308 W Houghton Ave · Houghton, MI 49931

$195,000

3 bd · 1.0 ba · 1,368 sqft · SingleFamily public records · 113 Days on market

Built 1918 0.60 ac lot Est $187k · at est.

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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 +14.7/30.0
• ARV discount +5.7/15.0
• Schools +5.5/10.0
• DSCR +4.5/10.0
• Livability +3.9/5.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Neat and tidy 3 bedroom, 1 bath rental property in the City of Houghton. On the main floor are a cozy living room, dining room, and spacious eat-in kitchen. The kitchen has access to a deck/balcony with an amazing view of the Portage Canal and Quincy mine. Upstairs are 3 bedrooms with closets and a full bath. Leased for $900/month, tenant pays utilities. Lease expires April 30, 2026 making this either a great income property or make this your own home. Laundry is located in the basement and basement has outdoor access.

Key facts

• Deck balcony
• Outdoor access
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• DECK BALCONY
• VIEW OF PORTAGE CANAL
• OUTDOOR ACCESS

Property features AI

Finance

• Other: Property classified as 1 to 4 units (residential); Lot size about 0.6 acres (frontage approx. 25')

Exterior

• Parking: No outbuildings
• Utilities: Public water and public sanitary sewer; Natural gas connected; gas water heater; Electricity connected with 100 amp service and circuit breakers; Cable available and internet (Spectrum) available
• Home design: Residential 2-story structure; Built in 1918; View-facing frontage on a road
• Construction: Wood exterior; Basement foundation; Full basement (finished below-grade area not listed)
• Exterior features: Exterior balcony; Deck; Canal/Portage Canal view; Platted lot within city limits; City/County paved year-round road access

Interior

• Kitchen: Eat-in kitchen on the first floor (approx. 9 x 16); Range/oven; Refrigerator
• Bedrooms: Three bedrooms located on the second floor (approx. 11 x 15; 8 x 15; 11' wide); Carpet in all bedrooms
• Flooring: Carpet in living and dining areas and bedrooms; Vinyl in kitchen and bathroom
• Bathrooms: One full bathroom on the second floor; Vinyl floor in bathroom (approx. 7 x 5)
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Cable/internet available; Full walk-out basement with interior access and stone foundation
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $49 ($587/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (15.9% below list).
• Recommended offer: $164k (15.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 77/100 on livability (#118 in MI, #2,903 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: housing D+, commute F, employment F.
• Houghton-Portage Township School District (rural): math 65% / reading 69% proficiency, ranked #29 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Houghton Elementary School (math 69% / reading 65%, grade B+, #105 of 1,397 statewide, top 9%, 643 students, 35% FRL); Houghton Middle School (math 61% / reading 67%, grade B+, #39 of 493 statewide, top 8%, 341 students, 32% FRL); Houghton Central High School (math 67% / reading 82%, grade B+, #19 of 713 statewide, top 3%, 461 students, 25% FRL).
• Market conditions: 49 active listings in the ZIP; 111 units permitted in Houghton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Houghton County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $164,091 (15.9% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1918 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 0.84% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.08%
• DSCR: 1.05
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $187,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
503 W Baraga Ave	0.29mi	3/1.0	1,325 (-3%)	2mo	$165,000	$125	80
504 W South Ave	0.12mi	3/1.0	1,500 (+10%)	3mo	$129,000	$86	76
107 E South Ave	0.20mi	3/2.0	1,308 (-4%)	9mo	$179,000	$137	72
707 W Douglass Ave	0.26mi	3/1.5	1,265 (-8%)	3mo	$212,000	$168	70
106 E Houghton Ave	0.21mi	3/2.0	1,500 (+10%)	2mo	$209,000	$139	68
505 W Fourth St	0.20mi	3/2.0	1,458 (+7%)	12mo	$259,500	$178	66
48454 Lincoln St	0.52mi	3/2.0	1,437 (+5%)	2mo	$222,500	$155	62
507 4th St	0.20mi	4/2.0 (+1)	1,247 (-9%)	11mo	$127,000	$102	58
701 Memorial Dr	0.21mi	3/2.5	1,163 (-15%)	3mo	$315,000	$271	57
19529 Mckinley St	0.68mi	3/1.0	1,345 (-2%)	12mo	$149,000	$111	56
611 Finn St	0.72mi	3/1.0	1,328 (-3%)	12mo	$148,000	$111	52
19554 Sampson St	0.62mi	3/1.5	1,288 (-6%)	9mo	$165,000	$128	52

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: -14.6%
• Equity multiple: 0.48×
• Total profit: $-28,519
• Equity at exit: $29,075

10-year hold

• IRR: -6.0%
• Equity multiple: 0.62×
• Total profit: $-20,971
• Equity at exit: $16,860

Cash invested: $54,600 (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 49931

• Active inventory: 49
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,641 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$144 /mo · $1,723/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $49

