332 bullock St · Saginaw, MI 48602

$61,900

2 bd · 1.0 ba · 1,011 sqft · SingleFamily public records · 50 Days on market

Built 1947 Est $84k · 26% 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
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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

Charming well-maintained one-story home offers a cozy living space with two bedrooms and one bath. Located in a peaceful neighborhood, this property is perfect for those seeking a low-maintenance, comfortable living arrangement. Also has Partial Basement –Crawlspace –Brand New Roof – Tenant Occupied – Currently rented at $600/monthly lease up 03/2026 This property offers great potential for investors looking for steady rental income, or for someone interested in a quaint home with a strong foundation and modern updates. Don't miss out on this opportunity! For more information or to schedule a showing, please contact your favorite Realtor

Key facts

• Generous yard
• Convenient location
• Built 1947

Tags

• GENEROUS YARD
• INVITING LIVING AREAS
• CONVENIENT LOCATION

Property features AI

Exterior

• Utilities: Public water; Public sanitary sewer; Natural gas
• Home design: Residential single-story home; Built in 1947
• Construction: Vinyl siding; Basement foundation
• Exterior features: Road frontage (60')

Interior

• Kitchen: Main-level kitchen (approx. 11 x 9)
• Bedrooms: Two main-level bedrooms (both about 12 x 11)
• Bathrooms: One full bathroom on the main level (approx. 8 x 5)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Total of 5 rooms; Basement present
• Laundry & utility: Basement (utility/laundry area possible)

🏷️ Possibly a rental listed for sale. The $61,900 price doesn't fit this home's estimated sale value (~$83,913) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($894 rent vs $62k).
• Recommended offer: $60k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; 2 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 $428 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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 23y 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 $29k; list at $62k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,043 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1947 — 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: 1.44% ✓
• Cap rate: 11.50%
• Cash-on-cash: 18.61%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $83,913
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1514 Marquette St	0.43mi	2/1.5	986 (-2%)	2mo	$50,000	$51	72
1717 S Hamilton St	0.40mi	2/1.0	960 (-5%)	4mo	$42,000	$44	70
1511 Osborn St	0.57mi	2/1.0	1,041 (+3%)	1mo	$90,000	$86	68
1415 Lyon St	0.52mi	2/1.0	1,068 (+6%)	0mo	$74,900	$70	66
1700 Marquette St	0.58mi	2/1.0	963 (-5%)	1mo	$80,000	$83	64
1618 Greenwich St	0.55mi	2/1.0	960 (-5%)	4mo	$79,900	$83	62
1013 Maple St	0.64mi	3/1.0 (+1)	1,034 (+2%)	2mo	$66,000	$64	59
2233 S Niagara St	0.70mi	3/1.0 (+1)	972 (-4%)	1mo	$44,000	$45	55
310 S Bates St	0.63mi	3/1.0 (+1)	1,069 (+6%)	2mo	$42,000	$39	54
1 Southlawn Ct	0.58mi	3/1.0 (+1)	1,090 (+8%)	4mo	$116,900	$107	52
1529 Beech St	0.66mi	2/1.0	859 (-15%)	1mo	$75,000	$87	43
1542 Beech St	0.70mi	3/1.0 (+1)	864 (-14%)	1mo	$102,000	$118	38

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: 11.5%
• Equity multiple: 1.46×
• Total profit: $8,000
• Equity at exit: $9,229

10-year hold

• IRR: 21.3%
• Equity multiple: 2.89×
• Total profit: $32,819
• Equity at exit: $5,352

Cash invested: $17,332 (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: 5.8×

Monthly cashflow live

• Estimated rent: $894 medium
• Mortgage (P&I): −$325
• Tax from tax record: −$87 /mo · $1,049/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $269

Break-even live

Break-even rent $554

Max offer price $61,900

Occupancy floor 65%

Sensitivity live

Price	-10% $304	-5% $286	+0% $269	+5% $251	+10% $234
Rent	-10% $198	-5% $233	+0% $269	+5% $304	+10% $339
Rate	-1.0pp $300	-0.5pp $285	base $269	+0.5pp $253	+1.0pp $236

