123 Clark St · Chesaning, MI 48616

$75,900

3 bd · 1.5 ba · 1,315 sqft · SingleFamily public records · 142 Days on market

Built 1890 8,712 sqft lot $58/sqft · 44% below area Est $146k · 48% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLER! Great invest opportunity or fixer-upper home in the quaint village of Chesaning. Home has tons of potential, previously used as a rental. Home features nice layout with large rooms and 2 full bathrooms. Home has been winterized as of 1/2026.

Key facts

• 8,712 sq ft lot
• Built 1890
• Listed 142 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $404 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#220 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment D-.
• Chesaning Union Schools (rural): math 41% / reading 48% proficiency, ranked #153 of 540 in MI (top 28%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 28 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 $525 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 $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago; this cycle's ask has dropped $24k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; list at $76k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,792 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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 1890 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.51% ✓
• Cap rate: 12.68%
• Cash-on-cash: 22.83%
• DSCR: 2.02
• GRM: 5.5

CMA / ARV

• ARV (median comp): $146,454
• List price: $75,900
• Delta: -48.18%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
514 Jackson St	0.16mi	3/1.5	1,290 (-2%)	6mo	$140,000	$109	84
527 N Line St	0.26mi	3/1.0	1,354 (+3%)	3mo	$116,000	$86	79
124 N Line St	0.09mi	3/1.0	1,244 (-5%)	10mo	$135,000	$109	77
618 N 1st St	0.35mi	4/2.0 (+1)	1,250 (-5%)	3mo	$121,000	$97	66
829 Brady St	0.17mi	3/1.0	1,120 (-15%)	2mo	$42,468	$38	64
921 S Front St	0.72mi	3/1.0	1,300 (-1%)	2mo	$160,000	$123	61
631 Center St	0.66mi	3/2.0	1,330 (+1%)	5mo	$118,000	$89	61
324 Andres St	0.62mi	3/1.5	1,400 (+6%)	4mo	$190,000	$136	57
128 Pearl St	0.27mi	3/3.0	1,467 (+12%)	7mo	$40,000	$27	56
621 Lockwood St	0.38mi	3/2.0	1,487 (+13%)	5mo	$157,000	$106	55
405 Andress St	0.60mi	3/1.5	1,440 (+10%)	10mo	$170,000	$118	48
1017 N Line St	0.59mi	4/1.0 (+1)	1,476 (+12%)	8mo	$175,000	$119	39

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: 15.8%
• Equity multiple: 1.63×
• Total profit: $13,454
• Equity at exit: $11,317

10-year hold

• IRR: 24.4%
• Equity multiple: 3.11×
• Total profit: $44,890
• Equity at exit: $6,562

Cash invested: $21,252 (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 48616

• Active inventory: 28
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,150 medium
• Mortgage (P&I): −$398
• Tax from tax record: −$74 /mo · $892/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$241
• Net cashflow: $404

Break-even live

Break-even rent $638

Max offer price $75,900

Occupancy floor 60%

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: $18,975
• Closing costs: $2,277
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-04
   days on market $75,900 Active 142 DOM
2. 2026-06-02
   days on market $75,900 Active 141 DOM
3. 2026-06-01
   days on market $75,900 Active 140 DOM
4. 2026-05-31
   days on market $75,900 Active 139 DOM
5. 2026-05-31
   days on market $75,900 Active 138 DOM
6. 2026-05-20
   price $75,900 260-char remark

   Show marketing remark (260 chars)

   MOTIVATED SELLER! Great invest opportunity or fixer-upper home in the quaint village of Chesaning. Home has tons of potential, previously used as a rental. Home features nice layout with large rooms and 2 full bathrooms. Home has been winterized as of 1/2026.

7. 2026-05-19
   price $75,900 260-char remark

   Show marketing remark (260 chars)

   MOTIVATED SELLER! Great invest opportunity or fixer-upper home in the quaint village of Chesaning. Home has tons of potential, previously used as a rental. Home features nice layout with large rooms and 2 full bathrooms. Home has been winterized as of 1/2026.

8. 2026-03-08
   price $79,000 260-char remark

   Show marketing remark (260 chars)

   MOTIVATED SELLER! Great invest opportunity or fixer-upper home in the quaint village of Chesaning. Home has tons of potential, previously used as a rental. Home features nice layout with large rooms and 2 full bathrooms. Home has been winterized as of 1/2026.

