59096 US-41 Hwy · Calumet, MI 49913

$117,500

4 bd · 1.5 ba · 1,536 sqft · SingleFamily public records · 64 Days on market

Built 1910 10,018 sqft lot Est $138k · 15% under

---

Why this score? — see what drove the B- 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 +25.2/30.0
• ARV discount +14.3/15.0
• DSCR +8.3/10.0
• 1% rule +6.5/10.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This four-bedroom, two bath home in Kearsarge is conveniently located on US-41 and Mine Road close to the ball field. Though you're 'in town', there is also plenty of open space to explore right outside your door! This home has some nice woodwork that you'll appreciate. The kitchen has a countertop connected to the dining room. The bedrooms all have closets and there's a spacious linen closet in the upstairs hallway. The attached garage will make your winters more bearable. There's also a shed in the garage for you gardening tools. The downstairs half-bath and laundry facilities are right off the kitchen. The home is priced to sell! Taxes will not be zero. The information is thought to be accurate, but the buyer is responsible to confirm all information in the listing.

Key facts

• Laundry facilities
• Downstairs half bath
• 0.23 acre lot

Tags

• SPACIOUS LINEN CLOSET
• DOWNSTAIRS HALF BATH
• LAUNDRY FACILITIES

Property features AI

Finance

• Other: Property type: Residential; Lot size approximately 0.23 acres (about 65,162 sq ft reported); Roads: city/county paved, year-round; Zoning: Residential

Exterior

• Parking: Attached garage with electric in garage; Garage holds 1 car; Additional parking for 3 or more vehicles
• Utilities: Public water; Public sanitary sewer; Electricity connected with circuit breakers; Natural gas connected; Phone available; Gas water heater
• Home design: Residential 2-story home; Built in 1910; Entry faces east (side of street E); Subdivision: Kearsarge
• Construction: Wood and other exterior construction; Basement foundation (Michigan-style basement); Basement present with outside entrance and stone; Below-grade area noted (finished area not indicated)
• Exterior features: Garden area; Rural view; Rural, cleared lot; Deep lot (150+ ft.); Frontage on a road

Interior

• Kitchen: Kitchen on the first floor, approximately 12 x 12; Linoleum flooring in kitchen; Range/oven; Microwave
• Bedrooms: Four bedrooms located on the second floor; Bedroom sizes include 11 x 11, 12 x 8, 11 x 11, and one listed as W=7; Bedrooms carpeted
• Flooring: Carpet in living areas, dining room, and bedrooms; Linoleum in kitchen and bathroom(s)
• Bathrooms: Primary bathroom present; Total of 2 bathrooms/lavatories; One full bathroom; First-floor lavatory; Bathroom fixtures on first and second floors
• Heating & cooling: Forced air heating; Window air conditioning units (and no central cooling indicated); Natural gas heat and gas water heater
• Interior features: Bay window; DSL available; Window treatments; Entry; Family room; Formal dining room
• Laundry & utility: First-floor laundry; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $263 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $110k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.2% in Calumet — 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 60/100 on livability (#585 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, schools D, crime F.
• Public Schools Of Calumet Laurium & Keweenaw (town): math 37% / reading 54% proficiency, ranked #160 of 540 in MI (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 48 active listings in the ZIP; 111 units permitted in Houghton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $812 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Houghton County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $88k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,450 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.15% ✓
• Cap rate: 8.98%
• Cash-on-cash: 9.58%
• DSCR: 1.43
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $138,240
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27551 Smith Ave	0.32mi	4/1.5	1,556 (+1%)	12mo	$140,000	$90	73

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: -1.8%
• Equity multiple: 0.93×
• Total profit: $-2,289
• Equity at exit: $17,520

10-year hold

• IRR: 7.9%
• Equity multiple: 1.60×
• Total profit: $19,626
• Equity at exit: $10,159

Cash invested: $32,900 (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 49913

• Active inventory: 48
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,355 medium
• Mortgage (P&I): −$616
• Tax from tax record: −$142 /mo · $1,709/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $263

