10289 N Lake RdIronwoodMI49938
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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 Ironwood at 10289 N Lake Rd, Ironwood, MI, 49938 uses $82,842 cash to close to unlock $1,022/yr annual cash flow and $85/mo monthly cash flow. Total monthly income runs $1,733/mo, and a $1,223/mo payment keeps the spread at $85/mo. Purchase price stands at $249,900, and rental yield measures 8.32% with $1,733/mo rent. Return on cash invested shows 21.14% in year one, and 5% annual appreciation builds toward $69,043 over five years. Five-year ROI reaches 110.03% and total cumulative return in cash records $91,154. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,733/mo property income covering a $1,223/mo payment rather than investor’s personal income.
Single Family
Built in 1952
1.06 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49938, Ironwood, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,532 (100%) |
| Owner Occupied HU | 2,693 (59.4%) |
| Renter Occupied HU | 793 (17.5%) |
| Vacant Housing Units | 1,046 (23.1%) |
| Median Home Value | $104,877 |
| Average Home Value | $147,174 |
Housing Distribution
Address Breakdown
Residential
3,613
Single Family
3,320
Multi-Family
293
Businesses
345
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Listed by: WENDY ROUTHEAUX • SILVER PROPERTIES-EXP REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50179615
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.