309 E North St · St. Charles, MI 48655

$62,900

3 bd · 1.0 ba · 1,773 sqft · SingleFamily public records · 65 Days on market

Built 1925 1.85 ac lot $35/sqft · 65% below area

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity to own nearly 2 acres in the village of ST Charles! This 1925-built home offers 1,773 square feet of character and space, featuring 3 bedrooms and 1 full bathroom. Bring your tools and vision to transform this classic residence into your dream home. The 1.85 irregular lot provides ample room for gardening, recreation, or future expansions. The 2-car detached garage is ready for a full overhaul and serves as the perfect project for a hobbyist or mechanic. Property is sold as-is--perfect for those looking to build sweat equity in a competitive market! Call for your private showing today.

Key facts

• 1925 built home
• Nearly 2 acres
• Irregular lot

Tags

• NEARLY 2 ACRES
• 1925 BUILT HOME
• IRREGULAR LOT
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Recommended offer: $59k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• St. Charles Community Schools (rural): math 35% / reading 47% proficiency, ranked #196 of 540 in MI (top 36%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: St Charles Elementary School (math 47% / reading 47%, grade D-, #433 of 1,397 statewide, top 34%, 376 students, 58% FRL); St Charles Community Middlehigh School (math 32% / reading 57%, grade F, #214 of 713 statewide, top 36%, 326 students, 44% FRL).
• Market conditions: 32 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 $435 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 + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,126 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — 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. 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: 1.62% ✓
• Cap rate: 12.92%
• Cash-on-cash: 23.68%
• DSCR: 2.05
• GRM: 5.1

CMA / ARV

• ARV (median comp): $182,013
• List price: $62,900
• Delta: -65.44%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 W Maple St	0.31mi	3/2.0	1,776 (+0%)	24mo	$148,000	$83	61
419 W Walnut St	0.46mi	3/2.0	1,636 (-8%)	3mo	$185,000	$113	60
410 W Maple St	0.47mi	4/2.5 (+1)	1,886 (+6%)	2mo	$289,900	$154	55
1075 N Main St	0.10mi	3/1.0	1,533 (-14%)	23mo	$185,000	$121	54
134 Sunview Dr	0.37mi	3/1.5	1,948 (+10%)	18mo	$210,000	$108	49
126 E Maple St	0.27mi	3/2.0	1,512 (-15%)	15mo	$150,000	$99	46

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: 16.9%
• Equity multiple: 1.68×
• Total profit: $11,973
• Equity at exit: $9,379

10-year hold

• IRR: 25.4%
• Equity multiple: 3.22×
• Total profit: $39,051
• Equity at exit: $5,438

Cash invested: $17,612 (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 48655

• Active inventory: 32
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,020 medium
• Mortgage (P&I): −$330
• Tax from tax record: −$102 /mo · $1,228/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $348

Break-even live

Break-even rent $580

Max offer price $62,900

Occupancy floor 61%

Sensitivity live

Price	-10% $383	-5% $365	+0% $348	+5% $330	+10% $312
Rent	-10% $267	-5% $307	+0% $348	+5% $388	+10% $428
Rate	-1.0pp $379	-0.5pp $364	base $348	+0.5pp $331	+1.0pp $315

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: $15,725
• Closing costs: $1,887
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $62,900 Active 65 DOM
2. 2026-06-21
   days on market $62,900 Active 64 DOM
3. 2026-06-18
   days on market $62,900 Active 62 DOM
4. 2026-06-17
   days on market $62,900 Active 61 DOM
5. 2026-06-16
   days on market $62,900 Active 60 DOM
6. 2026-06-15
   days on market $62,900 Active 59 DOM
7. 2026-06-13
   days on market $62,900 Active 57 DOM
8. 2026-06-12
   days on market $62,900 Active 56 DOM
9. 2026-06-09
   days on market $62,900 Active 53 DOM
10. 2026-06-08
    days on market $62,900 Active 52 DOM
11. 2026-06-07
    days on market $62,900 Active 51 DOM
12. 2026-06-07
    days on market $62,900 Active 50 DOM
13. 2026-06-04
    days on market $62,900 Active 47 DOM
14. 2026-06-02
    days on market $62,900 Active 46 DOM
15. 2026-06-01
    days on market $62,900 Active 45 DOM
16. 2026-05-31
    days on market $62,900 Active 44 DOM
17. 2026-05-31
    days on market $62,900 Active 43 DOM
18. 2026-04-17
    listed $62,900 Active 609-char remark

    Show marketing remark (609 chars)

    Rare opportunity to own nearly 2 acres in the village of ST Charles! This 1925-built home offers 1,773 square feet of character and space, featuring 3 bedrooms and 1 full bathroom. Bring your tools and vision to transform this classic residence into your dream home. The 1.85 irregular lot provides ample room for gardening, recreation, or future expansions. The 2-car detached garage is ready for a full overhaul and serves as the perfect project for a hobbyist or mechanic. Property is sold as-is--perfect for those looking to build sweat equity in a competitive market! Call for your private showing today.

19. 2026-04-17
    listed $62,900 Active 609-char remark

    Show marketing remark (609 chars)

    Rare opportunity to own nearly 2 acres in the village of ST Charles! This 1925-built home offers 1,773 square feet of character and space, featuring 3 bedrooms and 1 full bathroom. Bring your tools and vision to transform this classic residence into your dream home. The 1.85 irregular lot provides ample room for gardening, recreation, or future expansions. The 2-car detached garage is ready for a full overhaul and serves as the perfect project for a hobbyist or mechanic. Property is sold as-is--perfect for those looking to build sweat equity in a competitive market! Call for your private showing today.

ⓘ 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: $1,228 · $102/mo
• Projected year-2 tax: $1,228 · $102/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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $12,243
• − Mortgage interest: −$3,523
• − Property taxes: −$1,228
• − Insurance: −$314
• − Repairs & maintenance: −$979
• − Management: −$979
• − Depreciation: −$1,830
• Taxable income: $3,388
• Est. tax owed @ 24.0%: −$813
• After-tax cash flow: $3,358/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: St. Charles Community Schools
• NCES district ID: 2632640
• Math proficiency: 35% ▼ -3.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $49,744
• Composite: 35.25/100
• National rank: #4976
• State rank: #196 of 540 in MI

Livability — St. Charles

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Charles, MI
• City population: 5,655
• Population (ZIP): 5,655

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 4% Black 3%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 9% Lithuanian 6% Iranian 1%
• Foreign-born: 0%

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: ▼ -138.51%
• Current HPI: 221.6423
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-17 Listed $62,900 REALCOMP
• 2026-04-17 Listed $62,900 MiRealSource-MiMLS

Property tax history

-0.4%/yr

Latest (2025): $1,228 · -40.7% YoY. Source: county tax records.