1306 S Wheeler St · Saginaw, MI 48602

$89,900

2 bd · 1.0 ba · 836 sqft · SingleFamily public records · 95 Days on market

Built 1894 0.25 ac 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 +16.2/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice 2 Bedroom home, Completely updated, new stainless appliances, flooring and paint, large fenced yard, storage barn. Seller financing available with acceptable terms.

Key facts

• Fenced yard
• Stainless appliances
• Storage barn

Tags

• STAINLESS APPLIANCES
• FENCED YARD
• STORAGE BARN

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: No garage; Carport
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry; Vinyl siding
• Construction: Pillar/post/pier foundation
• Exterior features: Permeable paving; Level lot; Paved road

Interior

• Kitchen: Free-standing electric oven; Free-standing refrigerator; Stainless steel appliances
• Bedrooms: Total rooms: 5
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; No central air (ceiling fans provide cooling)
• Interior features: Smart thermostat; Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $48 ($576/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($899 rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.

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: crime F, amenities F, commute 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.
• Zoned schools: Thompson Middle School (math 6% / reading 13%, grade F, #479 of 493 statewide, top 97%, 397 students, 93% FRL) — zoned schools average 93% FRL vs 76% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 24% district-wide (-15 pts) — the specific schools serving this property underperform the Saginaw School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+4.0%/yr); 250 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $622 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 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.
• Current owner paid $38k; list at $90k implies a 137% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,809 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1894 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 1.00% ✓
• Cap rate: 6.93%
• Cash-on-cash: 2.29%
• DSCR: 1.10
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $44,308
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1306 S Wheeler St	0.00mi	2/1.0	836 (0%)	5mo	$38,000	$45	96
1905 Stanley St	0.31mi	2/1.0	816 (-2%)	2mo	$54,500	$67	80
1920 Vermont St	0.41mi	2/1.0	840 (+0%)	5mo	$20,000	$24	76
1719 Marquette St	0.48mi	2/1.5	830 (-1%)	5mo	$50,000	$60	70
4135 Green St	0.39mi	2/1.0	900 (+8%)	3mo	$32,500	$36	66
1753 Kendrick St	0.20mi	3/1.5 (+1)	936 (+12%)	2mo	$60,000	$64	62
2112 Emerick St	0.23mi	2/1.0	714 (-15%)	7mo	$38,000	$53	60
2236 King St	0.64mi	2/1.0	806 (-4%)	7mo	$27,000	$33	59
228 Larch St	0.68mi	2/1.0	782 (-6%)	4mo	$71,000	$91	54
2206 Jerome St	0.47mi	2/1.0	937 (+12%)	6mo	$23,000	$25	53
1618 Greenwich St	0.64mi	2/1.0	960 (+15%)	4mo	$79,900	$83	42
1717 S Hamilton St	0.74mi	2/1.0	960 (+15%)	4mo	$42,000	$44	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 · 3.98% rent growth · sell at horizon

5-year hold

• IRR: -11.5%
• Equity multiple: 0.58×
• Total profit: $-10,579
• Equity at exit: $13,404

10-year hold

• IRR: -0.8%
• Equity multiple: 0.95×
• Total profit: $-1,372
• Equity at exit: $7,773

Cash invested: $25,172 (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 48602

• Home prices YoY: -19.7%
• Rents YoY: 4.0%
• Active inventory: 250
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $899 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$154 /mo · $1,842/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $48

Break-even live

Break-even rent $839

Max offer price $89,900

Occupancy floor 90%

Sensitivity live

Price	-10% $99	-5% $73	+0% $48	+5% $23	+10% $-3
Rent	-10% $-23	-5% $12	+0% $48	+5% $83	+10% $119
Rate	-1.0pp $93	-0.5pp $71	base $48	+0.5pp $25	+1.0pp $1

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1827 Gilbert St Saginaw, MI	3.0	2.0	1008	$695	$0.69	45d	1	0.38mi
2021 Grout St Saginaw, MI	1.0–2.0	1.0	862	$995	$1.15	45d	1	0.48mi

Listing history 23 events

1. 2026-06-03
   days on market $89,900 Active 95 DOM
2. 2026-06-02
   days on market $89,900 Active 94 DOM
3. 2026-06-01
   days on market $89,900 Active 93 DOM
4. 2026-05-31
   days on market $89,900 Active 92 DOM
5. 2026-05-30
   days on market $89,900 Active 91 DOM
6. 2026-02-28
   listed $89,900 Active 174-char remark

   Show marketing remark (174 chars)

   Very nice 2 Bedroom home, Completely updated, new stainless appliances, flooring and paint, large fenced yard, storage barn. Seller financing available with acceptable terms.

