439 Hecla St · Lake Linden, MI 49945

$120,000

4 bd · 1.5 ba · 1,553 sqft · SingleFamily public records · 71 Days on market

Built 1900 6,969 sqft lot $77/sqft · 21% below area Est $148k · 19% under

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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 +26.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.2/10.0
• Appreciation +8.7/10.0
• 1% rule +6.2/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Check out this affordable 1500 square foot, 4-bedroom home in one of Copper Country’s most desirable communities! Located in the heart of Lake Linden, this well-maintained 4 bed, 1.5 bath home offers a great opportunity for buyers looking for space, value, and a convenient location! Situated in a quiet, family-friendly neighborhood, the property blends the ease of in-town living with a peaceful residential setting. Inside, you’ll find a bright and spacious layout featuring a comfortable living area, functional kitchen, and dining space perfect for everyday meals or gathering with friends and family. The upper level includes generously sized bedrooms and a full bath, providing plenty of room for everyone and flexibility for a home office, guests, or hobbies. Recent updates include a new roof and siding in 2018, a new water heater in 2021, and a furnace replacement in 2011. The home also features a deep backyard ideal for outdoor activities or gardening, along with a full basement offering excellent storage and potential for future use. A 1.5-car garage provides convenient parking and additional storage space. Located within walking distance to Lake Linden schools, parks, and local amenities, this property offers both comfort and convenience. Whether you're looking for your first home, more room to spread out, or a smart long-term purchase, this is a great opportunity to own a spacious home at an affordable price point.

Key facts

• 6,969 sq ft lot
• Garage
• Built 1900

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#249 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Lake Linden-Hubbell School District (town): math 38% / reading 54% proficiency, ranked #262 of 760 in MI (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 43 active listings in the ZIP; 111 units permitted in Houghton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($830 loan paydown + $9k appreciation (7.4% local appreciation)).
• Houghton County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (7.4% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $120k implies a 500% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 1.12% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.69%
• DSCR: 1.52
• GRM: 7.4

CMA / ARV

• ARV (median comp): $147,809
• List price: $120,000
• Delta: -18.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
624 6th St	0.15mi	3/1.0 (-1)	1,487 (-4%)	5mo	$105,000	$71	74
831 Front St	0.32mi	4/2.0	1,477 (-5%)	2mo	$175,000	$118	74
1102 Calumet Dr	0.44mi	4/2.0	1,598 (+3%)	8mo	$77,000	$48	66
1005 Calumet St	0.41mi	3/2.0 (-1)	1,540 (-1%)	24mo	$165,000	$107	53

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

Projected returns pro-forma

7.43% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 27.9%
• Equity multiple: 2.96×
• Total profit: $65,944
• Equity at exit: $86,599

10-year hold

• IRR: 25.3%
• Equity multiple: 6.23×
• Total profit: $175,769
• Equity at exit: $167,715

Cash invested: $33,600 (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 49945

• Home prices YoY: 4.2%
• Active inventory: 43
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,344 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$55 /mo · $665/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $327

Break-even live

Break-even rent $930

Max offer price $120,000

Occupancy floor 71%

Sensitivity live

Price	-10% $395	-5% $361	+0% $327	+5% $293	+10% $259
Rent	-10% $221	-5% $274	+0% $327	+5% $380	+10% $433
Rate	-1.0pp $388	-0.5pp $358	base $327	+0.5pp $296	+1.0pp $265

