101 W Birch St · Ironwood, MI 49938

$119,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 43 Days on market

Built 1925 5,227 sqft lot Est $91k · 32% over

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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 +27.1/30.0
• DSCR +9.4/10.0
• 1% rule +6.5/10.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-bedroom, 1- bath home with endless possibilities! The main level features a functional kitchen, formal dining room, and a comfortable living room that leads out to the front porch-perfect for relaxing. You'll also find a main-floor bedroom, currently used as a laundry space, offering flexibility to relocate the washer and dryer to the basement if desired. A convenient bonus toilet is located just off the kitchen. Upstairs offers two generously sized bedrooms, each with large double closets-plenty of storage space throughout! Outside, enjoy a spacious 3-car garage complete with heat and water, along with an additional storage shed. Conveniently located just minutes from downtown Ironwood and nearby snowmobile/ATV trails, this property offers both practicality and recreational access.

Key facts

• Functional kitchen
• Formal dining room
• Main-floor bedroom

Tags

• FUNCTIONAL KITCHEN
• FORMAL DINING ROOM
• COMFORTABLE LIVING ROOM
• FRONT PORCH
• MAIN-FLOOR BEDROOM
• BONUS TOILET

Property features AI

Finance

• Other: Property type: Residential; Lot size approx. 0.12 acre; Structure style: 1 1/2 Story; Below-grade area: 672 sq. ft. (unfinished)

Exterior

• Parking: Detached garage (3 parking spaces, approx. 34 x 26)
• Utilities: Public water; Public sanitary sewer; Spectrum internet service available; Electric water heater; Natural gas heating
• Home design: 1 1/2-story residential home; Built in 1925; 1st floor entry (main level living spaces)
• Construction: Asphalt and metal siding exterior; Michigan basement foundation; Built in 1925
• Exterior features: Front porch; Shed/outbuilding; City limits lot; Road frontage (40'); No water features

Interior

• Kitchen: Kitchen on main level (approx. 16 x 11); Range/Oven; Microwave; Refrigerator
• Bedrooms: Main-level bedroom (approx. 11 x 11); Upper-level bedroom (approx. 12 x 12); Upper-level bedroom (approx. 10 wide)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom (located on upper level)
• Heating & cooling: Forced air heating; Central A/C; Ceiling fan(s); Electric water heater; Natural gas fuel
• Interior features: Cable/Internet available; Hardwood floors; Full basement (Michigan/Basement)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $338 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 5.8% in Ironwood — 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 70/100 on livability (#325 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: health & safety C-, schools D+, amenities F.
• Ironwood Area Schools Of Gogebic County (town): math 23% / reading 40% proficiency, ranked #361 of 540 in MI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 70 active listings in the ZIP; 28 units permitted in Gogebic County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Gogebic County population projected at -24% 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 $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.15% ✓
• Cap rate: 9.68%
• Cash-on-cash: 12.10%
• DSCR: 1.54
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $90,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101 W Birch St	0.00mi	3/1.0	1,008 (0%)	1mo	$120,000	$119	99
111 E Ash St	0.07mi	3/1.0	1,105 (+10%)	1mo	$120,000	$109	80
338 E Tamarack St	0.31mi	3/1.5	1,056 (+5%)	3mo	$70,000	$66	73
217 E Oak St	0.19mi	4/1.0 (+1)	960 (-5%)	9mo	$62,900	$66	70
224 E Pine St	0.25mi	3/1.0	990 (-2%)	20mo	$110,000	$111	69
102 W Ash St	0.03mi	2/1.0 (-1)	1,142 (+13%)	6mo	$74,900	$66	66
325 Houk St	0.35mi	2/1.0 (-1)	960 (-5%)	8mo	$86,000	$90	64
119 W Oak St	0.13mi	2/1.0 (-1)	870 (-14%)	7mo	$52,510	$60	60
209 E Pine St	0.22mi	2/1.0 (-1)	912 (-10%)	16mo	$77,000	$84	55
240 E Ash St	0.19mi	3/1.0	1,144 (+14%)	17mo	$154,000	$135	55
334 W Ayer St	0.67mi	3/1.0	1,120 (+11%)	6mo	$20,000	$18	45
230 W Frederick St	0.72mi	2/1.0 (-1)	1,083 (+7%)	12mo	$139,000	$128	39

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: 1.6%
• Equity multiple: 1.06×
• Total profit: $2,105
• Equity at exit: $17,877

10-year hold

• IRR: 11.2%
• Equity multiple: 1.88×
• Total profit: $29,491
• Equity at exit: $10,367

Cash invested: $33,572 (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 49938

• Home prices YoY: -23.3%
• Active inventory: 70
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,382 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$75 /mo · $897/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $338

