1300 Michigan TRLR 21 Ave · Iron Mountain, MI 49801

$45,000

2 bd · 1.0 ba · 840 sqft · Manufactured · 50 Days on market

Built 1972 Fair condition $54/sqft · 58% above area

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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
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated two bedroom one bathroom home for sale in the Park Ridge community for sale! If you're looking for a place in the Iron Mountain area this could be perfect for you. Amenities include access to clubhouse and playground. Updates include newer central air, roof, driveway, subflooring under main living areas, paint, flooring, kitchen, and bathroom. This well maintained and tastefully updated home can be yours so call your Realtor today!

Key facts

• Garage
• Built 1972
• Listed 50 days

Property features AI

Finance

• Financial info: Monthly rent amount listed at $587
• HOA & community: Clubhouse; Playground; Some pet restrictions

Exterior

• Parking: Carport with 1 parking space
• Utilities: 100 amp electric service; Public water; Public sanitary sewer; Natural gas
• Home design: Single wide manufactured home; Located in an MH park (Park Ridge); One-story
• Construction: Built in 1972; Piers foundation
• Exterior features: Vinyl siding; Paved street access; No water features

Interior

• Kitchen: Range/Oven; Refrigerator
• Bedrooms: Both bedrooms are on the first floor
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central A/C
• Interior features: Range/Oven; Refrigerator; Poured basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $45k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($864 rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 4.3% in Iron Mountain — 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 73/100 on livability (#225 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, employment D.
• Iron Mountain Public Schools (town): math 24% / reading 44% proficiency, ranked #316 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 72 active listings in the ZIP; 42 units permitted in Dickinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Dickinson County population projected at -14% 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 $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $12k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.92% ✓
• Cap rate: 16.21%
• Cash-on-cash: 35.42%
• DSCR: 2.58
• GRM: 4.3

CMA / ARV

• ARV (median comp): $28,514
• List price: $45,000
• Delta: 75.35%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 31.0%
• Equity multiple: 2.30×
• Total profit: $16,408
• Equity at exit: $6,710

10-year hold

• IRR: 38.2%
• Equity multiple: 4.56×
• Total profit: $44,840
• Equity at exit: $3,891

Cash invested: $12,600 (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 49801

• Home prices YoY: -27.8%
• Active inventory: 72
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $864 medium
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$182
• Net cashflow: $372

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 52%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-18
   days on market $45,000 Active 50 DOM

   Show marketing remark (443 chars)

   Updated two bedroom one bathroom home for sale in the Park Ridge community for sale! If you're looking for a place in the Iron Mountain area this could be perfect for you. Amenities include access to clubhouse and playground. Updates include newer central air, roof, driveway, subflooring under main living areas, paint, flooring, kitchen, and bathroom. This well maintained and tastefully updated home can be yours so call your Realtor today!

2. 2026-06-17
   price $45,000 Active 49 DOM

   Show marketing remark (443 chars)

   Updated two bedroom one bathroom home for sale in the Park Ridge community for sale! If you're looking for a place in the Iron Mountain area this could be perfect for you. Amenities include access to clubhouse and playground. Updates include newer central air, roof, driveway, subflooring under main living areas, paint, flooring, kitchen, and bathroom. This well maintained and tastefully updated home can be yours so call your Realtor today!

3. 2026-06-17
   days on market $50,000 Active 49 DOM

   Show marketing remark (443 chars)

   Updated two bedroom one bathroom home for sale in the Park Ridge community for sale! If you're looking for a place in the Iron Mountain area this could be perfect for you. Amenities include access to clubhouse and playground. Updates include newer central air, roof, driveway, subflooring under main living areas, paint, flooring, kitchen, and bathroom. This well maintained and tastefully updated home can be yours so call your Realtor today!

