328 W Norrie StIronwoodMI49938
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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 Ironwood at 328 W Norrie St, Ironwood, MI, 49938 offers $1,258/mo rent that, after a $832/mo payment, leaves $137/mo cash flow. Total monthly income is $1,258/mo, and annual cash flow is $1,644/yr on $56,355 cash. Return on cash invested measures 22.83% in year one, and rental yield stands at 8.88% at a $170,000 entry. Equity gained on principal adds $1,097/yr while 5% annual appreciation compounds into $46,968 by year five. Five-year ROI records 119.03% and total cumulative return in cash reaches $67,077. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,258/mo property income versus a $832/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1890
0.51 Acres 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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Listed by: TRACY AMUNDSON • ZAK'S REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50177654
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.