703 N Washington AveIron RiverMI49935
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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 Iron River at 703 N Washington Ave, Iron River, MI, 49935 priced at $219,900 converts $1,020/mo rent into after a $1,076/mo obligation. Total monthly income equals $1,020/mo. Return on cash invested prints 12.83% in year one, and rental yield reads 5.57% against a $219,900 entry. Equity gained on principal adds $1,419/yr, while 5% annual appreciation compiles into $60,754 by year five. Five-year ROI reaches 65.49% and total cumulative return in cash sums $47,740. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,020/mo property income covering a $1,076/mo payment, not borrower’s personal income.
Single Family
Built in 1906
0.29 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: STEPHEN REMONDINI • STEPHENS REAL ESTATE-IRON RIVER
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50173614
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.