115 N Jefferson St · Zilwaukee, MI 48604

$79,900

3 bd · 1.0 ba · 1,136 sqft · SingleFamily public records · 75 Days on market

Built 1955 6,970 sqft lot Est $149k · 46% 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
• Livability +3.8/5.0
• 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

Experience the ease of ranch-style living in this inviting 3-bedroom home. The expansive living room provides a perfect gathering spot, while the oversized kitchen offers plenty of room. A rare find, the generous utility room simplifies organization and chores. Enjoy seamless transitions from your car to the home via the protected breezeway leading to the attached garage—a true Michigan essential. Nestled in a quiet, friendly community just minutes from I-75 and Saginaw’s best shopping, this home is a fantastic value with endless possibilities. Schedule your private tour today!

Key facts

• Protected breezeway
• Attached garage
• Oversized kitchen

Tags

• EXPANSIVE LIVING ROOM
• OVERSIZED KITCHEN
• GENEROUS UTILITY ROOM
• PROTECTED BREEZEWAY
• ATTACHED GARAGE
• QUIET COMMUNITY

Property features AI

Finance

• Other: Property listed by RE/MAX New Image
• HOA & community: Homeowners association present

Exterior

• Parking: Attached garage with about 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Aluminum siding
• Exterior features: Corner lot; Lot dimensions approximately 60 x 120

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Crawl space basement; Six total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $-17 ($-208/yr) — negative.
• To cash-flow at today's rent, offer at most $77k (3.8% below list).
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 76/100 on livability (#138 in MI, #3,375 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute 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.
• Zoned schools: Thompson Middle School (math 6% / reading 13%, grade F, #479 of 493 statewide, top 97%, 397 students, 93% FRL) — zoned schools average 93% FRL vs 76% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 24% district-wide (-15 pts) — the specific schools serving this property underperform the Saginaw School District average; the district grade overstates school quality for this exact location.
• Market conditions: 71 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 $552 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.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $49k; list at $80k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.54% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.95%
• DSCR: 1.98
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $148,816
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
310 S Franklin St St	0.25mi	2/1.0 (-1)	1,077 (-5%)	2mo	$118,000	$110	73
516 Shepard St	0.26mi	2/1.0 (-1)	1,120 (-1%)	9mo	$129,000	$115	72
217 S Franklin St	0.21mi	2/1.5 (-1)	1,117 (-2%)	12mo	$117,000	$105	71
5161 Sherman Rd	0.46mi	3/1.5	1,242 (+9%)	10mo	$150,000	$121	52
503 W Bush St	0.44mi	3/1.0	988 (-13%)	7mo	$150,000	$152	52
855 Doro Ln	0.74mi	3/2.5	1,144 (+1%)	10mo	$186,000	$163	50
875 Waukee Ln	0.74mi	3/1.5	1,144 (+1%)	22mo	$159,900	$140	44
854 Waukee Ln	0.73mi	3/1.5	1,290 (+14%)	23mo	$169,500	$131	22

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: -17.4%
• Equity multiple: 0.38×
• Total profit: $-13,768
• Equity at exit: $11,913

10-year hold

• IRR: -8.6%
• Equity multiple: 0.45×
• Total profit: $-12,254
• Equity at exit: $6,908

Cash invested: $22,372 (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 48604

• Home prices YoY: -24.6%
• Active inventory: 71
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,227 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$108 /mo · $1,291/yr
• Insurance: −$33
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-17

Break-even live

Break-even rent $1,249

Max offer price $76,832

Occupancy floor 96%

Sensitivity live

Price	-10% $28	-5% $5	+0% $-17	+5% $-40	+10% $-63
Rent	-10% $-114	-5% $-66	+0% $-17	+5% $31	+10% $80
Rate	-1.0pp $23	-0.5pp $3	base $-17	+0.5pp $-38	+1.0pp $-59