4. 2026-06-16
   days on market $50,000 Active 48 DOM

   Show marketing remark (421 chars)

   Two bedroom one and a half bathroom home in the Park Ridge mobile home park in Iron Mountain Michigan for sale! This park has had many recent updates including a playground and community club house added in recent years. This home has had many updates sitting at 980 SQ FT including newer floors, siding, water meter, and paint. Bathrooms have also been made hanicap accessible. Call your Realtor today to setup a showing

5. 2026-06-15
   days on market $50,000 Active 47 DOM
6. 2026-06-13
   days on market $50,000 Active 45 DOM
7. 2026-06-12
   days on market $50,000 Active 44 DOM
8. 2026-06-09
   days on market $50,000 Active 41 DOM
9. 2026-06-08
   days on market $50,000 Active 40 DOM
10. 2026-06-07
    days on market $50,000 Active 39 DOM
11. 2026-06-07
    days on market $50,000 Active 38 DOM
12. 2026-06-04
    days on market $50,000 Active 35 DOM
13. 2026-06-02
    days on market $50,000 Active 34 DOM
14. 2026-06-01
    days on market $50,000 Active 33 DOM
15. 2026-05-31
    days on market $50,000 Active 32 DOM
16. 2026-05-31
    days on market $50,000 Active 31 DOM
17. 2026-05-19
    price $50,000 443-char remark

    Show marketing remark (443 chars)

    Updated two bedroom one bathroom home for sale in the Park Ridge community for sale! If you're looking for a place in the Iron Mountain area this could be perfect for you. Amenities include access to clubhouse and playground. Updates include newer central air, roof, driveway, subflooring under main living areas, paint, flooring, kitchen, and bathroom. This well maintained and tastefully updated home can be yours so call your Realtor today!

18. 2026-05-18
    price $50,000 443-char remark

    Show marketing remark (443 chars)

    Updated two bedroom one bathroom home for sale in the Park Ridge community for sale! If you're looking for a place in the Iron Mountain area this could be perfect for you. Amenities include access to clubhouse and playground. Updates include newer central air, roof, driveway, subflooring under main living areas, paint, flooring, kitchen, and bathroom. This well maintained and tastefully updated home can be yours so call your Realtor today!

19. 2026-05-12
    price $39,900 421-char remark

    Show marketing remark (421 chars)

    Two bedroom one and a half bathroom home in the Park Ridge mobile home park in Iron Mountain Michigan for sale! This park has had many recent updates including a playground and community club house added in recent years. This home has had many updates sitting at 980 SQ FT including newer floors, siding, water meter, and paint. Bathrooms have also been made hanicap accessible. Call your Realtor today to setup a showing

20. 2026-05-08
    price $54,500 443-char remark

    Show marketing remark (443 chars)

    Updated two bedroom one bathroom home for sale in the Park Ridge community for sale! If you're looking for a place in the Iron Mountain area this could be perfect for you. Amenities include access to clubhouse and playground. Updates include newer central air, roof, driveway, subflooring under main living areas, paint, flooring, kitchen, and bathroom. This well maintained and tastefully updated home can be yours so call your Realtor today!

21. 2026-05-07
    price $54,500 443-char remark

    Show marketing remark (443 chars)

    Updated two bedroom one bathroom home for sale in the Park Ridge community for sale! If you're looking for a place in the Iron Mountain area this could be perfect for you. Amenities include access to clubhouse and playground. Updates include newer central air, roof, driveway, subflooring under main living areas, paint, flooring, kitchen, and bathroom. This well maintained and tastefully updated home can be yours so call your Realtor today!

22. 2026-04-29
    listed $57,500 Active 443-char remark

    Show marketing remark (443 chars)

    Updated two bedroom one bathroom home for sale in the Park Ridge community for sale! If you're looking for a place in the Iron Mountain area this could be perfect for you. Amenities include access to clubhouse and playground. Updates include newer central air, roof, driveway, subflooring under main living areas, paint, flooring, kitchen, and bathroom. This well maintained and tastefully updated home can be yours so call your Realtor today!

23. 2026-04-29
    listed $57,500 Active 443-char remark

    Show marketing remark (443 chars)

    Updated two bedroom one bathroom home for sale in the Park Ridge community for sale! If you're looking for a place in the Iron Mountain area this could be perfect for you. Amenities include access to clubhouse and playground. Updates include newer central air, roof, driveway, subflooring under main living areas, paint, flooring, kitchen, and bathroom. This well maintained and tastefully updated home can be yours so call your Realtor today!

