213 S 12th St · Saginaw, MI 48601

$8,900

3 bd · 1.0 ba · 1,275 sqft · SingleFamily public records · 23 Days on market

Built 1930 6,098 sqft lot

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Why this score? — see what drove the D 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 +7.5/15.0
• 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

Calling all visionaries, flippers, and ambitious homeowners! This 3-bedroom, 1-bath home is ready for its next chapter — and it could be yours. If you’ve been looking for a project with serious upside, this is the one. Step inside and imagine the possibilities! The spacious living room and dedicated dining room offer a great layout to work with, while the full basement provides additional storage or future finishing potential. Outside, you’ll find a 1-car detached garage and yard space ready to be refreshed and reimagined. Yes — this home will need a full remodel. But with the right vision and updates, it has the potential to shine bright again. Whether you’re an investor looking for your next flip, a landlord building your portfolio, or a buyer ready to create your dream home from the ground up, this property is packed with opportunity. Bring your tools, your creativity, and your plans — and turn this diamond in the rough into something truly special. Opportunities like this don’t last long!

Key facts

• Full basement
• Spacious living room
• Detached garage

Tags

• SPACIOUS LIVING ROOM
• DEDICATED DINING ROOM
• FULL BASEMENT
• DETACHED GARAGE
• YARD SPACE

Property features AI

Finance

• Other: Residential zoning
• Financial info: No investor or income/expense details provided
• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story
• Construction: Wood siding construction
• Exterior features: Paved road access; Lot dimensions approximately 49 x 132

Interior

• Kitchen: No kitchen appliance list provided
• Bedrooms: Total of 4 rooms (includes bedrooms and living areas)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Steam heating; No central air conditioning
• Interior features: Gas water heater; Living room fireplace; Basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $9k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $9k).
• Recommended offer: $9k (1.5% below list) — sets the bar for market timing.
• Cap rate 144.2% 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 $62 of loan paydown is wiped out by about $267 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 $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($9k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 9y ago; this cycle's ask has dropped $1k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $8,766 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 15.43% ✓
• Cap rate: 144.24%
• Cash-on-cash: 492.68%
• DSCR: 22.92
• GRM: 0.5

CMA / ARV

• ARV (on-the-fly): $48,450
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
426 S 12th St	0.26mi	4/1.0 (+1)	1,322 (+4%)	21mo	$63,000	$48	59
1621 Carroll Street Rd	0.51mi	2/1.0 (-1)	1,410 (+11%)	1mo	$67,000	$48	53
1300 Walnut St	0.52mi	3/1.0	1,436 (+13%)	8mo	$5,000	$3	48
333 S 23rd St	0.69mi	3/1.0	1,191 (-7%)	14mo	$44,900	$38	45
508 N Roosevelt Austin Ave	0.74mi	4/2.0 (+1)	1,346 (+6%)	10mo	$61,500	$46	39
139 S 19th St	0.45mi	3/1.5	1,436 (+13%)	21mo	$55,000	$38	38
710 S 15th St	0.62mi	3/1.5	1,156 (-9%)	19mo	$33,152	$29	38
826 S 13th St	0.75mi	3/1.0	1,451 (+14%)	12mo	$55,000	$38	32
2229 Bancroft St	0.69mi	3/1.0	1,092 (-14%)	15mo	$15,000	$14	32
814 S 12th St	0.72mi	4/1.0 (+1)	1,106 (-13%)	11mo	$40,000	$36	30

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: 26.58×
• Total profit: $63,742
• Equity at exit: $1,327

10-year hold

• IRR: —
• Equity multiple: 56.98×
• Total profit: $139,498
• Equity at exit: $770

Cash invested: $2,492 (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: 0.5×

Monthly cashflow live

• Estimated rent: $1,373 medium
• Mortgage (P&I): −$47
• Tax est. 1.5%: −$11 /mo · $134/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $1,023

Break-even live

Break-even rent $78

Max offer price $8,900

Occupancy floor 20%

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: $2,225
• Closing costs: $267
• Reserves months: —
• Total cash needed: —

