509 S Tamarack 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 509 S Tamarack St, Iron Mountain, MI, 49801 uses $57,979 cash to close to unlock $6,764/yr annual cash flow and $564/mo monthly cash flow. Total monthly income runs $1,717/mo, and a $856/mo payment keeps the spread at $564/mo. Purchase price stands at $174,900, and rental yield measures 11.78% with $1,717/mo rent. Return on cash invested shows 31.58% in year one, and 5% annual appreciation builds toward $48,322 over five years. Five-year ROI reaches 165.95% and total cumulative return in cash records $96,216. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,717/mo property income covering a $856/mo payment rather than investor’s personal income.
Single Family
Built in 1922
5,662 sqft 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: NICOLLETTE HANSON • COLDWELL BANKER REAL ESTATE GROUP
Mls Name: Upper Peninsula AOR
Mls ID: #50196926