4439 Main St · Rubicon, MI 48468

$29,000

1 bd · 2.0 ba · 2,400 sqft · SingleFamily · 46 Days on market

Built 1920 Poor condition 1,307 sqft lot ↓ 26% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0

Listing remarks MLS

Rare chance to own a gutted, historic building on Main Street in the charming waterfront town of Port Hope. Licensed builder-owner offers a customizable build-out option (quoted separately) with easy access to building permit. Prime location near a new wedding chapel and just one block from the beach. Enjoy stunning upstairs lake views - endless potential awaits! New subfloors and staircase going to upstairs. Roof is approximately 10 years old – good, has two new 250 AMP service panels (upper and lower) ready for wiring. Zoned Commercial/Residential on a commercial stretch of Main Street (Highway 25 that runs along the west coast of Port Huron. 500 ft. - 5 minute walk to the beach and boat wells (spaces always available) on Lake Huron visible from the upper floor. 2 ½ Hours from Detroit along Scenic Highway 25, 1 hour from Port Huron and ½ hour from Port Austin. Great for office and or business downstairs – residential upstairs (severe shortage of rental properties in the area) or AIRBNB type rental. Beautiful little town along Scenic Lakeshore Drive (Huron) – a vacation mecca in the thumb – close driving range from Detroit.

Key facts

• New subfloors
• New staircase
• Prime location

Tags

• CUSTOMIZABLE BUILD-OUT OPTION
• EASY ACCESS TO BUILDING PERMIT
• PRIME LOCATION
• STUNNING UPSTAIRS LAKE VIEWS
• NEW SUBFLOORS
• NEW STAIRCASE

Property features AI

Exterior

• Parking: No garage
• Utilities: Circuit breaker electric panel; Public water available; Public sewer available
• Home design: Single-family residence; Two-story
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Ground-level entry with steps; Road frontage on interstate/highway; Irregular lot shape; 0.03-acre lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; No central cooling
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 1-bed/2.0-bath single-family listed at $29k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($977 rent vs $29k).
• Recommended offer: $28k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• North Huron School District (rural): math 25% / reading 40% proficiency, ranked #502 of 760 in MI (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 12 active listings in the ZIP; 67 units permitted in Huron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($200 loan paydown + $1k appreciation (4.9% local appreciation)).
• Huron County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $28,130 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.37% ✓
• Cap rate: 29.95%
• Cash-on-cash: 84.47%
• DSCR: 4.76
• GRM: 2.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

4.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 90.2%
• Equity multiple: 6.29×
• Total profit: $42,988
• Equity at exit: $16,310

10-year hold

• IRR: 88.5%
• Equity multiple: 13.14×
• Total profit: $98,568
• Equity at exit: $28,048

Cash invested: $8,120 (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 48468

• Home prices YoY: 2.6%
• Active inventory: 12
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $977 medium
• Mortgage (P&I): −$152
• Tax est. 1.5%: −$36 /mo · $435/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $572

Break-even live

Break-even rent $254

Max offer price $29,000

Occupancy floor 37%

Sensitivity live

Price	-10% $592	-5% $582	+0% $572	+5% $562	+10% $552
Rent	-10% $494	-5% $533	+0% $572	+5% $610	+10% $649
Rate	-1.0pp $586	-0.5pp $579	base $572	+0.5pp $564	+1.0pp $556

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: $7,250
• Closing costs: $870
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $29,000 Active 46 DOM
2. 2026-06-18
   days on market $29,000 Active 44 DOM
3. 2026-06-17
   days on market $29,000 Active 43 DOM
4. 2026-06-16
   days on market $29,000 Active 42 DOM
5. 2026-06-15
   days on market $29,000 Active 41 DOM
6. 2026-06-13
   days on market $29,000 Active 39 DOM
7. 2026-06-12
   days on market $29,000 Active 38 DOM
8. 2026-06-09
   days on market $29,000 Active 35 DOM
9. 2026-06-08
   days on market $29,000 Active 34 DOM
10. 2026-06-07
    days on market $29,000 Active 33 DOM
11. 2026-06-05
    days on market $29,000 Active 31 DOM
12. 2026-06-04
    days on market $29,000 Active 29 DOM
13. 2026-06-02
    days on market $29,000 Active 28 DOM
14. 2026-06-01
    days on market $29,000 Active 27 DOM
15. 2026-05-31
    days on market $29,000 Active 26 DOM
16. 2026-05-31
    days on market $29,000 Active 25 DOM
17. 2026-05-05
    listed $29,000 Active 1246-char remark

