Why Is This Home Priced So Inexpensively? (U.P. Of MI)

[Rick-o]

I first noticed this property a few weeks ago and assumed the asking price was an error. It's still listed, and has been for over a year. 85K is about a third of the cost of what a home of this caliber is listed for.

Any "gotchas" you can see that I may have missed?

I've been combing the U.P. for the past few years looking for my "last retreat" before the big dirt nap. This place looks good, but ultimately, I want waterfront, preferably on the Great Lakes. However, the cheapskate in me says this is a screaming good deal. What say you?

http://www.zillow.com/homes/for_sale/MI/.../9_zm/2_p/?

[Racer X]

murder house?

[freeradical]

The heating bill is insane?

[Pam]

Looks like a well maintained rental. It may be that rental income is not what it used to be.

[jdc]

Looks like it hasnt been udpated inside in 30 years = underlying issues. Plumbing, electrical, structural.

Poor insulation, drafty single pane windows, etc.

3300 SF = a lot of upkeep for 1 person? looks like enough room for a huge family?

[AllGold]

My first thought was that it was out in the middle of nowhere and required a snowmobile or helicopter to get to in the winter, but that's obviously not the case. It's right next to the Big Powderhorn Ski Resort, very close to a state park and to Ironwood.

The only downside I can see is it might actually be kind of the opposite of "getting away" from everything; it might be in a high traffic, rowdy skier rental area.

[DP]

I'd say it's because it's Ironwood-it's not Vail, Steamboat, Park City, or Sun Valley. Would you live there all year round? For me it would be an 8 hour drive without any problems driving. Maybe 4 hours from Minneapolis but no big city nightlife any closer. 120" of snow during the 9-month Winter. It would need to be desirable to a very limited type of person.

I looked at it on Google Maps and the address doesn't jive. It shows a Snowflake Dr in Bessemer-not Ironwood- with a different zip code. The area looks like there's a ski spot called Big Powderhorn where this house is located; away from Ironwood. Something's screwy...

Perfect for someone in the Witness Protection Program.

[Kraniac]

Location? Haw far is it from necessary goods?
How's the water supply?
How old is the roof?
Appliances?
Window condition and type?

interior looks fairly well maintained...but pics don't say/show much about that generally, unless something's funky and pretty obvious


If it is, as you say..dirt rock cheap..there is a reason..unless the folks who own it are flush and want to get rid of it super quick..

How close are the ski areas..Iron Mt. eh? is that there?

Do people live year round near this house?

Schools and location and whatnot


Hmmm

I need a nap, Later tater.

[steve...]

The realtor has some other houses with low prices also. Any problem with just calling her?

[Numo]

Sumptin smells - maybe literally. But it's gotta sow-na.