505 Tulane St · Saginaw, MI 48604

$164,000

3 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 1 Days on market

Built 1955 0.35 ac lot Est $123k · 33% over

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Why this score? — see what drove the F 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 +16.8/30.0
• DSCR +5.2/10.0
• 1% rule +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Terrific on Tulane! This neat and clean home is move-in ready and has been exceptionally well maintained. The updated kitchen comes complete with all appliances, making your transition easy. Inside, you'll find a spacious living room and generously sized bedrooms that provide comfort and flexibility for everyday living. The garage has been converted into a versatile recreation/playroom and provides an abundance of storage space. The attached sun porch is a cozy retreat and benefits from warmth supplied by the garage heater, making it enjoyable through much of the year. Enjoy the newly built front deck, perfect for relaxing outdoors. The large, fully fenced backyard offers plenty of space for entertaining, pets, gardening, or play. Don't miss this well-cared-for home that combines comfort, functionality, and value!

Key facts

• Converted garage
• Updated kitchen
• Attached sun porch

Tags

• UPDATED KITCHEN
• CONVERTED GARAGE
• ATTACHED SUN PORCH
• NEWLY BUILT FRONT DECK
• FULLY FENCED BACKYARD

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Brick construction
• Exterior features: Deck; Porch; Fenced yard; Public maintained road

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fan(s)
• Interior features: High speed internet; Window treatments
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $164k.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (17.7% below list).
• Recommended offer: $135k (17.7% below list) — sets the bar for 1% rule.

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.
• Carrollton Public Schools (suburban): math 9% / reading 26% proficiency, ranked #485 of 540 in MI (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Carrollton Elementary School (math 8% / reading 19%, grade F, #1,200 of 1,397 statewide, top 86%, 688 students, 83% FRL); Carrollton Middle School (math 8% / reading 27%, grade F, #436 of 493 statewide, top 89%, 372 students, 81% FRL); Carrollton High School (math 15% / reading 54%, grade F, #369 of 713 statewide, top 52%, 484 students, 73% FRL).
• Market conditions: 71 active listings in the ZIP; 1 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 $1k of loan paydown is wiped out by about $5k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 25y ago 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 $74k; list at $164k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000 (17.7% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.82% ✗
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $123,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3385 Church St	0.02mi	2/1.0 (-1)	1,234 (-5%)	5mo	$100,000	$81	82
3356 Winter St	0.14mi	4/1.0 (+1)	1,263 (-2%)	6mo	$120,000	$95	79
723 Pioneer Trl	0.27mi	3/1.0	1,194 (-8%)	2mo	$109,000	$91	73
3481 Bauer Dr	0.45mi	3/1.0	1,247 (-4%)	8mo	$147,000	$118	66
3800 Ventura Dr	0.45mi	3/1.0	1,243 (-4%)	8mo	$134,900	$109	66
2981 Harrison St	0.48mi	3/1.0	1,196 (-8%)	6mo	$65,000	$54	59
545 Walnut St	0.72mi	3/1.5	1,346 (+4%)	5mo	$137,000	$102	54
3047 Jackson St	0.45mi	3/1.0	1,124 (-13%)	7mo	$49,900	$44	52
3035 Schaeffer St	0.50mi	4/1.5 (+1)	1,186 (-8%)	6mo	$78,500	$66	50
2241 Moonglow Ct	0.70mi	3/2.0	1,200 (-7%)	2mo	$225,000	$188	50
2161 Plainview	0.66mi	4/1.5 (+1)	1,211 (-7%)	6mo	$158,000	$130	46
2955 Eddy St	0.55mi	3/1.0	1,107 (-15%)	6mo	$75,200	$68	45

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: -12.0%
• Equity multiple: 0.56×
• Total profit: $-20,007
• Equity at exit: $24,453

10-year hold

• IRR: -3.0%
• Equity multiple: 0.80×
• Total profit: $-9,200
• Equity at exit: $14,180

Cash invested: $45,920 (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 48604

• Home prices YoY: -24.6%
• Active inventory: 71
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$860
• Tax from tax record: −$34 /mo · $404/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $104

Break-even live

Break-even rent $1,218

Max offer price $164,000

Occupancy floor 87%

Sensitivity live

Price	-10% $197	-5% $151	+0% $104	+5% $58	+10% $12
Rent	-10% $-2	-5% $51	+0% $104	+5% $158	+10% $211
Rate	-1.0pp $187	-0.5pp $146	base $104	+0.5pp $62	+1.0pp $19

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4070 Green Isle Way Saginaw, MI	1.0–3.0	1.0–1.5	950	$1,350	$1.42	45d	15	1.11mi

