119 North St · Wakefield, MI 49968

$44,000

2 bd · 2.0 ba · 1,050 sqft · SingleFamily public records · 30 Days on market

Built 1930 10,019 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
• Livability +3.6/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 119 North St in Wakefield, MI 49968, a beautifully updated 2-bedroom, 2-bath home offering 1,050 sq ft of comfortable living space. The entire interior was fully redone in 2024, giving it a fresh and modern feel throughout. A 3-year-old roof adds peace of mind, along with a solid foundation and well-maintained electrical and plumbing systems. The layout is functional and inviting, perfect for everyday living or a relaxing retreat. Move-in ready with great updates already completed. Property sold AS-IS.

Key facts

• Solid foundation
• Updated interior
• 3 year old roof

Tags

• UPDATED INTERIOR
• 3 YEAR OLD ROOF
• SOLID FOUNDATION
• WELL MAINTAINED ELECTRICAL
• WELL MAINTAINED PLUMBING

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Public sewer; Sewer available
• Home design: Single-family residence; Residential property
• Construction: Wood siding; 1 story; 1,050 above-grade finished square feet
• Exterior features: Lot in Plat of Wico Location subdivision; Cross street: North St / US-2 (Sunday Lake St)

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: No central cooling
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $44k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($963 rent vs $44k).
• Recommended offer: $43k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#237 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: schools D+, employment D, amenities F.
• Wakefield-Marenisco School District (rural): math 25% / reading 40% proficiency, ranked #509 of 760 in MI (top 67%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 8 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 $304 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $17k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $44k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,340 (1.5% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.19% ✓
• Cap rate: 18.74%
• Cash-on-cash: 44.46%
• DSCR: 2.98
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $96,600
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
709 Plymouth Rd	0.50mi	2/1.0	913 (-13%)	7mo	$84,000	$92	45

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: 41.5%
• Equity multiple: 2.78×
• Total profit: $21,956
• Equity at exit: $6,561

10-year hold

• IRR: 47.7%
• Equity multiple: 5.60×
• Total profit: $56,611
• Equity at exit: $3,804

Cash invested: $12,320 (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 49968

• Home prices YoY: -8.8%
• Active inventory: 8
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $963 medium
• Mortgage (P&I): −$231
• Tax est. 1.5%: −$55 /mo · $660/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $456

Break-even live

Break-even rent $385

Max offer price $44,000

Occupancy floor 48%

Sensitivity live

Price	-10% $487	-5% $472	+0% $456	+5% $441	+10% $426
Rent	-10% $380	-5% $418	+0% $456	+5% $494	+10% $532
Rate	-1.0pp $479	-0.5pp $468	base $456	+0.5pp $445	+1.0pp $433

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: $11,000
• Closing costs: $1,320
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $44,000 Active 30 DOM
2. 2026-06-18
   days on market $44,000 Active 28 DOM
3. 2026-06-17
   days on market $44,000 Active 27 DOM
4. 2026-06-16
   days on market $44,000 Active 26 DOM
5. 2026-06-15
   days on market $44,000 Active 25 DOM
6. 2026-06-13
   days on market $44,000 Active 23 DOM
7. 2026-06-12
   days on market $44,000 Active 22 DOM
8. 2026-06-09
   days on market $44,000 Active 19 DOM
9. 2026-06-09
   price $44,000 Active 18 DOM
10. 2026-06-08
    days on market $50,000 Active 18 DOM
11. 2026-06-07
    days on market $50,000 Active 17 DOM
12. 2026-06-05
    pricedays on market $50,000 Active 15 DOM
13. 2026-06-04
    days on market $56,000 Active 13 DOM
14. 2026-06-02
    days on market $56,000 Active 12 DOM
15. 2026-06-01
    days on market $56,000 Active 11 DOM
16. 2026-05-31
    days on market $56,000 Active 10 DOM
17. 2026-05-31
    days on market $56,000 Active 9 DOM
18. 2026-05-21
    listed $61,000 Active