Break-even live

Break-even rent $954

Max offer price $119,900

Occupancy floor 71%

Sensitivity live

Price	-10% $406	-5% $372	+0% $338	+5% $305	+10% $271
Rent	-10% $229	-5% $284	+0% $338	+5% $393	+10% $448
Rate	-1.0pp $399	-0.5pp $369	base $338	+0.5pp $307	+1.0pp $276

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-04-28
   historical Keep Showing-Contgcy Appl 796-char remark

   Show marketing remark (796 chars)

   3-bedroom, 1- bath home with endless possibilities! The main level features a functional kitchen, formal dining room, and a comfortable living room that leads out to the front porch-perfect for relaxing. You'll also find a main-floor bedroom, currently used as a laundry space, offering flexibility to relocate the washer and dryer to the basement if desired. A convenient bonus toilet is located just off the kitchen. Upstairs offers two generously sized bedrooms, each with large double closets-plenty of storage space throughout! Outside, enjoy a spacious 3-car garage complete with heat and water, along with an additional storage shed. Conveniently located just minutes from downtown Ironwood and nearby snowmobile/ATV trails, this property offers both practicality and recreational access.

2. 2026-04-13
   listed $119,900 Active 796-char remark

   Show marketing remark (796 chars)

   3-bedroom, 1- bath home with endless possibilities! The main level features a functional kitchen, formal dining room, and a comfortable living room that leads out to the front porch-perfect for relaxing. You'll also find a main-floor bedroom, currently used as a laundry space, offering flexibility to relocate the washer and dryer to the basement if desired. A convenient bonus toilet is located just off the kitchen. Upstairs offers two generously sized bedrooms, each with large double closets-plenty of storage space throughout! Outside, enjoy a spacious 3-car garage complete with heat and water, along with an additional storage shed. Conveniently located just minutes from downtown Ironwood and nearby snowmobile/ATV trails, this property offers both practicality and recreational access.

3. 2026-04-13
   listed $119,900 Active 796-char remark

   Show marketing remark (796 chars)

   3-bedroom, 1- bath home with endless possibilities! The main level features a functional kitchen, formal dining room, and a comfortable living room that leads out to the front porch-perfect for relaxing. You'll also find a main-floor bedroom, currently used as a laundry space, offering flexibility to relocate the washer and dryer to the basement if desired. A convenient bonus toilet is located just off the kitchen. Upstairs offers two generously sized bedrooms, each with large double closets-plenty of storage space throughout! Outside, enjoy a spacious 3-car garage complete with heat and water, along with an additional storage shed. Conveniently located just minutes from downtown Ironwood and nearby snowmobile/ATV trails, this property offers both practicality and recreational access.

4. 2014-02-21
   historical
5. 2012-08-20
   listed $49,900

ⓘ 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: $897 · $75/mo
• Projected year-2 tax: $1,372 · $114/mo
• Expected delta: +$475/yr (+$40/mo · 52.9%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥89°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: $16,587
• − Mortgage interest: −$6,716
• − Property taxes: −$897
• − Insurance: −$600
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$3,488
• Taxable income: $2,232
• Est. tax owed @ 24.0%: −$536
• After-tax cash flow: $3,526/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: Ironwood Area Schools Of Gogebic County
• NCES district ID: 2619470
• Math proficiency: 23% ▼ -13.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $33,313
• Composite: 25.78/100
• National rank: #7369
• State rank: #361 of 540 in MI

Livability — Ironwood

• Score: 70/100
• State rank: #325
• US rank: #8024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ironwood, MI
• Population (ZIP): 7,424

Population outlook (Gogebic County) Hauer SSP2

• Today (2025): 13,951 people
• By 2030: 13,191 · -5.4%
• By 2040: 11,739 · -15.9%
• By 2050: 10,580 · -24.2%
• By 2075: 8,530 · -38.9%
• By 2100: 6,903 · -50.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Hispanic / Latino 2%
• Common ancestry: Romanian 10% Lithuanian 4% Portuguese 3%
• Foreign-born: 1%
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Gogebic

• 2024 margin: R (+17.1) · D 40.8% · R 57.9% · Other 1.2%
• 2008→2024 swing: -34.4pp toward R · 2008: 17.3pp · 2024: -17.1pp
• All cycles: 2024: R+17.1 2020: R+12.5 2016: R+15.0 2012: D+8.1 2008: D+17.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -61.86%
• Current HPI: 204.0924
• 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

+140.3% since first listed

5 events — show timeline

• 2026-04-28 Contingent — MiRealSource-MiMLS
• 2026-04-13 Listed $119,900 UPAR
• 2026-04-13 Listed $119,900 MiRealSource-MiMLS
• 2014-02-21 Listing Removed — MiRealSource-MiMLS
• 2012-08-20 Listed $49,900 MiRealSource-MiMLS

Property tax history

-1.7%/yr

Latest (2024): $897 · -3.4% YoY. Source: county tax records.