815 Wells 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
Rental property for sale in Iron Mountain at 815 Wells St, Iron Mountain, MI, 49801 priced at $184,900 pairs $1,903/mo rent with $684/mo cash flow after a $905/mo payment. Total monthly income equals $1,903/mo, and annual cash flow comes to $8,204/yr on $61,294 invested. Return on cash invested is 33.29% in year one, and rental yield stands at 12.35% on a $184,900 basis. Equity gained on principal adds $1,193/yr, and 5% annual appreciation accumulates to $51,084 by year five. Five-year ROI measures 175.19% and total cumulative return in cash reaches $107,383. For financing, Ziffy Mortgage’s DSCR program evaluates $1,903/mo property income against a $905/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1916
0.26 Acres 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: KEVIN MELSHA • MULTI STATE REALTY
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50173396
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.