119 Hemlock St · Republic, MI 49879

$86,000

2 bd · 1.0 ba · 632 sqft · SingleFamily public records · 25 Days on market

Built 1890 7,405 sqft lot $136/sqft · at area comps Est $107k · 20% 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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• Appreciation +6.8/10.0
• 1% rule +4.7/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

Nice house in Republic with newly fenced in backyard. Some renovations also done in the kitchen and the living room. Main bedroom on the first floor with an additional bedroom upstairs. Good neighborhood. House was recently vacated and is ready for a new owner.

Key facts

• 7,405 sq ft lot
• 2 parking spots
• Built 1890

Property features AI

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Community sewer; Electricity connected
• Home design: Single-story residential home; Built in 1890; Below-grade finished area: none (basement below grade)
• Construction: Vinyl siding and wood exterior; Basement foundation
• Exterior features: Deck; Walk-to-school location; Deep lot (150+ ft.); Paved, year-round street frontage

Interior

• Kitchen: Eat-in kitchen (approx. 11 x 8); Breakfast nook (approx. 12 x 8)
• Bedrooms: Main-level bedroom (11 x 10)
• Bathrooms: One full bathroom on the main level (approx. 9 x 7)
• Heating & cooling: Heat pump for heating and cooling; Electric water heater; 100 amp electric service
• Interior features: Six total rooms; Living room; Eat-in kitchen; Full basement
• Laundry & utility: Basement utility space

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $86k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/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 $84k (2.9% below list).
• Recommended offer: $84k (2.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 55/100 on livability (#667 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, health & safety C-, schools D-.
• Republic-Michigamme Schools (rural): math 20% / reading 30% proficiency, ranked #607 of 760 in MI (top 80%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 32 active listings in the ZIP; 91 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($595 loan paydown + $3k appreciation (3.5% local appreciation)).
• Marquette County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (3.5% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 11y 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 $48k; list at $86k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,523 (2.9% below list)

Questions for the listing agent

1. Built in 1890 — 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. 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?
4. 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?
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: 0.97% ✗
• Cap rate: 8.36%
• Cash-on-cash: 7.38%
• DSCR: 1.33
• GRM: 8.6

CMA / ARV

• ARV (median comp): $107,163
• List price: $86,000
• Delta: -19.75%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

3.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 15.6%
• Equity multiple: 1.92×
• Total profit: $22,063
• Equity at exit: $41,130

10-year hold

• IRR: 16.9%
• Equity multiple: 3.59×
• Total profit: $62,484
• Equity at exit: $65,370

Cash invested: $24,080 (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 49879

• Home prices YoY: 2.1%
• Active inventory: 32
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $835 medium
• Mortgage (P&I): −$451
• Tax from tax record: −$25 /mo · $300/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $148

Break-even live

Break-even rent $648

Max offer price $86,000

Occupancy floor 77%

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: $21,500
• Closing costs: $2,580
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-01
   days on market $86,000 Active 25 DOM
2. 2026-05-31
   days on market $86,000 Active 24 DOM
3. 2026-05-31
   days on market $86,000 Active 23 DOM
4. 2026-05-07
   listed $86,000 Active 2579-char remark
5. 2026-05-07
   listed $86,000 Active 2579-char remark
6. 2023-05-15
   soldstatus $48,000
7. 2023-05-02
   soldstatus $48,000 Closed 261-char remark

   Show marketing remark (261 chars)

   Nice house in Republic with newly fenced in backyard. Some renovations also done in the kitchen and the living room. Main bedroom on the first floor with an additional bedroom upstairs. Good neighborhood. House was recently vacated and is ready for a new owner.

8. 2023-05-02
   soldstatus $48,000 Closed 261-char remark

   Show marketing remark (261 chars)

   Nice house in Republic with newly fenced in backyard. Some renovations also done in the kitchen and the living room. Main bedroom on the first floor with an additional bedroom upstairs. Good neighborhood. House was recently vacated and is ready for a new owner.

