230 W Michigan AveIronwoodMI49938
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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 Ironwood at 230 W Michigan Ave, Ironwood, MI, 49938 at $189,900 posts ROI 26.03% with $321/mo cash flow from $1,573/mo rent. Total monthly income equals $1,573/mo, and annual cash flow records $3,854/yr on $62,952 to close. Return on cash invested measures 26.03% and rental yield reads 9.94% at the current $189,900. Equity gained on principal adds $1,225/yr, and 5% annual appreciation supports $52,466 by year five. Five-year ROI prints 136.26% and total cumulative return in cash totals $85,781.
You can finance with Ziffy Mortgage’s DSCR loan, which relies on $1,573/mo property income rather than your personal income records (W2s, Paystubs, and Tax returns).
Single Family
Built in 1950
0.28 Acres 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
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