2604 Owen St · Saginaw, MI 48601

$65,900

2 bd · 1.0 ba · 772 sqft · SingleFamily public records · 70 Days on market

Built 1939 6,534 sqft lot ↓ 12% 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
• 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

Turn-key and income-producing opportunity! This is 2604 Owen Street in Saginaw—an updated 2-bedroom, 1-bath home designed for both comfortable living and immediate rental potential. Featuring updated flooring, fresh paint, stainless steel appliances, and a remodeled bathroom, this property is fully prepared for its next owner. The fully fenced all around with a secure metal gate offers added privacy, along with a two-car detached garage. A standout feature is the enclosed back patio with a built-in bar, creating a unique lounge-style space perfect for entertaining or enhancing guest experience. Sold fully furnished, this home includes complete living room and bedroom sets, big-screen TVs, and a washer and dryer—making it truly move-in ready or ideal for short- or long-term rental use. Currently set up as a turnkey business opportunity, the property includes a smart security system with cameras and individual door access via coded entry, allowing for efficient and modern property management. Schedule your showing today!

Key facts

• Fresh paint
• Fully fenced
• Remodeled bathroom

Tags

• UPDATED FLOORING
• FRESH PAINT
• STAINLESS STEEL APPLIANCES
• REMODELED BATHROOM
• FULLY FENCED
• SECURE METAL GATE

Property features AI

Finance

• Financial info: $1,104.15 annual tax (listed)
• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Aluminum and vinyl siding
• Exterior features: Lot approximately 0.15 acres; Lot dimensions listed as 6500

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Wall/window cooling units
• Interior features: Crawl space basement; 3 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $66k.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $66k).
• Recommended offer: $62k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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; 2 comparable units currently listed for rent nearby; 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 $456 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 70 days — a 6% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $61,946 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 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 1939 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.54% ✓
• Cap rate: 12.97%
• Cash-on-cash: 23.86%
• DSCR: 2.06
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $28,564
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2201 Robinwood Ave	0.28mi	2/1.0	768 (-0%)	20mo	$45,000	$59	70
2503 Thayer St	0.55mi	2/1.0	816 (+6%)	3mo	$30,000	$37	62
2714 Lincoln Ave	0.48mi	2/1.0	712 (-8%)	3mo	$5,500	$8	62
3212 Lowell Ave	0.41mi	2/1.0	864 (+12%)	10mo	$13,000	$15	52

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: 17.0%
• Equity multiple: 1.69×
• Total profit: $12,689
• Equity at exit: $9,826

10-year hold

• IRR: 25.6%
• Equity multiple: 3.23×
• Total profit: $41,145
• Equity at exit: $5,698

Cash invested: $18,452 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,014 medium
• Mortgage (P&I): −$346
• Tax from tax record: −$61 /mo · $729/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $367

Break-even live

Break-even rent $549

Max offer price $65,900

Occupancy floor 59%

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: $16,475
• Closing costs: $1,977
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 Parkside Ct Saginaw, MI	1.0–3.0	1.0–1.5	808	$800	$0.99	43d	1	1.16mi
3328 Webber St Saginaw, MI	3.0	1.0	878	$1,250	$1.42	43d	1	1.18mi

Listing history 22 events

1. 2026-06-19
   days on market $65,900 Active 70 DOM
2. 2026-06-18
   days on market $65,900 Active 69 DOM
3. 2026-06-17
   days on market $65,900 Active 68 DOM
4. 2026-06-16
   days on market $65,900 Active 67 DOM
5. 2026-06-15
   days on market $65,900 Active 66 DOM
6. 2026-06-14
   days on market $65,900 Active 64 DOM
7. 2026-06-12
   days on market $65,900 Active 63 DOM
8. 2026-06-09
   days on market $65,900 Active 60 DOM
9. 2026-06-08
   days on market $65,900 Active 59 DOM
10. 2026-06-07
    days on market $65,900 Active 58 DOM
11. 2026-06-05
    days on market $65,900 Active 55 DOM
12. 2026-06-03
    days on market $65,900 Active 54 DOM
13. 2026-06-02
    days on market $65,900 Active 53 DOM
14. 2026-06-01
    days on market $65,900 Active 52 DOM
15. 2026-05-31
    days on market $65,900 Active 51 DOM
16. 2026-05-30
    days on market $65,900 Active 50 DOM
17. 2026-05-21
    price $65,900 1047-char remark

    Show marketing remark (1047 chars)

    Turn-key and income-producing opportunity! This is 2604 Owen Street in Saginaw—an updated 2-bedroom, 1-bath home designed for both comfortable living and immediate rental potential. Featuring updated flooring, fresh paint, stainless steel appliances, and a remodeled bathroom, this property is fully prepared for its next owner. The fully fenced all around with a secure metal gate offers added privacy, along with a two-car detached garage. A standout feature is the enclosed back patio with a built-in bar, creating a unique lounge-style space perfect for entertaining or enhancing guest experience. Sold fully furnished, this home includes complete living room and bedroom sets, big-screen TVs, and a washer and dryer—making it truly move-in ready or ideal for short- or long-term rental use. Currently set up as a turnkey business opportunity, the property includes a smart security system with cameras and individual door access via coded entry, allowing for efficient and modern property management. Schedule your showing today!

