1813 Hadley St · Bessemer, MI 49911

$82,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 80 Days on market

Built 1900 0.41 ac lot $95/sqft · 17% above area Est $78k · 6% 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 +24.8/30.0
• DSCR +8.1/10.0
• 1% rule +5.5/10.0
• ARV discount +4.9/15.0
• Schools +3.7/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cozy 2-bedroom, 1-bath home situated on a spacious lot in the city of Bessemer. The attached one-car garage provides convenient access into a nicely sized living room, formal dining area, and eat-in kitchen, along with main floor bathroom. The home also features central air for added comfort. Upstairs, you'll find two comfortable bedrooms, both with closets. Enjoy the 3-season front porch and a backyard that includes an older shed.

Key facts

• Attached garage
• Spacious lot
• Formal dining area

Tags

• SPACIOUS LOT
• ATTACHED GARAGE
• NICELY SIZED LIVING ROOM
• FORMAL DINING AREA
• EAT-IN KITCHEN
• MAIN FLOOR BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $174 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($857 rent vs $82k).
• Recommended offer: $77k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.8% 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: 36 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 $567 of loan paydown is wiped out by about $2k 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 80 days — a 6% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $8k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $32k; list at $82k implies a 156% 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 $77,080 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 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. 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: 1.05% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.11%
• DSCR: 1.41
• GRM: 8.0

CMA / ARV

• ARV (median comp): $77,591
• List price: $82,000
• Delta: 5.68%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.6%
• Equity multiple: 0.90×
• Total profit: $-2,213
• Equity at exit: $12,226

10-year hold

• IRR: 7.1%
• Equity multiple: 1.53×
• Total profit: $12,261
• Equity at exit: $7,090

Cash invested: $22,960 (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 49911

• Home prices YoY: -14.4%
• Active inventory: 36
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $857 medium
• Mortgage (P&I): −$430
• Tax from tax record: −$39 /mo · $464/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $174

Break-even live

Break-even rent $637

Max offer price $82,000

Occupancy floor 75%

Sensitivity live

Price	-10% $221	-5% $198	+0% $174	+5% $151	+10% $128
Rent	-10% $107	-5% $140	+0% $174	+5% $208	+10% $242
Rate	-1.0pp $216	-0.5pp $195	base $174	+0.5pp $153	+1.0pp $131

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: $20,500
• Closing costs: $2,460
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $82,000 Active 80 DOM
2. 2026-06-18
   days on market $82,000 Active 78 DOM
3. 2026-06-17
   days on market $82,000 Active 77 DOM
4. 2026-06-16
   days on market $82,000 Active 76 DOM
5. 2026-06-15
   days on market $82,000 Active 75 DOM
6. 2026-06-13
   days on market $82,000 Active 73 DOM
7. 2026-06-12
   days on market $82,000 Active 72 DOM
8. 2026-06-09
   days on market $82,000 Active 69 DOM
9. 2026-06-08
   days on market $82,000 Active 68 DOM
10. 2026-06-07
    days on market $82,000 Active 67 DOM
11. 2026-06-07
    days on market $82,000 Active 66 DOM
12. 2026-06-04
    days on market $82,000 Active 63 DOM
13. 2026-06-02
    days on market $82,000 Active 62 DOM
14. 2026-06-01
    days on market $82,000 Active 61 DOM
15. 2026-05-31
    days on market $82,000 Active 60 DOM
16. 2026-05-31
    days on market $82,000 Active 59 DOM
17. 2026-04-01
    listed $89,900 Active 435-char remark

    Show marketing remark (435 chars)

    Cozy 2-bedroom, 1-bath home situated on a spacious lot in the city of Bessemer. The attached one-car garage provides convenient access into a nicely sized living room, formal dining area, and eat-in kitchen, along with main floor bathroom. The home also features central air for added comfort. Upstairs, you'll find two comfortable bedrooms, both with closets. Enjoy the 3-season front porch and a backyard that includes an older shed.

18. 2026-04-01
    listed $89,900 Active 435-char remark

    Show marketing remark (435 chars)

    Cozy 2-bedroom, 1-bath home situated on a spacious lot in the city of Bessemer. The attached one-car garage provides convenient access into a nicely sized living room, formal dining area, and eat-in kitchen, along with main floor bathroom. The home also features central air for added comfort. Upstairs, you'll find two comfortable bedrooms, both with closets. Enjoy the 3-season front porch and a backyard that includes an older shed.

