1804 N Charles St · Saginaw, MI 48602

$89,500

2 bd · 1.0 ba · 874 sqft · SingleFamily public records · 31 Days on market

Built 1921 6,534 sqft lot

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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 +20.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.3/10.0
• 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

Charming 2-bedroom home that’s truly move-in ready! This well-maintained property features a bright and airy sunroom porch perfect for enjoying your morning coffee or unwinding. The spacious basement offers plenty of storage or potential for additional living space. A brand-new water heater (2026) adds peace of mind. Conveniently located near schools, shopping, and everyday essentials, this home offers both comfort and accessibility. Don’t miss this great opportunity!

Key facts

• Sunroom porch
• Spacious basement
• 6,534 sq ft lot

Tags

• SUNROOM PORCH
• SPACIOUS BASEMENT
• BRAND NEW WATER HEATER

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 0.15 acres; Lot dimensions about 163 x 30; Vinyl siding

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: 3 total rooms; Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $116 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($924 rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.

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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $619 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.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $86,815 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.03% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.56%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $59,432
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1815 W Genesee	0.19mi	2/1.0	818 (-6%)	1mo	$74,000	$90	79
1719 N Charles St	0.07mi	3/1.0 (+1)	960 (+10%)	1mo	$37,000	$39	74
2105 Mershon St	0.29mi	2/1.0	822 (-6%)	5mo	$120,000	$146	72
1608 Congress Ave	0.27mi	3/1.0 (+1)	948 (+8%)	3mo	$64,000	$68	66
2312 Durand St	0.56mi	2/1.0	849 (-3%)	4mo	$24,750	$29	66
1523 W Genesee St	0.33mi	3/1.0 (+1)	936 (+7%)	3mo	$53,500	$57	66
2821 Cooper Ave	0.56mi	2/1.0	917 (+5%)	3mo	$95,000	$104	63
2125 State St	0.23mi	3/1.0 (+1)	986 (+13%)	4mo	$40,200	$41	60
1715 Hancock St	0.57mi	2/1.0	970 (+11%)	1mo	$42,500	$44	55
2524 N Carolina St	0.68mi	3/1.0 (+1)	845 (-3%)	7mo	$78,000	$92	52
2513 Barnard St	0.67mi	2/1.0	966 (+10%)	3mo	$41,000	$42	49
2250 Mershon St	0.43mi	2/1.5	1,005 (+15%)	6mo	$104,000	$103	48

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: -6.6%
• Equity multiple: 0.75×
• Total profit: $-6,176
• Equity at exit: $13,345

10-year hold

• IRR: 4.2%
• Equity multiple: 1.32×
• Total profit: $8,039
• Equity at exit: $7,738

Cash invested: $25,060 (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: 8.1×

Monthly cashflow live

• Estimated rent: $924 medium
• Mortgage (P&I): −$469
• Tax from tax record: −$107 /mo · $1,282/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $116

Break-even live

Break-even rent $777

Max offer price $89,500

Occupancy floor 82%

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: $22,375
• Closing costs: $2,685
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-05-21
   price $89,500 484-char remark

   Show marketing remark (484 chars)

   Charming 2-bedroom home that’s truly move-in ready! This well-maintained property features a bright and airy sunroom porch perfect for enjoying your morning coffee or unwinding. The spacious basement offers plenty of storage or potential for additional living space. A brand-new water heater (2026) adds peace of mind. Conveniently located near schools, shopping, and everyday essentials, this home offers both comfort and accessibility. Don’t miss this great opportunity!

2. 2026-05-20
   price $89,500
3. 2026-04-26
   listed $89,900 Active

   Show marketing remark (484 chars)

   Charming 2-bedroom home that’s truly move-in ready! This well-maintained property features a bright and airy sunroom porch perfect for enjoying your morning coffee or unwinding. The spacious basement offers plenty of storage or potential for additional living space. A brand-new water heater (2026) adds peace of mind. Conveniently located near schools, shopping, and everyday essentials, this home offers both comfort and accessibility. Don’t miss this great opportunity!

4. 2026-04-26
   listed $89,900 Active 484-char remark

   Show marketing remark (484 chars)

   Charming 2-bedroom home that’s truly move-in ready! This well-maintained property features a bright and airy sunroom porch perfect for enjoying your morning coffee or unwinding. The spacious basement offers plenty of storage or potential for additional living space. A brand-new water heater (2026) adds peace of mind. Conveniently located near schools, shopping, and everyday essentials, this home offers both comfort and accessibility. Don’t miss this great opportunity!

5. 2024-06-28
   soldstatus $84,900 Sold 197-char remark

   Show marketing remark (197 chars)

   Welcome to this newly updated home. Featuring 3 bedroom, 1 bathroom, new flooring throughout, freshly painted, screened in porch, detached garage and more updates to see! Schedule your appointment!

6. 2024-06-28
   soldstatus $84,900 Closed

   Show marketing remark (197 chars)

   Welcome to this newly updated home. Featuring 3 bedroom, 1 bathroom, new flooring throughout, freshly painted, screened in porch, detached garage and more updates to see! Schedule your appointment!

7. 2024-04-20
   status Pending 197-char remark

   Show marketing remark (197 chars)

   Welcome to this newly updated home. Featuring 3 bedroom, 1 bathroom, new flooring throughout, freshly painted, screened in porch, detached garage and more updates to see! Schedule your appointment!

