407 E Bonnie 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 407 E Bonnie St, Ironwood, MI, 49938 priced at $187,000 pairs $1,793/mo rent with $560/mo cash flow after a $915/mo payment. Total monthly income equals $1,793/mo, and annual cash flow comes to $6,721/yr on $61,991 invested. Return on cash invested is 30.75% in year one, and rental yield stands at 11.51% on a $187,000 basis. Equity gained on principal adds $1,207/yr, and 5% annual appreciation accumulates to $51,665 by year five. Five-year ROI measures 161.61% and total cumulative return in cash reaches $100,182. For financing, Ziffy Mortgage’s DSCR program evaluates $1,793/mo property income against a $915/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1900
0.40 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: SAMANTHA OLSON • ZAK'S REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50157284
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.