1479 Hwy 424 · Stambaugh, MI 49920

$154,500

3 bd · 1.0 ba · 1,416 sqft · SingleFamily · 218 Days on market

0.45 ac lot $109/sqft · 54% below area

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Why this score? — see what drove the F 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 +9.3/30.0
• ARV discount +7.5/15.0
• Schools +3.5/10.0
• 1% rule +2.8/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your Northwoods retreat just outside of town! This charming 3-bedroom, 1-bath home offers comfortable main-floor living with hardwood floors and beautiful tongue-and-groove finishes throughout. A brand-new wood stove adds that perfect cozy touch for chilly evenings, and the spacious mudroom keeps things tidy year-round. Step outside to enjoy the peaceful backyard complete with a gazebo and extra storage shed. The 25x36 pole building with electricity is ideal for all your toys, tools, or hobbies. Sitting on nearly a half-acre and located right across the street from scenic Indian Lake, this property combines small-town convenience with a serene, up-north feel!

Key facts

• Wood stove
• Spacious mudroom
• Peaceful backyard

Tags

• MAIN-FLOOR LIVING
• HARDWOOD FLOORS
• TONGUE-AND-GROOVE FINISHES
• WOOD STOVE
• SPACIOUS MUDROOM
• PEACEFUL BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $154k.

Deal economics

• At list price, monthly cash flow is $-112 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $138k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (21.7% below list).
• Recommended offer: $121k (21.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• West Iron County Public Schools (town): math 38% / reading 46% proficiency, ranked #204 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 62 active listings in the ZIP; 156 units permitted in Iron County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Iron County population projected at -26% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $126k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $120,915 (21.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 218 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
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. 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: 0.78% ✗
• Cap rate: 5.42%
• Cash-on-cash: -3.12%
• DSCR: 0.86
• GRM: 10.6

CMA / ARV

• ARV (median comp): $332,437
• List price: $154,500
• Delta: -53.52%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.5%
• Equity multiple: 0.26×
• Total profit: $-32,182
• Equity at exit: $23,036

10-year hold

• IRR: -15.1%
• Equity multiple: 0.14×
• Total profit: $-37,174
• Equity at exit: $13,358

Cash invested: $43,260 (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 49920

• Home prices YoY: -18.6%
• Active inventory: 62
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,209 medium
• Mortgage (P&I): −$810
• Tax est. 1.5%: −$193 /mo · $2,318/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-112

Break-even live

Break-even rent $1,352

Max offer price $138,223

Occupancy floor —

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: $38,625
• Closing costs: $4,635
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $154,500 Active 218 DOM
2. 2026-06-17
   days on market $154,500 Active 217 DOM
3. 2026-06-16
   days on market $154,500 Active 216 DOM
4. 2026-06-15
   days on market $154,500 Active 215 DOM
5. 2026-06-13
   days on market $154,500 Active 213 DOM
6. 2026-06-12
   days on market $154,500 Active 212 DOM
7. 2026-06-09
   days on market $154,500 Active 209 DOM
8. 2026-06-08
   days on market $154,500 Active 208 DOM
9. 2026-06-07
   days on market $154,500 Active 207 DOM
10. 2026-06-07
    days on market $154,500 Active 206 DOM
11. 2026-06-04
    days on market $154,500 Active 203 DOM
12. 2026-06-02
    days on market $154,500 Active 202 DOM
13. 2026-06-01
    days on market $154,500 Active 201 DOM
14. 2026-05-31
    days on market $154,500 Active 200 DOM
15. 2026-05-31
    days on market $154,500 Active 199 DOM
16. 2026-01-30
    price $154,500 678-char remark

    Show marketing remark (678 chars)

    Welcome to your Northwoods retreat just outside of town! This charming 3-bedroom, 1-bath home offers comfortable main-floor living with hardwood floors and beautiful tongue-and-groove finishes throughout. A brand-new wood stove adds that perfect cozy touch for chilly evenings, and the spacious mudroom keeps things tidy year-round. Step outside to enjoy the peaceful backyard complete with a gazebo and extra storage shed. The 25x36 pole building with electricity is ideal for all your toys, tools, or hobbies. Sitting on nearly a half-acre and located right across the street from scenic Indian Lake, this property combines small-town convenience with a serene, up-north feel!

17. 2025-11-10
    listed $164,500 Active 678-char remark

    Show marketing remark (678 chars)

    Welcome to your Northwoods retreat just outside of town! This charming 3-bedroom, 1-bath home offers comfortable main-floor living with hardwood floors and beautiful tongue-and-groove finishes throughout. A brand-new wood stove adds that perfect cozy touch for chilly evenings, and the spacious mudroom keeps things tidy year-round. Step outside to enjoy the peaceful backyard complete with a gazebo and extra storage shed. The 25x36 pole building with electricity is ideal for all your toys, tools, or hobbies. Sitting on nearly a half-acre and located right across the street from scenic Indian Lake, this property combines small-town convenience with a serene, up-north feel!

