500 Fairbanks StIron MountainMI49801
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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 Iron Mountain at 500 Fairbanks St, Iron Mountain, MI, 49801 uses $65,803 cash to close to unlock $2,167/yr annual cash flow and $181/mo monthly cash flow. Total monthly income runs $1,490/mo, and a $972/mo payment keeps the spread at $181/mo. Purchase price stands at $198,500, and rental yield measures 9.01% with $1,490/mo rent. Return on cash invested shows 23.2% in year one, and 5% annual appreciation builds toward $54,842 over five years. Five-year ROI reaches 121.06% and total cumulative return in cash records $79,661. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,490/mo property income covering a $972/mo payment rather than investor’s personal income.
Single Family
Built in 1900
0.91 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49801, Iron Mountain, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,881 (100%) |
| Owner Occupied HU | 4,061 (69.1%) |
| Renter Occupied HU | 1,147 (19.5%) |
| Vacant Housing Units | 673 (11.4%) |
| Median Home Value | $178,357 |
| Average Home Value | $215,842 |
Housing Distribution
Address Breakdown
Residential
5,352
Single Family
5,196
Multi-Family
156
Businesses
755
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Listed by: JORDYN LEONARDUZZI • RE/MAX NORTH COUNTRY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50176173
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.