1608 S Hamilton St · Saginaw, MI 48602

$62,000

2 bd · 2.0 ba · 1,008 sqft · SingleFamily public records · 200 Days on market

Built 1874 4,356 sqft lot Est $65k · 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
• DSCR +10.0/10.0
• ARV discount +9.3/15.0
• 1% rule +8.9/10.0
• 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

Great rental opportunity in the heart of Saginaw! This single-family home offers an affordable investment with steady rental income already in place. Featuring a functional layout with a spacious living area, updated carpet, and neutral tones throughout, this property is easy to maintain and appealing to tenants. The main level includes a generous living room, dining space, and an efficient kitchen with ample cabinet storage. Upstairs offers additional living space. deep lot with room for outdoor use. Conveniently located near local schools, parks, shopping, and major roadways, this home provides excellent long-term rental potential.

Key facts

• Updated carpet
• Deep lot
• Spacious living area

Tags

• RENTAL OPPORTUNITY
• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREA
• UPDATED CARPET
• AMPLE CABINET STORAGE
• DEEP LOT

Property features AI

Finance

• Other: Property listed as Residential / Single Family Residence
• Financial info: Annual tax amount listed (not included per instructions)
• HOA & community: Homeowners association present

Exterior

• Parking: Data not provided
• Security: Data not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story
• Construction: Vinyl siding
• Exterior features: Lot approximately 0.10 acres; Lot dimensions: 7,405

Interior

• Kitchen: Data not provided
• Bedrooms: Data not provided
• Flooring: Data not provided
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Has basement; Three total rooms
• Laundry & utility: Data not provided

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $62k.

Deal economics

• At list price, monthly cash flow is $261 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($864 rent vs $62k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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: Rents rising (+4.0%/yr); 250 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $429 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 + 4.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $26k; list at $62k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1874 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 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 1874 — 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. 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.
8. 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.
9. 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: 1.39% ✓
• Cap rate: 11.34%
• Cash-on-cash: 18.04%
• DSCR: 1.80
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $64,512
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 Vermont St	0.12mi	2/1.0	1,010 (+0%)	5mo	$78,000	$77	86
1717 S Hamilton St	0.08mi	2/1.0	960 (-5%)	4mo	$42,000	$44	81
1514 Marquette St	0.48mi	2/1.5	986 (-2%)	2mo	$50,000	$51	70
2233 S Niagara St	0.38mi	3/1.0 (+1)	972 (-4%)	1mo	$44,000	$45	66
1013 Maple St	0.51mi	3/1.0 (+1)	1,034 (+3%)	2mo	$66,000	$64	61
1700 Marquette St	0.62mi	2/1.0	963 (-4%)	1mo	$80,000	$83	59
705 Wayne St	0.28mi	3/1.0 (+1)	897 (-11%)	5mo	$45,000	$50	55
1618 Greenwich St	0.66mi	2/1.0	960 (-5%)	4mo	$79,900	$83	54
1753 Kendrick St	0.62mi	3/1.5 (+1)	936 (-7%)	2mo	$60,000	$64	50
1522 Gilbert St	0.60mi	2/1.0	1,112 (+10%)	1mo	$67,000	$60	50
1 Southlawn Ct	0.66mi	3/1.0 (+1)	1,090 (+8%)	4mo	$116,900	$107	43
1521 Chestnut St	0.59mi	3/1.5 (+1)	1,118 (+11%)	6mo	$102,000	$91	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 · 3.98% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.43×
• Total profit: $7,443
• Equity at exit: $9,244

10-year hold

• IRR: 20.6%
• Equity multiple: 2.82×
• Total profit: $31,518
• Equity at exit: $5,361

Cash invested: $17,360 (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: 6.0×

Monthly cashflow live

• Estimated rent: $864 medium
• Mortgage (P&I): −$325
• Tax from tax record: −$70 /mo · $846/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$181
• Net cashflow: $261

Break-even live

Break-even rent $533

Max offer price $62,000

Occupancy floor 65%

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1827 Gilbert St Saginaw, MI	3.0	2.0	1008	$695	$0.69	43d	1	0.90mi
2021 Grout St Saginaw, MI	1.0–2.0	1.0	862	$995	$1.15	43d	1	0.96mi
113 Parkside Ct Saginaw, MI	1.0–3.0	1.0–1.5	808	$800	$0.99	43d	1	1.50mi

