312 Iron StNorwayMI49870
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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 Norway at 312 Iron St, Norway, MI, 49870 uses $48,068 cash to close to unlock $1,698/yr annual cash flow and $142/mo monthly cash flow. Total monthly income runs $1,098/mo, and a $710/mo payment keeps the spread at $142/mo. Purchase price stands at $145,000, and rental yield measures 9.09% with $1,098/mo rent. Return on cash invested shows 23.44% in year one, and 5% annual appreciation builds toward $40,061 over five years. Five-year ROI reaches 122.34% and total cumulative return in cash records $58,808. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,098/mo property income covering a $710/mo payment rather than investor’s personal income.
Single Family
Built in 1895
5,662 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49870, Norway, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,591 (100%) |
| Owner Occupied HU | 1,119 (70.3%) |
| Renter Occupied HU | 315 (19.8%) |
| Vacant Housing Units | 157 ( 9.9%) |
| Median Home Value | $161,773 |
| Average Home Value | $196,988 |
Housing Distribution
Address Breakdown
Residential
1,481
Single Family
1,397
Multi-Family
84
Businesses
136
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