1522 Gilbert St · Saginaw, MI 48602

$70,000

3 bd · 1.0 ba · 1,112 sqft · SingleFamily public records · 6 Days on market

Built 1922 9,583 sqft lot Est $67k · at est.

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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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +5.3/15.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully renovated and fully move-in ready two bedroom and one bathroom home in Saginaw. This charming property features a brand new kitchen with modern finishes and a completely updated bathroom with stylish fixtures. The entire interior has been refreshed with fresh paint, new flooring, and plush new carpeting throughout. Located in the 48602 zip code, this turnkey residence offers convenient access to local amenities and schools. Ideal for first-time buyers or investors seeking a maintenance-free property. Schedule your private showing today!

Key facts

• New flooring
• Renovated kitchen
• Updated bathroom

Tags

• RENOVATED KITCHEN
• UPDATED BATHROOM
• NEW FLOORING
• PLUSH CARPETING

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Vinyl siding construction
• Exterior features: Lot dimensions approximately 75 x 128; 0.22-acre residential lot; No pool

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $303 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($958 rent vs $70k).
• Cap rate 11.5% 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: Rents rising (+4.0%/yr); 250 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $484 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 + 4.0% rent growth), your $20k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 27y 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 $6k; list at $70k implies a 1045% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,000

Questions for the listing agent

1. Built in 1922 — 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: 1.37% ✓
• Cap rate: 11.48%
• Cash-on-cash: 18.53%
• DSCR: 1.82
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $66,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1522 Gilbert St	0.00mi	2/1.0 (-1)	1,112 (0%)	1mo	$67,000	$60	94
1503 Gilbert St	0.05mi	3/1.0	1,029 (-8%)	10mo	$55,000	$53	77
1757 Burnham Dr	0.47mi	4/1.0 (+1)	1,097 (-1%)	2mo	$63,000	$57	69
2233 S Niagara St	0.25mi	3/1.0	972 (-13%)	1mo	$44,000	$45	66
1013 Maple St	0.60mi	3/1.0	1,034 (-7%)	2mo	$66,000	$64	58
1830 Jordan St	0.68mi	3/2.0	1,095 (-2%)	7mo	$80,000	$73	56
2116 W Michigan Ave	0.75mi	3/1.0	1,159 (+4%)	4mo	$125,000	$108	55
1827 Gilbert St	0.44mi	3/1.5	1,008 (-9%)	9mo	$20,000	$20	54
123 Vermont St	0.53mi	2/1.0 (-1)	1,010 (-9%)	5mo	$78,000	$77	50
1602 S Harrison St	0.69mi	4/2.0 (+1)	1,085 (-2%)	9mo	$113,000	$104	47
1902 Zauel St	0.62mi	3/1.0	1,241 (+12%)	6mo	$50,000	$40	47
1717 S Hamilton St	0.54mi	2/1.0 (-1)	960 (-14%)	4mo	$42,000	$44	44

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 · 3.98% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.45×
• Total profit: $8,881
• Equity at exit: $10,437

10-year hold

• IRR: 21.1%
• Equity multiple: 2.86×
• Total profit: $36,528
• Equity at exit: $6,052

Cash invested: $19,600 (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 48602

• Home prices YoY: -19.7%
• Rents YoY: 4.0%
• Active inventory: 250
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $958 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$58 /mo · $693/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $303

Break-even live

Break-even rent $575

Max offer price $70,000

Occupancy floor 63%

Sensitivity live

Price	-10% $342	-5% $322	+0% $303	+5% $283	+10% $263
Rent	-10% $227	-5% $265	+0% $303	+5% $340	+10% $378
Rate	-1.0pp $338	-0.5pp $320	base $303	+0.5pp $284	+1.0pp $266

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1827 Gilbert St Saginaw, MI	3.0	2.0	1008	$695	$0.69	44d	1	0.44mi
2021 Grout St Saginaw, MI	1.0–2.0	1.0	862	$995	$1.15	44d	1	0.45mi
113 Parkside Ct Saginaw, MI	1.0–3.0	1.0–1.5	808	$900	$1.11	44d	1	1.31mi

Listing history 13 events

1. 2026-05-21
   status Pending

   Show marketing remark (554 chars)

   Beautifully renovated and fully move-in ready two bedroom and one bathroom home in Saginaw. This charming property features a brand new kitchen with modern finishes and a completely updated bathroom with stylish fixtures. The entire interior has been refreshed with fresh paint, new flooring, and plush new carpeting throughout. Located in the 48602 zip code, this turnkey residence offers convenient access to local amenities and schools. Ideal for first-time buyers or investors seeking a maintenance-free property. Schedule your private showing today!