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $120,000 Active 71 DOM
2. 2026-06-18
   days on market $120,000 Active 69 DOM
3. 2026-06-17
   days on market $120,000 Active 68 DOM
4. 2026-06-16
   days on market $120,000 Active 67 DOM
5. 2026-06-15
   days on market $120,000 Active 66 DOM
6. 2026-06-13
   days on market $120,000 Active 64 DOM
7. 2026-06-12
   days on market $120,000 Active 63 DOM
8. 2026-06-09
   days on market $120,000 Active 60 DOM
9. 2026-06-08
   days on market $120,000 Active 59 DOM
10. 2026-06-07
    days on market $120,000 Active 58 DOM
11. 2026-06-05
    pricedays on market $120,000 Active 56 DOM
12. 2026-06-04
    days on market $130,000 Active 54 DOM
13. 2026-06-02
    days on market $130,000 Active 53 DOM
14. 2026-06-01
    days on market $130,000 Active 52 DOM
15. 2026-05-31
    days on market $130,000 Active 51 DOM
16. 2026-05-31
    days on market $130,000 Active 50 DOM
17. 2026-05-05
    price $130,000 1454-char remark

    Show marketing remark (1454 chars)

    Check out this affordable 1500 square foot, 4-bedroom home in one of Copper Country’s most desirable communities! Located in the heart of Lake Linden, this well-maintained 4 bed, 1.5 bath home offers a great opportunity for buyers looking for space, value, and a convenient location! Situated in a quiet, family-friendly neighborhood, the property blends the ease of in-town living with a peaceful residential setting. Inside, you’ll find a bright and spacious layout featuring a comfortable living area, functional kitchen, and dining space perfect for everyday meals or gathering with friends and family. The upper level includes generously sized bedrooms and a full bath, providing plenty of room for everyone and flexibility for a home office, guests, or hobbies. Recent updates include a new roof and siding in 2018, a new water heater in 2021, and a furnace replacement in 2011. The home also features a deep backyard ideal for outdoor activities or gardening, along with a full basement offering excellent storage and potential for future use. A 1.5-car garage provides convenient parking and additional storage space. Located within walking distance to Lake Linden schools, parks, and local amenities, this property offers both comfort and convenience. Whether you're looking for your first home, more room to spread out, or a smart long-term purchase, this is a great opportunity to own a spacious home at an affordable price point.

18. 2026-05-05
    price $130,000 1454-char remark

    Show marketing remark (1454 chars)

    Check out this affordable 1500 square foot, 4-bedroom home in one of Copper Country’s most desirable communities! Located in the heart of Lake Linden, this well-maintained 4 bed, 1.5 bath home offers a great opportunity for buyers looking for space, value, and a convenient location! Situated in a quiet, family-friendly neighborhood, the property blends the ease of in-town living with a peaceful residential setting. Inside, you’ll find a bright and spacious layout featuring a comfortable living area, functional kitchen, and dining space perfect for everyday meals or gathering with friends and family. The upper level includes generously sized bedrooms and a full bath, providing plenty of room for everyone and flexibility for a home office, guests, or hobbies. Recent updates include a new roof and siding in 2018, a new water heater in 2021, and a furnace replacement in 2011. The home also features a deep backyard ideal for outdoor activities or gardening, along with a full basement offering excellent storage and potential for future use. A 1.5-car garage provides convenient parking and additional storage space. Located within walking distance to Lake Linden schools, parks, and local amenities, this property offers both comfort and convenience. Whether you're looking for your first home, more room to spread out, or a smart long-term purchase, this is a great opportunity to own a spacious home at an affordable price point.

19. 2026-04-10
    listed $140,000 Active 1454-char remark

    Show marketing remark (1454 chars)

    Check out this affordable 1500 square foot, 4-bedroom home in one of Copper Country’s most desirable communities! Located in the heart of Lake Linden, this well-maintained 4 bed, 1.5 bath home offers a great opportunity for buyers looking for space, value, and a convenient location! Situated in a quiet, family-friendly neighborhood, the property blends the ease of in-town living with a peaceful residential setting. Inside, you’ll find a bright and spacious layout featuring a comfortable living area, functional kitchen, and dining space perfect for everyday meals or gathering with friends and family. The upper level includes generously sized bedrooms and a full bath, providing plenty of room for everyone and flexibility for a home office, guests, or hobbies. Recent updates include a new roof and siding in 2018, a new water heater in 2021, and a furnace replacement in 2011. The home also features a deep backyard ideal for outdoor activities or gardening, along with a full basement offering excellent storage and potential for future use. A 1.5-car garage provides convenient parking and additional storage space. Located within walking distance to Lake Linden schools, parks, and local amenities, this property offers both comfort and convenience. Whether you're looking for your first home, more room to spread out, or a smart long-term purchase, this is a great opportunity to own a spacious home at an affordable price point.

