249 W Birch St · Ironwood, MI 49938-1111

$12,900

3 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 30 Days on market

Built 1900 5,227 sqft lot

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +3.5/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Great fix it and flip it or tear it down and build on a level corner city lot with utilities on site! There is some potential if you can shore up the foundation. The home has a nice layout, and some of the prep work has been completed. There's a nice front porch as you enter. The main floor has a good sized living room with a room off to the side that could be turned into a bedroom, or used as an office. The kitchen has ample size, and there is a main floor bathroom roughed in. On the upper level, there are 3 large open rooms that could be sectioned off into nice bedrooms along with a spacious entry to a large bathroom. There has been some plumbing, and electrical updates. This one really could have a lot of potential as it sits on a great corner lot.

Key facts

• Ample size kitchen
• Front porch
• Large open rooms

Tags

• LEVEL CORNER CITY LOT
• FRONT PORCH
• GOOD SIZED LIVING ROOM
• AMPLE SIZE KITCHEN
• MAIN FLOOR BATHROOM ROUGHED IN
• LARGE OPEN ROOMS

Property features AI

Exterior

• Parking: Three or more parking spaces; On-street parking
• Utilities: Electricity connected; Natural gas connected; Public water; Public sanitary sewer; Internet (Spectrum)
• Home design: Residential property (1 to 4 units); Two-story structure; Built in 1900
• Construction: Vinyl exterior; Michigan basement foundation; 1900 construction year
• Exterior features: Vinyl siding; Front porch; Street lights; Corner lot within city limits; Large lot frontage (65+ ft.); Road frontage

Interior

• Kitchen: Refrigerator included
• Bedrooms: Three bedrooms on the upper level (approx. 9 x 13; 10 x 13; 13-wide)
• Bathrooms: Two full bathrooms (one main-floor full bathroom; total 2 bathrooms)
• Heating & cooling: Heating: other (see remarks); No central cooling listed
• Interior features: Cable/internet available; Basement present (Michigan-style)
• Laundry & utility: Basement provides utility/laundry space

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $13k.

Deal economics

• At list price, monthly cash flow is $853 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $13k).
• Recommended offer: $13k (1.5% below list) — sets the bar for market timing.
• Cap rate 85.7% vs local median 5.8% in Ironwood — 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 (#325 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, housing A; Watch: health & safety C-, schools D+, amenities F.
• Ironwood Area Schools Of Gogebic County (town): math 23% / reading 40% proficiency, ranked #361 of 540 in MI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 5 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 $476 of equity ($89 loan paydown + $387 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 $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($13k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $7k (35%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $12,706 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 9.43% ✓
• Cap rate: 85.68%
• Cash-on-cash: 283.53%
• DSCR: 13.62
• GRM: 0.9

CMA / ARV

• ARV (on-the-fly): $97,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
332 W Ash St	0.09mi	3/1.0	1,341 (+8%)	17mo	$90,300	$67	66
402 Alfred Wright Blvd	0.11mi	3/1.5	1,424 (+14%)	5mo	$129,900	$91	65
111 E Ash St	0.27mi	3/1.0	1,105 (-12%)	1mo	$120,000	$109	63
102 W Ash St	0.22mi	2/1.0 (-1)	1,142 (-8%)	6mo	$74,900	$66	61
107 E McLeod St	0.49mi	4/2.0 (+1)	1,344 (+8%)	10mo	$85,000	$63	51
334 W Ayer St	0.52mi	3/1.0	1,120 (-10%)	6mo	$20,000	$18	50
240 E Ash St	0.41mi	3/1.0	1,144 (-8%)	17mo	$154,000	$135	49
308 W Ayer St	0.52mi	4/2.0 (+1)	1,402 (+12%)	2mo	$118,450	$84	48
210 Norrie St	0.68mi	3/1.0	1,211 (-3%)	13mo	$46,800	$39	48
326 W Frederick St	0.58mi	4/1.5 (+1)	1,410 (+13%)	12mo	$110,000	$78	34
230 W Frederick St	0.60mi	2/1.0 (-1)	1,083 (-13%)	12mo	$139,000	$128	31
311 W Norrie St	0.63mi	3/1.0	1,060 (-15%)	14mo	$35,000	$33	30

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: —
• Equity multiple: 16.49×
• Total profit: $55,940
• Equity at exit: $5,800

10-year hold

• IRR: —
• Equity multiple: 35.05×
• Total profit: $123,005
• Equity at exit: $8,939

Cash invested: $3,612 (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 49938-1111

