5281 E Sunset Rd · Ironwood, MI 49938

$149,900

3 bd · 1.0 ba · 1,036 sqft · SingleFamily · 101 Days on market

Built 1949 0.54 ac lot ↓ 3% since listing

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Why this score? — see what drove the D 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 +15.4/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• 1% rule +4.2/10.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Sweet and cozy 3 bedroom, 1 bath home with some great updates. Nice Hickory flooring throughout the main level. Free standing wood stove in the living room to stifle the chill on the long winter nights. Slate Tiled entryway. Kitchen has tiled backsplash and beautiful marble countertops, with a little butler room nook off the kitchen. Updated bathroom with a barn door for a country touch. Nice new deck out the back door to enjoy the view of your half acre fenced in yard. Upstairs you will find 3 bedrooms or one would make a great office space or hobby room. Downstairs there is another finished 10 x 14 room that would make a great den, hang out, or guest quarters. Several out buildings including a wood shed. Yard has some new young maple and oak and fruit tress that will be sure to be pleasing in years to come. Great starter home or Northwoods getaway. Make your appointment today!

Key facts

• Slate tiled entryway
• Butler room nook
• Marble countertops

Tags

• HICKORY FLOORING
• FREE STANDING WOOD STOVE
• SLATE TILED ENTRYWAY
• TILED BACKSPLASH
• MARBLE COUNTERTOPS
• BUTLER ROOM NOOK

Property features AI

Finance

• Other: Property type: Residential; Acreage: approximately 0.54 acres; Frontage: approximately 60 feet; Zoning: Residential

Exterior

• Parking: Detached garage (1 garage parking space); Driveway parking for 3 or more vehicles
• Utilities: Public water; Public sanitary sewer; Natural gas connected; Electricity connected; Cable connected; Internet (Spectrum)
• Home design: Residential 1 1/2-story home; Built in 1949; Below-grade finished space (approx. 140) and additional below-grade area (approx. 616)
• Construction: Basement foundation; Poured foundation
• Exterior features: Vinyl siding; Asphalt (exterior material/roofing indicated); Deck; Patio; Garden area; Fence (owned and neighboring); Shed and additional outbuilding; Covered entrance; Road frontage

Interior

• Kitchen: Kitchen on main level (approximately 12 x 9); Range/oven; Refrigerator
• Bedrooms: Three bedrooms (all on the upper level) — Bedroom 1: 12 x 11, wood floors; Bedroom 2: 12 x 8, wood floors; Bedroom 3: width 7, carpet
• Flooring: Wood flooring in dining room, kitchen, living room, and primary bedrooms; Carpet in one bedroom; Slate in bonus/media and other rooms; Ceramic flooring present
• Bathrooms: One full bathroom on the main floor (approximately 6 x 5)
• Heating & cooling: Forced air heating (natural gas); Supplemental heat: wood; Central A/C; 200+ amp electric service with circuit breakers
• Interior features: Ceramic floors; Hardwood floors; Entry; Living room; Pantry; Partially finished basement; poured foundation; unfinished areas
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $57 ($688/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 $138k (7.7% below list).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.

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-, amenities F, commute 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.
• Zoned schools: Gogebic Co Community Education (28 students, 79% FRL) — zoned schools average 79% FRL vs 49% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $1k 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.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y 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 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 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 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.92% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.64%
• DSCR: 1.07
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $98,420
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
E5306 Sunset Rd	0.07mi	3/1.0	891 (-14%)	12mo	$64,900	$73	64
E5091 Sunset Rd	0.43mi	2/1.0 (-1)	1,125 (+9%)	8mo	$107,000	$95	53
E5200 Sunset Rd	0.17mi	3/1.0	917 (-12%)	23mo	$40,000	$44	53
N10711 Lake Rd	0.61mi	2/1.5 (-1)	1,049 (+1%)	16mo	$350,000	$334	49

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: -13.7%
• Equity multiple: 0.51×
• Total profit: $-20,619
• Equity at exit: $22,351

10-year hold

• IRR: -4.8%
• Equity multiple: 0.69×
• Total profit: $-13,169
• Equity at exit: $12,961

Cash invested: $41,972 (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 49938

• Home prices YoY: -23.3%
• Active inventory: 70
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,384 medium
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $57

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 91%

Sensitivity live

Price	-10% $161	-5% $109	+0% $57	+5% $6	+10% $-46
Rent	-10% $-52	-5% $3	+0% $57	+5% $112	+10% $167
Rate	-1.0pp $133	-0.5pp $95	base $57	+0.5pp $18	+1.0pp $-21