7. 2026-02-28
   listed $89,900 Active

   Show marketing remark (174 chars)

   Very nice 2 Bedroom home, Completely updated, new stainless appliances, flooring and paint, large fenced yard, storage barn. Seller financing available with acceptable terms.

8. 2026-01-23
   soldstatus $38,000 Closed 696-char remark

   Show marketing remark (696 chars)

   Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

9. 2026-01-23
   soldstatus $38,000 Closed

   Show marketing remark (696 chars)

   Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

10. 2026-01-13
    status Pending 696-char remark

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

11. 2026-01-13
    status Pending

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

12. 2026-01-10
    price $42,000
13. 2026-01-09
    price $42,000 696-char remark

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

14. 2025-10-28
    price $44,000
15. 2025-10-27
    price $44,000 696-char remark

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

16. 2025-09-29
    price $50,000

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

17. 2025-09-29
    price $50,000 696-char remark

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

18. 2025-08-14
    price $59,900

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

19. 2025-08-14
    price $59,900 696-char remark

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

20. 2025-08-05
    price $65,000
21. 2025-08-04
    price $65,000 696-char remark

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

22. 2025-07-13
    listed $69,000 Active

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

23. 2025-07-13
    listed $69,000 Active 696-char remark

    Show marketing remark (696 chars)

    Welcome to this adorable home on Wheeler! Here we have a palette that is waiting for your touches. This 2 bedroom home with living and dining room both has space for making your own vision. The possibilities are endless and the price is right. The fenced yard hosts a backyard that is just waiting for you to make it an oasis. There is a quaint front porch that is covered to allow for sitting out on those early fall mornings to come with coffee or watching the sun set as we enjoy the rest of summer. First floor laundry off the open kitchen makes for convenience and ample room to store your gadgets and dishes. Come take a look and let the design planning begin. Wheeler is waiting for you!

ⓘ 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: $1,842 · $154/mo
• Projected year-2 tax: $1,842 · $154/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 ≥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: $10,791
• − Mortgage interest: −$5,036
• − Property taxes: −$1,842
• − Insurance: −$450
• − Repairs & maintenance: −$863
• − Management: −$863
• − Depreciation: −$2,615
• Taxable loss: −$879
• Est. tax savings @ 24.0%: +$211
• After-tax cash flow: $786/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
• County: Saginaw County · 54,884 people
• City population: 54,884
• Metro: Saginaw, MI
• Population (ZIP): 27,127
• Household income: $46,984
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1416.0

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 0.64)
• Race & ethnicity: White 50% Black 27% Hispanic / Latino 17% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -39.15%
• Current HPI: 159.8807
• Rent YoY: ▲ 3.98%
• Metro: Saginaw, MI
• 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

+30.3% since first listed

18 events — show timeline

• 2026-02-28 Listed $89,900 REALCOMP
• 2026-02-28 Listed $89,900 MiRealSource-MiMLS
• 2026-01-23 Sold (MLS) $38,000 MiRealSource-MiMLS
• 2026-01-23 Sold (MLS) $38,000 REALCOMP
• 2026-01-13 Pending — REALCOMP
• 2026-01-13 Pending — MiRealSource-MiMLS
• 2026-01-10 Price Changed $42,000 MiRealSource-MiMLS
• 2026-01-09 Price Changed $42,000 REALCOMP
• 2025-10-28 Price Changed $44,000 MiRealSource-MiMLS
• 2025-10-27 Price Changed $44,000 REALCOMP
• 2025-09-29 Price Changed $50,000 MiRealSource-MiMLS
• 2025-09-29 Price Changed $50,000 REALCOMP
• 2025-08-14 Price Changed $59,900 MiRealSource-MiMLS
• 2025-08-14 Price Changed $59,900 REALCOMP
• 2025-08-05 Price Changed $65,000 MiRealSource-MiMLS
• 2025-08-04 Price Changed $65,000 REALCOMP
• 2025-07-13 Listed $69,000 MiRealSource-MiMLS
• 2025-07-13 Listed $69,000 REALCOMP

Property tax history

+15.3%/yr

Latest (2025): $1,842 · +30.6% YoY. Source: county tax records.