302 Portage StHoughtonMI49931
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
Rental property for sale in Houghton at 302 Portage St, Houghton, MI, 49931 priced at $250,000 converts $3,799/mo rent into $2,150/mo cash flow after a $1,224/mo obligation. Total monthly income equals $3,799/mo, and annual cash flow totals $25,800/yr on $82,875 invested. Return on cash invested prints 51.04% in year one, and rental yield reads 18.24% against a $250,000 entry. Equity gained on principal adds $1,613/yr, while 5% annual appreciation compiles into $69,070 by year five. Five-year ROI reaches 270.3% and total cumulative return in cash sums $224,014. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,799/mo property income covering a $1,224/mo payment, not borrower’s personal income.
Single Family
Built in 1900
0.31 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49931, Houghton, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,494 (100%) |
| Owner Occupied HU | 1,541 (44.1%) |
| Renter Occupied HU | 1,514 (43.3%) |
| Vacant Housing Units | 439 (12.6%) |
| Median Home Value | $250,764 |
| Average Home Value | $265,490 |
Housing Distribution
Address Breakdown
Residential
3,565
Single Family
2,608
Multi-Family
957
Businesses
489
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: DAVID JUKURI • CENTURY 21 AFFILIATED
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50151932
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.