606 Walnut StNorwayMI49870
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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 Norway at 606 Walnut St, Norway, MI, 49870 uses $46,377 cash to close to unlock $1,802/yr annual cash flow and $150/mo monthly cash flow. Total monthly income runs $1,073/mo, and a $685/mo payment keeps the spread at $150/mo. Purchase price stands at $139,900, and rental yield measures 9.2% with $1,073/mo rent. Return on cash invested shows 23.79% in year one, and 5% annual appreciation builds toward $38,652 over five years. Five-year ROI reaches 124.31% and total cumulative return in cash records $57,651. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $1,073/mo property income covering a $685/mo payment rather than investor’s personal income.
Single Family
Built in 1907
7,405 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49870, Norway, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,591 (100%) |
| Owner Occupied HU | 1,119 (70.3%) |
| Renter Occupied HU | 315 (19.8%) |
| Vacant Housing Units | 157 ( 9.9%) |
| Median Home Value | $161,773 |
| Average Home Value | $196,988 |
Housing Distribution
Address Breakdown
Residential
1,481
Single Family
1,397
Multi-Family
84
Businesses
136
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Listed by: LUCAS DAVIDSON • MULTI STATE REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50164794
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.