22019 E Everett AveGrand 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
Investment property for sale in Grand Marais at 22019 E Everett Ave, Grand Marais, MI, 49839 offers a 9.01% rental yield on a $199,000 purchase with $1,494/mo rent. Total monthly income registers $1,494/mo, and a $974/mo payment leaves $182/mo available for distribution. Annual cash flow reaches $2,180/yr on $65,969 to close, and return on cash invested stands at 23.21% in year one. Equity gained on principal adds $1,284/yr while 5% annual appreciation supports $54,980 over five years. Portfolio math shows five-year ROI at 121.08% and total cumulative return in cash at $79,878. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,494/mo property income against a $974/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1947
0.35 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: NICOLE DARROW • BIG LAKE REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50175916
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.