704 Vermont St · Saginaw, MI 48602

$15,000

4 bd · 1.5 ba · 1,696 sqft · SingleFamily public records · 57 Days on market

Built 1916 7,405 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Fire-damaged 4-bedroom home with approximately 1,700 sq ft ready for full rehab. Great opportunity for investors, flippers, or contractors looking to restore value. Property requires significant repairs and is being sold as-is with no seller repairs. Spacious layout has strong potential for renovation and resale or rental income. Bring your vision and make this property shine again.

Key facts

• 7,405 sq ft lot
• Built 1916
• Listed 56 days

Property features AI

Finance

• HOA & community: Grounds maintenance provided

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One-story; Ground-level entry
• Construction: Aluminum siding; Vinyl siding; Slab foundation
• Exterior features: Level lot; Paved road access; Pets allowed

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Fireplace; Other interior features

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $15k.

Deal economics

• At list price, monthly cash flow is $874 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $15k).
• Recommended offer: $15k (3.0% below list) — sets the bar for market timing.
• Cap rate 76.2% 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 32% 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 $104 of loan paydown is wiped out by about $450 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($15k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago; this cycle's ask has dropped $4k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $15k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $14,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1916 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 8.25% ✓
• Cap rate: 76.19%
• Cash-on-cash: 249.62%
• DSCR: 12.11
• GRM: 1.0

CMA / ARV

• ARV (on-the-fly): $94,976
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1544 Maine St	0.30mi	3/1.0 (-1)	1,632 (-4%)	8mo	$76,000	$47	67
1536 Greenwich St	0.38mi	4/1.5	1,536 (-9%)	10mo	$100,000	$65	59
709 S Granger St	0.56mi	3/1.5 (-1)	1,633 (-4%)	8mo	$32,500	$20	56
711 Maple St	0.34mi	4/2.0	1,530 (-10%)	12mo	$85,000	$56	56
11 Roselawn Ct	0.53mi	3/1.0 (-1)	1,573 (-7%)	1mo	$122,000	$78	56
616 S Wheeler St	0.63mi	3/1.5 (-1)	1,728 (+2%)	8mo	$50,000	$29	55
1403 Cypress St	0.70mi	4/2.0	1,603 (-6%)	2mo	$63,000	$39	54
125 Gratiot Court Ct	0.67mi	4/1.5	1,598 (-6%)	9mo	$169,900	$106	52
613 Williams St	0.50mi	3/1.0 (-1)	1,526 (-10%)	2mo	$40,000	$26	52
1454 Vermont St	0.20mi	3/2.0 (-1)	1,458 (-14%)	11mo	$101,000	$69	51
1112 Brockway Rd	0.48mi	4/2.0	1,472 (-13%)	11mo	$98,500	$67	45
616 S Oakley St	0.64mi	3/1.0 (-1)	1,836 (+8%)	7mo	$36,000	$20	44

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: —
• Equity multiple: 13.97×
• Total profit: $54,465
• Equity at exit: $2,237

10-year hold

• IRR: —
• Equity multiple: 30.60×
• Total profit: $124,311
• Equity at exit: $1,297

Cash invested: $4,200 (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: 1.0×

Monthly cashflow live

• Estimated rent: $1,237 medium
• Mortgage (P&I): −$79
• Tax est. 1.5%: −$19 /mo · $225/yr
• Insurance: −$6
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $874

Break-even live

Break-even rent $131

Max offer price $15,000

Occupancy floor 24%

Sensitivity live

Price	-10% $884	-5% $879	+0% $874	+5% $868	+10% $863
Rent	-10% $776	-5% $825	+0% $874	+5% $923	+10% $971
Rate	-1.0pp $881	-0.5pp $877	base $874	+0.5pp $870	+1.0pp $866

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: $3,750
• Closing costs: $450
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-19
   days on market $15,000 Active 57 DOM
2. 2026-06-18
   days on market $15,000 Active 56 DOM
3. 2026-06-17
   days on market $15,000 Active 55 DOM
4. 2026-06-16
   days on market $15,000 Active 54 DOM
5. 2026-06-15
   days on market $15,000 Active 53 DOM
6. 2026-06-14
   days on market $15,000 Active 51 DOM
7. 2026-06-12
   days on market $15,000 Active 50 DOM
8. 2026-06-09
   days on market $15,000 Active 47 DOM
9. 2026-06-08
   days on market $15,000 Active 46 DOM
10. 2026-06-07
    days on market $15,000 Active 45 DOM
11. 2026-06-05
    days on market $15,000 Active 42 DOM
12. 2026-06-03
    days on market $15,000 Active 41 DOM
13. 2026-06-02
    days on market $15,000 Active 40 DOM
14. 2026-06-01
    days on market $15,000 Active 39 DOM
15. 2026-05-31
    days on market $15,000 Active 38 DOM
16. 2026-05-30
    days on market $15,000 Active 37 DOM
17. 2026-05-14
    price $15,000 385-char remark

    Show marketing remark (385 chars)

    Fire-damaged 4-bedroom home with approximately 1,700 sq ft ready for full rehab. Great opportunity for investors, flippers, or contractors looking to restore value. Property requires significant repairs and is being sold as-is with no seller repairs. Spacious layout has strong potential for renovation and resale or rental income. Bring your vision and make this property shine again.