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: $15,475
• Closing costs: $1,857
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1827 Gilbert St Saginaw, MI	3.0	2.0	1008	$695	$0.69	44d	1	1.15mi
2021 Grout St Saginaw, MI	1.0–2.0	1.0	862	$995	$1.15	44d	1	1.23mi

Listing history 35 events

1. 2026-05-16
   price $61,900
2. 2026-05-07
   price $62,900
3. 2026-04-09
   listed $64,500 Active
4. 2025-09-14
   historical $1,250
5. 2025-09-03
   listed $1,250
6. 2025-04-22
   soldstatus $29,250 Closed 671-char remark

   Show marketing remark (695 chars)

   Charming well-maintained one-story home offers a cozy living space with two bedrooms and one bath. Located in a peaceful neighborhood, this property is perfect for those seeking a low-maintenance, comfortable living arrangement. Also has Partial Basement "“Crawlspace "“Brand New Roof "“ Tenant Occupied "“ Currently rented at $600/monthly lease up 03/2026 This property offers great potential for investors looking for steady rental income, or for someone interested in a quaint home with a strong foundation and modern updates. Don't miss out on this opportunity! For more information or to schedule a showing, please contact your favorite Realtor

7. 2025-04-22
   soldstatus $29,250 Closed 695-char remark

   Show marketing remark (695 chars)

   Charming well-maintained one-story home offers a cozy living space with two bedrooms and one bath. Located in a peaceful neighborhood, this property is perfect for those seeking a low-maintenance, comfortable living arrangement. Also has Partial Basement "“Crawlspace "“Brand New Roof "“ Tenant Occupied "“ Currently rented at $600/monthly lease up 03/2026 This property offers great potential for investors looking for steady rental income, or for someone interested in a quaint home with a strong foundation and modern updates. Don't miss out on this opportunity! For more information or to schedule a showing, please contact your favorite Realtor

8. 2025-04-01
   status Pending 695-char remark

   Show marketing remark (671 chars)

   Charming well-maintained one-story home offers a cozy living space with two bedrooms and one bath. Located in a peaceful neighborhood, this property is perfect for those seeking a low-maintenance, comfortable living arrangement. Also has Partial Basement –Crawlspace –Brand New Roof – Tenant Occupied – Currently rented at $600/monthly lease up 03/2026 This property offers great potential for investors looking for steady rental income, or for someone interested in a quaint home with a strong foundation and modern updates. Don't miss out on this opportunity! For more information or to schedule a showing, please contact your favorite Realtor

9. 2025-04-01
   status Pending 671-char remark

   Show marketing remark (671 chars)

   Charming well-maintained one-story home offers a cozy living space with two bedrooms and one bath. Located in a peaceful neighborhood, this property is perfect for those seeking a low-maintenance, comfortable living arrangement. Also has Partial Basement –Crawlspace –Brand New Roof – Tenant Occupied – Currently rented at $600/monthly lease up 03/2026 This property offers great potential for investors looking for steady rental income, or for someone interested in a quaint home with a strong foundation and modern updates. Don't miss out on this opportunity! For more information or to schedule a showing, please contact your favorite Realtor

10. 2025-03-30
    listed $30,000 Active 695-char remark

    Show marketing remark (671 chars)

    Charming well-maintained one-story home offers a cozy living space with two bedrooms and one bath. Located in a peaceful neighborhood, this property is perfect for those seeking a low-maintenance, comfortable living arrangement. Also has Partial Basement –Crawlspace –Brand New Roof – Tenant Occupied – Currently rented at $600/monthly lease up 03/2026 This property offers great potential for investors looking for steady rental income, or for someone interested in a quaint home with a strong foundation and modern updates. Don't miss out on this opportunity! For more information or to schedule a showing, please contact your favorite Realtor

11. 2025-03-30
    listed $30,000 Active 671-char remark

    Show marketing remark (671 chars)

    Charming well-maintained one-story home offers a cozy living space with two bedrooms and one bath. Located in a peaceful neighborhood, this property is perfect for those seeking a low-maintenance, comfortable living arrangement. Also has Partial Basement –Crawlspace –Brand New Roof – Tenant Occupied – Currently rented at $600/monthly lease up 03/2026 This property offers great potential for investors looking for steady rental income, or for someone interested in a quaint home with a strong foundation and modern updates. Don't miss out on this opportunity! For more information or to schedule a showing, please contact your favorite Realtor

