231 E Chocolay StMunisingMI49862
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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 Munising at 231 E Chocolay St, Munising, MI, 49862 uses $72,930 cash to close to unlock $8,316/yr annual cash flow and $693/mo monthly cash flow. Total monthly income runs $2,144/mo, and a $1,077/mo payment keeps the spread at $693/mo. Purchase price stands at $220,000, and rental yield measures 11.69% with $2,144/mo rent. Return on cash invested shows 31.31% in year one, and 5% annual appreciation builds toward $60,782 over five years. Five-year ROI reaches 164.51% and total cumulative return in cash records $119,975. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,144/mo property income covering a $1,077/mo payment rather than investor’s personal income.
Single Family
Built in 1905
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49862, Munising, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,483 (100%) |
| Owner Occupied HU | 1,371 (55.2%) |
| Renter Occupied HU | 343 (13.8%) |
| Vacant Housing Units | 769 (31.0%) |
| Median Home Value | $173,115 |
| Average Home Value | $218,115 |
Housing Distribution
Address Breakdown
Residential
1,802
Single Family
1,658
Multi-Family
144
Businesses
217
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Listed by: AMY SCHIEDING • RE/MAX SUPERIORLAND
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50172321
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