134 E Silver Lake Dr #15-16Iron RiverMI49935
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 8.12% yield at 134 E Silver Lake Dr #15-16, Iron River, MI, 49935 in Iron River is solid, but the $719/mo payment compresses net cash flow to $11/mo at $159,900. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $44,177 by year five, and $1,473/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.50) without U.S. income documentation. Total projected return: $50,743.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.1% | 7.0% |
| Monthly Cash Flow | $11 | $350 |
City averages based on Iron River market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,082 |
| Total Monthly Debt Service | $1,191 |
| DSCR Ratio | 0.91x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 1972
1.24 Acres lot
$N/A/sqft
$200 optional HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49935, Iron River, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,606 (100%) |
| Owner Occupied HU | 2,440 (53.0%) |
| Renter Occupied HU | 498 (10.8%) |
| Vacant Housing Units | 1,668 (36.2%) |
| Median Home Value | $117,798 |
| Average Home Value | $189,792 |
Housing Distribution
Address Breakdown
Residential
3,153
Single Family
2,969
Multi-Family
184
Businesses
277
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 1972
1.24 Acres lot
$N/A/sqft
$200 optional HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49935, Iron River, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,606 (100%) |
| Owner Occupied HU | 2,440 (53.0%) |
| Renter Occupied HU | 498 (10.8%) |
| Vacant Housing Units | 1,668 (36.2%) |
| Median Home Value | $117,798 |
| Average Home Value | $189,792 |
Housing Distribution
Address Breakdown
Residential
3,153
Single Family
2,969
Multi-Family
184
Businesses
277
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: PUNNER FRANZENE • U.P. RIVERLAND REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50154909
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.