1107 State St · Saginaw, MI 48602

$60,000

6 bd · 2.0 ba · 1,460 sqft · SingleFamily public records · 57 Days on market

Built 1902 7,405 sqft lot Est $96k · 38% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Updated 2 unit property located on the west side of Saginaw. This property is ideal for both owner occupants and investors seeking a rental. The lower unit features a comfortable 1 bedroom layout, while the upper unit offers a spacious 2 bedroom design, providing flexibility for rental income or multi generational living. This property has been renovated, updates include All new plumbing with updated fixtures Brand new kitchen cabinets, sink, and faucet Brand new showers New windows throughout, including basement windows New flooring Fresh paint across the entire property New electrical wiring with two separate electric panels (one for each unit) New siding and a new roof for long term durability Please call today for your private showing. Don’t miss this opportunity.

Key facts

• New plumbing
• New kitchen cabinets
• Upper unit

Tags

• LOWER UNIT
• UPPER UNIT
• NEW PLUMBING
• NEW KITCHEN CABINETS
• NEW SHOWERS
• NEW WINDOWS

Property features AI

Exterior

• Utilities: Public water; No sewer information provided
• Home design: Two-story multi-family residential income property
• Construction: Above-grade finished area about 1,452 square feet
• Exterior features: Lot approximately 60 x 120.88

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; No central cooling
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.2% vs local median 8.3% in Saginaw — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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).
• This rent runs 34% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $415 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y ago; this cycle's ask has dropped $10k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $4k; list at $60k implies a 1400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.20% ✓
• Cap rate: 18.22%
• Cash-on-cash: 42.61%
• DSCR: 2.90
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $96,360
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1803 N Oakley St	0.24mi	5/1.0 (-1)	1,386 (-5%)	17mo	$87,500	$63	57
2419 Barnard St	0.57mi	5/1.5 (-1)	1,644 (+13%)	2mo	$160,000	$97	44
2720 Pine St	0.73mi	5/1.0 (-1)	1,592 (+9%)	15mo	$105,000	$66	29

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: 40.5%
• Equity multiple: 2.76×
• Total profit: $29,627
• Equity at exit: $8,946

10-year hold

• IRR: 47.3%
• Equity multiple: 5.79×
• Total profit: $80,388
• Equity at exit: $5,188

Cash invested: $16,800 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,321 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$107 /mo · $1,284/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $597

Break-even live

Break-even rent $565

Max offer price $60,000

Occupancy floor 50%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-06-19
   days on market $60,000 Active 57 DOM
2. 2026-06-18
   days on market $60,000 Active 56 DOM
3. 2026-06-17
   days on market $60,000 Active 55 DOM
4. 2026-06-17
   price $60,000 Active 54 DOM
5. 2026-06-16
   days on market $65,000 Active 54 DOM
6. 2026-06-15
   days on market $65,000 Active 53 DOM
7. 2026-06-14
   days on market $65,000 Active 51 DOM
8. 2026-06-12
   days on market $65,000 Active 50 DOM
9. 2026-06-09
   days on market $65,000 Active 47 DOM
10. 2026-06-08
    days on market $65,000 Active 46 DOM
11. 2026-06-07
    days on market $65,000 Active 45 DOM
12. 2026-06-05
    pricedays on market $65,000 Active 42 DOM
13. 2026-06-03
    days on market $70,000 Active 41 DOM
14. 2026-06-02
    days on market $70,000 Active 40 DOM
15. 2026-06-01
    days on market $70,000 Active 39 DOM
16. 2026-05-31
    days on market $70,000 Active 38 DOM
17. 2026-05-30
    days on market $70,000 Active 37 DOM
18. 2026-04-23
    listed $70,000 Active

    Show marketing remark (785 chars)

    Updated 2 unit property located on the west side of Saginaw. This property is ideal for both owner occupants and investors seeking a rental. The lower unit features a comfortable 1 bedroom layout, while the upper unit offers a spacious 2 bedroom design, providing flexibility for rental income or multi generational living. This property has been renovated, updates include All new plumbing with updated fixtures Brand new kitchen cabinets, sink, and faucet Brand new showers New windows throughout, including basement windows New flooring Fresh paint across the entire property New electrical wiring with two separate electric panels (one for each unit) New siding and a new roof for long term durability Please call today for your private showing. Don’t miss this opportunity.