Break-even live

Break-even rent $1,579

Max offer price $195,000

Occupancy floor 92%

Sensitivity live

Price	-10% $159	-5% $104	+0% $49	+5% $-6	+10% $-61
Rent	-10% $-81	-5% $-16	+0% $49	+5% $114	+10% $179
Rate	-1.0pp $147	-0.5pp $99	base $49	+0.5pp $-2	+1.0pp $-53

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $195,000 Active 113 DOM
2. 2026-06-21
   pricedays on market $195,000 Active 112 DOM
3. 2026-06-18
   days on market $225,000 Active 110 DOM
4. 2026-06-17
   days on market $225,000 Active 109 DOM
5. 2026-06-16
   days on market $225,000 Active 108 DOM
6. 2026-06-15
   days on market $225,000 Active 107 DOM
7. 2026-06-13
   days on market $225,000 Active 105 DOM
8. 2026-06-12
   days on market $225,000 Active 104 DOM
9. 2026-06-09
   days on market $225,000 Active 101 DOM
10. 2026-06-08
    days on market $225,000 Active 100 DOM
11. 2026-06-07
    days on market $225,000 Active 99 DOM
12. 2026-06-07
    days on market $225,000 Active 98 DOM
13. 2026-06-04
    days on market $225,000 Active 95 DOM
14. 2026-06-02
    days on market $225,000 Active 94 DOM
15. 2026-06-01
    days on market $225,000 Active 93 DOM
16. 2026-05-31
    days on market $225,000 Active 92 DOM
17. 2026-05-31
    days on market $225,000 Active 91 DOM
18. 2026-02-27
    listed $225,000 Active 524-char remark

    Show marketing remark (524 chars)

    Neat and tidy 3 bedroom, 1 bath rental property in the City of Houghton. On the main floor are a cozy living room, dining room, and spacious eat-in kitchen. The kitchen has access to a deck/balcony with an amazing view of the Portage Canal and Quincy mine. Upstairs are 3 bedrooms with closets and a full bath. Leased for $900/month, tenant pays utilities. Lease expires April 30, 2026 making this either a great income property or make this your own home. Laundry is located in the basement and basement has outdoor access.

19. 2026-02-27
    listed $225,000 Active 524-char remark

    Show marketing remark (524 chars)

    Neat and tidy 3 bedroom, 1 bath rental property in the City of Houghton. On the main floor are a cozy living room, dining room, and spacious eat-in kitchen. The kitchen has access to a deck/balcony with an amazing view of the Portage Canal and Quincy mine. Upstairs are 3 bedrooms with closets and a full bath. Leased for $900/month, tenant pays utilities. Lease expires April 30, 2026 making this either a great income property or make this your own home. Laundry is located in the basement and basement has outdoor access.

ⓘ 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: $1,723 · $144/mo
• Projected year-2 tax: $2,363 · $197/mo
• Expected delta: +$640/yr (+$53/mo · 37.2%)

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

Taxation est. · year 1

• Rental income: $19,691
• − Mortgage interest: −$10,923
• − Property taxes: −$1,723
• − Insurance: −$975
• − Repairs & maintenance: −$1,575
• − Management: −$1,575
• − Depreciation: −$5,673
• Taxable loss: −$2,753
• Est. tax savings @ 24.0%: +$661
• After-tax cash flow: $1,248/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: Houghton-Portage Township School District
• NCES district ID: 2628890
• Math proficiency: 65% ▲ 1.00%
• Reading proficiency: 69% ▲ 2.00%
• Median HH income: $30,960
• Composite: 55.05/100
• National rank: #1289
• State rank: #29 of 540 in MI

Livability — Houghton

• Score: 77/100
• State rank: #118
• US rank: #2903

Category grades

Amenities C+ Commute F Cost of living A+ Crime A+ Employment F Housing D+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houghton, MI
• Population (ZIP): 10,229

Population outlook (Houghton County) Hauer SSP2

• Today (2025): 35,073 people
• By 2030: 34,645 · -1.2%
• By 2040: 33,248 · -5.2%
• By 2050: 31,625 · -9.8%
• By 2075: 28,105 · -19.9%
• By 2100: 23,274 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Asian 7% Two or more races 3% Hispanic / Latino 3% Black 2% Native American 1%
• Common ancestry: Italian 10% Romanian 8% Lithuanian 3%
• Foreign-born: 13% · China, Canada
• Languages at home: 85% English-only · Other Indo-European 5% Other Asian/Pacific 2% Chinese 2%

Political lean MEDSL · Houghton

• 2024 margin: R (+17.0) · D 40.7% · R 57.7% · Other 1.6%
• 2008→2024 swing: -13.1pp toward R · 2008: -3.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+14.2 2016: R+15.7 2012: R+10.2 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -176.44%
• Current HPI: 173.951
• 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

+0.0% since first listed

2 events — show timeline

• 2026-02-27 Listed $225,000 UPAR
• 2026-02-27 Listed $225,000 MiRealSource-MiMLS

Property tax history

+5.8%/yr

Latest (2025): $1,723 · +4.7% YoY. Source: county tax records.