1009 N Bond St · Saginaw, MI 48602

$84,900

3 bd · 2.0 ba · 1,527 sqft · SingleFamily public records · 45 Days on market

Built 1892 5,489 sqft lot Est $84k · at est.

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Why this score? — see what drove the C+ 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 +27.4/30.0
• DSCR +9.6/10.0
• 1% rule +8.7/10.0
• ARV discount +7.0/15.0
• 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 investment opportunity with strong ROI potential! This spacious 3-bedroom, 2-bath home offers over 1,500 square feet of living space with a functional layout that appeals to both tenants and owner-occupants alike. Features include generous room sizes, abundant natural light, and a main-floor primary bedroom for added convenience. Located close to schools, shopping, parks, and downtown Saginaw, this property is positioned in an area with consistent rental demand. Whether you're looking to expand your investment portfolio or secure a value-packed property with income potential, this is an opportunity worth seeing!

Key facts

• 5,489 sq ft lot
• Built 1892
• Listed 44 days

Property features AI

Exterior

• Utilities: Public water
• Home design: Traditional-style single-family home; One building with 1,527 square feet living area; Built in 1892
• Construction: Wood siding exterior
• Exterior features: Lot is approximately 0.13 acres; Public water

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $248 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 7.8% in Saginaw — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 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 $587 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.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 27y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $63k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,353 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1892 — 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. 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: 1.37% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.52%
• DSCR: 1.56
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $83,985
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1933 Delaware St	0.55mi	3/1.0	1,539 (+1%)	3mo	$51,000	$33	66
203 N Webster St	0.57mi	3/2.0	1,607 (+5%)	4mo	$115,000	$72	61
1614 Barnard St	0.35mi	4/2.0 (+1)	1,677 (+10%)	4mo	$160,000	$95	59
2403 Stobbe St	0.61mi	4/1.5 (+1)	1,510 (-1%)	6mo	$90,000	$60	58
1923 N Oakley St	0.51mi	3/2.0	1,343 (-12%)	4mo	$20,000	$15	53
1500 N Charles St	0.41mi	2/1.0 (-1)	1,392 (-9%)	5mo	$47,000	$34	53
2206 N Bond St	0.71mi	4/2.0 (+1)	1,575 (+3%)	7mo	$85,000	$54	51
1920 W Genesee St	0.64mi	4/2.0 (+1)	1,391 (-9%)	3mo	$53,500	$38	48
1819 Delaware St	0.45mi	4/1.0 (+1)	1,334 (-13%)	3mo	$93,000	$70	46
2023 Schaefer St	0.75mi	4/1.5 (+1)	1,430 (-6%)	4mo	$126,000	$88	44
1710 State St	0.66mi	4/2.0 (+1)	1,358 (-11%)	6mo	$75,000	$55	41
815 W Genesee Ave	0.62mi	3/1.0	1,305 (-14%)	5mo	$72,000	$55	38

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: 3.5%
• Equity multiple: 1.14×
• Total profit: $3,268
• Equity at exit: $12,659

10-year hold

• IRR: 14.1%
• Equity multiple: 2.19×
• Total profit: $28,327
• Equity at exit: $7,341

Cash invested: $23,772 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,165 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$192 /mo · $2,305/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $248

Break-even live

Break-even rent $851

Max offer price $84,900

Occupancy floor 74%

Sensitivity live

Price	-10% $296	-5% $272	+0% $248	+5% $224	+10% $200
Rent	-10% $156	-5% $202	+0% $248	+5% $294	+10% $340
Rate	-1.0pp $291	-0.5pp $270	base $248	+0.5pp $226	+1.0pp $204

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $84,900 Active 45 DOM
2. 2026-06-18
   days on market $84,900 Active 44 DOM
3. 2026-06-17
   days on market $84,900 Active 43 DOM
4. 2026-06-16
   days on market $84,900 Active 42 DOM
5. 2026-06-15
   days on market $84,900 Active 41 DOM
6. 2026-06-14
   days on market $84,900 Active 39 DOM
7. 2026-06-12
   days on market $84,900 Active 38 DOM
8. 2026-06-09
   days on market $84,900 Active 35 DOM
9. 2026-06-08
   days on market $84,900 Active 34 DOM
10. 2026-06-07
    days on market $84,900 Active 33 DOM
11. 2026-06-05
    days on market $84,900 Active 30 DOM
12. 2026-06-03
    days on market $84,900 Active 29 DOM
13. 2026-06-02
    days on market $84,900 Active 28 DOM
14. 2026-06-01
    days on market $84,900 Active 27 DOM
15. 2026-05-31
    days on market $84,900 Active 26 DOM
16. 2026-05-30
    days on market $84,900 Active 25 DOM
17. 2026-05-06
    listed $89,900 Active

