1217 N 3rd StIshpemingMI49849
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowInvestors targeting immediate dollar income will find 1217 N 3rd St, Ishpeming, MI, 49849 in Ishpeming hard to pass up. The 12.16% gross yield on a $190,000 purchase results in $1,926/mo in rent and $673/mo in net cash, well above the spread required for Ziffy Mortgage's DSCR qualification (2.26). Annual cash flow of $8,076, five-year appreciation of $52,494, and $1,750/yr in equity build-up combine for a projected total cumulative return of $115,695.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 12.2% | 7.0% |
| Monthly Cash Flow | $673 | $350 |
City averages based on Ishpeming market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,926 |
| Total Monthly Debt Service | $1,177 |
| DSCR Ratio | 1.64x |
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 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
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 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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.