25417 Elm St · Calumet, MI 49913

$49,900

2 bd · 1.5 ba · 1,193 sqft · SingleFamily public records · 318 Days on market

Built 1900 3,484 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.8/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Small and simple. This half house is perfect for one or two people looking to cut maintenance and utility bills. Close to downtown Calumet, restaurants and shopping. Located in a quiet neighborhood on the edge of town, this is your chance to own a home for a fraction of the cost.

Key facts

• Quiet neighborhood
• Close to downtown
• 3,484 sq ft lot

Tags

• CLOSE TO DOWNTOWN
• QUIET NEIGHBORHOOD

Property features AI

Finance

• Other: Property listed as residential duplex; Below-grade area noted (712 below-grade square footage)

Exterior

• Utilities: Electricity connected; Natural gas connected; Gas water heater; Public water; Public sanitary sewer
• Home design: Duplex (right half of home only); 1 1/2-story structure; Built in 1900
• Construction: Basement foundation; Unfinished basement
• Exterior features: Vinyl siding; Paved street frontage; Road frontage (approx. 27')

Interior

• Kitchen: Range/oven; Refrigerator; Dishwasher
• Bedrooms: Two bedrooms on the second floor (approx. 10 x 12 and 10 x 10)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Forced-air heating; No central air
• Interior features: No notable built-in interior features listed
• Laundry & utility: Washer and dryer; Unfinished basement for utilities/storage

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% vs local median 5.2% in Calumet — 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 60/100 on livability (#585 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: health & safety C-, schools D, crime F.
• Public Schools Of Calumet Laurium & Keweenaw (town): math 37% / reading 54% proficiency, ranked #160 of 540 in MI (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 48 active listings in the ZIP; 111 units permitted in Houghton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Houghton County population projected to shrink 10% 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 $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 318 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $9k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $50k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 318 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 2.06% ✓
• Cap rate: 15.86%
• Cash-on-cash: 34.15%
• DSCR: 2.52
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $146,739
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
57163 10th St	0.20mi	2/1.0	1,318 (+10%)	1mo	$167,500	$127	71
25384 Elm St	0.04mi	1/1.0 (-1)	1,226 (+3%)	20mo	$32,000	$26	70
57560 Waterworks St	0.65mi	3/1.0 (+1)	1,200 (+1%)	2mo	$148,067	$123	60
57249 Third St	0.35mi	3/1.0 (+1)	1,104 (-8%)	5mo	$35,000	$32	60
25642 Temple St	0.38mi	3/1.0 (+1)	1,180 (-1%)	18mo	$159,000	$135	58

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: 29.6%
• Equity multiple: 2.24×
• Total profit: $17,297
• Equity at exit: $7,440

10-year hold

• IRR: 37.0%
• Equity multiple: 4.43×
• Total profit: $47,907
• Equity at exit: $4,314

Cash invested: $13,972 (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 49913

• Active inventory: 48
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,027 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$131 /mo · $1,575/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $398

Break-even live

Break-even rent $524

Max offer price $49,900

Occupancy floor 56%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $49,900 Active 318 DOM
2. 2026-06-17
   days on market $49,900 Active 317 DOM
3. 2026-06-16
   days on market $49,900 Active 316 DOM
4. 2026-06-15
   days on market $49,900 Active 315 DOM
5. 2026-06-13
   days on market $49,900 Active 313 DOM
6. 2026-06-12
   days on market $49,900 Active 312 DOM
7. 2026-06-09
   days on market $49,900 Active 309 DOM
8. 2026-06-08
   days on market $49,900 Active 308 DOM
9. 2026-06-07
   days on market $49,900 Active 307 DOM
10. 2026-06-07
    statusdays on market $49,900 Active 306 DOM
11. 2026-06-04
    days on market $49,900 Keep Showing-Contgcy Appl 303 DOM
12. 2026-06-02
    days on market $49,900 Keep Showing-Contgcy Appl 302 DOM
13. 2026-06-01
    days on market $49,900 Keep Showing-Contgcy Appl 301 DOM
14. 2026-05-31
    days on market $49,900 Keep Showing-Contgcy Appl 300 DOM
15. 2026-05-31
    days on market $49,900 Keep Showing-Contgcy Appl 299 DOM
16. 2025-09-02
    price $49,900 280-char remark

    Show marketing remark (280 chars)

    Small and simple. This half house is perfect for one or two people looking to cut maintenance and utility bills. Close to downtown Calumet, restaurants and shopping. Located in a quiet neighborhood on the edge of town, this is your chance to own a home for a fraction of the cost.

17. 2025-09-02
    price $49,900 280-char remark

    Show marketing remark (280 chars)

    Small and simple. This half house is perfect for one or two people looking to cut maintenance and utility bills. Close to downtown Calumet, restaurants and shopping. Located in a quiet neighborhood on the edge of town, this is your chance to own a home for a fraction of the cost.

18. 2025-08-04
    listed $59,000 Active 280-char remark

    Show marketing remark (280 chars)

    Small and simple. This half house is perfect for one or two people looking to cut maintenance and utility bills. Close to downtown Calumet, restaurants and shopping. Located in a quiet neighborhood on the edge of town, this is your chance to own a home for a fraction of the cost.