12. 2010-09-04
    historical
13. 2010-09-04
    historical
14. 2008-08-13
    listed $34,900
15. 2008-08-13
    listed $34,900
16. 2008-06-23
    historical
17. 2008-06-23
    historical
18. 2008-01-23
    listed $34,900
19. 2008-01-23
    listed $34,900
20. 2008-01-23
    historical
21. 2008-01-23
    historical
22. 2007-10-18
    listed $34,900
23. 2007-10-18
    listed $34,900
24. 2007-02-22
    historical
25. 2007-02-22
    historical
26. 2006-08-22
    listed $44,900
27. 2006-08-22
    listed $44,900
28. 2006-04-21
    historical
29. 2006-04-21
    historical
30. 2005-10-21
    listed $49,900
31. 2005-10-21
    listed $49,900
32. 2003-06-30
    historical
33. 2003-06-30
    historical
34. 2003-02-20
    listed $51,900
35. 2003-02-20
    listed $51,900

ⓘ 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: $1,049 · $87/mo
• Projected year-2 tax: $1,049 · $87/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 ≥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: $10,733
• − Mortgage interest: −$3,467
• − Property taxes: −$1,049
• − Insurance: −$310
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$1,801
• Taxable income: $2,390
• Est. tax owed @ 24.0%: −$573
• After-tax cash flow: $2,652/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

+19.3% since first listed

35 events — show timeline

• 2026-05-16 Price Changed $61,900 MiRealSource-MiMLS
• 2026-05-07 Price Changed $62,900 MiRealSource-MiMLS
• 2026-04-09 Listed $64,500 MiRealSource-MiMLS
• 2025-09-14 Rental Removed $1,250 Avail
• 2025-09-03 Listed for Rent $1,250 Avail
• 2025-04-22 Sold (MLS) $29,250 REALCOMP
• 2025-04-22 Sold (MLS) $29,250 MiRealSource-MiMLS
• 2025-04-01 Pending — REALCOMP
• 2025-04-01 Pending — MiRealSource-MiMLS
• 2025-03-30 Listed $30,000 REALCOMP
• 2025-03-30 Listed $30,000 MiRealSource-MiMLS
• 2010-09-04 Listing Removed — REALCOMP
• 2010-09-04 Listing Removed — MiRealSource-MiMLS
• 2008-08-13 Listed $34,900 REALCOMP
• 2008-08-13 Listed $34,900 MiRealSource-MiMLS
• 2008-06-23 Listing Removed — REALCOMP
• 2008-06-23 Listing Removed — MiRealSource-MiMLS
• 2008-01-23 Listing Removed — REALCOMP
• 2008-01-23 Listing Removed — MiRealSource-MiMLS
• 2008-01-23 Listed $34,900 REALCOMP
• 2008-01-23 Listed $34,900 MiRealSource-MiMLS
• 2007-10-18 Listed $34,900 REALCOMP
• 2007-10-18 Listed $34,900 MiRealSource-MiMLS
• 2007-02-22 Listing Removed — REALCOMP
• 2007-02-22 Listing Removed — MiRealSource-MiMLS
• 2006-08-22 Listed $44,900 REALCOMP
• 2006-08-22 Listed $44,900 MiRealSource-MiMLS
• 2006-04-21 Listing Removed — REALCOMP
• 2006-04-21 Listing Removed — MiRealSource-MiMLS
• 2005-10-21 Listed $49,900 REALCOMP
• 2005-10-21 Listed $49,900 MiRealSource-MiMLS
• 2003-06-30 Listing Removed — MiRealSource-MiMLS
• 2003-06-30 Listing Removed — REALCOMP
• 2003-02-20 Listed $51,900 MiRealSource-MiMLS
• 2003-02-20 Listed $51,900 REALCOMP

Property tax history

+0.6%/yr

Latest (2025): $1,049 · -49.3% YoY. Source: county tax records.