116 N 24th St · Buena Vista, MI 48601

$19,900

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 203 Days on market

Built 1930 9,583 sqft lot Est $36k · 45% under

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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 +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Land contract available. Great investment opportunity! House is stripped to the studs and looks to have new electrical.

Key facts

• New electrical
• 9,583 sq ft lot
• Built 1930

Tags

• INVESTMENT OPPORTUNITY
• STRIPPED TO THE STUDS
• NEW ELECTRICAL

Property features AI

Finance

• Financial info: Land contract available (terms listed): 30 months, $5,000 down, 6% interest, approx. $503/month

Exterior

• Utilities: Public water at the street; Public sewer at the street; No heating fuel listed
• Home design: Residential property; One-story structure; Built in 1930
• Construction: Vinyl-sided construction; Piers foundation
• Exterior features: Vinyl siding; Road frontage

Interior

• Kitchen: Kitchen on the first floor; Kitchen dimensions approximately 10 x 10; Wood flooring in kitchen
• Bedrooms: Three bedrooms on the first floor; Bedroom dimensions approximately 10 x 10 (third bedroom listed as W=10); Wood flooring in all bedrooms
• Flooring: Wood flooring throughout main living areas (living room, dining room, kitchen, bedrooms, bathroom)
• Bathrooms: One full bathroom on the first floor; Bathroom dimensions approximately 10 x 10; Wood flooring in bathroom
• Heating & cooling: No heating system listed; No heat/fuel type listed
• Interior features: Total of 6 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $774 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (12.0% below list) — sets the bar for market timing.
• Cap rate 53.0% vs local median 11.7% in Buena Vista — 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 59/100 on livability (#615 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, schools F, crime 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 $138 of loan paydown is wiped out by about $597 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 203 days — a 12% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $14k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $17,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 203 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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. 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?
9. 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.
10. 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.
11. 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: 5.94% ✓
• Cap rate: 52.96%
• Cash-on-cash: 166.67%
• DSCR: 8.42
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $35,964
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2422 Snelling Pl	0.46mi	3/1.0	988 (+2%)	1mo	$97,084	$98	75
2621 Wadsworth Ave	0.38mi	2/1.0 (-1)	958 (-1%)	3mo	$10,000	$10	73
347 S 19th St	0.46mi	3/1.0	950 (-2%)	5mo	$27,500	$29	71
3366 Janes Ave	0.47mi	3/1.0	1,024 (+5%)	3mo	$9,500	$9	67
427 S 24th St	0.39mi	3/1.5	1,040 (+7%)	4mo	$79,900	$77	65
420 S 31st St	0.55mi	3/1.0	988 (+2%)	11mo	$42,000	$43	62
824 N 26th St	0.58mi	3/1.0	996 (+2%)	8mo	$8,500	$9	62
315 S 19th St	0.42mi	2/1.0 (-1)	912 (-6%)	5mo	$34,000	$37	62
415 S 27th St	0.40mi	2/1.0 (-1)	864 (-11%)	11mo	$33,000	$38	48
523 S 29th St	0.58mi	3/1.0	864 (-11%)	10mo	$75,000	$87	46
427 S 19th St	0.52mi	2/1.0 (-1)	874 (-10%)	11mo	$19,000	$22	45
455 S 24th St	0.45mi	2/1.0 (-1)	840 (-14%)	9mo	$30,000	$36	43

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: 9.27×
• Total profit: $46,099
• Equity at exit: $2,967

10-year hold

• IRR: —
• Equity multiple: 19.62×
• Total profit: $103,742
• Equity at exit: $1,721

Cash invested: $5,572 (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: 1.4×

Monthly cashflow live

• Estimated rent: $1,183 medium
• Mortgage (P&I): −$104
• Tax from tax record: −$48 /mo · $572/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $774

Break-even live

Break-even rent $203

Max offer price $19,900

Occupancy floor 30%

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: $4,975
• Closing costs: $597
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-19
   days on market $19,900 Active 203 DOM
2. 2026-06-18
   days on market $19,900 Active 202 DOM
3. 2026-06-17
   days on market $19,900 Active 201 DOM
4. 2026-06-16
   days on market $19,900 Active 200 DOM
5. 2026-06-15
   days on market $19,900 Active 199 DOM
6. 2026-06-14
   days on market $19,900 Active 197 DOM
7. 2026-06-12
   days on market $19,900 Active 196 DOM
8. 2026-06-09
   days on market $19,900 Active 193 DOM
9. 2026-06-08
   days on market $19,900 Active 192 DOM
10. 2026-06-07
    days on market $19,900 Active 191 DOM
11. 2026-06-05
    days on market $19,900 Active 188 DOM
12. 2026-06-03
    days on market $19,900 Active 187 DOM
13. 2026-06-02
    days on market $19,900 Active 186 DOM
14. 2026-06-01
    days on market $19,900 Active 185 DOM
15. 2026-05-31
    days on market $19,900 Active 184 DOM
16. 2026-05-30
    days on market $19,900 Active 183 DOM
17. 2026-04-15
    price $19,900
18. 2025-11-28
    listed $19,000 Active
19. 2017-11-20
    historical
20. 2017-11-20
    historical
21. 2017-09-26
    listed $13,900 Active
22. 2017-09-26
    listed $13,900
23. 2017-08-11
    historical
24. 2017-08-11
    historical
25. 2017-07-18
    listed $15,000 Active
26. 2017-07-18
    listed $15,000
27. 2017-07-14
    historical
28. 2017-07-14
    historical
29. 2017-02-20
    listed $15,000 Active
30. 2017-02-13
    listed $15,000
31. 2001-07-26
    soldstatus $13,500

ⓘ 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: $572 · $48/mo
• Projected year-2 tax: $572 · $48/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $14,190
• − Mortgage interest: −$1,115
• − Property taxes: −$572
• − Insurance: −$100
• − Repairs & maintenance: −$1,135
• − Management: −$1,135
• − Depreciation: −$579
• Taxable income: $9,555
• Est. tax owed @ 24.0%: −$2,293
• After-tax cash flow: $6,994/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 — Buena Vista

• Score: 59/100
• State rank: #615
• US rank: #20603

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing B+ Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buena Vista, MI
• City population: 32,069
• 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

+47.4% since first listed

15 events — show timeline

• 2026-04-15 Price Changed $19,900 MiRealSource-MiMLS
• 2025-11-28 Listed $19,000 MiRealSource-MiMLS
• 2017-11-20 Listing Removed — MiRealSource-MiMLS
• 2017-11-20 Listing Removed — REALCOMP
• 2017-09-26 Listed $13,900 MiRealSource-MiMLS
• 2017-09-26 Listed $13,900 REALCOMP
• 2017-08-11 Listing Removed — MiRealSource-MiMLS
• 2017-08-11 Listing Removed — REALCOMP
• 2017-07-18 Listed $15,000 MiRealSource-MiMLS
• 2017-07-18 Listed $15,000 REALCOMP
• 2017-07-14 Listing Removed — MiRealSource-MiMLS
• 2017-07-14 Listing Removed — REALCOMP
• 2017-02-20 Listed $15,000 MiRealSource-MiMLS
• 2017-02-13 Listed $15,000 REALCOMP
• 2001-07-26 Sold (Public Records) $13,500 Public Records

Property tax history

-1.0%/yr

Latest (2025): $572 · -43.4% YoY. Source: county tax records.