10854 S Hemlock Rd · St. Charles, MI 48614

$150,000

4 bd · 1.0 ba · 5,550 sqft · SingleFamily · 293 Days on market

Built 1905 Good condition 0.50 ac lot

---

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 +22.2/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.9/10.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0

Listing remarks MLS

This almost 6,000 sq ft building is a clean slate for many of your dreams to come true! From residential to commercial, the options are endless! This building would make a great daycare, rental, retail space, and more! Many features provide for a great opportunity including an elevator, multiple bedroom/ office spaces, a full kitchen in the basement with plenty of space both upstairs and downstairs. Many updates have been done including new flooring throughout, new a/c unit, new Kitchen remodel, never been used double ovens in the kitchen, newly painted and landscaped and more! Located only 20 mins from HSC with grocery across the street!

Key facts

• New a/c unit
• New flooring
• New kitchen remodel

Tags

• FULL KITCHEN IN THE BASEMENT
• NEW FLOORING
• NEW A/C UNIT
• NEW KITCHEN REMODEL
• NEVER BEEN USED DOUBLE OVENS
• NEWLY PAINTED

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $246 ($3k/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 $148k (1.3% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — 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: 6 active listings in the ZIP; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Saginaw County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 293 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $100k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $150k implies a 295% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 293 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1905 — 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: 0.99% ✗
• Cap rate: 8.26%
• Cash-on-cash: 7.02%
• DSCR: 1.31
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.4%
• Equity multiple: 3.32×
• Total profit: $97,287
• Equity at exit: $135,132

10-year hold

• IRR: 25.5%
• Equity multiple: 7.53×
• Total profit: $274,102
• Equity at exit: $291,417

Cash invested: $42,000 (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 48614

• Home prices YoY: 9.9%
• Active inventory: 6
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,480 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$75 /mo · $898/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $246

Break-even live

Break-even rent $1,170

Max offer price $150,000

Occupancy floor 78%

Sensitivity live

Price	-10% $330	-5% $288	+0% $246	+5% $203	+10% $161
Rent	-10% $129	-5% $187	+0% $246	+5% $304	+10% $363
Rate	-1.0pp $321	-0.5pp $284	base $246	+0.5pp $207	+1.0pp $167

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-04
   statusdays on market $150,000 Pending 293 DOM
2. 2026-06-02
   days on market $150,000 Active 292 DOM
3. 2026-06-01
   days on market $150,000 Active 291 DOM
4. 2026-05-31
   days on market $150,000 Active 290 DOM
5. 2026-05-31
   days on market $150,000 Active 289 DOM
6. 2026-04-10
   price $150,000 649-char remark

   Show marketing remark (649 chars)

   This almost 6,000 sq ft building is a clean slate for many of your dreams to come true! From residential to commercial, the options are endless! This building would make a great daycare, rental, retail space, and more! Many features provide for a great opportunity including an elevator, multiple bedroom/ office spaces, a full kitchen in the basement with plenty of space both upstairs and downstairs. Many updates have been done including new flooring throughout, new a/c unit, new Kitchen remodel, never been used double ovens in the kitchen, newly painted and landscaped and more! Located only 20 mins from HSC with grocery across the street!

7. 2026-04-10
   price $150,000 649-char remark

   Show marketing remark (649 chars)

   This almost 6,000 sq ft building is a clean slate for many of your dreams to come true! From residential to commercial, the options are endless! This building would make a great daycare, rental, retail space, and more! Many features provide for a great opportunity including an elevator, multiple bedroom/ office spaces, a full kitchen in the basement with plenty of space both upstairs and downstairs. Many updates have been done including new flooring throughout, new a/c unit, new Kitchen remodel, never been used double ovens in the kitchen, newly painted and landscaped and more! Located only 20 mins from HSC with grocery across the street!

8. 2026-03-11
   price $170,000 649-char remark

   Show marketing remark (649 chars)

   This almost 6,000 sq ft building is a clean slate for many of your dreams to come true! From residential to commercial, the options are endless! This building would make a great daycare, rental, retail space, and more! Many features provide for a great opportunity including an elevator, multiple bedroom/ office spaces, a full kitchen in the basement with plenty of space both upstairs and downstairs. Many updates have been done including new flooring throughout, new a/c unit, new Kitchen remodel, never been used double ovens in the kitchen, newly painted and landscaped and more! Located only 20 mins from HSC with grocery across the street!

9. 2026-03-11
   price $170,000 649-char remark

   Show marketing remark (649 chars)

   This almost 6,000 sq ft building is a clean slate for many of your dreams to come true! From residential to commercial, the options are endless! This building would make a great daycare, rental, retail space, and more! Many features provide for a great opportunity including an elevator, multiple bedroom/ office spaces, a full kitchen in the basement with plenty of space both upstairs and downstairs. Many updates have been done including new flooring throughout, new a/c unit, new Kitchen remodel, never been used double ovens in the kitchen, newly painted and landscaped and more! Located only 20 mins from HSC with grocery across the street!

10. 2025-08-26
    price $175,000 649-char remark

    Show marketing remark (649 chars)

    This almost 6,000 sq ft building is a clean slate for many of your dreams to come true! From residential to commercial, the options are endless! This building would make a great daycare, rental, retail space, and more! Many features provide for a great opportunity including an elevator, multiple bedroom/ office spaces, a full kitchen in the basement with plenty of space both upstairs and downstairs. Many updates have been done including new flooring throughout, new a/c unit, new Kitchen remodel, never been used double ovens in the kitchen, newly painted and landscaped and more! Located only 20 mins from HSC with grocery across the street!