19. 2026-04-23
    listed $70,000 Active 785-char remark

    Show marketing remark (785 chars)

    Updated 2 unit property located on the west side of Saginaw. This property is ideal for both owner occupants and investors seeking a rental. The lower unit features a comfortable 1 bedroom layout, while the upper unit offers a spacious 2 bedroom design, providing flexibility for rental income or multi generational living. This property has been renovated, updates include All new plumbing with updated fixtures Brand new kitchen cabinets, sink, and faucet Brand new showers New windows throughout, including basement windows New flooring Fresh paint across the entire property New electrical wiring with two separate electric panels (one for each unit) New siding and a new roof for long term durability Please call today for your private showing. Don’t miss this opportunity.

20. 2020-06-18
    soldstatus $4,000 Sold 1026-char remark

    Show marketing remark (1026 chars)

    Home features 3 bedrooms & 2 full baths. Call today for more information. Buyer shall select the title/closing agent, unless seller specifically requests a particular title/closing agent. Buyer at their sole expense shall pay the owner’s title insurance policy and shall pay the title examination fee and premium for such policy. Buyer shall pay all closing fees & costs including settlement, deed and/or closing fees & costs to the closing/title agent regardless of local custom. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges. The buyer is responsible for verifying any possible liens, judgements and/or assessments. This is an AS IS sale. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges.

21. 2020-06-18
    soldstatus $4,000 Closed

    Show marketing remark (1026 chars)

    Home features 3 bedrooms & 2 full baths. Call today for more information. Buyer shall select the title/closing agent, unless seller specifically requests a particular title/closing agent. Buyer at their sole expense shall pay the owner’s title insurance policy and shall pay the title examination fee and premium for such policy. Buyer shall pay all closing fees & costs including settlement, deed and/or closing fees & costs to the closing/title agent regardless of local custom. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges. The buyer is responsible for verifying any possible liens, judgements and/or assessments. This is an AS IS sale. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges.

22. 2020-06-06
    status Pending 1026-char remark

    Show marketing remark (1026 chars)

    Home features 3 bedrooms & 2 full baths. Call today for more information. Buyer shall select the title/closing agent, unless seller specifically requests a particular title/closing agent. Buyer at their sole expense shall pay the owner’s title insurance policy and shall pay the title examination fee and premium for such policy. Buyer shall pay all closing fees & costs including settlement, deed and/or closing fees & costs to the closing/title agent regardless of local custom. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges. The buyer is responsible for verifying any possible liens, judgements and/or assessments. This is an AS IS sale. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges.

23. 2020-06-06
    status Pending

    Show marketing remark (1026 chars)

    Home features 3 bedrooms & 2 full baths. Call today for more information. Buyer shall select the title/closing agent, unless seller specifically requests a particular title/closing agent. Buyer at their sole expense shall pay the owner’s title insurance policy and shall pay the title examination fee and premium for such policy. Buyer shall pay all closing fees & costs including settlement, deed and/or closing fees & costs to the closing/title agent regardless of local custom. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges. The buyer is responsible for verifying any possible liens, judgements and/or assessments. This is an AS IS sale. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges.

24. 2020-05-13
    price $9,400

    Show marketing remark (1026 chars)

    Home features 3 bedrooms & 2 full baths. Call today for more information. Buyer shall select the title/closing agent, unless seller specifically requests a particular title/closing agent. Buyer at their sole expense shall pay the owner’s title insurance policy and shall pay the title examination fee and premium for such policy. Buyer shall pay all closing fees & costs including settlement, deed and/or closing fees & costs to the closing/title agent regardless of local custom. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges. The buyer is responsible for verifying any possible liens, judgements and/or assessments. This is an AS IS sale. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges.