    Show marketing remark (518 chars)

    Welcome to 119 North St in Wakefield, MI 49968, a beautifully updated 2-bedroom, 2-bath home offering 1,050 sq ft of comfortable living space. The entire interior was fully redone in 2024, giving it a fresh and modern feel throughout. A 3-year-old roof adds peace of mind, along with a solid foundation and well-maintained electrical and plumbing systems. The layout is functional and inviting, perfect for everyday living or a relaxing retreat. Move-in ready with great updates already completed. Property sold AS-IS.

19. 2026-05-21
    listed $61,000 Active 518-char remark

    Show marketing remark (518 chars)

    Welcome to 119 North St in Wakefield, MI 49968, a beautifully updated 2-bedroom, 2-bath home offering 1,050 sq ft of comfortable living space. The entire interior was fully redone in 2024, giving it a fresh and modern feel throughout. A 3-year-old roof adds peace of mind, along with a solid foundation and well-maintained electrical and plumbing systems. The layout is functional and inviting, perfect for everyday living or a relaxing retreat. Move-in ready with great updates already completed. Property sold AS-IS.

20. 2023-11-17
    soldstatus $27,500 Closed 816-char remark

    Show marketing remark (816 chars)

    Fixer Upper! Located on a quiet dead-end street and loaded with potential, this home is begging for a reboot! Enclosed front entry opens to spacious great room with a corner hearth ready for a fireplace. The kitchen has lots of cabinet space and a dining area that overlooks the back yard. There's a large, updated bath with walk-in shower and laundry hookup on main floor. Upstairs there are two good sized bedrooms with closets and hardwood floors- one with nice built-ins, plus a half bath with vaulted ceiling and room for a tub or shower. Updated vinyl windows need to be properly trimmed out and siding finished. And then there's the basement. The east wall has moved leaving large cracks. Power is connected, water/sewer are not. Home is being sold "AS IS". Back yard has great views to the north.

21. 2023-11-17
    soldstatus $27,500 Closed 816-char remark

    Show marketing remark (816 chars)

    Fixer Upper! Located on a quiet dead-end street and loaded with potential, this home is begging for a reboot! Enclosed front entry opens to spacious great room with a corner hearth ready for a fireplace. The kitchen has lots of cabinet space and a dining area that overlooks the back yard. There's a large, updated bath with walk-in shower and laundry hookup on main floor. Upstairs there are two good sized bedrooms with closets and hardwood floors- one with nice built-ins, plus a half bath with vaulted ceiling and room for a tub or shower. Updated vinyl windows need to be properly trimmed out and siding finished. And then there's the basement. The east wall has moved leaving large cracks. Power is connected, water/sewer are not. Home is being sold "AS IS". Back yard has great views to the north.

22. 2023-10-27
    status Pending 816-char remark

    Show marketing remark (816 chars)

    Fixer Upper! Located on a quiet dead-end street and loaded with potential, this home is begging for a reboot! Enclosed front entry opens to spacious great room with a corner hearth ready for a fireplace. The kitchen has lots of cabinet space and a dining area that overlooks the back yard. There's a large, updated bath with walk-in shower and laundry hookup on main floor. Upstairs there are two good sized bedrooms with closets and hardwood floors- one with nice built-ins, plus a half bath with vaulted ceiling and room for a tub or shower. Updated vinyl windows need to be properly trimmed out and siding finished. And then there's the basement. The east wall has moved leaving large cracks. Power is connected, water/sewer are not. Home is being sold "AS IS". Back yard has great views to the north.

