449 S Iron Pin Trl · Forsyth, MI 49841

$59,900

1 bd · 1.0 ba · 720 sqft · SingleFamily public records · 154 Days on market

Built 1960 0.52 ac lot ↓ 9% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Secluded, off-grid camp located off Iron Pin Trail in Gwinn with scenic views and Escanaba River frontage, situated on approximately half an acre. This peaceful retreat offers the perfect setting to enjoy everything the Upper Peninsula has to offer; hunting, fishing, kayaking, hiking and quiet weekends surrounded by nature. Only a few miles from public access to large inland lakes, thousands of acres of state land nearby for hunting and about 25 miles from Lake Superior. The camp features a wood cook stove and wood heat. There is electrical wiring already started in preparation for a generator connection. While the interior needs finishing this property provides an excellent opportunity to customize your own off-grid getaway and truly live with the land. Secluded and private yet conveniently located with quick and easy access to town for supplies and necessities. A great opportunity for those seeking a simple, rural escape with river frontage and beautiful natural surroundings.

Key facts

• Wood heat
• Electrical wiring
• Wood cook stove

Tags

• SCENIC VIEWS
• ESCANABA RIVER FRONTAGE
• WOOD COOK STOVE
• WOOD HEAT
• ELECTRICAL WIRING
• PRIVATE ACCESS TO TOWN

Property features AI

Finance

• Other: Rural, seasonal road access; Shoreline: mixed; Subdivision: none

Exterior

• Parking: 3 or more parking spaces
• Utilities: No utilities listed to the property; No heating, cooling, or water heater indicated; No water or sewer to property (septic/water not to property)
• Home design: 1-story residential home; Built in 1960; On waterfront (Escanaba River), 75 ft. frontage
• Construction: Crawl foundation
• Exterior features: Hard board exterior; Large, treed, unpaved lot; River view and water frontage with lake/river privileges

Interior

• Kitchen: Range/Oven; Kitchen on first floor (12 x 12) with wood flooring
• Bedrooms: First-floor bedroom (12 x 12) with wood flooring
• Flooring: Wood floors throughout main living areas
• Interior features: Hardwood floors; Wood-burning fireplace (wood stove)
• Laundry & utility: Basement: block crawl/partial basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($817 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Gwinn Area Community Schools (rural): math 16% / reading 30% proficiency, ranked #439 of 540 in MI (top 81%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Gwinn Middlehigh School (math 16% / reading 35%, grade F, #475 of 713 statewide, top 67%, 498 students, 58% FRL) — zoned schools at 58% FRL track the district average.
• Market conditions: 61 active listings in the ZIP; 91 units permitted in Marquette County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Marquette County population projected to shrink 3% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 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 1960 — 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. 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: 1.36% ✓
• Cap rate: 12.10%
• Cash-on-cash: 20.74%
• DSCR: 1.92
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $211,680
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
490 Iron Pin Trl	0.62mi	1/0.5	680 (-6%)	8mo	$200,000	$294	53

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: 13.1%
• Equity multiple: 1.52×
• Total profit: $8,735
• Equity at exit: $8,931

10-year hold

• IRR: 21.9%
• Equity multiple: 2.87×
• Total profit: $31,286
• Equity at exit: $5,179

Cash invested: $16,772 (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 49841

• Home prices YoY: -29.0%
• Active inventory: 61
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $817 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$16 /mo · $195/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$172
• Net cashflow: $290

Break-even live

Break-even rent $450

Max offer price $59,900

Occupancy floor 60%

Sensitivity live

Price	-10% $324	-5% $307	+0% $290	+5% $273	+10% $256
Rent	-10% $225	-5% $258	+0% $290	+5% $322	+10% $354
Rate	-1.0pp $320	-0.5pp $305	base $290	+0.5pp $274	+1.0pp $259