    Show marketing remark (1246 chars)

    Rare chance to own a gutted, historic building on Main Street in the charming waterfront town of Port Hope. Licensed builder-owner offers a customizable build-out option (quoted separately) with easy access to building permit. Prime location near a new wedding chapel and just one block from the beach. Enjoy stunning upstairs lake views - endless potential awaits! New subfloors and staircase going to upstairs. Roof is approximately 10 years old – good, has two new 250 AMP service panels (upper and lower) ready for wiring. Zoned Commercial/Residential on a commercial stretch of Main Street (Highway 25 that runs along the west coast of Port Huron. 500 ft. - 5 minute walk to the beach and boat wells (spaces always available) on Lake Huron visible from the upper floor. 2 ½ Hours from Detroit along Scenic Highway 25, 1 hour from Port Huron and ½ hour from Port Austin. Great for office and or business downstairs – residential upstairs (severe shortage of rental properties in the area) or AIRBNB type rental. Beautiful little town along Scenic Lakeshore Drive (Huron) – a vacation mecca in the thumb – close driving range from Detroit.

18. 2026-05-05
    listed $29,000 Active 1186-char remark

    Show marketing remark (1246 chars)

    Rare chance to own a gutted, historic building on Main Street in the charming waterfront town of Port Hope. Licensed builder-owner offers a customizable build-out option (quoted separately) with easy access to building permit. Prime location near a new wedding chapel and just one block from the beach. Enjoy stunning upstairs lake views - endless potential awaits! New subfloors and staircase going to upstairs. Roof is approximately 10 years old – good, has two new 250 AMP service panels (upper and lower) ready for wiring. Zoned Commercial/Residential on a commercial stretch of Main Street (Highway 25 that runs along the west coast of Port Huron. 500 ft. - 5 minute walk to the beach and boat wells (spaces always available) on Lake Huron visible from the upper floor. 2 ½ Hours from Detroit along Scenic Highway 25, 1 hour from Port Huron and ½ hour from Port Austin. Great for office and or business downstairs – residential upstairs (severe shortage of rental properties in the area) or AIRBNB type rental. Beautiful little town along Scenic Lakeshore Drive (Huron) – a vacation mecca in the thumb – close driving range from Detroit.

19. 2025-03-06
    historical
20. 2025-03-06
    historical
21. 2025-03-04
    historical
22. 2025-02-28
    status Active
23. 2024-12-15
    historical
24. 2024-12-14
    listed $35,000 Active
25. 2024-12-05
    listed $35,000 Active
26. 2024-12-05
    listed $35,000 Active
27. 2024-09-30
    historical
28. 2024-09-30
    historical
29. 2024-08-09
    status Active
30. 2024-08-09
    status Active
31. 2024-06-17
    status Pending
32. 2024-06-17
    status Pending
33. 2024-04-30
    listed $39,000 Active
34. 2024-04-30
    listed $39,000 Active

ⓘ 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 1/10 Low 7 d/yr ≥94°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: $11,727
• − Mortgage interest: −$1,624
• − Property taxes: −$435
• − Insurance: −$145
• − Repairs & maintenance: −$938
• − Management: −$938
• − Depreciation: −$844
• Taxable income: $6,802
• Est. tax owed @ 24.0%: −$1,633
• After-tax cash flow: $5,227/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.

Condition & rehab AI · 12 photos

Poor 20/100 Gut rehab

This gutted historic building on Main Street in Port Hope, MI, presents a rare opportunity for a complete renovation. The extensive repairs and updates required make it a significant investment, but the prime location and endless potential make it a worthwhile project.

