515 7th 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 515 7th St, Iron Mountain, MI, 49801 uses $37,426 cash to close to unlock $1,741/yr annual cash flow and $145/mo monthly cash flow. Total monthly income runs $890/mo, and a $553/mo payment keeps the spread at $145/mo. Purchase price stands at $112,900, and rental yield measures 9.46% with $890/mo rent. Return on cash invested shows 24.56% in year one, and 5% annual appreciation builds toward $31,192 over five years. Five-year ROI reaches 128.44% and total cumulative return in cash records $48,070. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $890/mo property income covering a $553/mo payment rather than investor’s personal income.
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
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Listed by: KELLY CHALLANCIN • LEEDS REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls ID: #50192062