Gitche Manitou Island BchMichigammeMI49861
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlayGitche Manitou Island Bch, Michigamme, MI, 49861 in Michigamme is priced for appreciation, not yield. Rental yield 0%. At $173,000 with a 0% gross yield, the monthly income is modest, but 5% annual price growth is projected to add $47,797 in value over five years, making equity the primary return driver. Ziffy Mortgage's DSCR mortgage (0.00) can still finance this property for non-U.S. residents; a 30–35% down payment typically produces the cleanest underwriting for appreciation-focused assets.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 0% | 8.2% |
| Monthly Cash Flow | $0 | $400 |
City averages based on Michigamme market data in our database. Property projections are estimates.
Home Type Unknown
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49861, Michigamme, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,371 (100%) |
| Owner Occupied HU | 466 (34.0%) |
| Renter Occupied HU | 49 ( 3.6%) |
| Vacant Housing Units | 856 (62.4%) |
| Median Home Value | $206,034 |
| Average Home Value | $245,445 |
Housing Distribution
Address Breakdown
Residential
281
Single Family
281
Multi-Family
0
Businesses
19
Nearby investment properties with comparable rents
No similar rental properties found nearby.
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
Home Type Unknown
Built in N/A
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49861, Michigamme, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,371 (100%) |
| Owner Occupied HU | 466 (34.0%) |
| Renter Occupied HU | 49 ( 3.6%) |
| Vacant Housing Units | 856 (62.4%) |
| Median Home Value | $206,034 |
| Average Home Value | $245,445 |
Housing Distribution
Address Breakdown
Residential
281
Single Family
281
Multi-Family
0
Businesses
19
Nearby investment properties with comparable rents
No similar rental properties found nearby.
Nearby investment properties with comparable prices
Listed by: N/A • N/A
Mls Name: undefined
Mls ID: #N/A