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $59,900 Active 154 DOM
2. 2026-06-19
   days on market $59,900 Active 152 DOM
3. 2026-06-18
   days on market $59,900 Active 151 DOM
4. 2026-06-17
   days on market $59,900 Active 150 DOM
5. 2026-06-16
   days on market $59,900 Active 149 DOM
6. 2026-06-15
   days on market $59,900 Active 148 DOM
7. 2026-06-14
   days on market $59,900 Active 146 DOM
8. 2026-06-12
   days on market $59,900 Active 145 DOM
9. 2026-06-09
   days on market $59,900 Active 142 DOM
10. 2026-06-08
    statusdays on market $59,900 Active 141 DOM
11. 2026-06-07
    days on market $59,900 Back on Market 140 DOM
12. 2026-06-05
    days on market $59,900 Back on Market 137 DOM
13. 2026-06-02
    days on market $59,900 Back on Market 135 DOM
14. 2026-06-01
    status $59,900 Back on Market 134 DOM
15. 2026-04-30
    status Pending 992-char remark

    Show marketing remark (992 chars)

    Secluded, off-grid camp located off Iron Pin Trail in Gwinn with scenic views and Escanaba River frontage, situated on approximately half an acre. This peaceful retreat offers the perfect setting to enjoy everything the Upper Peninsula has to offer; hunting, fishing, kayaking, hiking and quiet weekends surrounded by nature. Only a few miles from public access to large inland lakes, thousands of acres of state land nearby for hunting and about 25 miles from Lake Superior. The camp features a wood cook stove and wood heat. There is electrical wiring already started in preparation for a generator connection. While the interior needs finishing this property provides an excellent opportunity to customize your own off-grid getaway and truly live with the land. Secluded and private yet conveniently located with quick and easy access to town for supplies and necessities. A great opportunity for those seeking a simple, rural escape with river frontage and beautiful natural surroundings.

16. 2026-04-30
    status Pending 992-char remark

    Show marketing remark (992 chars)

    Secluded, off-grid camp located off Iron Pin Trail in Gwinn with scenic views and Escanaba River frontage, situated on approximately half an acre. This peaceful retreat offers the perfect setting to enjoy everything the Upper Peninsula has to offer; hunting, fishing, kayaking, hiking and quiet weekends surrounded by nature. Only a few miles from public access to large inland lakes, thousands of acres of state land nearby for hunting and about 25 miles from Lake Superior. The camp features a wood cook stove and wood heat. There is electrical wiring already started in preparation for a generator connection. While the interior needs finishing this property provides an excellent opportunity to customize your own off-grid getaway and truly live with the land. Secluded and private yet conveniently located with quick and easy access to town for supplies and necessities. A great opportunity for those seeking a simple, rural escape with river frontage and beautiful natural surroundings.

17. 2026-04-28
    price $59,900 992-char remark

    Show marketing remark (992 chars)

    Secluded, off-grid camp located off Iron Pin Trail in Gwinn with scenic views and Escanaba River frontage, situated on approximately half an acre. This peaceful retreat offers the perfect setting to enjoy everything the Upper Peninsula has to offer; hunting, fishing, kayaking, hiking and quiet weekends surrounded by nature. Only a few miles from public access to large inland lakes, thousands of acres of state land nearby for hunting and about 25 miles from Lake Superior. The camp features a wood cook stove and wood heat. There is electrical wiring already started in preparation for a generator connection. While the interior needs finishing this property provides an excellent opportunity to customize your own off-grid getaway and truly live with the land. Secluded and private yet conveniently located with quick and easy access to town for supplies and necessities. A great opportunity for those seeking a simple, rural escape with river frontage and beautiful natural surroundings.

18. 2026-04-27
    price $59,900 992-char remark

    Show marketing remark (992 chars)

    Secluded, off-grid camp located off Iron Pin Trail in Gwinn with scenic views and Escanaba River frontage, situated on approximately half an acre. This peaceful retreat offers the perfect setting to enjoy everything the Upper Peninsula has to offer; hunting, fishing, kayaking, hiking and quiet weekends surrounded by nature. Only a few miles from public access to large inland lakes, thousands of acres of state land nearby for hunting and about 25 miles from Lake Superior. The camp features a wood cook stove and wood heat. There is electrical wiring already started in preparation for a generator connection. While the interior needs finishing this property provides an excellent opportunity to customize your own off-grid getaway and truly live with the land. Secluded and private yet conveniently located with quick and easy access to town for supplies and necessities. A great opportunity for those seeking a simple, rural escape with river frontage and beautiful natural surroundings.

