406 S Woodbridge St · Saginaw, MI 48602

$80,000

3 bd · 1.5 ba · 1,638 sqft · SingleFamily public records · 1 Days on market

Built 1899 6,000 sqft lot Est $123k · 35% under

---

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 +9.5/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SINGLE FAMILY HOME OFFERED AS PART OF A LARGER PORTFOLIO.

Key facts

• 6,000 sq ft lot
• Built 1899

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $313 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 11.0% vs local median 8.2% 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: Rents rising (+4.0%/yr); 250 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 $553 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 + 4.0% rent growth), your $22k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 18 sale attempts since 27y 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 $14k; list at $80k implies a 471% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

Questions for the listing agent

1. Built in 1899 — 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: 1.45% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.78%
• DSCR: 1.75
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $122,850
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1907 Adams Blvd	0.34mi	3/2.0	1,654 (+1%)	3mo	$130,000	$79	78
407 S Oakley St	0.09mi	3/1.0	1,495 (-9%)	4mo	$58,000	$39	76
1403 Cypress St	0.31mi	4/2.0 (+1)	1,603 (-2%)	2mo	$63,000	$39	73
203 N Webster St	0.45mi	3/2.0	1,607 (-2%)	4mo	$115,000	$72	71
267 Lockwood St	0.49mi	3/1.5	1,553 (-5%)	2mo	$116,000	$75	67
613 Williams St	0.47mi	3/1.0	1,526 (-7%)	2mo	$40,000	$26	63
1032 Sutton St	0.63mi	4/2.0 (+1)	1,660 (+1%)	3mo	$125,000	$75	59
278 Wylie St	0.40mi	3/1.5	1,411 (-14%)	4mo	$148,000	$105	55
266 Lockwood St	0.46mi	3/2.0	1,436 (-12%)	3mo	$150,000	$104	54
735 Malzahn St	0.73mi	3/1.0	1,550 (-5%)	4mo	$95,500	$62	52
1424 Acacia St	0.36mi	2/1.0 (-1)	1,416 (-14%)	3mo	$66,500	$47	51
1407 Bay St	0.56mi	4/1.5 (+1)	1,464 (-11%)	2mo	$142,900	$98	49

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 · 3.98% rent growth · sell at horizon

5-year hold

• IRR: 9.2%
• Equity multiple: 1.37×
• Total profit: $8,183
• Equity at exit: $11,928

10-year hold

• IRR: 19.2%
• Equity multiple: 2.69×
• Total profit: $37,830
• Equity at exit: $6,917

Cash invested: $22,400 (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 48602

• Home prices YoY: -19.7%
• Rents YoY: 4.0%
• Active inventory: 250
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,158 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$149 /mo · $1,786/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $313

Break-even live

Break-even rent $762

Max offer price $80,000

Occupancy floor 68%

Sensitivity live

Price	-10% $358	-5% $336	+0% $313	+5% $291	+10% $268
Rent	-10% $222	-5% $267	+0% $313	+5% $359	+10% $405
Rate	-1.0pp $353	-0.5pp $334	base $313	+0.5pp $292	+1.0pp $271

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-03-15
   status Pending

   Show marketing remark (57 chars)

   SINGLE FAMILY HOME OFFERED AS PART OF A LARGER PORTFOLIO.

2. 2026-03-15
   status Pending 57-char remark

   Show marketing remark (57 chars)

   SINGLE FAMILY HOME OFFERED AS PART OF A LARGER PORTFOLIO.

3. 2026-03-14
   listed $80,000 Active

   Show marketing remark (57 chars)

   SINGLE FAMILY HOME OFFERED AS PART OF A LARGER PORTFOLIO.

4. 2026-03-14
   listed $80,000 Active 57-char remark

   Show marketing remark (57 chars)

   SINGLE FAMILY HOME OFFERED AS PART OF A LARGER PORTFOLIO.

