1024 S 24th St · Buena Vista, MI 48601

$48,000

3 bd · 1.0 ba · 888 sqft · SingleFamily public records · 116 Days on market

Built 1955 6,970 sqft lot Est $42k · 15% over

---

Why this score? — see what drove the C+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.7/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 3-bedroom ranch in Buena Vista Twp with a detached 2-car garage and a nice-sized 0.15-acre lot (60x114). 888 sq ft with a functional layout and 1 full bath. Great opportunity for an owner-occupant looking to build sweat equity or an investor seeking their next project. Convenient location with easy access to local amenities.

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 1955

Property features AI

Finance

• Other: Property listed as residential — single family
• Financial info: Financial details not specified
• HOA & community: HOA details not specified

Exterior

• Parking: Detached 2-car garage
• Security: Security details not specified
• Utilities: Public sewer; Other water source
• Home design: Single-family residence; One story; Ground-level entry with steps; Vinyl siding
• Construction: Vinyl siding construction; Above-grade finished area approximately 888 square feet
• Exterior features: Paved road access; Lot dimensions approximately 60 x 114.12; Lot size about 0.16 acres; No pool

Interior

• Kitchen: Kitchen details not specified
• Bedrooms: Bedrooms not specified
• Flooring: Flooring details not specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central air
• Interior features: Crawl space basement; Total of 3 rooms
• Laundry & utility: Laundry details not specified

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $665 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $48k).
• Recommended offer: $44k (9.0% below list) — sets the bar for market timing.
• Cap rate 22.9% vs local median 11.7% in Buena Vista — 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 59/100 on livability (#615 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing B+; Watch: health & safety C-, schools F, crime 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: 199 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 $332 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 116 days — a 9% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 12y 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.
• Current owner paid $24k; list at $48k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,680 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 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 1955 — 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. 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: 2.60% ✓
• Cap rate: 22.92%
• Cash-on-cash: 59.37%
• DSCR: 3.64
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $41,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
945 S 27th St	0.15mi	3/1.0	884 (-0%)	2mo	$13,000	$15	91
812 25th St	0.23mi	3/1.0	864 (-3%)	12mo	$59,900	$69	75
2420 Bancroft St	0.42mi	2/1.0 (-1)	845 (-5%)	4mo	$60,000	$71	64
2143 Whittier St	0.53mi	3/1.0	845 (-5%)	8mo	$50,000	$59	60
3015 Perkins St	0.37mi	3/1.0	960 (+8%)	12mo	$63,500	$66	59
2316 Whittier St	0.40mi	2/1.0 (-1)	932 (+5%)	11mo	$11,250	$12	59
523 S 29th St	0.62mi	3/1.0	864 (-3%)	10mo	$75,000	$87	58
2021 Cumberland St	0.66mi	2/1.0 (-1)	874 (-2%)	5mo	$14,500	$17	57
645 S 23rd	0.40mi	2/1.0 (-1)	780 (-12%)	6mo	$37,000	$47	50
455 S 24th St	0.62mi	2/1.0 (-1)	840 (-5%)	9mo	$30,000	$36	49
415 S 27th St	0.72mi	2/1.0 (-1)	864 (-3%)	11mo	$33,000	$38	48
2523 E Holland Ave	0.57mi	2/1.0 (-1)	987 (+11%)	8mo	$18,100	$18	43

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: 58.1%
• Equity multiple: 3.57×
• Total profit: $34,586
• Equity at exit: $7,157

10-year hold

• IRR: 62.9%
• Equity multiple: 7.30×
• Total profit: $84,705
• Equity at exit: $4,150

Cash invested: $13,440 (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: 199
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$252
• Tax from tax record: −$51 /mo · $610/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $665

Break-even live

Break-even rent $408

Max offer price $48,000

Occupancy floor 42%

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: $12,000
• Closing costs: $1,440
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3328 Webber St Saginaw, MI	3.0	1.0	878	$1,250	$1.42	43d	1	1.06mi

Listing history 45 events

1. 2026-06-19
   days on market $48,000 Active 116 DOM
2. 2026-06-18
   days on market $48,000 Active 115 DOM
3. 2026-06-17
   days on market $48,000 Active 114 DOM
4. 2026-06-16
   days on market $48,000 Active 113 DOM
5. 2026-06-15
   days on market $48,000 Active 112 DOM
6. 2026-06-14
   days on market $48,000 Active 110 DOM
7. 2026-06-12
   days on market $48,000 Active 109 DOM
8. 2026-06-09
   days on market $48,000 Active 106 DOM
9. 2026-06-08
   days on market $48,000 Active 105 DOM
10. 2026-06-07
    days on market $48,000 Active 104 DOM
11. 2026-06-05
    days on market $48,000 Active 101 DOM
12. 2026-06-03
    days on market $48,000 Active 100 DOM
13. 2026-06-02
    days on market $48,000 Active 99 DOM
14. 2026-06-01
    days on market $48,000 Active 98 DOM
15. 2026-05-31
    days on market $48,000 Active 97 DOM
16. 2026-05-30
    days on market $48,000 Active 96 DOM
17. 2026-02-23
    listed $48,000 Active

    Show marketing remark (331 chars)

    Cozy 3-bedroom ranch in Buena Vista Twp with a detached 2-car garage and a nice-sized 0.15-acre lot (60x114). 888 sq ft with a functional layout and 1 full bath. Great opportunity for an owner-occupant looking to build sweat equity or an investor seeking their next project. Convenient location with easy access to local amenities.

