2333 Benjamin St · Saginaw, MI 48602

$81,777

6 bd · 2.0 ba · 1,583 sqft · SingleFamily public records · 107 Days on market

Built 1914 6,098 sqft lot Est $104k · 22% under ↓ 9% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

An updated Upper/Lower duplex. Both Units update both have original wood floors. Large Rooms in lower unit. 1 bedroom 1 bath lower unit. 2 bedroom 1 bath upper unit. Storage space in the basement for each unit as well as laundry. This property does have tenants we will need to give 24hrs notice to them prior to showing. Also we will need proof of funds prior to scheduling showing as well.

Key facts

• 6,098 sq ft lot
• Built 1914
• Listed 106 days

Property features AI

Finance

• Other: Lot approximately 0.14 acres (51 x 120); Zoned residential
• Financial info: No investor or detailed income/expense data provided
• HOA & community: Pets allowed (dogs OK)

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Circuit breaker electrical service; Water available; Public sewer
• Home design: Multi-family residential property; Two levels; Located in the UNION PARK subdivision; Facing direction not specified
• Construction: Built with other construction materials; Block foundation; Asphalt roof
• Exterior features: Paved road access; No pool

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: One 1-bedroom unit
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms; Two half bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Gas water heater; Full unfinished basement
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Recommended offer: $74k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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: Rents rising (+4.0%/yr); 250 active listings in the ZIP; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $566 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 $23k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,417 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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: 1.61% ✓
• Cap rate: 12.86%
• Cash-on-cash: 23.46%
• DSCR: 2.04
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $104,478
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2419 Barnard St	0.49mi	5/1.5 (-1)	1,644 (+4%)	2mo	$160,000	$97	62
2720 Pine St	0.61mi	5/1.0 (-1)	1,592 (+1%)	15mo	$105,000	$66	49
1803 N Oakley St	0.43mi	5/1.0 (-1)	1,386 (-12%)	17mo	$87,500	$63	36

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: 17.7%
• Equity multiple: 1.73×
• Total profit: $16,603
• Equity at exit: $12,193

10-year hold

• IRR: 26.9%
• Equity multiple: 3.48×
• Total profit: $56,806
• Equity at exit: $7,071

Cash invested: $22,898 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,318 medium
• Mortgage (P&I): −$429
• Tax from tax record: −$130 /mo · $1,565/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $448

Break-even live

Break-even rent $751

Max offer price $81,777

Occupancy floor 61%

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: $20,444
• Closing costs: $2,453
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $81,777 Active 107 DOM
2. 2026-06-18
   days on market $81,777 Active 106 DOM
3. 2026-06-17
   days on market $81,777 Active 105 DOM
4. 2026-06-16
   days on market $81,777 Active 104 DOM
5. 2026-06-15
   days on market $81,777 Active 103 DOM
6. 2026-06-14
   days on market $81,777 Active 101 DOM
7. 2026-06-12
   days on market $81,777 Active 100 DOM
8. 2026-06-09
   days on market $81,777 Active 97 DOM
9. 2026-06-08
   days on market $81,777 Active 96 DOM
10. 2026-06-07
    days on market $81,777 Active 95 DOM
11. 2026-06-05
    days on market $81,777 Active 92 DOM
12. 2026-06-03
    days on market $81,777 Active 91 DOM
13. 2026-06-02
    days on market $81,777 Active 90 DOM
14. 2026-06-01
    days on market $81,777 Active 89 DOM
15. 2026-05-31
    days on market $81,777 Active 88 DOM
16. 2026-05-30
    days on market $81,777 Active 87 DOM
17. 2026-05-21
    price $81,777 391-char remark

    Show marketing remark (391 chars)

    An updated Upper/Lower duplex. Both Units update both have original wood floors. Large Rooms in lower unit. 1 bedroom 1 bath lower unit. 2 bedroom 1 bath upper unit. Storage space in the basement for each unit as well as laundry. This property does have tenants we will need to give 24hrs notice to them prior to showing. Also we will need proof of funds prior to scheduling showing as well.

