615 N Lowell StIronwoodMI49938
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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 Ironwood at 615 N Lowell St, Ironwood, MI, 49938 offers $3,064/mo rent that, after a $1,542/mo payment, leaves $987/mo cash flow. Total monthly income is $3,064/mo, and annual cash flow is $11,838/yr on $104,423 cash. Return on cash invested measures 31.25% in year one, and rental yield stands at 11.67% at a $315,000 entry. Equity gained on principal adds $2,033/yr while 5% annual appreciation compounds into $87,029 by year five. Five-year ROI records 164.18% and total cumulative return in cash reaches $171,437. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,064/mo property income versus a $1,542/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1915
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49938, Ironwood, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,532 (100%) |
| Owner Occupied HU | 2,693 (59.4%) |
| Renter Occupied HU | 793 (17.5%) |
| Vacant Housing Units | 1,046 (23.1%) |
| Median Home Value | $104,877 |
| Average Home Value | $147,174 |
Housing Distribution
Address Breakdown
Residential
3,613
Single Family
3,320
Multi-Family
293
Businesses
345
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