11. 2025-08-26
    price $175,000 649-char remark

    Show marketing remark (649 chars)

    This almost 6,000 sq ft building is a clean slate for many of your dreams to come true! From residential to commercial, the options are endless! This building would make a great daycare, rental, retail space, and more! Many features provide for a great opportunity including an elevator, multiple bedroom/ office spaces, a full kitchen in the basement with plenty of space both upstairs and downstairs. Many updates have been done including new flooring throughout, new a/c unit, new Kitchen remodel, never been used double ovens in the kitchen, newly painted and landscaped and more! Located only 20 mins from HSC with grocery across the street!

12. 2025-08-14
    listed $249,900 Active 649-char remark

    Show marketing remark (649 chars)

    This almost 6,000 sq ft building is a clean slate for many of your dreams to come true! From residential to commercial, the options are endless! This building would make a great daycare, rental, retail space, and more! Many features provide for a great opportunity including an elevator, multiple bedroom/ office spaces, a full kitchen in the basement with plenty of space both upstairs and downstairs. Many updates have been done including new flooring throughout, new a/c unit, new Kitchen remodel, never been used double ovens in the kitchen, newly painted and landscaped and more! Located only 20 mins from HSC with grocery across the street!

13. 2025-08-14
    listed $249,900 Active 649-char remark

    Show marketing remark (649 chars)

    This almost 6,000 sq ft building is a clean slate for many of your dreams to come true! From residential to commercial, the options are endless! This building would make a great daycare, rental, retail space, and more! Many features provide for a great opportunity including an elevator, multiple bedroom/ office spaces, a full kitchen in the basement with plenty of space both upstairs and downstairs. Many updates have been done including new flooring throughout, new a/c unit, new Kitchen remodel, never been used double ovens in the kitchen, newly painted and landscaped and more! Located only 20 mins from HSC with grocery across the street!

14. 2025-03-28
    historical
15. 2025-03-28
    status Active
16. 2025-03-28
    price $190,000
17. 2024-11-14
    historical
18. 2024-11-14
    status Active
19. 2024-11-13
    price $210,000
20. 2024-09-18
    historical
21. 2024-09-18
    status Active
22. 2024-09-17
    price $250,000
23. 2024-08-03
    historical
24. 2024-08-02
    listed $299,900 Active
25. 2018-10-15
    soldstatus $38,000

ⓘ 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: $898 · $75/mo
• Projected year-2 tax: $1,604 · $134/mo
• Expected delta: +$706/yr (+$59/mo · 78.6%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,765
• − Mortgage interest: −$8,402
• − Property taxes: −$898
• − Insurance: −$750
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − Depreciation: −$4,364
• Taxable income: $508
• Est. tax owed @ 24.0%: −$122
• After-tax cash flow: $2,825/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This 6,000 sq ft building is in excellent condition with modern updates and a clean slate for various uses. It's well-suited for residential, commercial, or mixed-use purposes.

Value-add opportunities

• Both Landscaping and curb appeal — Enhances curb appeal and could attract more potential buyers
• Both Add a front porch — Could increase both resale and rental value by providing a welcoming entrance

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal — Enhances curb appeal and could attract more potential buyers ↑
• Both Add a front porch — Could increase both resale and rental value by providing a welcoming entrance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• City population: 5,655
• Population (ZIP): 921

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 (96%)
• Race & ethnicity: White 96% Two or more races 3%
• Common ancestry: Lithuanian 6% Romanian 3% Italian 2%
• Foreign-born: 1%
• Languages at home: 99% English-only · German/W. Germanic 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: ▲ 20.04%
• Current HPI: 222.0655
• 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

+294.7% since first listed

20 events — show timeline

• 2026-04-10 Price Changed $150,000 MiRealSource-MiMLS
• 2026-04-10 Price Changed $150,000 REALCOMP
• 2026-03-11 Price Changed $170,000 MiRealSource-MiMLS
• 2026-03-11 Price Changed $170,000 REALCOMP
• 2025-08-26 Price Changed $175,000 MiRealSource-MiMLS
• 2025-08-26 Price Changed $175,000 REALCOMP
• 2025-08-14 Listed $249,900 REALCOMP
• 2025-08-14 Listed $249,900 MiRealSource-MiMLS
• 2025-03-28 Listing Removed — MiRealSource-MiMLS
• 2025-03-28 Relisted — MiRealSource-MiMLS
• 2025-03-28 Price Changed $190,000 MiRealSource-MiMLS
• 2024-11-14 Listing Removed — MiRealSource-MiMLS
• 2024-11-14 Relisted — MiRealSource-MiMLS
• 2024-11-13 Price Changed $210,000 MiRealSource-MiMLS
• 2024-09-18 Listing Removed — MiRealSource-MiMLS
• 2024-09-18 Relisted — MiRealSource-MiMLS
• 2024-09-17 Price Changed $250,000 MiRealSource-MiMLS
• 2024-08-03 Listing Removed — MiRealSource-MiMLS
• 2024-08-02 Listed $299,900 MiRealSource-MiMLS
• 2018-10-15 Sold (Public Records) $38,000 Public Records

Property tax history

+170.4%/yr

Latest (2025): $898 · +5191.3% YoY. Source: county tax records.