1019 N Eighth Ave · Iron River, MI 49935

$88,500

3 bd · 1.0 ba · 1,290 sqft · SingleFamily · 122 Days on market

Built 1900 7,405 sqft lot $69/sqft · 34% above area Est $66k · 34% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• 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

Location, location, location! This quaint home is perfectly situated near town parks and scenic rivers, making it ideal for outdoor enthusiasts. Enjoy easy access to walking trails, playgrounds, and orv recreation while still being close to everyday conveniences. Comfortable living in a setting that lets you truly enjoy the best of the area.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1900

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $88k.

Deal economics

• At list price, monthly cash flow is $337 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $88k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 5.6% in Iron River — 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 73/100 on livability (#206 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, amenities F, commute F.
• 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 $612 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 122 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $34k; list at $88k implies a 160% 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 $77,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 122 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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. 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.
7. 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.
8. 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: 1.32% ✓
• Cap rate: 10.86%
• Cash-on-cash: 16.32%
• DSCR: 1.73
• GRM: 6.3

CMA / ARV

• ARV (median comp): $65,979
• List price: $88,500
• Delta: 34.13%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
739 N Sixth Ave	0.22mi	3/1.0	1,300 (+1%)	10mo	$100,000	$77	80
422 W Minckler St	0.32mi	3/1.0	1,320 (+2%)	9mo	$121,000	$92	74
729 W Maple St	0.51mi	3/2.0	1,248 (-3%)	2mo	$163,500	$131	65
714 N 7th Ave	0.22mi	4/1.0 (+1)	1,417 (+10%)	6mo	$52,500	$37	63
628 N 7th Ave	0.27mi	3/1.0	1,103 (-14%)	1mo	$34,000	$31	62
707 N 6th Ave	0.24mi	3/2.0	1,409 (+9%)	9mo	$120,000	$85	62
1217 N River Ave	0.47mi	3/1.0	1,406 (+9%)	6mo	$88,500	$63	58
1211 N Second Ave	0.36mi	4/1.5 (+1)	1,170 (-9%)	13mo	$45,000	$38	50
14 N Seventh Ave	0.71mi	3/1.0	1,350 (+5%)	12mo	$85,000	$63	50
1113 N River Ave	0.46mi	4/1.5 (+1)	1,152 (-11%)	5mo	$60,000	$52	49
201 N 9th Ave	0.56mi	2/2.0 (-1)	1,150 (-11%)	3mo	$10,000	$9	44
222 N 10th Ave	0.54mi	4/2.0 (+1)	1,430 (+11%)	9mo	$239,900	$168	40

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: 7.4%
• Equity multiple: 1.29×
• Total profit: $7,128
• Equity at exit: $13,196

10-year hold

• IRR: 16.7%
• Equity multiple: 2.37×
• Total profit: $33,850
• Equity at exit: $7,652

Cash invested: $24,780 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,164 medium
• Mortgage (P&I): −$464
• Tax from tax record: −$82 /mo · $981/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $337

Break-even live

Break-even rent $738

Max offer price $88,500

Occupancy floor 66%

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: $22,125
• Closing costs: $2,655
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $88,500 Active 122 DOM
2. 2026-06-17
   days on market $88,500 Active 121 DOM
3. 2026-06-16
   days on market $88,500 Active 120 DOM
4. 2026-06-15
   days on market $88,500 Active 119 DOM
5. 2026-06-13
   days on market $88,500 Active 117 DOM
6. 2026-06-12
   days on market $88,500 Active 116 DOM
7. 2026-06-09
   days on market $88,500 Active 113 DOM
8. 2026-06-08
   days on market $88,500 Active 112 DOM
9. 2026-06-07
   days on market $88,500 Active 111 DOM
10. 2026-06-07
    days on market $88,500 Active 110 DOM
11. 2026-06-04
    days on market $88,500 Active 107 DOM
12. 2026-06-02
    days on market $88,500 Active 106 DOM
13. 2026-06-01
    days on market $88,500 Active 105 DOM
14. 2026-05-31
    days on market $88,500 Active 104 DOM
15. 2026-05-31
    days on market $88,500 Active 103 DOM
16. 2026-02-12
    listed $88,500 Active 343-char remark

    Show marketing remark (343 chars)

    Location, location, location! This quaint home is perfectly situated near town parks and scenic rivers, making it ideal for outdoor enthusiasts. Enjoy easy access to walking trails, playgrounds, and orv recreation while still being close to everyday conveniences. Comfortable living in a setting that lets you truly enjoy the best of the area.

17. 2026-02-12
    listed $88,500 Active 343-char remark

    Show marketing remark (343 chars)

    Location, location, location! This quaint home is perfectly situated near town parks and scenic rivers, making it ideal for outdoor enthusiasts. Enjoy easy access to walking trails, playgrounds, and orv recreation while still being close to everyday conveniences. Comfortable living in a setting that lets you truly enjoy the best of the area.

18. 2018-01-12
    historical
19. 2017-01-11
    listed $35,000
20. 2006-05-25
    soldstatus $34,000

ⓘ 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: $981 · $82/mo
• Projected year-2 tax: $1,172 · $98/mo
• Expected delta: +$191/yr (+$16/mo · 19.5%)

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

Taxation est. · year 1

• Rental income: $13,972
• − Mortgage interest: −$4,957
• − Property taxes: −$981
• − Insurance: −$442
• − Repairs & maintenance: −$1,118
• − Management: −$1,118
• − Depreciation: −$2,575
• Taxable income: $2,781
• Est. tax owed @ 24.0%: −$667
• After-tax cash flow: $3,378/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 — Iron River

• Score: 73/100
• State rank: #206
• US rank: #5207

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iron River, MI
• 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

+160.3% since first listed

5 events — show timeline

• 2026-02-12 Listed $88,500 MiRealSource-MiMLS
• 2026-02-12 Listed $88,500 UPAR
• 2018-01-12 Listing Removed — MiRealSource-MiMLS
• 2017-01-11 Listed $35,000 MiRealSource-MiMLS
• 2006-05-25 Sold (Public Records) $34,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $981 · -11.8% YoY. Source: county tax records.