42 S Main St · Elkton, MI 48731

$174,000

3 bd · 1.0 ba · 1,512 sqft · SingleFamily public records · 67 Days on market

Built 1890 0.37 ac lot Est $184k · 6% under ↓ 13% since listing

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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).

• ARV discount +10.1/15.0
• Appreciation +10.0/10.0
• Cash flow +9.2/30.0
• Schools +3.3/10.0
• Livability +3.2/5.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0

Listing remarks MLS

Beautifully Restored 1890 Brick Home in the Heart of Elkton This charming 3 bedroom, 1.5 bath brick home has been thoughtfully brought back to life, blending the timeless character of 1890 craftsmanship with fresh, modern updates. Step inside to a brand-new kitchen, new carpet, and stylish touches throughout. You'll love the preserved original details - artisan woodwork, large trim, and a stunning built-in cabinet with leaded glass - all complemented by modern and refreshed bathrooms that offer the best of both worlds. Outside, enjoy a deep city lot, perfect for gardening, entertaining, or simply soaking in the peaceful surroundings. Located in the heart of Elkton, this home offers small-town charm with everyday convenience. A truly special home where history meets modern living - ready for its next chapter!

Key facts

• Brand new kitchen
• Built in cabinet
• Restored brick home

Tags

• RESTORED BRICK HOME
• BRAND NEW KITCHEN
• ORIGINAL DETAILS
• BUILT IN CABINET
• DEEP CITY LOT
• SMALL TOWN CHARM

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Stone exterior
• Construction: Block foundation; Built with stone materials
• Exterior features: Covered porch; Ground-level entry with steps; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing electric oven; Free-standing electric range; Free-standing refrigerator; Free-standing freezer
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Full, unfinished basement; 7 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $-130 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (13.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (29.2% below list).
• Recommended offer: $123k (29.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#507 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, crime B; Watch: health & safety C-, schools F, amenities F.
• Elkton-Pigeon-Bay Port Laker Schools (rural): math 31% / reading 47% proficiency, ranked #233 of 540 in MI (top 43%) — 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

• In year one you build about $19k of equity ($1k loan paydown + $17k appreciation (10.0% local appreciation)).
• Huron County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$47k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts 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 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,235 (29.2% 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. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 0.71% ✗
• Cap rate: 5.40%
• Cash-on-cash: -3.19%
• DSCR: 0.86
• GRM: 11.8

CMA / ARV

• ARV (on-the-fly): $184,464
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5152 Hoffman St	0.30mi	3/1.5	1,503 (-1%)	22mo	$165,000	$110	65
5121 Whalen St	0.19mi	2/1.0 (-1)	1,348 (-11%)	7mo	$164,900	$122	62

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.0%
• Equity multiple: 2.77×
• Total profit: $86,463
• Equity at exit: $156,753

10-year hold

• IRR: 19.8%
• Equity multiple: 6.36×
• Total profit: $261,030
• Equity at exit: $338,044

Cash invested: $48,720 (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 48731

• Home prices YoY: 5.0%
• Active inventory: 4
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $1,232 medium
• Mortgage (P&I): −$912
• Tax from tax record: −$118 /mo · $1,419/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $-130

Break-even live

Break-even rent $1,397

Max offer price $151,091

Occupancy floor —

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: $43,500
• Closing costs: $5,220
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-12
   statusdays on market $174,000 Pending 67 DOM
2. 2026-06-09
   days on market $174,000 Active 66 DOM
3. 2026-06-08
   days on market $174,000 Active 65 DOM
4. 2026-06-07
   days on market $174,000 Active 64 DOM
5. 2026-06-05
   days on market $174,000 Active 62 DOM
6. 2026-06-04
   days on market $174,000 Active 60 DOM
7. 2026-06-02
   days on market $174,000 Active 59 DOM
8. 2026-06-01
   days on market $174,000 Active 58 DOM
9. 2026-05-31
   days on market $174,000 Active 57 DOM
10. 2026-05-31
    days on market $174,000 Active 56 DOM
11. 2026-05-12
    price $174,000 825-char remark

    Show marketing remark (825 chars)

    Beautifully Restored 1890 Brick Home in the Heart of Elkton This charming 3 bedroom, 1.5 bath brick home has been thoughtfully brought back to life, blending the timeless character of 1890 craftsmanship with fresh, modern updates. Step inside to a brand-new kitchen, new carpet, and stylish touches throughout. You'll love the preserved original details - artisan woodwork, large trim, and a stunning built-in cabinet with leaded glass - all complemented by modern and refreshed bathrooms that offer the best of both worlds. Outside, enjoy a deep city lot, perfect for gardening, entertaining, or simply soaking in the peaceful surroundings. Located in the heart of Elkton, this home offers small-town charm with everyday convenience. A truly special home where history meets modern living - ready for its next chapter!

