1035 Wickman DrIron MountainMI49801
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowIf cash-on-cash performance is your primary filter, 1035 Wickman Dr, Iron Mountain, MI, 49801 in Iron Mountain deserves attention. This $498,500 property earns $4,494/mo in rent, a 10.82% gross yield, and nets $1,207/mo after the $2,242/mo payment. DSCR 2.00 makes it one of the cleaner DSCR underwriting candidates Ziffy Mortgage sees in this market. Five-year appreciation of $137,726 compounds alongside $4,591/yr in yearly equity build, for a total cumulative return of $267,542.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.8% | 7.0% |
| Monthly Cash Flow | $1,207 | $350 |
City averages based on Iron Mountain market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $4,494 |
| Total Monthly Debt Service | $3,089 |
| DSCR Ratio | 1.45x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1994
2.68 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1994
2.68 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices