1902 Cheney Rd · Buena Vista, MI 48601

$65,500

2 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 134 Days on market

Built 1956 9,583 sqft lot Est $79k · 17% under ↓ 27% 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.1/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2-bedroom, 1-bath home with a bonus room sits on a spacious, well-kept corner lot surrounded by mature trees an open green space. Its classic white exterior, inviting front porch and neat landscaping create timeless curb appeal. Inside, the layout feels bright and cozy, featuring two comfortable bedrooms, a full bath, and a flexible bonus room perfect for an office or a guest space. . Outside, a detached garage and wide driveway offer ample parking and storage, while the large yard provides room for gardening, pets, or outdoor entertaining. Nestled on a quiet, low-traffic street in a peaceful neighborhood, this home offers privacy, simplicity, and charm==the perfect blend of comfort and space to make your own.

Key facts

• Neat landscaping
• Front porch
• Open green space

Tags

• CORNER LOT
• MATURE TREES
• OPEN GREEN SPACE
• FRONT PORCH
• NEAT LANDSCAPING
• FLEXIBLE BONUS ROOM

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 $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($922 rent vs $66k).
• Recommended offer: $58k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#615 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, schools F, crime F.
• Bridgeport-Spaulding Community School District (suburban): math 7% / reading 17% proficiency, ranked #513 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 201 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $453 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 134 days — a 12% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $24k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 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 1956 — 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: 1.41% ✓
• Cap rate: 12.32%
• Cash-on-cash: 21.52%
• DSCR: 1.96
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $79,152
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2500 Oregon Ave	0.49mi	2/1.0	1,192 (+2%)	6mo	$105,000	$88	68
2454 Bellevue St	0.38mi	3/1.0 (+1)	1,156 (-1%)	11mo	$69,900	$60	67
2294 Montana Ave	0.52mi	2/2.0	1,181 (+2%)	22mo	$40,000	$34	51
2631 Tatham Rd	0.51mi	3/1.0 (+1)	1,068 (-8%)	8mo	$62,100	$58	50
2108 California Ave	0.44mi	3/1.0 (+1)	1,014 (-13%)	7mo	$48,000	$47	47
2488 Montana Ave	0.57mi	2/1.0	1,028 (-12%)	10mo	$23,500	$23	45
3015 Fairview St	0.53mi	3/1.0 (+1)	1,032 (-11%)	10mo	$70,000	$68	43
2285 Nebraska Ave	0.54mi	3/1.0 (+1)	1,008 (-13%)	11mo	$101,000	$100	38
3519 Hidden Ln	0.58mi	3/1.0 (+1)	1,008 (-13%)	13mo	$95,000	$94	35
2441 Indiana Ave	0.72mi	3/1.0 (+1)	1,024 (-12%)	8mo	$113,197	$111	35
2350 Iowa Ave	0.66mi	3/2.0 (+1)	1,323 (+14%)	10mo	$106,000	$80	30
2046 Iowa Ave	0.65mi	3/1.0 (+1)	1,014 (-13%)	17mo	$60,000	$59	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: 14.1%
• Equity multiple: 1.56×
• Total profit: $10,310
• Equity at exit: $9,766

10-year hold

• IRR: 22.8%
• Equity multiple: 2.96×
• Total profit: $35,869
• Equity at exit: $5,663

Cash invested: $18,340 (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: 201
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $922 high
• Mortgage (P&I): −$343
• Tax from tax record: −$29 /mo · $343/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $329

Break-even live

Break-even rent $506

Max offer price $65,500

Occupancy floor 59%

Sensitivity live

Price	-10% $366	-5% $347	+0% $329	+5% $310	+10% $292
Rent	-10% $256	-5% $292	+0% $329	+5% $365	+10% $402
Rate	-1.0pp $362	-0.5pp $345	base $329	+0.5pp $312	+1.0pp $295

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: $16,375
• Closing costs: $1,965
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2554 Apollo Dr Unit AP2554 Saginaw, MI	3.0	2.0	960	$883	$0.92	44d	1	0.27mi
2564 Apollo Dr Unit AP2564 Saginaw, MI	3.0	2.0	960	$883	$0.92	44d	1	0.28mi
2620 Gemini St Unit GE2620 Saginaw, MI	3.0	2.0	1140	$920	$0.81	44d	1	0.34mi
2800 Gemini St Unit GE2800 Saginaw, MI	3.0	2.0	960	$920	$0.96	44d	1	0.52mi
3328 Webber St Saginaw, MI	3.0	1.0	878	$1,250	$1.42	44d	1	1.03mi

