2545 Hermansau St · Saginaw, MI 48602

$65,000

2 bd · 1.0 ba · 1,172 sqft · SingleFamily public records · 196 Days on market

Built 1923 6,098 sqft lot Est $69k · 6% under ↓ 17% 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 +10.2/15.0
• 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 to this inviting, well-maintained bungalow offering classic character and versatile living space. Inside, you'll find beautiful hardwood floors throughout most of the home; a warm, timeless foundation for your décor and lifestyle. The main level features two comfortably sized bedrooms and a full bath, ideal for everyday living or hosting guests. Upstairs awaits a large, flexible bonus room; the perfect blank canvas. Transform it into a spacious master suite, a home office, hobby room, or anything your lifestyle calls for. The open layout and generous proportions give you the freedom to customize to your heart's desire. This home is perfect for those who appreciate classic features and want room to grow. Don't miss your chance to schedule a private showing today and imagine the possibilities!

Key facts

• 6,098 sq ft lot
• Garage
• Built 1923

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached garage that faces the side; Off-street parking; 1-car garage
• Utilities: Public water; Public sewer / sewer available
• Home design: Single-family residence; Two stories; Residential property
• Construction: Aluminum siding; Block foundation; Built with block basement
• Exterior features: Fenced yard

Interior

• Kitchen: Oven; Range; Refrigerator
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric radiant heating; No central cooling
• Interior features: Entrance foyer; Has basement with block construction
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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 $449 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 $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 196 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 14y ago; this cycle's ask has dropped $15k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $53k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 196 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 1923 — 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: 1.55% ✓
• Cap rate: 11.60%
• Cash-on-cash: 18.95%
• DSCR: 1.84
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $69,148
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 Davenport Ave	0.35mi	2/1.0	1,224 (+4%)	2mo	$60,000	$49	74
2981 Harrison St	0.55mi	3/1.0 (+1)	1,196 (+2%)	6mo	$65,000	$54	61
2955 Eddy St	0.46mi	3/1.0 (+1)	1,107 (-6%)	6mo	$75,200	$68	59
2338 N Bond St	0.29mi	3/2.0 (+1)	1,302 (+11%)	1mo	$77,000	$59	58
2450 N Mason St	0.41mi	2/1.0	1,043 (-11%)	6mo	$100,000	$96	58
1724 State St	0.69mi	3/1.0 (+1)	1,144 (-2%)	2mo	$75,000	$66	58
626 Stoker Dr	0.39mi	3/1.0 (+1)	1,012 (-14%)	1mo	$65,000	$64	53
3047 Jackson St	0.69mi	3/1.0 (+1)	1,124 (-4%)	7mo	$49,900	$44	51
815 W Genesee Ave	0.47mi	3/1.0 (+1)	1,305 (+11%)	5mo	$72,000	$55	50
2022 Benjamin St	0.44mi	3/1.0 (+1)	1,016 (-13%)	4mo	$35,000	$34	49
2250 Mershon St	0.62mi	2/1.5	1,005 (-14%)	6mo	$104,000	$103	40
1923 N Oakley St	0.58mi	3/2.0 (+1)	1,343 (+15%)	4mo	$20,000	$15	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: 12.1%
• Equity multiple: 1.49×
• Total profit: $8,835
• Equity at exit: $9,692

10-year hold

• IRR: 21.9%
• Equity multiple: 2.96×
• Total profit: $35,693
• Equity at exit: $5,620

Cash invested: $18,200 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,010 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$142 /mo · $1,708/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $287

Break-even live

Break-even rent $646

Max offer price $65,000

Occupancy floor 67%

Sensitivity live

Price	-10% $324	-5% $306	+0% $287	+5% $269	+10% $251
Rent	-10% $208	-5% $248	+0% $287	+5% $327	+10% $367
Rate	-1.0pp $320	-0.5pp $304	base $287	+0.5pp $271	+1.0pp $253

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-19
   days on market $65,000 Active 196 DOM
2. 2026-06-18
   days on market $65,000 Active 195 DOM
3. 2026-06-17
   days on market $65,000 Active 194 DOM
4. 2026-06-16
   days on market $65,000 Active 193 DOM
5. 2026-06-15
   days on market $65,000 Active 192 DOM
6. 2026-06-14
   days on market $65,000 Active 190 DOM
7. 2026-06-12
   days on market $65,000 Active 189 DOM
8. 2026-06-09
   days on market $65,000 Active 186 DOM
9. 2026-06-08
   days on market $65,000 Active 185 DOM
10. 2026-06-07
    days on market $65,000 Active 184 DOM
11. 2026-06-05
    days on market $65,000 Active 181 DOM
12. 2026-06-03
    days on market $65,000 Active 180 DOM
13. 2026-06-02
    days on market $65,000 Active 179 DOM
14. 2026-06-01
    days on market $65,000 Active 178 DOM
15. 2026-05-31
    days on market $65,000 Active 177 DOM
16. 2026-05-30
    days on market $65,000 Active 176 DOM
17. 2026-02-18
    price $65,000 817-char remark

