47604 1st St · Houghton, MI 49931

$139,900

3 bd · 1.5 ba · 702 sqft · SingleFamily public records · 5 Days on market

6,534 sqft lot

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Why this score? — see what drove the C- 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 +20.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Schools +5.5/10.0
• 1% rule +5.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

DEADLINE FOR OFFERS TO BE TUESDAY, MAY 12TH AT NOON. Affordable, move-in ready home in Houghton! Conveniently located within walking distance to Houghton-Portage Township Schools and just minutes from Michigan Technological University, this property is an excellent starter home or a great option for your Michigan Tech student. Features include vinyl siding, a newer roof, new vinyl flooring, and a walk-in tile shower. All appliances are included for an easy move-in experience. Enjoy relaxing in the spacious tongue-and-groove covered front porch or entertaining in the backyard featuring a deck and fire pit area. Benefit from lower Portage Township taxes while owning a well-maintained home in a fantastic location close to schools, shopping, dining, and recreation!

Key facts

• Covered front porch
• Vinyl flooring
• Newer roof

Tags

• NEWER ROOF
• VINYL FLOORING
• WALK-IN TILE SHOWER
• COVERED FRONT PORCH
• BACKYARD DECK
• FIRE PIT AREA

Property features AI

Exterior

• Parking: 3 or more parking spaces
• Utilities: Public water; Public sanitary sewer; Electricity connected; Natural gas connected; Gas water heater; Phone available; Cable available; Internet (Spectrum)
• Home design: Residential property; 1 1/2-story structure; Entry levels on main and second (living and kitchen on main; bedrooms and bathroom on second)
• Construction: Vinyl siding; Michigan-style basement foundation; Year built listed as 19 (partial data)
• Exterior features: Deck; Porch; Walk-to-school location; Frontage on a road

Interior

• Kitchen: Vinyl flooring; Kitchen approximately 13 x 12; Appliances included: Dishwasher, Range/Oven, Microwave, Refrigerator
• Bedrooms: Three bedrooms located on the second level (approx. dimensions: two at 12 x 8, one about 9' wide); bedrooms have vinyl flooring
• Flooring: Vinyl flooring throughout main living areas and bedrooms
• Bathrooms: One full bathroom (main floor full bathroom listed; total baths: 1)
• Heating & cooling: Forced air heating; No cooling system listed
• Interior features: Cable/internet available; Sump pump; Skylights
• Laundry & utility: Washer and Dryer included; Basement with outside entrance and sump pump

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).

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 $967 of loan paydown is wiped out by about $4k 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 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 5y 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 $111k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $139,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.02% ✓
• Cap rate: 7.92%
• Cash-on-cash: 5.81%
• DSCR: 1.26
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-10,598
• Equity at exit: $20,860

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $6,322
• Equity at exit: $12,096

Cash invested: $39,172 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,424 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$143 /mo · $1,722/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $190

Break-even live

Break-even rent $1,184

Max offer price $139,900

Occupancy floor 82%

Sensitivity live

Price	-10% $269	-5% $229	+0% $190	+5% $150	+10% $110
Rent	-10% $77	-5% $133	+0% $190	+5% $246	+10% $302
Rate	-1.0pp $260	-0.5pp $225	base $190	+0.5pp $153	+1.0pp $116

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-12
   status Pending 771-char remark

   Show marketing remark (771 chars)

   DEADLINE FOR OFFERS TO BE TUESDAY, MAY 12TH AT NOON. Affordable, move-in ready home in Houghton! Conveniently located within walking distance to Houghton-Portage Township Schools and just minutes from Michigan Technological University, this property is an excellent starter home or a great option for your Michigan Tech student. Features include vinyl siding, a newer roof, new vinyl flooring, and a walk-in tile shower. All appliances are included for an easy move-in experience. Enjoy relaxing in the spacious tongue-and-groove covered front porch or entertaining in the backyard featuring a deck and fire pit area. Benefit from lower Portage Township taxes while owning a well-maintained home in a fantastic location close to schools, shopping, dining, and recreation!

2. 2026-05-12
   status Pending 771-char remark

   Show marketing remark (771 chars)

   DEADLINE FOR OFFERS TO BE TUESDAY, MAY 12TH AT NOON. Affordable, move-in ready home in Houghton! Conveniently located within walking distance to Houghton-Portage Township Schools and just minutes from Michigan Technological University, this property is an excellent starter home or a great option for your Michigan Tech student. Features include vinyl siding, a newer roof, new vinyl flooring, and a walk-in tile shower. All appliances are included for an easy move-in experience. Enjoy relaxing in the spacious tongue-and-groove covered front porch or entertaining in the backyard featuring a deck and fire pit area. Benefit from lower Portage Township taxes while owning a well-maintained home in a fantastic location close to schools, shopping, dining, and recreation!

3. 2026-05-07
   listed $139,900 Active 771-char remark

   Show marketing remark (771 chars)

   DEADLINE FOR OFFERS TO BE TUESDAY, MAY 12TH AT NOON. Affordable, move-in ready home in Houghton! Conveniently located within walking distance to Houghton-Portage Township Schools and just minutes from Michigan Technological University, this property is an excellent starter home or a great option for your Michigan Tech student. Features include vinyl siding, a newer roof, new vinyl flooring, and a walk-in tile shower. All appliances are included for an easy move-in experience. Enjoy relaxing in the spacious tongue-and-groove covered front porch or entertaining in the backyard featuring a deck and fire pit area. Benefit from lower Portage Township taxes while owning a well-maintained home in a fantastic location close to schools, shopping, dining, and recreation!