9. 2023-04-13
   status Pending 261-char remark

   Show marketing remark (261 chars)

   Nice house in Republic with newly fenced in backyard. Some renovations also done in the kitchen and the living room. Main bedroom on the first floor with an additional bedroom upstairs. Good neighborhood. House was recently vacated and is ready for a new owner.

10. 2023-04-13
    status Pending 261-char remark

    Show marketing remark (261 chars)

    Nice house in Republic with newly fenced in backyard. Some renovations also done in the kitchen and the living room. Main bedroom on the first floor with an additional bedroom upstairs. Good neighborhood. House was recently vacated and is ready for a new owner.

11. 2023-03-13
    status Active 261-char remark

    Show marketing remark (261 chars)

    Nice house in Republic with newly fenced in backyard. Some renovations also done in the kitchen and the living room. Main bedroom on the first floor with an additional bedroom upstairs. Good neighborhood. House was recently vacated and is ready for a new owner.

12. 2023-03-06
    historical Keep Showing-Contgcy Appl 261-char remark

    Show marketing remark (261 chars)

    Nice house in Republic with newly fenced in backyard. Some renovations also done in the kitchen and the living room. Main bedroom on the first floor with an additional bedroom upstairs. Good neighborhood. House was recently vacated and is ready for a new owner.

13. 2023-01-30
    listed $55,000 Active 261-char remark

    Show marketing remark (261 chars)

    Nice house in Republic with newly fenced in backyard. Some renovations also done in the kitchen and the living room. Main bedroom on the first floor with an additional bedroom upstairs. Good neighborhood. House was recently vacated and is ready for a new owner.

14. 2023-01-30
    listed $55,000 Active 261-char remark

    Show marketing remark (261 chars)

    Nice house in Republic with newly fenced in backyard. Some renovations also done in the kitchen and the living room. Main bedroom on the first floor with an additional bedroom upstairs. Good neighborhood. House was recently vacated and is ready for a new owner.

15. 2022-06-07
    soldstatus $48,000
16. 2022-06-06
    soldstatus $48,000

    Show marketing remark (511 chars)

    Quaint home in South Republic is located close to the school, ballfield, store and many good fishing and recreations spots. The main floor offers a bedroom, bathroom, bright living room, galley kitchen and dining room with corner pantry. On the second floor you will find the attic space has been finished into a large landing perfect for an office or play room and a spacious gabled bedroom. Partial basement is accessed from the back yard and has laundry hookups, updated electrical panel and lots of storage.

17. 2022-06-06
    soldstatus $48,000

    Show marketing remark (511 chars)

    Quaint home in South Republic is located close to the school, ballfield, store and many good fishing and recreations spots. The main floor offers a bedroom, bathroom, bright living room, galley kitchen and dining room with corner pantry. On the second floor you will find the attic space has been finished into a large landing perfect for an office or play room and a spacious gabled bedroom. Partial basement is accessed from the back yard and has laundry hookups, updated electrical panel and lots of storage.

18. 2022-03-14
    listed $49,900

    Show marketing remark (511 chars)

    Quaint home in South Republic is located close to the school, ballfield, store and many good fishing and recreations spots. The main floor offers a bedroom, bathroom, bright living room, galley kitchen and dining room with corner pantry. On the second floor you will find the attic space has been finished into a large landing perfect for an office or play room and a spacious gabled bedroom. Partial basement is accessed from the back yard and has laundry hookups, updated electrical panel and lots of storage.

19. 2022-03-14
    listed $49,900

    Show marketing remark (511 chars)

    Quaint home in South Republic is located close to the school, ballfield, store and many good fishing and recreations spots. The main floor offers a bedroom, bathroom, bright living room, galley kitchen and dining room with corner pantry. On the second floor you will find the attic space has been finished into a large landing perfect for an office or play room and a spacious gabled bedroom. Partial basement is accessed from the back yard and has laundry hookups, updated electrical panel and lots of storage.

