2126 Hammel St · Saginaw, MI 48601

$74,500

3 bd · 1.0 ba · 845 sqft · SingleFamily public records · 11 Days on market

Built 1951 5,663 sqft lot

---

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 2126 Hammel! This charming 3-bedroom home offers the perfect blend of character and modern updates. Step inside to find a beautifully updated interior featuring fresh finishes, updated flooring, and a bright, inviting layout designed for comfortable everyday living. The spacious living areas flow seamlessly into the kitchen, creating a warm and welcoming atmosphere for family and friends. Outside, you'll appreciate the detached garage, providing extra storage, workspace, or parking convenience. Whether you're a first-time homebuyer, looking to downsize, or searching for an investment opportunity, this move-in-ready home is one you won't want to miss. Schedule your personal showing today and see all that 2126 Hammel has to offer!

Key facts

• Updated interior
• Updated flooring
• Detached garage

Tags

• DETACHED GARAGE
• UPDATED INTERIOR
• UPDATED FLOORING
• BRIGHT INVITING LAYOUT

Property features AI

Finance

• Other: Residential zoning
• HOA & community: Homeowners association present

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Aluminum siding and brick exterior; Built with a crawl space foundation
• Exterior features: City lot; Paved public road access; Lot dimensions approximately 49 x 115 (0.13 acre); Subdivision: HOSMER FARM SUB; Cross streets near S. 15th / S. 20th

Interior

• Kitchen: No kitchen appliance list beyond gas water heater provided
• Bedrooms: Total of 6 rooms (includes living spaces and bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling system
• Interior features: Gas water heater; Crawl space basement with sump pump
• Laundry & utility: No specific laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $74k.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Cap rate 14.3% vs local median 8.2% 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: 201 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 $515 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 ~5 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 12 sale attempts since 24y 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.
• Current owner paid $20k; list at $74k implies a 272% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,500

Questions for the listing agent

1. Built in 1951 — 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: 1.68% ✓
• Cap rate: 14.34%
• Cash-on-cash: 28.73%
• DSCR: 2.28
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $46,475
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2143 Whittier St	0.04mi	3/1.0	845 (0%)	8mo	$50,000	$59	91
2415 Ledyard St	0.24mi	3/1.0	845 (0%)	13mo	$14,000	$17	78
2420 Bancroft St	0.37mi	2/1.0 (-1)	845 (0%)	4mo	$60,000	$71	75
2316 Whittier St	0.16mi	2/1.0 (-1)	932 (+10%)	11mo	$11,250	$12	61
945 S 27th St	0.70mi	3/1.0	884 (+5%)	2mo	$13,000	$15	58
812 25th St	0.65mi	3/1.0	864 (+2%)	12mo	$59,900	$69	56
2021 Cumberland St	0.73mi	2/1.0 (-1)	874 (+3%)	5mo	$14,500	$17	51
645 S 23rd	0.59mi	2/1.0 (-1)	780 (-8%)	7mo	$37,000	$47	49
3410 Harold St	0.58mi	2/1.0 (-1)	796 (-6%)	12mo	$43,900	$55	48
427 S 19th St	0.70mi	2/1.0 (-1)	874 (+3%)	11mo	$19,000	$22	47
558 S 24th St	0.74mi	3/1.0	912 (+8%)	12mo	$89,000	$98	42
3015 Perkins St	0.66mi	3/1.0	960 (+14%)	12mo	$63,500	$66	36

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: 23.0%
• Equity multiple: 1.95×
• Total profit: $19,740
• Equity at exit: $11,108

10-year hold

• IRR: 31.0%
• Equity multiple: 3.79×
• Total profit: $58,160
• Equity at exit: $6,441

Cash invested: $20,860 (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: 201
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$391
• Tax from tax record: −$66 /mo · $796/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $499

Break-even live

Break-even rent $618

Max offer price $74,500

Occupancy floor 55%

Sensitivity live

Price	-10% $542	-5% $521	+0% $499	+5% $478	+10% $457
Rent	-10% $401	-5% $450	+0% $499	+5% $549	+10% $598
Rate	-1.0pp $537	-0.5pp $518	base $499	+0.5pp $480	+1.0pp $461

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: $18,625
• Closing costs: $2,235
• 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	44d	1	0.72mi

Listing history 9 events

1. 2026-06-19
   days on market $74,500 Active 11 DOM
2. 2026-06-18
   days on market $74,500 Active 10 DOM
3. 2026-06-17
   days on market $74,500 Active 9 DOM
4. 2026-06-16
   days on market $74,500 Active 8 DOM
5. 2026-06-15
   days on market $74,500 Active 7 DOM
6. 2026-06-14
   days on market $74,500 Active 5 DOM
7. 2026-06-12
   days on market $74,500 Active 4 DOM
8. 2026-06-09
   remarks 699-char remark
9. 2026-06-09
   listed $74,500 Active 1 DOM

ⓘ 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: $796 · $66/mo
• Projected year-2 tax: $972 · $81/mo
• Expected delta: +$176/yr (+$15/mo · 22.1%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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: −$4,173
• − Property taxes: −$796
• − Insurance: −$372
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$2,167
• Taxable income: $5,091
• Est. tax owed @ 24.0%: −$1,222
• After-tax cash flow: $4,772/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

+132.8% since first listed

29 events — show timeline

• 2026-06-08 Listed $74,500 MiRealSource-MiMLS
• 2026-06-08 Listed $74,500 REALCOMP
• 2024-04-05 Sold (MLS) $20,000 MiRealSource-MiMLS
• 2024-04-05 Sold (MLS) $20,000 REALCOMP
• 2024-04-01 Pending — MiRealSource-MiMLS
• 2024-04-01 Pending — REALCOMP
• 2024-03-29 Relisted — REALCOMP
• 2024-03-29 Relisted — MiRealSource-MiMLS
• 2024-03-27 Pending — MiRealSource-MiMLS
• 2024-03-27 Pending — REALCOMP
• 2024-03-26 Relisted — REALCOMP
• 2024-03-26 Relisted — MiRealSource-MiMLS
• 2024-03-25 Pending — MiRealSource-MiMLS
• 2024-03-25 Pending — REALCOMP
• 2024-03-19 Price Changed $27,000 MiRealSource-MiMLS
• 2024-03-19 Price Changed $27,000 REALCOMP
• 2024-03-16 Price Changed $28,000 MiRealSource-MiMLS
• 2024-03-16 Price Changed $28,000 REALCOMP
• 2024-03-11 Listed $33,000 MiRealSource-MiMLS
• 2024-03-11 Listed $33,000 REALCOMP
• 2003-11-06 Listing Removed — MiRealSource-MiMLS
• 2003-11-04 Sold (MLS) $24,000 REALCOMP
• 2003-11-04 Sold (MLS) $24,000 MiRealSource-MiMLS
• 2003-06-04 Listed $27,300 REALCOMP
• 2003-06-04 Listed $27,300 MiRealSource-MiMLS
• 2003-05-31 Listing Removed — MiRealSource-MiMLS
• 2003-05-31 Listing Removed — REALCOMP
• 2002-11-06 Listed $32,000 MiRealSource-MiMLS
• 2002-11-06 Listed $32,000 REALCOMP

Property tax history

+4.4%/yr

Latest (2025): $796 · +25.6% YoY. Source: county tax records.