915 Burt St · Saginaw, MI 48607

$22,000

4 bd · 2.0 ba · 2,028 sqft · SingleFamily public records · 200 Days on market

Built 1916 2,614 sqft lot Est $39k · 43% 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 +15.0/30.0
• ARV discount +15.0/15.0
• Appreciation +5.9/10.0
• 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

Listing remarks MLS

Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

Key facts

• Highly desired area
• Private backyard
• 2,614 sq ft lot

Tags

• PRIVATE BACKYARD
• HIGHLY DESIRED AREA

Property features AI

Finance

• Other: Annual tax amount listed (financial details excluded from features)
• Financial info: No investor or income/expense details provided
• HOA & community: Homeowners association present

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; Residential property
• Construction: Vinyl siding; Above-grade finished area approximately 2,100; Built-in crawl space
• Exterior features: Irregular-shaped lot

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Not specified
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No cooling listed
• Interior features: Crawl space basement; Total of 4 rooms
• Laundry & utility: No laundry or utility appliance details provided

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $925 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.
• Cap rate 56.8% 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: 5 active listings in the ZIP; 154 units permitted in Saginaw County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $532 of equity ($152 loan paydown + $380 appreciation (1.7% local appreciation)).
• Saginaw County population projected at -25% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 200 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts; this cycle's ask has dropped $18k (45%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $6k; list at $22k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $19,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 200 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 1916 — 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. 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.
8. 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.
9. 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: 6.20% ✓
• Cap rate: 56.76%
• Cash-on-cash: 180.25%
• DSCR: 9.02
• GRM: 1.3

CMA / ARV

• ARV (on-the-fly): $38,532
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
550 S Weadock Rd	0.12mi	5/2.5 (+1)	2,188 (+8%)	4mo	$28,999	$13	71
910 S Warren Ave	0.17mi	4/1.5	1,872 (-8%)	13mo	$35,000	$19	66
912 Howard St	0.37mi	4/2.0	1,870 (-8%)	7mo	$45,000	$24	63
1141 Cornelia St	0.37mi	4/1.0	2,112 (+4%)	16mo	$15,000	$7	59
411 S 5th St	0.22mi	3/2.5 (-1)	2,285 (+13%)	14mo	$27,000	$12	50
1026 Howard St	0.45mi	3/1.5 (-1)	1,889 (-7%)	22mo	$35,000	$19	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.73% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.77×
• Total profit: $60,155
• Equity at exit: $8,354

10-year hold

• IRR: —
• Equity multiple: 22.67×
• Total profit: $133,486
• Equity at exit: $11,786

Cash invested: $6,160 (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 48607

• Home prices YoY: 1.0%
• Active inventory: 5
• Price-to-rent: 1.3×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$115
• Tax est. 1.5%: −$28 /mo · $330/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $925

Break-even live

Break-even rent $192

Max offer price $22,000

Occupancy floor 27%

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: $5,500
• Closing costs: $660
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-19
   days on market $22,000 Active 200 DOM
2. 2026-06-18
   days on market $22,000 Active 199 DOM
3. 2026-06-17
   days on market $22,000 Active 198 DOM
4. 2026-06-16
   days on market $22,000 Active 197 DOM
5. 2026-06-15
   days on market $22,000 Active 196 DOM
6. 2026-06-14
   days on market $22,000 Active 194 DOM
7. 2026-06-12
   days on market $22,000 Active 193 DOM
8. 2026-06-09
   days on market $22,000 Active 190 DOM
9. 2026-06-08
   days on market $22,000 Active 189 DOM
10. 2026-06-07
    days on market $22,000 Active 188 DOM
11. 2026-06-05
    days on market $22,000 Active 185 DOM
12. 2026-06-03
    days on market $22,000 Active 184 DOM
13. 2026-06-02
    days on market $22,000 Active 183 DOM
14. 2026-06-01
    days on market $22,000 Active 182 DOM
15. 2026-05-31
    days on market $22,000 Active 181 DOM
16. 2026-05-30
    days on market $22,000 Active 180 DOM
17. 2026-03-31
    status Active
18. 2026-03-27
    historical
19. 2026-03-17
    status Active

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

20. 2026-03-17
    status Active 204-char remark

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

21. 2025-08-05
    status Pending

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

22. 2025-08-05
    status Pending 204-char remark

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

23. 2025-07-24
    price $22,000 204-char remark

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

24. 2025-07-23
    status Active

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

25. 2025-07-23
    price $22,000

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

26. 2025-07-23
    status Active 204-char remark

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

27. 2025-04-21
    historical

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

28. 2025-04-21
    historical 204-char remark

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

29. 2025-03-11
    price $34,750 204-char remark

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

30. 2025-03-10
    price $34,750
31. 2025-02-06
    price $38,400 204-char remark

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

32. 2025-02-05
    price $38,400
33. 2025-01-14
    listed $39,900 Active

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

34. 2025-01-14
    listed $39,900 Active 204-char remark

    Show marketing remark (204 chars)

    Investor special! located in the charming Cathedral District near downtown Saginaw. Home features nice sized bedrooms and a private backyard. Come see the potential for this home in a highly desired area!

35. 2012-07-16
    soldstatus $5,500

ⓘ 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 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: $16,364
• − Mortgage interest: −$1,232
• − Property taxes: −$330
• − Insurance: −$110
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$640
• Taxable income: $11,433
• Est. tax owed @ 24.0%: −$2,744
• After-tax cash flow: $8,359/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): 1,523

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Black 40% White 29% Two or more races 23% Hispanic / Latino 7% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% Chinese 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: ▲ 1.73%
• Current HPI: 167.019
• 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

+300.0% since first listed

19 events — show timeline

• 2026-03-31 Relisted — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2026-03-17 Relisted — REALCOMP
• 2026-03-17 Relisted — MiRealSource-MiMLS
• 2025-08-05 Pending — REALCOMP
• 2025-08-05 Pending — MiRealSource-MiMLS
• 2025-07-24 Price Changed $22,000 MiRealSource-MiMLS
• 2025-07-23 Relisted — REALCOMP
• 2025-07-23 Price Changed $22,000 REALCOMP
• 2025-07-23 Relisted — MiRealSource-MiMLS
• 2025-04-21 Listing Removed — MiRealSource-MiMLS
• 2025-04-21 Listing Removed — REALCOMP
• 2025-03-11 Price Changed $34,750 MiRealSource-MiMLS
• 2025-03-10 Price Changed $34,750 REALCOMP
• 2025-02-06 Price Changed $38,400 MiRealSource-MiMLS
• 2025-02-05 Price Changed $38,400 REALCOMP
• 2025-01-14 Listed $39,900 REALCOMP
• 2025-01-14 Listed $39,900 MiRealSource-MiMLS
• 2012-07-16 Sold (Public Records) $5,500 Public Records

Property tax history

+10.8%/yr

Latest (2025): $1,676 · +16.2% YoY. Source: county tax records.