• Active inventory: 5
• Price-to-rent: 0.9×

Monthly cashflow live

• Estimated rent: $1,217 medium
• Mortgage (P&I): −$68
• Tax from tax record: −$35 /mo · $418/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$256
• Net cashflow: $853

Break-even live

Break-even rent $137

Max offer price $12,900

Occupancy floor 25%

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: $3,225
• Closing costs: $387
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $12,900 Active 30 DOM
2. 2026-06-17
   days on market $12,900 Active 29 DOM
3. 2026-06-16
   days on market $12,900 Active 28 DOM
4. 2026-06-15
   days on market $12,900 Active 27 DOM
5. 2026-06-13
   days on market $12,900 Active 25 DOM
6. 2026-06-12
   pricedays on market $12,900 Active 24 DOM
7. 2026-06-09
   days on market $17,500 Active 21 DOM
8. 2026-06-08
   days on market $17,500 Active 20 DOM
9. 2026-06-07
   days on market $17,500 Active 19 DOM
10. 2026-06-07
    days on market $17,500 Active 18 DOM
11. 2026-06-04
    days on market $17,500 Active 15 DOM
12. 2026-06-02
    days on market $17,500 Active 14 DOM
13. 2026-06-01
    days on market $17,500 Active 13 DOM
14. 2026-05-31
    days on market $17,500 Active 12 DOM
15. 2026-05-31
    days on market $17,500 Active 11 DOM
16. 2026-05-19
    listed $19,900 Active 761-char remark

    Show marketing remark (761 chars)

    Great fix it and flip it or tear it down and build on a level corner city lot with utilities on site! There is some potential if you can shore up the foundation. The home has a nice layout, and some of the prep work has been completed. There's a nice front porch as you enter. The main floor has a good sized living room with a room off to the side that could be turned into a bedroom, or used as an office. The kitchen has ample size, and there is a main floor bathroom roughed in. On the upper level, there are 3 large open rooms that could be sectioned off into nice bedrooms along with a spacious entry to a large bathroom. There has been some plumbing, and electrical updates. This one really could have a lot of potential as it sits on a great corner lot.

17. 2026-05-19
    listed $19,900 Active 761-char remark

    Show marketing remark (761 chars)

    Great fix it and flip it or tear it down and build on a level corner city lot with utilities on site! There is some potential if you can shore up the foundation. The home has a nice layout, and some of the prep work has been completed. There's a nice front porch as you enter. The main floor has a good sized living room with a room off to the side that could be turned into a bedroom, or used as an office. The kitchen has ample size, and there is a main floor bathroom roughed in. On the upper level, there are 3 large open rooms that could be sectioned off into nice bedrooms along with a spacious entry to a large bathroom. There has been some plumbing, and electrical updates. This one really could have a lot of potential as it sits on a great corner lot.

18. 2026-05-19
    listed $19,900 Active 761-char remark

    Show marketing remark (761 chars)

    Great fix it and flip it or tear it down and build on a level corner city lot with utilities on site! There is some potential if you can shore up the foundation. The home has a nice layout, and some of the prep work has been completed. There's a nice front porch as you enter. The main floor has a good sized living room with a room off to the side that could be turned into a bedroom, or used as an office. The kitchen has ample size, and there is a main floor bathroom roughed in. On the upper level, there are 3 large open rooms that could be sectioned off into nice bedrooms along with a spacious entry to a large bathroom. There has been some plumbing, and electrical updates. This one really could have a lot of potential as it sits on a great corner lot.

ⓘ 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: $418 · $35/mo
• Projected year-2 tax: $418 · $35/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥89°F today · 14 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: $14,602
• − Mortgage interest: −$723
• − Property taxes: −$418
• − Insurance: −$64
• − Repairs & maintenance: −$1,168
• − Management: −$1,168
• − Depreciation: −$375
• Taxable income: $10,685
• Est. tax owed @ 24.0%: −$2,564
• After-tax cash flow: $7,677/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: Ironwood Area Schools Of Gogebic County
• NCES district ID: 2619470
• Math proficiency: 23% ▼ -13.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $33,313
• Composite: 25.78/100
• National rank: #7369
• State rank: #361 of 540 in MI

Livability — Ironwood

• Score: 70/100
• State rank: #325
• US rank: #8024

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ironwood, MI

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• 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

3 events — show timeline

• 2026-05-19 Listed $19,900 UPAR
• 2026-05-19 Listed $19,900 MiRealSource-MiMLS
• 2026-05-19 Listed $19,900 GNMLS

Property tax history

-1.7%/yr

Latest (2024): $418 · -3.4% YoY. Source: county tax records.