410 Quinnesec St · Iron Mountain, MI 49801

$79,900

2 bd · 2.0 ba · 792 sqft · SingleFamily public records · 31 Days on market

Built 1882 6,098 sqft lot Est $97k · 17% under

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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 +21.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.6/10.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom 2 bath home is just waiting for a new owner to give it some TLC. There is a main floor bedroom with attached bathroom that needs some work. Seller indicated that the shower and tub currently are not working but hasn't had a plumbing in to see what is wrong. Both bathrooms are on the main floor along with first floor laundry. 2 additional bedrooms on the second floor. Kitchen has been remodeled. Roof shingles 2007. Home went through a weatherization program and is well insulated. Appliances are included along with any remaining furniture can stay. There is a 10x20 shed along with an older shed and a deck along the side of the home. Check out this affordable home today.

Key facts

• 10x20 shed
• Attached bathroom
• First floor laundry

Tags

• MAIN FLOOR BEDROOM
• ATTACHED BATHROOM
• FIRST FLOOR LAUNDRY
• REMODELED KITCHEN
• WELL INSULATED
• 10X20 SHED

Property features AI

Exterior

• Utilities: Public water; Public sanitary sewer; Natural gas connected; Electricity connected; Cable available; Phone available
• Home design: Residential property; 1 1/2-story design; Built in 1882
• Construction: Vinyl siding; Basement foundation; Full, stone, unfinished basement
• Exterior features: Deck; Shed (outbuilding); Road frontage

Interior

• Kitchen: Kitchen on main level (13 x 6); Range/Oven; Microwave; Refrigerator; Other appliances/notes (see remarks)
• Bedrooms: Main-level bedroom (13 x 10); Second-level bedroom (9 x 14); Second-level bedroom (approx. 15 wide)
• Bathrooms: Two full bathrooms; Main-level full bathroom (5 x 8); Main-level full bathroom (10 x 10)
• Heating & cooling: Forced air heating; Wall/Window air conditioning; Electric water heater; Natural gas heating fuel
• Interior features: Window treatments; Entry
• Laundry & utility: Main-level laundry room (10 x 5); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $117 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($844 rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.3% in Iron Mountain — 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 73/100 on livability (#225 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, crime C-, employment D.
• Iron Mountain Public Schools (town): math 24% / reading 44% proficiency, ranked #316 of 540 in MI (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 72 active listings in the ZIP; 42 units permitted in Dickinson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dickinson County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1882 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1882 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.06% ✓
• Cap rate: 8.05%
• Cash-on-cash: 6.28%
• DSCR: 1.28
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $96,624
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Norway St	0.11mi	2/1.0	788 (-0%)	19mo	$85,000	$108	74
519 7th St	0.31mi	1/1.0 (-1)	820 (+4%)	7mo	$95,000	$116	65
100 W Lincoln St	0.55mi	2/1.0	822 (+4%)	5mo	$112,000	$136	60
803 E Margaret St	0.53mi	2/1.0	744 (-6%)	11mo	$130,000	$175	52
709 E A St	0.65mi	2/1.0	816 (+3%)	18mo	$75,000	$92	46
804 E Margaret St	0.56mi	3/1.0 (+1)	754 (-5%)	15mo	$91,800	$122	44
719 Kent St	0.73mi	2/1.5	880 (+11%)	8mo	$140,000	$159	39

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: -6.6%
• Equity multiple: 0.76×
• Total profit: $-5,476
• Equity at exit: $11,913

10-year hold

• IRR: 3.0%
• Equity multiple: 1.22×
• Total profit: $4,883
• Equity at exit: $6,908

Cash invested: $22,372 (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 49801

• Home prices YoY: -27.8%
• Active inventory: 72
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $844 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$98 /mo · $1,172/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$177
• Net cashflow: $117

