4816 Leaside Dr · Saginaw, MI 48603

$190,000

3 bd · 1.5 ba · 1,862 sqft · SingleFamily public records · 1 Days on market

Built 1960 10,454 sqft lot Est $210k · 10% 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 +13.6/30.0
• ARV discount +11.9/15.0
• Rent growth +4.4/5.0
• DSCR +4.1/10.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• 1% rule +2.9/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this Saginaw Twp multi level with three bedrooms & two baths. The Formal Living & Dining area is L shaped, enjoy the fireplace while dining or relaxing with a beverage later. There is new carpeting in that area, as well as the Family room. Each of three bedrooms have hard wood floors. The home has an open floor plan, yet with the multi levels offer defined spaces. The yard offers great curb appeal, room to garden & cultivate, if you like.

Key facts

• Hard wood floors
• Open floor plan
• Great curb appeal

Tags

• FORMAL LIVING AND DINING AREA
• NEW CARPETING
• HARD WOOD FLOORS
• OPEN FLOOR PLAN
• GREAT CURB APPEAL
• ROOM TO GARDEN

Property features AI

Finance

• HOA & community: Homeowners association; Community street lights

Exterior

• Parking: Detached 2-car garage with garage door opener; garage faces side
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels
• Construction: Aluminum siding and brick exterior; Block foundation
• Exterior features: Paved road access; Street lights in community; Lot dimensions approximately 70 x 155 (0.24 acres)

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Ceiling fans; Window air conditioning units
• Interior features: Eat-in kitchen; Entrance foyer; High-speed internet; Living room fireplace; Walk-out basement access
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $12 ($144/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 $150k (20.9% below list).
• Recommended offer: $150k (20.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 8.3% in Saginaw — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 Township Community Schools (suburban): math 27% / reading 45% proficiency, ranked #265 of 540 in MI (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.7%/yr); 156 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $150,347 (20.9% 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: 0.79% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $210,406
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5287 Weiss St	0.53mi	4/2.5 (+1)	1,884 (+1%)	3mo	$175,000	$93	62
4291 Ann St	0.75mi	3/1.5	1,836 (-1%)	1mo	$140,000	$76	62
4335 Bradford Dr	0.47mi	4/1.5 (+1)	1,980 (+6%)	9mo	$245,500	$124	55
3280 E Wintergreen Dr	0.61mi	4/2.0 (+1)	1,776 (-5%)	7mo	$200,000	$113	51
5059 Weiss St	0.35mi	3/2.5	2,128 (+14%)	8mo	$159,000	$75	49
4185 Shattuck Rd	0.62mi	3/1.5	1,673 (-10%)	10mo	$190,000	$114	46
2688 Linda St	0.55mi	3/1.5	2,124 (+14%)	7mo	$210,000	$99	45
2105 Marlou Ct	0.71mi	2/2.0 (-1)	1,724 (-7%)	8mo	$173,000	$100	41
4396 Bradford Dr	0.42mi	4/3.0 (+1)	2,130 (+14%)	6mo	$265,000	$124	40
3262 Delevan Dr	0.69mi	4/2.5 (+1)	1,968 (+6%)	11mo	$252,000	$128	40
2325 N Center Rd	0.44mi	4/3.0 (+1)	2,096 (+13%)	10mo	$212,000	$101	40
2441 Berberovich Dr	0.60mi	4/2.0 (+1)	1,634 (-12%)	10mo	$241,000	$147	36

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 · 7.71% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.57×
• Total profit: $-22,623
• Equity at exit: $28,330

10-year hold

• IRR: 3.2%
• Equity multiple: 1.28×
• Total profit: $14,794
• Equity at exit: $16,428

Cash invested: $53,200 (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 48603

• Rents YoY: 7.7%
• Active inventory: 156
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,503 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$100 /mo · $1,203/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $12

Break-even live

Break-even rent $1,488

Max offer price $190,000

Occupancy floor 94%

Sensitivity live

Price	-10% $120	-5% $66	+0% $12	+5% $-42	+10% $-96
Rent	-10% $-107	-5% $-47	+0% $12	+5% $71	+10% $131
Rate	-1.0pp $108	-0.5pp $60	base $12	+0.5pp $-37	+1.0pp $-87

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: $47,500
• Closing costs: $5,700
• 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	44d	1	0.81mi

Listing history 3 events

1. 2026-06-03
   status $190,000 Pending 1 DOM
2. 2026-06-02
   remarks 457-char remark
3. 2026-06-02
   listed $190,000 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: $1,203 · $100/mo
• Projected year-2 tax: $2,064 · $172/mo
• Expected delta: +$862/yr (+$72/mo · 71.7%)

ⓘ 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: $18,042
• − Mortgage interest: −$10,643
• − Property taxes: −$1,203
• − Insurance: −$950
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$5,527
• Taxable loss: −$3,168
• Est. tax savings @ 24.0%: +$760
• After-tax cash flow: $904/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 Township Community Schools
• NCES district ID: 2630450
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $48,971
• Composite: 31.01/100
• National rank: #6094
• State rank: #265 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

• County: Saginaw County · 54,884 people
• City population: 54,884
• Metro: Saginaw, MI
• Population (ZIP): 27,757
• Household income: $66,352
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1106.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 10% Asian 5% Two or more races 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 8% Lithuanian 7% Slovak 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Other Indo-European 3% Spanish 2% Other Asian/Pacific 1%

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: ▼ -103.35%
• Current HPI: 152.7507
• Rent YoY: ▲ 7.71%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-01 Listed $190,000 REALCOMP
• 2026-06-01 Listed $190,000 MiRealSource-MiMLS

Property tax history

-1.7%/yr

Latest (2025): $1,203 · -48.0% YoY. Source: county tax records.