12. 2026-05-12
    status Active 825-char remark

    Show marketing remark (825 chars)

    Beautifully Restored 1890 Brick Home in the Heart of Elkton This charming 3 bedroom, 1.5 bath brick home has been thoughtfully brought back to life, blending the timeless character of 1890 craftsmanship with fresh, modern updates. Step inside to a brand-new kitchen, new carpet, and stylish touches throughout. You'll love the preserved original details - artisan woodwork, large trim, and a stunning built-in cabinet with leaded glass - all complemented by modern and refreshed bathrooms that offer the best of both worlds. Outside, enjoy a deep city lot, perfect for gardening, entertaining, or simply soaking in the peaceful surroundings. Located in the heart of Elkton, this home offers small-town charm with everyday convenience. A truly special home where history meets modern living - ready for its next chapter!

13. 2026-05-12
    status Active

    Show marketing remark (825 chars)

    Beautifully Restored 1890 Brick Home in the Heart of Elkton This charming 3 bedroom, 1.5 bath brick home has been thoughtfully brought back to life, blending the timeless character of 1890 craftsmanship with fresh, modern updates. Step inside to a brand-new kitchen, new carpet, and stylish touches throughout. You'll love the preserved original details - artisan woodwork, large trim, and a stunning built-in cabinet with leaded glass - all complemented by modern and refreshed bathrooms that offer the best of both worlds. Outside, enjoy a deep city lot, perfect for gardening, entertaining, or simply soaking in the peaceful surroundings. Located in the heart of Elkton, this home offers small-town charm with everyday convenience. A truly special home where history meets modern living - ready for its next chapter!

14. 2026-05-12
    price $174,000

    Show marketing remark (825 chars)

    Beautifully Restored 1890 Brick Home in the Heart of Elkton This charming 3 bedroom, 1.5 bath brick home has been thoughtfully brought back to life, blending the timeless character of 1890 craftsmanship with fresh, modern updates. Step inside to a brand-new kitchen, new carpet, and stylish touches throughout. You'll love the preserved original details - artisan woodwork, large trim, and a stunning built-in cabinet with leaded glass - all complemented by modern and refreshed bathrooms that offer the best of both worlds. Outside, enjoy a deep city lot, perfect for gardening, entertaining, or simply soaking in the peaceful surroundings. Located in the heart of Elkton, this home offers small-town charm with everyday convenience. A truly special home where history meets modern living - ready for its next chapter!

15. 2026-03-24
    historical 825-char remark

    Show marketing remark (825 chars)

    Beautifully Restored 1890 Brick Home in the Heart of Elkton This charming 3 bedroom, 1.5 bath brick home has been thoughtfully brought back to life, blending the timeless character of 1890 craftsmanship with fresh, modern updates. Step inside to a brand-new kitchen, new carpet, and stylish touches throughout. You'll love the preserved original details - artisan woodwork, large trim, and a stunning built-in cabinet with leaded glass - all complemented by modern and refreshed bathrooms that offer the best of both worlds. Outside, enjoy a deep city lot, perfect for gardening, entertaining, or simply soaking in the peaceful surroundings. Located in the heart of Elkton, this home offers small-town charm with everyday convenience. A truly special home where history meets modern living - ready for its next chapter!

16. 2026-03-03
    price $170,000 825-char remark

    Show marketing remark (825 chars)

    Beautifully Restored 1890 Brick Home in the Heart of Elkton This charming 3 bedroom, 1.5 bath brick home has been thoughtfully brought back to life, blending the timeless character of 1890 craftsmanship with fresh, modern updates. Step inside to a brand-new kitchen, new carpet, and stylish touches throughout. You'll love the preserved original details - artisan woodwork, large trim, and a stunning built-in cabinet with leaded glass - all complemented by modern and refreshed bathrooms that offer the best of both worlds. Outside, enjoy a deep city lot, perfect for gardening, entertaining, or simply soaking in the peaceful surroundings. Located in the heart of Elkton, this home offers small-town charm with everyday convenience. A truly special home where history meets modern living - ready for its next chapter!