20. 2026-04-10
    listed $140,000 Active 1454-char remark

    Show marketing remark (1454 chars)

    Check out this affordable 1500 square foot, 4-bedroom home in one of Copper Country’s most desirable communities! Located in the heart of Lake Linden, this well-maintained 4 bed, 1.5 bath home offers a great opportunity for buyers looking for space, value, and a convenient location! Situated in a quiet, family-friendly neighborhood, the property blends the ease of in-town living with a peaceful residential setting. Inside, you’ll find a bright and spacious layout featuring a comfortable living area, functional kitchen, and dining space perfect for everyday meals or gathering with friends and family. The upper level includes generously sized bedrooms and a full bath, providing plenty of room for everyone and flexibility for a home office, guests, or hobbies. Recent updates include a new roof and siding in 2018, a new water heater in 2021, and a furnace replacement in 2011. The home also features a deep backyard ideal for outdoor activities or gardening, along with a full basement offering excellent storage and potential for future use. A 1.5-car garage provides convenient parking and additional storage space. Located within walking distance to Lake Linden schools, parks, and local amenities, this property offers both comfort and convenience. Whether you're looking for your first home, more room to spread out, or a smart long-term purchase, this is a great opportunity to own a spacious home at an affordable price point.

21. 2025-12-01
    historical
22. 2025-06-03
    price $160,000
23. 2025-06-02
    price $160,000
24. 2025-05-22
    listed $175,000 Active
25. 2011-08-10
    soldstatus $20,000

ⓘ 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: $665 · $55/mo
• Projected year-2 tax: $1,257 · $105/mo
• Expected delta: +$591/yr (+$49/mo · 88.9%)

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

Taxation est. · year 1

• Rental income: $16,131
• − Mortgage interest: −$6,722
• − Property taxes: −$665
• − Insurance: −$600
• − Repairs & maintenance: −$1,291
• − Management: −$1,291
• − Depreciation: −$3,491
• Taxable income: $2,072
• Est. tax owed @ 24.0%: −$497
• After-tax cash flow: $3,430/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: Lake Linden-Hubbell School District
• NCES district ID: 2620700
• Math proficiency: 38% ▲ 6.00%
• Reading proficiency: 54% ▲ 8.00%
• Median HH income: $40,656
• Composite: 40.73/100
• National rank: #7590
• State rank: #262 of 760 in MI

Livability — Lake Linden

• Score: 72/100
• State rank: #249
• US rank: #6178

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,704

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 (98%)
• Race & ethnicity: White 98% Hispanic / Latino 1%
• Common ancestry: Lithuanian 13% Romanian 2% Portuguese 2%
• Foreign-born: 2% · Canada, Jamaica
• Languages at home: 97% English-only · Spanish 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: ▲ 7.43%
• Current HPI: 184.2399
• 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

+550.0% since first listed

9 events — show timeline

• 2026-05-05 Price Changed $130,000 MiRealSource-MiMLS
• 2026-05-05 Price Changed $130,000 UPAR
• 2026-04-10 Listed $140,000 UPAR
• 2026-04-10 Listed $140,000 MiRealSource-MiMLS
• 2025-12-01 Listing Removed — MiRealSource-MiMLS
• 2025-06-03 Price Changed $160,000 MiRealSource-MiMLS
• 2025-06-02 Price Changed $160,000 UPAR
• 2025-05-22 Listed $175,000 MiRealSource-MiMLS
• 2011-08-10 Sold (Public Records) $20,000 Public Records

Property tax history

-2.9%/yr

Latest (2025): $665 · -63.4% YoY. Source: county tax records.