257 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 257 E Michigan Ave, Ironwood, MI, 49938 with 5% annual appreciation on a $115,000 basis while $875/mo rent supports operations. Total monthly income totals $875/mo and a $563/mo payment preserves $117/mo for cash returns. Annual cash flow comes to $1,398/yr on $38,123 deployed, and return on cash invested reaches 23.58% in year one. Equity gained on principal adds $742/yr, and five-year appreciation sums $31,772 alongside rental yield of 9.13%. Five-year ROI measures 123.1% and total cumulative return in cash totals $46,929.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $875/mo property income versus a $563/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1940
10,018 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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