N10255 River St · Bessemer, MI 49959

$105,000

3 bd · 1.5 ba · 1,357 sqft · SingleFamily · 246 Days on market

Built 1919 Fair condition 0.32 ac lot $77/sqft · at area comps Est $100k · at est.

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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 +25.0/30.0
• DSCR +8.2/10.0
• 1% rule +6.5/10.0
• ARV discount +5.3/15.0
• Appreciation +5.0/10.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0

Listing remarks MLS

Nestled near the scenic Black River, this inviting home offers fresh exterior paint, several new windows, updated plumbing, and a refurbished furnace—providing peace of mind and comfort. Step inside to a welcoming living room featuring a convenient landing area for shoes, a coat closet, and a large picture window that fills the space with natural light. Exposed beams add warmth and character, while an open staircase with storage underneath enhances the flow of the room. A versatile first-floor bedroom or office boasts more picture windows and built-in shelving. The eat-in kitchen includes wood cabinetry, a peninsula with a dishwasher, and connects to a full bathroom adorned with charming vintage tile. From the kitchen, step down into the breezeway leading to an unfinished family room with generous windows and a cozy wood-burning stove—ready to be personalized to your style. A side deck is perfect for grilling or relaxing outdoors, complemented by a small patio for gatherings. Upstairs, a bright open area offers flexible space for a playroom, gym, or library. Two comfortable bedrooms provide large closets, and a convenient half bath completes the level. The basement features a built-in workbench and a newly refurbished boiler. The garage, though built with a wood floor, remains sturdy and functional, and a backyard storage building adds even more utility. Located close to major ski resorts and a variety of motorized and non-motorized trail systems, this home is ideal for those who love adventure and the outdoors.

Key facts

• Refurbished furnace
• Fresh exterior paint
• New windows

Tags

• FRESH EXTERIOR PAINT
• NEW WINDOWS
• UPDATED PLUMBING
• REFURBISHED FURNACE
• WELCOMING LIVING ROOM
• LANDING AREA FOR SHOES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $105k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.6% in Bessemer — 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 (#298 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D, amenities F, commute F.
• Bessemer Area School District (rural): math 33% / reading 50% proficiency, ranked #355 of 760 in MI (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 1 active listings in the ZIP; 28 units permitted in Gogebic County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($726 loan paydown + $3k appreciation (3.0% local appreciation)).
• 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 $29k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 246 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 246 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.15% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.34%
• DSCR: 1.42
• GRM: 7.2

CMA / ARV

• ARV (median comp): $100,097
• List price: $105,000
• Delta: 4.90%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1801 Plymouth Mine Rd	0.74mi	3/1.0	1,320 (-3%)	8mo	$91,000	$69	52

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: 16.2%
• Equity multiple: 1.93×
• Total profit: $27,243
• Equity at exit: $47,213

10-year hold

• IRR: 17.8%
• Equity multiple: 3.61×
• Total profit: $76,596
• Equity at exit: $72,760

Cash invested: $29,400 (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 49959

• Active inventory: 1
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,208 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $229

Break-even live

Break-even rent $919

Max offer price $105,000

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $105,000 Active 246 DOM
2. 2026-06-17
   days on market $105,000 Active 245 DOM
3. 2026-06-16
   days on market $105,000 Active 244 DOM
4. 2026-06-15
   days on market $105,000 Active 243 DOM
5. 2026-06-13
   days on market $105,000 Active 241 DOM
6. 2026-06-12
   days on market $105,000 Active 240 DOM
7. 2026-06-09
   days on market $105,000 Active 237 DOM
8. 2026-06-08
   days on market $105,000 Active 236 DOM
9. 2026-06-07
   days on market $105,000 Active 235 DOM
10. 2026-06-07
    days on market $105,000 Active 234 DOM
11. 2026-06-04
    days on market $105,000 Active 231 DOM
12. 2026-06-02
    days on market $105,000 Active 230 DOM
13. 2026-06-01
    days on market $105,000 Active 229 DOM
14. 2026-05-31
    days on market $105,000 Active 228 DOM
15. 2026-05-31
    days on market $105,000 Active 227 DOM
16. 2025-10-15
    listed $105,000 Active 1549-char remark

    Show marketing remark (1549 chars)

