47563 Bootjack Rd · Hubbell, MI 49945

$79,900

5 bd · 3.0 ba · 1,385 sqft · SingleFamily public records · 8 Days on market

Built 1892 1.00 ac lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.7/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Vintage cottage with views of Portage Lake! OFFERS TO BE RECEIVED BY JUNE 4TH AT 12:00 PM, SELLER TO REVIEW/ RESPOND AFTER THAT TIME. Located on Bootjack Road, this classic cottage features charming curb appeal and has been admired by many for years. The surveyed property is 1 acre in size and has a beautiful yard highlighted by views of Portage Lake. The 3 BR 2 BA cottage features hard maple flooring on both levels along with a wood burning fireplace. Tongue and groove pine and a large three season enclosed porch add to the charm. Electricity is still connected and active. Existence and/or condition of well, septic, heating and pluming are unknown and sale to be 'as-is'. Great opportunity for someone to fix up, tear down and build new, or keep as rental/guest cottage, etc. Great location with this desirable property in the Keweenaw!

Key facts

• Hard maple flooring
• Beautiful yard
• 1 acre lot

Tags

• VIEWS OF PORTAGE LAKE
• HARD MAPLE FLOORING
• WOOD BURNING FIREPLACE
• TONGUE AND GROOVE PINE
• THREE SEASON ENCLOSED PORCH
• BEAUTIFUL YARD

Property features AI

Exterior

• Parking: No specific parking details provided
• Security: No security features specified
• Utilities: Cable available; Electricity connected; Phone available; Water: none specified; Sewer/Septic: other (see remarks); Water heater: none specified
• Home design: Residential property; 1½-story structure; Built in 19 (year partially specified)
• Construction: Cedar exterior; Michigan basement foundation; Basement: stone
• Exterior features: Lake view (Portage Lake); Road frontage; Rural setting

Interior

• Kitchen: Main level kitchen (19 x 13); Microwave; Range/Oven; Refrigerator
• Bedrooms: Main floor bedroom (13 x 9) with wood flooring; Second floor bedroom (20 x 12) with wood flooring; Second floor bedroom (approx. 9 ft wide) with wood flooring
• Flooring: Wood flooring throughout primary living areas and bedrooms
• Bathrooms: Two full bathrooms (one on main level, one on second level)
• Heating & cooling: No central heating system specified; No cooling system specified
• Interior features: Cable/Internet available; Window treatments; Living room wood-burning fireplace (1 total)
• Laundry & utility: Basement present (stone foundation)

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).

Location & tenants

• Location reads 63/100 on livability (#527 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, health & safety C-, schools D-.
• 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 $6k of equity ($552 loan paydown + $6k 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 $22k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 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: property tax is 2.7% of price; built in 1892 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1892 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.71% ✓
• Cap rate: 13.04%
• Cash-on-cash: 24.10%
• DSCR: 2.07
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $567,850
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27469 E Grosse Pointe Rd	0.51mi	4/3.0 (-1)	1,451 (+5%)	22mo	$595,000	$410	45
27469 E Grosse Pointe Shores Rd	0.57mi	4/3.0 (-1)	1,451 (+5%)	22mo	$595,000	$410	42

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: 38.2%
• Equity multiple: 3.63×
• Total profit: $58,746
• Equity at exit: $57,660

10-year hold

• IRR: 34.4%
• Equity multiple: 7.67×
• Total profit: $149,318
• Equity at exit: $111,670

Cash invested: $22,372 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,366 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$178 /mo · $2,132/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $449

Break-even live

Break-even rent $797

Max offer price $79,900

Occupancy floor 62%

Sensitivity live

Price	-10% $495	-5% $472	+0% $449	+5% $427	+10% $404
Rent	-10% $341	-5% $395	+0% $449	+5% $503	+10% $557
Rate	-1.0pp $490	-0.5pp $470	base $449	+0.5pp $429	+1.0pp $408

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-07
   status $79,900 Pending 8 DOM
2. 2026-06-05
   days on market $79,900 Active 8 DOM
3. 2026-06-04
   days on market $79,900 Active 6 DOM
4. 2026-06-02
   days on market $79,900 Active 5 DOM
5. 2026-06-01
   days on market $79,900 Active 4 DOM
6. 2026-05-31
   days on market $79,900 Active 3 DOM
7. 2026-05-31
   days on market $79,900 Active 2 DOM
8. 2026-05-28
   listed $79,900 Active 845-char remark

   Show marketing remark (845 chars)

   Vintage cottage with views of Portage Lake! OFFERS TO BE RECEIVED BY JUNE 4TH AT 12:00 PM, SELLER TO REVIEW/ RESPOND AFTER THAT TIME. Located on Bootjack Road, this classic cottage features charming curb appeal and has been admired by many for years. The surveyed property is 1 acre in size and has a beautiful yard highlighted by views of Portage Lake. The 3 BR 2 BA cottage features hard maple flooring on both levels along with a wood burning fireplace. Tongue and groove pine and a large three season enclosed porch add to the charm. Electricity is still connected and active. Existence and/or condition of well, septic, heating and pluming are unknown and sale to be 'as-is'. Great opportunity for someone to fix up, tear down and build new, or keep as rental/guest cottage, etc. Great location with this desirable property in the Keweenaw!

9. 2026-05-28
   listed $79,900 Active 845-char remark

   Show marketing remark (845 chars)

   Vintage cottage with views of Portage Lake! OFFERS TO BE RECEIVED BY JUNE 4TH AT 12:00 PM, SELLER TO REVIEW/ RESPOND AFTER THAT TIME. Located on Bootjack Road, this classic cottage features charming curb appeal and has been admired by many for years. The surveyed property is 1 acre in size and has a beautiful yard highlighted by views of Portage Lake. The 3 BR 2 BA cottage features hard maple flooring on both levels along with a wood burning fireplace. Tongue and groove pine and a large three season enclosed porch add to the charm. Electricity is still connected and active. Existence and/or condition of well, septic, heating and pluming are unknown and sale to be 'as-is'. Great opportunity for someone to fix up, tear down and build new, or keep as rental/guest cottage, etc. Great location with this desirable property in the Keweenaw!

10. 2018-08-15
    soldstatus $300,000

ⓘ 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: $2,132 · $178/mo
• Projected year-2 tax: $2,132 · $178/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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥88°F today · 13 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: $16,395
• − Mortgage interest: −$4,476
• − Property taxes: −$2,132
• − Insurance: −$400
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − Depreciation: −$2,324
• Taxable income: $4,441
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $4,327/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 — Hubbell

• Score: 63/100
• State rank: #527
• US rank: #15866

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 949
• 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

-73.4% since first listed

3 events — show timeline

• 2026-05-28 Listed $79,900 UPAR
• 2026-05-28 Listed $79,900 MiRealSource-MiMLS
• 2018-08-15 Sold (Public Records) $300,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,132 · +5.4% YoY. Source: county tax records.