16354 Grist Mill RdBaragaMI49908
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 16354 Grist Mill Rd, Baraga, MI, 49908 in Baraga at $199,000 earns $1,427/mo in rent and nets $114/mo after the $895/mo payment, a 8.6% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $54,980 over five years. Ziffy Mortgage underwrites this on a 1.59 DSCR without U.S. credit history. With $1,833/yr in principal paydown, total projected return reaches $83,202.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8.6% | 8.0% |
| Monthly Cash Flow | $114 | $350 |
City averages based on Baraga market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,427 |
| Total Monthly Debt Service | $1,233 |
| DSCR Ratio | 1.16x |
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 1910
60 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49908, Baraga, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,237 (100%) |
| Owner Occupied HU | 708 (57.2%) |
| Renter Occupied HU | 284 (23.0%) |
| Vacant Housing Units | 245 (19.8%) |
| Median Home Value | $150,952 |
| Average Home Value | $211,317 |
Housing Distribution
Address Breakdown
Residential
934
Single Family
839
Multi-Family
95
Businesses
89
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 1910
60 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49908, Baraga, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,237 (100%) |
| Owner Occupied HU | 708 (57.2%) |
| Renter Occupied HU | 284 (23.0%) |
| Vacant Housing Units | 245 (19.8%) |
| Median Home Value | $150,952 |
| Average Home Value | $211,317 |
Housing Distribution
Address Breakdown
Residential
934
Single Family
839
Multi-Family
95
Businesses
89
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: MARISA KAHKONEN • UP NORTH REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50162396
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.