Real Estate Investing in Stephenson, Michigan (49821)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49821 (Stephenson, MI)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 44.3% of homes vacant — above national norms.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Stephenson, MI (49821)?
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Market Analysis: 49821 Stephenson
ZIP 49821 inside Menominee County looks affordable on the surface — median value of $194K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 49821 registers the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 49821 and stronger Stephenson ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Employment concentration in 49821 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
leans the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Stephenson:
Market Trends
Home Value History (with trend line)
📊 How Does 49821 Compare?
| Metric | 49821 | Stephenson | Marinette, WI-MI | Michigan |
|---|---|---|---|---|
| Home Value | $194,456 | $194,456 | N/A | $253,279 |
| 5-Year CAGR | N/A | N/A | N/A | 6.8% |
| Avg Rent | $1,296 | $1,296 | N/A | - |
| Cap Rate | 5.2% | 5.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 49821 (Stephenson, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $194,456 |
| Monthly Rent | $1,296 |
| Price-to-Rent | 12.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.0% |
| Cap Rate | 5.2% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +12.8% ▲ |
| 3-Year CAGR | +5.9% ▲ |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 49821
Population: 1,279
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
What price range are homes in Stephenson, MI?
The median home value in Stephenson, MI is roughly $194K. That puts it reasonable relative to the MI statewide average.
How much rent can I charge in Stephenson, MI?
Rents in Stephenson, MI run near $1,296/mo. Compared with median home prices of $194K that produces solid gross yields for typical rentals.
Is Stephenson, MI better for rentals, flips, or BRRRR?
For Stephenson, MI, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
How do landlord-tenant laws work in Stephenson, MI?
MI law landlord-friendly for landlords, and Stephenson inherits those rules. Investors should still review local ordinances for rental licensing.
Can I house hack in Stephenson, MI?
Stephenson, MI offers a challenging house-hacking opportunity. Small multifamily or rent-by-the-room plays can pair well with the $1,296/mo rent level.
You know 49821 now. You don’t know where it ranks.
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How 49821 ranks in Marinette, WI-MI
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