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $149,900 Active 101 DOM
2. 2026-06-21
   days on market $149,900 Active 100 DOM
3. 2026-06-18
   days on market $149,900 Active 98 DOM
4. 2026-06-17
   days on market $149,900 Active 97 DOM
5. 2026-06-16
   days on market $149,900 Active 96 DOM
6. 2026-06-15
   days on market $149,900 Active 95 DOM
7. 2026-06-13
   days on market $149,900 Active 93 DOM
8. 2026-06-12
   days on market $149,900 Active 92 DOM
9. 2026-06-09
   days on market $149,900 Active 89 DOM
10. 2026-06-08
    days on market $149,900 Active 88 DOM
11. 2026-06-07
    days on market $149,900 Active 87 DOM
12. 2026-06-07
    days on market $149,900 Active 86 DOM
13. 2026-06-04
    days on market $149,900 Active 83 DOM
14. 2026-06-02
    days on market $149,900 Active 82 DOM
15. 2026-06-01
    status $149,900 Active 81 DOM
16. 2026-06-01
    days on market $149,900 Keep Showing-Contgcy Appl 81 DOM
17. 2026-05-31
    days on market $149,900 Keep Showing-Contgcy Appl 80 DOM
18. 2026-05-31
    days on market $149,900 Keep Showing-Contgcy Appl 79 DOM
19. 2026-04-19
    historical Active Under Contract 891-char remark

    Show marketing remark (891 chars)

    Sweet and cozy 3 bedroom, 1 bath home with some great updates. Nice Hickory flooring throughout the main level. Free standing wood stove in the living room to stifle the chill on the long winter nights. Slate Tiled entryway. Kitchen has tiled backsplash and beautiful marble countertops, with a little butler room nook off the kitchen. Updated bathroom with a barn door for a country touch. Nice new deck out the back door to enjoy the view of your half acre fenced in yard. Upstairs you will find 3 bedrooms or one would make a great office space or hobby room. Downstairs there is another finished 10 x 14 room that would make a great den, hang out, or guest quarters. Several out buildings including a wood shed. Yard has some new young maple and oak and fruit tress that will be sure to be pleasing in years to come. Great starter home or Northwoods getaway. Make your appointment today!

20. 2026-04-19
    historical Keep Showing-Contgcy Appl 891-char remark

    Show marketing remark (891 chars)

    Sweet and cozy 3 bedroom, 1 bath home with some great updates. Nice Hickory flooring throughout the main level. Free standing wood stove in the living room to stifle the chill on the long winter nights. Slate Tiled entryway. Kitchen has tiled backsplash and beautiful marble countertops, with a little butler room nook off the kitchen. Updated bathroom with a barn door for a country touch. Nice new deck out the back door to enjoy the view of your half acre fenced in yard. Upstairs you will find 3 bedrooms or one would make a great office space or hobby room. Downstairs there is another finished 10 x 14 room that would make a great den, hang out, or guest quarters. Several out buildings including a wood shed. Yard has some new young maple and oak and fruit tress that will be sure to be pleasing in years to come. Great starter home or Northwoods getaway. Make your appointment today!

21. 2026-04-14
    status Active 891-char remark

    Show marketing remark (891 chars)

    Sweet and cozy 3 bedroom, 1 bath home with some great updates. Nice Hickory flooring throughout the main level. Free standing wood stove in the living room to stifle the chill on the long winter nights. Slate Tiled entryway. Kitchen has tiled backsplash and beautiful marble countertops, with a little butler room nook off the kitchen. Updated bathroom with a barn door for a country touch. Nice new deck out the back door to enjoy the view of your half acre fenced in yard. Upstairs you will find 3 bedrooms or one would make a great office space or hobby room. Downstairs there is another finished 10 x 14 room that would make a great den, hang out, or guest quarters. Several out buildings including a wood shed. Yard has some new young maple and oak and fruit tress that will be sure to be pleasing in years to come. Great starter home or Northwoods getaway. Make your appointment today!

22. 2026-04-13
    status Active 891-char remark

    Show marketing remark (891 chars)

    Sweet and cozy 3 bedroom, 1 bath home with some great updates. Nice Hickory flooring throughout the main level. Free standing wood stove in the living room to stifle the chill on the long winter nights. Slate Tiled entryway. Kitchen has tiled backsplash and beautiful marble countertops, with a little butler room nook off the kitchen. Updated bathroom with a barn door for a country touch. Nice new deck out the back door to enjoy the view of your half acre fenced in yard. Upstairs you will find 3 bedrooms or one would make a great office space or hobby room. Downstairs there is another finished 10 x 14 room that would make a great den, hang out, or guest quarters. Several out buildings including a wood shed. Yard has some new young maple and oak and fruit tress that will be sure to be pleasing in years to come. Great starter home or Northwoods getaway. Make your appointment today!

23. 2026-04-06
    historical Active Under Contract 891-char remark

    Show marketing remark (891 chars)

    Sweet and cozy 3 bedroom, 1 bath home with some great updates. Nice Hickory flooring throughout the main level. Free standing wood stove in the living room to stifle the chill on the long winter nights. Slate Tiled entryway. Kitchen has tiled backsplash and beautiful marble countertops, with a little butler room nook off the kitchen. Updated bathroom with a barn door for a country touch. Nice new deck out the back door to enjoy the view of your half acre fenced in yard. Upstairs you will find 3 bedrooms or one would make a great office space or hobby room. Downstairs there is another finished 10 x 14 room that would make a great den, hang out, or guest quarters. Several out buildings including a wood shed. Yard has some new young maple and oak and fruit tress that will be sure to be pleasing in years to come. Great starter home or Northwoods getaway. Make your appointment today!