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-05
   status $79,900 Pending 75 DOM
2. 2026-06-03
   days on market $79,900 Active 75 DOM
3. 2026-06-02
   days on market $79,900 Active 74 DOM
4. 2026-06-01
   days on market $79,900 Active 73 DOM
5. 2026-05-31
   days on market $79,900 Active 72 DOM
6. 2026-05-30
   days on market $79,900 Active 71 DOM
7. 2026-05-15
   status Active

   Show marketing remark (596 chars)

   Experience the ease of ranch-style living in this inviting 3-bedroom home. The expansive living room provides a perfect gathering spot, while the oversized kitchen offers plenty of room. A rare find, the generous utility room simplifies organization and chores. Enjoy seamless transitions from your car to the home via the protected breezeway leading to the attached garage—a true Michigan essential. Nestled in a quiet, friendly community just minutes from I-75 and Saginaw’s best shopping, this home is a fantastic value with endless possibilities. Schedule your private tour today!

8. 2026-05-15
   status Active 596-char remark

   Show marketing remark (596 chars)

   Experience the ease of ranch-style living in this inviting 3-bedroom home. The expansive living room provides a perfect gathering spot, while the oversized kitchen offers plenty of room. A rare find, the generous utility room simplifies organization and chores. Enjoy seamless transitions from your car to the home via the protected breezeway leading to the attached garage—a true Michigan essential. Nestled in a quiet, friendly community just minutes from I-75 and Saginaw’s best shopping, this home is a fantastic value with endless possibilities. Schedule your private tour today!

9. 2026-04-10
   status Pending

   Show marketing remark (596 chars)

   Experience the ease of ranch-style living in this inviting 3-bedroom home. The expansive living room provides a perfect gathering spot, while the oversized kitchen offers plenty of room. A rare find, the generous utility room simplifies organization and chores. Enjoy seamless transitions from your car to the home via the protected breezeway leading to the attached garage—a true Michigan essential. Nestled in a quiet, friendly community just minutes from I-75 and Saginaw’s best shopping, this home is a fantastic value with endless possibilities. Schedule your private tour today!

10. 2026-04-10
    status Pending 596-char remark

    Show marketing remark (596 chars)

    Experience the ease of ranch-style living in this inviting 3-bedroom home. The expansive living room provides a perfect gathering spot, while the oversized kitchen offers plenty of room. A rare find, the generous utility room simplifies organization and chores. Enjoy seamless transitions from your car to the home via the protected breezeway leading to the attached garage—a true Michigan essential. Nestled in a quiet, friendly community just minutes from I-75 and Saginaw’s best shopping, this home is a fantastic value with endless possibilities. Schedule your private tour today!

11. 2026-03-17
    price $79,900 596-char remark

    Show marketing remark (596 chars)

    Experience the ease of ranch-style living in this inviting 3-bedroom home. The expansive living room provides a perfect gathering spot, while the oversized kitchen offers plenty of room. A rare find, the generous utility room simplifies organization and chores. Enjoy seamless transitions from your car to the home via the protected breezeway leading to the attached garage—a true Michigan essential. Nestled in a quiet, friendly community just minutes from I-75 and Saginaw’s best shopping, this home is a fantastic value with endless possibilities. Schedule your private tour today!

12. 2026-03-16
    price $79,900
13. 2026-02-12
    listed $84,900 Active

    Show marketing remark (596 chars)

    Experience the ease of ranch-style living in this inviting 3-bedroom home. The expansive living room provides a perfect gathering spot, while the oversized kitchen offers plenty of room. A rare find, the generous utility room simplifies organization and chores. Enjoy seamless transitions from your car to the home via the protected breezeway leading to the attached garage—a true Michigan essential. Nestled in a quiet, friendly community just minutes from I-75 and Saginaw’s best shopping, this home is a fantastic value with endless possibilities. Schedule your private tour today!

