413 N Bond St · Saginaw, MI 48602

$23,000

6 bd · 2.0 ba · 3,090 sqft · SingleFamily public records · 291 Days on market

Built 1899 5,662 sqft lot ↓ 8% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Great Investment opportunity. Fix up property and rent out this 6-bedroom 2-bathroom duplex! Tons of space almost 3100 sqft. Had a fire in the attic dormer, fire damage is 7 rafters wide.

Key facts

• 5,662 sq ft lot
• Built 1899
• Listed 290 days

Property features AI

Finance

• Other: Lot size approximately 0.13 acre (50 frontage)
• Financial info: Land contract available (yes) with terms shown: 36 months, $5,000 down, $500 monthly, 10% interest

Exterior

• Utilities: Public water at the street; Public sewer at the street; No heating/fuel type specified
• Home design: Residential 2-story home; Built in 1899
• Construction: Wood construction; Basement foundation
• Exterior features: Wood exterior construction; Road frontage

Interior

• Kitchen: First-floor kitchen with wood flooring (approx. 10 x 10)
• Bedrooms: Six first-floor bedrooms with wood flooring (each approximately 10 x 10)
• Flooring: Wood flooring throughout main living areas, bedrooms and bathrooms
• Bathrooms: Two full bathrooms; Bathroom 1 on first floor with wood flooring (approx. 10 x 10); Bathroom 2 on second floor with wood flooring (approx. 10 x 10)
• Interior features: Total of 10 rooms; Basement present

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath single-family listed at $23k.

Deal economics

• At list price, monthly cash flow is $911 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $23k).
• Recommended offer: $20k (12.0% below list) — sets the bar for market timing.
• Cap rate 53.8% 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; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% 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 $159 of loan paydown is wiped out by about $690 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 291 days — a 12% lower offer ($20k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask is 24% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $20,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 291 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 1899 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.89% ✓
• Cap rate: 53.82%
• Cash-on-cash: 169.75%
• DSCR: 8.55
• GRM: 1.4

CMA / ARV

• ARV (on-the-fly): $83,430
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1009 Court St	0.26mi	6/3.0	3,146 (+2%)	17mo	$85,000	$27	67
403 S Harrison St	0.50mi	6/1.5	3,088 (-0%)	11mo	$75,000	$24	65
2213 Court St	0.70mi	5/2.5 (-1)	2,723 (-12%)	20mo	$239,900	$88	24

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: —
• Equity multiple: 9.64×
• Total profit: $55,664
• Equity at exit: $3,429

10-year hold

• IRR: —
• Equity multiple: 21.02×
• Total profit: $128,912
• Equity at exit: $1,989

Cash invested: $6,440 (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 48602

• Home prices YoY: -19.7%
• Rents YoY: 4.0%
• Active inventory: 250
• Price-to-rent: 1.4×

Monthly cashflow live

• Estimated rent: $1,354 medium
• Mortgage (P&I): −$121
• Tax est. 1.5%: −$29 /mo · $345/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $911

Break-even live

Break-even rent $201

Max offer price $23,000

Occupancy floor 28%

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: $5,750
• Closing costs: $690
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-19
   days on market $23,000 Active 291 DOM
2. 2026-06-18
   days on market $23,000 Active 290 DOM
3. 2026-06-17
   days on market $23,000 Active 289 DOM
4. 2026-06-16
   days on market $23,000 Active 288 DOM
5. 2026-06-15
   days on market $23,000 Active 287 DOM
6. 2026-06-14
   days on market $23,000 Active 285 DOM
7. 2026-06-12
   days on market $23,000 Active 284 DOM
8. 2026-06-09
   days on market $23,000 Active 281 DOM
9. 2026-06-08
   days on market $23,000 Active 280 DOM
10. 2026-06-07
    days on market $23,000 Active 279 DOM
11. 2026-06-05
    days on market $23,000 Active 276 DOM
12. 2026-06-03
    days on market $23,000 Active 275 DOM
13. 2026-06-02
    days on market $23,000 Active 274 DOM
14. 2026-06-01
    days on market $23,000 Active 273 DOM
15. 2026-05-31
    days on market $23,000 Active 272 DOM
16. 2026-05-30
    days on market $23,000 Active 271 DOM
17. 2025-09-02
    price $23,000
18. 2025-08-31
    listed $18,500 Active
19. 2025-06-20
    soldstatus $25,000 Closed 187-char remark

    Show marketing remark (187 chars)

    Great Investment opportunity. Fix up property and rent out this 6-bedroom 2-bathroom duplex! Tons of space almost 3100 sqft. Had a fire in the attic dormer, fire damage is 7 rafters wide.

20. 2025-06-11
    status Pending 187-char remark

    Show marketing remark (187 chars)

    Great Investment opportunity. Fix up property and rent out this 6-bedroom 2-bathroom duplex! Tons of space almost 3100 sqft. Had a fire in the attic dormer, fire damage is 7 rafters wide.

21. 2025-06-04
    price $17,500 187-char remark

    Show marketing remark (187 chars)

    Great Investment opportunity. Fix up property and rent out this 6-bedroom 2-bathroom duplex! Tons of space almost 3100 sqft. Had a fire in the attic dormer, fire damage is 7 rafters wide.

22. 2025-05-16
    price $19,000 187-char remark

    Show marketing remark (187 chars)

    Great Investment opportunity. Fix up property and rent out this 6-bedroom 2-bathroom duplex! Tons of space almost 3100 sqft. Had a fire in the attic dormer, fire damage is 7 rafters wide.

23. 2025-04-19
    listed $20,000 Active 187-char remark

    Show marketing remark (187 chars)

    Great Investment opportunity. Fix up property and rent out this 6-bedroom 2-bathroom duplex! Tons of space almost 3100 sqft. Had a fire in the attic dormer, fire damage is 7 rafters wide.

24. 2023-02-24
    historical
25. 2022-12-30
    price $9,500
26. 2022-12-01
    price $17,000
27. 2022-11-23
    listed $25,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $16,252
• − Mortgage interest: −$1,288
• − Property taxes: −$345
• − Insurance: −$115
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$669
• Taxable income: $11,235
• Est. tax owed @ 24.0%: −$2,696
• After-tax cash flow: $8,236/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

-8.0% since first listed

11 events — show timeline

• 2025-09-02 Price Changed $23,000 MiRealSource-MiMLS
• 2025-08-31 Listed $18,500 MiRealSource-MiMLS
• 2025-06-20 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2025-06-11 Pending — MiRealSource-MiMLS
• 2025-06-04 Price Changed $17,500 MiRealSource-MiMLS
• 2025-05-16 Price Changed $19,000 MiRealSource-MiMLS
• 2025-04-19 Listed $20,000 MiRealSource-MiMLS
• 2023-02-24 Listing Removed — MiRealSource-MiMLS
• 2022-12-30 Price Changed $9,500 MiRealSource-MiMLS
• 2022-12-01 Price Changed $17,000 MiRealSource-MiMLS
• 2022-11-23 Listed $25,000 MiRealSource-MiMLS

Property tax history

-0.5%/yr

Latest (2025): $1,550 · -13.9% YoY. Source: county tax records.