905 Fleetwood Dr · Saginaw, MI 48604

$119,900

3 bd · 1.5 ba · 864 sqft · SingleFamily public records · 31 Days on market

Built 1962 7,405 sqft lot Est $118k · at est.

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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 +27.7/30.0
• DSCR +9.8/10.0
• ARV discount +6.9/15.0
• 1% rule +6.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice Carrolton 3 bedroom ranch. Updated bathroom, new furnace, central air, and sump pump in 2020. New water heater in 2025. This home has a deck, fenced yard, large living room with wood floors, and eat-in kitchen. Don't miss this one!

Key facts

• New furnace
• Sump pump
• New water heater

Tags

• UPDATED BATHROOM
• NEW FURNACE
• CENTRAL AIR
• SUMP PUMP
• NEW WATER HEATER
• DECK

Property features AI

Finance

• Other: Lot approximately 0.17 acres (65 x 112); Residential zoning
• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One story; Brick construction
• Construction: Brick exterior; Block foundation; Built on one level
• Exterior features: Deck; Patio; Fenced yard; Public maintained road

Interior

• Kitchen: Oven; Range; Refrigerator; Gas water heater
• Bedrooms: 6 total rooms (bedroom count not specified)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas
• Interior features: High speed internet; Has basement with block and concrete construction
• Laundry & utility: No specific laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $362 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 7.8% in Saginaw — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: crime F, amenities F, commute F.
• Carrollton Public Schools (suburban): math 9% / reading 26% proficiency, ranked #485 of 540 in MI (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Carrollton Elementary School (math 8% / reading 19%, grade F, #1,200 of 1,397 statewide, top 86%, 688 students, 83% FRL); Carrollton Middle School (math 8% / reading 27%, grade F, #436 of 493 statewide, top 89%, 372 students, 81% FRL); Carrollton High School (math 15% / reading 54%, grade F, #369 of 713 statewide, top 52%, 484 students, 73% FRL).
• Market conditions: 71 active listings in the ZIP; 1 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 $829 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.13% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.94%
• DSCR: 1.58
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $118,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
634 Fleetwood Dr	0.12mi	3/2.0	888 (+3%)	8mo	$138,500	$156	81
589 Tulane St	0.30mi	2/1.0 (-1)	840 (-3%)	2mo	$108,500	$129	72
3030 Carla Dr	0.47mi	3/1.0	864 (0%)	6mo	$115,000	$133	72
3805 Ventura Dr	0.24mi	3/1.0	950 (+10%)	2mo	$166,000	$175	69
555 Pioneer Trail St	0.42mi	2/2.0 (-1)	864 (0%)	7mo	$119,000	$138	67
587 Meadowlawn St	0.45mi	3/1.0	925 (+7%)	7mo	$127,000	$137	60
534 Tulane St	0.35mi	3/1.5	960 (+11%)	8mo	$145,000	$151	59
960 Tulane St	0.19mi	3/1.0	987 (+14%)	8mo	$104,900	$106	58
580 Nylon St	0.26mi	3/1.0	960 (+11%)	12mo	$127,500	$133	57
3034 N Michigan Ave	0.70mi	2/2.0 (-1)	848 (-2%)	10mo	$105,000	$124	50
3275 Church St	0.50mi	2/1.0 (-1)	803 (-7%)	13mo	$88,500	$110	47
1580 Bel Air St	0.68mi	3/1.0	952 (+10%)	11mo	$141,000	$148	40

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: 2.8%
• Equity multiple: 1.11×
• Total profit: $3,578
• Equity at exit: $17,877

10-year hold

• IRR: 12.3%
• Equity multiple: 1.97×
• Total profit: $32,585
• Equity at exit: $10,367

Cash invested: $33,572 (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 48604

• Home prices YoY: -24.6%
• Active inventory: 71
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$26 /mo · $308/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $362

Break-even live

Break-even rent $892

Max offer price $119,900

Occupancy floor 68%

Sensitivity live

Price	-10% $430	-5% $396	+0% $362	+5% $328	+10% $294
Rent	-10% $255	-5% $309	+0% $362	+5% $415	+10% $469
Rate	-1.0pp $422	-0.5pp $393	base $362	+0.5pp $331	+1.0pp $299

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4070 Green Isle Way Saginaw, MI	1.0–3.0	1.0–1.5	950	$1,350	$1.42	45d	15	0.72mi

Listing history 4 events

1. 2026-05-21
   status Pending

   Show marketing remark (236 chars)

   Nice Carrolton 3 bedroom ranch. Updated bathroom, new furnace, central air, and sump pump in 2020. New water heater in 2025. This home has a deck, fenced yard, large living room with wood floors, and eat-in kitchen. Don't miss this one!

2. 2026-05-21
   status Pending 236-char remark

   Show marketing remark (236 chars)

   Nice Carrolton 3 bedroom ranch. Updated bathroom, new furnace, central air, and sump pump in 2020. New water heater in 2025. This home has a deck, fenced yard, large living room with wood floors, and eat-in kitchen. Don't miss this one!

3. 2026-04-20
   listed $119,900 Active

   Show marketing remark (236 chars)

   Nice Carrolton 3 bedroom ranch. Updated bathroom, new furnace, central air, and sump pump in 2020. New water heater in 2025. This home has a deck, fenced yard, large living room with wood floors, and eat-in kitchen. Don't miss this one!

4. 2026-04-20
   listed $119,900 Active 236-char remark

   Show marketing remark (236 chars)

   Nice Carrolton 3 bedroom ranch. Updated bathroom, new furnace, central air, and sump pump in 2020. New water heater in 2025. This home has a deck, fenced yard, large living room with wood floors, and eat-in kitchen. Don't miss this one!

ⓘ 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: $308 · $26/mo
• Projected year-2 tax: $1,077 · $90/mo
• Expected delta: +$769/yr (+$64/mo · 249.8%)

ⓘ 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,200
• − Mortgage interest: −$6,716
• − Property taxes: −$308
• − Insurance: −$600
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$3,488
• Taxable income: $2,496
• Est. tax owed @ 24.0%: −$599
• After-tax cash flow: $3,746/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: Carrollton Public Schools
• NCES district ID: 2608070
• Math proficiency: 9% ▼ -6.00%
• Reading proficiency: 26% ▼ -8.00%
• Median HH income: $39,147
• Composite: 14.74/100
• National rank: #9395
• State rank: #485 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

• City population: 54,884
• Population (ZIP): 11,284

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 8% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 10% Lithuanian 6% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Arabic 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: ▼ -68.55%
• Current HPI: 210.5278
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-21 Pending — REALCOMP
• 2026-05-21 Pending — MiRealSource-MiMLS
• 2026-04-20 Listed $119,900 MiRealSource-MiMLS
• 2026-04-20 Listed $119,900 REALCOMP

Property tax history

-10.9%/yr

Latest (2025): $308 · -81.0% YoY. Source: county tax records.