Listing history 47 events

1. 2026-06-19
   days on market $8,900 Active 23 DOM
2. 2026-06-18
   days on market $8,900 Active 22 DOM
3. 2026-06-17
   days on market $8,900 Active 21 DOM
4. 2026-06-16
   days on market $8,900 Active 20 DOM
5. 2026-06-15
   days on market $8,900 Active 19 DOM
6. 2026-06-14
   days on market $8,900 Active 17 DOM
7. 2026-06-12
   days on market $8,900 Active 16 DOM
8. 2026-06-09
   days on market $8,900 Active 13 DOM
9. 2026-06-08
   days on market $8,900 Active 12 DOM
10. 2026-06-07
    days on market $8,900 Active 11 DOM
11. 2026-06-05
    days on market $8,900 Active 8 DOM
12. 2026-06-03
    days on market $8,900 Active 7 DOM
13. 2026-06-02
    days on market $8,900 Active 6 DOM
14. 2026-06-01
    days on market $8,900 Active 5 DOM
15. 2026-05-31
    days on market $8,900 Active 4 DOM
16. 2026-05-30
    days on market $8,900 Active 3 DOM
17. 2026-04-13
    price $8,900 1049-char remark

    Show marketing remark (1049 chars)

    Calling all visionaries, flippers, and ambitious homeowners! This 3-bedroom, 1-bath home is ready for its next chapter — and it could be yours. If you’ve been looking for a project with serious upside, this is the one. Step inside and imagine the possibilities! The spacious living room and dedicated dining room offer a great layout to work with, while the full basement provides additional storage or future finishing potential. Outside, you’ll find a 1-car detached garage and yard space ready to be refreshed and reimagined. Yes — this home will need a full remodel. But with the right vision and updates, it has the potential to shine bright again. Whether you’re an investor looking for your next flip, a landlord building your portfolio, or a buyer ready to create your dream home from the ground up, this property is packed with opportunity. Bring your tools, your creativity, and your plans — and turn this diamond in the rough into something truly special. Opportunities like this don’t last long!

18. 2026-04-13
    price $8,900

    Show marketing remark (1049 chars)

    Calling all visionaries, flippers, and ambitious homeowners! This 3-bedroom, 1-bath home is ready for its next chapter — and it could be yours. If you’ve been looking for a project with serious upside, this is the one. Step inside and imagine the possibilities! The spacious living room and dedicated dining room offer a great layout to work with, while the full basement provides additional storage or future finishing potential. Outside, you’ll find a 1-car detached garage and yard space ready to be refreshed and reimagined. Yes — this home will need a full remodel. But with the right vision and updates, it has the potential to shine bright again. Whether you’re an investor looking for your next flip, a landlord building your portfolio, or a buyer ready to create your dream home from the ground up, this property is packed with opportunity. Bring your tools, your creativity, and your plans — and turn this diamond in the rough into something truly special. Opportunities like this don’t last long!

19. 2026-02-28
    listed $9,900 Active 1049-char remark

    Show marketing remark (1049 chars)

    Calling all visionaries, flippers, and ambitious homeowners! This 3-bedroom, 1-bath home is ready for its next chapter — and it could be yours. If you’ve been looking for a project with serious upside, this is the one. Step inside and imagine the possibilities! The spacious living room and dedicated dining room offer a great layout to work with, while the full basement provides additional storage or future finishing potential. Outside, you’ll find a 1-car detached garage and yard space ready to be refreshed and reimagined. Yes — this home will need a full remodel. But with the right vision and updates, it has the potential to shine bright again. Whether you’re an investor looking for your next flip, a landlord building your portfolio, or a buyer ready to create your dream home from the ground up, this property is packed with opportunity. Bring your tools, your creativity, and your plans — and turn this diamond in the rough into something truly special. Opportunities like this don’t last long!

20. 2026-02-28
    listed $9,900 Active

    Show marketing remark (1049 chars)

    Calling all visionaries, flippers, and ambitious homeowners! This 3-bedroom, 1-bath home is ready for its next chapter — and it could be yours. If you’ve been looking for a project with serious upside, this is the one. Step inside and imagine the possibilities! The spacious living room and dedicated dining room offer a great layout to work with, while the full basement provides additional storage or future finishing potential. Outside, you’ll find a 1-car detached garage and yard space ready to be refreshed and reimagined. Yes — this home will need a full remodel. But with the right vision and updates, it has the potential to shine bright again. Whether you’re an investor looking for your next flip, a landlord building your portfolio, or a buyer ready to create your dream home from the ground up, this property is packed with opportunity. Bring your tools, your creativity, and your plans — and turn this diamond in the rough into something truly special. Opportunities like this don’t last long!

