Real Estate Investing in Dollar Bay, Michigan (49922)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49922 (Dollar Bay, MI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 17.6% 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 Dollar Bay, MI (49922)?
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Market Analysis: 49922 Dollar Bay
The 49922 ZIP covers a section of Dollar Bay that demands careful diligence. Prices near $193K look accessible, but the work to make a deal cash flow is real.
Rent of $882/mo on a $193K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 49922 sits below the stated 0.0% once reality is priced in.
Turning to rents, 49922 offers a low basis, the region around Dollar Bay has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A robust renter share of 18% in 49922 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategically, 49922 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Dollar Bay:
Market Trends
Home Value History (with trend line)
📊 How Does 49922 Compare?
| Metric | 49922 | Dollar Bay | Houghton, MI | Michigan |
|---|---|---|---|---|
| Home Value | $193,428 | $193,428 | N/A | $253,279 |
| 5-Year CAGR | 5.6% | 5.6% | N/A | 6.8% |
| Avg Rent | $882 | $882 | N/A | - |
| Cap Rate | 3.6% | 3.6% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 49922 (Dollar Bay, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $193,428 |
| Monthly Rent | $882 |
| Price-to-Rent | 18.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.5% |
| Cap Rate | 3.6% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +19.2% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 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 (3.6%). 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 49922
Population: 837
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 49922
Schools in This ZIP Code
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
Barkell Elementary School
Hancock MiddleHigh School
Copper Country Learning Center
Career and Technical Education
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.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the median home value in Dollar Bay, MI?
Expect median prices around $193K in Dollar Bay, MI. The market has run at a 0.0% 5-year CAGR, so entry costs have been stable.
How strong is Dollar Bay, MI for real estate investors?
Dollar Bay, MI rates 3.0/5 for investability. With median values at $193K and rents near $882/mo, the market offers reasonable fundamentals for rental investors.
How strong is tenant demand in Dollar Bay, MI?
Dollar Bay, MI draws a reliable base of working renters. Demand at the $882/mo rent level is reasonable for standard single-family and small multi rentals.
How high is vacancy risk in Dollar Bay, MI?
Dollar Bay, MI carries elevated vacancy risk. Expect reliable absorption at market rents of $882/mo.
How strict are landlord regulations in Dollar Bay, MI?
Dollar Bay, MI operates under MI law, which is landlord-friendly overall for landlords. Expect consistent treatment in typical lease and eviction cases.
You know 49922 now. You don’t know where it ranks.
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How 49922 ranks in Houghton, MI
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