19. 2025-08-04
    listed $59,000 Active 280-char remark

    Show marketing remark (280 chars)

    Small and simple. This half house is perfect for one or two people looking to cut maintenance and utility bills. Close to downtown Calumet, restaurants and shopping. Located in a quiet neighborhood on the edge of town, this is your chance to own a home for a fraction of the cost.

20. 2021-09-13
    soldstatus $30,000 633-char remark

    Show marketing remark (633 chars)

    Very well kept, move in ready 1/2 home with 2 bedrooms and 1 bathroom in Calumet. Clean, tidy, and cozy, describes this home. You enter the home via the enclosed porch into a good sized living room then make your way into the dining room. From there you can head left into the good sized kitchen with a mudroom of the back leading to the back yard, right into the full bath, or make your way upstairs to access the two upper level bedrooms as well as the shared attic space. The basement is very clean and well kept with plenty of space for storage or a hobby workshop. Perfect for the buyer looking for an affordable housing option.

21. 2021-09-13
    soldstatus $30,000 633-char remark

    Show marketing remark (633 chars)

    Very well kept, move in ready 1/2 home with 2 bedrooms and 1 bathroom in Calumet. Clean, tidy, and cozy, describes this home. You enter the home via the enclosed porch into a good sized living room then make your way into the dining room. From there you can head left into the good sized kitchen with a mudroom of the back leading to the back yard, right into the full bath, or make your way upstairs to access the two upper level bedrooms as well as the shared attic space. The basement is very clean and well kept with plenty of space for storage or a hobby workshop. Perfect for the buyer looking for an affordable housing option.

22. 2021-05-27
    listed $34,000 633-char remark

    Show marketing remark (633 chars)

    Very well kept, move in ready 1/2 home with 2 bedrooms and 1 bathroom in Calumet. Clean, tidy, and cozy, describes this home. You enter the home via the enclosed porch into a good sized living room then make your way into the dining room. From there you can head left into the good sized kitchen with a mudroom of the back leading to the back yard, right into the full bath, or make your way upstairs to access the two upper level bedrooms as well as the shared attic space. The basement is very clean and well kept with plenty of space for storage or a hobby workshop. Perfect for the buyer looking for an affordable housing option.

23. 2021-05-27
    listed $34,000 633-char remark

    Show marketing remark (633 chars)

    Very well kept, move in ready 1/2 home with 2 bedrooms and 1 bathroom in Calumet. Clean, tidy, and cozy, describes this home. You enter the home via the enclosed porch into a good sized living room then make your way into the dining room. From there you can head left into the good sized kitchen with a mudroom of the back leading to the back yard, right into the full bath, or make your way upstairs to access the two upper level bedrooms as well as the shared attic space. The basement is very clean and well kept with plenty of space for storage or a hobby workshop. Perfect for the buyer looking for an affordable housing option.

ⓘ 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: $1,575 · $131/mo
• Projected year-2 tax: $1,575 · $131/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 4/10 Moderate 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 1/10 Low 7 d/yr ≥87°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: $12,324
• − Mortgage interest: −$2,795
• − Property taxes: −$1,575
• − Insurance: −$250
• − Repairs & maintenance: −$986
• − Management: −$986
• − Depreciation: −$1,452
• Taxable income: $4,281
• Est. tax owed @ 24.0%: −$1,027
• After-tax cash flow: $3,744/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: Public Schools Of Calumet Laurium & Keweenaw
• NCES district ID: 2607690
• Math proficiency: 37% ▼ -7.00%
• Reading proficiency: 54% ▲ 2.00%
• Median HH income: $34,585
• Composite: 37.51/100
• National rank: #4398
• State rank: #160 of 540 in MI

Livability — Calumet

• Score: 60/100
• State rank: #585
• US rank: #18953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,483

Population outlook (Houghton County) Hauer SSP2

• Today (2025): 35,073 people
• By 2030: 34,645 · -1.2%
• By 2040: 33,248 · -5.2%
• By 2050: 31,625 · -9.8%
• By 2075: 28,105 · -19.9%
• By 2100: 23,274 · -33.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 3% Asian 2% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Iranian 4% Romanian 2%
• Foreign-born: 3% · China, Canada
• Languages at home: 95% English-only · Chinese 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Houghton

• 2024 margin: R (+17.0) · D 40.7% · R 57.7% · Other 1.6%
• 2008→2024 swing: -13.1pp toward R · 2008: -3.9pp · 2024: -17.0pp
• All cycles: 2024: R+17.0 2020: R+14.2 2016: R+15.7 2012: R+10.2 2008: R+3.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.04%
• Current HPI: 131.8527
• 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

+46.8% since first listed

8 events — show timeline

• 2025-09-02 Price Changed $49,900 MiRealSource-MiMLS
• 2025-09-02 Price Changed $49,900 UPAR
• 2025-08-04 Listed $59,000 UPAR
• 2025-08-04 Listed $59,000 MiRealSource-MiMLS
• 2021-09-13 Sold (MLS) $30,000 UPAR
• 2021-09-13 Sold (MLS) $30,000 MiRealSource-MiMLS
• 2021-05-27 Listed $34,000 UPAR
• 2021-05-27 Listed $34,000 MiRealSource-MiMLS

Property tax history

+21.3%/yr

Latest (2025): $1,575 · +5.0% YoY. Source: county tax records.