1425 Stephens St · Saginaw, MI 48602

$59,900

2 bd · 1.0 ba · 902 sqft · SingleFamily public records · 10 Days on market

Built 1914 5,227 sqft lot Est $78k · 24% 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

2 bedroom bungalow ready for new owners in Saginaw! This property is just under 1000 square feet with 2 bedrooms, and a Jack and Jill full bathroom, large kitchen open to the dining room with gorgeous wood flooring, and a spacious kitchen. Below is a full basement with plenty of space for storage. Relax and enjoy the summer from the front porch. Call for your private showing today!

Key facts

• Front porch
• Large kitchen
• Full basement

Tags

• JACK AND JILL FULL BATHROOM
• LARGE KITCHEN
• GORGEOUS WOOD FLOORING
• FULL BASEMENT
• FRONT PORCH

Property features AI

Finance

• Other: Listing broker: Century 21 Signature Realty
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Residential zoning; Subdivision: SAGINAW; Cross streets: S Bates & Woodbridge
• Construction: Vinyl siding; Block foundation; Built with above-grade finished living area of 902 (square feet)
• Exterior features: Fenced yard; Paved, publicly maintained road

Interior

• Kitchen: Oven; Range
• Bedrooms: Total of 5 rooms (bedrooms included)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Gas water heater; Full, unfinished block basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($903 rent vs $60k).
• Cap rate 11.9% 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; 2 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 $414 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 $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 25y 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.

Risks & watch-outs

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

Recommended offer $59,900

Questions for the listing agent

1. Built in 1914 — 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: 1.51% ✓
• Cap rate: 11.88%
• Cash-on-cash: 19.95%
• DSCR: 1.89
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $78,474
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1529 Beech St	0.23mi	2/1.0	859 (-5%)	1mo	$75,000	$87	80
1542 Beech St	0.26mi	3/1.0 (+1)	864 (-4%)	1mo	$102,000	$118	75
1910 Allegan St	0.52mi	2/1.0	894 (-1%)	4mo	$91,000	$102	71
1802 Allegan St	0.42mi	2/1.0	834 (-8%)	0mo	$79,900	$96	68
705 Wayne St	0.50mi	3/1.0 (+1)	897 (-1%)	6mo	$45,000	$50	66
1618 Greenwich St	0.49mi	2/1.0	960 (+6%)	4mo	$79,900	$83	63
1700 Marquette St	0.61mi	2/1.0	963 (+7%)	1mo	$80,000	$83	60
1715 Hancock St	0.65mi	2/1.0	970 (+8%)	1mo	$42,500	$44	57
1514 Marquette St	0.53mi	2/1.5	986 (+9%)	2mo	$50,000	$51	56
228 Larch St	0.46mi	2/1.0	782 (-13%)	4mo	$71,000	$91	53
1719 Marquette St	0.64mi	2/1.5	830 (-8%)	5mo	$50,000	$60	50
1902 Newberry St	0.49mi	3/1.0 (+1)	1,004 (+11%)	4mo	$139,900	$139	50

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: 13.3%
• Equity multiple: 1.54×
• Total profit: $8,977
• Equity at exit: $8,931

10-year hold

• IRR: 22.9%
• Equity multiple: 3.06×
• Total profit: $34,553
• Equity at exit: $5,179

Cash invested: $16,772 (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: 5.5×

Monthly cashflow live

• Estimated rent: $903 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$95 /mo · $1,143/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $279

Break-even live

Break-even rent $550

Max offer price $59,900

Occupancy floor 64%

Sensitivity live

Price	-10% $313	-5% $296	+0% $279	+5% $262	+10% $245
Rent	-10% $208	-5% $243	+0% $279	+5% $314	+10% $350
Rate	-1.0pp $309	-0.5pp $294	base $279	+0.5pp $263	+1.0pp $248

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1827 Gilbert St Saginaw, MI	3.0	2.0	1008	$695	$0.69	44d	1	1.40mi
2021 Grout St Saginaw, MI	1.0–2.0	1.0	862	$995	$1.15	44d	1	1.50mi

Listing history 8 events

1. 2026-06-19
   days on market $59,900 Active 10 DOM
2. 2026-06-18
   days on market $59,900 Active 9 DOM
3. 2026-06-17
   days on market $59,900 Active 8 DOM
4. 2026-06-16
   days on market $59,900 Active 7 DOM
5. 2026-06-15
   days on market $59,900 Active 6 DOM
6. 2026-06-14
   days on market $59,900 Active 4 DOM
7. 2026-06-12
   remarks 384-char remark
8. 2026-06-12
   listed $59,900 Active 3 DOM

ⓘ 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: $1,143 · $95/mo
• Projected year-2 tax: $1,143 · $95/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 3/10 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: $10,833
• − Mortgage interest: −$3,355
• − Property taxes: −$1,143
• − Insurance: −$300
• − Repairs & maintenance: −$867
• − Management: −$867
• − Depreciation: −$1,743
• Taxable income: $2,559
• Est. tax owed @ 24.0%: −$614
• After-tax cash flow: $2,732/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

+13.2% since first listed

22 events — show timeline

• 2026-06-08 Listed $59,900 MiRealSource-MiMLS
• 2026-06-08 Listed $59,900 REALCOMP
• 2018-04-27 Listing Removed — MiRealSource-MiMLS
• 2018-04-27 Listing Removed — REALCOMP
• 2018-01-23 Price Changed $30,000 MiRealSource-MiMLS
• 2017-11-16 Price Changed $35,900 MiRealSource-MiMLS
• 2017-10-29 Listed $39,900 MiRealSource-MiMLS
• 2017-10-27 Listed $30,000 REALCOMP
• 2013-06-17 Listing Removed — REALCOMP
• 2013-06-17 Listing Removed — MiRealSource-MiMLS
• 2013-03-06 Listed $29,900 REALCOMP
• 2013-03-06 Listed $29,900 MiRealSource-MiMLS
• 2010-01-15 Listing Removed — MiRealSource-MiMLS
• 2010-01-15 Listing Removed — REALCOMP
• 2009-07-15 Listed $49,900 MiRealSource-MiMLS
• 2009-07-15 Listed $49,900 REALCOMP
• 2001-11-16 Sold (Public Records) $52,900 Public Records
• 2001-10-30 Sold (MLS) $52,900 MiRealSource-MiMLS
• 2001-10-30 Sold (MLS) $52,900 REALCOMP
• 2001-10-05 Listing Removed — MiRealSource-MiMLS
• 2001-09-18 Listed $52,900 MiRealSource-MiMLS
• 2001-09-18 Listed $52,900 REALCOMP

Property tax history

+1.5%/yr

Latest (2025): $1,143 · -16.3% YoY. Source: county tax records.