37 N Washington Ave · Stambaugh, MI 49935

$124,900

4 bd · 1.0 ba · 1,320 sqft · SingleFamily · 23 Days on market

Built 1940 3,484 sqft lot

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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 +22.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +4.8/10.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Say hello to your move-in-ready dream home! This beautifully updated 4 bedroom, 1 bath ranch shines on a spacious corner lot, offering the perfect blend of modern upgrades and effortless comfort. The main level welcomes you with a sprawling, sun-drenched living room that flows seamlessly into the kitchen and dining areas—ideal for easy daily living and weekend entertaining. The massive lower level maximizes your space with a convenient drive-under garage, bonus non-conforming 3/4 bath, endless storage solutions, and pristine utility area. Peace of mind comes standard here, thanks to a brand-new furnace and an upgraded 100-amp electrical system.

Key facts

• Drive-under garage
• Updated ranch
• Corner lot

Tags

• CORNER LOT
• UPDATED RANCH
• SUN-DRENCHED LIVING ROOM
• DRIVE-UNDER GARAGE
• ENDLESS STORAGE SOLUTIONS
• PRISTINE UTILITY AREA

Property features AI

Finance

• Other: Property type: Residential; Lot: approximately 0.08 acres (frontage listed as 325); Zoning: Residential
• Financial info: No investor or income/expense details provided
• HOA & community: No HOA information provided

Exterior

• Parking: Basement garage with 1 parking space
• Security: No security features listed
• Utilities: Public water and public sanitary sewer; Electricity connected (100 Amp Service); Natural gas connected
• Home design: Residential single-story home; Built in 1940; Basement present; Facing/directional info not provided
• Construction: Exterior finished with stone and hard board; Basement foundation; Below-grade finished area not listed
• Exterior features: City limits location; Road frontage; No outbuildings or water features listed

Interior

• Kitchen: Kitchen on the first floor (approx. 12 x 9); Appliances: Dishwasher, Range/Oven, Refrigerator, Freezer
• Bedrooms: First-floor bedrooms (4 total): approximately 8 x 10, 10 x 9, 12 (width), and 11 x 12
• Flooring: No flooring details provided
• Bathrooms: One full bathroom on the main/first floor (approximately 6 x 6)
• Heating & cooling: Forced air heating (natural gas); Wall/window air conditioning; Gas water heater; 100 amp electric service
• Interior features: No notable built-in interior features listed
• Laundry & utility: Washer and Dryer included; Basement present (block and poured foundation types)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $201 ($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 $123k (1.8% below list).
• Recommended offer: $123k (1.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• West Iron County Public Schools (town): math 38% / reading 46% proficiency, ranked #204 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 131 active listings in the ZIP; 156 units permitted in Iron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Iron County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 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.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,707 (1.8% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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.
4. 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.
5. 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: 0.98% ✗
• Cap rate: 8.22%
• Cash-on-cash: 6.89%
• DSCR: 1.31
• GRM: 8.5

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: -5.8%
• Equity multiple: 0.79×
• Total profit: $-7,499
• Equity at exit: $18,623

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $9,766
• Equity at exit: $10,799

Cash invested: $34,972 (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 49935

• Home prices YoY: -28.7%
• Active inventory: 131
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,227 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$62 /mo · $740/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $201

Break-even live

Break-even rent $973

Max offer price $124,900

Occupancy floor 79%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $124,900 Active 23 DOM
2. 2026-06-17
   days on market $124,900 Active 22 DOM
3. 2026-06-16
   days on market $124,900 Active 21 DOM
4. 2026-06-15
   days on market $124,900 Active 20 DOM
5. 2026-06-13
   days on market $124,900 Active 18 DOM
6. 2026-06-12
   days on market $124,900 Active 17 DOM
7. 2026-06-09
   days on market $124,900 Active 14 DOM
8. 2026-06-08
   days on market $124,900 Active 13 DOM
9. 2026-06-07
   days on market $124,900 Active 12 DOM
10. 2026-06-07
    days on market $124,900 Active 11 DOM
11. 2026-06-04
    days on market $124,900 Active 8 DOM
12. 2026-06-02
    days on market $124,900 Active 7 DOM
13. 2026-06-01
    days on market $124,900 Active 6 DOM
14. 2026-05-31
    days on market $124,900 Active 5 DOM
15. 2026-05-31
    days on market $124,900 Active 4 DOM
16. 2026-05-27
    listed $124,900 Active 658-char remark

