933 S 17th St · Saginaw, MI 48601

$59,900

3 bd · 1.0 ba · 1,124 sqft · SingleFamily public records · 23 Days on market

Built 1955 5,663 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
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully renovated 3-bedroom, 1-bath home offering comfort, space, and modern updates throughout. Situated on two spacious city lots, this property provides plenty of room for outdoor entertaining, gardening, play areas, or future expansion. Step inside to discover fresh renovations featuring updated flooring, modern fixtures, and a bright, inviting interior designed for everyday living. The spacious living area flows into a functional kitchen with ample cabinet space and updated finishes, making it perfect for both relaxing and entertaining. Outside, you'll appreciate the oversized yard spanning two city lots -- a rare find with endless possibilities. A detached 1-car garage provides convenient parking, storage, or workshop space. This move-in-ready home combines modern updates with extra outdoor space, making it an excellent opportunity for homeowners or investors alike. Schedule your private showing today!Welcome to this beautifully renovated 3-bedroom, 1-bath home offering comfort, space, and modern updates throughout. Situated on two spacious city lots, this property provides plenty of room for outdoor entertaining, gardening, play areas, or future expansion. Step inside to discover fresh renovations featuring updated flooring, modern fixtures, and a bright, inviting interior designed for everyday living. The spacious living area flows into a functional kitchen with ample cabinet space and updated finishes, making it perfect for both relaxing and entertaining. Each of the three bedrooms offers comfortable living space with natural light and updated touches throughout the home. The full bathroom has been tastefully remodeled with clean, modern finishes. Outside, you'll appreciate the oversized yard spanning two city lots -- a rare find with endless possibilities. A detached 1-car garage provides convenient parking, storage, or workshop space. This move-in-ready home combines modern updates with extra outdoor space, making it an excellent opportunity for homeowners or investors alike. Sched

Key facts

• Functional kitchen
• Renovated
• Updated flooring

Tags

• RENOVATED
• TWO CITY LOTS
• UPDATED FLOORING
• MODERN FIXTURES
• FUNCTIONAL KITCHEN
• AMPLE CABINET SPACE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Natural gas connected
• Home design: Traditional single-family residence; Built in 1955; Vinyl siding; Shingle roof
• Construction: Vinyl siding construction; Shingle roof; Full basement
• Exterior features: Sidewalk; Shed(s); Paved road access

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Replacement windows; Full basement
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.4% 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: 199 active listings in the ZIP; 1 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 $414 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 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: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 2.09% ✓
• Cap rate: 18.43%
• Cash-on-cash: 43.34%
• DSCR: 2.93
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $23,604
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
919 S 4th Ave	0.42mi	3/1.0	1,090 (-3%)	3mo	$4,000	$4	73
2229 Bancroft St	0.26mi	3/1.0	1,092 (-3%)	15mo	$15,000	$14	71
814 S 12th St	0.35mi	4/1.0 (+1)	1,106 (-2%)	11mo	$40,000	$36	66
3232 Ruckle St	0.60mi	3/1.0	1,174 (+4%)	4mo	$41,000	$35	61
1521 Fenton St	0.59mi	3/1.0	1,100 (-2%)	9mo	$28,000	$25	61
2523 E Holland Ave	0.21mi	2/1.0 (-1)	987 (-12%)	8mo	$18,100	$18	59
2317 Annesely St	0.21mi	3/1.0	1,254 (+12%)	16mo	$4,500	$4	57
525 S 14th St	0.54mi	3/1.0	1,046 (-7%)	9mo	$48,500	$46	56
1541 Emily St	0.49mi	3/1.0	999 (-11%)	10mo	$20,000	$20	50
1923 Phelon St	0.62mi	2/1.0 (-1)	1,000 (-11%)	0mo	$4,500	$5	47
643 S 10th St	0.57mi	4/1.0 (+1)	1,042 (-7%)	15mo	$22,000	$21	44
3015 Perkins St	0.55mi	3/1.0	960 (-15%)	12mo	$63,500	$66	40

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: 40.2%
• Equity multiple: 2.72×
• Total profit: $28,876
• Equity at exit: $8,931

10-year hold

• IRR: 46.5%
• Equity multiple: 5.46×
• Total profit: $74,822
• Equity at exit: $5,179

Cash invested: $16,772 (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 48601