9. 2026-03-08
   price $79,000 260-char remark

   Show marketing remark (260 chars)

   MOTIVATED SELLER! Great invest opportunity or fixer-upper home in the quaint village of Chesaning. Home has tons of potential, previously used as a rental. Home features nice layout with large rooms and 2 full bathrooms. Home has been winterized as of 1/2026.

10. 2026-01-12
    listed $99,900 Active 260-char remark

    Show marketing remark (260 chars)

    MOTIVATED SELLER! Great invest opportunity or fixer-upper home in the quaint village of Chesaning. Home has tons of potential, previously used as a rental. Home features nice layout with large rooms and 2 full bathrooms. Home has been winterized as of 1/2026.

11. 2026-01-12
    listed $99,900 Active 260-char remark

    Show marketing remark (260 chars)

    MOTIVATED SELLER! Great invest opportunity or fixer-upper home in the quaint village of Chesaning. Home has tons of potential, previously used as a rental. Home features nice layout with large rooms and 2 full bathrooms. Home has been winterized as of 1/2026.

12. 2012-08-24
    historical
13. 2012-08-24
    historical
14. 2012-05-31
    listed $15,210
15. 2012-05-31
    listed $15,210
16. 2007-08-06
    soldstatus $40,000
17. 2007-08-06
    soldstatus $40,000
18. 2007-06-25
    historical
19. 2007-03-22
    listed $45,000
20. 2007-03-22
    listed $45,000
21. 2004-12-13
    historical
22. 2004-12-13
    historical
23. 2004-10-06
    listed $105,000
24. 2004-10-06
    listed $105,000
25. 1999-12-02
    soldstatus $55,000

ⓘ 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: $892 · $74/mo
• Projected year-2 tax: $1,030 · $86/mo
• Expected delta: +$138/yr (+$12/mo · 15.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 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: $13,796
• − Mortgage interest: −$4,252
• − Property taxes: −$892
• − Insurance: −$380
• − Repairs & maintenance: −$1,104
• − Management: −$1,104
• − Depreciation: −$2,208
• Taxable income: $3,858
• Est. tax owed @ 24.0%: −$926
• After-tax cash flow: $3,925/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: Chesaning Union Schools
• NCES district ID: 2609150
• Math proficiency: 41% ▼ -11.00%
• Reading proficiency: 48% ▼ -14.00%
• Median HH income: $45,955
• Composite: 37.82/100
• National rank: #4333
• State rank: #153 of 540 in MI

Livability — Chesaning

• Score: 73/100
• State rank: #220
• US rank: #5464

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment D- Housing A+ Health & safety A- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Chesaning, MI
• City population: 7,702
• Population (ZIP): 7,702

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: Predominantly White (92%)
• Race & ethnicity: White 92% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 6% Lithuanian 1% Italian 1%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Chinese 1%

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: ▼ -139.12%
• Current HPI: 199.0192
• 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

+38.0% since first listed

20 events — show timeline

• 2026-05-20 Price Changed $75,900 MiRealSource-MiMLS
• 2026-05-19 Price Changed $75,900 REALCOMP
• 2026-03-08 Price Changed $79,000 MiRealSource-MiMLS
• 2026-03-08 Price Changed $79,000 REALCOMP
• 2026-01-12 Listed $99,900 REALCOMP
• 2026-01-12 Listed $99,900 MiRealSource-MiMLS
• 2012-08-24 Listing Removed — REALCOMP
• 2012-08-24 Listing Removed — MiRealSource-MiMLS
• 2012-05-31 Listed $15,210 REALCOMP
• 2012-05-31 Listed $15,210 MiRealSource-MiMLS
• 2007-08-06 Sold (MLS) $40,000 REALCOMP
• 2007-08-06 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2007-06-25 Listing Removed — MiRealSource-MiMLS
• 2007-03-22 Listed $45,000 REALCOMP
• 2007-03-22 Listed $45,000 MiRealSource-MiMLS
• 2004-12-13 Listing Removed — REALCOMP
• 2004-12-13 Listing Removed — MiRealSource-MiMLS
• 2004-10-06 Listed $105,000 REALCOMP
• 2004-10-06 Listed $105,000 MiRealSource-MiMLS
• 1999-12-02 Sold (Public Records) $55,000 Public Records

Property tax history

-3.8%/yr

Latest (2025): $892 · -55.5% YoY. Source: county tax records.