903 S Mason St · Saginaw, MI 48602

$100,000

5 bd · 2.0 ba · 1,926 sqft · SingleFamily public records · 3 Days on market

Built 1931 5,663 sqft lot Est $110k · 9% 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 +27.9/30.0
• ARV discount +11.5/15.0
• DSCR +9.9/10.0
• 1% rule +8.2/10.0
• 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

This beautifully updated 5-bedroom, 2-bath home offers the perfect blend of space, style, and functionality. Be welcomed by an open floor plan that creates a bright and inviting atmosphere, ideal for both everyday living and entertaining. The updated interior provides a modern feel while still offering warmth and comfort throughout. Each of the five bedrooms is generously sized with great closet space and built-ins, adding both character and convenience. With two full bathrooms and plenty of room for family, guests, or a home office, this home offers flexibility for a variety of lifestyles. The property is currently tenant-occupied, with the tenant paying $800 per month, making this a perfect opportunity for investors looking to build their portfolio.

Key facts

• 5,663 sq ft lot
• 2 garage spots
• Built 1931

Property features AI

Finance

• Other: Residential property listed by Century 21 Signature Realty
• HOA & community: Homeowners association present

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half story
• Construction: Vinyl siding
• Exterior features: Lot roughly 50 x 120 (0.13 acres); No pool

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Full basement; 8 total rooms

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 10.0% vs local median 7.8% in Saginaw — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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).
• This rent runs 34% of the median local income ($47k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 23y 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 $23k; list at $100k implies a 327% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1931 — 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: 1.32% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.23%
• DSCR: 1.59
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $109,782
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1930 Brockway St	0.65mi	5/2.0	1,896 (-2%)	9mo	$45,000	$24	60
1421 Mackinaw St	0.25mi	4/1.5 (-1)	2,134 (+11%)	12mo	$155,000	$73	53
1209 S Fayette St	0.44mi	4/1.0 (-1)	2,058 (+7%)	9mo	$35,000	$17	51
1530 Ottawa Blvd	0.30mi	4/2.5 (-1)	2,136 (+11%)	11mo	$137,000	$64	51
1827 Gratiot Ave	0.54mi	4/2.0 (-1)	2,000 (+4%)	19mo	$265,000	$133	47
210 N Bond St	0.65mi	5/2.0	1,864 (-3%)	21mo	$69,900	$38	47
1021 Mackinaw St	0.27mi	4/1.5 (-1)	1,640 (-15%)	15mo	$90,000	$55	43
1032 Sutton St	0.63mi	4/2.0 (-1)	1,660 (-14%)	3mo	$125,000	$75	40
1323 S Michigan Ave	0.53mi	4/2.0 (-1)	2,125 (+10%)	17mo	$25,000	$12	39
124 N Woodbridge St	0.58mi	6/2.0 (+1)	2,144 (+11%)	19mo	$122,000	$57	33
825 Malzahn St	0.65mi	4/1.5 (-1)	1,726 (-10%)	17mo	$108,000	$63	31
1715 S Michigan Ave	0.67mi	4/1.5 (-1)	2,146 (+11%)	16mo	$118,000	$55	29

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: 4.4%
• Equity multiple: 1.17×
• Total profit: $4,825
• Equity at exit: $14,910

10-year hold

• IRR: 14.8%
• Equity multiple: 2.26×
• Total profit: $35,220
• Equity at exit: $8,646

Cash invested: $28,000 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,320 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$168 /mo · $2,020/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $309

Break-even live

Break-even rent $930

Max offer price $100,000

Occupancy floor 72%

Sensitivity live

Price	-10% $365	-5% $337	+0% $309	+5% $281	+10% $252
Rent	-10% $204	-5% $257	+0% $309	+5% $361	+10% $413
Rate	-1.0pp $359	-0.5pp $334	base $309	+0.5pp $283	+1.0pp $257

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-19
   days on market $100,000 Active 3 DOM
2. 2026-06-18
   days on market $100,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $100,000 Active 1 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: $2,020 · $168/mo
• Projected year-2 tax: $2,020 · $168/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: $15,846
• − Mortgage interest: −$5,602
• − Property taxes: −$2,020
• − Insurance: −$500
• − Repairs & maintenance: −$1,268
• − Management: −$1,268
• − Depreciation: −$2,909
• Taxable income: $2,280
• Est. tax owed @ 24.0%: −$547
• After-tax cash flow: $3,158/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

+33.5% since first listed

31 events — show timeline

• 2026-06-16 Listed $100,000 REALCOMP
• 2026-06-16 Listed $100,000 MiRealSource-MiMLS
• 2021-12-13 Listing Removed — REALCOMP
• 2021-12-13 Listing Removed — MiRealSource-MiMLS
• 2021-06-17 Relisted — REALCOMP
• 2021-06-17 Relisted — MiRealSource-MiMLS
• 2021-05-17 Pending — REALCOMP
• 2021-05-17 Pending — MiRealSource-MiMLS
• 2021-05-04 Relisted — REALCOMP
• 2021-05-04 Relisted — MiRealSource-MiMLS
• 2021-04-24 Pending — REALCOMP
• 2021-04-24 Pending — MiRealSource-MiMLS
• 2021-01-13 Price Changed $61,900 MiRealSource-MiMLS
• 2021-01-13 Price Changed $61,900 REALCOMP
• 2020-12-18 Listed $69,900 MiRealSource-MiMLS
• 2020-12-18 Listed $69,900 REALCOMP
• 2018-02-20 Sold (MLS) $23,430 MiRealSource-MiMLS
• 2018-02-20 Sold (MLS) $23,430 REALCOMP
• 2018-02-06 Pending — MiRealSource-MiMLS
• 2017-09-01 Listed $23,430 MiRealSource-MiMLS
• 2017-09-01 Listed $23,430 REALCOMP
• 2017-03-17 Listing Removed — MiRealSource-MiMLS
• 2017-03-17 Listing Removed — REALCOMP
• 2017-01-04 Listed $25,000 MiRealSource-MiMLS
• 2017-01-03 Listed $25,000 REALCOMP
• 2004-07-08 Sold (Public Records) $79,000 Public Records
• 2004-06-02 Listing Removed — MiRealSource-MiMLS
• 2004-05-28 Sold (MLS) $79,000 REALCOMP
• 2004-05-28 Sold (MLS) $79,000 MiRealSource-MiMLS
• 2003-09-01 Listed $74,900 REALCOMP
• 2003-09-01 Listed $74,900 MiRealSource-MiMLS

Property tax history

+3.4%/yr

Latest (2025): $2,020 · -16.3% YoY. Source: county tax records.