319 Dart St · K. I. Sawyer, MI 49841

$75,000

3 bd · 1.0 ba · 1,100 sqft · Condo · 118 Days on market

Built 1970 Good condition $68/sqft · at area comps Est $75k · at est. $150/mo HOA · 15% of rent

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Why this score? — see what drove the C- 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 +20.7/30.0
• 1% rule +8.0/10.0
• ARV discount +7.4/15.0
• DSCR +6.6/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This super-affordable and charming condo located at 319 Dart St in Gwinn, MI offers comfortable living in a convenient location. With 1 bathroom, 1,100 sq. ft. of finished living space, and 2 stories, this condo is perfect for a single individual or a small family. The lot size is 1,200 sq. ft. , providing just enough outdoor space without the hassle of extensive maintenance. Don't miss out on this opportunity to own a cozy home in a growing and desirable neighborhood. It is a perfect investment.

Key facts

• $150 HOA
• Garage
• Built 1970

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath condo listed at $75k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($975 rent vs $75k).
• Recommended offer: $68k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Gwinn Area Community Schools (rural): math 16% / reading 30% proficiency, ranked #439 of 540 in MI (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 61 active listings in the ZIP; 91 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marquette County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $68,250 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.84%
• DSCR: 1.26
• GRM: 6.4

CMA / ARV

• ARV (median comp): $74,795
• List price: $75,000
• Delta: 0.27%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-5,542
• Equity at exit: $11,183

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $3,984
• Equity at exit: $6,485

Cash invested: $21,000 (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 49841

• Home prices YoY: -29.0%
• Active inventory: 61
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $975 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$150
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $102

Break-even live

Break-even rent $846

Max offer price $75,000

Occupancy floor 85%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-18
   status Pending 501-char remark

   Show marketing remark (501 chars)

   This super-affordable and charming condo located at 319 Dart St in Gwinn, MI offers comfortable living in a convenient location. With 1 bathroom, 1,100 sq. ft. of finished living space, and 2 stories, this condo is perfect for a single individual or a small family. The lot size is 1,200 sq. ft. , providing just enough outdoor space without the hassle of extensive maintenance. Don't miss out on this opportunity to own a cozy home in a growing and desirable neighborhood. It is a perfect investment.

2. 2026-05-18
   status Pending 501-char remark

   Show marketing remark (501 chars)

   This super-affordable and charming condo located at 319 Dart St in Gwinn, MI offers comfortable living in a convenient location. With 1 bathroom, 1,100 sq. ft. of finished living space, and 2 stories, this condo is perfect for a single individual or a small family. The lot size is 1,200 sq. ft. , providing just enough outdoor space without the hassle of extensive maintenance. Don't miss out on this opportunity to own a cozy home in a growing and desirable neighborhood. It is a perfect investment.

3. 2026-01-20
   listed $75,000 Active 501-char remark

   Show marketing remark (501 chars)

   This super-affordable and charming condo located at 319 Dart St in Gwinn, MI offers comfortable living in a convenient location. With 1 bathroom, 1,100 sq. ft. of finished living space, and 2 stories, this condo is perfect for a single individual or a small family. The lot size is 1,200 sq. ft. , providing just enough outdoor space without the hassle of extensive maintenance. Don't miss out on this opportunity to own a cozy home in a growing and desirable neighborhood. It is a perfect investment.

4. 2026-01-20
   listed $75,000 Active 501-char remark

   Show marketing remark (501 chars)

   This super-affordable and charming condo located at 319 Dart St in Gwinn, MI offers comfortable living in a convenient location. With 1 bathroom, 1,100 sq. ft. of finished living space, and 2 stories, this condo is perfect for a single individual or a small family. The lot size is 1,200 sq. ft. , providing just enough outdoor space without the hassle of extensive maintenance. Don't miss out on this opportunity to own a cozy home in a growing and desirable neighborhood. It is a perfect investment.

ⓘ 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: $11,703
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$936
• − Management: −$936
• − HOA: −$1,800
• − Depreciation: −$2,182
• Taxable income: $147
• Est. tax owed @ 24.0%: −$35
• After-tax cash flow: $1,190/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 · 12 photos

Good 75/100 Cosmetic rehab

This charming and well-maintained condo is in good condition with minimal repairs needed. It offers a good investment opportunity with potential for value increase through cosmetic updates.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Replace HVAC system — A reliable HVAC system is essential for tenant satisfaction and can increase rental value.
• Both Landscaping improvements — Well-maintained landscaping can improve curb appeal and attract more potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Replace HVAC system — A reliable HVAC system is essential for tenant satisfaction and can increase rental value. ↑
• Both Landscaping improvements — Well-maintained landscaping can improve curb appeal and attract more potential buyers/renters. ↑

ⓘ 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: Gwinn Area Community Schools
• NCES district ID: 2614690
• Math proficiency: 16% ▼ -9.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $46,152
• Composite: 19.98/100
• National rank: #8670
• State rank: #439 of 540 in MI

Livability — K. I. Sawyer

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: K. I. Sawyer, MI
• Population (ZIP): 7,359

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 (88%)
• Race & ethnicity: White 88% Two or more races 6% Native American 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1% Other Asian/Pacific 1%

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: ▼ -87.41%
• Current HPI: 214.0389
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Pending — REALCOMP
• 2026-01-20 Listed $75,000 REALCOMP
• 2026-01-20 Listed $75,000 MiRealSource-MiMLS