1012 W Hiawatha Rd #5Iron RiverMI49935
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Iron River at 1012 W Hiawatha Rd #5, Iron River, MI, 49935 listed at $145,000 pairs $1,020/mo rent with a $710/mo payment to leave $64/mo cash flow. Total monthly income runs $1,020/mo, and annual cash flow reaches $762/yr on $48,068 cash to close. Return on cash invested measures 21.49% in year one, and rental yield registers 8.44% at a $145,000 basis. Equity gained on principal adds $936/yr, and annual property appreciation at 5% supports $40,061 by year five. Five-year ROI tracks 111.93% and total cumulative return in cash totals $53,804. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,020/mo property income relative to a $710/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1950
0.51 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49935, Iron River, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,606 (100%) |
| Owner Occupied HU | 2,440 (53.0%) |
| Renter Occupied HU | 498 (10.8%) |
| Vacant Housing Units | 1,668 (36.2%) |
| Median Home Value | $117,798 |
| Average Home Value | $189,792 |
Housing Distribution
Address Breakdown
Residential
3,153
Single Family
2,969
Multi-Family
184
Businesses
277
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Listed by: NICOLE HEBERT • KELLER WILLIAMS CLASSIC REALTY NW
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50174531
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