327 W Lake StMichigammeMI49861
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 Michigamme at 327 W Lake St, Michigamme, MI, 49861 priced at $131,000 converts $2,057/mo rent into $1,193/mo cash flow after a $641/mo obligation. Total monthly income equals $2,057/mo, and annual cash flow totals $14,320/yr on $43,427 invested. Return on cash invested prints 52.88% in year one, and rental yield reads 18.84% against a $131,000 entry. Equity gained on principal adds $845/yr, while 5% annual appreciation compiles into $36,193 by year five. Five-year ROI reaches 280.29% and total cumulative return in cash sums $121,721. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,057/mo property income covering a $641/mo payment, not borrower’s personal income.
Single Family
Built in 1972
0.51 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49861, Michigamme, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,371 (100%) |
| Owner Occupied HU | 466 (34.0%) |
| Renter Occupied HU | 49 ( 3.6%) |
| Vacant Housing Units | 856 (62.4%) |
| Median Home Value | $206,034 |
| Average Home Value | $245,445 |
Housing Distribution
Address Breakdown
Residential
281
Single Family
281
Multi-Family
0
Businesses
19
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Listed by: DANIEL MENARD • COLDWELL BANKER SCHMIDT REALTORS
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50155521
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