1535 W Franklin StIron RiverMI49935
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 1535 W Franklin St, Iron River, MI, 49935 in Iron River speaks for itself: 11.8% gross on a $155,000 price, generating $1,524/mo in rent and $502/mo in net income after the $697/mo debt service. DSCR 2.19, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $6,022 stacks alongside $42,824 in projected five-year appreciation and $1,428/yr in principal reduction. Projected total cumulative return: $91,374.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 11.8% | 7.0% |
| Monthly Cash Flow | $502 | $350 |
City averages based on Iron River market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,524 |
| Total Monthly Debt Service | $960 |
| DSCR Ratio | 1.59x |
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 1950
0.58 Acres lot
$N/A/sqft
No 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 1950
0.58 Acres lot
$N/A/sqft
No 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: GARY WATTERS • STEPHENS REAL ESTATE-IRON RIVER
Mls Name: Upper Peninsula AOR
Mls ID: #50187107