Break-even live

Break-even rent $1,022

Max offer price $117,500

Occupancy floor 76%

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-06-18
   days on market $117,500 Active 64 DOM
2. 2026-06-17
   days on market $117,500 Active 63 DOM
3. 2026-06-16
   days on market $117,500 Active 62 DOM
4. 2026-06-15
   days on market $117,500 Active 61 DOM
5. 2026-06-13
   days on market $117,500 Active 59 DOM
6. 2026-06-12
   days on market $117,500 Active 58 DOM
7. 2026-06-09
   days on market $117,500 Active 55 DOM
8. 2026-06-08
   days on market $117,500 Active 54 DOM
9. 2026-06-07
   days on market $117,500 Active 53 DOM
10. 2026-06-07
    days on market $117,500 Active 52 DOM
11. 2026-06-04
    days on market $117,500 Active 49 DOM
12. 2026-06-02
    days on market $117,500 Active 48 DOM
13. 2026-06-01
    days on market $117,500 Active 47 DOM
14. 2026-05-31
    days on market $117,500 Active 46 DOM
15. 2026-05-31
    days on market $117,500 Active 45 DOM
16. 2026-05-15
    price $117,500 779-char remark

    Show marketing remark (779 chars)

    This four-bedroom, two bath home in Kearsarge is conveniently located on US-41 and Mine Road close to the ball field. Though you're 'in town', there is also plenty of open space to explore right outside your door! This home has some nice woodwork that you'll appreciate. The kitchen has a countertop connected to the dining room. The bedrooms all have closets and there's a spacious linen closet in the upstairs hallway. The attached garage will make your winters more bearable. There's also a shed in the garage for you gardening tools. The downstairs half-bath and laundry facilities are right off the kitchen. The home is priced to sell! Taxes will not be zero. The information is thought to be accurate, but the buyer is responsible to confirm all information in the listing.

17. 2026-05-15
    price $117,500 779-char remark

    Show marketing remark (779 chars)

    This four-bedroom, two bath home in Kearsarge is conveniently located on US-41 and Mine Road close to the ball field. Though you're 'in town', there is also plenty of open space to explore right outside your door! This home has some nice woodwork that you'll appreciate. The kitchen has a countertop connected to the dining room. The bedrooms all have closets and there's a spacious linen closet in the upstairs hallway. The attached garage will make your winters more bearable. There's also a shed in the garage for you gardening tools. The downstairs half-bath and laundry facilities are right off the kitchen. The home is priced to sell! Taxes will not be zero. The information is thought to be accurate, but the buyer is responsible to confirm all information in the listing.

18. 2026-04-15
    listed $127,500 Active 779-char remark

    Show marketing remark (779 chars)

    This four-bedroom, two bath home in Kearsarge is conveniently located on US-41 and Mine Road close to the ball field. Though you're 'in town', there is also plenty of open space to explore right outside your door! This home has some nice woodwork that you'll appreciate. The kitchen has a countertop connected to the dining room. The bedrooms all have closets and there's a spacious linen closet in the upstairs hallway. The attached garage will make your winters more bearable. There's also a shed in the garage for you gardening tools. The downstairs half-bath and laundry facilities are right off the kitchen. The home is priced to sell! Taxes will not be zero. The information is thought to be accurate, but the buyer is responsible to confirm all information in the listing.

19. 2026-04-15
    listed $127,500 Active 779-char remark

    Show marketing remark (779 chars)

    This four-bedroom, two bath home in Kearsarge is conveniently located on US-41 and Mine Road close to the ball field. Though you're 'in town', there is also plenty of open space to explore right outside your door! This home has some nice woodwork that you'll appreciate. The kitchen has a countertop connected to the dining room. The bedrooms all have closets and there's a spacious linen closet in the upstairs hallway. The attached garage will make your winters more bearable. There's also a shed in the garage for you gardening tools. The downstairs half-bath and laundry facilities are right off the kitchen. The home is priced to sell! Taxes will not be zero. The information is thought to be accurate, but the buyer is responsible to confirm all information in the listing.

