635 W Washington AveAlpenaMI49707
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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 Alpena at 635 W Washington Ave, Alpena, MI, 49707 generates $2,478/mo in rent, after a $2,814/mo payment. Total monthly income is $2,478/mo. Return on cash invested sits at 11.73% in year one, and rental yield is 5.17% on a $575,000 entry. Equity gained on principal adds $3,710/yr, while 5% annual appreciation builds toward $158,862 over five years. Five-year ROI reaches 59.48% and total cumulative return in cash sums $112,523. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,478/mo property income rather than buyer’s personal income.
Single Family
Built in N/A
0.74 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49707, Alpena, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,788 (100%) |
| Owner Occupied HU | 7,776 (66.0%) |
| Renter Occupied HU | 2,265 (19.2%) |
| Vacant Housing Units | 1,747 (14.8%) |
| Median Home Value | $150,147 |
| Average Home Value | $189,050 |
Housing Distribution
Address Breakdown
Residential
10,775
Single Family
10,102
Multi-Family
673
Businesses
1,047
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