838 S 13th St · Saginaw, MI 48601

$62,900

3 bd · 1.0 ba · 1,233 sqft · SingleFamily public records · 19 Days on market

Built 1914 6,970 sqft lot Est $43k · 46% over

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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 +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fully updated 3-bedroom, 1-bath home with a full basement and modern updates throughout. Recent improvements include updated flooring, fresh paint, renovated kitchen and bathroom, new roof, and updated windows. This home offers a bright, clean, and move-in ready interior with plenty of space and comfort. A great opportunity with updates already completed. Call today for your personal showing!

Key facts

• Renovated bathroom
• Updated windows
• Full basement

Tags

• FULL BASEMENT
• RENOVATED KITCHEN
• RENOVATED BATHROOM
• NEW ROOF
• UPDATED WINDOWS

Property features AI

Finance

• Other: No additional financial amenities provided
• Financial info: No investor or income/expense details provided
• HOA & community: Homeowners association present

Exterior

• Parking: No parking details provided
• Security: No security features provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding construction; Above-grade finished area listed (no square footage included here)
• Exterior features: Paved road access; Lot dimensions approximately 60 x 120; Lot is residentially zoned

Interior

• Kitchen: No specific kitchen appliance list provided
• Bedrooms: Total rooms: 4
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan(s); Has cooling
• Interior features: Gas water heater; Full basement
• Laundry & utility: No laundry/utility details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Recommended offer: $62k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.1% 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: 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 $435 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 + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $15k; list at $63k implies a 319% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $61,956 (1.5% below list)

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: 1.99% ✓
• Cap rate: 17.10%
• Cash-on-cash: 38.58%
• DSCR: 2.72
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $43,155
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
919 S 4th Ave	0.18mi	3/1.0	1,090 (-12%)	3mo	$4,000	$4	69
2317 Annesely St	0.32mi	3/1.0	1,254 (+2%)	16mo	$4,500	$4	68
814 S 12th St	0.07mi	4/1.0 (+1)	1,106 (-10%)	11mo	$40,000	$36	65
710 S 15th St	0.20mi	3/1.5	1,156 (-6%)	19mo	$33,152	$29	63
3232 Ruckle St	0.56mi	3/1.0	1,174 (-5%)	4mo	$41,000	$35	63
2317 Hartsuff St	0.31mi	4/1.0 (+1)	1,248 (+1%)	19mo	$75,000	$60	62
2312 Phoenix St	0.40mi	3/1.0	1,215 (-2%)	21mo	$70,000	$58	61
2225 Hammel St	0.27mi	3/1.0	1,316 (+7%)	24mo	$10,000	$8	56
2229 Bancroft St	0.29mi	3/1.0	1,092 (-11%)	15mo	$15,000	$14	56
1521 Fenton St	0.41mi	3/1.0	1,100 (-11%)	9mo	$28,000	$25	55
426 S 12th St	0.51mi	4/1.0 (+1)	1,322 (+7%)	21mo	$63,000	$48	42
3003 Rust Ave	0.73mi	4/2.0 (+1)	1,280 (+4%)	24mo	$47,000	$37	31

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: 34.7%
• Equity multiple: 2.47×
• Total profit: $25,885
• Equity at exit: $9,379

10-year hold

• IRR: 41.6%
• Equity multiple: 4.92×
• Total profit: $69,025
• Equity at exit: $5,438

Cash invested: $17,612 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$330
• Tax from tax record: −$65 /mo · $782/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $566

Break-even live

Break-even rent $533

Max offer price $62,900

Occupancy floor 50%

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: $15,725
• Closing costs: $1,887
• 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	0.81mi

Listing history 19 events

1. 2026-06-16
   days on market $62,900 Active 19 DOM
2. 2026-06-15
   days on market $62,900 Active 18 DOM
3. 2026-06-14
   days on market $62,900 Active 16 DOM
4. 2026-06-12
   pricedays on market $62,900 Active 15 DOM
5. 2026-06-09
   days on market $69,900 Active 12 DOM
6. 2026-06-08
   days on market $69,900 Active 11 DOM
7. 2026-06-07
   days on market $69,900 Active 10 DOM
8. 2026-06-05
   days on market $69,900 Active 7 DOM
9. 2026-06-03
   days on market $69,900 Active 6 DOM
10. 2026-06-02
    days on market $69,900 Active 5 DOM
11. 2026-06-01
    days on market $69,900 Active 4 DOM
12. 2026-05-31
    days on market $69,900 Active 3 DOM
13. 2026-05-30
    days on market $69,900 Active 2 DOM
14. 2026-05-20
    historical Active Under Contract

    Show marketing remark (395 chars)

    Fully updated 3-bedroom, 1-bath home with a full basement and modern updates throughout. Recent improvements include updated flooring, fresh paint, renovated kitchen and bathroom, new roof, and updated windows. This home offers a bright, clean, and move-in ready interior with plenty of space and comfort. A great opportunity with updates already completed. Call today for your personal showing!

15. 2026-05-20
    historical Accepting Backup Offers 395-char remark

    Show marketing remark (395 chars)

    Fully updated 3-bedroom, 1-bath home with a full basement and modern updates throughout. Recent improvements include updated flooring, fresh paint, renovated kitchen and bathroom, new roof, and updated windows. This home offers a bright, clean, and move-in ready interior with plenty of space and comfort. A great opportunity with updates already completed. Call today for your personal showing!

16. 2026-05-11
    listed $69,900 Active

    Show marketing remark (395 chars)

    Fully updated 3-bedroom, 1-bath home with a full basement and modern updates throughout. Recent improvements include updated flooring, fresh paint, renovated kitchen and bathroom, new roof, and updated windows. This home offers a bright, clean, and move-in ready interior with plenty of space and comfort. A great opportunity with updates already completed. Call today for your personal showing!

17. 2026-05-11
    listed $69,900 Active 395-char remark

    Show marketing remark (395 chars)

    Fully updated 3-bedroom, 1-bath home with a full basement and modern updates throughout. Recent improvements include updated flooring, fresh paint, renovated kitchen and bathroom, new roof, and updated windows. This home offers a bright, clean, and move-in ready interior with plenty of space and comfort. A great opportunity with updates already completed. Call today for your personal showing!

18. 2013-01-28
    soldstatus $15,000
19. 2000-11-02
    soldstatus $50,561

ⓘ 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: $782 · $65/mo
• Projected year-2 tax: $875 · $73/mo
• Expected delta: +$93/yr (+$8/mo · 11.9%)

ⓘ 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: −$3,523
• − Property taxes: −$782
• − Insurance: −$314
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$1,830
• Taxable income: $6,150
• Est. tax owed @ 24.0%: −$1,476
• After-tax cash flow: $5,319/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
• 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

+38.2% since first listed

6 events — show timeline

• 2026-05-20 Contingent — REALCOMP
• 2026-05-20 Contingent — MiRealSource-MiMLS
• 2026-05-11 Listed $69,900 MiRealSource-MiMLS
• 2026-05-11 Listed $69,900 REALCOMP
• 2013-01-28 Sold (Public Records) $15,000 Public Records
• 2000-11-02 Sold (Public Records) $50,561 Public Records

Property tax history

+0.4%/yr

Latest (2025): $782 · -11.4% YoY. Source: county tax records.