18. 2026-05-20
    price $65,900
19. 2026-04-25
    price $69,900 1047-char remark

    Show marketing remark (1047 chars)

    Turn-key and income-producing opportunity! This is 2604 Owen Street in Saginaw—an updated 2-bedroom, 1-bath home designed for both comfortable living and immediate rental potential. Featuring updated flooring, fresh paint, stainless steel appliances, and a remodeled bathroom, this property is fully prepared for its next owner. The fully fenced all around with a secure metal gate offers added privacy, along with a two-car detached garage. A standout feature is the enclosed back patio with a built-in bar, creating a unique lounge-style space perfect for entertaining or enhancing guest experience. Sold fully furnished, this home includes complete living room and bedroom sets, big-screen TVs, and a washer and dryer—making it truly move-in ready or ideal for short- or long-term rental use. Currently set up as a turnkey business opportunity, the property includes a smart security system with cameras and individual door access via coded entry, allowing for efficient and modern property management. Schedule your showing today!

20. 2026-04-24
    price $69,900
21. 2026-04-10
    listed $74,900 Active

    Show marketing remark (1047 chars)

    Turn-key and income-producing opportunity! This is 2604 Owen Street in Saginaw—an updated 2-bedroom, 1-bath home designed for both comfortable living and immediate rental potential. Featuring updated flooring, fresh paint, stainless steel appliances, and a remodeled bathroom, this property is fully prepared for its next owner. The fully fenced all around with a secure metal gate offers added privacy, along with a two-car detached garage. A standout feature is the enclosed back patio with a built-in bar, creating a unique lounge-style space perfect for entertaining or enhancing guest experience. Sold fully furnished, this home includes complete living room and bedroom sets, big-screen TVs, and a washer and dryer—making it truly move-in ready or ideal for short- or long-term rental use. Currently set up as a turnkey business opportunity, the property includes a smart security system with cameras and individual door access via coded entry, allowing for efficient and modern property management. Schedule your showing today!

22. 2026-04-10
    listed $74,900 Active 1047-char remark

    Show marketing remark (1047 chars)

    Turn-key and income-producing opportunity! This is 2604 Owen Street in Saginaw—an updated 2-bedroom, 1-bath home designed for both comfortable living and immediate rental potential. Featuring updated flooring, fresh paint, stainless steel appliances, and a remodeled bathroom, this property is fully prepared for its next owner. The fully fenced all around with a secure metal gate offers added privacy, along with a two-car detached garage. A standout feature is the enclosed back patio with a built-in bar, creating a unique lounge-style space perfect for entertaining or enhancing guest experience. Sold fully furnished, this home includes complete living room and bedroom sets, big-screen TVs, and a washer and dryer—making it truly move-in ready or ideal for short- or long-term rental use. Currently set up as a turnkey business opportunity, the property includes a smart security system with cameras and individual door access via coded entry, allowing for efficient and modern property management. Schedule your 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: $729 · $61/mo
• Projected year-2 tax: $872 · $73/mo
• Expected delta: +$143/yr (+$12/mo · 19.6%)

ⓘ 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 (unshaded) · 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: $12,162
• − Mortgage interest: −$3,691
• − Property taxes: −$729
• − Insurance: −$330
• − Repairs & maintenance: −$973
• − Management: −$973
• − Depreciation: −$1,917
• Taxable income: $3,549
• Est. tax owed @ 24.0%: −$852
• After-tax cash flow: $3,551/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

-12.0% since first listed

6 events — show timeline

• 2026-05-21 Price Changed $65,900 MiRealSource-MiMLS
• 2026-05-20 Price Changed $65,900 REALCOMP
• 2026-04-25 Price Changed $69,900 MiRealSource-MiMLS
• 2026-04-24 Price Changed $69,900 REALCOMP
• 2026-04-10 Listed $74,900 REALCOMP
• 2026-04-10 Listed $74,900 MiRealSource-MiMLS

Property tax history

+2.9%/yr

Latest (2025): $729 · -15.6% YoY. Source: county tax records.