    Nestled near the scenic Black River, this inviting home offers fresh exterior paint, several new windows, updated plumbing, and a refurbished furnace—providing peace of mind and comfort. Step inside to a welcoming living room featuring a convenient landing area for shoes, a coat closet, and a large picture window that fills the space with natural light. Exposed beams add warmth and character, while an open staircase with storage underneath enhances the flow of the room. A versatile first-floor bedroom or office boasts more picture windows and built-in shelving. The eat-in kitchen includes wood cabinetry, a peninsula with a dishwasher, and connects to a full bathroom adorned with charming vintage tile. From the kitchen, step down into the breezeway leading to an unfinished family room with generous windows and a cozy wood-burning stove—ready to be personalized to your style. A side deck is perfect for grilling or relaxing outdoors, complemented by a small patio for gatherings. Upstairs, a bright open area offers flexible space for a playroom, gym, or library. Two comfortable bedrooms provide large closets, and a convenient half bath completes the level. The basement features a built-in workbench and a newly refurbished boiler. The garage, though built with a wood floor, remains sturdy and functional, and a backyard storage building adds even more utility. Located close to major ski resorts and a variety of motorized and non-motorized trail systems, this home is ideal for those who love adventure and the outdoors.

17. 2025-10-15
    listed $105,000 Active 1549-char remark

    Show marketing remark (1549 chars)

    Nestled near the scenic Black River, this inviting home offers fresh exterior paint, several new windows, updated plumbing, and a refurbished furnace—providing peace of mind and comfort. Step inside to a welcoming living room featuring a convenient landing area for shoes, a coat closet, and a large picture window that fills the space with natural light. Exposed beams add warmth and character, while an open staircase with storage underneath enhances the flow of the room. A versatile first-floor bedroom or office boasts more picture windows and built-in shelving. The eat-in kitchen includes wood cabinetry, a peninsula with a dishwasher, and connects to a full bathroom adorned with charming vintage tile. From the kitchen, step down into the breezeway leading to an unfinished family room with generous windows and a cozy wood-burning stove—ready to be personalized to your style. A side deck is perfect for grilling or relaxing outdoors, complemented by a small patio for gatherings. Upstairs, a bright open area offers flexible space for a playroom, gym, or library. Two comfortable bedrooms provide large closets, and a convenient half bath completes the level. The basement features a built-in workbench and a newly refurbished boiler. The garage, though built with a wood floor, remains sturdy and functional, and a backyard storage building adds even more utility. Located close to major ski resorts and a variety of motorized and non-motorized trail systems, this home is ideal for those who love adventure and the outdoors.

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥90°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: $14,499
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,160
• − Management: −$1,160
• − Depreciation: −$3,055
• Taxable income: $1,143
• Est. tax owed @ 24.0%: −$274
• After-tax cash flow: $2,472/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate renovations to improve its condition and increase its value. Key areas for improvement include the kitchen, bathroom, exterior, and flooring. Upgrades in these areas will significantly enhance its resale and rental potential.

Repairs flagged

• Major kitchen cabinets — severely worn and outdated
• Major bathroom fixtures — dated and in poor condition
• Major exterior siding — weathered and in need of repainting
• Major flooring — damaged hardwoods need replacement
• Major paint — peeling paint needs repainting

Value-add opportunities

• Resale kitchen renovation — modernizing outdated kitchen
• Resale bathroom renovation — updating dated fixtures
• Both exterior painting — enhances curb appeal and value
• Both landscaping — improves curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · severely worn and outdated	Major	$15,000–50,000
bathroom fixtures · dated and in poor condition	Major	$15,000–50,000
exterior siding · weathered and in need of repainting	Major	$15,000–50,000
flooring · damaged hardwoods need replacement	Major	$15,000–50,000
paint · peeling paint needs repainting	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Resale kitchen renovation — modernizing outdated kitchen ↑
• Resale bathroom renovation — updating dated fixtures ↑
• Both exterior painting — enhances curb appeal and value ↑
• Both landscaping — improves curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bessemer Area School District
• NCES district ID: 2600006
• Math proficiency: 33% ▲ 5.00%
• Reading proficiency: 50% ▲ 12.00%
• Median HH income: $35,571
• Composite: 36.69/100
• National rank: #9217
• State rank: #355 of 760 in MI

Livability — Bessemer

• Score: 70/100
• State rank: #298
• US rank: #7427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ramsay, MI
• Population (ZIP): 261

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 (79%)
• Race & ethnicity: White 79% Black 11% Hispanic / Latino 8% Two or more races 5%
• Common ancestry: Portuguese 5% Romanian 3% Subsaharan African 1%
• Foreign-born: 3% · Canada
• Languages at home: 93% English-only · Spanish 7%

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: —
• Current HPI: —
• 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

+0.0% since first listed

2 events — show timeline

• 2025-10-15 Listed $105,000 UPAR
• 2025-10-15 Listed $105,000 MiRealSource-MiMLS