4439 Main St

Rubicon, MI 48468

$29,000B

1 bd · 2.0 ba · 2,400 sqft · Built 1920 · SingleFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $977/mo
• Mortgage (P&I): −$152
• Tax + insurance: −$48
• HOA: −$0
• Vac / Maint / Mgmt: −$205
• Net cashflow: $572/mo
• Annual: $6,859/yr
• Cap rate: 29.95%
• Cash-on-cash: 84.47%
• DSCR: 4.76
• 1% rule: 3.37%
• Cash to close: $8,120

Investor read

• This is a 1-bed/2.0-bath single-family listed at $29k. Condition is rated poor.
• 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).
• It's been on market 46 days — a 3% lower offer ($28k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $28k (3.0% below list) — sets the bar for market timing.
• In year one you build about $2k of equity ($200 loan paydown + $1k appreciation (4.9% local appreciation)).
• 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.
• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 12 active listings in the ZIP; 67 units permitted in Huron County in 2024 (0 in 5+ unit buildings).
• Huron County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 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.
• 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.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• 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