300 W Washington AveAlpenaMI49707
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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
Rental property for sale in Alpena at 300 W Washington Ave, Alpena, MI, 49707 priced at $264,900 converts $1,266/mo rent into after a $1,297/mo obligation. Total monthly income equals $1,266/mo. Return on cash invested prints 6.5% in year one, and rental yield reads 5.73% against a $264,900 entry. Equity gained on principal adds $1,709/yr, while 5% annual appreciation compiles into $73,187 by year five. Five-year ROI reaches 33.95% and total cumulative return in cash sums $29,816. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,266/mo property income covering a $1,297/mo payment, not borrower’s personal income.
Townhouse
Built in 1981
N/A lot
$N/A/sqft
$500 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49707, Alpena, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,788 (100%) |
| Owner Occupied HU | 7,776 (66.0%) |
| Renter Occupied HU | 2,265 (19.2%) |
| Vacant Housing Units | 1,747 (14.8%) |
| Median Home Value | $150,147 |
| Average Home Value | $189,050 |
Housing Distribution
Address Breakdown
Residential
10,775
Single Family
10,102
Multi-Family
673
Businesses
1,047
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Listed by: Paul A Momrik • CENTURY 21 NORTHLAND of ALPENA
Mls Name: WWMLS
Mls Provider:
Mls ID: #201834463
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