Smoky Lake DrIron riverMI49935
INVESTMENT ANALYSIS
Investment Verdict
Appreciation PlaySmoky Lake Dr, Iron river, MI, 49935 in Iron river is priced for appreciation, not yield. Rental yield 1.44%. At $1,200,000 with a 1.44% gross yield, the monthly income is modest, but 5% annual price growth is projected to add $331,538 in value over five years, making equity the primary return driver. Ziffy Mortgage's DSCR mortgage (0.27) can still finance this property for non-U.S. residents; a 30–35% down payment typically produces the cleanest underwriting for appreciation-focused assets. Total projected cumulative return: $40,553.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 1.4% | 7.0% |
| Monthly Cash Flow | $(6,473) | $350 |
City averages based on Iron river market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,440 |
| Total Monthly Debt Service | $7,436 |
| DSCR Ratio | 0.19x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1991
19.25 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
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
Single Family
Built in 1991
19.25 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
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: THE MARTIN & DUMAS TEAM • REDMAN REALTY GROUP, LLC
Mls Name: GNMLS
Mls Provider:
Mls ID: #211737
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.