625 Mine 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 625 Mine St, Norway, MI, 49870 with 5% annual appreciation on a $174,900 basis while $2,525/mo rent supports operations. Total monthly income totals $2,525/mo and a $856/mo payment preserves $1,372/mo for cash returns. Annual cash flow comes to $16,460/yr on $57,979 deployed, and return on cash invested reaches 48.3% in year one. Equity gained on principal adds $1,129/yr, and five-year appreciation sums $48,322 alongside rental yield of 17.32%. Five-year ROI measures 255.63% and total cumulative return in cash totals $148,212.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $2,525/mo property income versus a $856/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Single Family
Built in 1900
10,454 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: LINDA PLUMLEY • LEEDS REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50152102
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.