Real Estate Investing in Iron River, Michigan (49935)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49935 (Iron River, MI)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
Rare combination of both appreciation and cash flow. These markets don't last long — worth serious consideration.
- High vacancy: 41.7% 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 Iron River, MI (49935)?
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Market Analysis: 49935 Iron River
Not every below-median market is a bargain. Iron River's 49935 ZIP records signals that favor experienced operators who can absorb the risk $157K pricing implies.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $157K asset, 49935 is the wrong submarket. If the plan prices in friction, the yield can still work.
In the broader MI picture, 49935 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
From a cash-flow lens, 5,969 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The 49935 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Iron River:
Market Trends
Home Value History (with trend line)
📊 How Does 49935 Compare?
| Metric | 49935 | Iron River | Michigan |
|---|---|---|---|
| Home Value | $157,261 | $157,261 | $253,279 |
| 5-Year CAGR | 9.2% | 9.2% | 6.8% |
| Avg Rent | $990 | $990 | - |
| Cap Rate | 4.9% | 4.9% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 49935 (Iron River, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $157,261 |
| Monthly Rent | $990 |
| Price-to-Rent | 13.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.6% |
| Cap Rate | 4.9% |
| 5-Year IRR | 14.1% |
📈 Home Appreciation
| 1-Year | +18.6% ▲ |
| 3-Year CAGR | +12.4% ▲ |
| 5-Year CAGR | +9.2% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 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 (4.9%). 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 49935
Population: 5,969
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 49935
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
What is the rental occupancy rate in Iron River, MI?
Iron River, MI vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
How landlord-friendly is Iron River, MI?
The landlord environment in Iron River, MI is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What monthly rent should investors expect in Iron River, MI?
Average rent in Iron River, MI is approximately $990/mo per month. Against $157K home values that yields a reasonable rent-to-price ratio.
Does house hacking make sense in Iron River, MI?
House hacking works a challenging in Iron River, MI. Rents of $990/mo against $157K acquisition make the strategy solid for owner-occupants.
Should investors consider Iron River, MI?
The 3.0/5 investability rating in Iron River, MI reflects its $157K prices and $990/mo rents. Investors generally consider it a solid option within MI.
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