5767 Main St · Lexington, MI 48450

$39,900

2 bd · 1.0 ba · 450 sqft · SingleFamily · 235 Days on market

Built 1973 3,000 sqft 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
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lakeside 2BR/1BA Furnished Trailer Home almost fully furnished 176 Sq Ft Florida Room, has a great yard with shed and lawn tools, Card table in sun-room does not stay. Just a few Steps to Lake Huron. Drive to Lexington and Escape to your lakeside retreat on the beautiful shores of Lake Huron. This move-in-ready 2-bedroom, 1-bath trailer home comes fully furnished and ready to enjoy just bring your personal touches and start living the lakeside lifestyle immediately. Key features:-2 bedrooms, have newer Purple Brand Full size mattresses 1 bath-Fully furnished, turnkey-176 sq ft Florida room for morning coffee, reading, or entertaining-Outdoor cooking and entertaining area- Thoughtful, space-maximizing layout for comfort and practicality-Just a very short walk from the private park beach easy access to sandy shores and sparkling waters! Location and lifestyle:-Private park community Lot rent including water and sewer $623.00 with easy access to lake activities, sunsets, and relaxed lakefront living- Perfect for weekend getaways, seasonal living, or full-time residence Price and inclusions:-Price includes furnishings for a hassle-free move-in.

Key facts

• Outdoor cooking area
• Florida room
• Fully furnished

Tags

• FULLY FURNISHED
• FLORIDA ROOM
• OUTDOOR COOKING AREA
• PRIVATE PARK COMMUNITY
• EASY ACCESS TO LAKE ACTIVITIES

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level; Ground-level entry
• Construction: Aluminum siding; Metal siding; Pillar/post/pier foundation; Asphalt roof
• Exterior features: Covered, enclosed patio/porch; Patio; Porch; Shed(s); Beach access; Lot on a cul-de-sac; Level lot; Private maintained road; Private road frontage

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator; Range hood; Electric water heater
• Bedrooms: Total of 5 rooms (bedrooms and living areas combined)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Furnished; Range hood
• Laundry & utility: Washer hookup; Electric dryer hookup; Other laundry hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $354 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($797 rent vs $40k).
• Recommended offer: $35k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.9% vs local median 2.1% in Lexington — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#494 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: employment D, amenities F, commute F.
• Croswell-Lexington Community Schools (rural): math 30% / reading 47% proficiency, ranked #239 of 540 in MI (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 118 active listings in the ZIP; 63 units permitted in Sanilac County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $276 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Sanilac County population projected at -31% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 235 days — a 12% lower offer ($35k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 18y ago; this cycle's ask has dropped $5k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $35,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 235 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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. 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?
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: 2.00% ✓
• Cap rate: 16.93%
• Cash-on-cash: 37.99%
• DSCR: 2.69
• GRM: 4.2

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: 34.0%
• Equity multiple: 2.44×
• Total profit: $16,074
• Equity at exit: $5,949

10-year hold

• IRR: 40.9%
• Equity multiple: 4.85×
• Total profit: $43,053
• Equity at exit: $3,450

Cash invested: $11,172 (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 48450

• Home prices YoY: -19.8%
• Active inventory: 118
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $797 medium
• Mortgage (P&I): −$209
• Tax est. 1.5%: −$50 /mo · $598/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$167
• Net cashflow: $354

Break-even live

Break-even rent $349

Max offer price $39,900

Occupancy floor 51%

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: $9,975
• Closing costs: $1,197
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $39,900 Active 235 DOM
2. 2026-06-17
   days on market $39,900 Active 234 DOM
3. 2026-06-16
   days on market $39,900 Active 233 DOM
4. 2026-06-15
   days on market $39,900 Active 232 DOM
5. 2026-06-13
   days on market $39,900 Active 230 DOM
6. 2026-06-13
   days on market $39,900 Active 229 DOM
7. 2026-06-09
   days on market $39,900 Active 226 DOM
8. 2026-06-08
   days on market $39,900 Active 225 DOM
9. 2026-06-07
   days on market $39,900 Active 224 DOM
10. 2026-06-04
    days on market $39,900 Active 221 DOM
11. 2026-06-03
    days on market $39,900 Active 220 DOM
12. 2026-06-02
    days on market $39,900 Active 219 DOM
13. 2026-06-01
    days on market $39,900 Active 218 DOM
14. 2026-05-31
    days on market $39,900 Active 217 DOM
15. 2026-04-26
    price $39,900 1158-char remark

    Show marketing remark (1158 chars)

    Lakeside 2BR/1BA Furnished Trailer Home almost fully furnished 176 Sq Ft Florida Room, has a great yard with shed and lawn tools, Card table in sun-room does not stay. Just a few Steps to Lake Huron. Drive to Lexington and Escape to your lakeside retreat on the beautiful shores of Lake Huron. This move-in-ready 2-bedroom, 1-bath trailer home comes fully furnished and ready to enjoy just bring your personal touches and start living the lakeside lifestyle immediately. Key features:-2 bedrooms, have newer Purple Brand Full size mattresses 1 bath-Fully furnished, turnkey-176 sq ft Florida room for morning coffee, reading, or entertaining-Outdoor cooking and entertaining area- Thoughtful, space-maximizing layout for comfort and practicality-Just a very short walk from the private park beach easy access to sandy shores and sparkling waters! Location and lifestyle:-Private park community Lot rent including water and sewer $623.00 with easy access to lake activities, sunsets, and relaxed lakefront living- Perfect for weekend getaways, seasonal living, or full-time residence Price and inclusions:-Price includes furnishings for a hassle-free move-in.

