950 S Hemlock StIron MountainMI49801
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Iron Mountain at 950 S Hemlock St, Iron Mountain, MI, 49801 offers a 10.55% rental yield on a $295,000 purchase with $2,594/mo rent. Total monthly income registers $2,594/mo, and a $1,444/mo payment leaves $649/mo available for distribution. Annual cash flow reaches $7,782/yr on $97,793 to close, and return on cash invested stands at 27.87% in year one. Equity gained on principal adds $1,904/yr while 5% annual appreciation supports $81,503 over five years. Portfolio math shows five-year ROI at 146.07% and total cumulative return in cash at $142,850. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,594/mo property income against a $1,444/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1991
0.82 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: KELLY CHALLANCIN • LEEDS REAL ESTATE
Mls Name: Upper Peninsula AOR
Mls ID: #50195500