24760 Ruth Lake RdMichigammeMI49861
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
Investment Highlights
Investment property for sale in Michigamme at 24760 Ruth Lake Rd, Michigamme, MI, 49861 listed at $369,900 pairs $1,572/mo rent with a $1,810/mo payment. Total monthly income runs $1,572/mo. Return on cash invested measures 11.43% in year one, and rental yield registers 5.1% at a $369,900 basis. Equity gained on principal adds $2,387/yr, and annual property appreciation at 5% supports $102,197 by year five. Five-year ROI tracks 57.91% and total cumulative return in cash totals $71,014. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,572/mo property income relative to a $1,810/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1958
1.07 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: KELLIE A HILLIER-GENSCHAW • RE/MAX 1ST REALTY
Mls Name: Upper Peninsula AOR
Mls ID: #50184908