1023 River AveIron 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
Rental property for sale in Iron Mountain at 1023 River Ave, Iron Mountain, MI, 49801 offers $1,380/mo rent that, after a $920/mo payment, leaves $141/mo cash flow. Total monthly income is $1,380/mo, and annual cash flow is $1,687/yr on $62,289 cash. Return on cash invested measures 22.62% in year one, and rental yield stands at 8.81% at a $187,900 entry. Equity gained on principal adds $1,212/yr while 5% annual appreciation compounds into $51,913 by year five. Five-year ROI records 117.92% and total cumulative return in cash reaches $73,453. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,380/mo property income versus a $920/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Multi Family
Built in 1980
6,098 sqft 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: KIMBERLY WEBB • LEEDS REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50153110
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.