138 E Main St · Sebewaing, MI 48759

$169,900

5 bd · 2.0 ba · 1,701 sqft · SingleFamily public records · 25 Days on market

Built 1900 6,098 sqft lot Est $170k · at est.

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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 +14.8/30.0
• ARV discount +7.6/15.0
• DSCR +4.5/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOVE-IN READY! OVER $19,000 IN RECENT UPGRADES — DON'T MISS THIS ONE! 138 E. Main St. , Sebewaing is calling your name. This charming 2-story Victorian Traditional sits on a corner lot and delivers over 1,700 sq ft of timeless character with modern peace of mind — the perfect blend of old-soul charm and fresh updates. The main floor wows with two bedrooms, a full bath, large kitchen (14'x12'), expansive dining area (14'x17'), cozy living room (14'x14'), and a sun-drenched sunroom (21'x8'). Head upstairs to find additional bedrooms and a showstopping remodeled bathroom complete with a classic clawfoot tub. This home has soul. Upgrades include new electrical panel, updated plumbing, kitchen countertops, Andersen windows, new upstairs trim, fresh paint/drywall, and a Trane furnace for year-round comfort. Outside: corner lot, detached garage, and a long private alley entrance. One block from the bay and new dock — walkable to shopping and services. Perfect for a growing family OR a savvy Airbnb/VRBO investor. Homes with this much character at this price don't last — schedule your showing today!

Key facts

• Walkable to shopping
• Remodeled bathroom
• Clawfoot tub

Tags

• CORNER LOT
• REMODELED BATHROOM
• CLAWFOOT TUB
• DETACHED GARAGE
• PRIVATE ALLEY ENTRANCE
• WALKABLE TO SHOPPING

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels
• Construction: Vinyl siding
• Exterior features: Lot in WILLAIM T CHAPPELLS 1ST ADD subdivision; Located near 4th Street and 3rd Street

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: 8 total rooms; Basement present

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $47 ($559/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $135k (20.5% below list).
• Recommended offer: $135k (20.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 73/100 on livability (#205 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Unionville-Sebewaing Area S.D. (rural): math 34% / reading 46% proficiency, ranked #212 of 540 in MI (top 39%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Unionvillesebewaing Elem School (math 42% / reading 42%, grade F, #547 of 1,397 statewide, top 41%, 298 students, 54% FRL); Unionvillesebewaing Middle School (math 27% / reading 42%, grade F, #289 of 493 statewide, top 60%, 142 students, 44% FRL); Unionvillesebewaing High School (math 24% / reading 54%, grade F, #304 of 713 statewide, top 46%, 238 students, 38% FRL).
• Market conditions: 7 active listings in the ZIP; 67 units permitted in Huron 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.
• Huron County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 2 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 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,006 (20.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.79% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.18%
• DSCR: 1.05
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $170,100
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
253 E Sebewaing St	0.22mi	5/2.0	1,556 (-8%)	3mo	$145,000	$93	73
566 N Center St	0.42mi	5/1.0	1,680 (-1%)	6mo	$120,000	$71	70
87 Anton St	0.55mi	4/1.5 (-1)	1,700 (-0%)	23mo	$170,000	$100	48
586 E Sebewaing St	0.34mi	4/1.5 (-1)	1,500 (-12%)	16mo	$155,500	$104	45

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-24,638
• Equity at exit: $25,333

10-year hold

• IRR: -5.8%
• Equity multiple: 0.62×
• Total profit: $-17,935
• Equity at exit: $14,690

Cash invested: $47,572 (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 48759

• Home prices YoY: -7.7%
• Active inventory: 7
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,350 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$58 /mo · $698/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $47

Break-even live

Break-even rent $1,291

Max offer price $169,900

Occupancy floor 92%

Sensitivity live

Price	-10% $143	-5% $95	+0% $47	+5% $-1	+10% $-50
Rent	-10% $-60	-5% $-7	+0% $47	+5% $100	+10% $153
Rate	-1.0pp $132	-0.5pp $90	base $47	+0.5pp $3	+1.0pp $-42

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-05
   status Pending

   Show marketing remark (1131 chars)

   MOVE-IN READY! OVER $19,000 IN RECENT UPGRADES — DON'T MISS THIS ONE! 138 E. Main St. , Sebewaing is calling your name. This charming 2-story Victorian Traditional sits on a corner lot and delivers over 1,700 sq ft of timeless character with modern peace of mind — the perfect blend of old-soul charm and fresh updates. The main floor wows with two bedrooms, a full bath, large kitchen (14'x12'), expansive dining area (14'x17'), cozy living room (14'x14'), and a sun-drenched sunroom (21'x8'). Head upstairs to find additional bedrooms and a showstopping remodeled bathroom complete with a classic clawfoot tub. This home has soul. Upgrades include new electrical panel, updated plumbing, kitchen countertops, Andersen windows, new upstairs trim, fresh paint/drywall, and a Trane furnace for year-round comfort. Outside: corner lot, detached garage, and a long private alley entrance. One block from the bay and new dock — walkable to shopping and services. Perfect for a growing family OR a savvy Airbnb/VRBO investor. Homes with this much character at this price don't last — schedule your showing today!

