1217 N 3rd StIshpemingMI49849
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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 Ishpeming at 1217 N 3rd St, Ishpeming, MI, 49849 offers a 12.16% rental yield on a $190,000 purchase with $1,926/mo rent. Total monthly income registers $1,926/mo, and a $930/mo payment leaves $673/mo available for distribution. Annual cash flow reaches $8,076/yr on $62,985 to close, and return on cash invested stands at 32.73% in year one. Equity gained on principal adds $1,226/yr while 5% annual appreciation supports $52,494 over five years. Portfolio math shows five-year ROI at 172.1% and total cumulative return in cash at $108,396. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,926/mo property income against a $930/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1900
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49849, Ishpeming, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,962 (100%) |
| Owner Occupied HU | 4,105 (68.9%) |
| Renter Occupied HU | 1,012 (17.0%) |
| Vacant Housing Units | 845 (14.2%) |
| Median Home Value | $194,073 |
| Average Home Value | $267,105 |
Housing Distribution
Address Breakdown
Residential
5,231
Single Family
4,802
Multi-Family
429
Businesses
318
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Listed by: TRAVIS RYAN • FRESHDOOR REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50173140
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.