1119 N 3rd Ave · Escanaba, MI 49829

$84,000

3 bd · 2.0 ba · 1,212 sqft · SingleFamily public records · 5 Days on market

Built 1900 6,969 sqft lot $69/sqft · 22% below area Est $93k · 10% 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 +30.0/30.0
• ARV discount +11.9/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.8/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The subject property offers two bedrooms and two bathrooms with approximately 1,048 sq. ft. of above-grade living space, set on a spacious 70x100 city lot in a conforming area. The exterior does require attention, presenting a great opportunity to add value and build equity. Inside, several major updates have already been completed, including an all-new kitchen, updated bathrooms, a new furnace and hot water heater, and an upgraded electrical panel—providing a strong foundation for future improvements. The fully fenced backyard offers privacy and space for pets, entertaining, or relaxation. With key interior upgrades in place and room to finish the exterior to your taste, this home is a great opportunity for investors or buyers looking to create their own space while building equity.

Key facts

• 6,969 sq ft lot
• 3 parking spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Cap rate 13.9% vs local median 4.9% in Escanaba — 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 75/100 on livability (#161 in MI, #4,089 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime D+, commute F, employment F.
• Escanaba Area Public Schools (town): math 31% / reading 46% proficiency, ranked #243 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 66 active listings in the ZIP; 38 units permitted in Delta County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $581 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Delta County population projected at -22% 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 $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 10y 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 $30k; list at $84k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,000

Questions for the listing agent

1. Built in 1900 — 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 B-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?
4. Crime grade is D 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: 1.58% ✓
• Cap rate: 13.93%
• Cash-on-cash: 27.26%
• DSCR: 2.21
• GRM: 5.3

CMA / ARV

• ARV (median comp): $93,176
• List price: $84,000
• Delta: -9.85%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 N 10th St	0.15mi	2/2.0 (-1)	1,096 (-10%)	11mo	$135,000	$123	63
405 South 12th St	0.49mi	3/1.0	1,272 (+5%)	11mo	$160,000	$126	56
323 S 19th St	0.66mi	2/2.0 (-1)	1,234 (+2%)	9mo	$185,000	$150	53
506 S 10th St	0.60mi	3/1.0	1,318 (+9%)	0mo	$40,000	$30	53
424 S 19th St	0.74mi	3/1.5	1,232 (+2%)	12mo	$124,000	$101	50
911 S 4th Ave	0.60mi	2/1.0 (-1)	1,280 (+6%)	5mo	$40,000	$31	49
204 S 17th St	0.54mi	2/1.0 (-1)	1,107 (-9%)	8mo	$115,000	$104	45
511 S 11th St	0.59mi	3/1.0	1,344 (+11%)	9mo	$215,000	$160	43
1825 S 3rd Ave	0.69mi	3/1.5	1,348 (+11%)	11mo	$158,500	$118	38
404 S 18th St	0.69mi	3/1.0	1,377 (+14%)	3mo	$166,500	$121	38
605 S 9th St	0.70mi	3/1.0	1,343 (+11%)	11mo	$159,000	$118	36
611 S 13th St	0.71mi	3/1.0	1,056 (-13%)	9mo	$100,000	$95	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 21.2%
• Equity multiple: 1.87×
• Total profit: $20,398
• Equity at exit: $12,525

10-year hold

• IRR: 29.3%
• Equity multiple: 3.61×
• Total profit: $61,495
• Equity at exit: $7,263

Cash invested: $23,520 (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 49829

• Home prices YoY: -25.6%
• Active inventory: 66
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,325 medium
• Mortgage (P&I): −$441
• Tax from tax record: −$37 /mo · $447/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $534

Break-even live

Break-even rent $649

Max offer price $84,000

Occupancy floor 55%

Sensitivity live

Price	-10% $582	-5% $558	+0% $534	+5% $511	+10% $487
Rent	-10% $430	-5% $482	+0% $534	+5% $587	+10% $639
Rate	-1.0pp $577	-0.5pp $556	base $534	+0.5pp $513	+1.0pp $490

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-05-11
   status Pending 800-char remark

   Show marketing remark (800 chars)

   The subject property offers two bedrooms and two bathrooms with approximately 1,048 sq. ft. of above-grade living space, set on a spacious 70x100 city lot in a conforming area. The exterior does require attention, presenting a great opportunity to add value and build equity. Inside, several major updates have already been completed, including an all-new kitchen, updated bathrooms, a new furnace and hot water heater, and an upgraded electrical panel—providing a strong foundation for future improvements. The fully fenced backyard offers privacy and space for pets, entertaining, or relaxation. With key interior upgrades in place and room to finish the exterior to your taste, this home is a great opportunity for investors or buyers looking to create their own space while building equity.

2. 2026-05-11
   status Pending 800-char remark

   Show marketing remark (800 chars)

   The subject property offers two bedrooms and two bathrooms with approximately 1,048 sq. ft. of above-grade living space, set on a spacious 70x100 city lot in a conforming area. The exterior does require attention, presenting a great opportunity to add value and build equity. Inside, several major updates have already been completed, including an all-new kitchen, updated bathrooms, a new furnace and hot water heater, and an upgraded electrical panel—providing a strong foundation for future improvements. The fully fenced backyard offers privacy and space for pets, entertaining, or relaxation. With key interior upgrades in place and room to finish the exterior to your taste, this home is a great opportunity for investors or buyers looking to create their own space while building equity.

3. 2026-05-05
   listed $84,000 Active 800-char remark

   Show marketing remark (800 chars)

   The subject property offers two bedrooms and two bathrooms with approximately 1,048 sq. ft. of above-grade living space, set on a spacious 70x100 city lot in a conforming area. The exterior does require attention, presenting a great opportunity to add value and build equity. Inside, several major updates have already been completed, including an all-new kitchen, updated bathrooms, a new furnace and hot water heater, and an upgraded electrical panel—providing a strong foundation for future improvements. The fully fenced backyard offers privacy and space for pets, entertaining, or relaxation. With key interior upgrades in place and room to finish the exterior to your taste, this home is a great opportunity for investors or buyers looking to create their own space while building equity.

4. 2026-05-05
   listed $84,000 Active 800-char remark

   Show marketing remark (800 chars)

   The subject property offers two bedrooms and two bathrooms with approximately 1,048 sq. ft. of above-grade living space, set on a spacious 70x100 city lot in a conforming area. The exterior does require attention, presenting a great opportunity to add value and build equity. Inside, several major updates have already been completed, including an all-new kitchen, updated bathrooms, a new furnace and hot water heater, and an upgraded electrical panel—providing a strong foundation for future improvements. The fully fenced backyard offers privacy and space for pets, entertaining, or relaxation. With key interior upgrades in place and room to finish the exterior to your taste, this home is a great opportunity for investors or buyers looking to create their own space while building equity.

5. 2020-06-23
   soldstatus $29,900 596-char remark

   Show marketing remark (596 chars)

   This home just needs some TLC to become your home or investment property. Newer furnace, hot water tank and plumbing has already been done along with new water and sewer lines to the street. Newer appliances in the home will also stay. This house sits on a double lot so there's plenty of room to put up a garage. The workshop shed in back has gas & power ran to it. There is a nice size kitchen, dining room, living room, bedroom with 1/2 bath and enclosed front sun porch on the main floor. Upstairs is an open bedroom with full bathroom (could be redivided to make 2 bedrooms if needed).

6. 2020-06-23
   soldstatus $29,900 596-char remark

   Show marketing remark (596 chars)

   This home just needs some TLC to become your home or investment property. Newer furnace, hot water tank and plumbing has already been done along with new water and sewer lines to the street. Newer appliances in the home will also stay. This house sits on a double lot so there's plenty of room to put up a garage. The workshop shed in back has gas & power ran to it. There is a nice size kitchen, dining room, living room, bedroom with 1/2 bath and enclosed front sun porch on the main floor. Upstairs is an open bedroom with full bathroom (could be redivided to make 2 bedrooms if needed).

7. 2020-06-23
   soldstatus $29,900

   Show marketing remark (596 chars)

   This home just needs some TLC to become your home or investment property. Newer furnace, hot water tank and plumbing has already been done along with new water and sewer lines to the street. Newer appliances in the home will also stay. This house sits on a double lot so there's plenty of room to put up a garage. The workshop shed in back has gas & power ran to it. There is a nice size kitchen, dining room, living room, bedroom with 1/2 bath and enclosed front sun porch on the main floor. Upstairs is an open bedroom with full bathroom (could be redivided to make 2 bedrooms if needed).

8. 2019-10-14
   listed $29,900 596-char remark

   Show marketing remark (596 chars)

   This home just needs some TLC to become your home or investment property. Newer furnace, hot water tank and plumbing has already been done along with new water and sewer lines to the street. Newer appliances in the home will also stay. This house sits on a double lot so there's plenty of room to put up a garage. The workshop shed in back has gas & power ran to it. There is a nice size kitchen, dining room, living room, bedroom with 1/2 bath and enclosed front sun porch on the main floor. Upstairs is an open bedroom with full bathroom (could be redivided to make 2 bedrooms if needed).

9. 2019-10-14
   listed $29,900 596-char remark

   Show marketing remark (596 chars)

   This home just needs some TLC to become your home or investment property. Newer furnace, hot water tank and plumbing has already been done along with new water and sewer lines to the street. Newer appliances in the home will also stay. This house sits on a double lot so there's plenty of room to put up a garage. The workshop shed in back has gas & power ran to it. There is a nice size kitchen, dining room, living room, bedroom with 1/2 bath and enclosed front sun porch on the main floor. Upstairs is an open bedroom with full bathroom (could be redivided to make 2 bedrooms if needed).

10. 2016-10-27
    historical
11. 2016-10-15
    listed $27,900
12. 2016-10-05
    soldstatus $9,000
13. 1997-03-01
    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: $447 · $37/mo
• Projected year-2 tax: $871 · $73/mo
• Expected delta: +$423/yr (+$35/mo · 94.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,906
• − Mortgage interest: −$4,705
• − Property taxes: −$447
• − Insurance: −$420
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$2,444
• Taxable income: $5,344
• Est. tax owed @ 24.0%: −$1,283
• After-tax cash flow: $5,129/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: Escanaba Area Public Schools
• NCES district ID: 2613500
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $37,187
• Composite: 31.97/100
• National rank: #5841
• State rank: #243 of 540 in MI

Livability — Escanaba

• Score: 75/100
• State rank: #161
• US rank: #4089

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Escanaba, MI
• Population (ZIP): 16,859

Population outlook (Delta County) Hauer SSP2

• Today (2025): 34,431 people
• By 2030: 33,003 · -4.1%
• By 2040: 29,748 · -13.6%
• By 2050: 26,753 · -22.3%
• By 2075: 20,962 · -39.1%
• By 2100: 15,616 · -54.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 9% Hispanic / Latino 2% Native American 2%
• Common ancestry: Lithuanian 14% Italian 4% Romanian 4%
• Foreign-born: 1% · Canada

Political lean MEDSL · Delta

• 2024 margin: Solid R (+30.4) · D 34.1% · R 64.5% · Other 1.4%
• 2008→2024 swing: -36.7pp toward R · 2008: 6.3pp · 2024: -30.4pp
• All cycles: 2024: R+30.4 2020: R+26.5 2016: R+25.4 2012: R+6.7 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -85.16%
• Current HPI: 247.9676
• 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

+460.0% since first listed

13 events — show timeline

• 2026-05-11 Pending — UPAR
• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-05 Listed $84,000 MiRealSource-MiMLS
• 2026-05-05 Listed $84,000 UPAR
• 2020-06-23 Sold (Public Records) $29,900 Public Records
• 2020-06-23 Sold (MLS) $29,900 UPAR
• 2020-06-23 Sold (MLS) $29,900 MiRealSource-MiMLS
• 2019-10-14 Listed $29,900 UPAR
• 2019-10-14 Listed $29,900 MiRealSource-MiMLS
• 2016-10-27 Listing Removed — MiRealSource-MiMLS
• 2016-10-15 Listed $27,900 MiRealSource-MiMLS
• 2016-10-05 Sold (Public Records) $9,000 Public Records
• 1997-03-01 Sold (Public Records) $15,000 Public Records

Property tax history

-5.6%/yr

Latest (2025): $447 · -45.8% YoY. Source: county tax records.