Listing history 13 events

1. 2026-04-22
   soldstatus $65,000
2. 2026-03-25
   status Pending

   Show marketing remark (734 chars)

   This charming 2-bedroom, 1-bath home with a bonus room sits on a spacious, well-kept corner lot surrounded by mature trees an open green space. Its classic white exterior, inviting front porch and neat landscaping create timeless curb appeal. Inside, the layout feels bright and cozy, featuring two comfortable bedrooms, a full bath, and a flexible bonus room perfect for an office or a guest space. . Outside, a detached garage and wide driveway offer ample parking and storage, while the large yard provides room for gardening, pets, or outdoor entertaining. Nestled on a quiet, low-traffic street in a peaceful neighborhood, this home offers privacy, simplicity, and charm==the perfect blend of comfort and space to make your own.

3. 2026-03-25
   status Pending 734-char remark

   Show marketing remark (734 chars)

   This charming 2-bedroom, 1-bath home with a bonus room sits on a spacious, well-kept corner lot surrounded by mature trees an open green space. Its classic white exterior, inviting front porch and neat landscaping create timeless curb appeal. Inside, the layout feels bright and cozy, featuring two comfortable bedrooms, a full bath, and a flexible bonus room perfect for an office or a guest space. . Outside, a detached garage and wide driveway offer ample parking and storage, while the large yard provides room for gardening, pets, or outdoor entertaining. Nestled on a quiet, low-traffic street in a peaceful neighborhood, this home offers privacy, simplicity, and charm==the perfect blend of comfort and space to make your own.

4. 2026-01-27
   price $65,500 734-char remark

   Show marketing remark (734 chars)

   This charming 2-bedroom, 1-bath home with a bonus room sits on a spacious, well-kept corner lot surrounded by mature trees an open green space. Its classic white exterior, inviting front porch and neat landscaping create timeless curb appeal. Inside, the layout feels bright and cozy, featuring two comfortable bedrooms, a full bath, and a flexible bonus room perfect for an office or a guest space. . Outside, a detached garage and wide driveway offer ample parking and storage, while the large yard provides room for gardening, pets, or outdoor entertaining. Nestled on a quiet, low-traffic street in a peaceful neighborhood, this home offers privacy, simplicity, and charm==the perfect blend of comfort and space to make your own.

5. 2026-01-27
   price $65,500

   Show marketing remark (734 chars)

   This charming 2-bedroom, 1-bath home with a bonus room sits on a spacious, well-kept corner lot surrounded by mature trees an open green space. Its classic white exterior, inviting front porch and neat landscaping create timeless curb appeal. Inside, the layout feels bright and cozy, featuring two comfortable bedrooms, a full bath, and a flexible bonus room perfect for an office or a guest space. . Outside, a detached garage and wide driveway offer ample parking and storage, while the large yard provides room for gardening, pets, or outdoor entertaining. Nestled on a quiet, low-traffic street in a peaceful neighborhood, this home offers privacy, simplicity, and charm==the perfect blend of comfort and space to make your own.

6. 2026-01-06
   status Active
7. 2026-01-05
   historical
8. 2025-12-19
   price $72,500 734-char remark

   Show marketing remark (734 chars)

   This charming 2-bedroom, 1-bath home with a bonus room sits on a spacious, well-kept corner lot surrounded by mature trees an open green space. Its classic white exterior, inviting front porch and neat landscaping create timeless curb appeal. Inside, the layout feels bright and cozy, featuring two comfortable bedrooms, a full bath, and a flexible bonus room perfect for an office or a guest space. . Outside, a detached garage and wide driveway offer ample parking and storage, while the large yard provides room for gardening, pets, or outdoor entertaining. Nestled on a quiet, low-traffic street in a peaceful neighborhood, this home offers privacy, simplicity, and charm==the perfect blend of comfort and space to make your own.

9. 2025-12-19
   price $72,500

   Show marketing remark (734 chars)

   This charming 2-bedroom, 1-bath home with a bonus room sits on a spacious, well-kept corner lot surrounded by mature trees an open green space. Its classic white exterior, inviting front porch and neat landscaping create timeless curb appeal. Inside, the layout feels bright and cozy, featuring two comfortable bedrooms, a full bath, and a flexible bonus room perfect for an office or a guest space. . Outside, a detached garage and wide driveway offer ample parking and storage, while the large yard provides room for gardening, pets, or outdoor entertaining. Nestled on a quiet, low-traffic street in a peaceful neighborhood, this home offers privacy, simplicity, and charm==the perfect blend of comfort and space to make your own.

