1617 Dillon St · Saginaw, MI 48601

$65,000

3 bd · 1.0 ba · 1,004 sqft · SingleFamily public records · 8 Days on market

Built 1965 6,970 sqft lot Est $67k · at est.

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.0/15.0
• 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

17 single-family homes located throughout Saginaw, Flint, and Mt. Morris, Michigan being offered as a portfolio package for $1,105,000. Portfolio currently has only 1 vacancy and is producing strong rental income. 13 of the 17 properties are occupied by Section 8 tenants through MSHDA and the Saginaw Housing. Properties included in the portfolio: 3220 Roberts St, Saginaw, MI 3104 Roberts St, Saginaw, MI 905 Pleasant St, Saginaw, MI 1928 Lincoln Ave, Saginaw, MI 1823 Stanley St, Saginaw, MI 1814 Schaefer St, Saginaw, MI 1617 Dillon St, Saginaw, MI 1516 King St, Saginaw, MI 1312 Dillon St, Saginaw, MI 2034 Burr Blvd, Flint, MI 48503 1469 Flamingo Dr, Mt Morris, MI 48458 3732 Providence St, Flint, MI 48503 4621 Warrington Dr, Flint, MI 48504 6199 Stem Ln, Mt Morris, MI 48458 15 Milan Ct, Saginaw, MI 48601 611 S 24th St, Saginaw, MI 48601 6181 Eldon Rd, Mt Morris, MI 48458 Seller prefers to sell the properties as a portfolio package; however, individual property purchases may be considered at different pricing. Additional property details and financial information available upon request. Agent owned.

Key facts

• 6,970 sq ft lot
• Garage
• Built 1965

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level with ground-level entry
• Construction: Brick and shingle siding exterior; Block foundation; Home warranty included
• Exterior features: Paved road access; Lot approximately 0.16 acres (60 x 118.42)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 14.0% 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: 199 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 $449 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 + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 8 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.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.92% ✓
• Cap rate: 14.00%
• Cash-on-cash: 27.53%
• DSCR: 2.23
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $67,268
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
996 Athens Rd	0.50mi	3/1.0	936 (-7%)	2mo	$70,000	$75	64
824 N 26th St	0.72mi	3/1.0	996 (-1%)	8mo	$8,500	$9	59
2511 Needham St	0.27mi	3/1.0	894 (-11%)	13mo	$60,000	$67	58
2954 Fuller St	0.34mi	3/1.0	900 (-10%)	22mo	$23,000	$26	49

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: 21.7%
• Equity multiple: 1.89×
• Total profit: $16,158
• Equity at exit: $9,692

10-year hold

• IRR: 29.8%
• Equity multiple: 3.68×
• Total profit: $48,699
• Equity at exit: $5,620

Cash invested: $18,200 (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 48601

• Home prices YoY: -32.1%
• Active inventory: 199
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,251 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$203 /mo · $2,435/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $418

Break-even live

Break-even rent $723

Max offer price $65,000

Occupancy floor 62%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-19
   days on market $65,000 Active 8 DOM
2. 2026-06-18
   days on market $65,000 Active 7 DOM
3. 2026-06-17
   days on market $65,000 Active 6 DOM
4. 2026-06-16
   days on market $65,000 Active 5 DOM
5. 2026-06-15
   days on market $65,000 Active 4 DOM
6. 2026-06-14
   days on market $65,000 Active 2 DOM
7. 2026-06-12
   remarks 699-char remark
8. 2026-06-12
   listed $65,000 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: $2,435 · $203/mo
• Projected year-2 tax: $2,435 · $203/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 3/10 Moderate FEMA zone X (shaded) · 20% 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: $15,015
• − Mortgage interest: −$3,641
• − Property taxes: −$2,435
• − Insurance: −$325
• − Repairs & maintenance: −$1,201
• − Management: −$1,201
• − Depreciation: −$1,891
• Taxable income: $4,320
• Est. tax owed @ 24.0%: −$1,037
• After-tax cash flow: $3,974/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

+0.0% since first listed

2 events — show timeline

• 2026-06-11 Listed $65,000 REALCOMP
• 2026-06-10 Listed $65,000 MiRealSource-MiMLS

Property tax history

+7.4%/yr

Latest (2025): $2,435 · +100.5% YoY. Source: county tax records.