    Show marketing remark (817 chars)

    Welcome to this inviting, well-maintained bungalow offering classic character and versatile living space. Inside, you'll find beautiful hardwood floors throughout most of the home; a warm, timeless foundation for your décor and lifestyle. The main level features two comfortably sized bedrooms and a full bath, ideal for everyday living or hosting guests. Upstairs awaits a large, flexible bonus room; the perfect blank canvas. Transform it into a spacious master suite, a home office, hobby room, or anything your lifestyle calls for. The open layout and generous proportions give you the freedom to customize to your heart's desire. This home is perfect for those who appreciate classic features and want room to grow. Don't miss your chance to schedule a private showing today and imagine the possibilities!

18. 2026-02-17
    price $65,000
19. 2025-12-24
    price $74,900 817-char remark

    Show marketing remark (817 chars)

    Welcome to this inviting, well-maintained bungalow offering classic character and versatile living space. Inside, you'll find beautiful hardwood floors throughout most of the home; a warm, timeless foundation for your décor and lifestyle. The main level features two comfortably sized bedrooms and a full bath, ideal for everyday living or hosting guests. Upstairs awaits a large, flexible bonus room; the perfect blank canvas. Transform it into a spacious master suite, a home office, hobby room, or anything your lifestyle calls for. The open layout and generous proportions give you the freedom to customize to your heart's desire. This home is perfect for those who appreciate classic features and want room to grow. Don't miss your chance to schedule a private showing today and imagine the possibilities!

20. 2025-12-23
    price $74,900
21. 2025-12-05
    listed $79,900 Active

    Show marketing remark (817 chars)

    Welcome to this inviting, well-maintained bungalow offering classic character and versatile living space. Inside, you'll find beautiful hardwood floors throughout most of the home; a warm, timeless foundation for your décor and lifestyle. The main level features two comfortably sized bedrooms and a full bath, ideal for everyday living or hosting guests. Upstairs awaits a large, flexible bonus room; the perfect blank canvas. Transform it into a spacious master suite, a home office, hobby room, or anything your lifestyle calls for. The open layout and generous proportions give you the freedom to customize to your heart's desire. This home is perfect for those who appreciate classic features and want room to grow. Don't miss your chance to schedule a private showing today and imagine the possibilities!

22. 2025-12-05
    listed $79,900 Active 817-char remark

    Show marketing remark (817 chars)

    Welcome to this inviting, well-maintained bungalow offering classic character and versatile living space. Inside, you'll find beautiful hardwood floors throughout most of the home; a warm, timeless foundation for your décor and lifestyle. The main level features two comfortably sized bedrooms and a full bath, ideal for everyday living or hosting guests. Upstairs awaits a large, flexible bonus room; the perfect blank canvas. Transform it into a spacious master suite, a home office, hobby room, or anything your lifestyle calls for. The open layout and generous proportions give you the freedom to customize to your heart's desire. This home is perfect for those who appreciate classic features and want room to grow. Don't miss your chance to schedule a private showing today and imagine the possibilities!

23. 2024-06-14
    soldstatus $53,000
24. 2024-06-12
    soldstatus $53,000 Sold 283-char remark

    Show marketing remark (283 chars)

    Welcome home to this 2 bed, 1 bath well maintained home just outside of Carrollton. With a little TLC, you can earn some instant equity. This home features hard wood floors, spacious kitchen and dining room, and storage wont be an issue with the full basement. Call your agent today.

25. 2024-06-12
    soldstatus $53,000 Closed

    Show marketing remark (283 chars)

    Welcome home to this 2 bed, 1 bath well maintained home just outside of Carrollton. With a little TLC, you can earn some instant equity. This home features hard wood floors, spacious kitchen and dining room, and storage wont be an issue with the full basement. Call your agent today.

26. 2024-05-12
    status Pending 283-char remark

    Show marketing remark (283 chars)

    Welcome home to this 2 bed, 1 bath well maintained home just outside of Carrollton. With a little TLC, you can earn some instant equity. This home features hard wood floors, spacious kitchen and dining room, and storage wont be an issue with the full basement. Call your agent today.

27. 2024-05-12
    status Pending

    Show marketing remark (283 chars)

    Welcome home to this 2 bed, 1 bath well maintained home just outside of Carrollton. With a little TLC, you can earn some instant equity. This home features hard wood floors, spacious kitchen and dining room, and storage wont be an issue with the full basement. Call your agent today.

28. 2024-03-08
    price $55,000

    Show marketing remark (283 chars)

    Welcome home to this 2 bed, 1 bath well maintained home just outside of Carrollton. With a little TLC, you can earn some instant equity. This home features hard wood floors, spacious kitchen and dining room, and storage wont be an issue with the full basement. Call your agent today.