    Show marketing remark (658 chars)

    Say hello to your move-in-ready dream home! This beautifully updated 4 bedroom, 1 bath ranch shines on a spacious corner lot, offering the perfect blend of modern upgrades and effortless comfort. The main level welcomes you with a sprawling, sun-drenched living room that flows seamlessly into the kitchen and dining areas—ideal for easy daily living and weekend entertaining. The massive lower level maximizes your space with a convenient drive-under garage, bonus non-conforming 3/4 bath, endless storage solutions, and pristine utility area. Peace of mind comes standard here, thanks to a brand-new furnace and an upgraded 100-amp electrical system.

17. 2026-05-26
    listed $124,900 Active 658-char remark

    Show marketing remark (658 chars)

    Say hello to your move-in-ready dream home! This beautifully updated 4 bedroom, 1 bath ranch shines on a spacious corner lot, offering the perfect blend of modern upgrades and effortless comfort. The main level welcomes you with a sprawling, sun-drenched living room that flows seamlessly into the kitchen and dining areas—ideal for easy daily living and weekend entertaining. The massive lower level maximizes your space with a convenient drive-under garage, bonus non-conforming 3/4 bath, endless storage solutions, and pristine utility area. Peace of mind comes standard here, thanks to a brand-new furnace and an upgraded 100-amp electrical system.

18. 2026-05-26
    listed $124,900 Active 658-char remark

    Show marketing remark (658 chars)

    Say hello to your move-in-ready dream home! This beautifully updated 4 bedroom, 1 bath ranch shines on a spacious corner lot, offering the perfect blend of modern upgrades and effortless comfort. The main level welcomes you with a sprawling, sun-drenched living room that flows seamlessly into the kitchen and dining areas—ideal for easy daily living and weekend entertaining. The massive lower level maximizes your space with a convenient drive-under garage, bonus non-conforming 3/4 bath, endless storage solutions, and pristine utility area. Peace of mind comes standard here, thanks to a brand-new furnace and an upgraded 100-amp electrical system.

ⓘ 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: $740 · $62/mo
• Projected year-2 tax: $1,332 · $111/mo
• Expected delta: +$592/yr (+$49/mo · 79.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥91°F today · 13 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: $14,725
• − Mortgage interest: −$6,996
• − Property taxes: −$740
• − Insurance: −$624
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$3,633
• Taxable income: $374
• Est. tax owed @ 24.0%: −$90
• After-tax cash flow: $2,318/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: West Iron County Public Schools
• NCES district ID: 2632910
• Math proficiency: 38% ▲ 2.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $33,390
• Composite: 34.54/100
• National rank: #5175
• State rank: #204 of 540 in MI

Livability — Stambaugh

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

Census & demographics

• Population (ZIP): 5,969

Population outlook (Iron County) Hauer SSP2

• Today (2025): 10,485 people
• By 2030: 9,914 · -5.4%
• By 2040: 8,698 · -17.0%
• By 2050: 7,742 · -26.2%
• By 2075: 6,485 · -38.1%
• By 2100: 5,396 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Hispanic / Latino 2% Two or more races 2% Native American 1%
• Common ancestry: Romanian 10% Lithuanian 6% Portuguese 5%
• Foreign-born: 1% · Canada, Jamaica, China
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Iron

• 2024 margin: Strong R (+29.3) · D 34.7% · R 64.0% · Other 1.2%
• 2008→2024 swing: -31.5pp toward R · 2008: 2.1pp · 2024: -29.3pp
• All cycles: 2024: R+29.3 2020: R+25.4 2016: R+28.3 2012: R+9.0 2008: D+2.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.38%
• Current HPI: 224.8101
• 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

3 events — show timeline

• 2026-05-27 Listed $124,900 UPAR
• 2026-05-26 Listed $124,900 GNMLS
• 2026-05-26 Listed $124,900 MiRealSource-MiMLS

Property tax history

+1.1%/yr

Latest (2025): $740 · -17.7% YoY. Source: county tax records.