Real Estate Investing in Grand Marais, Michigan (49839)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49839 (Grand Marais, MI)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 71.0% of homes vacant — above national norms.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Grand Marais, MI (49839)?
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Market Analysis: 49839 Grand Marais
ZIP 49839 in Grand Marais, MI carries a healthy set of headwinds. Home values near $259K and rents of $954/mo sit inside a market where underwriting has to be tight.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $259K asset, 49839 is the wrong submarket. If the plan prices in friction, the yield can still work.
Turning to rents, 49839 offers a low basis, the region around Grand Marais has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 49839 ZIP's population of 284 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reports the need for careful underwriting.
Distressed ZIPs reward experience. durable returns are possible in 49839, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Grand Marais:
Market Trends
Home Value History (with trend line)
📊 How Does 49839 Compare?
| Metric | 49839 | Grand Marais | Michigan |
|---|---|---|---|
| Home Value | $258,631 | $258,631 | $253,279 |
| 5-Year CAGR | 10.0% | 10.0% | 6.8% |
| Avg Rent | $954 | $954 | - |
| Cap Rate | 2.9% | 2.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 49839 (Grand Marais, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $258,631 |
| Monthly Rent | $954 |
| Price-to-Rent | 22.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.4% |
| Cap Rate | 2.9% |
| 5-Year IRR | 12.9% |
📈 Home Appreciation
| 1-Year | +18.5% ▲ |
| 3-Year CAGR | +11.1% ▲ |
| 5-Year CAGR | +10.0% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 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 (2.9%). 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 49839
Population: 284
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
🎓 Schools in 49839
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
Do rentals sit vacant long in Grand Marais, MI?
Expect elevated vacancy in Grand Marais, MI. Rents at $954/mo are absorbed by the tenant base without meaningful lag.
How strong is the working-renter base in Grand Marais, MI?
The renter base in Grand Marais, MI is reasonable for the $954/mo price point. Screening well and pricing to market typically yields stable tenants.
Does Grand Marais, MI make sense for an investment property?
With a 3.0/5 investability score, Grand Marais, MI ranks as a solid market for rental property investors. Median prices of $259K and rents of $954/mo drive the underlying numbers.
Is Grand Marais, MI suited for a house hack?
The a challenging house-hack environment in Grand Marais, MI reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How should investors approach Grand Marais, MI?
Most investors in Grand Marais, MI run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
You know 49839 now. You don’t know where it ranks.
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