3315 Fulton St · Saginaw, MI 48601

$25,000

3 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 76 Days on market

Built 1952 4,792 sqft lot Est $36k · 30% under ↓ 17% since listing

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check out this amazing investor special! This opportunity is suitable for a buy-and-hold investor looking to add to their rental portfolio. Located minutes from downtown Saginaw, I-675 and major employment corridors. Strong rental demand in the area. Property sold as-is. BATVAI

Key facts

• 4,792 sq ft lot
• Garage
• Built 1952

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public sewer; Other water source
• Home design: Single-family residence; One level; Ground-level entry with steps; Brick and vinyl siding exterior
• Construction: Brick/mortar foundation
• Exterior features: Paved road access; Lot roughly 0.11 acres (approx. 39.99 x 124.88)

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Three total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $711 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $24k (6.0% below list) — sets the bar for market timing.
• Cap rate 40.4% 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: 201 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $173 of loan paydown is wiped out by about $750 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 + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($24k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $5k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $23,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 4.61% ✓
• Cap rate: 40.42%
• Cash-on-cash: 121.88%
• DSCR: 6.42
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $35,910
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3221 Fulton St	0.07mi	3/1.5	972 (-5%)	1mo	$47,000	$48	85
3232 Ruckle St	0.21mi	3/1.0	1,174 (+14%)	4mo	$41,000	$35	62
3012 Walters Dr	0.67mi	3/1.0	1,008 (-2%)	7mo	$50,000	$50	60
1923 Phelon St	0.67mi	2/1.0 (-1)	1,000 (-2%)	0mo	$4,500	$5	59
2411 Beechwood Ave	0.50mi	3/1.0	952 (-7%)	8mo	$40,000	$42	58
2523 E Holland Ave	0.52mi	2/1.0 (-1)	987 (-4%)	8mo	$18,100	$18	58
919 S 4th Ave	0.65mi	3/1.0	1,090 (+6%)	3mo	$4,000	$4	56
1521 Fenton St	0.51mi	3/1.0	1,100 (+7%)	9mo	$28,000	$25	56
3016 Fairview St	0.67mi	3/1.0	954 (-7%)	3mo	$22,000	$23	55
4125 Hiland St	0.71mi	3/1.0	1,092 (+6%)	3mo	$90,000	$82	54
2928 Walters Dr	0.64mi	3/1.0	936 (-9%)	7mo	$36,000	$38	50
2021 Cumberland St	0.63mi	2/1.0 (-1)	874 (-15%)	5mo	$14,500	$17	37

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: —
• Equity multiple: 6.89×
• Total profit: $41,264
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 14.48×
• Total profit: $94,378
• Equity at exit: $2,162

Cash invested: $7,000 (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 48601

• Home prices YoY: -32.1%
• Active inventory: 201
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,153 high
• Mortgage (P&I): −$131
• Tax from tax record: −$58 /mo · $700/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $711

Break-even live

Break-even rent $253

Max offer price $25,000

Occupancy floor 33%

Sensitivity live

Price	-10% $725	-5% $718	+0% $711	+5% $704	+10% $697
Rent	-10% $620	-5% $665	+0% $711	+5% $757	+10% $802
Rate	-1.0pp $724	-0.5pp $717	base $711	+0.5pp $704	+1.0pp $698

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3328 Webber St Saginaw, MI	3.0	1.0	878	$1,250	$1.42	44d	1	0.12mi
2554 Apollo Dr Unit AP2554 Saginaw, MI	3.0	2.0	960	$883	$0.92	44d	1	1.29mi
2564 Apollo Dr Unit AP2564 Saginaw, MI	3.0	2.0	960	$883	$0.92	44d	1	1.30mi
2620 Gemini St Unit GE2620 Saginaw, MI	3.0	2.0	1140	$920	$0.81	44d	1	1.37mi
2800 Gemini St Unit GE2800 Saginaw, MI	3.0	2.0	960	$920	$0.96	44d	1	1.49mi