20. 2023-09-28
    soldstatus $88,000
21. 2023-09-27
    soldstatus $88,000 Closed 957-char remark

    Show marketing remark (957 chars)

    Motivated Seller! Located in the picturesque Keweenaw Peninsula, these 4 bedrooms, 2 full bathrooms (1 upstairs and 1 downstairs) home in Kearsarge, MI, offers a lot of potential. The attic also features a large unfinished space that could be converted by a buyer into usable finished space. The property requires some work, but the motivated seller presents an excellent opportunity for buyers looking to transform a house into exactly what they’re looking for or an investor looking for an income property with access to the snowmobile trails. Attached to the house is an oversized single-stall garage. while the spacious backyard offers ample space for various outdoor possibilities or plenty of room for expanding onto the home or building a second garage. The location still provides a great location and access to schools, shopping centers, restaurants, and recreational trails. Don't miss this chance to see this home, schedule a viewing today!

22. 2023-09-27
    soldstatus $88,000 Closed 957-char remark

    Show marketing remark (957 chars)

    Motivated Seller! Located in the picturesque Keweenaw Peninsula, these 4 bedrooms, 2 full bathrooms (1 upstairs and 1 downstairs) home in Kearsarge, MI, offers a lot of potential. The attic also features a large unfinished space that could be converted by a buyer into usable finished space. The property requires some work, but the motivated seller presents an excellent opportunity for buyers looking to transform a house into exactly what they’re looking for or an investor looking for an income property with access to the snowmobile trails. Attached to the house is an oversized single-stall garage. while the spacious backyard offers ample space for various outdoor possibilities or plenty of room for expanding onto the home or building a second garage. The location still provides a great location and access to schools, shopping centers, restaurants, and recreational trails. Don't miss this chance to see this home, schedule a viewing today!

23. 2023-08-11
    status Active 957-char remark

    Show marketing remark (957 chars)

    Motivated Seller! Located in the picturesque Keweenaw Peninsula, these 4 bedrooms, 2 full bathrooms (1 upstairs and 1 downstairs) home in Kearsarge, MI, offers a lot of potential. The attic also features a large unfinished space that could be converted by a buyer into usable finished space. The property requires some work, but the motivated seller presents an excellent opportunity for buyers looking to transform a house into exactly what they’re looking for or an investor looking for an income property with access to the snowmobile trails. Attached to the house is an oversized single-stall garage. while the spacious backyard offers ample space for various outdoor possibilities or plenty of room for expanding onto the home or building a second garage. The location still provides a great location and access to schools, shopping centers, restaurants, and recreational trails. Don't miss this chance to see this home, schedule a viewing today!

24. 2023-08-11
    historical Keep Showing-Contgcy Appl 957-char remark

    Show marketing remark (957 chars)

    Motivated Seller! Located in the picturesque Keweenaw Peninsula, these 4 bedrooms, 2 full bathrooms (1 upstairs and 1 downstairs) home in Kearsarge, MI, offers a lot of potential. The attic also features a large unfinished space that could be converted by a buyer into usable finished space. The property requires some work, but the motivated seller presents an excellent opportunity for buyers looking to transform a house into exactly what they’re looking for or an investor looking for an income property with access to the snowmobile trails. Attached to the house is an oversized single-stall garage. while the spacious backyard offers ample space for various outdoor possibilities or plenty of room for expanding onto the home or building a second garage. The location still provides a great location and access to schools, shopping centers, restaurants, and recreational trails. Don't miss this chance to see this home, schedule a viewing today!

25. 2023-08-01
    historical 957-char remark

    Show marketing remark (957 chars)

    Motivated Seller! Located in the picturesque Keweenaw Peninsula, these 4 bedrooms, 2 full bathrooms (1 upstairs and 1 downstairs) home in Kearsarge, MI, offers a lot of potential. The attic also features a large unfinished space that could be converted by a buyer into usable finished space. The property requires some work, but the motivated seller presents an excellent opportunity for buyers looking to transform a house into exactly what they’re looking for or an investor looking for an income property with access to the snowmobile trails. Attached to the house is an oversized single-stall garage. while the spacious backyard offers ample space for various outdoor possibilities or plenty of room for expanding onto the home or building a second garage. The location still provides a great location and access to schools, shopping centers, restaurants, and recreational trails. Don't miss this chance to see this home, schedule a viewing today!

