706 Midway AveIronwoodMI49938
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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 Ironwood at 706 Midway Ave, Ironwood, MI, 49938 uses $53,007 cash to close to unlock $15,578/yr annual cash flow and $1,298/mo monthly cash flow. Total monthly income runs $2,353/mo, and a $783/mo payment keeps the spread at $1,298/mo. Purchase price stands at $159,900, and rental yield measures 17.66% with $2,353/mo rent. Return on cash invested shows 49.3% in year one, and 5% annual appreciation builds toward $44,177 over five years. Five-year ROI reaches 261.06% and total cumulative return in cash records $138,378. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,353/mo property income covering a $783/mo payment rather than investor’s personal income.
Single Family
Built in 1950
0.68 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49938, Ironwood, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,532 (100%) |
| Owner Occupied HU | 2,693 (59.4%) |
| Renter Occupied HU | 793 (17.5%) |
| Vacant Housing Units | 1,046 (23.1%) |
| Median Home Value | $104,877 |
| Average Home Value | $147,174 |
Housing Distribution
Address Breakdown
Residential
3,613
Single Family
3,320
Multi-Family
293
Businesses
345
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Listed by: WENDY ROUTHEAUX • SILVER PROPERTIES-EXP REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50148794
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