1904 W Michigan Ave · Saginaw, MI 48602

$34,900

3 bd · 1.5 ba · 1,287 sqft · SingleFamily public records · 18 Days on market

Built 1922 6,534 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 3-bedroom, 2-bath home offers spacious living with generously sized closets throughout. Previously used as a long-term rental, this property presents a great investment opportunity for investors looking to expand their portfolio or buyers ready to add their personal touch. Major updates include a newer roof and furnace, both replaced in 2022. With a functional layout and plenty of potential, this property is one you won’t want to miss!

Key facts

• Newer furnace
• Newer roof
• 6,534 sq ft lot

Tags

• NEWER ROOF
• NEWER FURNACE
• GENEROUSLY SIZED CLOSETS

Property features AI

Finance

• Financial info: Annual tax amount listed (removed from details per instructions)
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer
• Home design: Two-story single-family residence; Residential property
• Construction: Brick and vinyl siding exterior
• Exterior features: Lot dimensions approximately 50 x 137

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Basement present; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $34k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.5% 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 $241 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 + 4.0% rent growth), your $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: property tax is 3.6% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,376 (1.5% below list)

Questions for the listing agent

1. Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.90% ✓
• Cap rate: 23.47%
• Cash-on-cash: 61.34%
• DSCR: 3.73
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $83,655
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1843 Kendrick St	0.28mi	3/1.0	1,296 (+1%)	4mo	$47,000	$36	81
1722 Joslin St	0.19mi	3/—	1,293 (+0%)	14mo	$39,250	$30	79
1902 Zauel St	0.20mi	3/1.0	1,241 (-4%)	6mo	$50,000	$40	78
1727 Arthur St	0.28mi	3/2.0	1,284 (-0%)	12mo	$114,900	$89	75
819 Grove St	0.50mi	3/1.0	1,298 (+1%)	3mo	$85,000	$65	70
2116 W Michigan Ave	0.24mi	3/1.0	1,159 (-10%)	4mo	$125,000	$108	67
1830 Zauel St	0.20mi	3/1.5	1,463 (+14%)	7mo	$90,000	$62	62
1757 Burnham Dr	0.19mi	4/1.0 (+1)	1,097 (-15%)	2mo	$63,000	$57	58
1830 Jordan St	0.38mi	3/2.0	1,095 (-15%)	7mo	$80,000	$73	50
1416 Andrew St	0.75mi	3/1.0	1,176 (-9%)	3mo	$153,100	$130	46
1522 Gilbert St	0.51mi	2/1.0 (-1)	1,112 (-14%)	1mo	$67,000	$60	46
1454 Vermont St	0.72mi	3/2.0	1,458 (+13%)	11mo	$101,000	$69	34

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: 61.4%
• Equity multiple: 3.79×
• Total profit: $27,222
• Equity at exit: $5,204

10-year hold

• IRR: 66.4%
• Equity multiple: 8.07×
• Total profit: $69,109
• Equity at exit: $3,018

Cash invested: $9,772 (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: 2.9×

Monthly cashflow live

• Estimated rent: $1,014 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$104 /mo · $1,243/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $500

Break-even live

Break-even rent $381

Max offer price $34,900

Occupancy floor 46%

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: $8,725
• Closing costs: $1,047
• 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	0.16mi
2021 Grout St Saginaw, MI	1.0–2.0	1.0	862	$995	$1.15	44d	1	0.27mi

Listing history 12 events

1. 2026-06-08
   status $34,900 Pending 18 DOM
2. 2026-06-07
   days on market $34,900 Active 18 DOM
3. 2026-06-05
   days on market $34,900 Active 15 DOM
4. 2026-06-03
   days on market $34,900 Active 14 DOM
5. 2026-06-02
   days on market $34,900 Active 13 DOM
6. 2026-06-01
   days on market $34,900 Active 12 DOM
7. 2026-05-31
   days on market $34,900 Active 11 DOM
8. 2026-05-30
   days on market $34,900 Active 10 DOM
9. 2026-05-20
   listed $34,900 Active 450-char remark

   Show marketing remark (450 chars)

   This 3-bedroom, 2-bath home offers spacious living with generously sized closets throughout. Previously used as a long-term rental, this property presents a great investment opportunity for investors looking to expand their portfolio or buyers ready to add their personal touch. Major updates include a newer roof and furnace, both replaced in 2022. With a functional layout and plenty of potential, this property is one you won’t want to miss!

10. 2026-05-20
    listed $34,900 Active

    Show marketing remark (450 chars)

    This 3-bedroom, 2-bath home offers spacious living with generously sized closets throughout. Previously used as a long-term rental, this property presents a great investment opportunity for investors looking to expand their portfolio or buyers ready to add their personal touch. Major updates include a newer roof and furnace, both replaced in 2022. With a functional layout and plenty of potential, this property is one you won’t want to miss!

11. 2015-06-15
    soldstatus $50,000
12. 2003-07-31
    soldstatus $128,000

ⓘ 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: $1,243 · $104/mo
• Projected year-2 tax: $1,243 · $104/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: $12,163
• − Mortgage interest: −$1,955
• − Property taxes: −$1,243
• − Insurance: −$174
• − Repairs & maintenance: −$973
• − Management: −$973
• − Depreciation: −$1,015
• Taxable income: $5,829
• Est. tax owed @ 24.0%: −$1,399
• After-tax cash flow: $4,596/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

-72.7% since first listed

4 events — show timeline

• 2026-05-20 Listed $34,900 REALCOMP
• 2026-05-20 Listed $34,900 MiRealSource-MiMLS
• 2015-06-15 Sold (Public Records) $50,000 Public Records
• 2003-07-31 Sold (Public Records) $128,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $1,243 · -16.3% YoY. Source: county tax records.