615 Washington AveIron RiverMI49935
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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
Investment Highlights
Rental property for sale in Iron River at 615 Washington Ave, Iron River, MI, 49935 offers $1,516/mo rent that, after a $929/mo payment, leaves $264/mo cash flow. Total monthly income is $1,516/mo, and annual cash flow is $3,170/yr on $62,952 cash. Return on cash invested measures 24.94% in year one, and rental yield stands at 9.58% at a $189,900 entry. Equity gained on principal adds $1,225/yr while 5% annual appreciation compounds into $52,466 by year five. Five-year ROI records 130.45% and total cumulative return in cash reaches $82,121. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,516/mo property income versus a $929/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1916
0.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49935, Iron River, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,606 (100%) |
| Owner Occupied HU | 2,440 (53.0%) |
| Renter Occupied HU | 498 (10.8%) |
| Vacant Housing Units | 1,668 (36.2%) |
| Median Home Value | $117,798 |
| Average Home Value | $189,792 |
Housing Distribution
Address Breakdown
Residential
3,153
Single Family
2,969
Multi-Family
184
Businesses
277
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Listed by: ZACHARY GOODMAN • KELLER WILLIAMS CLASSIC REALTY NW
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50184712
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.