23. 2023-10-27
    status Pending 816-char remark

    Show marketing remark (816 chars)

    Fixer Upper! Located on a quiet dead-end street and loaded with potential, this home is begging for a reboot! Enclosed front entry opens to spacious great room with a corner hearth ready for a fireplace. The kitchen has lots of cabinet space and a dining area that overlooks the back yard. There's a large, updated bath with walk-in shower and laundry hookup on main floor. Upstairs there are two good sized bedrooms with closets and hardwood floors- one with nice built-ins, plus a half bath with vaulted ceiling and room for a tub or shower. Updated vinyl windows need to be properly trimmed out and siding finished. And then there's the basement. The east wall has moved leaving large cracks. Power is connected, water/sewer are not. Home is being sold "AS IS". Back yard has great views to the north.

24. 2023-10-12
    listed $29,900 Active 816-char remark

    Show marketing remark (816 chars)

    Fixer Upper! Located on a quiet dead-end street and loaded with potential, this home is begging for a reboot! Enclosed front entry opens to spacious great room with a corner hearth ready for a fireplace. The kitchen has lots of cabinet space and a dining area that overlooks the back yard. There's a large, updated bath with walk-in shower and laundry hookup on main floor. Upstairs there are two good sized bedrooms with closets and hardwood floors- one with nice built-ins, plus a half bath with vaulted ceiling and room for a tub or shower. Updated vinyl windows need to be properly trimmed out and siding finished. And then there's the basement. The east wall has moved leaving large cracks. Power is connected, water/sewer are not. Home is being sold "AS IS". Back yard has great views to the north.

25. 2023-10-12
    listed $29,900 Active 816-char remark

    Show marketing remark (816 chars)

    Fixer Upper! Located on a quiet dead-end street and loaded with potential, this home is begging for a reboot! Enclosed front entry opens to spacious great room with a corner hearth ready for a fireplace. The kitchen has lots of cabinet space and a dining area that overlooks the back yard. There's a large, updated bath with walk-in shower and laundry hookup on main floor. Upstairs there are two good sized bedrooms with closets and hardwood floors- one with nice built-ins, plus a half bath with vaulted ceiling and room for a tub or shower. Updated vinyl windows need to be properly trimmed out and siding finished. And then there's the basement. The east wall has moved leaving large cracks. Power is connected, water/sewer are not. Home is being sold "AS IS". Back yard has great views to the north.

ⓘ 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 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: $11,552
• − Mortgage interest: −$2,465
• − Property taxes: −$660
• − Insurance: −$220
• − Repairs & maintenance: −$924
• − Management: −$924
• − Depreciation: −$1,280
• Taxable income: $5,079
• Est. tax owed @ 24.0%: −$1,219
• After-tax cash flow: $4,258/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: Wakefield-Marenisco School District
• NCES district ID: 2635010
• Math proficiency: 25% ▲ 5.00%
• Reading proficiency: 40% ▲ 15.00%
• Median HH income: $36,188
• Composite: 29.66/100
• National rank: #11741
• State rank: #509 of 760 in MI

Livability — Wakefield

• Score: 72/100
• State rank: #237
• US rank: #5998

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wakefield, MI
• Population (ZIP): 2,305

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 (95%)
• Race & ethnicity: White 95% Two or more races 4% Hispanic / Latino 1%
• Common ancestry: Romanian 6% Lithuanian 5% Portuguese 3%
• Foreign-born: 1%
• Languages at home: 96% English-only · Other Indo-European 2% Spanish 1% German/W. Germanic 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: ▼ -17.61%
• Current HPI: 182.415
• 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

+104.0% since first listed

8 events — show timeline

• 2026-05-21 Listed $61,000 MiRealSource-MiMLS
• 2026-05-21 Listed $61,000 REALCOMP
• 2023-11-17 Sold (MLS) $27,500 UPAR
• 2023-11-17 Sold (MLS) $27,500 MiRealSource-MiMLS
• 2023-10-27 Pending — UPAR
• 2023-10-27 Pending — MiRealSource-MiMLS
• 2023-10-12 Listed $29,900 UPAR
• 2023-10-12 Listed $29,900 MiRealSource-MiMLS