2123 Union St · Ubly, MI 48475

$84,900

2 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 101 Days on market

Built 1960 0.31 ac lot $68/sqft · 8% above area Est $152k · 44% under ↓ 37% since listing

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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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.2/10.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they'd share generations of memories - now it's ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

Key facts

• 0.31 acre lot
• Garage
• Built 1960

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $251 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#402 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: health & safety C-, employment D, amenities F.
• Ubly Community Schools (rural): math 32% / reading 52% proficiency, ranked #188 of 540 in MI (top 35%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 4 active listings in the ZIP; 67 units permitted in Huron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Huron County population projected at -26% 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 $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $50k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $77,259 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. 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: 1.22% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.69%
• DSCR: 1.56
• GRM: 6.8

CMA / ARV

• ARV (median comp): $152,139
• List price: $84,900
• Delta: -44.20%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1975 Agnes St	0.27mi	3/1.5 (+1)	1,296 (+4%)	8mo	$170,000	$131	67
2131 Weaver St	0.17mi	2/1.0	1,195 (-4%)	23mo	$40,000	$33	65
2067 E Main St	0.10mi	3/2.0 (+1)	1,400 (+12%)	12mo	$153,500	$110	55

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: 2.5%
• Equity multiple: 1.09×
• Total profit: $2,252
• Equity at exit: $12,659

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $22,586
• Equity at exit: $7,341

Cash invested: $23,772 (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 48475

• Home prices YoY: -20.9%
• Active inventory: 4
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,036 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$86 /mo · $1,035/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $251

Break-even live

Break-even rent $718

Max offer price $84,900

Occupancy floor 71%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-05-14
   status Active 633-char remark

   Show marketing remark (649 chars)

   Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

2. 2026-05-14
   status Active 649-char remark

   Show marketing remark (649 chars)

   Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

3. 2026-05-08
   historical Accepting Backup Offers 633-char remark

   Show marketing remark (649 chars)

   Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

4. 2026-05-08
   historical Active Under Contract 649-char remark

   Show marketing remark (649 chars)

   Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

5. 2026-04-28
   price $84,900 633-char remark

   Show marketing remark (633 chars)

   Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they'd share generations of memories - now it's ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

6. 2026-04-27
   price $84,900 649-char remark

   Show marketing remark (649 chars)

   Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

7. 2026-04-06
   price $99,900 633-char remark

   Show marketing remark (649 chars)

   Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

8. 2026-04-06
   price $99,900 649-char remark

   Show marketing remark (649 chars)

   Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

9. 2026-03-27
   price $119,900 633-char remark

   Show marketing remark (649 chars)

   Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

10. 2026-03-27
    price $119,900 649-char remark

    Show marketing remark (649 chars)

    Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

11. 2026-02-13
    listed $134,900 Active 633-char remark

    Show marketing remark (649 chars)

    Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

12. 2026-02-13
    listed $134,900 Active 649-char remark

    Show marketing remark (649 chars)

    Owned by the same family for over 60 years, this cherished home is filled with stories of family, love, and laughter. If the walls could talk, they’d share generations of memories — now it’s ready for its next chapter. Offering 3 bedrooms and 2 bathrooms, this home features an attached 1.5-car garage and sits in a quiet, welcoming neighborhood just down the street from Ubly Schools. Enjoy the comfort of small-town living where neighbors feel like family and everything you need is close by. With a little vision and care, you can bring this timeless home back to life and make it your own. Call for your personal viewing today!

ⓘ 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: $1,035 · $86/mo
• Projected year-2 tax: $1,171 · $98/mo
• Expected delta: +$136/yr (+$11/mo · 13.2%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥97°F today · 13 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: $12,428
• − Mortgage interest: −$4,756
• − Property taxes: −$1,035
• − Insurance: −$424
• − Repairs & maintenance: −$994
• − Management: −$994
• − Depreciation: −$2,470
• Taxable income: $1,754
• Est. tax owed @ 24.0%: −$421
• After-tax cash flow: $2,595/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: Ubly Community Schools
• NCES district ID: 2634380
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 52% ▼ -3.00%
• Median HH income: $45,820
• Composite: 35.67/100
• National rank: #4876
• State rank: #188 of 540 in MI

Livability — Ubly

• Score: 67/100
• State rank: #402
• US rank: #10936

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ubly, MI
• Population (ZIP): 2,423

Population outlook (Huron County) Hauer SSP2

• Today (2025): 29,325 people
• By 2030: 27,810 · -5.2%
• By 2040: 24,571 · -16.2%
• By 2050: 21,573 · -26.4%
• By 2075: 16,120 · -45.0%
• By 2100: 11,097 · -62.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (99%)
• Race & ethnicity: White 99%
• Common ancestry: Romanian 33% Lithuanian 3% Slovak 2%
• Foreign-born: 0%
• Languages at home: 98% English-only · German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Huron

• 2024 margin: Solid R (+40.6) · D 29.1% · R 69.7% · Other 1.2%
• 2008→2024 swing: -40.2pp toward R · 2008: -0.4pp · 2024: -40.6pp
• All cycles: 2024: R+40.6 2020: R+39.3 2016: R+38.2 2012: R+14.8 2008: R+0.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -56.39%
• Current HPI: 212.7277
• 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

-37.1% since first listed

12 events — show timeline

• 2026-05-14 Relisted — MiRealSource-MiMLS
• 2026-05-14 Relisted — REALCOMP
• 2026-05-08 Contingent — MiRealSource-MiMLS
• 2026-05-08 Contingent — REALCOMP
• 2026-04-28 Price Changed $84,900 MiRealSource-MiMLS
• 2026-04-27 Price Changed $84,900 REALCOMP
• 2026-04-06 Price Changed $99,900 MiRealSource-MiMLS
• 2026-04-06 Price Changed $99,900 REALCOMP
• 2026-03-27 Price Changed $119,900 MiRealSource-MiMLS
• 2026-03-27 Price Changed $119,900 REALCOMP
• 2026-02-13 Listed $134,900 REALCOMP
• 2026-02-13 Listed $134,900 MiRealSource-MiMLS

Property tax history

+1.3%/yr

Latest (2025): $1,035 · -26.9% YoY. Source: county tax records.