Repairs flagged

• Major Exterior siding — Peeling and damaged
• Major Windows — Boarded up
• Major Roof — Visible damage and missing shingles
• Major Flooring — Missing
• Major Interior walls — Stripped of paint
• Major HVAC/mechanicals — No visible systems
• Major Landscaping — Minimal and low curb appeal

Value-add opportunities

• Both Exterior siding repair and replacement — Improves both resale and rental value by making the property more attractive and functional.
• Both Windows replacement — Improves both resale and rental value by making the property more attractive and functional.
• Both Roof repair or replacement — Improves both resale and rental value by making the property more attractive and functional.
• Both Flooring installation — Improves both resale and rental value by making the property more functional and attractive.
• Both Interior wall repair and painting — Improves both resale and rental value by making the property more attractive and functional.
• Both HVAC/mechanical installation — Improves both resale and rental value by making the property more functional and attractive.
• Both Landscaping and curb appeal improvements — Improves both resale and rental value by making the property more attractive and functional.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Peeling and damaged	Major	$15,000–50,000
Windows · Boarded up	Major	$15,000–50,000
Roof · Visible damage and missing shingles	Major	$15,000–50,000
Flooring · Missing	Major	$15,000–50,000
Interior walls · Stripped of paint	Major	$15,000–50,000
HVAC/mechanicals · No visible systems	Major	$15,000–50,000
Landscaping · Minimal and low curb appeal	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Both Exterior siding repair and replacement — Improves both resale and rental value by making the property more attractive and functional. ↑
• Both Windows replacement — Improves both resale and rental value by making the property more attractive and functional. ↑
• Both Roof repair or replacement — Improves both resale and rental value by making the property more attractive and functional. ↑
• Both Flooring installation — Improves both resale and rental value by making the property more functional and attractive. ↑
• Both Interior wall repair and painting — Improves both resale and rental value by making the property more attractive and functional. ↑
• Both HVAC/mechanical installation — Improves both resale and rental value by making the property more functional and attractive. ↑
• Both Landscaping and curb appeal improvements — Improves both resale and rental value by making the property more attractive and functional. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: North Huron School District
• NCES district ID: 2625780
• Math proficiency: 25% ▲ 2.00%
• Reading proficiency: 40% ▲ 11.00%
• Median HH income: $39,222
• Composite: 29.95/100
• National rank: #11659
• State rank: #502 of 760 in MI

Livability — Rubicon

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Port Hope, MI
• Population (ZIP): 1,324

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 (96%)
• Race & ethnicity: White 96% Hispanic / Latino 2% Native American 2% Two or more races 1%
• Common ancestry: Romanian 15% Lithuanian 4% Slovak 3%
• Foreign-born: 3% · Canada
• Languages at home: 99% English-only · German/W. Germanic 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: ▲ 4.93%
• Current HPI: 192.1558
• 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

-25.6% since first listed

18 events — show timeline

• 2026-05-05 Listed $29,000 REALCOMP
• 2026-05-05 Listed $29,000 MiRealSource-MiMLS
• 2025-03-06 Listing Removed — MiRealSource-MiMLS
• 2025-03-06 Listing Removed — REALCOMP
• 2025-03-04 Listing Removed — MiRealSource-MiMLS
• 2025-02-28 Relisted — MiRealSource-MiMLS
• 2024-12-15 Listing Removed — MiRealSource-MiMLS
• 2024-12-14 Listed $35,000 MiRealSource-MiMLS
• 2024-12-05 Listed $35,000 REALCOMP
• 2024-12-05 Listed $35,000 MiRealSource-MiMLS
• 2024-09-30 Listing Removed — MiRealSource-MiMLS
• 2024-09-30 Listing Removed — REALCOMP
• 2024-08-09 Relisted — MiRealSource-MiMLS
• 2024-08-09 Relisted — REALCOMP
• 2024-06-17 Pending — MiRealSource-MiMLS
• 2024-06-17 Pending — REALCOMP
• 2024-04-30 Listed $39,000 MiRealSource-MiMLS
• 2024-04-30 Listed $39,000 REALCOMP