21887 E Ridge RdGrand MaraisMI49839
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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 Grand Marais at 21887 E Ridge Rd, Grand Marais, MI, 49839 generates $1,898/mo in rent, after a $1,468/mo payment. Total monthly income is $1,898/mo. Return on cash invested sits at 18.95% in year one, and rental yield is 7.59% on a $299,900 entry. Equity gained on principal adds $1,935/yr, while 5% annual appreciation builds toward $82,857 over five years. Five-year ROI reaches 98.23% and total cumulative return in cash sums $97,660. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,898/mo property income rather than buyer’s personal income.
Single Family
Built in 2006
1.06 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49839, Grand Marais, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 714 (100%) |
| Owner Occupied HU | 204 (28.6%) |
| Renter Occupied HU | 25 ( 3.5%) |
| Vacant Housing Units | 485 (67.9%) |
| Median Home Value | $206,250 |
| Average Home Value | $222,843 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
32
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Listed by: Molly Tavenner • Cap's Grand Marais Bucket List Realty
Mls Name: EUPBR
Mls Provider:
Mls ID: #24-359
Disclaimer: Copyright Eastern Upper Peninsula Board of Realtors. All rights reserved. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.