25. 2020-05-13
    price $9,400 1026-char remark

    Show marketing remark (1026 chars)

    Home features 3 bedrooms & 2 full baths. Call today for more information. Buyer shall select the title/closing agent, unless seller specifically requests a particular title/closing agent. Buyer at their sole expense shall pay the owner’s title insurance policy and shall pay the title examination fee and premium for such policy. Buyer shall pay all closing fees & costs including settlement, deed and/or closing fees & costs to the closing/title agent regardless of local custom. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges. The buyer is responsible for verifying any possible liens, judgements and/or assessments. This is an AS IS sale. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges.

26. 2020-03-12
    listed $9,900 Active 1026-char remark

    Show marketing remark (1026 chars)

    Home features 3 bedrooms & 2 full baths. Call today for more information. Buyer shall select the title/closing agent, unless seller specifically requests a particular title/closing agent. Buyer at their sole expense shall pay the owner’s title insurance policy and shall pay the title examination fee and premium for such policy. Buyer shall pay all closing fees & costs including settlement, deed and/or closing fees & costs to the closing/title agent regardless of local custom. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges. The buyer is responsible for verifying any possible liens, judgements and/or assessments. This is an AS IS sale. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges.

27. 2020-03-12
    listed $9,900 Active

    Show marketing remark (1026 chars)

    Home features 3 bedrooms & 2 full baths. Call today for more information. Buyer shall select the title/closing agent, unless seller specifically requests a particular title/closing agent. Buyer at their sole expense shall pay the owner’s title insurance policy and shall pay the title examination fee and premium for such policy. Buyer shall pay all closing fees & costs including settlement, deed and/or closing fees & costs to the closing/title agent regardless of local custom. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges. The buyer is responsible for verifying any possible liens, judgements and/or assessments. This is an AS IS sale. Seller will NOT be responsible for any unpaid real estate taxes and/or assessments, levies, homeowner/condo association fees, costs and/or charges, utilities, code violations and any other charges.

28. 2019-09-06
    historical
29. 2019-09-06
    historical
30. 2019-07-30
    price $13,900
31. 2019-07-30
    price $13,900
32. 2019-06-18
    listed $14,900 Active
33. 2019-06-18
    listed $14,900 Active
34. 2015-04-23
    historical
35. 2015-04-21
    historical
36. 2015-03-20
    listed $7,500
37. 2015-03-20
    listed $7,500
38. 2004-08-23
    soldstatus $49,000

ⓘ 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: $1,284 · $107/mo
• Projected year-2 tax: $1,284 · $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 ≥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: $15,846
• − Mortgage interest: −$3,361
• − Property taxes: −$1,284
• − Insurance: −$300
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$1,745
• Taxable income: $6,620
• Est. tax owed @ 24.0%: −$1,589
• After-tax cash flow: $5,570/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

+42.9% since first listed

21 events — show timeline

• 2026-04-23 Listed $70,000 REALCOMP
• 2026-04-23 Listed $70,000 MiRealSource-MiMLS
• 2020-06-18 Sold (MLS) $4,000 MiRealSource-MiMLS
• 2020-06-18 Sold (MLS) $4,000 REALCOMP
• 2020-06-06 Pending — REALCOMP
• 2020-06-06 Pending — MiRealSource-MiMLS
• 2020-05-13 Price Changed $9,400 MiRealSource-MiMLS
• 2020-05-13 Price Changed $9,400 REALCOMP
• 2020-03-12 Listed $9,900 MiRealSource-MiMLS
• 2020-03-12 Listed $9,900 REALCOMP
• 2019-09-06 Listing Removed — REALCOMP
• 2019-09-06 Listing Removed — MiRealSource-MiMLS
• 2019-07-30 Price Changed $13,900 MiRealSource-MiMLS
• 2019-07-30 Price Changed $13,900 REALCOMP
• 2019-06-18 Listed $14,900 MiRealSource-MiMLS
• 2019-06-18 Listed $14,900 REALCOMP
• 2015-04-23 Listing Removed — MiRealSource-MiMLS
• 2015-04-21 Listing Removed — REALCOMP
• 2015-03-20 Listed $7,500 MiRealSource-MiMLS
• 2015-03-20 Listed $7,500 REALCOMP
• 2004-08-23 Sold (Public Records) $49,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $1,284 · -28.6% YoY. Source: county tax records.