16. 2026-04-25
    price $39,900
17. 2025-10-24
    listed $44,900 Active 1158-char remark

    Show marketing remark (1158 chars)

    Lakeside 2BR/1BA Furnished Trailer Home almost fully furnished 176 Sq Ft Florida Room, has a great yard with shed and lawn tools, Card table in sun-room does not stay. Just a few Steps to Lake Huron. Drive to Lexington and Escape to your lakeside retreat on the beautiful shores of Lake Huron. This move-in-ready 2-bedroom, 1-bath trailer home comes fully furnished and ready to enjoy just bring your personal touches and start living the lakeside lifestyle immediately. Key features:-2 bedrooms, have newer Purple Brand Full size mattresses 1 bath-Fully furnished, turnkey-176 sq ft Florida room for morning coffee, reading, or entertaining-Outdoor cooking and entertaining area- Thoughtful, space-maximizing layout for comfort and practicality-Just a very short walk from the private park beach easy access to sandy shores and sparkling waters! Location and lifestyle:-Private park community Lot rent including water and sewer $623.00 with easy access to lake activities, sunsets, and relaxed lakefront living- Perfect for weekend getaways, seasonal living, or full-time residence Price and inclusions:-Price includes furnishings for a hassle-free move-in.

18. 2025-10-24
    listed $44,900 Active

    Show marketing remark (1158 chars)

    Lakeside 2BR/1BA Furnished Trailer Home almost fully furnished 176 Sq Ft Florida Room, has a great yard with shed and lawn tools, Card table in sun-room does not stay. Just a few Steps to Lake Huron. Drive to Lexington and Escape to your lakeside retreat on the beautiful shores of Lake Huron. This move-in-ready 2-bedroom, 1-bath trailer home comes fully furnished and ready to enjoy just bring your personal touches and start living the lakeside lifestyle immediately. Key features:-2 bedrooms, have newer Purple Brand Full size mattresses 1 bath-Fully furnished, turnkey-176 sq ft Florida room for morning coffee, reading, or entertaining-Outdoor cooking and entertaining area- Thoughtful, space-maximizing layout for comfort and practicality-Just a very short walk from the private park beach easy access to sandy shores and sparkling waters! Location and lifestyle:-Private park community Lot rent including water and sewer $623.00 with easy access to lake activities, sunsets, and relaxed lakefront living- Perfect for weekend getaways, seasonal living, or full-time residence Price and inclusions:-Price includes furnishings for a hassle-free move-in.

19. 2009-01-01
    historical
20. 2008-05-21
    listed $18,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $9,561
• − Mortgage interest: −$2,235
• − Property taxes: −$598
• − Insurance: −$200
• − Repairs & maintenance: −$765
• − Management: −$765
• − Depreciation: −$1,161
• Taxable income: $3,838
• Est. tax owed @ 24.0%: −$921
• After-tax cash flow: $3,323/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: Croswell-Lexington Community Schools
• NCES district ID: 2611140
• Math proficiency: 30% ▼ -7.00%
• Reading proficiency: 47% ▼ -6.00%
• Median HH income: $42,784
• Composite: 32.49/100
• National rank: #5707
• State rank: #239 of 540 in MI

Livability — Lexington

• Score: 64/100
• State rank: #494
• US rank: #14509

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lexington, MI
• Population (ZIP): 4,413

Population outlook (Sanilac County) Hauer SSP2

• Today (2025): 37,948 people
• By 2030: 35,772 · -5.7%
• By 2040: 30,996 · -18.3%
• By 2050: 26,280 · -30.7%
• By 2075: 17,471 · -54.0%
• By 2100: 10,572 · -72.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 6%
• Common ancestry: Romanian 15% Lithuanian 6% Slovak 5%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Sanilac

• 2024 margin: Solid R (+47.7) · D 25.5% · R 73.2% · Other 1.3%
• 2008→2024 swing: -39.6pp toward R · 2008: -8.1pp · 2024: -47.7pp
• All cycles: 2024: R+47.7 2020: R+45.6 2016: R+44.5 2012: R+20.4 2008: R+8.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.43%
• Current HPI: 252.2563
• 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

+115.7% since first listed

6 events — show timeline

• 2026-04-26 Price Changed $39,900 MiRealSource-MiMLS
• 2026-04-25 Price Changed $39,900 REALCOMP
• 2025-10-24 Listed $44,900 REALCOMP
• 2025-10-24 Listed $44,900 MiRealSource-MiMLS
• 2009-01-01 Listing Removed — MiRealSource-MiMLS
• 2008-05-21 Listed $18,500 MiRealSource-MiMLS