18. 2023-03-17
    soldstatus $126,500 Closed 980-char remark

    Show marketing remark (980 chars)

    If you are looking for a home on the outskirts of town, in the country, an investment property or maybe near lakes or streams, then this property could be what you are looking for! This quaint home has 3 bedrooms and 1 bath – all on the main floor, along with a laundry area. Full kitchen, dining area and living room are all open concept. Off the dining area is a 6 x7 covered entrance you can sit in or use a mudroom. All bedrooms and bath are located off the kitchen area. Hardwood floors and tongue and groove through much of the home, gives it that Northwoods feel. Plenty of storage throughout the home too! Step into the backyard and what do we have here? Gazebo! Yes – picture yourself just relaxing an enjoying the nature and fresh air around you. Host some dinners out there with your family or friends. The 25x 36 pole building with workshop in the back, can hold all of your storage needs. Electricity is connected and pole building does have a dirt floor.

19. 2023-03-08
    status Pending 980-char remark

    Show marketing remark (980 chars)

    If you are looking for a home on the outskirts of town, in the country, an investment property or maybe near lakes or streams, then this property could be what you are looking for! This quaint home has 3 bedrooms and 1 bath – all on the main floor, along with a laundry area. Full kitchen, dining area and living room are all open concept. Off the dining area is a 6 x7 covered entrance you can sit in or use a mudroom. All bedrooms and bath are located off the kitchen area. Hardwood floors and tongue and groove through much of the home, gives it that Northwoods feel. Plenty of storage throughout the home too! Step into the backyard and what do we have here? Gazebo! Yes – picture yourself just relaxing an enjoying the nature and fresh air around you. Host some dinners out there with your family or friends. The 25x 36 pole building with workshop in the back, can hold all of your storage needs. Electricity is connected and pole building does have a dirt floor.

20. 2022-09-03
    listed $139,900 Active 980-char remark

    Show marketing remark (980 chars)

    If you are looking for a home on the outskirts of town, in the country, an investment property or maybe near lakes or streams, then this property could be what you are looking for! This quaint home has 3 bedrooms and 1 bath – all on the main floor, along with a laundry area. Full kitchen, dining area and living room are all open concept. Off the dining area is a 6 x7 covered entrance you can sit in or use a mudroom. All bedrooms and bath are located off the kitchen area. Hardwood floors and tongue and groove through much of the home, gives it that Northwoods feel. Plenty of storage throughout the home too! Step into the backyard and what do we have here? Gazebo! Yes – picture yourself just relaxing an enjoying the nature and fresh air around you. Host some dinners out there with your family or friends. The 25x 36 pole building with workshop in the back, can hold all of your storage needs. Electricity is connected and pole building does have a dirt floor.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,510
• − Mortgage interest: −$8,654
• − Property taxes: −$2,318
• − Insurance: −$772
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − Depreciation: −$4,495
• Taxable loss: −$4,051
• Est. tax savings @ 24.0%: +$972
• After-tax cash flow: $-378/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: West Iron County Public Schools
• NCES district ID: 2632910
• Math proficiency: 38% ▲ 2.00%
• Reading proficiency: 46% ▲ 1.00%
• Median HH income: $33,390
• Composite: 34.54/100
• National rank: #5175
• State rank: #204 of 540 in MI

Livability — Stambaugh

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

Census & demographics

• Population (ZIP): 4,243

Population outlook (Iron County) Hauer SSP2

• Today (2025): 10,485 people
• By 2030: 9,914 · -5.4%
• By 2040: 8,698 · -17.0%
• By 2050: 7,742 · -26.2%
• By 2075: 6,485 · -38.1%
• By 2100: 5,396 · -48.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 13% Lithuanian 4% Portuguese 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Iron

• 2024 margin: Strong R (+29.3) · D 34.7% · R 64.0% · Other 1.2%
• 2008→2024 swing: -31.5pp toward R · 2008: 2.1pp · 2024: -29.3pp
• All cycles: 2024: R+29.3 2020: R+25.4 2016: R+28.3 2012: R+9.0 2008: D+2.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -41.03%
• Current HPI: 179.7039
• 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

+10.4% since first listed

5 events — show timeline

• 2026-01-30 Price Changed $154,500 GNMLS
• 2025-11-10 Listed $164,500 GNMLS
• 2023-03-17 Sold (MLS) $126,500 GNMLS
• 2023-03-08 Pending — GNMLS
• 2022-09-03 Listed $139,900 GNMLS