18. 2026-05-21
    price $81,777

    Show marketing remark (391 chars)

    An updated Upper/Lower duplex. Both Units update both have original wood floors. Large Rooms in lower unit. 1 bedroom 1 bath lower unit. 2 bedroom 1 bath upper unit. Storage space in the basement for each unit as well as laundry. This property does have tenants we will need to give 24hrs notice to them prior to showing. Also we will need proof of funds prior to scheduling showing as well.

19. 2026-05-07
    price $83,111 391-char remark

    Show marketing remark (391 chars)

    An updated Upper/Lower duplex. Both Units update both have original wood floors. Large Rooms in lower unit. 1 bedroom 1 bath lower unit. 2 bedroom 1 bath upper unit. Storage space in the basement for each unit as well as laundry. This property does have tenants we will need to give 24hrs notice to them prior to showing. Also we will need proof of funds prior to scheduling showing as well.

20. 2026-05-06
    price $83,111
21. 2026-04-22
    price $87,777 391-char remark

    Show marketing remark (391 chars)

    An updated Upper/Lower duplex. Both Units update both have original wood floors. Large Rooms in lower unit. 1 bedroom 1 bath lower unit. 2 bedroom 1 bath upper unit. Storage space in the basement for each unit as well as laundry. This property does have tenants we will need to give 24hrs notice to them prior to showing. Also we will need proof of funds prior to scheduling showing as well.

22. 2026-04-21
    price $87,777
23. 2026-03-05
    listed $89,900 Active 391-char remark

    Show marketing remark (391 chars)

    An updated Upper/Lower duplex. Both Units update both have original wood floors. Large Rooms in lower unit. 1 bedroom 1 bath lower unit. 2 bedroom 1 bath upper unit. Storage space in the basement for each unit as well as laundry. This property does have tenants we will need to give 24hrs notice to them prior to showing. Also we will need proof of funds prior to scheduling showing as well.

24. 2026-03-05
    listed $89,900 Active

    Show marketing remark (391 chars)

    An updated Upper/Lower duplex. Both Units update both have original wood floors. Large Rooms in lower unit. 1 bedroom 1 bath lower unit. 2 bedroom 1 bath upper unit. Storage space in the basement for each unit as well as laundry. This property does have tenants we will need to give 24hrs notice to them prior to showing. Also we will need proof of funds prior to scheduling showing as well.

25. 2026-03-03
    historical $89,900 391-char remark

    Show marketing remark (391 chars)

    An updated Upper/Lower duplex. Both Units update both have original wood floors. Large Rooms in lower unit. 1 bedroom 1 bath lower unit. 2 bedroom 1 bath upper unit. Storage space in the basement for each unit as well as laundry. This property does have tenants we will need to give 24hrs notice to them prior to showing. Also we will need proof of funds prior to scheduling showing as well.

ⓘ 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: $1,565 · $130/mo
• Projected year-2 tax: $1,565 · $130/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: $15,812
• − Mortgage interest: −$4,581
• − Property taxes: −$1,565
• − Insurance: −$409
• − Repairs & maintenance: −$1,265
• − Management: −$1,265
• − Depreciation: −$2,379
• Taxable income: $4,348
• Est. tax owed @ 24.0%: −$1,043
• After-tax cash flow: $4,327/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

-9.0% since first listed

9 events — show timeline

• 2026-05-21 Price Changed $81,777 MiRealSource-MiMLS
• 2026-05-21 Price Changed $81,777 REALCOMP
• 2026-05-07 Price Changed $83,111 MiRealSource-MiMLS
• 2026-05-06 Price Changed $83,111 REALCOMP
• 2026-04-22 Price Changed $87,777 MiRealSource-MiMLS
• 2026-04-21 Price Changed $87,777 REALCOMP
• 2026-03-05 Listed $89,900 MiRealSource-MiMLS
• 2026-03-05 Listed $89,900 REALCOMP
• 2026-03-03 Coming Soon $89,900 MiRealSource-MiMLS

Property tax history

+6.0%/yr

Latest (2025): $1,565 · -16.3% YoY. Source: county tax records.