Break-even live

Break-even rent $696

Max offer price $79,900

Occupancy floor 81%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $79,900 Active 31 DOM
2. 2026-06-17
   days on market $79,900 Active 30 DOM
3. 2026-06-16
   days on market $79,900 Active 29 DOM
4. 2026-06-15
   days on market $79,900 Active 28 DOM
5. 2026-06-13
   days on market $79,900 Active 26 DOM
6. 2026-06-12
   days on market $79,900 Active 25 DOM
7. 2026-06-09
   days on market $79,900 Active 22 DOM
8. 2026-06-08
   days on market $79,900 Active 21 DOM
9. 2026-06-07
   days on market $79,900 Active 20 DOM
10. 2026-06-07
    days on market $79,900 Active 19 DOM
11. 2026-06-04
    days on market $79,900 Active 16 DOM
12. 2026-06-02
    days on market $79,900 Active 15 DOM
13. 2026-06-01
    days on market $79,900 Active 14 DOM
14. 2026-05-31
    days on market $79,900 Active 13 DOM
15. 2026-05-31
    days on market $79,900 Active 12 DOM
16. 2026-05-18
    listed $79,900 Active 691-char remark

    Show marketing remark (691 chars)

    This 3-bedroom 2 bath home is just waiting for a new owner to give it some TLC. There is a main floor bedroom with attached bathroom that needs some work. Seller indicated that the shower and tub currently are not working but hasn't had a plumbing in to see what is wrong. Both bathrooms are on the main floor along with first floor laundry. 2 additional bedrooms on the second floor. Kitchen has been remodeled. Roof shingles 2007. Home went through a weatherization program and is well insulated. Appliances are included along with any remaining furniture can stay. There is a 10x20 shed along with an older shed and a deck along the side of the home. Check out this affordable home today.

17. 2026-05-18
    listed $79,900 Active 691-char remark

    Show marketing remark (691 chars)

    This 3-bedroom 2 bath home is just waiting for a new owner to give it some TLC. There is a main floor bedroom with attached bathroom that needs some work. Seller indicated that the shower and tub currently are not working but hasn't had a plumbing in to see what is wrong. Both bathrooms are on the main floor along with first floor laundry. 2 additional bedrooms on the second floor. Kitchen has been remodeled. Roof shingles 2007. Home went through a weatherization program and is well insulated. Appliances are included along with any remaining furniture can stay. There is a 10x20 shed along with an older shed and a deck along the side of the home. Check out this affordable home today.

ⓘ 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: $1,172 · $98/mo
• Projected year-2 tax: $1,201 · $100/mo
• Expected delta: +$29/yr (+$2/mo · 2.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $10,133
• − Mortgage interest: −$4,476
• − Property taxes: −$1,172
• − Insurance: −$400
• − Repairs & maintenance: −$811
• − Management: −$811
• − Depreciation: −$2,324
• Taxable income: $140
• Est. tax owed @ 24.0%: −$34
• After-tax cash flow: $1,372/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: Iron Mountain Public Schools
• NCES district ID: 2619410
• Math proficiency: 24% ▼ -7.00%
• Reading proficiency: 44% ▼ -5.00%
• Median HH income: $40,676
• Composite: 28.55/100
• National rank: #6729
• State rank: #316 of 540 in MI

Livability — Iron Mountain

• Score: 73/100
• State rank: #225
• US rank: #5664

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iron Mountain, MI
• Population (ZIP): 11,606

Population outlook (Dickinson County) Hauer SSP2

• Today (2025): 25,175 people
• By 2030: 24,647 · -2.1%
• By 2040: 23,176 · -7.9%
• By 2050: 21,605 · -14.2%
• By 2075: 18,429 · -26.8%
• By 2100: 14,394 · -42.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 3% Hispanic / Latino 2% Black 1% Native American 1%
• Common ancestry: Lithuanian 8% Romanian 7% Portuguese 3%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · Other Indo-European 1%

Political lean MEDSL · Dickinson

• 2024 margin: Solid R (+36.3) · D 31.1% · R 67.4% · Other 1.5%
• 2008→2024 swing: -28.4pp toward R · 2008: -7.9pp · 2024: -36.3pp
• All cycles: 2024: R+36.3 2020: R+33.4 2016: R+35.4 2012: R+21.4 2008: R+7.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -73.55%
• Current HPI: 191.087
• 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

2 events — show timeline

• 2026-05-18 Listed $79,900 MiRealSource-MiMLS
• 2026-05-18 Listed $79,900 UPAR

Property tax history

+0.3%/yr

Latest (2025): $1,172 · -10.5% YoY. Source: county tax records.