515 7th StIron MountainMI49801
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThis is a cash-flow-light asset: 515 7th St, Iron Mountain, MI, 49801 in Iron Mountain, $112,900, 9.46% gross yield, $145/mo net income. Consider it a market-entry position, the $890/mo rent covers the $508/mo payment with a margin, and 5%/yr appreciation is projected to add $31,192 to the asset's value over five years. Ziffy Mortgage approves DSCR loans (coverage 1.75) for non-U.S. residents without domestic income documentation. Consider a higher down payment to widen the monthly margin. Total projected return: $52,397.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.5% | 7.0% |
| Monthly Cash Flow | $145 | $350 |
City averages based on Iron Mountain market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $890 |
| Total Monthly Debt Service | $700 |
| DSCR Ratio | 1.27x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1889
5,227 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1889
5,227 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: KELLY CHALLANCIN • LEEDS REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls ID: #50192062