721 Lyon St · Saginaw, MI 48602

$109,900

3 bd · 2.0 ba · 1,802 sqft · SingleFamily public records · 13 Days on market

Built 1890 5,227 sqft lot

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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 +20.6/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.7/10.0
• 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

INVESTOR SPECIAL!!!! This duplex offers endless potential! Featuring two units, each with its own entrance and layout, the property is a blank canvas waiting for your vision. Ideal for investors or homeowners looking to customize their space. The property will need some updates and repairs. It's being sold AS IS, allowing the buyer to renovate to their taste and needs. No additional work will be provided by the seller. Don't miss out! Whether you're looking to flip, rent, or create a dream home, this duplex offers incredible value and opportunity. BATVAI

Key facts

• 5,227 sq ft lot
• Garage
• Built 1890

Property features AI

Finance

• Financial info: Two-unit building; Unit 1 currently occupied; rent listed as $875; Unit 2 currently occupied; rent listed as $1,150

Exterior

• Parking: Detached garage with 1 parking space
• Utilities: Public water; Natural gas; Public sanitary sewer; Cable available
• Home design: Multi-family property; Two-story structure; Built in 1890
• Construction: Block-type basement foundation
• Exterior features: Aluminum exterior construction; Public sanitary sewer; Cable available

Interior

• Kitchen: Range/Oven; Refrigerator
• Bedrooms: Unit 1 bedroom(s) on the main level; Unit 2 bedroom(s) on the second level
• Bathrooms: 2 full bathrooms (total)
• Heating & cooling: Forced air heating; No central cooling; Natural gas fuel; Separate heating for units; Separate electric and separate gas for units
• Interior features: Basement present
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).

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 $760 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 13 sale attempts since 27y ago; this cycle's ask is 69% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $58k; list at $110k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1890 — 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. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 7.89%
• Cash-on-cash: 5.72%
• DSCR: 1.25
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $72,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
616 S Oakley St	0.23mi	3/1.0	1,836 (+2%)	7mo	$36,000	$20	77
709 S Granger St	0.11mi	3/1.5	1,633 (-9%)	8mo	$32,500	$20	71
1118 Cass St	0.30mi	3/1.5	1,617 (-10%)	7mo	$46,500	$29	61
203 N Webster St	0.42mi	3/2.0	1,607 (-11%)	4mo	$115,000	$72	59
516 N Granger St	0.63mi	4/2.0 (+1)	1,862 (+3%)	7mo	$150,000	$81	54
1907 Adams Blvd	0.70mi	3/2.0	1,654 (-8%)	3mo	$130,000	$79	52
1403 Cypress St	0.53mi	4/2.0 (+1)	1,603 (-11%)	2mo	$63,000	$39	50
412 N Oakley St	0.61mi	4/1.0 (+1)	1,905 (+6%)	6mo	$36,000	$19	48
521 N Granger St	0.65mi	4/1.0 (+1)	1,736 (-4%)	9mo	$112,900	$65	47
1209 S Fayette St	0.37mi	4/1.0 (+1)	2,058 (+14%)	9mo	$35,000	$17	42
513 N Oakley St	0.68mi	4/1.5 (+1)	1,644 (-9%)	8mo	$65,000	$40	40
1536 Greenwich St	0.71mi	4/1.5 (+1)	1,536 (-15%)	10mo	$100,000	$65	27

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: -6.3%
• Equity multiple: 0.76×
• Total profit: $-7,276
• Equity at exit: $16,386

10-year hold

• IRR: 4.5%
• Equity multiple: 1.35×
• Total profit: $10,688
• Equity at exit: $9,502

Cash invested: $30,772 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,171 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$156 /mo · $1,877/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $147

