21898 Airport RdGrand MaraisMI49839
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayGlobal investors willing to prioritise equity over near-term yield will find 21898 Airport Rd, Grand Marais, MI, 49839 in Grand Marais worth study. Rental yield 1.8%. The 1.8% gross yield is below cash-flow benchmarks at $1,499,000, but 5% annual appreciation, adding $414,146 over five years, frames this as a capital growth position. Rent of $2,248/mo partially offsets the $6,740/mo payment. Ziffy Mortgage finances appreciation-play properties (0.33 DSCR) for non-U.S. residents without domestic income documentation; a 30–35% down payment maximises coverage. Total projected return: $79,612.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 1.8% | 6.5% |
| Monthly Cash Flow | $(7,638) | $450 |
City averages based on Grand Marais market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,248 |
| Total Monthly Debt Service | $9,289 |
| DSCR Ratio | 0.24x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, 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 2003
29.72 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
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 2003
29.72 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Krista Dudansky • Cap's Grand Marais Bucket List Realty
Mls Name: EUPBR
Mls ID: #25-1162