2. 2026-05-21
   status Pending 554-char remark

   Show marketing remark (554 chars)

   Beautifully renovated and fully move-in ready two bedroom and one bathroom home in Saginaw. This charming property features a brand new kitchen with modern finishes and a completely updated bathroom with stylish fixtures. The entire interior has been refreshed with fresh paint, new flooring, and plush new carpeting throughout. Located in the 48602 zip code, this turnkey residence offers convenient access to local amenities and schools. Ideal for first-time buyers or investors seeking a maintenance-free property. Schedule your private showing today!

3. 2026-05-15
   listed $70,000 Active

   Show marketing remark (554 chars)

   Beautifully renovated and fully move-in ready two bedroom and one bathroom home in Saginaw. This charming property features a brand new kitchen with modern finishes and a completely updated bathroom with stylish fixtures. The entire interior has been refreshed with fresh paint, new flooring, and plush new carpeting throughout. Located in the 48602 zip code, this turnkey residence offers convenient access to local amenities and schools. Ideal for first-time buyers or investors seeking a maintenance-free property. Schedule your private showing today!

4. 2026-05-15
   listed $70,000 Active 554-char remark

   Show marketing remark (554 chars)

   Beautifully renovated and fully move-in ready two bedroom and one bathroom home in Saginaw. This charming property features a brand new kitchen with modern finishes and a completely updated bathroom with stylish fixtures. The entire interior has been refreshed with fresh paint, new flooring, and plush new carpeting throughout. Located in the 48602 zip code, this turnkey residence offers convenient access to local amenities and schools. Ideal for first-time buyers or investors seeking a maintenance-free property. Schedule your private showing today!

5. 2015-10-16
   soldstatus $6,114 158-char remark

   Show marketing remark (158 chars)

   HUD Home. Affordable home featuring covered front porch, large living room, deck, patio, detached garage and fenced yard. Possible 3rd bedroom. Price Reduced.

6. 2015-10-16
   soldstatus $6,114

   Show marketing remark (158 chars)

   HUD Home. Affordable home featuring covered front porch, large living room, deck, patio, detached garage and fenced yard. Possible 3rd bedroom. Price Reduced.

7. 2015-09-24
   historical
8. 2015-07-07
   listed $11,400 158-char remark

   Show marketing remark (158 chars)

   HUD Home. Affordable home featuring covered front porch, large living room, deck, patio, detached garage and fenced yard. Possible 3rd bedroom. Price Reduced.

9. 2015-07-07
   listed $11,400

   Show marketing remark (158 chars)

   HUD Home. Affordable home featuring covered front porch, large living room, deck, patio, detached garage and fenced yard. Possible 3rd bedroom. Price Reduced.

10. 1999-05-21
    soldstatus $30,000
11. 1999-05-21
    soldstatus $30,000
12. 1999-01-25
    listed $35,500
13. 1999-01-25
    listed $35,500

ⓘ 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: $693 · $58/mo
• Projected year-2 tax: $886 · $74/mo
• Expected delta: +$192/yr (+$16/mo · 27.8%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°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: $11,493
• − Mortgage interest: −$3,921
• − Property taxes: −$693
• − Insurance: −$350
• − Repairs & maintenance: −$919
• − Management: −$919
• − Depreciation: −$2,036
• Taxable income: $2,654
• Est. tax owed @ 24.0%: −$637
• After-tax cash flow: $2,995/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
• County: Saginaw County · 54,884 people
• City population: 54,884
• Metro: Saginaw, MI
• Population (ZIP): 27,127
• Household income: $46,984
• Rent vs Own: 35.8% rent · 64.2% own
• Severe rent burden: 1416.0

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 0.64)
• Race & ethnicity: White 50% Black 27% Hispanic / Latino 17% Two or more races 12%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 2%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -39.15%
• Current HPI: 159.8807
• Rent YoY: ▲ 3.98%
• Metro: Saginaw, MI
• 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

+97.2% since first listed

13 events — show timeline

• 2026-05-21 Pending — REALCOMP
• 2026-05-21 Pending — MiRealSource-MiMLS
• 2026-05-15 Listed $70,000 MiRealSource-MiMLS
• 2026-05-15 Listed $70,000 REALCOMP
• 2015-10-16 Sold (MLS) $6,114 MiRealSource-MiMLS
• 2015-10-16 Sold (MLS) $6,114 REALCOMP
• 2015-09-24 Listing Removed — MiRealSource-MiMLS
• 2015-07-07 Listed $11,400 MiRealSource-MiMLS
• 2015-07-07 Listed $11,400 REALCOMP
• 1999-05-21 Sold (MLS) $30,000 REALCOMP
• 1999-05-21 Sold (MLS) $30,000 MiRealSource-MiMLS
• 1999-01-25 Listed $35,500 REALCOMP
• 1999-01-25 Listed $35,500 MiRealSource-MiMLS

Property tax history

-1.8%/yr

Latest (2025): $693 · -40.1% YoY. Source: county tax records.