205 N 2nd StManistiqueMI49854
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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 Manistique at 205 N 2nd St, Manistique, MI, 49854 offers a 9.19% rental yield on a $129,000 purchase with $988/mo rent. Total monthly income registers $988/mo, and a $631/mo payment leaves $138/mo available for distribution. Annual cash flow reaches $1,652/yr on $42,764 to close, and return on cash invested stands at 23.77% in year one. Equity gained on principal adds $832/yr while 5% annual appreciation supports $35,640 over five years. Portfolio math shows five-year ROI at 124.12% and total cumulative return in cash at $53,077. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $988/mo property income against a $631/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1900
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49854, Manistique, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,252 (100%) |
| Owner Occupied HU | 2,376 (55.9%) |
| Renter Occupied HU | 531 (12.5%) |
| Vacant Housing Units | 1,345 (31.6%) |
| Median Home Value | $169,543 |
| Average Home Value | $207,394 |
Housing Distribution
Address Breakdown
Residential
3,074
Single Family
2,895
Multi-Family
179
Businesses
278
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Listed by: LORI KEINATH • GROVER REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50180741
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.