21. 2025-10-11
    historical
22. 2025-08-02
    price $6,000
23. 2025-08-02
    price $6,000
24. 2025-07-21
    status Active
25. 2025-07-21
    status Active
26. 2025-06-25
    status Pending
27. 2025-06-25
    status Pending
28. 2025-06-25
    historical
29. 2025-05-13
    listed $7,000 Active
30. 2025-05-12
    listed $7,000 Active
31. 2019-06-18
    historical
32. 2019-06-18
    historical
33. 2018-12-17
    listed $6,800 Active
34. 2018-12-17
    listed $6,800 Active
35. 2018-12-15
    historical
36. 2018-12-15
    historical
37. 2018-07-14
    listed $6,800
38. 2018-07-14
    listed $6,800 Active
39. 2018-03-18
    historical
40. 2018-03-18
    historical
41. 2017-12-17
    listed $6,800
42. 2017-12-17
    listed $6,800 Active
43. 2017-12-16
    historical
44. 2017-12-16
    historical
45. 2017-11-09
    price $6,800
46. 2017-06-16
    listed $7,500 Active
47. 2017-06-16
    listed $6,800

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $16,475
• − Mortgage interest: −$499
• − Property taxes: −$134
• − Insurance: −$44
• − Repairs & maintenance: −$1,318
• − Management: −$1,318
• − Depreciation: −$259
• Taxable income: $12,904
• Est. tax owed @ 24.0%: −$3,097
• After-tax cash flow: $9,181/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

+30.9% since first listed

31 events — show timeline

• 2026-04-13 Price Changed $8,900 MiRealSource-MiMLS
• 2026-04-13 Price Changed $8,900 REALCOMP
• 2026-02-28 Listed $9,900 REALCOMP
• 2026-02-28 Listed $9,900 MiRealSource-MiMLS
• 2025-10-11 Listing Removed — MiRealSource-MiMLS
• 2025-08-02 Price Changed $6,000 MiRealSource-MiMLS
• 2025-08-02 Price Changed $6,000 REALCOMP
• 2025-07-21 Relisted — REALCOMP
• 2025-07-21 Relisted — MiRealSource-MiMLS
• 2025-06-25 Pending — REALCOMP
• 2025-06-25 Pending — MiRealSource-MiMLS
• 2025-06-25 Listing Removed — REALCOMP
• 2025-05-13 Listed $7,000 REALCOMP
• 2025-05-12 Listed $7,000 MiRealSource-MiMLS
• 2019-06-18 Listing Removed — REALCOMP
• 2019-06-18 Listing Removed — MiRealSource-MiMLS
• 2018-12-17 Listed $6,800 MiRealSource-MiMLS
• 2018-12-17 Listed $6,800 REALCOMP
• 2018-12-15 Listing Removed — MiRealSource-MiMLS
• 2018-12-15 Listing Removed — REALCOMP
• 2018-07-14 Listed $6,800 MiRealSource-MiMLS
• 2018-07-14 Listed $6,800 REALCOMP
• 2018-03-18 Listing Removed — MiRealSource-MiMLS
• 2018-03-18 Listing Removed — REALCOMP
• 2017-12-17 Listed $6,800 MiRealSource-MiMLS
• 2017-12-17 Listed $6,800 REALCOMP
• 2017-12-16 Listing Removed — MiRealSource-MiMLS
• 2017-12-16 Listing Removed — REALCOMP
• 2017-11-09 Price Changed $6,800 MiRealSource-MiMLS
• 2017-06-16 Listed $7,500 MiRealSource-MiMLS
• 2017-06-16 Listed $6,800 REALCOMP

Property tax history

+9.5%/yr

Latest (2025): $972 · +1.3% YoY. Source: county tax records.