18. 2026-05-14
    price $15,000

    Show marketing remark (385 chars)

    Fire-damaged 4-bedroom home with approximately 1,700 sq ft ready for full rehab. Great opportunity for investors, flippers, or contractors looking to restore value. Property requires significant repairs and is being sold as-is with no seller repairs. Spacious layout has strong potential for renovation and resale or rental income. Bring your vision and make this property shine again.

19. 2026-05-12
    price $16,500 385-char remark

    Show marketing remark (385 chars)

    Fire-damaged 4-bedroom home with approximately 1,700 sq ft ready for full rehab. Great opportunity for investors, flippers, or contractors looking to restore value. Property requires significant repairs and is being sold as-is with no seller repairs. Spacious layout has strong potential for renovation and resale or rental income. Bring your vision and make this property shine again.

20. 2026-05-12
    price $16,500

    Show marketing remark (385 chars)

    Fire-damaged 4-bedroom home with approximately 1,700 sq ft ready for full rehab. Great opportunity for investors, flippers, or contractors looking to restore value. Property requires significant repairs and is being sold as-is with no seller repairs. Spacious layout has strong potential for renovation and resale or rental income. Bring your vision and make this property shine again.

21. 2026-05-06
    price $17,500 385-char remark

    Show marketing remark (385 chars)

    Fire-damaged 4-bedroom home with approximately 1,700 sq ft ready for full rehab. Great opportunity for investors, flippers, or contractors looking to restore value. Property requires significant repairs and is being sold as-is with no seller repairs. Spacious layout has strong potential for renovation and resale or rental income. Bring your vision and make this property shine again.

22. 2026-05-05
    price $17,500
23. 2026-04-23
    listed $19,000 Active

    Show marketing remark (385 chars)

    Fire-damaged 4-bedroom home with approximately 1,700 sq ft ready for full rehab. Great opportunity for investors, flippers, or contractors looking to restore value. Property requires significant repairs and is being sold as-is with no seller repairs. Spacious layout has strong potential for renovation and resale or rental income. Bring your vision and make this property shine again.

24. 2026-04-23
    listed $19,000 Active 385-char remark

    Show marketing remark (385 chars)

    Fire-damaged 4-bedroom home with approximately 1,700 sq ft ready for full rehab. Great opportunity for investors, flippers, or contractors looking to restore value. Property requires significant repairs and is being sold as-is with no seller repairs. Spacious layout has strong potential for renovation and resale or rental income. Bring your vision and make this property shine again.

25. 2008-03-28
    soldstatus $7,200 131-char remark

    Show marketing remark (131 chars)

    Large corner lot with fenced yard. 12ft ceilings in living room with brick fireplace. Some wood floors, newer furnace. Work needed.

26. 2008-03-28
    soldstatus $7,200

    Show marketing remark (131 chars)

    Large corner lot with fenced yard. 12ft ceilings in living room with brick fireplace. Some wood floors, newer furnace. Work needed.

27. 2008-03-18
    historical
28. 2008-02-12
    listed $9,900 131-char remark

    Show marketing remark (131 chars)

    Large corner lot with fenced yard. 12ft ceilings in living room with brick fireplace. Some wood floors, newer furnace. Work needed.

29. 2008-02-12
    listed $9,900

    Show marketing remark (131 chars)

    Large corner lot with fenced yard. 12ft ceilings in living room with brick fireplace. Some wood floors, newer furnace. Work needed.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $14,846
• − Mortgage interest: −$840
• − Property taxes: −$225
• − Insurance: −$75
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − Depreciation: −$436
• Taxable income: $10,894
• Est. tax owed @ 24.0%: −$2,615
• After-tax cash flow: $7,870/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

+51.5% since first listed

13 events — show timeline

• 2026-05-14 Price Changed $15,000 MiRealSource-MiMLS
• 2026-05-14 Price Changed $15,000 REALCOMP
• 2026-05-12 Price Changed $16,500 MiRealSource-MiMLS
• 2026-05-12 Price Changed $16,500 REALCOMP
• 2026-05-06 Price Changed $17,500 MiRealSource-MiMLS
• 2026-05-05 Price Changed $17,500 REALCOMP
• 2026-04-23 Listed $19,000 REALCOMP
• 2026-04-23 Listed $19,000 MiRealSource-MiMLS
• 2008-03-28 Sold (MLS) $7,200 MiRealSource-MiMLS
• 2008-03-28 Sold (MLS) $7,200 REALCOMP
• 2008-03-18 Listing Removed — MiRealSource-MiMLS
• 2008-02-12 Listed $9,900 MiRealSource-MiMLS
• 2008-02-12 Listed $9,900 REALCOMP

Property tax history

+0.4%/yr

Latest (2025): $1,132 · -18.2% YoY. Source: county tax records.