19. 2018-02-16
    soldstatus $32,000 701-char remark

    Show marketing remark (701 chars)

    Large yard! This 2 br, 1 bath home sits on 3 lots and features an eat-in kitchen with wood cabinets, a nice size dining area that is open through an arch way to the living room. The full bath has an updated tub/shower unit. The main level also has a 3 season front porch and access to the deck near the kitchen. Upstairs are 2 bedrooms both with closets. The attached garage leads you right into the living room. The home has a maintenance free exterior, 1 year old natural gas forced air furnace with central air conditioning and all the appliances are included. There is also a small shed out back! This move-in ready home is small, but the large yard is perfect for entertaining and outdoor living!

20. 2018-02-16
    soldstatus $32,000 701-char remark

    Show marketing remark (701 chars)

    Large yard! This 2 br, 1 bath home sits on 3 lots and features an eat-in kitchen with wood cabinets, a nice size dining area that is open through an arch way to the living room. The full bath has an updated tub/shower unit. The main level also has a 3 season front porch and access to the deck near the kitchen. Upstairs are 2 bedrooms both with closets. The attached garage leads you right into the living room. The home has a maintenance free exterior, 1 year old natural gas forced air furnace with central air conditioning and all the appliances are included. There is also a small shed out back! This move-in ready home is small, but the large yard is perfect for entertaining and outdoor living!

21. 2017-08-10
    listed $34,500 701-char remark

    Show marketing remark (701 chars)

    Large yard! This 2 br, 1 bath home sits on 3 lots and features an eat-in kitchen with wood cabinets, a nice size dining area that is open through an arch way to the living room. The full bath has an updated tub/shower unit. The main level also has a 3 season front porch and access to the deck near the kitchen. Upstairs are 2 bedrooms both with closets. The attached garage leads you right into the living room. The home has a maintenance free exterior, 1 year old natural gas forced air furnace with central air conditioning and all the appliances are included. There is also a small shed out back! This move-in ready home is small, but the large yard is perfect for entertaining and outdoor living!

22. 2017-08-10
    listed $34,500 701-char remark

    Show marketing remark (701 chars)

    Large yard! This 2 br, 1 bath home sits on 3 lots and features an eat-in kitchen with wood cabinets, a nice size dining area that is open through an arch way to the living room. The full bath has an updated tub/shower unit. The main level also has a 3 season front porch and access to the deck near the kitchen. Upstairs are 2 bedrooms both with closets. The attached garage leads you right into the living room. The home has a maintenance free exterior, 1 year old natural gas forced air furnace with central air conditioning and all the appliances are included. There is also a small shed out back! This move-in ready home is small, but the large yard is perfect for entertaining and outdoor living!

23. 2017-08-10
    historical

    Show marketing remark (701 chars)

    Large yard! This 2 br, 1 bath home sits on 3 lots and features an eat-in kitchen with wood cabinets, a nice size dining area that is open through an arch way to the living room. The full bath has an updated tub/shower unit. The main level also has a 3 season front porch and access to the deck near the kitchen. Upstairs are 2 bedrooms both with closets. The attached garage leads you right into the living room. The home has a maintenance free exterior, 1 year old natural gas forced air furnace with central air conditioning and all the appliances are included. There is also a small shed out back! This move-in ready home is small, but the large yard is perfect for entertaining and outdoor living!

24. 2016-08-09
    listed $39,900

ⓘ 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: $464 · $39/mo
• Projected year-2 tax: $864 · $72/mo
• Expected delta: +$399/yr (+$33/mo · 86.0%)

ⓘ 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 · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥89°F today · 12 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: $10,286
• − Mortgage interest: −$4,593
• − Property taxes: −$464
• − Insurance: −$410
• − Repairs & maintenance: −$823
• − Management: −$823
• − Depreciation: −$2,385
• Taxable income: $787
• Est. tax owed @ 24.0%: −$189
• After-tax cash flow: $1,903/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: 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: Bessemer, MI
• Population (ZIP): 2,843

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 (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2% Black 1% Native American 1%
• Common ancestry: Romanian 5% Hungarian 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 99% English-only · Other Indo-European 1%

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: ▼ -37.15%
• Current HPI: 219.9901
• 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

+125.3% since first listed

8 events — show timeline

• 2026-04-01 Listed $89,900 MiRealSource-MiMLS
• 2026-04-01 Listed $89,900 UPAR
• 2018-02-16 Sold (MLS) $32,000 UPAR
• 2018-02-16 Sold (MLS) $32,000 MiRealSource-MiMLS
• 2017-08-10 Listing Removed — MiRealSource-MiMLS
• 2017-08-10 Listed $34,500 UPAR
• 2017-08-10 Listed $34,500 MiRealSource-MiMLS
• 2016-08-09 Listed $39,900 MiRealSource-MiMLS