47619 2nd St · Houghton, MI 49931

$174,900

3 bd · 2.0 ba · 1,128 sqft · SingleFamily public records · 4 Days on market

Built 1900 6,534 sqft lot Est $131k · 34% over

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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 +13.1/30.0
• Schools +5.5/10.0
• 1% rule +3.9/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy, well-kept, and nicely finished, this 3 bedroom, 1.5 bathroom home offers 1,148 finished square feet in a convenient Houghton, MI location. Set on a good-sized corner lot, the property provides a comfortable layout with a main floor bedroom, laundry room/half bathroom, living room, kitchen, dining area, and entry space, plus two additional bedrooms and a full bathroom upstairs. The home has been used as an income property over the last few years, making it a great option for those looking for an investment opportunity, a starter home, or a more manageable property to downsize into. A single-car garage adds useful parking and storage, while the corner lot gives the property a nice sense of space. The nice-sized deck offers additional outdoor space to relax or entertain. Recent updates include a new boiler in 2024 and a new garage roof in 2024, adding valuable peace of mind. Located within close walking distance of Houghton-Portage Middle/High School and near Michigan Tech, downtown Houghton, shopping, restaurants, trails, and area amenities, this home offers a practical combination of location, condition, and flexibility. Whether you are looking for your next home or a property with rental potential, this one is worth a look. • NOTICE: All information believed accurate but not warranted. It is the Buyers obligation to inspect the property and verify all information. The buyer bears all risks for any inaccuracies. Tax information is subject to change. Taxes are not 0. References to square footage, lot size/dimensions, and age are approximate.

Key facts

• New boiler
• Single car garage
• Main floor bedroom

Tags

• CORNER LOT
• MAIN FLOOR BEDROOM
• LAUNDRY ROOM HALF BATHROOM
• SINGLE CAR GARAGE
• NICE SIZED DECK
• NEW BOILER

Property features AI

Finance

• Other: Property listed as standard condition
• Financial info: No land contract

Exterior

• Parking: Detached 1-car garage; 3+ parking spaces total; On-street parking; Unassigned/general parking
• Utilities: Public water; Public sanitary sewer; 100 amp electric service with circuit breakers; Natural gas connected; Gas water heater; Cable connected; Hard-line internet (Spectrum available); Electricity connected
• Home design: Residential property; 2-story structure; Investment-friendly
• Construction: Vinyl siding and trim; Michigan basement foundation; Built in 1900
• Exterior features: Deck; Porch; Corner lot; Walkable to school; Irregular-shaped lot; Frontage on road; City/county paved year-round roads

Interior

• Kitchen: Dishwasher; Range/oven; Refrigerator
• Bedrooms: First-floor bedroom (13 x 10); Second-floor bedroom (13 x 9); Second-floor bedroom (approx. 9 ft width)
• Bathrooms: One full bathroom; One lavatory (half bath)
• Heating & cooling: Baseboard heating; Boiler hot water heating; Natural gas heat; Ceiling fans; Wall/window air conditioning
• Interior features: Cable/Internet available; Sump pump; Entry and living room; Lower-level laundry; First-floor lavatory; Second-floor full bathroom; Has basement with interior access (Michigan basement)
• Laundry & utility: Washer; Dryer; Lower-level laundry area

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-6 ($-76/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (0.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (11.1% below list).
• Recommended offer: $156k (11.1% 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: schools A+, crime A+, cost of living 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.
• 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 $5k 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 13y 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.
• Current owner paid $118k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $155,528 (11.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.89% ✗
• Cap rate: 6.25%
• Cash-on-cash: -0.16%
• DSCR: 0.99
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $130,848
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
47594 First St	0.06mi	3/1.0	1,136 (+1%)	6mo	$142,000	$125	87
47604 1st St	0.05mi	3/1.0	1,188 (+5%)	0mo	$156,000	$131	84
47564 1st St	0.09mi	4/1.0 (+1)	1,217 (+8%)	18mo	$111,000	$91	58
47824 Main St	0.40mi	3/1.0	1,018 (-10%)	19mo	$118,120	$116	45
19986 Horatio St	0.50mi	2/1.0 (-1)	1,026 (-9%)	11mo	$95,000	$93	43
305 Sibley Ave	0.74mi	3/1.0	1,215 (+8%)	20mo	$140,000	$115	32

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: -16.5%
• Equity multiple: 0.41×
• Total profit: $-28,706
• Equity at exit: $26,078

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-25,357
• Equity at exit: $15,122

Cash invested: $48,972 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,555 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$245 /mo · $2,939/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-6

Break-even live

Break-even rent $1,563

Max offer price $173,778

Occupancy floor 95%

Sensitivity live

Price	-10% $93	-5% $43	+0% $-6	+5% $-56	+10% $-105
Rent	-10% $-129	-5% $-68	+0% $-6	+5% $55	+10% $117
Rate	-1.0pp $82	-0.5pp $38	base $-6	+0.5pp $-52	+1.0pp $-98

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-06-12
   statusdays on market $174,900 Pending 4 DOM
2. 2026-06-09
   days on market $174,900 Active 3 DOM
3. 2026-06-08
   days on market $174,900 Active 2 DOM
4. 2026-06-07
   remarks 699-char remark
5. 2026-06-07
   listed $174,900 Active 1 DOM

ⓘ 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: $2,939 · $245/mo
• Projected year-2 tax: $2,939 · $245/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 12 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,663
• − Mortgage interest: −$9,797
• − Property taxes: −$2,939
• − Insurance: −$874
• − Repairs & maintenance: −$1,493
• − Management: −$1,493
• − Depreciation: −$5,088
• Taxable loss: −$3,022
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $649/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

• 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

+94.5% since first listed

11 events — show timeline

• 2026-06-05 Listed $174,900 MiRealSource-MiMLS
• 2026-06-05 Listed $174,900 UPAR
• 2020-04-03 Sold (Public Records) $118,000 Public Records
• 2015-09-24 Sold (MLS) $46,500 UPAR
• 2015-09-24 Sold (MLS) $46,500 MiRealSource-MiMLS
• 2015-06-19 Listed $60,689 UPAR
• 2015-06-19 Listed $60,689 MiRealSource-MiMLS
• 2014-09-16 Listing Removed — MiRealSource-MiMLS
• 2014-03-17 Listed $79,900 MiRealSource-MiMLS
• 2014-02-28 Listing Removed — MiRealSource-MiMLS
• 2013-12-28 Listed $89,900 MiRealSource-MiMLS

Property tax history

+21.3%/yr

Latest (2025): $2,939 · +5.0% YoY. Source: county tax records.