14. 2026-02-12
    listed $84,900 Active 596-char remark

    Show marketing remark (596 chars)

    Experience the ease of ranch-style living in this inviting 3-bedroom home. The expansive living room provides a perfect gathering spot, while the oversized kitchen offers plenty of room. A rare find, the generous utility room simplifies organization and chores. Enjoy seamless transitions from your car to the home via the protected breezeway leading to the attached garage—a true Michigan essential. Nestled in a quiet, friendly community just minutes from I-75 and Saginaw’s best shopping, this home is a fantastic value with endless possibilities. Schedule your private tour today!

15. 2018-02-16
    soldstatus $49,000
16. 2018-02-13
    soldstatus $49,000 317-char remark

    Show marketing remark (317 chars)

    Built in 1955, this one owner home has been well taken care off. Offering 3 bedrooms, a large garage, newer furnace, water heater, electric panel, roof, the major things are done. It even is wired for a generator for when the power goes out, the generator is even staying with the house. This is a great starter home.

17. 2018-02-13
    soldstatus $49,000 Closed

    Show marketing remark (317 chars)

    Built in 1955, this one owner home has been well taken care off. Offering 3 bedrooms, a large garage, newer furnace, water heater, electric panel, roof, the major things are done. It even is wired for a generator for when the power goes out, the generator is even staying with the house. This is a great starter home.

18. 2018-01-10
    status Pending
19. 2017-12-06
    historical Keep Showing-Contgcy Appl
20. 2017-11-14
    listed $49,900 Active

    Show marketing remark (317 chars)

    Built in 1955, this one owner home has been well taken care off. Offering 3 bedrooms, a large garage, newer furnace, water heater, electric panel, roof, the major things are done. It even is wired for a generator for when the power goes out, the generator is even staying with the house. This is a great starter home.

21. 2017-11-14
    listed $49,900 317-char remark

    Show marketing remark (317 chars)

    Built in 1955, this one owner home has been well taken care off. Offering 3 bedrooms, a large garage, newer furnace, water heater, electric panel, roof, the major things are done. It even is wired for a generator for when the power goes out, the generator is even staying with the house. This is a great starter home.

ⓘ 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: $1,291 · $108/mo
• Projected year-2 tax: $1,291 · $108/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone AE · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $14,720
• − Mortgage interest: −$4,476
• − Property taxes: −$1,291
• − Insurance: −$5,518
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$2,324
• Taxable loss: −$1,244
• Est. tax savings @ 24.0%: +$299
• After-tax cash flow: $90/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 — Zilwaukee

• Score: 76/100
• State rank: #138
• US rank: #3375

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Zilwaukee, MI
• Population (ZIP): 11,284

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 (78%)
• Race & ethnicity: White 78% Black 9% Hispanic / Latino 8% Two or more races 5% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 10% Lithuanian 6% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% Arabic 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: ▼ -68.55%
• Current HPI: 210.5278
• 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

+60.1% since first listed

15 events — show timeline

• 2026-05-15 Relisted — REALCOMP
• 2026-05-15 Relisted — MiRealSource-MiMLS
• 2026-04-10 Pending — REALCOMP
• 2026-04-10 Pending — MiRealSource-MiMLS
• 2026-03-17 Price Changed $79,900 MiRealSource-MiMLS
• 2026-03-16 Price Changed $79,900 REALCOMP
• 2026-02-12 Listed $84,900 MiRealSource-MiMLS
• 2026-02-12 Listed $84,900 REALCOMP
• 2018-02-16 Sold (Public Records) $49,000 Public Records
• 2018-02-13 Sold (MLS) $49,000 MiRealSource-MiMLS
• 2018-02-13 Sold (MLS) $49,000 REALCOMP
• 2018-01-10 Pending — MiRealSource-MiMLS
• 2017-12-06 Contingent — MiRealSource-MiMLS
• 2017-11-14 Listed $49,900 MiRealSource-MiMLS
• 2017-11-14 Listed $49,900 REALCOMP

Property tax history

-0.4%/yr

Latest (2025): $1,291 · -24.2% YoY. Source: county tax records.