Listing history 25 events

1. 2026-06-19
   days on market $62,000 Active 200 DOM
2. 2026-06-18
   days on market $62,000 Active 199 DOM
3. 2026-06-17
   days on market $62,000 Active 198 DOM
4. 2026-06-16
   days on market $62,000 Active 197 DOM
5. 2026-06-15
   days on market $62,000 Active 196 DOM
6. 2026-06-14
   days on market $62,000 Active 194 DOM
7. 2026-06-12
   days on market $62,000 Active 193 DOM
8. 2026-06-09
   days on market $62,000 Active 190 DOM
9. 2026-06-08
   days on market $62,000 Active 189 DOM
10. 2026-06-07
    days on market $62,000 Active 188 DOM
11. 2026-06-05
    days on market $62,000 Active 185 DOM
12. 2026-06-03
    days on market $62,000 Active 184 DOM
13. 2026-06-02
    days on market $62,000 Active 183 DOM
14. 2026-06-01
    days on market $62,000 Active 182 DOM
15. 2026-05-31
    days on market $62,000 Active 181 DOM
16. 2026-05-30
    days on market $62,000 Active 180 DOM
17. 2026-01-27
    price $62,000 641-char remark

    Show marketing remark (641 chars)

    Great rental opportunity in the heart of Saginaw! This single-family home offers an affordable investment with steady rental income already in place. Featuring a functional layout with a spacious living area, updated carpet, and neutral tones throughout, this property is easy to maintain and appealing to tenants. The main level includes a generous living room, dining space, and an efficient kitchen with ample cabinet storage. Upstairs offers additional living space. deep lot with room for outdoor use. Conveniently located near local schools, parks, shopping, and major roadways, this home provides excellent long-term rental potential.

18. 2026-01-26
    price $62,000
19. 2025-12-01
    listed $67,000 Active

    Show marketing remark (641 chars)

    Great rental opportunity in the heart of Saginaw! This single-family home offers an affordable investment with steady rental income already in place. Featuring a functional layout with a spacious living area, updated carpet, and neutral tones throughout, this property is easy to maintain and appealing to tenants. The main level includes a generous living room, dining space, and an efficient kitchen with ample cabinet storage. Upstairs offers additional living space. deep lot with room for outdoor use. Conveniently located near local schools, parks, shopping, and major roadways, this home provides excellent long-term rental potential.

20. 2025-12-01
    listed $67,000 Active 641-char remark

    Show marketing remark (641 chars)

    Great rental opportunity in the heart of Saginaw! This single-family home offers an affordable investment with steady rental income already in place. Featuring a functional layout with a spacious living area, updated carpet, and neutral tones throughout, this property is easy to maintain and appealing to tenants. The main level includes a generous living room, dining space, and an efficient kitchen with ample cabinet storage. Upstairs offers additional living space. deep lot with room for outdoor use. Conveniently located near local schools, parks, shopping, and major roadways, this home provides excellent long-term rental potential.

21. 2000-03-10
    soldstatus $26,000 161-char remark

    Show marketing remark (161 chars)

    Make your dream of home ownership a reality! If you qualify this afforable 2-3 bedroom home, 2 bath, fenced yard, 1st floor laundry can be yours. Priced to sell!

22. 2000-03-10
    soldstatus $26,000

    Show marketing remark (161 chars)

    Make your dream of home ownership a reality! If you qualify this afforable 2-3 bedroom home, 2 bath, fenced yard, 1st floor laundry can be yours. Priced to sell!

23. 2000-03-03
    historical
24. 1999-07-13
    listed $27,000 161-char remark

    Show marketing remark (161 chars)

    Make your dream of home ownership a reality! If you qualify this afforable 2-3 bedroom home, 2 bath, fenced yard, 1st floor laundry can be yours. Priced to sell!

25. 1999-07-13
    listed $27,000

    Show marketing remark (161 chars)

    Make your dream of home ownership a reality! If you qualify this afforable 2-3 bedroom home, 2 bath, fenced yard, 1st floor laundry can be yours. Priced to sell!

ⓘ 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: $846 · $70/mo
• Projected year-2 tax: $900 · $75/mo
• Expected delta: +$54/yr (+$5/mo · 6.4%)

ⓘ 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: $10,366
• − Mortgage interest: −$3,473
• − Property taxes: −$846
• − Insurance: −$310
• − Repairs & maintenance: −$829
• − Management: −$829
• − Depreciation: −$1,804
• Taxable income: $2,275
• Est. tax owed @ 24.0%: −$546
• After-tax cash flow: $2,586/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

+129.6% since first listed

9 events — show timeline

• 2026-01-27 Price Changed $62,000 MiRealSource-MiMLS
• 2026-01-26 Price Changed $62,000 REALCOMP
• 2025-12-01 Listed $67,000 REALCOMP
• 2025-12-01 Listed $67,000 MiRealSource-MiMLS
• 2000-03-10 Sold (MLS) $26,000 MiRealSource-MiMLS
• 2000-03-10 Sold (MLS) $26,000 REALCOMP
• 2000-03-03 Listing Removed — MiRealSource-MiMLS
• 1999-07-13 Listed $27,000 MiRealSource-MiMLS
• 1999-07-13 Listed $27,000 REALCOMP

Property tax history

+2.3%/yr

Latest (2025): $846 · -15.6% YoY. Source: county tax records.