2245 Taft St · Saginaw, MI 48602

$55,000

2 bd · 1.0 ba · 885 sqft · SingleFamily public records · 113 Days on market

Built 1924 4,792 sqft lot Est $80k · 31% under

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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

Welcome home. If you are looking for a home that feels manageable, practical, and full of original charm, this classic 1924 ranch delivers. Natural light fills the main living area, highlighting hardwood floors and traditional trim details that give the home warmth and personality. The layout offers defined living and dining spaces that feel connected yet purposeful, creating room to relax, host friends, or set up a comfortable work from home area. The kitchen provides generous cabinet storage, functional counter space, and newer flooring built for everyday use. Its efficient footprint makes cooking and daily routines simple while still offering potential for future personalization. Both bedrooms featurehardwood flooring and comfortable proportions, giving flexibility for sleeping space, guests, or a home office setup. The full bathroom includes a tub and shower combination with updated flooring for durability and easy maintenance. This Michigan basement is dry and offers ceiling height suitable for someone approximately six feet tall, making it genuinely usable for storage, hobbies, tools, or organized seasonal space. That added functionality increases everyday convenience without increasing square footage above grade. The roof is approximately 14 years old, providing additional confidence in the home's overall upkeep. Outside, the large covered front porch creates an inviting entry and a space to enjoy fresh air, morning coffee, or quiet evenings. Newer front steps improve both accessibility and curb appeal. The long driveway provides ample off street parking, a practical benefit whether you have multiple vehicles, frequent guests or could just use the space. The 0.11 acre lot is easy to maintain while still offering room for outdoor seating, light gardening, or simple landscaping improvements. Located within Saginaw, the home offers convenient access to local parks, schools, shopping areas, and commuter routes throughout the city while also maximizing it's proximity to all that the Township has to offer. I

Key facts

• Full bathroom
• Hardwood floors
• 4,792 sq ft lot

Tags

• HARDWOOD FLOORS
• TRADITIONAL TRIM DETAILS
• GENEROUS CABINET STORAGE
• FUNCTIONAL COUNTER SPACE
• FULL BATHROOM
• TUB AND SHOWER COMBINATION

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Natural gas water heater; Public water
• Home design: Ranch-style single family residence; Single-story; Built in 1924; Living area approximately 885
• Construction: Aluminum siding; Composition roof; Built in 1924
• Exterior features: Paved road access; Public water

Interior

• Kitchen: Refrigerator included
• Bathrooms: 1 full bathroom
• Heating & cooling: Gravity heating
• Interior features: 6 total rooms; Full Michigan-style basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($924 rent vs $55k).
• Recommended offer: $50k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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 $380 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 $15k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,050 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 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 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.68% ✓
• Cap rate: 12.50%
• Cash-on-cash: 22.17%
• DSCR: 1.99
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $79,650
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2515 Dow Pl	0.57mi	2/1.0	872 (-2%)	2mo	$145,000	$166	70
2524 N Carolina St	0.28mi	3/1.0 (+1)	845 (-4%)	7mo	$78,000	$92	69
1815 W Genesee	0.45mi	2/1.0	818 (-8%)	1mo	$74,000	$90	65
2105 Mershon St	0.41mi	2/1.0	822 (-7%)	5mo	$120,000	$146	65
2513 Barnard St	0.40mi	2/1.0	966 (+9%)	3mo	$41,000	$42	63
2125 State St	0.25mi	3/1.0 (+1)	986 (+11%)	4mo	$40,200	$41	62
2312 Durand St	0.64mi	2/1.0	849 (-4%)	4mo	$24,750	$29	60
2821 Cooper Ave	0.68mi	2/1.0	917 (+4%)	3mo	$95,000	$104	59
1719 N Charles St	0.51mi	3/1.0 (+1)	960 (+8%)	1mo	$37,000	$39	56
1523 W Genesee St	0.59mi	3/1.0 (+1)	936 (+6%)	3mo	$53,500	$57	55
2250 Mershon St	0.40mi	2/1.5	1,005 (+14%)	6mo	$104,000	$103	51
1608 Congress Ave	0.64mi	3/1.0 (+1)	948 (+7%)	3mo	$64,000	$68	51

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: 16.2%
• Equity multiple: 1.66×
• Total profit: $10,180
• Equity at exit: $8,201

10-year hold

• IRR: 25.6%
• Equity multiple: 3.35×
• Total profit: $36,264
• Equity at exit: $4,755

Cash invested: $15,400 (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: 5.0×

Monthly cashflow live

• Estimated rent: $924 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$134 /mo · $1,605/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $284

