2015 S Washington St · Saginaw, MI 48601

$100,000

3 bd · 2.0 ba · 1,549 sqft · SingleFamily public records · 28 Days on market

Built 1904 4,356 sqft lot

---

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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 4-bedroom, 1.5-bath home is ready for your personal touch! Featuring hardwood floors in lower level and 1,549 square feet of living space, a warm inviting atmosphere. With a little love and care you can make it truly your own. Enjoy the convenience of a 2-car garage and a basement for extra storage. Whether you are looking for a cozy retreat or an investment opportunity, this home is full of possibilities! Adjacent corner lot is included in the sale.

Key facts

• Basement
• 2-car garage
• Adjacent corner lot

Tags

• HARDWOOD FLOORS
• 2-CAR GARAGE
• BASEMENT
• ADJACENT CORNER LOT

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories
• Construction: Vinyl siding; Block and brick/mortar foundation; Built with one and one-half level design
• Exterior features: Corner lot; Public maintained road; Lot dimensions approximately 40 x 110

Interior

• Kitchen: Oven; Refrigerator; Range
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Fireplace in the living room; 7 total rooms; Block basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% vs local median 8.3% 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: 199 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 $691 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 16y 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 $52k; list at $100k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1904 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Built in 1904 — 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: 1.40% ✓
• Cap rate: 11.88%
• Cash-on-cash: 19.95%
• DSCR: 1.89
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $60,411
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
805 Birch St	0.12mi	3/2.5	1,747 (+13%)	3mo	$119,900	$69	68
2420 S Jefferson Ave	0.61mi	3/2.0	1,522 (-2%)	8mo	$35,000	$23	62
621 Hess Ave	0.54mi	4/2.0 (+1)	1,434 (-7%)	11mo	$86,000	$60	48
1932 Lowell	0.65mi	4/2.0 (+1)	1,440 (-7%)	15mo	$54,500	$38	40
2932 Salina St	0.62mi	4/1.0 (+1)	1,350 (-13%)	13mo	$52,500	$39	29

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: 12.1%
• Equity multiple: 1.48×
• Total profit: $13,443
• Equity at exit: $14,910

10-year hold

• IRR: 21.0%
• Equity multiple: 2.78×
• Total profit: $49,859
• Equity at exit: $8,646

Cash invested: $28,000 (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 48601

• Home prices YoY: -32.1%
• Active inventory: 199
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,404 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$78 /mo · $934/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $466

Break-even live

Break-even rent $815

Max offer price $100,000

Occupancy floor 62%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 38 events

1. 2026-04-29
   status Pending

   Show marketing remark (459 chars)

   This 4-bedroom, 1.5-bath home is ready for your personal touch! Featuring hardwood floors in lower level and 1,549 square feet of living space, a warm inviting atmosphere. With a little love and care you can make it truly your own. Enjoy the convenience of a 2-car garage and a basement for extra storage. Whether you are looking for a cozy retreat or an investment opportunity, this home is full of possibilities! Adjacent corner lot is included in the sale.

2. 2026-04-29
   status Pending 459-char remark

   Show marketing remark (459 chars)

   This 4-bedroom, 1.5-bath home is ready for your personal touch! Featuring hardwood floors in lower level and 1,549 square feet of living space, a warm inviting atmosphere. With a little love and care you can make it truly your own. Enjoy the convenience of a 2-car garage and a basement for extra storage. Whether you are looking for a cozy retreat or an investment opportunity, this home is full of possibilities! Adjacent corner lot is included in the sale.

3. 2026-04-07
   status Active

   Show marketing remark (459 chars)

   This 4-bedroom, 1.5-bath home is ready for your personal touch! Featuring hardwood floors in lower level and 1,549 square feet of living space, a warm inviting atmosphere. With a little love and care you can make it truly your own. Enjoy the convenience of a 2-car garage and a basement for extra storage. Whether you are looking for a cozy retreat or an investment opportunity, this home is full of possibilities! Adjacent corner lot is included in the sale.

4. 2026-04-07
   status Active 459-char remark

   Show marketing remark (459 chars)

   This 4-bedroom, 1.5-bath home is ready for your personal touch! Featuring hardwood floors in lower level and 1,549 square feet of living space, a warm inviting atmosphere. With a little love and care you can make it truly your own. Enjoy the convenience of a 2-car garage and a basement for extra storage. Whether you are looking for a cozy retreat or an investment opportunity, this home is full of possibilities! Adjacent corner lot is included in the sale.

5. 2026-03-24
   status Pending

   Show marketing remark (459 chars)

   This 4-bedroom, 1.5-bath home is ready for your personal touch! Featuring hardwood floors in lower level and 1,549 square feet of living space, a warm inviting atmosphere. With a little love and care you can make it truly your own. Enjoy the convenience of a 2-car garage and a basement for extra storage. Whether you are looking for a cozy retreat or an investment opportunity, this home is full of possibilities! Adjacent corner lot is included in the sale.

6. 2026-03-24
   status Pending 459-char remark

   Show marketing remark (459 chars)

   This 4-bedroom, 1.5-bath home is ready for your personal touch! Featuring hardwood floors in lower level and 1,549 square feet of living space, a warm inviting atmosphere. With a little love and care you can make it truly your own. Enjoy the convenience of a 2-car garage and a basement for extra storage. Whether you are looking for a cozy retreat or an investment opportunity, this home is full of possibilities! Adjacent corner lot is included in the sale.