29. 2024-03-08
    price $55,000 283-char remark

    Show marketing remark (283 chars)

    Welcome home to this 2 bed, 1 bath well maintained home just outside of Carrollton. With a little TLC, you can earn some instant equity. This home features hard wood floors, spacious kitchen and dining room, and storage wont be an issue with the full basement. Call your agent today.

30. 2024-02-01
    listed $60,000 Active 283-char remark

    Show marketing remark (283 chars)

    Welcome home to this 2 bed, 1 bath well maintained home just outside of Carrollton. With a little TLC, you can earn some instant equity. This home features hard wood floors, spacious kitchen and dining room, and storage wont be an issue with the full basement. Call your agent today.

31. 2024-02-01
    listed $60,000 Active

    Show marketing remark (283 chars)

    Welcome home to this 2 bed, 1 bath well maintained home just outside of Carrollton. With a little TLC, you can earn some instant equity. This home features hard wood floors, spacious kitchen and dining room, and storage wont be an issue with the full basement. Call your agent today.

32. 2016-08-05
    price $35,000
33. 2016-07-29
    soldstatus $29,000 Sold
34. 2016-07-29
    soldstatus $29,000 Sold
35. 2016-07-29
    soldstatus $29,000 Closed
36. 2016-07-21
    status Pending
37. 2016-07-21
    status Pending
38. 2016-07-21
    status Pending
39. 2016-07-01
    price $35,000
40. 2016-06-30
    price $35,000
41. 2016-06-30
    price $35,000
42. 2016-05-11
    historical
43. 2016-05-11
    listed $39,000 Active
44. 2016-05-10
    listed $39,000 Active
45. 2016-05-10
    listed $39,000 Active
46. 2016-05-10
    listed $39,000 Active
47. 2012-12-11
    historical
48. 2012-12-11
    historical
49. 2012-09-24
    listed $24,900
50. 2012-09-24
    listed $24,900

ⓘ 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: $1,708 · $142/mo
• Projected year-2 tax: $1,708 · $142/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 ≥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: $12,118
• − Mortgage interest: −$3,641
• − Property taxes: −$1,708
• − Insurance: −$325
• − Repairs & maintenance: −$969
• − Management: −$969
• − Depreciation: −$1,891
• Taxable income: $2,614
• Est. tax owed @ 24.0%: −$627
• After-tax cash flow: $2,822/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

-16.7% since first listed

35 events — show timeline

• 2026-02-18 Price Changed $65,000 MiRealSource-MiMLS
• 2026-02-17 Price Changed $65,000 REALCOMP
• 2025-12-24 Price Changed $74,900 MiRealSource-MiMLS
• 2025-12-23 Price Changed $74,900 REALCOMP
• 2025-12-05 Listed $79,900 REALCOMP
• 2025-12-05 Listed $79,900 MiRealSource-MiMLS
• 2024-06-14 Sold (Public Records) $53,000 Public Records
• 2024-06-12 Sold (MLS) $53,000 MiRealSource-MiMLS
• 2024-06-12 Sold (MLS) $53,000 REALCOMP
• 2024-05-12 Pending — REALCOMP
• 2024-05-12 Pending — MiRealSource-MiMLS
• 2024-03-08 Price Changed $55,000 MiRealSource-MiMLS
• 2024-03-08 Price Changed $55,000 REALCOMP
• 2024-02-01 Listed $60,000 MiRealSource-MiMLS
• 2024-02-01 Listed $60,000 REALCOMP
• 2016-08-05 Price Changed $35,000 REALCOMP
• 2016-07-29 Sold (MLS) $29,000 MiRealSource-MiMLS
• 2016-07-29 Sold (MLS) $29,000 REALCOMP
• 2016-07-29 Sold (MLS) $29,000 REALCOMP
• 2016-07-21 Pending — MiRealSource-MiMLS
• 2016-07-21 Pending — REALCOMP
• 2016-07-21 Pending — MiRealSource-MiMLS
• 2016-07-01 Price Changed $35,000 MiRealSource-MiMLS
• 2016-06-30 Price Changed $35,000 MiRealSource-MiMLS
• 2016-06-30 Price Changed $35,000 REALCOMP
• 2016-05-11 Listing Removed — REALCOMP
• 2016-05-11 Listed $39,000 MiRealSource-MiMLS
• 2016-05-10 Listed $39,000 REALCOMP
• 2016-05-10 Listed $39,000 REALCOMP
• 2016-05-10 Listed $39,000 MiRealSource-MiMLS
• 2012-12-11 Listing Removed — REALCOMP
• 2012-12-11 Listing Removed — MiRealSource-MiMLS
• 2012-09-24 Listed $24,900 REALCOMP
• 2012-09-24 Listed $24,900 MiRealSource-MiMLS
• 2006-09-01 Sold (Public Records) $78,000 Public Records

Property tax history

+2.6%/yr

Latest (2025): $1,708 · -23.1% YoY. Source: county tax records.