24. 2026-04-27
    listed $42,500 Active 421-char remark

    Show marketing remark (421 chars)

    Two bedroom one and a half bathroom home in the Park Ridge mobile home park in Iron Mountain Michigan for sale! This park has had many recent updates including a playground and community club house added in recent years. This home has had many updates sitting at 980 SQ FT including newer floors, siding, water meter, and paint. Bathrooms have also been made hanicap accessible. Call your Realtor today to setup a showing

ⓘ 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: $10,373
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$830
• − Management: −$830
• − Depreciation: −$1,309
• Taxable income: $3,983
• Est. tax owed @ 24.0%: −$956
• After-tax cash flow: $3,507/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its resale value.

Repairs flagged

• Major kitchen cabinets — poor condition
• Major bathroom vanity — poor condition
• Moderate roof — visible wear
• Moderate exterior siding — weathered appearance
• Minor flooring — light wear

Value-add opportunities

• Resale new kitchen cabinets and appliances — modernizes the space and adds value
• Resale new bathroom vanity and fixtures — enhances the bathroom's functionality and appearance
• Resale new roof — improves the home's curb appeal and longevity
• Resale new exterior siding — enhances the home's curb appeal and adds value
• Both new flooring — improves the home's functionality and appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · poor condition	Major	$15,000–50,000
bathroom vanity · poor condition	Major	$15,000–50,000
roof · visible wear	Moderate	$3,000–15,000
exterior siding · weathered appearance	Moderate	$3,000–15,000
flooring · light wear	Minor	$500–3,000
Total estimated repair cost · 5 items		$36,500–133,000

Value-add ROI direction

• Resale new kitchen cabinets and appliances — modernizes the space and adds value ↑
• Resale new bathroom vanity and fixtures — enhances the bathroom's functionality and appearance ↑
• Resale new roof — improves the home's curb appeal and longevity ↑
• Resale new exterior siding — enhances the home's curb appeal and adds value ↑
• Both new flooring — improves the home's functionality and appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Iron Mountain Public Schools
• NCES district ID: 2619410
• Math proficiency: 24% ▼ -7.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $40,676
• Composite: 28.55/100
• National rank: #6729
• State rank: #316 of 540 in MI

Livability — Iron Mountain

• Score: 73/100
• State rank: #225
• US rank: #5664

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iron Mountain, MI
• Population (ZIP): 11,606

Population outlook (Dickinson County) Hauer SSP2

• Today (2025): 25,175 people
• By 2030: 24,647 · -2.1%
• By 2040: 23,176 · -7.9%
• By 2050: 21,605 · -14.2%
• By 2075: 18,429 · -26.8%
• By 2100: 14,394 · -42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Black 1% Native American 1%
• Common ancestry: Lithuanian 8% Romanian 7% Portuguese 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1%

Political lean MEDSL · Dickinson

• 2024 margin: Solid R (+36.3) · D 31.1% · R 67.4% · Other 1.5%
• 2008→2024 swing: -28.4pp toward R · 2008: -7.9pp · 2024: -36.3pp
• All cycles: 2024: R+36.3 2020: R+33.4 2016: R+35.4 2012: R+21.4 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.55%
• Current HPI: 191.087
• 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

+5.9% since first listed

13 events — show timeline

• 2026-06-18 Price Changed $45,000 MiRealSource-MiMLS
• 2026-06-17 Price Changed $45,000 UPAR
• 2026-06-16 Price Changed $25,000 UPAR
• 2026-05-27 Price Changed $30,000 UPAR
• 2026-05-20 Price Changed $35,000 UPAR
• 2026-05-19 Price Changed $50,000 MiRealSource-MiMLS
• 2026-05-18 Price Changed $50,000 UPAR
• 2026-05-12 Price Changed $39,900 UPAR
• 2026-05-08 Price Changed $54,500 MiRealSource-MiMLS
• 2026-05-07 Price Changed $54,500 UPAR
• 2026-04-29 Listed $57,500 UPAR
• 2026-04-29 Listed $57,500 MiRealSource-MiMLS
• 2026-04-27 Listed $42,500 UPAR