4566 Shattuck Rd #4568 · Saginaw, MI 48603

$254,000

6 bd · 4.0 ba · 1,962 sqft · MultiFamily · 14 Days on market

Built 1976 Good condition 0.37 ac lot

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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 +24.8/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Rent growth +4.4/5.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Schools +3.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Searching for duplexes in Saginaw Township is no easy task. .. once they appear on the market, they quickly vanish! Well here's your chance- this wonderfully-updated duplex is now available, so act quickly! Unit #1, currently occupied, has a spacious living room & kitchen, 2 bedrooms, full bath, basement & large deck. Unit #2 is vacant and features a spacious living room, family room with fireplace (which was originally the 2nd bedroom & could be converted back), nice bedroom with great closet space, updated kitchen & bath, partially finished basement with spacious rec room or office space, & private patio. You'll also find a new furnace, flooring, light fixture

Key facts

• New furnace
• New landscaping
• Updated duplex

Tags

• UPDATED DUPLEX
• SPACIOUS LIVING ROOM
• UPDATED KITCHEN
• PRIVATE PATIO
• NEW FURNACE
• NEW LANDSCAPING

Property features AI

Finance

• Financial info: Two-unit property; Unit 1 is occupied and rents for $875

Exterior

• Parking: Attached garage with electric and garage door opener (2 parking spaces)
• Utilities: Public water; Public sanitary sewer; Natural gas; Separate heat, water, electric, and gas for units
• Home design: Multi-family property; Single-story structure; Built in 1976
• Construction: Brick and vinyl siding construction; Basement foundation; Year built: 1976
• Exterior features: Brick and vinyl siding exterior; Basement foundation

Interior

• Kitchen: Dishwasher; Disposal; Range/Oven; Refrigerator; Unit 1 kitchen on the first floor; Unit 2 kitchen on the first floor (14 x 12)
• Bedrooms: Unit 1: Bedrooms on the first floor; Unit 2: Primary bedroom on the first floor (13 x 12)
• Bathrooms: Two full bathrooms total; First-floor half bath/lavatory
• Heating & cooling: Forced air heating; Ceiling fan(s) for cooling; Natural gas fuel
• Interior features: Fireplace in family room (wood-burning); Partially finished basement
• Laundry & utility: Basement present (partially finished)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $254k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive. Per door: $269/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $254k).

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 Township Community Schools (suburban): math 27% / reading 45% proficiency, ranked #265 of 540 in MI (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+7.7%/yr); 156 active listings in the ZIP; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).
• At $2,904/mo this rent would consume 53% of the median local household income ($66k/yr) (locally 1106% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 + 7.7% rent growth), your $71k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $254,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.14% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.71% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.11×
• Total profit: $7,618
• Equity at exit: $37,872

10-year hold

• IRR: 16.3%
• Equity multiple: 2.63×
• Total profit: $116,213
• Equity at exit: $21,961

Cash invested: $71,120 (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 48603

• Rents YoY: 7.7%
• Active inventory: 156
• Price-to-rent: 14.6×

Monthly cashflow live

• Estimated rent: $2,904 medium
• Mortgage (P&I): −$1,332
• Tax est. 1.5%: −$318 /mo · $3,810/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$610
• Net cashflow: $539

Break-even live

Break-even rent $2,222

Max offer price $254,000

Occupancy floor 76%

Sensitivity live

Price	-10% $714	-5% $627	+0% $539	+5% $451	+10% $363
Rent	-10% $309	-5% $424	+0% $539	+5% $654	+10% $768
Rate	-1.0pp $667	-0.5pp $603	base $539	+0.5pp $473	+1.0pp $406

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,904
Total (2 units)			$2,904

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: $63,500
• Closing costs: $7,620
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   status $254,000 Pending 14 DOM
2. 2026-06-18
   days on market $254,000 Active 14 DOM
3. 2026-06-17
   days on market $254,000 Active 13 DOM
4. 2026-06-16
   days on market $254,000 Active 12 DOM
5. 2026-06-15
   days on market $254,000 Active 11 DOM
6. 2026-06-14
   days on market $254,000 Active 9 DOM
7. 2026-06-12
   days on market $254,000 Active 8 DOM
8. 2026-06-09
   days on market $254,000 Active 5 DOM
9. 2026-06-08
   days on market $254,000 Active 4 DOM
10. 2026-06-07
    remarks 679-char remark
11. 2026-06-07
    listed $254,000 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $34,848
• − Mortgage interest: −$14,228
• − Property taxes: −$3,810
• − Insurance: −$1,270
• − Repairs & maintenance: −$2,788
• − Management: −$2,788
• − Depreciation: −$7,389
• Taxable income: $2,575
• Est. tax owed @ 24.0%: −$618
• After-tax cash flow: $5,848/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated duplex is in good condition with no major repairs needed. Painting and updating the flooring can further enhance its resale and rental value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Updating the flooring in the living areas — New flooring can improve the overall look and feel of the living spaces, making the property more appealing to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Updating the flooring in the living areas — New flooring can improve the overall look and feel of the living spaces, making the property more appealing to potential buyers and renters. ↑

ⓘ 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: Saginaw Township Community Schools
• NCES district ID: 2630450
• Math proficiency: 27% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $48,971
• Composite: 31.01/100
• National rank: #6094
• State rank: #265 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

• County: Saginaw County · 54,884 people
• City population: 54,884
• Metro: Saginaw, MI
• Population (ZIP): 27,757
• Household income: $66,352
• Rent vs Own: 33.1% rent · 66.9% own
• Severe rent burden: 1106.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Black 12% Hispanic / Latino 10% Asian 5% Two or more races 5%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 8% Lithuanian 7% Slovak 3%
• Foreign-born: 6% · Canada, China
• Languages at home: 93% English-only · Other Indo-European 3% Spanish 2% Other Asian/Pacific 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: ▼ -103.35%
• Current HPI: 152.7507
• Rent YoY: ▲ 7.71%
• 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

1 event — show timeline

• 2026-06-04 Listed $254,000 MiRealSource-MiMLS