Listing history 10 events

1. 2026-05-31
   days on market $25,000 Active 76 DOM
2. 2026-05-30
   days on market $25,000 Active 75 DOM
3. 2026-05-15
   status Active 278-char remark

   Show marketing remark (278 chars)

   Check out this amazing investor special! This opportunity is suitable for a buy-and-hold investor looking to add to their rental portfolio. Located minutes from downtown Saginaw, I-675 and major employment corridors. Strong rental demand in the area. Property sold as-is. BATVAI

4. 2026-05-15
   status Active

   Show marketing remark (278 chars)

   Check out this amazing investor special! This opportunity is suitable for a buy-and-hold investor looking to add to their rental portfolio. Located minutes from downtown Saginaw, I-675 and major employment corridors. Strong rental demand in the area. Property sold as-is. BATVAI

5. 2026-03-25
   status Pending 278-char remark

   Show marketing remark (278 chars)

   Check out this amazing investor special! This opportunity is suitable for a buy-and-hold investor looking to add to their rental portfolio. Located minutes from downtown Saginaw, I-675 and major employment corridors. Strong rental demand in the area. Property sold as-is. BATVAI

6. 2026-03-25
   status Pending

   Show marketing remark (278 chars)

   Check out this amazing investor special! This opportunity is suitable for a buy-and-hold investor looking to add to their rental portfolio. Located minutes from downtown Saginaw, I-675 and major employment corridors. Strong rental demand in the area. Property sold as-is. BATVAI

7. 2026-02-19
   price $25,000 278-char remark

   Show marketing remark (278 chars)

   Check out this amazing investor special! This opportunity is suitable for a buy-and-hold investor looking to add to their rental portfolio. Located minutes from downtown Saginaw, I-675 and major employment corridors. Strong rental demand in the area. Property sold as-is. BATVAI

8. 2026-02-18
   price $25,000
9. 2026-01-24
   listed $30,000 Active 278-char remark

   Show marketing remark (278 chars)

   Check out this amazing investor special! This opportunity is suitable for a buy-and-hold investor looking to add to their rental portfolio. Located minutes from downtown Saginaw, I-675 and major employment corridors. Strong rental demand in the area. Property sold as-is. BATVAI

10. 2026-01-24
    listed $30,000 Active

    Show marketing remark (278 chars)

    Check out this amazing investor special! This opportunity is suitable for a buy-and-hold investor looking to add to their rental portfolio. Located minutes from downtown Saginaw, I-675 and major employment corridors. Strong rental demand in the area. Property sold as-is. BATVAI

ⓘ 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: $700 · $58/mo
• Projected year-2 tax: $700 · $58/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: $13,835
• − Mortgage interest: −$1,400
• − Property taxes: −$700
• − Insurance: −$125
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$727
• Taxable income: $8,669
• Est. tax owed @ 24.0%: −$2,081
• After-tax cash flow: $6,451/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
• City population: 54,884
• Population (ZIP): 32,069

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 0.56)
• Race & ethnicity: Black 59% White 27% Hispanic / Latino 12% Two or more races 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▼ -93.46%
• Current HPI: 197.3359
• 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

-16.7% since first listed

8 events — show timeline

• 2026-05-15 Relisted — MiRealSource-MiMLS
• 2026-05-15 Relisted — REALCOMP
• 2026-03-25 Pending — MiRealSource-MiMLS
• 2026-03-25 Pending — REALCOMP
• 2026-02-19 Price Changed $25,000 MiRealSource-MiMLS
• 2026-02-18 Price Changed $25,000 REALCOMP
• 2026-01-24 Listed $30,000 REALCOMP
• 2026-01-24 Listed $30,000 MiRealSource-MiMLS

Property tax history

-1.9%/yr

Latest (2025): $700 · -16.3% YoY. Source: county tax records.