20. 2018-10-14
    historical
21. 2017-10-13
    listed $33,000
22. 2017-01-01
    historical
23. 2016-06-28
    listed $35,000
24. 2015-10-31
    historical
25. 2015-05-13
    listed $32,000
26. 2005-09-06
    soldstatus $6,000
27. 1996-07-10
    soldstatus $15,000

ⓘ 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: $300 · $25/mo
• Projected year-2 tax: $812 · $68/mo
• Expected delta: +$512/yr (+$43/mo · 170.9%)

ⓘ 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 3/10 Moderate
• 🌡 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: $10,023
• − Mortgage interest: −$4,817
• − Property taxes: −$300
• − Insurance: −$430
• − Repairs & maintenance: −$802
• − Management: −$802
• − Depreciation: −$2,502
• Taxable income: $370
• Est. tax owed @ 24.0%: −$89
• After-tax cash flow: $1,687/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: Republic-Michigamme Schools
• NCES district ID: 2629580
• Math proficiency: 20% ▲ 5.00%
• Reading proficiency: 30% ▲ 15.00%
• Median HH income: $37,326
• Composite: 23.87/100
• National rank: #13209
• State rank: #607 of 760 in MI

Livability — Republic

• Score: 55/100
• State rank: #667
• US rank: #23566

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Republic, MI
• Population (ZIP): 1,105

Population outlook (Marquette County) Hauer SSP2

• Today (2025): 67,278 people
• By 2030: 67,249 · +-0.0%
• By 2040: 66,297 · -1.5%
• By 2050: 65,241 · -3.0%
• By 2075: 64,365 · -4.3%
• By 2100: 60,707 · -9.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Two or more races 1% Hispanic / Latino 1%
• Common ancestry: Lithuanian 8% Romanian 3% Slovak 2%
• Foreign-born: 0%

Political lean MEDSL · Marquette

• 2024 margin: Lean D (+8.7) · D 53.5% · R 44.8% · Other 1.7%
• 2008→2024 swing: -11.6pp toward R · 2008: 20.3pp · 2024: 8.7pp
• All cycles: 2024: D+8.7 2020: D+11.2 2016: D+4.2 2012: D+14.1 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 3.50%
• Current HPI: 170.8914
• 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

+473.3% since first listed

24 events — show timeline

• 2026-06-01 Listing Removed — MiRealSource-MiMLS
• 2026-05-07 Listed $86,000 MiRealSource-MiMLS
• 2023-05-15 Sold (Public Records) $48,000 Public Records
• 2023-05-02 Sold (MLS) $48,000 MiRealSource-MiMLS
• 2023-05-02 Sold (MLS) $48,000 UPAR
• 2023-04-13 Pending — UPAR
• 2023-04-13 Pending — MiRealSource-MiMLS
• 2023-03-13 Relisted — MiRealSource-MiMLS
• 2023-03-06 Contingent — MiRealSource-MiMLS
• 2023-01-30 Listed $55,000 MiRealSource-MiMLS
• 2023-01-30 Listed $55,000 UPAR
• 2022-06-07 Sold (Public Records) $48,000 Public Records
• 2022-06-06 Sold (MLS) $48,000 UPAR
• 2022-06-06 Sold (MLS) $48,000 MiRealSource-MiMLS
• 2022-03-14 Listed $49,900 UPAR
• 2022-03-14 Listed $49,900 MiRealSource-MiMLS
• 2018-10-14 Listing Removed — MiRealSource-MiMLS
• 2017-10-13 Listed $33,000 MiRealSource-MiMLS
• 2017-01-01 Listing Removed — MiRealSource-MiMLS
• 2016-06-28 Listed $35,000 MiRealSource-MiMLS
• 2015-10-31 Listing Removed — MiRealSource-MiMLS
• 2015-05-13 Listed $32,000 MiRealSource-MiMLS
• 2005-09-06 Sold (Public Records) $6,000 Public Records
• 1996-07-10 Sold (Public Records) $15,000 Public Records

Property tax history

-2.9%/yr

Latest (2025): $300 · -47.3% YoY. Source: county tax records.