5. 2018-04-25
   historical
6. 2014-10-16
   historical
7. 2014-10-16
   historical
8. 2014-05-16
   listed $11,900
9. 2014-05-16
   listed $11,900
10. 2011-12-16
    historical
11. 2007-09-24
    listed $19,900
12. 2007-07-31
    soldstatus $14,000
13. 2007-07-31
    soldstatus $14,000
14. 2007-07-31
    soldstatus $14,000
15. 2007-06-04
    historical
16. 2007-01-29
    listed $19,900
17. 2007-01-26
    listed $19,900
18. 2007-01-26
    listed $19,900
19. 2002-12-03
    soldstatus $72,500
20. 2002-10-03
    soldstatus $72,500
21. 2002-10-03
    soldstatus $72,500
22. 2002-08-09
    listed $69,900
23. 2002-08-09
    listed $69,900
24. 2002-07-01
    historical
25. 2002-04-01
    listed $69,900
26. 2002-04-01
    listed $69,900
27. 2002-01-26
    historical
28. 2001-10-26
    listed $69,900
29. 2001-10-26
    listed $69,900
30. 2001-06-28
    soldstatus $34,700
31. 2001-06-28
    soldstatus $34,700
32. 2001-05-07
    listed $35,000
33. 2001-05-07
    listed $35,000
34. 2000-03-13
    historical
35. 2000-03-13
    historical
36. 1999-09-13
    listed $29,900
37. 1999-09-13
    listed $29,900

ⓘ 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: $1,786 · $149/mo
• Projected year-2 tax: $1,786 · $149/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $13,897
• − Mortgage interest: −$4,481
• − Property taxes: −$1,786
• − Insurance: −$400
• − Repairs & maintenance: −$1,112
• − Management: −$1,112
• − Depreciation: −$2,327
• Taxable income: $2,679
• Est. tax owed @ 24.0%: −$643
• After-tax cash flow: $3,115/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
• County: Saginaw County · 54,884 people
• City population: 54,884
• Metro: Saginaw, MI
• Population (ZIP): 27,127
• Household income: $46,984
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1416.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 50% Black 27% Hispanic / Latino 17% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -39.15%
• Current HPI: 159.8807
• Rent YoY: ▲ 3.98%
• 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

+167.6% since first listed

37 events — show timeline

• 2026-03-15 Pending — REALCOMP
• 2026-03-15 Pending — MiRealSource-MiMLS
• 2026-03-14 Listed $80,000 MiRealSource-MiMLS
• 2026-03-14 Listed $80,000 REALCOMP
• 2018-04-25 Listing Removed — MiRealSource-MiMLS
• 2014-10-16 Listing Removed — MiRealSource-MiMLS
• 2014-10-16 Listing Removed — REALCOMP
• 2014-05-16 Listed $11,900 MiRealSource-MiMLS
• 2014-05-16 Listed $11,900 REALCOMP
• 2011-12-16 Listing Removed — MiRealSource-MiMLS
• 2007-09-24 Listed $19,900 MiRealSource-MiMLS
• 2007-07-31 Sold (MLS) $14,000 REALCOMP
• 2007-07-31 Sold (MLS) $14,000 MiRealSource-MiMLS
• 2007-07-31 Sold (MLS) $14,000 MiRealSource-MiMLS
• 2007-06-04 Listing Removed — MiRealSource-MiMLS
• 2007-01-29 Listed $19,900 MiRealSource-MiMLS
• 2007-01-26 Listed $19,900 REALCOMP
• 2007-01-26 Listed $19,900 MiRealSource-MiMLS
• 2002-12-03 Sold (Public Records) $72,500 Public Records
• 2002-10-03 Sold (MLS) $72,500 REALCOMP
• 2002-10-03 Sold (MLS) $72,500 MiRealSource-MiMLS
• 2002-08-09 Listed $69,900 REALCOMP
• 2002-08-09 Listed $69,900 MiRealSource-MiMLS
• 2002-07-01 Listing Removed — MiRealSource-MiMLS
• 2002-04-01 Listed $69,900 REALCOMP
• 2002-04-01 Listed $69,900 MiRealSource-MiMLS
• 2002-01-26 Listing Removed — MiRealSource-MiMLS
• 2001-10-26 Listed $69,900 REALCOMP
• 2001-10-26 Listed $69,900 MiRealSource-MiMLS
• 2001-06-28 Sold (MLS) $34,700 MiRealSource-MiMLS
• 2001-06-28 Sold (MLS) $34,700 REALCOMP
• 2001-05-07 Listed $35,000 MiRealSource-MiMLS
• 2001-05-07 Listed $35,000 REALCOMP
• 2000-03-13 Listing Removed — MiRealSource-MiMLS
• 2000-03-13 Listing Removed — REALCOMP
• 1999-09-13 Listed $29,900 MiRealSource-MiMLS
• 1999-09-13 Listed $29,900 REALCOMP

Property tax history

+3.8%/yr

Latest (2025): $1,786 · -27.1% YoY. Source: county tax records.