17. 2026-03-02
    price $170,000
18. 2026-02-16
    listed $175,000 Active
19. 2026-02-15
    listed $175,000 Active 825-char remark

    Show marketing remark (825 chars)

    Beautifully Restored 1890 Brick Home in the Heart of Elkton This charming 3 bedroom, 1.5 bath brick home has been thoughtfully brought back to life, blending the timeless character of 1890 craftsmanship with fresh, modern updates. Step inside to a brand-new kitchen, new carpet, and stylish touches throughout. You'll love the preserved original details - artisan woodwork, large trim, and a stunning built-in cabinet with leaded glass - all complemented by modern and refreshed bathrooms that offer the best of both worlds. Outside, enjoy a deep city lot, perfect for gardening, entertaining, or simply soaking in the peaceful surroundings. Located in the heart of Elkton, this home offers small-town charm with everyday convenience. A truly special home where history meets modern living - ready for its next chapter!

20. 2025-09-17
    status Pending
21. 2025-09-17
    status Pending
22. 2025-09-17
    historical
23. 2025-09-17
    historical
24. 2025-09-04
    price $170,000
25. 2025-09-04
    price $170,000
26. 2025-07-02
    price $179,900
27. 2025-07-02
    price $179,900
28. 2025-06-03
    price $189,900
29. 2025-06-03
    price $189,900
30. 2025-05-06
    listed $199,900 Active
31. 2025-05-06
    listed $199,900 Active

ⓘ 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: $1,419 · $118/mo
• Projected year-2 tax: $2,049 · $171/mo
• Expected delta: +$630/yr (+$53/mo · 44.4%)

ⓘ 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 ≥96°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: $14,788
• − Mortgage interest: −$9,747
• − Property taxes: −$1,419
• − Insurance: −$870
• − Repairs & maintenance: −$1,183
• − Management: −$1,183
• − Depreciation: −$5,062
• Taxable loss: −$4,676
• Est. tax savings @ 24.0%: +$1,122
• After-tax cash flow: $-434/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: Elkton-Pigeon-Bay Port Laker Schools
• NCES district ID: 2613090
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 47% ▼ -5.00%
• Median HH income: $42,799
• Composite: 32.92/100
• National rank: #5600
• State rank: #233 of 540 in MI

Livability — Elkton

• Score: 63/100
• State rank: #507
• US rank: #15050

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: Elkton, MI
• Population (ZIP): 1,522

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% Asian 2% Hispanic / Latino 1%
• Common ancestry: Romanian 17% Slovak 4% Lithuanian 3%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 98% English-only · Spanish 1% Korean 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: ▲ 11.19%
• Current HPI: 233.4583
• 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

-13.0% since first listed

21 events — show timeline

• 2026-05-12 Price Changed $174,000 MiRealSource-MiMLS
• 2026-05-12 Relisted — MiRealSource-MiMLS
• 2026-05-12 Relisted — REALCOMP
• 2026-05-12 Price Changed $174,000 REALCOMP
• 2026-03-24 Listing Removed — MiRealSource-MiMLS
• 2026-03-03 Price Changed $170,000 MiRealSource-MiMLS
• 2026-03-02 Price Changed $170,000 REALCOMP
• 2026-02-16 Listed $175,000 REALCOMP
• 2026-02-15 Listed $175,000 MiRealSource-MiMLS
• 2025-09-17 Pending — MiRealSource-MiMLS
• 2025-09-17 Pending — REALCOMP
• 2025-09-17 Listing Removed — REALCOMP
• 2025-09-17 Listing Removed — MiRealSource-MiMLS
• 2025-09-04 Price Changed $170,000 MiRealSource-MiMLS
• 2025-09-04 Price Changed $170,000 REALCOMP
• 2025-07-02 Price Changed $179,900 MiRealSource-MiMLS
• 2025-07-02 Price Changed $179,900 REALCOMP
• 2025-06-03 Price Changed $189,900 MiRealSource-MiMLS
• 2025-06-03 Price Changed $189,900 REALCOMP
• 2025-05-06 Listed $199,900 REALCOMP
• 2025-05-06 Listed $199,900 MiRealSource-MiMLS

Property tax history

+1.2%/yr

Latest (2025): $1,419 · -30.3% YoY. Source: county tax records.