230 W Frederick StIronwoodMI49938
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowSolid, durable, and financeable, 230 W Frederick St, Ironwood, MI, 49938 in Ironwood earns a 10.31% gross yield at $139,000. Rent of $1,194/mo nets $277/mo after the $625/mo mortgage. The 1.91 DSCR signals clean DSCR underwriting through Ziffy Mortgage, with no personal income verification required. Five-year value growth of $38,403 and $1,280/yr in equity accumulation project a total cumulative return of $70,820.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 8.2% |
| Monthly Cash Flow | $277 | $850 |
City averages based on Ironwood market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,194 |
| Total Monthly Debt Service | $861 |
| DSCR Ratio | 1.39x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, 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 1900
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49938, Ironwood, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,532 (100%) |
| Owner Occupied HU | 2,693 (59.4%) |
| Renter Occupied HU | 793 (17.5%) |
| Vacant Housing Units | 1,046 (23.1%) |
| Median Home Value | $104,877 |
| Average Home Value | $147,174 |
Housing Distribution
Address Breakdown
Residential
3,613
Single Family
3,320
Multi-Family
293
Businesses
345
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 1900
5,227 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49938, Ironwood, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,532 (100%) |
| Owner Occupied HU | 2,693 (59.4%) |
| Renter Occupied HU | 793 (17.5%) |
| Vacant Housing Units | 1,046 (23.1%) |
| Median Home Value | $104,877 |
| Average Home Value | $147,174 |
Housing Distribution
Address Breakdown
Residential
3,613
Single Family
3,320
Multi-Family
293
Businesses
345
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: ELLEN WYSSLING • THE REAL ESTATE STORE
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50147893
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.