24. 2026-04-06
    historical Keep Showing-Contgcy Appl 891-char remark

    Show marketing remark (891 chars)

    Sweet and cozy 3 bedroom, 1 bath home with some great updates. Nice Hickory flooring throughout the main level. Free standing wood stove in the living room to stifle the chill on the long winter nights. Slate Tiled entryway. Kitchen has tiled backsplash and beautiful marble countertops, with a little butler room nook off the kitchen. Updated bathroom with a barn door for a country touch. Nice new deck out the back door to enjoy the view of your half acre fenced in yard. Upstairs you will find 3 bedrooms or one would make a great office space or hobby room. Downstairs there is another finished 10 x 14 room that would make a great den, hang out, or guest quarters. Several out buildings including a wood shed. Yard has some new young maple and oak and fruit tress that will be sure to be pleasing in years to come. Great starter home or Northwoods getaway. Make your appointment today!

25. 2026-03-12
    listed $149,900 Active 891-char remark

    Show marketing remark (891 chars)

    Sweet and cozy 3 bedroom, 1 bath home with some great updates. Nice Hickory flooring throughout the main level. Free standing wood stove in the living room to stifle the chill on the long winter nights. Slate Tiled entryway. Kitchen has tiled backsplash and beautiful marble countertops, with a little butler room nook off the kitchen. Updated bathroom with a barn door for a country touch. Nice new deck out the back door to enjoy the view of your half acre fenced in yard. Upstairs you will find 3 bedrooms or one would make a great office space or hobby room. Downstairs there is another finished 10 x 14 room that would make a great den, hang out, or guest quarters. Several out buildings including a wood shed. Yard has some new young maple and oak and fruit tress that will be sure to be pleasing in years to come. Great starter home or Northwoods getaway. Make your appointment today!

26. 2026-03-12
    listed $149,900 Active 891-char remark

    Show marketing remark (891 chars)

    Sweet and cozy 3 bedroom, 1 bath home with some great updates. Nice Hickory flooring throughout the main level. Free standing wood stove in the living room to stifle the chill on the long winter nights. Slate Tiled entryway. Kitchen has tiled backsplash and beautiful marble countertops, with a little butler room nook off the kitchen. Updated bathroom with a barn door for a country touch. Nice new deck out the back door to enjoy the view of your half acre fenced in yard. Upstairs you will find 3 bedrooms or one would make a great office space or hobby room. Downstairs there is another finished 10 x 14 room that would make a great den, hang out, or guest quarters. Several out buildings including a wood shed. Yard has some new young maple and oak and fruit tress that will be sure to be pleasing in years to come. Great starter home or Northwoods getaway. Make your appointment today!

27. 2026-03-12
    listed $149,900 Active 891-char remark

    Show marketing remark (891 chars)

    Sweet and cozy 3 bedroom, 1 bath home with some great updates. Nice Hickory flooring throughout the main level. Free standing wood stove in the living room to stifle the chill on the long winter nights. Slate Tiled entryway. Kitchen has tiled backsplash and beautiful marble countertops, with a little butler room nook off the kitchen. Updated bathroom with a barn door for a country touch. Nice new deck out the back door to enjoy the view of your half acre fenced in yard. Upstairs you will find 3 bedrooms or one would make a great office space or hobby room. Downstairs there is another finished 10 x 14 room that would make a great den, hang out, or guest quarters. Several out buildings including a wood shed. Yard has some new young maple and oak and fruit tress that will be sure to be pleasing in years to come. Great starter home or Northwoods getaway. Make your appointment today!

28. 2025-05-08
    historical
29. 2025-04-25
    price $149,900
30. 2025-04-25
    price $149,900
31. 2025-04-25
    price $149,900
32. 2024-11-07
    listed $155,000 Active
33. 2024-11-07
    listed $155,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $16,606
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,328
• − Management: −$1,328
• − Depreciation: −$4,361
• Taxable loss: −$1,806
• Est. tax savings @ 24.0%: +$433
• After-tax cash flow: $1,121/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

• 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

-3.3% since first listed

15 events — show timeline

• 2026-04-19 Contingent — GNMLS
• 2026-04-19 Contingent — MiRealSource-MiMLS
• 2026-04-14 Relisted — GNMLS
• 2026-04-13 Relisted — MiRealSource-MiMLS
• 2026-04-06 Contingent — GNMLS
• 2026-04-06 Contingent — MiRealSource-MiMLS
• 2026-03-12 Listed $149,900 UPAR
• 2026-03-12 Listed $149,900 MiRealSource-MiMLS
• 2026-03-12 Listed $149,900 GNMLS
• 2025-05-08 Listing Removed — MiRealSource-MiMLS
• 2025-04-25 Price Changed $149,900 MiRealSource-MiMLS
• 2025-04-25 Price Changed $149,900 UPAR
• 2025-04-25 Price Changed $149,900 GNMLS
• 2024-11-07 Listed $155,000 GNMLS
• 2024-11-07 Listed $155,000 MiRealSource-MiMLS