3005 Hanchett St · Saginaw, MI 48604

$135,000

3 bd · 1.0 ba · 1,119 sqft · SingleFamily public records · 15 Days on market

Built 1941 6,970 sqft lot Est $131k · at est.

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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 +24.5/30.0
• DSCR +7.9/10.0
• ARV discount +6.1/15.0
• 1% rule +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this well-maintained 3-bedroom, 2-bath home in Carrollton Schools! Built in the 1940s, this home has been cared for over the years and offers a great opportunity for someone looking to add their own personal touches and updates. Inside, you'll find a functional layout, an unfinished basement for additional storage or future possibilities, and a unique walk-up attic space measuring approximately 27x10. Whether you need extra storage, a hobby room, office space, or a future finished area, this bonus space offers plenty of flexibility. Outside, enjoy the convenience of a 2-car detached garage featuring newer doors and a roof that are approximately 1.5 years old. Plus, the lot directly behind the property is state-owned, providing added privacy with no immediate neighbors behind you. If you've been looking for a solid home with good bones, room to grow, and the chance to build equity through cosmetic updates, this may be the one. Come take a closer look and see how this house could become your next home, Homie.

Key facts

• Unfinished basement
• Walk-up attic space
• 6,970 sq ft lot

Tags

• UNFINISHED BASEMENT
• WALK-UP ATTIC SPACE
• 2-CAR DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-and-a-half story; Ground-level entry
• Construction: Vinyl siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.16 acres (60 x 120)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Forced air heating; Natural gas heating
• Interior features: Unfinished basement; 6 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $133k (1.5% 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.
• Carrollton Public Schools (suburban): math 9% / reading 26% proficiency, ranked #485 of 540 in MI (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 70 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 $933 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

• It's been on market 15 days — a 2% lower offer ($133k) 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.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — 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. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 8.76%
• Cash-on-cash: 8.82%
• DSCR: 1.39
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $130,923
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
626 Stoker Dr	0.13mi	3/1.0	1,012 (-10%)	1mo	$65,000	$64	77
3035 Schaeffer St	0.07mi	4/1.5 (+1)	1,186 (+6%)	6mo	$78,500	$66	75
2391 Shattuck Rd	0.56mi	3/1.0	1,114 (-0%)	0mo	$160,000	$144	73
723 Pioneer Trl	0.38mi	3/1.0	1,194 (+7%)	2mo	$109,000	$91	69
2355 Plainview Dr	0.56mi	3/1.0	1,064 (-5%)	3mo	$169,900	$160	63
2454 Durand St	0.62mi	4/1.0 (+1)	1,142 (+2%)	2mo	$33,500	$29	61
2241 Moonglow Ct	0.48mi	3/2.0	1,200 (+7%)	2mo	$225,000	$188	60
904 Oakview Dr	0.69mi	3/2.0	1,100 (-2%)	3mo	$159,000	$145	59
3459 Church St	0.67mi	3/1.0	1,024 (-8%)	4mo	$120,000	$117	51
3385 Church St	0.59mi	2/1.0 (-1)	1,234 (+10%)	5mo	$100,000	$81	47
3120 Barnard Rd	0.70mi	2/1.0 (-1)	1,250 (+12%)	4mo	$175,000	$140	40
3356 Winter St	0.64mi	4/1.0 (+1)	1,263 (+13%)	5mo	$120,000	$95	39

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-4,251
• Equity at exit: $20,129

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $18,803
• Equity at exit: $11,672

Cash invested: $37,800 (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 48604

• Home prices YoY: -24.6%
• Active inventory: 70
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$24 /mo · $294/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $278

Break-even live

Break-even rent $998

Max offer price $135,000

Occupancy floor 74%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4070 Green Isle Way Saginaw, MI	1.0–3.0	1.0–1.5	950	$1,350	$1.42	44d	15	1.33mi

Listing history 12 events

1. 2026-06-19
   days on market $135,000 Active 15 DOM
2. 2026-06-18
   days on market $135,000 Active 14 DOM
3. 2026-06-17
   days on market $135,000 Active 13 DOM
4. 2026-06-16
   days on market $135,000 Active 12 DOM
5. 2026-06-15
   days on market $135,000 Active 11 DOM
6. 2026-06-14
   days on market $135,000 Active 9 DOM
7. 2026-06-12
   days on market $135,000 Active 8 DOM
8. 2026-06-09
   days on market $135,000 Active 5 DOM
9. 2026-06-08
   days on market $135,000 Active 4 DOM
10. 2026-06-07
    days on market $135,000 Active 3 DOM
11. 2026-06-05
    remarks 699-char remark
12. 2026-06-05
    listed $135,000 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: $294 · $24/mo
• Projected year-2 tax: $1,186 · $99/mo
• Expected delta: +$893/yr (+$74/mo · 303.6%)

ⓘ 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: $16,200
• − Mortgage interest: −$7,562
• − Property taxes: −$294
• − Insurance: −$675
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$3,927
• Taxable income: $1,150
• Est. tax owed @ 24.0%: −$276
• After-tax cash flow: $3,058/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: Carrollton Public Schools
• NCES district ID: 2608070
• Math proficiency: 9% ▼ -6.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $39,147
• Composite: 14.74/100
• National rank: #9395
• State rank: #485 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

• City population: 54,884
• Population (ZIP): 11,284

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 8% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 10% Lithuanian 6% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Arabic 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: ▼ -68.55%
• Current HPI: 210.5278
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-04 Listed $135,000 MiRealSource-MiMLS
• 2026-06-04 Listed $135,000 REALCOMP

Property tax history

-12.2%/yr

Latest (2025): $294 · -80.7% YoY. Source: county tax records.