2626 Hermansau St · Saginaw, MI 48602

$34,900

3 bd · 2.0 ba · 1,269 sqft · SingleFamily public records · 14 Days on market

Built 1938 4,356 sqft lot ↓ 42% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to Classic. Cape Cod offering three bedroom 2 bathroom with full basement in city of Saginaw. Features fenced yard and Detached garage for storage. This property offers compelling investment opportunity with solid potential and various renovation approaches are possible. Don't miss your opportunity, call today!

Key facts

• Fenced yard
• Detached garage
• 4,356 sq ft lot

Tags

• FENCED YARD
• DETACHED GARAGE
• INVESTMENT OPPORTUNITY

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories
• Construction: Aluminum siding construction
• Exterior features: Aluminum siding; Shed(s); Lot approximately 60 x 121

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Cap rate 27.1% vs local median 8.2% 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 $241 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,900

Questions for the listing agent

1. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 3.31% ✓
• Cap rate: 27.14%
• Cash-on-cash: 74.46%
• DSCR: 4.31
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $74,871
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2338 N Bond St	0.36mi	3/2.0	1,302 (+3%)	1mo	$77,000	$59	78
603 Davenport Ave	0.41mi	2/1.0 (-1)	1,224 (-4%)	2mo	$60,000	$49	64
815 W Genesee Ave	0.55mi	3/1.0	1,305 (+3%)	5mo	$72,000	$55	61
2981 Harrison St	0.47mi	3/1.0	1,196 (-6%)	6mo	$65,000	$54	59
3035 Schaeffer St	0.45mi	4/1.5 (+1)	1,186 (-6%)	6mo	$78,500	$66	56
1923 N Oakley St	0.66mi	3/2.0	1,343 (+6%)	4mo	$20,000	$15	56
2454 Durand St	0.39mi	4/1.0 (+1)	1,142 (-10%)	2mo	$33,500	$29	55
2955 Eddy St	0.39mi	3/1.0	1,107 (-13%)	6mo	$75,200	$68	52
2161 Plainview	0.72mi	4/1.5 (+1)	1,211 (-5%)	6mo	$158,000	$130	47
2023 Schaefer St	0.49mi	4/1.5 (+1)	1,430 (+13%)	4mo	$126,000	$88	46
1710 State St	0.73mi	4/2.0 (+1)	1,358 (+7%)	6mo	$75,000	$55	44
1724 State St	0.75mi	3/1.0	1,144 (-10%)	2mo	$75,000	$66	43

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: 75.5%
• Equity multiple: 4.50×
• Total profit: $34,171
• Equity at exit: $5,204

10-year hold

• IRR: 79.5%
• Equity multiple: 9.65×
• Total profit: $84,528
• Equity at exit: $3,018

Cash invested: $9,772 (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: 2.5×

Monthly cashflow live

• Estimated rent: $1,154 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$108 /mo · $1,296/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $606

Break-even live

Break-even rent $387

Max offer price $34,900

Occupancy floor 42%

Sensitivity live

Price	-10% $626	-5% $616	+0% $606	+5% $596	+10% $587
Rent	-10% $515	-5% $561	+0% $606	+5% $652	+10% $698
Rate	-1.0pp $624	-0.5pp $615	base $606	+0.5pp $597	+1.0pp $588

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-02
   status $34,900 Pending 14 DOM
2. 2026-06-01
   days on market $34,900 Active 14 DOM
3. 2026-05-31
   days on market $34,900 Active 13 DOM
4. 2026-05-30
   days on market $34,900 Active 12 DOM
5. 2026-05-18
   listed $34,900 Active

   Show marketing remark (315 chars)

   Welcome to classic. Cape Cod offering three bedroom, 2 bath with basement in city of Saginaw. Features fenced yard and detached garage for storage. This property offers compelling investment opportunity with solid potential and various renovation approaches are possible. Don't miss your opportunity , call today!

6. 2026-05-18
   listed $34,900 Active 320-char remark

   Show marketing remark (315 chars)

   Welcome to classic. Cape Cod offering three bedroom, 2 bath with basement in city of Saginaw. Features fenced yard and detached garage for storage. This property offers compelling investment opportunity with solid potential and various renovation approaches are possible. Don't miss your opportunity , call today!

7. 2026-05-18
   listed $34,900 Active 315-char remark

   Show marketing remark (315 chars)

   Welcome to classic. Cape Cod offering three bedroom, 2 bath with basement in city of Saginaw. Features fenced yard and detached garage for storage. This property offers compelling investment opportunity with solid potential and various renovation approaches are possible. Don't miss your opportunity , call today!

8. 2026-04-11
   historical
9. 2026-04-11
   historical
10. 2025-10-09
    listed $70,000 Active
11. 2025-10-09
    listed $70,000 Active
12. 2007-11-06
    soldstatus $54,537
13. 2007-10-26
    soldstatus $54,537
14. 2007-10-26
    soldstatus $54,537
15. 2007-10-02
    historical
16. 2007-05-20
    listed $59,900
17. 2007-05-20
    listed $59,900

ⓘ 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: $1,296 · $108/mo
• Projected year-2 tax: $1,296 · $108/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $13,852
• − Mortgage interest: −$1,955
• − Property taxes: −$1,296
• − Insurance: −$174
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$1,015
• Taxable income: $7,195
• Est. tax owed @ 24.0%: −$1,727
• After-tax cash flow: $5,550/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

-41.7% since first listed

13 events — show timeline

• 2026-05-18 Listed $34,900 REALCOMP
• 2026-05-18 Listed $34,900 MiRealSource-MiMLS
• 2026-05-18 Listed $34,900 MiRealSource-MiMLS
• 2026-04-11 Listing Removed — REALCOMP
• 2026-04-11 Listing Removed — MiRealSource-MiMLS
• 2025-10-09 Listed $70,000 REALCOMP
• 2025-10-09 Listed $70,000 MiRealSource-MiMLS
• 2007-11-06 Sold (Public Records) $54,537 Public Records
• 2007-10-26 Sold (MLS) $54,537 REALCOMP
• 2007-10-26 Sold (MLS) $54,537 MiRealSource-MiMLS
• 2007-10-02 Listing Removed — MiRealSource-MiMLS
• 2007-05-20 Listed $59,900 REALCOMP
• 2007-05-20 Listed $59,900 MiRealSource-MiMLS

Property tax history

+3.4%/yr

Latest (2025): $1,296 · -13.4% YoY. Source: county tax records.