2007 W Genesee Ave · Saginaw, MI 48602

$64,900

2 bd · 1.5 ba · 776 sqft · SingleFamily public records · 59 Days on market

Built 1926 4,356 sqft lot Est $70k · 7% under

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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
• ARV discount +10.7/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• 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

Key mechanical updates include a furnace installed in 2016 and a water heater replaced in 2021, giving added peace of mind. The roof is approximately 15 years old.

Key facts

• Furnace installed
• 4,356 sq ft lot
• Garage

Tags

• FURNACE INSTALLED
• WATER HEATER REPLACED

Property features AI

Finance

• Other: Located near N Clinton and W Genesee
• Financial info: Annual property tax approximately $1,400.39
• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Vinyl siding
• Exterior features: Lot dimensions approximately 39 x 120; Lot size about 0.1 acre; No pool

Interior

• Bedrooms: Total of 3 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central air
• Interior features: Finished above-grade living area of 776 square feet; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $247 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($898 rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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; 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 $449 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 $18k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y ago; this cycle's ask has dropped $4k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $65k implies a 765% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.38% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.30%
• DSCR: 1.73
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $69,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1815 W Genesee	0.11mi	2/1.0	818 (+5%)	1mo	$74,000	$90	83
2105 Mershon St	0.17mi	2/1.0	822 (+6%)	5mo	$120,000	$146	76
2200 State St	0.16mi	3/1.0 (+1)	756 (-3%)	10mo	$57,500	$76	73
1906 N Charles St	0.06mi	3/1.0 (+1)	684 (-12%)	10mo	$65,000	$95	62
1629 Mershon St	0.29mi	2/1.0	672 (-13%)	3mo	$57,000	$85	60
2312 Durand St	0.45mi	2/1.0	849 (+9%)	4mo	$24,750	$29	58
2529 N BOND St	0.69mi	2/1.0	763 (-2%)	6mo	$65,000	$85	58
920 Cronk Ave	0.66mi	2/1.0	714 (-8%)	4mo	$54,500	$76	50
2292 Bay St	0.55mi	2/1.0	866 (+12%)	7mo	$36,000	$42	47
2600 Deindorfer St	0.61mi	2/1.0	702 (-10%)	8mo	$72,000	$103	47
2524 N Carolina St	0.56mi	3/1.0 (+1)	845 (+9%)	7mo	$78,000	$92	47
2512 Blake St	0.55mi	2/1.0	663 (-15%)	9mo	$74,000	$112	40

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: 8.5%
• Equity multiple: 1.34×
• Total profit: $6,120
• Equity at exit: $9,677

10-year hold

• IRR: 18.6%
• Equity multiple: 2.62×
• Total profit: $29,405
• Equity at exit: $5,611

Cash invested: $18,172 (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: 6.0×

Monthly cashflow live

• Estimated rent: $898 medium
• Mortgage (P&I): −$340
• Tax from tax record: −$95 /mo · $1,142/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$189
• Net cashflow: $247

Break-even live

Break-even rent $586

Max offer price $64,900

Occupancy floor 68%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-19
   days on market $64,900 Active 59 DOM
2. 2026-06-18
   days on market $64,900 Active 58 DOM
3. 2026-06-17
   days on market $64,900 Active 57 DOM
4. 2026-06-16
   days on market $64,900 Active 56 DOM
5. 2026-06-15
   days on market $64,900 Active 55 DOM
6. 2026-06-14
   days on market $64,900 Active 53 DOM
7. 2026-06-12
   days on market $64,900 Active 52 DOM
8. 2026-06-09
   days on market $64,900 Active 49 DOM
9. 2026-06-08
   days on market $64,900 Active 48 DOM
10. 2026-06-07
    days on market $64,900 Active 47 DOM
11. 2026-06-05
    days on market $64,900 Active 44 DOM
12. 2026-06-03
    days on market $64,900 Active 43 DOM
13. 2026-06-02
    days on market $64,900 Active 42 DOM
14. 2026-06-01
    days on market $64,900 Active 41 DOM
15. 2026-05-31
    days on market $64,900 Active 40 DOM
16. 2026-05-30
    days on market $64,900 Active 39 DOM
17. 2026-04-21
    listed $69,000 Active

    Show marketing remark (163 chars)

    Key mechanical updates include a furnace installed in 2016 and a water heater replaced in 2021, giving added peace of mind. The roof is approximately 15 years old.

