220 W Railroad StMichigammeMI49861
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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 Michigamme at 220 W Railroad St, Michigamme, MI, 49861 with 5% annual appreciation on a $117,900 basis while $2,418/mo rent supports operations. Total monthly income totals $2,418/mo and a $577/mo payment preserves $1,641/mo for cash returns. Annual cash flow comes to $19,687/yr on $39,084 deployed, and return on cash invested reaches 70.28% in year one. Equity gained on principal adds $761/yr, and five-year appreciation sums $32,574 alongside rental yield of 24.61%. Five-year ROI measures 373.56% and total cumulative return in cash totals $146,000.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,418/mo property income versus a $577/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1900
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49861, Michigamme, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,371 (100%) |
| Owner Occupied HU | 466 (34.0%) |
| Renter Occupied HU | 49 ( 3.6%) |
| Vacant Housing Units | 856 (62.4%) |
| Median Home Value | $206,034 |
| Average Home Value | $245,445 |
Housing Distribution
Address Breakdown
Residential
281
Single Family
281
Multi-Family
0
Businesses
19
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Listed by: DANIEL MENARD • COLDWELL BANKER SCHMIDT REALTORS
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50152638
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