1302 N 3rd StIshpemingMI49849
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
Investment Highlights
Investment property for sale in Ishpeming at 1302 N 3rd St, Ishpeming, MI, 49849 uses $72,068 cash to close to unlock $483/yr annual cash flow and $40/mo monthly cash flow. Total monthly income runs $1,509/mo, and a $1,064/mo payment keeps the spread at $40/mo. Purchase price stands at $217,400, and rental yield measures 8.33% with $1,509/mo rent. Return on cash invested shows 20.58% in year one, and 5% annual appreciation builds toward $60,064 over five years. Five-year ROI reaches 107.23% and total cumulative return in cash records $77,279. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,509/mo property income covering a $1,064/mo payment rather than investor’s personal income.
Single Family
Built in 1900
9,147 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: FRAN SEVEGNEY • RE/MAX 1ST REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50176221
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.