Real Estate Investing in Ontonagon, Michigan (49953)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49953 (Ontonagon, MI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 38.4% 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 Ontonagon, MI (49953)?
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Market Analysis: 49953 Ontonagon
ZIP 49953 in Ontonagon, MI carries a robust set of headwinds. Home values near $157K and rents of $873/mo sit inside a market where underwriting has to be tight.
Stepping back, the numbers look inviting — $157K purchase price, 0.0% nominal cap — the work to hit that pro forma in 49953 is substantial and deserves full respect.
Statewide comparisons place 49953 among MI's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A robust renter share of 17% in 49953 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. robust returns are possible in 49953, 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 Ontonagon:
Market Trends
Home Value History (with trend line)
📊 How Does 49953 Compare?
| Metric | 49953 | Ontonagon | Michigan |
|---|---|---|---|
| Home Value | $157,193 | $157,193 | $253,279 |
| 5-Year CAGR | 4.8% | 4.8% | 6.8% |
| Avg Rent | $873 | $873 | - |
| Cap Rate | 4.3% | 4.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 49953 (Ontonagon, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $157,193 |
| Monthly Rent | $873 |
| Price-to-Rent | 15.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.7% |
| Cap Rate | 4.3% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +18.9% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +4.8% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 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 (4.3%). 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 49953
Population: 2,261
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 49953
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
How does Ontonagon, MI rate as a rental market?
Ontonagon, MI rates 3.0/5 for investability. With median values at $157K and rents near $873/mo, the market offers reasonable fundamentals for rental investors.
What is the typical rental rate in Ontonagon, MI?
Investors in Ontonagon, MI typically see rents near $873/mo per month against $157K home values - a solid setup for rental cash flow.
Should investors worry about vacancy in Ontonagon, MI?
Vacancy in Ontonagon, MI is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $873/mo.
How do experienced investors play Ontonagon, MI?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Ontonagon, MI. The numbers - $157K homes against $873/mo rents - support that play.
What is the average home sale price in Ontonagon, MI?
Expect median prices around $157K in Ontonagon, MI. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
You know 49953 now. You don’t know where it ranks.
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