Break-even live

Break-even rent $986

Max offer price $109,900

Occupancy floor 82%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-19
   days on market $109,900 Active 13 DOM
2. 2026-06-18
   days on market $109,900 Active 12 DOM
3. 2026-06-17
   days on market $109,900 Active 11 DOM
4. 2026-06-16
   days on market $109,900 Active 10 DOM
5. 2026-06-15
   days on market $109,900 Active 9 DOM
6. 2026-06-14
   days on market $109,900 Active 7 DOM
7. 2026-06-12
   days on market $109,900 Active 6 DOM
8. 2026-06-09
   days on market $109,900 Active 3 DOM
9. 2026-06-08
   days on market $109,900 Active 2 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    statuslisting id $109,900 Active 1 DOM
12. 2026-06-05
    remarks 693-char remark
13. 2026-06-05
    listed $109,900 Coming Soon 1 DOM

ⓘ 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: $1,877 · $156/mo
• Projected year-2 tax: $1,877 · $156/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 3/10 Moderate 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: $14,053
• − Mortgage interest: −$6,156
• − Property taxes: −$1,877
• − Insurance: −$550
• − Repairs & maintenance: −$1,124
• − Management: −$1,124
• − Depreciation: −$3,197
• Taxable income: $25
• Est. tax owed @ 24.0%: −$6
• After-tax cash flow: $1,753/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

+122.0% since first listed

37 events — show timeline

• 2026-06-05 Coming Soon $109,900 MiRealSource-MiMLS
• 2025-01-10 Sold (Public Records) $58,000 Public Records
• 2025-01-08 Sold (MLS) $58,000 REALCOMP
• 2025-01-08 Sold (MLS) $58,000 MiRealSource-MiMLS
• 2024-12-04 Pending — MiRealSource-MiMLS
• 2024-12-04 Listing Removed — REALCOMP
• 2024-11-25 Listed $64,990 REALCOMP
• 2024-11-25 Listed $64,990 MiRealSource-MiMLS
• 2020-08-19 Sold (MLS) $21,000 MiRealSource-MiMLS
• 2020-08-19 Sold (MLS) $21,000 REALCOMP
• 2020-08-11 Pending — REALCOMP
• 2020-08-11 Pending — MiRealSource-MiMLS
• 2019-09-20 Listed $35,000 MiRealSource-MiMLS
• 2019-09-20 Listed $35,000 REALCOMP
• 2019-04-12 Listing Removed — REALCOMP
• 2019-04-12 Listing Removed — MiRealSource-MiMLS
• 2018-09-17 Listed $36,000 REALCOMP
• 2018-09-17 Listed $36,000 MiRealSource-MiMLS
• 2018-03-15 Listing Removed — REALCOMP
• 2018-03-15 Listing Removed — MiRealSource-MiMLS
• 2017-12-12 Listing Removed — REALCOMP
• 2017-12-12 Listing Removed — MiRealSource-MiMLS
• 2017-12-12 Listed $34,900 REALCOMP
• 2017-12-12 Listed $34,900 MiRealSource-MiMLS
• 2017-11-19 Price Changed $34,900 MiRealSource-MiMLS
• 2017-09-15 Listed $34,900 REALCOMP
• 2017-09-14 Listed $44,795 MiRealSource-MiMLS
• 2017-01-05 Sold (MLS) $19,000 MiRealSource-MiMLS
• 2017-01-05 Sold (MLS) $19,000 REALCOMP
• 2017-01-04 Pending — MiRealSource-MiMLS
• 2016-09-15 Price Changed $29,900 MiRealSource-MiMLS
• 2016-08-26 Listed $34,900 MiRealSource-MiMLS
• 2016-08-26 Listed $29,900 REALCOMP
• 2002-06-17 Sold (Public Records) $49,000 Public Records
• 1999-09-17 Sold (Public Records) $46,000 Public Records
• 1999-08-31 Sold (MLS) $46,000 MiRealSource-MiMLS
• 1999-07-06 Listed $49,500 MiRealSource-MiMLS

Property tax history

+3.1%/yr

Latest (2025): $1,877 · -31.1% YoY. Source: county tax records.