18. 2026-04-21
    listed $69,000 Active 163-char remark

    Show marketing remark (163 chars)

    Key mechanical updates include a furnace installed in 2016 and a water heater replaced in 2021, giving added peace of mind. The roof is approximately 15 years old.

19. 2009-03-18
    soldstatus $7,500 377-char remark

    Show marketing remark (377 chars)

    HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks * . FHA Case #262-126484. Uninsured. Bids due by 01-04-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof.

20. 2009-03-18
    soldstatus $7,500

    Show marketing remark (377 chars)

    HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks * . FHA Case #262-126484. Uninsured. Bids due by 01-04-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof.

21. 2009-01-15
    historical
22. 2008-12-26
    listed $10,000 377-char remark

    Show marketing remark (377 chars)

    HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks * . FHA Case #262-126484. Uninsured. Bids due by 01-04-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof.

23. 2008-12-26
    listed $10,000

    Show marketing remark (377 chars)

    HUD home. Sold 'AS IS' by Elec Bid only. For Prop. conditions, Forms, Discl, Avail & Owner Occupant Incentives see Website in Agent Remarks * . FHA Case #262-126484. Uninsured. Bids due by 01-04-09 11:59 PM or daily until sold. MCB makes no warranty as to current or future existence of mold in this property and is not liable for the potentially harmful effects thereof.

24. 2006-08-14
    historical
25. 2006-08-14
    historical
26. 2006-04-14
    listed $39,900
27. 2006-04-14
    listed $39,900
28. 1999-10-07
    soldstatus $36,500
29. 1999-10-07
    soldstatus $36,500
30. 1999-08-11
    listed $39,500
31. 1999-08-11
    listed $39,500

ⓘ 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: $1,142 · $95/mo
• Projected year-2 tax: $1,142 · $95/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 3/10 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: $10,776
• − Mortgage interest: −$3,635
• − Property taxes: −$1,142
• − Insurance: −$324
• − Repairs & maintenance: −$862
• − Management: −$862
• − Depreciation: −$1,888
• Taxable income: $2,061
• Est. tax owed @ 24.0%: −$495
• After-tax cash flow: $2,467/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

+74.7% since first listed

15 events — show timeline

• 2026-04-21 Listed $69,000 MiRealSource-MiMLS
• 2026-04-21 Listed $69,000 REALCOMP
• 2009-03-18 Sold (MLS) $7,500 MiRealSource-MiMLS
• 2009-03-18 Sold (MLS) $7,500 REALCOMP
• 2009-01-15 Listing Removed — MiRealSource-MiMLS
• 2008-12-26 Listed $10,000 MiRealSource-MiMLS
• 2008-12-26 Listed $10,000 REALCOMP
• 2006-08-14 Listing Removed — REALCOMP
• 2006-08-14 Listing Removed — MiRealSource-MiMLS
• 2006-04-14 Listed $39,900 REALCOMP
• 2006-04-14 Listed $39,900 MiRealSource-MiMLS
• 1999-10-07 Sold (MLS) $36,500 MiRealSource-MiMLS
• 1999-10-07 Sold (MLS) $36,500 REALCOMP
• 1999-08-11 Listed $39,500 MiRealSource-MiMLS
• 1999-08-11 Listed $39,500 REALCOMP

Property tax history

-0.8%/yr

Latest (2025): $1,142 · -16.3% YoY. Source: county tax records.