511 W Ice Lake RdIron RiverMI49935
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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 River at 511 W Ice Lake Rd, Iron River, MI, 49935 uses $62,654 cash to close to unlock $2,624/yr annual cash flow and $219/mo monthly cash flow. Total monthly income runs $1,465/mo, and a $925/mo payment keeps the spread at $219/mo. Purchase price stands at $189,000, and rental yield measures 9.3% with $1,465/mo rent. Return on cash invested shows 24.1% in year one, and 5% annual appreciation builds toward $52,217 over five years. Five-year ROI reaches 125.83% and total cumulative return in cash records $78,838. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,465/mo property income covering a $925/mo payment rather than investor’s personal income.
Single Family
Built in 1938
10.80 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49935, Iron River, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,606 (100%) |
| Owner Occupied HU | 2,440 (53.0%) |
| Renter Occupied HU | 498 (10.8%) |
| Vacant Housing Units | 1,668 (36.2%) |
| Median Home Value | $117,798 |
| Average Home Value | $189,792 |
Housing Distribution
Address Breakdown
Residential
3,153
Single Family
2,969
Multi-Family
184
Businesses
277
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Listed by: STEPHEN REMONDINI • STEPHENS REAL ESTATE
Mls Name: GNMLS
Mls ID: #215251