    Show marketing remark (632 chars)

    Great rental investment opportunity with strong ROI potential! This spacious 3-bedroom, 2-bath home offers over 1,500 square feet of living space with a functional layout that appeals to both tenants and owner-occupants alike. Features include generous room sizes, abundant natural light, and a main-floor primary bedroom for added convenience. Located close to schools, shopping, parks, and downtown Saginaw, this property is positioned in an area with consistent rental demand. Whether you're looking to expand your investment portfolio or secure a value-packed property with income potential, this is an opportunity worth seeing!

18. 2026-05-06
    listed $89,900 Active 632-char remark

    Show marketing remark (632 chars)

    Great rental investment opportunity with strong ROI potential! This spacious 3-bedroom, 2-bath home offers over 1,500 square feet of living space with a functional layout that appeals to both tenants and owner-occupants alike. Features include generous room sizes, abundant natural light, and a main-floor primary bedroom for added convenience. Located close to schools, shopping, parks, and downtown Saginaw, this property is positioned in an area with consistent rental demand. Whether you're looking to expand your investment portfolio or secure a value-packed property with income potential, this is an opportunity worth seeing!

19. 2026-05-06
    listed $89,900 Active 632-char remark

    Show marketing remark (632 chars)

    Great rental investment opportunity with strong ROI potential! This spacious 3-bedroom, 2-bath home offers over 1,500 square feet of living space with a functional layout that appeals to both tenants and owner-occupants alike. Features include generous room sizes, abundant natural light, and a main-floor primary bedroom for added convenience. Located close to schools, shopping, parks, and downtown Saginaw, this property is positioned in an area with consistent rental demand. Whether you're looking to expand your investment portfolio or secure a value-packed property with income potential, this is an opportunity worth seeing!

20. 2005-11-18
    soldstatus $62,700
21. 2004-11-12
    historical
22. 2004-11-12
    historical
23. 2004-05-12
    listed $59,900
24. 2004-05-12
    listed $59,900
25. 2004-02-25
    historical
26. 2004-02-23
    soldstatus $25,000
27. 2004-02-23
    soldstatus $25,000
28. 2003-11-07
    listed $27,000
29. 2003-11-07
    listed $27,000
30. 2000-02-09
    soldstatus $50,900
31. 2000-02-04
    soldstatus $50,900
32. 2000-02-04
    soldstatus $50,900
33. 1999-09-23
    listed $47,900
34. 1999-09-23
    listed $47,900

ⓘ 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: $2,305 · $192/mo
• Projected year-2 tax: $2,305 · $192/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 ≥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: $13,985
• − Mortgage interest: −$4,756
• − Property taxes: −$2,305
• − Insurance: −$424
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$2,470
• Taxable income: $1,792
• Est. tax owed @ 24.0%: −$430
• After-tax cash flow: $2,546/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

+87.7% since first listed

18 events — show timeline

• 2026-05-06 Listed $89,900 MiRealSource-MiMLS
• 2026-05-06 Listed $89,900 SW Michigan MLS
• 2026-05-06 Listed $89,900 REALCOMP
• 2005-11-18 Sold (Public Records) $62,700 Public Records
• 2004-11-12 Listing Removed — MiRealSource-MiMLS
• 2004-11-12 Listing Removed — REALCOMP
• 2004-05-12 Listed $59,900 MiRealSource-MiMLS
• 2004-05-12 Listed $59,900 REALCOMP
• 2004-02-25 Listing Removed — MiRealSource-MiMLS
• 2004-02-23 Sold (MLS) $25,000 REALCOMP
• 2004-02-23 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2003-11-07 Listed $27,000 REALCOMP
• 2003-11-07 Listed $27,000 MiRealSource-MiMLS
• 2000-02-09 Sold (Public Records) $50,900 Public Records
• 2000-02-04 Sold (MLS) $50,900 MiRealSource-MiMLS
• 2000-02-04 Sold (MLS) $50,900 REALCOMP
• 1999-09-23 Listed $47,900 MiRealSource-MiMLS
• 1999-09-23 Listed $47,900 REALCOMP

Property tax history

+7.5%/yr

Latest (2025): $2,305 · +50.5% YoY. Source: county tax records.