195 Homan Lake RdIron RiverMI49935
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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 Iron River at 195 Homan Lake Rd, Iron River, MI, 49935 at $1,875,000 posts ROI 3.39% with from $3,767/mo rent. Total monthly income equals $3,767/mo. Return on cash invested measures 3.39% and rental yield reads 2.41% at the current $1,875,000. Equity gained on principal adds $12,099/yr, and 5% annual appreciation supports $518,028 by year five. Five-year ROI prints 14.69% and total cumulative return in cash totals $89,246. You can finance with Ziffy Mortgage’s DSCR loan, which relies on $3,767/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Single Family
Built in 2013
10.29 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
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Listed by: NICOLE HEBERT • KELLER WILLIAMS CLASSIC REALTY NW
Mls Name: GNMLS
Mls ID: #208855