623 E East 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 623 E East St, Iron Mountain, MI, 49801 listed at $165,000 pairs $1,254/mo rent with a $808/mo payment to leave $166/mo cash flow. Total monthly income runs $1,254/mo, and annual cash flow reaches $1,986/yr on $54,698 cash to close. Return on cash invested measures 23.54% in year one, and rental yield registers 9.12% at a $165,000 basis. Equity gained on principal adds $1,065/yr, and annual property appreciation at 5% supports $45,586 by year five. Five-year ROI tracks 122.88% and total cumulative return in cash totals $67,211. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,254/mo property income relative to a $808/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1924
6,098 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: CONNIE SUTTON • NORTHERN HERITAGE
Mls Name: Upper Peninsula AOR
Mls ID: #50186599