4. 2026-05-07
   listed $139,900 Active 771-char remark

   Show marketing remark (771 chars)

   DEADLINE FOR OFFERS TO BE TUESDAY, MAY 12TH AT NOON. Affordable, move-in ready home in Houghton! Conveniently located within walking distance to Houghton-Portage Township Schools and just minutes from Michigan Technological University, this property is an excellent starter home or a great option for your Michigan Tech student. Features include vinyl siding, a newer roof, new vinyl flooring, and a walk-in tile shower. All appliances are included for an easy move-in experience. Enjoy relaxing in the spacious tongue-and-groove covered front porch or entertaining in the backyard featuring a deck and fire pit area. Benefit from lower Portage Township taxes while owning a well-maintained home in a fantastic location close to schools, shopping, dining, and recreation!

5. 2022-04-05
   soldstatus $111,100 747-char remark

   Show marketing remark (747 chars)

   Three bedroom, one and a half bath home located in Portage Township. Close to the High School and only minutes from downtown, shopping, ski trails and more. Spacious kitchen with hardwood floors leads to the living area. Off of the living room is the insulated porch which could be used as a 4th bedroom. Upstairs you find two bedrooms as well as a half bath. Vinyl siding is in great shape and a new roof was installed this summer, as well as new steps on the front and back of the home. Furnace has new heat exchanger installed in 2017. Full brightly lit basement has plenty of room for storage as well as access from the back yard. Seller is only interested in owner financing at this time. Full price offer, 25% or more down, 4.5%, 15 yr term.

6. 2022-04-05
   soldstatus $111,100 747-char remark

   Show marketing remark (747 chars)

   Three bedroom, one and a half bath home located in Portage Township. Close to the High School and only minutes from downtown, shopping, ski trails and more. Spacious kitchen with hardwood floors leads to the living area. Off of the living room is the insulated porch which could be used as a 4th bedroom. Upstairs you find two bedrooms as well as a half bath. Vinyl siding is in great shape and a new roof was installed this summer, as well as new steps on the front and back of the home. Furnace has new heat exchanger installed in 2017. Full brightly lit basement has plenty of room for storage as well as access from the back yard. Seller is only interested in owner financing at this time. Full price offer, 25% or more down, 4.5%, 15 yr term.

7. 2021-11-10
   listed $111,100 747-char remark

   Show marketing remark (747 chars)

   Three bedroom, one and a half bath home located in Portage Township. Close to the High School and only minutes from downtown, shopping, ski trails and more. Spacious kitchen with hardwood floors leads to the living area. Off of the living room is the insulated porch which could be used as a 4th bedroom. Upstairs you find two bedrooms as well as a half bath. Vinyl siding is in great shape and a new roof was installed this summer, as well as new steps on the front and back of the home. Furnace has new heat exchanger installed in 2017. Full brightly lit basement has plenty of room for storage as well as access from the back yard. Seller is only interested in owner financing at this time. Full price offer, 25% or more down, 4.5%, 15 yr term.

8. 2021-11-10
   listed $111,100 747-char remark

   Show marketing remark (747 chars)

   Three bedroom, one and a half bath home located in Portage Township. Close to the High School and only minutes from downtown, shopping, ski trails and more. Spacious kitchen with hardwood floors leads to the living area. Off of the living room is the insulated porch which could be used as a 4th bedroom. Upstairs you find two bedrooms as well as a half bath. Vinyl siding is in great shape and a new roof was installed this summer, as well as new steps on the front and back of the home. Furnace has new heat exchanger installed in 2017. Full brightly lit basement has plenty of room for storage as well as access from the back yard. Seller is only interested in owner financing at this time. Full price offer, 25% or more down, 4.5%, 15 yr term.

9. 1996-12-01
   soldstatus $15,500

ⓘ 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: $1,722 · $143/mo
• Projected year-2 tax: $1,938 · $162/mo
• Expected delta: +$216/yr (+$18/mo · 12.6%)

ⓘ 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 2/10 Low
• 🌡 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: $17,088
• − Mortgage interest: −$7,837
• − Property taxes: −$1,722
• − Insurance: −$700
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$4,070
• Taxable income: $26
• Est. tax owed @ 24.0%: −$6
• After-tax cash flow: $2,268/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

+802.6% since first listed

9 events — show timeline

• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-12 Pending — UPAR
• 2026-05-07 Listed $139,900 UPAR
• 2026-05-07 Listed $139,900 MiRealSource-MiMLS
• 2022-04-05 Sold (MLS) $111,100 MiRealSource-MiMLS
• 2022-04-05 Sold (MLS) $111,100 UPAR
• 2021-11-10 Listed $111,100 MiRealSource-MiMLS
• 2021-11-10 Listed $111,100 UPAR
• 1996-12-01 Sold (Public Records) $15,500 Public Records

Property tax history

+13.8%/yr

Latest (2025): $1,722 · +4.5% YoY. Source: county tax records.