5% $328	+0% $300	+5% $271	+10% $243
Rent	-10% $205	-5% $252	+0% $300	+5% $347	+10% $395
Rate	-1.0pp $350	-0.5pp $325	base $300	+0.5pp $274	+1.0pp $248

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-15
   status Pending

   Show marketing remark (236 chars)

   Move-in ready 3-bedroom home with a new kitchen and updated bath, freshly finished floors, a clean full basement, and an attached garage. A well-cared-for property offering both comfort and convenience. Call today to schedule a showing!

2. 2026-04-15
   status Pending 236-char remark

   Show marketing remark (236 chars)

   Move-in ready 3-bedroom home with a new kitchen and updated bath, freshly finished floors, a clean full basement, and an attached garage. A well-cared-for property offering both comfort and convenience. Call today to schedule a showing!

3. 2026-02-16
   price $99,900 236-char remark

   Show marketing remark (236 chars)

   Move-in ready 3-bedroom home with a new kitchen and updated bath, freshly finished floors, a clean full basement, and an attached garage. A well-cared-for property offering both comfort and convenience. Call today to schedule a showing!

4. 2026-02-16
   price $99,900

   Show marketing remark (236 chars)

   Move-in ready 3-bedroom home with a new kitchen and updated bath, freshly finished floors, a clean full basement, and an attached garage. A well-cared-for property offering both comfort and convenience. Call today to schedule a showing!

5. 2026-01-13
   listed $104,900 Active

   Show marketing remark (236 chars)

   Move-in ready 3-bedroom home with a new kitchen and updated bath, freshly finished floors, a clean full basement, and an attached garage. A well-cared-for property offering both comfort and convenience. Call today to schedule a showing!

6. 2026-01-13
   listed $104,900 Active 236-char remark

   Show marketing remark (236 chars)

   Move-in ready 3-bedroom home with a new kitchen and updated bath, freshly finished floors, a clean full basement, and an attached garage. A well-cared-for property offering both comfort and convenience. Call today to schedule a showing!

ⓘ 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: $1,013 · $84/mo
• Projected year-2 tax: $1,276 · $106/mo
• Expected delta: +$263/yr (+$22/mo · 25.9%)

ⓘ 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: $14,425
• − Mortgage interest: −$5,596
• − Property taxes: −$1,013
• − Insurance: −$500
• − Repairs & maintenance: −$1,154
• − Management: −$1,154
• − Depreciation: −$2,906
• Taxable income: $2,103
• Est. tax owed @ 24.0%: −$505
• After-tax cash flow: $3,092/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
• City population: 54,884
• Population (ZIP): 32,069

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 0.56)
• Race & ethnicity: Black 59% White 27% Hispanic / Latino 12% Two or more races 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▼ -93.46%
• Current HPI: 197.3359
• Rent YoY: —
• Metro: —
• 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

-4.8% since first listed

6 events — show timeline

• 2026-04-15 Pending — REALCOMP
• 2026-04-15 Pending — MiRealSource-MiMLS
• 2026-02-16 Price Changed $99,900 MiRealSource-MiMLS
• 2026-02-16 Price Changed $99,900 REALCOMP
• 2026-01-13 Listed $104,900 REALCOMP
• 2026-01-13 Listed $104,900 MiRealSource-MiMLS

Property tax history

+2.0%/yr

Latest (2025): $1,013 · -16.3% YoY. Source: county tax records.