7. 2026-03-18
   listed $100,000 Active

   Show marketing remark (459 chars)

   This 4-bedroom, 1.5-bath home is ready for your personal touch! Featuring hardwood floors in lower level and 1,549 square feet of living space, a warm inviting atmosphere. With a little love and care you can make it truly your own. Enjoy the convenience of a 2-car garage and a basement for extra storage. Whether you are looking for a cozy retreat or an investment opportunity, this home is full of possibilities! Adjacent corner lot is included in the sale.

8. 2026-03-18
   listed $100,000 Active 459-char remark

   Show marketing remark (459 chars)

   This 4-bedroom, 1.5-bath home is ready for your personal touch! Featuring hardwood floors in lower level and 1,549 square feet of living space, a warm inviting atmosphere. With a little love and care you can make it truly your own. Enjoy the convenience of a 2-car garage and a basement for extra storage. Whether you are looking for a cozy retreat or an investment opportunity, this home is full of possibilities! Adjacent corner lot is included in the sale.

9. 2026-03-06
   historical
10. 2026-02-09
    status Active
11. 2026-02-09
    status Active
12. 2026-02-01
    status Pending
13. 2026-02-01
    status Pending
14. 2026-01-23
    price $100,000
15. 2026-01-22
    price $100,000
16. 2025-11-13
    price $110,000
17. 2025-11-13
    price $110,000
18. 2025-10-04
    price $120,000
19. 2025-10-03
    price $120,000
20. 2025-09-23
    price $130,000
21. 2025-09-22
    price $130,000
22. 2025-09-03
    listed $140,000 Active
23. 2025-09-03
    listed $140,000 Active
24. 2020-12-01
    historical
25. 2020-12-01
    soldstatus $52,000 Sold
26. 2020-12-01
    soldstatus $52,000 Closed
27. 2020-12-01
    soldstatus $52,000
28. 2020-11-19
    status Pending
29. 2020-11-19
    status Pending
30. 2020-11-13
    listed $62,900 Active
31. 2020-11-13
    listed $62,900 Active
32. 2010-04-09
    soldstatus $6,123
33. 2010-04-09
    soldstatus $6,123
34. 2010-04-09
    soldstatus $6,123
35. 2010-03-26
    historical
36. 2010-03-12
    listed $4,900
37. 2010-03-12
    listed $4,900
38. 2010-03-12
    listed $4,900

ⓘ 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: $934 · $78/mo
• Projected year-2 tax: $1,237 · $103/mo
• Expected delta: +$303/yr (+$25/mo · 32.5%)

ⓘ 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 ≥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: $16,853
• − Mortgage interest: −$5,602
• − Property taxes: −$934
• − Insurance: −$500
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$2,909
• Taxable income: $4,212
• Est. tax owed @ 24.0%: −$1,011
• After-tax cash flow: $4,576/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
• City population: 54,884
• Population (ZIP): 32,069

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 0.56)
• Race & ethnicity: Black 59% White 27% Hispanic / Latino 12% Two or more races 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▼ -93.46%
• Current HPI: 197.3359
• 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

+1940.8% since first listed

38 events — show timeline

• 2026-04-29 Pending — REALCOMP
• 2026-04-29 Pending — MiRealSource-MiMLS
• 2026-04-07 Relisted — REALCOMP
• 2026-04-07 Relisted — MiRealSource-MiMLS
• 2026-03-24 Pending — REALCOMP
• 2026-03-24 Pending — MiRealSource-MiMLS
• 2026-03-18 Listed $100,000 REALCOMP
• 2026-03-18 Listed $100,000 MiRealSource-MiMLS
• 2026-03-06 Listing Removed — MiRealSource-MiMLS
• 2026-02-09 Relisted — REALCOMP
• 2026-02-09 Relisted — MiRealSource-MiMLS
• 2026-02-01 Pending — REALCOMP
• 2026-02-01 Pending — MiRealSource-MiMLS
• 2026-01-23 Price Changed $100,000 MiRealSource-MiMLS
• 2026-01-22 Price Changed $100,000 REALCOMP
• 2025-11-13 Price Changed $110,000 MiRealSource-MiMLS
• 2025-11-13 Price Changed $110,000 REALCOMP
• 2025-10-04 Price Changed $120,000 MiRealSource-MiMLS
• 2025-10-03 Price Changed $120,000 REALCOMP
• 2025-09-23 Price Changed $130,000 MiRealSource-MiMLS
• 2025-09-22 Price Changed $130,000 REALCOMP
• 2025-09-03 Listed $140,000 REALCOMP
• 2025-09-03 Listed $140,000 MiRealSource-MiMLS
• 2020-12-01 Listing Removed — MiRealSource-MiMLS
• 2020-12-01 Sold (Public Records) $52,000 Public Records
• 2020-12-01 Sold (MLS) $52,000 MiRealSource-MiMLS
• 2020-12-01 Sold (MLS) $52,000 REALCOMP
• 2020-11-19 Pending — REALCOMP
• 2020-11-19 Pending — MiRealSource-MiMLS
• 2020-11-13 Listed $62,900 MiRealSource-MiMLS
• 2020-11-13 Listed $62,900 REALCOMP
• 2010-04-09 Sold (MLS) $6,123 MiRealSource-MiMLS
• 2010-04-09 Sold (MLS) $6,123 MiRealSource-MiMLS
• 2010-04-09 Sold (MLS) $6,123 REALCOMP
• 2010-03-26 Listing Removed — MiRealSource-MiMLS
• 2010-03-12 Listed $4,900 MiRealSource-MiMLS
• 2010-03-12 Listed $4,900 MiRealSource-MiMLS
• 2010-03-12 Listed $4,900 REALCOMP

Property tax history

+5.2%/yr

Latest (2025): $934 · -17.2% YoY. Source: county tax records.