2518 Whitemore Pl · Saginaw, MI 48602

$140,000

4 bd · 1.5 ba · 1,996 sqft · SingleFamily public records · 5 Days on market

Built 1960 Est $184k · 24% under

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• 1% rule +4.0/10.0
• 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

The seller is highly motivated and ready to consider offers. Property is being sold as-is and will require cosmetic repairs and updates. Whether you’re looking for your next renovation project or an affordable home to customize to your taste, this property presents a fantastic opportunity. Bring your tools, ideas, and imagination this diamond in the rough is waiting to shine again! Did I mention it’s a 4 bedroom Tri-level centrally located to all the shopping centers. Come take a look!

Key facts

• 2 garage spots
• Built 1960
• Listed 4 days

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $43 ($518/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (9.6% below list).
• Recommended offer: $126k (9.6% below list) — sets the bar for 1% rule.

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: crime F, amenities F, commute 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.
• Zoned schools: Thompson Middle School (math 6% / reading 13%, grade F, #479 of 493 statewide, top 97%, 397 students, 93% FRL) — zoned schools average 93% FRL vs 76% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 24% district-wide (-15 pts) — the specific schools serving this property underperform the Saginaw School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+4.0%/yr); 253 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% 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 $968 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 26y 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 $25k; list at $140k implies a 471% gain — meaningful room to come down on a strong offer.

Recommended offer $126,494 (9.6% below list)

Questions for the listing agent

1. Built in 1960 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 6.66%
• Cash-on-cash: 1.32%
• DSCR: 1.06
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $183,632
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2247 Mayfield Rd	0.27mi	3/1.5 (-1)	2,020 (+1%)	4mo	$200,500	$99	77
2711 Willard St	0.26mi	3/2.0 (-1)	1,935 (-3%)	7mo	$173,000	$89	70
2509 Whitemore Pl	0.03mi	3/1.5 (-1)	1,725 (-14%)	3mo	$170,000	$99	69
2912 State St	0.43mi	5/1.5 (+1)	1,914 (-4%)	2mo	$147,500	$77	67
3117 Brockton Pl	0.12mi	3/1.5 (-1)	1,744 (-13%)	4mo	$159,900	$92	65
3320 W Genesee Ave	0.47mi	3/1.5 (-1)	2,088 (+5%)	3mo	$117,500	$56	63
2507 Kipling Dr	0.15mi	3/1.5 (-1)	2,292 (+15%)	6mo	$216,000	$94	58
2312 Passolt St	0.54mi	3/2.0 (-1)	2,098 (+5%)	5mo	$188,900	$90	55
2834 Clayburn Rd	0.34mi	3/1.5 (-1)	1,702 (-15%)	3mo	$170,000	$100	52
1 Wiltse Ct	0.51mi	3/1.5 (-1)	2,260 (+13%)	1mo	$234,900	$104	48
2917 Wynes St	0.56mi	4/2.0	1,760 (-12%)	7mo	$145,700	$83	46
1955 Fairfield St	0.66mi	5/2.5 (+1)	1,824 (-9%)	4mo	$159,900	$88	42

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: -13.1%
• Equity multiple: 0.52×
• Total profit: $-18,665
• Equity at exit: $20,874

10-year hold

• IRR: -2.7%
• Equity multiple: 0.81×
• Total profit: $-7,391
• Equity at exit: $12,105

Cash invested: $39,200 (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: 253
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,265 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$164 /mo · $1,963/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $43

Break-even live

Break-even rent $1,210

Max offer price $140,000

Occupancy floor 92%

Sensitivity live

Price	-10% $122	-5% $83	+0% $43	+5% $4	+10% $-36
Rent	-10% $-57	-5% $-7	+0% $43	+5% $93	+10% $143
Rate	-1.0pp $114	-0.5pp $79	base $43	+0.5pp $7	+1.0pp $-30

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4156 Ann St Saginaw, MI	4.0	1.5	1387	$1,225	$0.88	45d	1	0.72mi

Listing history 5 events

1. 2026-06-22
   days on market $140,000 Active 5 DOM
2. 2026-06-19
   days on market $140,000 Active 2 DOM
3. 2026-06-18
   listing id $140,000 Active 1 DOM
4. 2026-05-31
   remarks 490-char remark
5. 2026-05-31
   listed $140,000 Active 1 DOM

ⓘ 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: $1,963 · $164/mo
• Projected year-2 tax: $2,060 · $172/mo
• Expected delta: +$96/yr (+$8/mo · 4.9%)

ⓘ 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 ≥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: $15,179
• − Mortgage interest: −$7,842
• − Property taxes: −$1,963
• − Insurance: −$700
• − Repairs & maintenance: −$1,214
• − Management: −$1,214
• − Depreciation: −$4,073
• Taxable loss: −$1,828
• Est. tax savings @ 24.0%: +$439
• After-tax cash flow: $957/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

+33.3% since first listed

20 events — show timeline

• 2026-05-30 Listed $140,000 MiRealSource-MiMLS
• 2026-05-30 Listed $140,000 REALCOMP
• 2010-01-28 Sold (MLS) $24,519 REALCOMP
• 2010-01-28 Sold (MLS) $24,519 MiRealSource-MiMLS
• 2009-09-24 Listing Removed — MiRealSource-MiMLS
• 2009-04-10 Listed $44,000 REALCOMP
• 2009-04-10 Listed $44,000 MiRealSource-MiMLS
• 2007-08-15 Listing Removed — MiRealSource-MiMLS
• 2007-08-15 Listing Removed — REALCOMP
• 2007-02-16 Listed $113,900 MiRealSource-MiMLS
• 2007-02-16 Listed $113,900 REALCOMP
• 2001-12-17 Sold (Public Records) $103,600 Public Records
• 2001-11-21 Sold (MLS) $103,600 REALCOMP
• 2001-11-21 Sold (MLS) $103,600 MiRealSource-MiMLS
• 2001-10-16 Listed $89,900 REALCOMP
• 2001-10-16 Listed $89,900 MiRealSource-MiMLS
• 2000-05-23 Listing Removed — REALCOMP
• 2000-05-23 Listing Removed — MiRealSource-MiMLS
• 2000-05-21 Listed $105,000 REALCOMP
• 2000-05-21 Listed $105,000 MiRealSource-MiMLS

Property tax history

-1.2%/yr

Latest (2025): $1,963 · -20.1% YoY. Source: county tax records.