249 E 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 249 E Michigan Ave, Ironwood, MI, 49938 offers a 9.6% rental yield on a $120,000 purchase with $960/mo rent. Total monthly income registers $960/mo, and a $587/mo payment leaves $169/mo available for distribution. Annual cash flow reaches $2,028/yr on $39,780 to close, and return on cash invested stands at 25.01% in year one. Equity gained on principal adds $774/yr while 5% annual appreciation supports $33,154 over five years. Portfolio math shows five-year ROI at 130.7% and total cumulative return in cash at $51,991. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $960/mo property income against a $587/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1950
9,583 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
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Listed by: JOSEPH METZGER • SILVER PROPERTIES-EXP REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50175859
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.