Is Algoma, MI a good place to invest in rental property?

Algoma, MI has a median modeled monthly cash flow of $-1,696 and a median cap rate of 2.4%, on a median sold price of $475,000. Prices changed +2.5% year over year.

What is the average cap rate in Algoma, MI?

The median cap rate across recently sold homes in Algoma, MI is 2.4%, based on CashFlowRE's rent and expense modeling.

What is the median home price in Algoma, MI?

The median sold price in Algoma, MI is $475,000 (about $205 per square foot).

Investing in Algoma, MI Real Estate

A data-driven snapshot of the Algoma, MI rental-property market, built from recently sold homes and CashFlowRE's per-listing investment modeling — median price, cap rate, monthly cash flow, appreciation and inventory — so you can judge the market before you ever open a listing.

$475,000Median sold price

$205Median $/sqft

2.4%Median cap rate

$-1,696Modeled cash flow / mo

+2.5%Appreciation YoY

6.7Months of supply

79Active listings

142Sold (last 12 mo)

What the Algoma numbers say

In Algoma, MI, the median home sold for $475,000 (about $205 per square foot), and the typical deal models out to a 2.4% cap rate with a median $-1,696 of monthly cash flow. Sold prices moved +2.5% over the past year. Inventory sits at about 6.7 months of supply. These are medians across recorded sales; individual properties vary widely, which is exactly what CashFlowRE scores listing by listing.

Other Michigan markets to compare

See Algoma cash-flowing listings

CashFlowRE ranks every for-sale home in Algoma, MI by cap rate, cash-on-cash return, DSCR and monthly cash flow — so the best rental deals rise to the top. Create a free account to screen Algoma deals, or browse the national market data.