18. 2026-02-23
    listed $48,000 Active 331-char remark

    Show marketing remark (331 chars)

    Cozy 3-bedroom ranch in Buena Vista Twp with a detached 2-car garage and a nice-sized 0.15-acre lot (60x114). 888 sq ft with a functional layout and 1 full bath. Great opportunity for an owner-occupant looking to build sweat equity or an investor seeking their next project. Convenient location with easy access to local amenities.

19. 2022-01-05
    soldstatus $24,000 Sold 96-char remark

    Show marketing remark (96 chars)

    Home features 3 bedrooms & 1 bath. Updated windows, wood floors through out, updated bath.

20. 2022-01-05
    soldstatus $24,000 Closed

    Show marketing remark (96 chars)

    Home features 3 bedrooms & 1 bath. Updated windows, wood floors through out, updated bath.

21. 2021-12-29
    status Pending 96-char remark

    Show marketing remark (96 chars)

    Home features 3 bedrooms & 1 bath. Updated windows, wood floors through out, updated bath.

22. 2021-12-29
    status Pending

    Show marketing remark (96 chars)

    Home features 3 bedrooms & 1 bath. Updated windows, wood floors through out, updated bath.

23. 2021-12-27
    status Active 96-char remark

    Show marketing remark (96 chars)

    Home features 3 bedrooms & 1 bath. Updated windows, wood floors through out, updated bath.

24. 2021-12-27
    status Active

    Show marketing remark (96 chars)

    Home features 3 bedrooms & 1 bath. Updated windows, wood floors through out, updated bath.

25. 2021-12-20
    status Pending 96-char remark

    Show marketing remark (96 chars)

    Home features 3 bedrooms & 1 bath. Updated windows, wood floors through out, updated bath.

26. 2021-12-20
    status Pending

    Show marketing remark (96 chars)

    Home features 3 bedrooms & 1 bath. Updated windows, wood floors through out, updated bath.

27. 2021-12-14
    listed $29,900 Active 96-char remark

    Show marketing remark (96 chars)

    Home features 3 bedrooms & 1 bath. Updated windows, wood floors through out, updated bath.

28. 2021-12-14
    listed $29,900 Active

    Show marketing remark (96 chars)

    Home features 3 bedrooms & 1 bath. Updated windows, wood floors through out, updated bath.

29. 2019-04-25
    soldstatus $15,000 Sold
30. 2019-04-25
    soldstatus $15,000 Closed
31. 2019-04-18
    listed $22,000 Active
32. 2019-04-18
    listed $22,000 Active
33. 2019-04-17
    status Pending
34. 2019-04-17
    historical
35. 2019-04-17
    status Pending
36. 2019-04-17
    historical
37. 2019-02-14
    status Active
38. 2019-02-11
    status Pending
39. 2019-01-14
    listed $22,000 Active
40. 2019-01-14
    listed $22,000 Active
41. 2014-08-14
    soldstatus $9,000
42. 2014-08-14
    soldstatus $9,000
43. 2014-07-25
    listed $11,900
44. 2014-07-25
    historical
45. 2014-07-25
    listed $11,900

ⓘ 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: $610 · $51/mo
• Projected year-2 tax: $675 · $56/mo
• Expected delta: +$65/yr (+$5/mo · 10.6%)

ⓘ 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 ≥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: $15,000
• − Mortgage interest: −$2,689
• − Property taxes: −$610
• − Insurance: −$240
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$1,396
• Taxable income: $7,665
• Est. tax owed @ 24.0%: −$1,840
• After-tax cash flow: $6,140/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 — Buena Vista

• Score: 59/100
• State rank: #615
• US rank: #20603

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing B+ Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buena Vista, MI
• City population: 32,069
• 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

+303.4% since first listed

29 events — show timeline

• 2026-02-23 Listed $48,000 REALCOMP
• 2026-02-23 Listed $48,000 MiRealSource-MiMLS
• 2022-01-05 Sold (MLS) $24,000 MiRealSource-MiMLS
• 2022-01-05 Sold (MLS) $24,000 REALCOMP
• 2021-12-29 Pending — REALCOMP
• 2021-12-29 Pending — MiRealSource-MiMLS
• 2021-12-27 Relisted — REALCOMP
• 2021-12-27 Relisted — MiRealSource-MiMLS
• 2021-12-20 Pending — REALCOMP
• 2021-12-20 Pending — MiRealSource-MiMLS
• 2021-12-14 Listed $29,900 MiRealSource-MiMLS
• 2021-12-14 Listed $29,900 REALCOMP
• 2019-04-25 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2019-04-25 Sold (MLS) $15,000 REALCOMP
• 2019-04-18 Listed $22,000 MiRealSource-MiMLS
• 2019-04-18 Listed $22,000 REALCOMP
• 2019-04-17 Pending — REALCOMP
• 2019-04-17 Listing Removed — REALCOMP
• 2019-04-17 Pending — MiRealSource-MiMLS
• 2019-04-17 Listing Removed — MiRealSource-MiMLS
• 2019-02-14 Relisted — MiRealSource-MiMLS
• 2019-02-11 Pending — MiRealSource-MiMLS
• 2019-01-14 Listed $22,000 MiRealSource-MiMLS
• 2019-01-14 Listed $22,000 REALCOMP
• 2014-08-14 Sold (MLS) $9,000 MiRealSource-MiMLS
• 2014-08-14 Sold (MLS) $9,000 REALCOMP
• 2014-07-25 Listed $11,900 MiRealSource-MiMLS
• 2014-07-25 Listing Removed — MiRealSource-MiMLS
• 2014-07-25 Listed $11,900 REALCOMP

Property tax history

-3.0%/yr

Latest (2025): $610 · -50.3% YoY. Source: county tax records.