Listing history 3 events

1. 2026-06-19
   status $164,000 Pending 1 DOM
2. 2026-06-17
   remarks 699-char remark

   Show marketing remark (825 chars)

   Terrific on Tulane! This neat and clean home is move-in ready and has been exceptionally well maintained. The updated kitchen comes complete with all appliances, making your transition easy. Inside, you'll find a spacious living room and generously sized bedrooms that provide comfort and flexibility for everyday living. The garage has been converted into a versatile recreation/playroom and provides an abundance of storage space. The attached sun porch is a cozy retreat and benefits from warmth supplied by the garage heater, making it enjoyable through much of the year. Enjoy the newly built front deck, perfect for relaxing outdoors. The large, fully fenced backyard offers plenty of space for entertaining, pets, gardening, or play. Don't miss this well-cared-for home that combines comfort, functionality, and value!

3. 2026-06-17
   listed $164,000 Active 1 DOM

   Show marketing remark (825 chars)

   Terrific on Tulane! This neat and clean home is move-in ready and has been exceptionally well maintained. The updated kitchen comes complete with all appliances, making your transition easy. Inside, you'll find a spacious living room and generously sized bedrooms that provide comfort and flexibility for everyday living. The garage has been converted into a versatile recreation/playroom and provides an abundance of storage space. The attached sun porch is a cozy retreat and benefits from warmth supplied by the garage heater, making it enjoyable through much of the year. Enjoy the newly built front deck, perfect for relaxing outdoors. The large, fully fenced backyard offers plenty of space for entertaining, pets, gardening, or play. Don't miss this well-cared-for home that combines comfort, functionality, and value!

ⓘ 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: $404 · $34/mo
• Projected year-2 tax: $1,465 · $122/mo
• Expected delta: +$1,061/yr (+$88/mo · 262.5%)

ⓘ 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 (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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: $16,200
• − Mortgage interest: −$9,187
• − Property taxes: −$404
• − Insurance: −$820
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$4,771
• Taxable loss: −$1,574
• Est. tax savings @ 24.0%: +$378
• After-tax cash flow: $1,631/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: Carrollton Public Schools
• NCES district ID: 2608070
• Math proficiency: 9% ▼ -6.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $39,147
• Composite: 14.74/100
• National rank: #9395
• State rank: #485 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

• City population: 54,884
• Population (ZIP): 11,284

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: Predominantly White (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 8% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 10% Lithuanian 6% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Arabic 1%

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: ▼ -68.55%
• Current HPI: 210.5278
• 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

+82.4% since first listed

29 events — show timeline

• 2026-06-17 Listed $164,000 REALCOMP
• 2026-06-17 Listed $164,000 MiRealSource-MiMLS
• 2017-07-12 Sold (Public Records) $74,000 Public Records
• 2017-06-23 Sold (MLS) $74,000 MiRealSource-MiMLS
• 2017-06-23 Sold (MLS) $74,000 REALCOMP
• 2017-06-01 Pending — MiRealSource-MiMLS
• 2017-05-24 Listed $74,700 MiRealSource-MiMLS
• 2017-05-23 Listed $74,700 REALCOMP
• 2016-03-01 Listing Removed — MiRealSource-MiMLS
• 2016-03-01 Listing Removed — REALCOMP
• 2016-01-07 Listed $89,900 MiRealSource-MiMLS
• 2015-11-09 Listed $89,900 REALCOMP
• 2015-11-05 Listing Removed — MiRealSource-MiMLS
• 2015-11-05 Listing Removed — REALCOMP
• 2015-10-01 Listed $89,900 MiRealSource-MiMLS
• 2015-10-01 Listed $89,900 REALCOMP
• 2006-10-24 Listing Removed — MiRealSource-MiMLS
• 2006-10-24 Listing Removed — REALCOMP
• 2006-07-24 Listed $118,900 MiRealSource-MiMLS
• 2006-07-24 Listed $118,900 REALCOMP
• 2006-04-03 Listing Removed — MiRealSource-MiMLS
• 2006-04-03 Listing Removed — REALCOMP
• 2005-10-03 Listed $118,900 MiRealSource-MiMLS
• 2005-10-03 Listed $118,900 REALCOMP
• 2001-12-18 Sold (Public Records) $86,000 Public Records
• 2001-11-20 Sold (MLS) $86,000 REALCOMP
• 2001-11-20 Sold (MLS) $86,000 MiRealSource-MiMLS
• 2001-05-29 Listed $89,900 REALCOMP
• 2001-05-29 Listed $89,900 MiRealSource-MiMLS

Property tax history

-11.1%/yr

Latest (2025): $404 · -79.9% YoY. Source: county tax records.