214 S Steel StOntonagonMI49953
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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
Rental property for sale in Ontonagon at 214 S Steel St, Ontonagon, MI, 49953 generates $2,051/mo in rent and, after a $778/mo payment, leaves $482/mo in cash flow. Total monthly income is $2,051/mo, and annual cash flow is $5,779/yr on $52,709 invested. Return on cash invested sits at 30.87% in year one, and rental yield is 15.48% on a $159,000 entry. Equity gained on principal adds $1,026/yr, while 5% annual appreciation builds toward $43,929 over five years. Five-year ROI reaches 166.52% and total cumulative return in cash sums $87,768. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,051/mo property income rather than buyer’s personal income.
Single Family
Built in 1900
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49953, Ontonagon, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,189 (100%) |
| Owner Occupied HU | 1,157 (52.9%) |
| Renter Occupied HU | 168 ( 7.7%) |
| Vacant Housing Units | 864 (39.5%) |
| Median Home Value | $103,725 |
| Average Home Value | $143,174 |
Housing Distribution
Address Breakdown
Residential
1,297
Single Family
1,269
Multi-Family
28
Businesses
157
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Listed by: KAREN LAHTI • RE/MAX DOUGLASS R.E.-H
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50148702
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