• Home prices YoY: -32.1%
• Active inventory: 199
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$43 /mo · $512/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $606

Break-even live

Break-even rent $483

Max offer price $59,900

Occupancy floor 47%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3328 Webber St Saginaw, MI	3.0	1.0	878	$1,250	$1.42	43d	1	0.82mi

Listing history 8 events

1. 2026-06-03
   status $59,900 Pending 23 DOM
2. 2026-06-02
   days on market $59,900 Active 23 DOM
3. 2026-06-01
   days on market $59,900 Active 22 DOM
4. 2026-05-31
   days on market $59,900 Active 21 DOM
5. 2026-05-30
   days on market $59,900 Active 20 DOM
6. 2026-05-10
   listed $59,900 Active 2047-char remark

   Show marketing remark (941 chars)

   Welcome to this beautifully renovated 3-bedroom, 1-bath home offering comfort, space, and modern updates throughout. Situated on two spacious city lots, this property provides plenty of room for outdoor entertaining, gardening, play areas, or future expansion. Step inside to discover fresh renovations featuring updated flooring, modern fixtures, and a bright, inviting interior designed for everyday living. The spacious living area flows into a functional kitchen with ample cabinet space and updated finishes, making it perfect for both relaxing and entertaining. Outside, you'll appreciate the oversized yard spanning two city lots -- a rare find with endless possibilities. A detached 1-car garage provides convenient parking, storage, or workshop space. This move-in-ready home combines modern updates with extra outdoor space, making it an excellent opportunity for homeowners or investors alike. Schedule your private showing today!

7. 2026-05-10
   listed $59,900 Active

   Show marketing remark (941 chars)

   Welcome to this beautifully renovated 3-bedroom, 1-bath home offering comfort, space, and modern updates throughout. Situated on two spacious city lots, this property provides plenty of room for outdoor entertaining, gardening, play areas, or future expansion. Step inside to discover fresh renovations featuring updated flooring, modern fixtures, and a bright, inviting interior designed for everyday living. The spacious living area flows into a functional kitchen with ample cabinet space and updated finishes, making it perfect for both relaxing and entertaining. Outside, you'll appreciate the oversized yard spanning two city lots -- a rare find with endless possibilities. A detached 1-car garage provides convenient parking, storage, or workshop space. This move-in-ready home combines modern updates with extra outdoor space, making it an excellent opportunity for homeowners or investors alike. Schedule your private showing today!

8. 2026-05-10
   listed $59,900 Active 941-char remark

   Show marketing remark (941 chars)

   Welcome to this beautifully renovated 3-bedroom, 1-bath home offering comfort, space, and modern updates throughout. Situated on two spacious city lots, this property provides plenty of room for outdoor entertaining, gardening, play areas, or future expansion. Step inside to discover fresh renovations featuring updated flooring, modern fixtures, and a bright, inviting interior designed for everyday living. The spacious living area flows into a functional kitchen with ample cabinet space and updated finishes, making it perfect for both relaxing and entertaining. Outside, you'll appreciate the oversized yard spanning two city lots -- a rare find with endless possibilities. A detached 1-car garage provides convenient parking, storage, or workshop space. This move-in-ready home combines modern updates with extra outdoor space, making it an excellent opportunity for homeowners or investors alike. Schedule your private showing today!

ⓘ 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: $512 · $43/mo
• Projected year-2 tax: $717 · $60/mo
• Expected delta: +$205/yr (+$17/mo · 40.2%)

ⓘ 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: $15,000
• − Mortgage interest: −$3,355
• − Property taxes: −$512
• − Insurance: −$300
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$1,743
• Taxable income: $6,691
• Est. tax owed @ 24.0%: −$1,606
• After-tax cash flow: $5,664/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
• City population: 54,884
• Population (ZIP): 32,069

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 0.56)
• Race & ethnicity: Black 59% White 27% Hispanic / Latino 12% Two or more races 5%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 2% Lithuanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 4%

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: ▼ -93.46%
• Current HPI: 197.3359
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-10 Listed $59,900 REALCOMP
• 2026-05-10 Listed $59,900 MiRealSource-MiMLS
• 2026-05-10 Listed $59,900 SW Michigan MLS

Property tax history

-1.0%/yr

Latest (2025): $512 · -44.6% YoY. Source: county tax records.