2514 Thayer St · Saginaw, MI 48601

$3,000

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 211 Days on market

Built 1894 6,534 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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

Key facts

• 6,534 sq ft lot
• Built 1894
• Listed 211 days

🏷️ Possibly a rental listed for sale. The $3,000 price doesn't fit this home's estimated sale value (~$31,360) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $3k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($800 rent vs $3k).
• Recommended offer: $3k (12.0% below list) — sets the bar for market timing.
• Cap rate 250.8% 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: 201 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 $21 of loan paydown is wiped out by about $90 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 $840 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 211 days — a 12% lower offer ($3k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask has dropped $5k (62%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 211 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1894 — 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. 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?
8. 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.
9. 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.
10. 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: 26.67% ✓
• Cap rate: 250.80%
• Cash-on-cash: 873.24%
• DSCR: 39.85
• GRM: 0.3

CMA / ARV

• ARV (on-the-fly): $31,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2503 Thayer St	0.03mi	2/1.0	816 (-9%)	3mo	$30,000	$37	81
2409 Wilkins St	0.13mi	2/1.0	1,012 (+13%)	1mo	$23,000	$23	72
500 Webber St	0.31mi	2/1.0	924 (+3%)	15mo	$32,000	$35	68
1015 Cambrey St	0.24mi	2/1.0	959 (+7%)	12mo	$40,000	$42	68
3315 S Washington Ave	0.64mi	2/1.0	927 (+4%)	8mo	$63,500	$69	57
3212 Lowell Ave	0.73mi	2/1.0	864 (-4%)	10mo	$13,000	$15	51
2221 Owen St	0.54mi	2/2.0	962 (+7%)	10mo	$12,500	$13	50
3031 Grant St	0.42mi	2/1.0	807 (-10%)	17mo	$50,000	$62	50
3211 Grant St	0.55mi	2/1.0	792 (-12%)	8mo	$5,000	$6	48
2117 Lowell Ave	0.62mi	3/1.5 (+1)	908 (+1%)	18mo	$23,500	$26	47
3034 Russell St	0.44mi	3/1.0 (+1)	976 (+9%)	17mo	$23,001	$24	46
3308 Douglass St	0.70mi	3/1.0 (+1)	983 (+10%)	1mo	$82,000	$83	46

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: —
• Equity multiple: 46.78×
• Total profit: $38,458
• Equity at exit: $447

10-year hold

• IRR: —
• Equity multiple: 100.61×
• Total profit: $83,669
• Equity at exit: $259

Cash invested: $840 (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 48601

• Home prices YoY: -32.1%
• Active inventory: 201
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $800 medium
• Mortgage (P&I): −$16
• Tax est. 1.5%: −$4 /mo · $45/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$168
• Net cashflow: $611

Break-even live

Break-even rent $26

Max offer price $3,000

Occupancy floor 19%

Sensitivity live

Price	-10% $613	-5% $612	+0% $611	+5% $610	+10% $609
Rent	-10% $548	-5% $580	+0% $611	+5% $643	+10% $674
Rate	-1.0pp $613	-0.5pp $612	base $611	+0.5pp $610	+1.0pp $610

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: $750
• Closing costs: $90
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 Parkside Ct Saginaw, MI	1.0–3.0	1.0–1.5	808	$800	$0.99	45d	1	0.94mi

Listing history 31 events

1. 2026-03-31
   status Pending
2. 2026-03-27
   historical
3. 2026-03-20
   status Pending

   Show marketing remark (419 chars)

   Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

4. 2026-03-20
   status Pending 419-char remark

   Show marketing remark (419 chars)

   Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

5. 2026-03-02
   price $3,000 419-char remark

   Show marketing remark (419 chars)

   Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

6. 2026-03-02
   price $3,000

   Show marketing remark (419 chars)

   Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

7. 2026-01-08
   price $5,000 419-char remark

   Show marketing remark (419 chars)

   Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

8. 2026-01-08
   price $5,000

   Show marketing remark (419 chars)

   Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

9. 2025-12-06
   status Active

   Show marketing remark (419 chars)

   Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

10. 2025-12-06
    status Active 419-char remark

    Show marketing remark (419 chars)

    Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

11. 2025-12-02
    historical

    Show marketing remark (419 chars)

    Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

12. 2025-12-02
    historical 419-char remark

    Show marketing remark (419 chars)

    Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

13. 2025-11-15
    price $7,000 419-char remark

    Show marketing remark (419 chars)

    Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

14. 2025-11-14
    price $7,000
15. 2025-08-18
    listed $8,000 Active

    Show marketing remark (419 chars)

    Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

16. 2025-08-18
    listed $8,000 Active 419-char remark

    Show marketing remark (419 chars)

    Welcome to 2514 Thayer St. , Saginaw, MI 48601. This 2-bedroom, 1-bath home is a great opportunity for investors or buyers looking to add value. Situated on a nice corner lot, this property is a true handyman special and ideal for a fixer-upper project. With some repairs and updates, this home offers strong potential to build equity or become a valuable addition to your rental portfolio. Schedule your showing today.

17. 2025-07-21
    historical
18. 2025-07-21
    historical
19. 2025-04-14
    listed $15,000 Active
20. 2025-04-14
    listed $15,000 Active
21. 2024-04-12
    soldstatus $6,000 Sold
22. 2024-04-12
    soldstatus $6,000 Closed
23. 2024-03-22
    status Pending
24. 2024-03-22
    status Pending
25. 2024-02-03
    price $9,000
26. 2024-02-02
    price $9,000
27. 2023-12-26
    listed $13,000 Active
28. 2023-12-26
    listed $13,000 Active
29. 2006-03-23
    historical
30. 2006-03-22
    soldstatus $13,500
31. 2006-02-12
    listed $13,500

ⓘ 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 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: $9,600
• − Mortgage interest: −$168
• − Property taxes: −$45
• − Insurance: −$15
• − Repairs & maintenance: −$768
• − Management: −$768
• − Depreciation: −$87
• Taxable income: $7,749
• Est. tax owed @ 24.0%: −$1,860
• After-tax cash flow: $5,476/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
• City population: 54,884
• Population (ZIP): 32,069

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 0.56)
• Race & ethnicity: Black 59% White 27% Hispanic / Latino 12% Two or more races 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▼ -93.46%
• Current HPI: 197.3359
• 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

-77.8% since first listed

31 events — show timeline

• 2026-03-31 Pending — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2026-03-20 Pending — REALCOMP
• 2026-03-20 Pending — MiRealSource-MiMLS
• 2026-03-02 Price Changed $3,000 MiRealSource-MiMLS
• 2026-03-02 Price Changed $3,000 REALCOMP
• 2026-01-08 Price Changed $5,000 MiRealSource-MiMLS
• 2026-01-08 Price Changed $5,000 REALCOMP
• 2025-12-06 Relisted — REALCOMP
• 2025-12-06 Relisted — MiRealSource-MiMLS
• 2025-12-02 Listing Removed — MiRealSource-MiMLS
• 2025-12-02 Listing Removed — REALCOMP
• 2025-11-15 Price Changed $7,000 MiRealSource-MiMLS
• 2025-11-14 Price Changed $7,000 REALCOMP
• 2025-08-18 Listed $8,000 REALCOMP
• 2025-08-18 Listed $8,000 MiRealSource-MiMLS
• 2025-07-21 Listing Removed — MiRealSource-MiMLS
• 2025-07-21 Listing Removed — REALCOMP
• 2025-04-14 Listed $15,000 REALCOMP
• 2025-04-14 Listed $15,000 MiRealSource-MiMLS
• 2024-04-12 Sold (MLS) $6,000 MiRealSource-MiMLS
• 2024-04-12 Sold (MLS) $6,000 REALCOMP
• 2024-03-22 Pending — MiRealSource-MiMLS
• 2024-03-22 Pending — REALCOMP
• 2024-02-03 Price Changed $9,000 MiRealSource-MiMLS
• 2024-02-02 Price Changed $9,000 REALCOMP
• 2023-12-26 Listed $13,000 MiRealSource-MiMLS
• 2023-12-26 Listed $13,000 REALCOMP
• 2006-03-23 Listing Removed — MiRealSource-MiMLS
• 2006-03-22 Sold (MLS) $13,500 MiRealSource-MiMLS
• 2006-02-12 Listed $13,500 MiRealSource-MiMLS

Property tax history

-3.3%/yr

Latest (2025): $497 · +48.7% YoY. Source: county tax records.