26. 2023-07-26
    listed $84,900 Active 957-char remark

    Show marketing remark (957 chars)

    Motivated Seller! Located in the picturesque Keweenaw Peninsula, these 4 bedrooms, 2 full bathrooms (1 upstairs and 1 downstairs) home in Kearsarge, MI, offers a lot of potential. The attic also features a large unfinished space that could be converted by a buyer into usable finished space. The property requires some work, but the motivated seller presents an excellent opportunity for buyers looking to transform a house into exactly what they’re looking for or an investor looking for an income property with access to the snowmobile trails. Attached to the house is an oversized single-stall garage. while the spacious backyard offers ample space for various outdoor possibilities or plenty of room for expanding onto the home or building a second garage. The location still provides a great location and access to schools, shopping centers, restaurants, and recreational trails. Don't miss this chance to see this home, schedule a viewing today!

27. 2023-07-26
    listed $84,900 Active 957-char remark

    Show marketing remark (957 chars)

    Motivated Seller! Located in the picturesque Keweenaw Peninsula, these 4 bedrooms, 2 full bathrooms (1 upstairs and 1 downstairs) home in Kearsarge, MI, offers a lot of potential. The attic also features a large unfinished space that could be converted by a buyer into usable finished space. The property requires some work, but the motivated seller presents an excellent opportunity for buyers looking to transform a house into exactly what they’re looking for or an investor looking for an income property with access to the snowmobile trails. Attached to the house is an oversized single-stall garage. while the spacious backyard offers ample space for various outdoor possibilities or plenty of room for expanding onto the home or building a second garage. The location still provides a great location and access to schools, shopping centers, restaurants, and recreational trails. Don't miss this chance to see this home, schedule a viewing today!

28. 2019-09-30
    soldstatus $35,000

ⓘ 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: $1,709 · $142/mo
• Projected year-2 tax: $1,759 · $147/mo
• Expected delta: +$50/yr (+$4/mo · 2.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥89°F today · 11 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: $16,257
• − Mortgage interest: −$6,582
• − Property taxes: −$1,709
• − Insurance: −$588
• − Repairs & maintenance: −$1,301
• − Management: −$1,301
• − Depreciation: −$3,418
• Taxable income: $1,360
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $2,826/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: Public Schools Of Calumet Laurium & Keweenaw
• NCES district ID: 2607690
• Math proficiency: 37% ▼ -7.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $34,585
• Composite: 37.51/100
• National rank: #4398
• State rank: #160 of 540 in MI

Livability — Calumet

• Score: 60/100
• State rank: #585
• US rank: #18953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,483

Population outlook (Houghton County) Hauer SSP2

• Today (2025): 35,073 people
• By 2030: 34,645 · -1.2%
• By 2040: 33,248 · -5.2%
• By 2050: 31,625 · -9.8%
• By 2075: 28,105 · -19.9%
• By 2100: 23,274 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Iranian 4% Romanian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Chinese 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Houghton

• 2024 margin: R (+17.0) · D 40.7% · R 57.7% · Other 1.6%
• 2008→2024 swing: -13.1pp toward R · 2008: -3.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+14.2 2016: R+15.7 2012: R+10.2 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.04%
• Current HPI: 131.8527
• 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

+235.7% since first listed

13 events — show timeline

• 2026-05-15 Price Changed $117,500 MiRealSource-MiMLS
• 2026-05-15 Price Changed $117,500 UPAR
• 2026-04-15 Listed $127,500 UPAR
• 2026-04-15 Listed $127,500 MiRealSource-MiMLS
• 2023-09-28 Sold (Public Records) $88,000 Public Records
• 2023-09-27 Sold (MLS) $88,000 MiRealSource-MiMLS
• 2023-09-27 Sold (MLS) $88,000 UPAR
• 2023-08-11 Relisted — UPAR
• 2023-08-11 Contingent — MiRealSource-MiMLS
• 2023-08-01 Delisted — UPAR
• 2023-07-26 Listed $84,900 MiRealSource-MiMLS
• 2023-07-26 Listed $84,900 UPAR
• 2019-09-30 Sold (Public Records) $35,000 Public Records

Property tax history

+14.2%/yr

Latest (2025): $1,709 · +6.2% YoY. Source: county tax records.