329 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 329 W Washington Ave, Alpena, MI, 49707 priced at $249,900 pairs $1,800/mo rent with $152/mo cash flow after a $1,223/mo payment. Total monthly income equals $1,800/mo, and annual cash flow comes to $1,826/yr on $82,842 invested. Return on cash invested is 22.11% in year one, and rental yield stands at 8.64% on a $249,900 basis. Equity gained on principal adds $1,613/yr, and 5% annual appreciation accumulates to $69,043 by year five. Five-year ROI measures 115.25% and total cumulative return in cash reaches $95,474. For financing, Ziffy Mortgage’s DSCR program evaluates $1,800/mo property income against a $1,223/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1883
6,969 sqft lot
$N/A/sqft
No 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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