Real Estate Investing in Pelkie, Michigan (49958)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 49958 (Pelkie, 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: 53.4% 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 Pelkie, MI (49958)?
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Market Analysis: 49958 Pelkie
Turning to rents, ZIP 49958 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $163K median. It rewards specialists, not generalists.
Rent of $900/mo on a $163K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 49958 sits below the stated 0.0% once reality is priced in.
In the broader MI picture, 49958 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Demographically, 49958 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 49958 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Pelkie:
Market Trends
Home Value History (with trend line)
📊 How Does 49958 Compare?
| Metric | 49958 | Pelkie | Houghton, MI | Michigan |
|---|---|---|---|---|
| Home Value | $162,749 | $162,749 | N/A | $253,279 |
| 5-Year CAGR | 3.8% | 3.8% | N/A | 6.8% |
| Avg Rent | $900 | $900 | N/A | - |
| 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 49958 (Pelkie, MI). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $162,749 |
| Monthly Rent | $900 |
| Price-to-Rent | 15.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.6% |
| Cap Rate | 4.3% |
| 5-Year IRR | 8.2% |
📈 Home Appreciation
| 1-Year | +18.5% ▲ |
| 3-Year CAGR | +1.4% ▲ |
| 5-Year CAGR | +3.8% ▲ |
| 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 (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 49958
Population: 900
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
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is housing expensive in Pelkie, MI?
Pelkie, MI median home values land near $163K. That is reasonable territory for investors looking at $900/mo-per-month rentals.
Is Pelkie in MI worth investing in?
Investors tracking Pelkie, MI will find a 3.0/5 rating supported by $163K median home values and $900/mo rents. That profile suits long-term holders targeting predictable returns.
How do experienced investors play Pelkie, MI?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Pelkie, MI. The numbers - $163K homes against $900/mo rents - support that play.
How strict are landlord regulations in Pelkie, MI?
Pelkie, MI operates under MI law, which is landlord-friendly overall for landlords. Expect predictable treatment in typical lease and eviction cases.
What is the rental occupancy rate in Pelkie, MI?
Occupancy in Pelkie, MI runs stable with elevated vacancy. Well-priced units at $900/mo lease on reasonable timelines.
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How 49958 ranks in Houghton, MI
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