2. 2026-05-05
   status Pending 1131-char remark

   Show marketing remark (1131 chars)

   MOVE-IN READY! OVER $19,000 IN RECENT UPGRADES — DON'T MISS THIS ONE! 138 E. Main St. , Sebewaing is calling your name. This charming 2-story Victorian Traditional sits on a corner lot and delivers over 1,700 sq ft of timeless character with modern peace of mind — the perfect blend of old-soul charm and fresh updates. The main floor wows with two bedrooms, a full bath, large kitchen (14'x12'), expansive dining area (14'x17'), cozy living room (14'x14'), and a sun-drenched sunroom (21'x8'). Head upstairs to find additional bedrooms and a showstopping remodeled bathroom complete with a classic clawfoot tub. This home has soul. Upgrades include new electrical panel, updated plumbing, kitchen countertops, Andersen windows, new upstairs trim, fresh paint/drywall, and a Trane furnace for year-round comfort. Outside: corner lot, detached garage, and a long private alley entrance. One block from the bay and new dock — walkable to shopping and services. Perfect for a growing family OR a savvy Airbnb/VRBO investor. Homes with this much character at this price don't last — schedule your showing today!

3. 2026-04-10
   listed $169,900 Active

   Show marketing remark (1131 chars)

   MOVE-IN READY! OVER $19,000 IN RECENT UPGRADES — DON'T MISS THIS ONE! 138 E. Main St. , Sebewaing is calling your name. This charming 2-story Victorian Traditional sits on a corner lot and delivers over 1,700 sq ft of timeless character with modern peace of mind — the perfect blend of old-soul charm and fresh updates. The main floor wows with two bedrooms, a full bath, large kitchen (14'x12'), expansive dining area (14'x17'), cozy living room (14'x14'), and a sun-drenched sunroom (21'x8'). Head upstairs to find additional bedrooms and a showstopping remodeled bathroom complete with a classic clawfoot tub. This home has soul. Upgrades include new electrical panel, updated plumbing, kitchen countertops, Andersen windows, new upstairs trim, fresh paint/drywall, and a Trane furnace for year-round comfort. Outside: corner lot, detached garage, and a long private alley entrance. One block from the bay and new dock — walkable to shopping and services. Perfect for a growing family OR a savvy Airbnb/VRBO investor. Homes with this much character at this price don't last — schedule your showing today!

4. 2026-04-10
   listed $169,900 Active 1131-char remark

   Show marketing remark (1131 chars)

   MOVE-IN READY! OVER $19,000 IN RECENT UPGRADES — DON'T MISS THIS ONE! 138 E. Main St. , Sebewaing is calling your name. This charming 2-story Victorian Traditional sits on a corner lot and delivers over 1,700 sq ft of timeless character with modern peace of mind — the perfect blend of old-soul charm and fresh updates. The main floor wows with two bedrooms, a full bath, large kitchen (14'x12'), expansive dining area (14'x17'), cozy living room (14'x14'), and a sun-drenched sunroom (21'x8'). Head upstairs to find additional bedrooms and a showstopping remodeled bathroom complete with a classic clawfoot tub. This home has soul. Upgrades include new electrical panel, updated plumbing, kitchen countertops, Andersen windows, new upstairs trim, fresh paint/drywall, and a Trane furnace for year-round comfort. Outside: corner lot, detached garage, and a long private alley entrance. One block from the bay and new dock — walkable to shopping and services. Perfect for a growing family OR a savvy Airbnb/VRBO investor. Homes with this much character at this price don't last — schedule your showing today!

ⓘ 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: $698 · $58/mo
• Projected year-2 tax: $1,657 · $138/mo
• Expected delta: +$959/yr (+$80/mo · 137.4%)

ⓘ 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 ≥97°F today · 14 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: $16,201
• − Mortgage interest: −$9,517
• − Property taxes: −$698
• − Insurance: −$850
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$4,943
• Taxable loss: −$2,399
• Est. tax savings @ 24.0%: +$576
• After-tax cash flow: $1,135/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: Unionville-Sebewaing Area S.D.
• NCES district ID: 2634440
• Math proficiency: 34% ▼ -7.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $46,715
• Composite: 34.14/100
• National rank: #5280
• State rank: #212 of 540 in MI

Livability — Sebewaing

• Score: 73/100
• State rank: #205
• US rank: #5193

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

• Census place: Sebewaing, MI
• Population (ZIP): 3,439

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 (95%)
• Race & ethnicity: White 95% Two or more races 3% Hispanic / Latino 3%
• Common ancestry: Romanian 7% Lithuanian 3% Scotch-Irish 3%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 2%

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: ▼ -26.92%
• Current HPI: 321.0491
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-05 Pending — REALCOMP
• 2026-05-05 Pending — MiRealSource-MiMLS
• 2026-04-10 Listed $169,900 REALCOMP
• 2026-04-10 Listed $169,900 MiRealSource-MiMLS

Property tax history

-2.5%/yr

Latest (2025): $698 · -45.3% YoY. Source: county tax records.