8. 2024-04-20
   status Pending

   Show marketing remark (197 chars)

   Welcome to this newly updated home. Featuring 3 bedroom, 1 bathroom, new flooring throughout, freshly painted, screened in porch, detached garage and more updates to see! Schedule your appointment!

9. 2024-03-24
   status Active 197-char remark

   Show marketing remark (197 chars)

   Welcome to this newly updated home. Featuring 3 bedroom, 1 bathroom, new flooring throughout, freshly painted, screened in porch, detached garage and more updates to see! Schedule your appointment!

10. 2024-03-24
    status Active

    Show marketing remark (197 chars)

    Welcome to this newly updated home. Featuring 3 bedroom, 1 bathroom, new flooring throughout, freshly painted, screened in porch, detached garage and more updates to see! Schedule your appointment!

11. 2024-03-12
    status Pending 197-char remark

    Show marketing remark (197 chars)

    Welcome to this newly updated home. Featuring 3 bedroom, 1 bathroom, new flooring throughout, freshly painted, screened in porch, detached garage and more updates to see! Schedule your appointment!

12. 2024-03-12
    status Pending

    Show marketing remark (197 chars)

    Welcome to this newly updated home. Featuring 3 bedroom, 1 bathroom, new flooring throughout, freshly painted, screened in porch, detached garage and more updates to see! Schedule your appointment!

13. 2024-02-14
    listed $84,900 Active 197-char remark

    Show marketing remark (197 chars)

    Welcome to this newly updated home. Featuring 3 bedroom, 1 bathroom, new flooring throughout, freshly painted, screened in porch, detached garage and more updates to see! Schedule your appointment!

14. 2024-02-14
    listed $84,900 Active

    Show marketing remark (197 chars)

    Welcome to this newly updated home. Featuring 3 bedroom, 1 bathroom, new flooring throughout, freshly painted, screened in porch, detached garage and more updates to see! Schedule your appointment!

15. 2021-09-07
    soldstatus $25,000 Sold
16. 2021-09-07
    soldstatus $25,000 Closed
17. 2021-08-13
    status Pending
18. 2021-08-13
    status Pending
19. 2021-07-02
    status Active
20. 2021-07-02
    status Active
21. 2021-06-14
    status Pending
22. 2021-06-14
    status Pending
23. 2021-04-01
    price $34,900
24. 2021-03-31
    price $34,900
25. 2021-02-12
    price $39,900
26. 2021-02-12
    price $39,900
27. 2021-01-25
    status Active
28. 2021-01-25
    status Active
29. 2021-01-23
    status Pending
30. 2021-01-23
    status Pending
31. 2021-01-11
    listed $44,900 Active
32. 2021-01-11
    listed $44,900 Active

ⓘ 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: $1,282 · $107/mo
• Projected year-2 tax: $1,330 · $111/mo
• Expected delta: +$48/yr (+$4/mo · 3.8%)

ⓘ 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: $11,082
• − Mortgage interest: −$5,013
• − Property taxes: −$1,282
• − Insurance: −$448
• − Repairs & maintenance: −$887
• − Management: −$887
• − Depreciation: −$2,604
• Taxable loss: −$37
• Est. tax savings @ 24.0%: +$9
• After-tax cash flow: $1,402/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

+99.3% since first listed

32 events — show timeline

• 2026-05-21 Price Changed $89,500 MiRealSource-MiMLS
• 2026-05-20 Price Changed $89,500 REALCOMP
• 2026-04-26 Listed $89,900 REALCOMP
• 2026-04-26 Listed $89,900 MiRealSource-MiMLS
• 2024-06-28 Sold (MLS) $84,900 MiRealSource-MiMLS
• 2024-06-28 Sold (MLS) $84,900 REALCOMP
• 2024-04-20 Pending — REALCOMP
• 2024-04-20 Pending — MiRealSource-MiMLS
• 2024-03-24 Relisted — REALCOMP
• 2024-03-24 Relisted — MiRealSource-MiMLS
• 2024-03-12 Pending — REALCOMP
• 2024-03-12 Pending — MiRealSource-MiMLS
• 2024-02-14 Listed $84,900 MiRealSource-MiMLS
• 2024-02-14 Listed $84,900 REALCOMP
• 2021-09-07 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2021-09-07 Sold (MLS) $25,000 REALCOMP
• 2021-08-13 Pending — REALCOMP
• 2021-08-13 Pending — MiRealSource-MiMLS
• 2021-07-02 Relisted — REALCOMP
• 2021-07-02 Relisted — MiRealSource-MiMLS
• 2021-06-14 Pending — REALCOMP
• 2021-06-14 Pending — MiRealSource-MiMLS
• 2021-04-01 Price Changed $34,900 MiRealSource-MiMLS
• 2021-03-31 Price Changed $34,900 REALCOMP
• 2021-02-12 Price Changed $39,900 MiRealSource-MiMLS
• 2021-02-12 Price Changed $39,900 REALCOMP
• 2021-01-25 Relisted — REALCOMP
• 2021-01-25 Relisted — MiRealSource-MiMLS
• 2021-01-23 Pending — REALCOMP
• 2021-01-23 Pending — MiRealSource-MiMLS
• 2021-01-11 Listed $44,900 MiRealSource-MiMLS
• 2021-01-11 Listed $44,900 REALCOMP

Property tax history

+4.0%/yr

Latest (2025): $1,282 · -37.5% YoY. Source: county tax records.