1022 N Evergreen DrIron MountainMI49801
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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 Mountain at 1022 N Evergreen Dr, Iron Mountain, MI, 49801 offers a 9.24% rental yield on a $465,000 purchase with $3,582/mo rent. Total monthly income registers $3,582/mo, and a $2,276/mo payment leaves $516/mo available for distribution. Annual cash flow reaches $6,186/yr on $154,148 to close, and return on cash invested stands at 23.92% in year one. Equity gained on principal adds $3,001/yr while 5% annual appreciation supports $128,471 over five years. Portfolio math shows five-year ROI at 124.89% and total cumulative return in cash at $192,515. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $3,582/mo property income against a $2,276/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1988
0.51 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49801, Iron Mountain, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,881 (100%) |
| Owner Occupied HU | 4,061 (69.1%) |
| Renter Occupied HU | 1,147 (19.5%) |
| Vacant Housing Units | 673 (11.4%) |
| Median Home Value | $178,357 |
| Average Home Value | $215,842 |
Housing Distribution
Address Breakdown
Residential
5,352
Single Family
5,196
Multi-Family
156
Businesses
755
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Listed by: TAYLOR LINDHOLM • STEPHENS REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls ID: #50184607