398 N Saginaw Street

About this home

Turnkey 2-unit income property capable of producing a 10% + cap rate in the heart of Pontiac! The return on investment (ROI) makes this building profitable. This well-laid-out up and down flat features two separate units furnished, each offering 2 bedrooms and 1 full bath, providing excellent rental potential and strong cash-flow opportunity. Ideal for buy-and-hold investors or owner-occupy whole property or house hack by living in one unit and leasing out the other to offset their mortgage. Possible Airbnb and or VRBO venture for income versatility. Each unit includes its own kitchen and living space, creating functional, desirable layouts for tenants. A full basement adds additional storage potential, and the 2.5-car detached garage provides valuable parking and utility a major tenant bonus. This property presents an attractive entry point pricing for investors looking to expand their portfolio in a high-demand rental area. Conveniently located near Downtown Pontiac, I-75, M-59, Great Lakes Mall, local amenities and restaurants. Secure a multi-unit property with built-in income potential. DSCR loans, Creative financing. Land contract terms are available with $75,000 down payment at 7% interest with a monthly payment of $1904.72 over the course of 11 years with no pre-payment penalty. One year home warranty included for maintenance free living. This property qualifies for all of these incentives 0–3% Down Payment – Making homeownership more accessible. No PMI (Private Mortgage Insurance) = Lower monthly payments. $3,500–$10,500 in Down Payment Grants that are fully forgiven after 5 total but 20% Also 100% financing available. Buyer contribution 1% of sales price. after each year. NOTE: PLEASE SEE CAP CALCULATOR IN THE LAST 4 PHOTOS THAT SHOWS THE POTENTIAL

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in Pontiac

Over the last 90 days, 117 homes sold in Pontiac for a median of $147,200, about $107 per square foot, and the typical one went under contract in 16 days. This home is listed at $250,000, or $154 per square foot, 44% above the city median, and has been on the market 241 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent Pontiac sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $2,648 a year. A buyer who lives here would pay about $1,026 to $4,845 a year once the taxable value resets after the sale, at the 2025 homestead rate of 38.37 mills for Pontiac City and Pontiac schools, plus the 1% administration fee. Michigan resets a home's taxable value the year after it sells, so the seller's bill isn't a good number to budget with. See the math.

Monthly payment estimate

Estimate only, 30 year fixed, includes taxes at a new owner's rate when listed. Ask us for a lender quote.

Location

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