10. 2025-11-25
    price $79,500 734-char remark

    Show marketing remark (734 chars)

    This charming 2-bedroom, 1-bath home with a bonus room sits on a spacious, well-kept corner lot surrounded by mature trees an open green space. Its classic white exterior, inviting front porch and neat landscaping create timeless curb appeal. Inside, the layout feels bright and cozy, featuring two comfortable bedrooms, a full bath, and a flexible bonus room perfect for an office or a guest space. . Outside, a detached garage and wide driveway offer ample parking and storage, while the large yard provides room for gardening, pets, or outdoor entertaining. Nestled on a quiet, low-traffic street in a peaceful neighborhood, this home offers privacy, simplicity, and charm==the perfect blend of comfort and space to make your own.

11. 2025-11-24
    price $79,500
12. 2025-11-10
    listed $89,500 Active

    Show marketing remark (734 chars)

    This charming 2-bedroom, 1-bath home with a bonus room sits on a spacious, well-kept corner lot surrounded by mature trees an open green space. Its classic white exterior, inviting front porch and neat landscaping create timeless curb appeal. Inside, the layout feels bright and cozy, featuring two comfortable bedrooms, a full bath, and a flexible bonus room perfect for an office or a guest space. . Outside, a detached garage and wide driveway offer ample parking and storage, while the large yard provides room for gardening, pets, or outdoor entertaining. Nestled on a quiet, low-traffic street in a peaceful neighborhood, this home offers privacy, simplicity, and charm==the perfect blend of comfort and space to make your own.

13. 2025-11-10
    listed $89,500 Active 734-char remark

    Show marketing remark (734 chars)

    This charming 2-bedroom, 1-bath home with a bonus room sits on a spacious, well-kept corner lot surrounded by mature trees an open green space. Its classic white exterior, inviting front porch and neat landscaping create timeless curb appeal. Inside, the layout feels bright and cozy, featuring two comfortable bedrooms, a full bath, and a flexible bonus room perfect for an office or a guest space. . Outside, a detached garage and wide driveway offer ample parking and storage, while the large yard provides room for gardening, pets, or outdoor entertaining. Nestled on a quiet, low-traffic street in a peaceful neighborhood, this home offers privacy, simplicity, and charm==the perfect blend of comfort and space to make your own.

ⓘ 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: $343 · $29/mo
• Projected year-2 tax: $676 · $56/mo
• Expected delta: +$333/yr (+$28/mo · 96.9%)

ⓘ 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 ≥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: $11,061
• − Mortgage interest: −$3,669
• − Property taxes: −$343
• − Insurance: −$328
• − Repairs & maintenance: −$885
• − Management: −$885
• − Depreciation: −$1,905
• Taxable income: $3,046
• Est. tax owed @ 24.0%: −$731
• After-tax cash flow: $3,215/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: Bridgeport-Spaulding Community School District
• NCES district ID: 2606780
• Math proficiency: 7% ▼ -4.00%
• Reading proficiency: 17% ▼ -5.00%
• Median HH income: $38,403
• Composite: 10.13/100
• National rank: #9800
• State rank: #513 of 540 in MI

Livability — Buena Vista

• Score: 59/100
• State rank: #615
• US rank: #20603

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing B+ Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buena Vista, MI
• City population: 32,069
• 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

-27.4% since first listed

13 events — show timeline

• 2026-04-22 Sold (Public Records) $65,000 Public Records
• 2026-03-25 Pending — REALCOMP
• 2026-03-25 Pending — MiRealSource-MiMLS
• 2026-01-27 Price Changed $65,500 MiRealSource-MiMLS
• 2026-01-27 Price Changed $65,500 REALCOMP
• 2026-01-06 Relisted — REALCOMP
• 2026-01-05 Listing Removed — REALCOMP
• 2025-12-19 Price Changed $72,500 MiRealSource-MiMLS
• 2025-12-19 Price Changed $72,500 REALCOMP
• 2025-11-25 Price Changed $79,500 MiRealSource-MiMLS
• 2025-11-24 Price Changed $79,500 REALCOMP
• 2025-11-10 Listed $89,500 REALCOMP
• 2025-11-10 Listed $89,500 MiRealSource-MiMLS

Property tax history

-7.6%/yr

Latest (2025): $343 · -68.1% YoY. Source: county tax records.