515 Harding AveIron 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
Rental property for sale in Iron Mountain at 515 Harding Ave, Iron Mountain, MI, 49801 priced at $175,000 converts $2,384/mo rent into $1,230/mo cash flow after a $857/mo obligation. Total monthly income equals $2,384/mo, and annual cash flow totals $14,754/yr on $58,013 invested. Return on cash invested prints 45.34% in year one, and rental yield reads 16.35% against a $175,000 entry. Equity gained on principal adds $1,129/yr, while 5% annual appreciation compiles into $48,349 by year five. Five-year ROI reaches 239.79% and total cumulative return in cash sums $139,111. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,384/mo property income covering a $857/mo payment, not borrower’s personal income.
Single Family
Built in 1971
0.25 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: JEFF HARRY • STEPHENS REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50173356
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