12041 Sanders Dr · Tittabawassee, MI 48623

$240,000

4 bd · 2.0 ba · 1,494 sqft · SingleFamily public records · 193 Days on market

Built 1972 0.37 ac lot $161/sqft · 13% below area Est $277k · 13% under

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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 +16.4/30.0
• ARV discount +13.5/15.0
• DSCR +5.1/10.0
• Schools +5.1/10.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 12041 Sanders Drive, a 4 bedroom, 2 full bathroom ranch located in the highly desirable Freeland School District. This home features a primary bedroom with private en suite bath, an eat in kitchen, and a spacious living room with plenty of natural light. The finished basement offers additional living space ideal for a family room, home office, or recreation area. Additional features include a 2.5 car garage, fenced in backyard, and a covered patio perfect for outdoor enjoyment. Conveniently located near schools, parks, and everyday amenities.

Key facts

• Laundry room
• Workshop area
• Covered patio

Tags

• PARTIALLY FINISHED BASEMENT
• LAUNDRY ROOM
• DEDICATED STORAGE ROOM
• WORKSHOP AREA
• FENCED BACKYARD
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $198k (17.5% below list).
• Recommended offer: $198k (17.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Freeland Community School District (suburban): math 54% / reading 61% proficiency, ranked #46 of 540 in MI (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 15% free/reduced lunch — higher-income household profile.
• Market conditions: 96 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 $2k of loan paydown is wiped out by about $7k 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 193 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y 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.

Recommended offer $198,051 (17.5% below list)

Questions for the listing agent

1. It's been on market 193 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — 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. 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: 0.83% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.43%
• DSCR: 1.11
• GRM: 10.1

CMA / ARV

• ARV (median comp): $276,785
• List price: $240,000
• Delta: -13.29%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12160 Sanders Dr	0.12mi	3/2.0 (-1)	1,551 (+4%)	8mo	$245,000	$158	77
8700 N Gleaner Rd	0.08mi	3/1.5 (-1)	1,456 (-2%)	15mo	$225,000	$155	72
11901 Scott Rd	0.21mi	3/2.0 (-1)	1,657 (+11%)	8mo	$525,900	$317	60
8530 Delaney Dr	0.28mi	4/2.0	1,650 (+10%)	13mo	$219,000	$133	59
12518 Scott Rd	0.49mi	3/1.5 (-1)	1,328 (-11%)	10mo	$229,900	$173	44

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: -12.5%
• Equity multiple: 0.55×
• Total profit: $-30,346
• Equity at exit: $35,785

10-year hold

• IRR: -3.5%
• Equity multiple: 0.77×
• Total profit: $-15,733
• Equity at exit: $20,751

Cash invested: $67,200 (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 48623

• Home prices YoY: -26.7%
• Active inventory: 96
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,981 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$70 /mo · $841/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $136

Break-even live

Break-even rent $1,808

Max offer price $240,000

Occupancy floor 88%

Sensitivity live

Price	-10% $272	-5% $204	+0% $136	+5% $68	+10% $0
Rent	-10% $-21	-5% $58	+0% $136	+5% $214	+10% $292
Rate	-1.0pp $257	-0.5pp $197	base $136	+0.5pp $74	+1.0pp $10

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $240,000 Active 193 DOM
2. 2026-06-19
   days on market $240,000 Active 191 DOM
3. 2026-06-18
   days on market $240,000 Active 190 DOM
4. 2026-06-17
   days on market $240,000 Active 189 DOM
5. 2026-06-16
   days on market $240,000 Active 188 DOM
6. 2026-06-15
   days on market $240,000 Active 187 DOM
7. 2026-06-14
   days on market $240,000 Active 185 DOM
8. 2026-06-12
   days on market $240,000 Active 184 DOM
9. 2026-06-09
   days on market $240,000 Active 181 DOM
10. 2026-06-08
    days on market $240,000 Active 180 DOM
11. 2026-06-07
    days on market $240,000 Active 179 DOM
12. 2026-06-05
    days on market $240,000 Active 176 DOM
13. 2026-06-02
    days on market $240,000 Active 174 DOM
14. 2026-06-01
    days on market $240,000 Active 173 DOM
15. 2026-05-31
    days on market $240,000 Active 172 DOM
16. 2026-05-30
    days on market $240,000 Active 171 DOM
17. 2026-02-06
    soldstatus $225,000
18. 2026-02-02
    soldstatus $225,000 Closed 559-char remark

    Show marketing remark (559 chars)

    Welcome to 12041 Sanders Drive, a 4 bedroom, 2 full bathroom ranch located in the highly desirable Freeland School District. This home features a primary bedroom with private en suite bath, an eat in kitchen, and a spacious living room with plenty of natural light. The finished basement offers additional living space ideal for a family room, home office, or recreation area. Additional features include a 2.5 car garage, fenced in backyard, and a covered patio perfect for outdoor enjoyment. Conveniently located near schools, parks, and everyday amenities.

19. 2026-02-02
    soldstatus $225,000 Closed 559-char remark

    Show marketing remark (559 chars)

    Welcome to 12041 Sanders Drive, a 4 bedroom, 2 full bathroom ranch located in the highly desirable Freeland School District. This home features a primary bedroom with private en suite bath, an eat in kitchen, and a spacious living room with plenty of natural light. The finished basement offers additional living space ideal for a family room, home office, or recreation area. Additional features include a 2.5 car garage, fenced in backyard, and a covered patio perfect for outdoor enjoyment. Conveniently located near schools, parks, and everyday amenities.

