1923 Phelon St · Saginaw, MI 48601

$9,600

2 bd · 1.0 ba · 906 sqft · SingleFamily public records · 163 Days on market

Built 1919 3,049 sqft lot ↓ 52% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

Key facts

• Rehab started
• 3,049 sq ft lot
• Garage

Tags

• FIX AND FLIP OPPORTUNITY
• REHAB STARTED
• INTERIOR DEMO COMPLETE
• NEW WINDOWS INSTALLED
• STRONG VALUE-ADD POTENTIAL

Property features AI

Finance

• Financial info: Annual tax amount listed (amount not included per instructions)

Exterior

• Parking: Detached 1-car garage
• Utilities: Underground utilities; Public sewer available; Other water source
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Wood siding exterior; Block foundation
• Exterior features: Asphalt roof; Paved road access; Lot dimensions approximately 40.01 x 80 (0.07 acres)

Interior

• Bedrooms: 2 total rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $10k.

Deal economics

• At list price, monthly cash flow is $921 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $10k).
• Recommended offer: $8k (12.0% below list) — sets the bar for market timing.
• Cap rate 121.4% 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 $66 of loan paydown is wiped out by about $288 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 $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($8k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (52%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $8,448 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 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 1919 — 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 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 13.02% ✓
• Cap rate: 121.44%
• Cash-on-cash: 411.23%
• DSCR: 19.30
• GRM: 0.6

CMA / ARV

• ARV (on-the-fly): $19,932
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1923 Phelon St	0.00mi	2/1.0	1,000 (+10%)	0mo	$4,500	$5	82
1541 Emily St	0.24mi	3/1.0 (+1)	999 (+10%)	10mo	$20,000	$20	58
1639 Warren Ave	0.46mi	2/1.0	793 (-12%)	1mo	$17,000	$21	57
2316 Whittier St	0.68mi	2/1.0	932 (+3%)	11mo	$11,250	$12	54
2523 E Holland Ave	0.55mi	2/1.0	987 (+9%)	8mo	$18,100	$18	53
2143 Whittier St	0.55mi	3/1.0 (+1)	845 (-7%)	8mo	$50,000	$59	51
3221 Fulton St	0.65mi	3/1.5 (+1)	972 (+7%)	1mo	$47,000	$48	50
2419 Troy St	0.64mi	2/1.0	960 (+6%)	16mo	$14,000	$15	47
3116 Fulton St	0.65mi	2/1.0	790 (-13%)	2mo	$32,000	$41	46
1432 Cornelia St	0.40mi	3/1.0 (+1)	1,034 (+14%)	8mo	$23,000	$22	46
3410 Harold St	0.67mi	2/1.0	796 (-12%)	12mo	$43,900	$55	39
2720 E Holland Ave	0.72mi	3/1.0 (+1)	975 (+8%)	18mo	$25,000	$26	34

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: —
• Equity multiple: 22.25×
• Total profit: $57,132
• Equity at exit: $1,431

10-year hold

• IRR: —
• Equity multiple: 47.64×
• Total profit: $125,372
• Equity at exit: $830

Cash invested: $2,688 (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: 0.6×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$50
• Tax est. 1.5%: −$12 /mo · $144/yr
• Insurance: −$4
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $921

Break-even live

Break-even rent $84

Max offer price $9,600

Occupancy floor 21%

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: $2,400
• Closing costs: $288
• 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	0.79mi

Listing history 27 events

1. 2026-06-16
   days on market $9,600 Active 163 DOM
2. 2026-06-15
   days on market $9,600 Active 162 DOM
3. 2026-06-14
   days on market $9,600 Active 160 DOM
4. 2026-06-12
   days on market $9,600 Active 159 DOM
5. 2026-06-09
   days on market $9,600 Active 156 DOM
6. 2026-06-08
   days on market $9,600 Active 155 DOM
7. 2026-06-07
   days on market $9,600 Active 154 DOM
8. 2026-06-05
   days on market $9,600 Active 151 DOM
9. 2026-06-03
   days on market $9,600 Active 150 DOM
10. 2026-06-02
    days on market $9,600 Active 149 DOM
11. 2026-06-01
    days on market $9,600 Active 148 DOM
12. 2026-05-31
    days on market $9,600 Active 147 DOM
13. 2026-05-30
    days on market $9,600 Active 146 DOM
14. 2026-04-30
    price $9,600 284-char remark

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

15. 2026-04-29
    price $9,600
16. 2026-04-14
    price $9,900 284-char remark

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

17. 2026-04-14
    price $9,900

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

18. 2026-04-10
    price $10,990 284-char remark

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

19. 2026-04-10
    price $10,990

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

20. 2026-03-21
    price $12,900 284-char remark

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

21. 2026-03-21
    price $12,900

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

22. 2026-03-04
    price $14,000 284-char remark

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

23. 2026-03-03
    price $14,000
24. 2026-01-23
    price $15,900 284-char remark

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

25. 2026-01-22
    price $15,900
26. 2026-01-04
    listed $19,990 Active 284-char remark

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

27. 2026-01-04
    listed $19,990 Active

    Show marketing remark (284 chars)

    GREAT FIX AND FLIP OR FIX AND HOLD OPPORTUNITY IN SAGINAW. 2 BED, 1 FULL BATH RANCH WITH REHAB STARTED. INTERIOR DEMO COMPLETE AND NEW WINDOWS INSTALLED. SOLID LAYOUT WITH STRONG VALUE-ADD POTENTIAL. IDEAL FOR INVESTORS OR BUYERS LOOKING TO ADD SWEAT EQUITY. SCHEDULE A SHOWING TODAY!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% 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: −$538
• − Property taxes: −$144
• − Insurance: −$48
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$279
• Taxable income: $11,591
• Est. tax owed @ 24.0%: −$2,782
• After-tax cash flow: $8,272/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

-52.0% since first listed

14 events — show timeline

• 2026-04-30 Price Changed $9,600 MiRealSource-MiMLS
• 2026-04-29 Price Changed $9,600 REALCOMP
• 2026-04-14 Price Changed $9,900 MiRealSource-MiMLS
• 2026-04-14 Price Changed $9,900 REALCOMP
• 2026-04-10 Price Changed $10,990 MiRealSource-MiMLS
• 2026-04-10 Price Changed $10,990 REALCOMP
• 2026-03-21 Price Changed $12,900 MiRealSource-MiMLS
• 2026-03-21 Price Changed $12,900 REALCOMP
• 2026-03-04 Price Changed $14,000 MiRealSource-MiMLS
• 2026-03-03 Price Changed $14,000 REALCOMP
• 2026-01-23 Price Changed $15,900 MiRealSource-MiMLS
• 2026-01-22 Price Changed $15,900 REALCOMP
• 2026-01-04 Listed $19,990 REALCOMP
• 2026-01-04 Listed $19,990 MiRealSource-MiMLS

Property tax history

-0.3%/yr

Latest (2025): $571 · -33.2% YoY. Source: county tax records.