620 E Washington St · Tittabawassee, MI 48623

$134,900

2 bd · 1.0 ba · 1,014 sqft · SingleFamily public records · 12 Days on market

6,970 sqft lot Est $177k · 24% 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 +7.5/10.0
• Schools +5.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent starter or retirement home located in the heart of Freeland, 2 or 3 bedrooms, hardwood floors, new shingles and gutters on the house in 2022, water heater in 2022, new sewer line to the road in 2016, newer bay window, first floor laundry, full basement, 2 1/2 car garage, all on a nicely fenced lot.

Key facts

• Newer bay window
• Water heater
• New gutters

Tags

• HARDWOOD FLOORS
• NEW SHINGLES
• NEW GUTTERS
• WATER HEATER
• NEW SEWER LINE
• NEWER BAY WINDOW

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached garage with automatic opener; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Aluminum and vinyl siding; Block foundation; Built with traditional construction (year not provided)
• Exterior features: Front porch; Fenced yard; City lot; Paved road access; Lot approximately 60 x 120 (0.16 acres)

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Flooring: Hardwood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Bay windows; 7 total rooms; Basement (block foundation)
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $526 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Freeland Community School District (suburban): math 54% / reading 61% proficiency, ranked #46 of 540 in MI (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 96 active listings in the ZIP; 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $11k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $96k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $134,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 1.25% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.72%
• DSCR: 1.74
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $177,450
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 N 4th St	0.12mi	3/1.0 (+1)	1,096 (+8%)	8mo	$195,000	$178	69
335 N Third St	0.21mi	2/1.0	912 (-10%)	10mo	$165,000	$181	65
275 N Second St	0.22mi	3/1.5 (+1)	1,080 (+6%)	10mo	$189,000	$175	63
225 Johnson St	0.35mi	3/1.0 (+1)	960 (-5%)	9mo	$212,500	$221	62
175 N Fourth St	0.11mi	3/1.0 (+1)	1,120 (+10%)	12mo	$165,000	$147	62
286 Church St	0.22mi	1/1.0 (-1)	882 (-13%)	2mo	$125,000	$142	61
175 N Third St	0.16mi	3/1.0 (+1)	1,064 (+5%)	23mo	$105,000	$99	60
315 S Second St	0.24mi	3/1.5 (+1)	1,122 (+11%)	6mo	$150,000	$134	59

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: 7.8%
• Equity multiple: 1.31×
• Total profit: $11,600
• Equity at exit: $20,114

10-year hold

• IRR: 17.1%
• Equity multiple: 2.40×
• Total profit: $53,034
• Equity at exit: $11,664

Cash invested: $37,772 (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 48623

• Home prices YoY: -26.7%
• Active inventory: 96
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,681 medium
• Mortgage (P&I): −$707
• Tax from tax record: −$38 /mo · $460/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $526

Break-even live

Break-even rent $1,015

Max offer price $134,900

Occupancy floor 64%

Sensitivity live

Price	-10% $603	-5% $564	+0% $526	+5% $488	+10% $450
Rent	-10% $393	-5% $460	+0% $526	+5% $593	+10% $659
Rate	-1.0pp $594	-0.5pp $561	base $526	+0.5pp $491	+1.0pp $456

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $134,900 Active 12 DOM
2. 2026-06-19
   days on market $134,900 Active 10 DOM
3. 2026-06-18
   days on market $134,900 Active 9 DOM
4. 2026-06-17
   days on market $134,900 Active 8 DOM
5. 2026-06-16
   days on market $134,900 Active 7 DOM
6. 2026-06-16
   price $134,900 Active 6 DOM
7. 2026-06-15
   days on market $149,900 Active 6 DOM
8. 2026-06-14
   days on market $149,900 Active 4 DOM
9. 2026-06-12
   remarks 309-char remark
10. 2026-06-12
    listed $149,900 Active 3 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: $460 · $38/mo
• Projected year-2 tax: $1,269 · $106/mo
• Expected delta: +$809/yr (+$67/mo · 175.9%)

ⓘ 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 ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,175
• − Mortgage interest: −$7,556
• − Property taxes: −$460
• − Insurance: −$674
• − Repairs & maintenance: −$1,614
• − Management: −$1,614
• − Depreciation: −$3,924
• Taxable income: $4,332
• Est. tax owed @ 24.0%: −$1,040
• After-tax cash flow: $5,275/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: Freeland Community School District
• NCES district ID: 2615060
• Math proficiency: 54% ▼ -4.00%
• Reading proficiency: 61% ▼ -3.00%
• Median HH income: $70,875
• Composite: 50.98/100
• National rank: #1779
• State rank: #46 of 540 in MI

Livability — Tittabawassee

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Freeland, MI
• Population (ZIP): 15,126

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 (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 5% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 5% Slovak 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -78.02%
• Current HPI: 213.8908
• 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

+149.8% since first listed

11 events — show timeline

• 2026-06-10 Price Changed $149,900 MiRealSource-MiMLS
• 2026-06-09 Price Changed $149,900 REALCOMP
• 2026-06-09 Listed $145,900 REALCOMP
• 2026-06-09 Listed $145,900 MiRealSource-MiMLS
• 2006-11-06 Sold (Public Records) $96,000 Public Records
• 2006-10-31 Sold (MLS) $96,000 MiRealSource-MiMLS
• 2006-10-10 Listing Removed — MiRealSource-MiMLS
• 2006-08-08 Listed $102,900 MiRealSource-MiMLS
• 2006-07-31 Listing Removed — MiRealSource-MiMLS
• 2005-10-21 Listed $89,900 MiRealSource-MiMLS
• 2002-04-25 Sold (Public Records) $60,000 Public Records

Property tax history

-7.6%/yr

Latest (2025): $460 · -75.0% YoY. Source: county tax records.