20. 2026-01-10
    status Pending 559-char remark

    Show marketing remark (559 chars)

    Welcome to 12041 Sanders Drive, a 4 bedroom, 2 full bathroom ranch located in the highly desirable Freeland School District. This home features a primary bedroom with private en suite bath, an eat in kitchen, and a spacious living room with plenty of natural light. The finished basement offers additional living space ideal for a family room, home office, or recreation area. Additional features include a 2.5 car garage, fenced in backyard, and a covered patio perfect for outdoor enjoyment. Conveniently located near schools, parks, and everyday amenities.

21. 2026-01-10
    listed $240,000 Active 559-char remark

    Show marketing remark (559 chars)

    Welcome to 12041 Sanders Drive, a 4 bedroom, 2 full bathroom ranch located in the highly desirable Freeland School District. This home features a primary bedroom with private en suite bath, an eat in kitchen, and a spacious living room with plenty of natural light. The finished basement offers additional living space ideal for a family room, home office, or recreation area. Additional features include a 2.5 car garage, fenced in backyard, and a covered patio perfect for outdoor enjoyment. Conveniently located near schools, parks, and everyday amenities.

22. 2026-01-10
    status Pending 559-char remark

    Show marketing remark (559 chars)

    Welcome to 12041 Sanders Drive, a 4 bedroom, 2 full bathroom ranch located in the highly desirable Freeland School District. This home features a primary bedroom with private en suite bath, an eat in kitchen, and a spacious living room with plenty of natural light. The finished basement offers additional living space ideal for a family room, home office, or recreation area. Additional features include a 2.5 car garage, fenced in backyard, and a covered patio perfect for outdoor enjoyment. Conveniently located near schools, parks, and everyday amenities.

23. 2026-01-09
    listed $240,000 Active 559-char remark

    Show marketing remark (559 chars)

    Welcome to 12041 Sanders Drive, a 4 bedroom, 2 full bathroom ranch located in the highly desirable Freeland School District. This home features a primary bedroom with private en suite bath, an eat in kitchen, and a spacious living room with plenty of natural light. The finished basement offers additional living space ideal for a family room, home office, or recreation area. Additional features include a 2.5 car garage, fenced in backyard, and a covered patio perfect for outdoor enjoyment. Conveniently located near schools, parks, and everyday amenities.

24. 2025-12-10
    listed $240,000 Active
25. 2004-05-05
    soldstatus $144,000
26. 2004-03-12
    historical
27. 2004-03-11
    soldstatus $144,000
28. 2004-03-11
    soldstatus $144,000
29. 2003-10-06
    historical
30. 2003-10-06
    historical
31. 2003-10-03
    listed $149,900
32. 2003-10-03
    listed $149,900
33. 2003-04-23
    listed $159,900
34. 2003-04-23
    listed $159,900

ⓘ 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: $841 · $70/mo
• Projected year-2 tax: $2,269 · $189/mo
• Expected delta: +$1,427/yr (+$119/mo · 169.6%)

ⓘ 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 ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,766
• − Mortgage interest: −$13,444
• − Property taxes: −$841
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,901
• − Management: −$1,901
• − Depreciation: −$6,982
• Taxable loss: −$2,503
• Est. tax savings @ 24.0%: +$601
• After-tax cash flow: $2,232/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: Freeland Community School District
• NCES district ID: 2615060
• Math proficiency: 54% ▼ -4.00%
• Reading proficiency: 61% ▼ -3.00%
• Median HH income: $70,875
• Composite: 50.98/100
• National rank: #1779
• State rank: #46 of 540 in MI

Livability — Tittabawassee

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Freeland, MI
• Population (ZIP): 15,126

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 (86%)
• Race & ethnicity: White 86% Two or more races 5% Black 5% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 5% Slovak 2%
• Foreign-born: 0%
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -78.02%
• Current HPI: 213.8908
• 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

+40.7% since first listed

18 events — show timeline

• 2026-02-06 Sold (Public Records) $225,000 Public Records
• 2026-02-02 Sold (MLS) $225,000 REALCOMP
• 2026-02-02 Sold (MLS) $225,000 MiRealSource-MiMLS
• 2026-01-10 Pending — REALCOMP
• 2026-01-10 Listed $240,000 REALCOMP
• 2026-01-10 Pending — MiRealSource-MiMLS
• 2026-01-09 Listed $240,000 MiRealSource-MiMLS
• 2025-12-10 Listed $240,000 ForSaleByOwner.com
• 2004-05-05 Sold (Public Records) $144,000 Public Records
• 2004-03-12 Listing Removed — MiRealSource-MiMLS
• 2004-03-11 Sold (MLS) $144,000 REALCOMP
• 2004-03-11 Sold (MLS) $144,000 MiRealSource-MiMLS
• 2003-10-06 Listing Removed — MiRealSource-MiMLS
• 2003-10-06 Listing Removed — REALCOMP
• 2003-10-03 Listed $149,900 REALCOMP
• 2003-10-03 Listed $149,900 MiRealSource-MiMLS
• 2003-04-23 Listed $159,900 MiRealSource-MiMLS
• 2003-04-23 Listed $159,900 REALCOMP

Property tax history

-7.1%/yr

Latest (2025): $841 · -71.7% YoY. Source: county tax records.