Break-even live

Break-even rent $563

Max offer price $55,000

Occupancy floor 64%

Sensitivity live

Price	-10% $316	-5% $300	+0% $284	+5% $269	+10% $253
Rent	-10% $212	-5% $248	+0% $284	+5% $321	+10% $357
Rate	-1.0pp $312	-0.5pp $298	base $284	+0.5pp $270	+1.0pp $256

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $55,000 Active 113 DOM
2. 2026-06-18
   days on market $55,000 Active 112 DOM
3. 2026-06-17
   days on market $55,000 Active 111 DOM
4. 2026-06-16
   days on market $55,000 Active 110 DOM
5. 2026-06-15
   days on market $55,000 Active 109 DOM
6. 2026-06-14
   days on market $55,000 Active 107 DOM
7. 2026-06-12
   days on market $55,000 Active 106 DOM
8. 2026-06-09
   days on market $55,000 Active 103 DOM
9. 2026-06-08
   days on market $55,000 Active 102 DOM
10. 2026-06-07
    days on market $55,000 Active 101 DOM
11. 2026-06-05
    days on market $55,000 Active 98 DOM
12. 2026-06-03
    days on market $55,000 Active 97 DOM
13. 2026-06-02
    days on market $55,000 Active 96 DOM
14. 2026-06-01
    days on market $55,000 Active 95 DOM
15. 2026-05-31
    days on market $55,000 Active 94 DOM
16. 2026-05-30
    days on market $55,000 Active 93 DOM
17. 2026-02-26
    listed $60,000 Active

    Show marketing remark (713 chars)

    Welcome home. If you are looking for a home that feels manageable, practical, and full of original charm, this classic 1924 ranch delivers. Natural light fills the main living area, highlighting hardwood floors and traditional trim details that give the home warmth and personality. The layout offers defined living and dining spaces that feel connected yet purposeful, creating room to relax, host friends, or set up a comfortable work from home area. The kitchen provides generous cabinet storage, functional counter space, and newer flooring built for everyday use. Its efficient footprint makes cooking and daily routines simple while still offering potential for future personalization. Both bedrooms feature

18. 2026-02-26
    listed $60,000 Active 2044-char remark

    Show marketing remark (713 chars)

    Welcome home. If you are looking for a home that feels manageable, practical, and full of original charm, this classic 1924 ranch delivers. Natural light fills the main living area, highlighting hardwood floors and traditional trim details that give the home warmth and personality. The layout offers defined living and dining spaces that feel connected yet purposeful, creating room to relax, host friends, or set up a comfortable work from home area. The kitchen provides generous cabinet storage, functional counter space, and newer flooring built for everyday use. Its efficient footprint makes cooking and daily routines simple while still offering potential for future personalization. Both bedrooms feature

19. 2026-02-26
    listed $60,000 Active 713-char remark

    Show marketing remark (713 chars)

    Welcome home. If you are looking for a home that feels manageable, practical, and full of original charm, this classic 1924 ranch delivers. Natural light fills the main living area, highlighting hardwood floors and traditional trim details that give the home warmth and personality. The layout offers defined living and dining spaces that feel connected yet purposeful, creating room to relax, host friends, or set up a comfortable work from home area. The kitchen provides generous cabinet storage, functional counter space, and newer flooring built for everyday use. Its efficient footprint makes cooking and daily routines simple while still offering potential for future personalization. Both bedrooms feature

20. 2022-06-28
    soldstatus $49,000
21. 2022-06-20
    soldstatus $49,000
22. 2022-06-20
    soldstatus $49,000
23. 2022-06-20
    listed $49,000
24. 2022-06-20
    listed $49,000

ⓘ 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: $1,605 · $134/mo
• Projected year-2 tax: $1,605 · $134/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 3/10 Moderate 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: $11,082
• − Mortgage interest: −$3,081
• − Property taxes: −$1,605
• − Insurance: −$275
• − Repairs & maintenance: −$887
• − Management: −$887
• − Depreciation: −$1,600
• Taxable income: $2,748
• Est. tax owed @ 24.0%: −$660
• After-tax cash flow: $2,754/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

+22.4% since first listed

8 events — show timeline

• 2026-02-26 Listed $60,000 MiRealSource-MiMLS
• 2026-02-26 Listed $60,000 REALCOMP
• 2026-02-26 Listed $60,000 SW Michigan MLS
• 2022-06-28 Sold (Public Records) $49,000 Public Records
• 2022-06-20 Listed $49,000 REALCOMP
• 2022-06-20 Listed $49,000 Greater Lansing AoR
• 2022-06-20 Sold (MLS) $49,000 REALCOMP
• 2022-06-20 Sold (MLS) $49,000 Greater Lansing AoR

Property tax history

+3.7%/yr

Latest (2025): $1,605 · -16.3% YoY. Source: county tax records.