19. 2025-12-16
    listed $65,900 Active 992-char remark

    Show marketing remark (992 chars)

    Secluded, off-grid camp located off Iron Pin Trail in Gwinn with scenic views and Escanaba River frontage, situated on approximately half an acre. This peaceful retreat offers the perfect setting to enjoy everything the Upper Peninsula has to offer; hunting, fishing, kayaking, hiking and quiet weekends surrounded by nature. Only a few miles from public access to large inland lakes, thousands of acres of state land nearby for hunting and about 25 miles from Lake Superior. The camp features a wood cook stove and wood heat. There is electrical wiring already started in preparation for a generator connection. While the interior needs finishing this property provides an excellent opportunity to customize your own off-grid getaway and truly live with the land. Secluded and private yet conveniently located with quick and easy access to town for supplies and necessities. A great opportunity for those seeking a simple, rural escape with river frontage and beautiful natural surroundings.

20. 2025-12-16
    listed $65,900 Active 992-char remark

    Show marketing remark (992 chars)

    Secluded, off-grid camp located off Iron Pin Trail in Gwinn with scenic views and Escanaba River frontage, situated on approximately half an acre. This peaceful retreat offers the perfect setting to enjoy everything the Upper Peninsula has to offer; hunting, fishing, kayaking, hiking and quiet weekends surrounded by nature. Only a few miles from public access to large inland lakes, thousands of acres of state land nearby for hunting and about 25 miles from Lake Superior. The camp features a wood cook stove and wood heat. There is electrical wiring already started in preparation for a generator connection. While the interior needs finishing this property provides an excellent opportunity to customize your own off-grid getaway and truly live with the land. Secluded and private yet conveniently located with quick and easy access to town for supplies and necessities. A great opportunity for those seeking a simple, rural escape with river frontage and beautiful natural surroundings.

ⓘ 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: $195 · $16/mo
• Projected year-2 tax: $559 · $47/mo
• Expected delta: +$364/yr (+$30/mo · 186.4%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥92°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: $9,801
• − Mortgage interest: −$3,355
• − Property taxes: −$195
• − Insurance: −$300
• − Repairs & maintenance: −$784
• − Management: −$784
• − Depreciation: −$1,743
• Taxable income: $2,641
• Est. tax owed @ 24.0%: −$634
• After-tax cash flow: $2,845/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: Gwinn Area Community Schools
• NCES district ID: 2614690
• Math proficiency: 16% ▼ -9.00%
• Reading proficiency: 30% ▼ -4.00%
• Median HH income: $46,152
• Composite: 19.98/100
• National rank: #8670
• State rank: #439 of 540 in MI

Livability — Forsyth

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

Census & demographics

• Population (ZIP): 7,359

Population outlook (Marquette County) Hauer SSP2

• Today (2025): 67,278 people
• By 2030: 67,249 · +-0.0%
• By 2040: 66,297 · -1.5%
• By 2050: 65,241 · -3.0%
• By 2075: 64,365 · -4.3%
• By 2100: 60,707 · -9.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 6% Native American 3% Hispanic / Latino 2% Black 1%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · German/W. Germanic 1% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Marquette

• 2024 margin: Lean D (+8.7) · D 53.5% · R 44.8% · Other 1.7%
• 2008→2024 swing: -11.6pp toward R · 2008: 20.3pp · 2024: 8.7pp
• All cycles: 2024: D+8.7 2020: D+11.2 2016: D+4.2 2012: D+14.1 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -87.41%
• Current HPI: 214.0389
• 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

-9.1% since first listed

6 events — show timeline

• 2026-04-30 Pending — UPAR
• 2026-04-30 Pending — MiRealSource-MiMLS
• 2026-04-28 Price Changed $59,900 MiRealSource-MiMLS
• 2026-04-27 Price Changed $59,900 UPAR
• 2025-12-16 Listed $65,900 MiRealSource-MiMLS
• 2025-12-16 Listed $65,900 UPAR

Property tax history

-6.6%/yr

Latest (2025): $195 · -68.6% YoY. Source: county tax records.