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Preforeclosure Homes in Ontonagon, MI 49953

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Living in Ontonagon, MI

Ontonagon, MI, situated on the shores of Lake Superior, is a captivating location known for its breathtaking natural beauty and outdoor recreational opportunities. It boasts a low cost of living and a close-knit community atmosphere, with essential amenities and historical charm. Residents can enjoy local festivals and explore scenic parks, making it an ideal area for nature lovers and families alike.

Current Market Conditions in Ontonagon, MI

The real estate market in Ontonagon is experiencing a gradual upswing, with an increasing number of buyers looking for affordable homes amidst the beautiful landscapes of the Upper Peninsula. This presents a unique opportunity for investors to acquire properties in a desirable location at reasonable prices.

Median home prices remain relatively low, making it an attractive option for first-time homebuyers and retirees. Given the town's appeal as a recreational hub, long-term investment in rental properties could yield lucrative returns due to the influx of tourists and outdoor enthusiasts throughout the year.

Home Value Estimator For Ontonagon, MI

There are currently 1,475 real estate properties in Ontonagon, MI, with a median automated valuation model (AVM) price of $116,401.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Ontonagon, MI, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Ontonagon, MI, is $144,737.00, with the most expensive house in Ontonagon, MI, topping out at $1,436,000.00 and the cheapest home in Ontonagon, MI, clocking in at $27,174.00. In other words, there’s something for every potential homebuyer or savvy investor in Ontonagon, MI!

Rent Prices In Ontonagon, MI

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Ontonagon, MI, is on a rollercoaster ride. The average rent price in Ontonagon, MI, is $1,382.00. Indeed, when looking to rent in Ontonagon, MI, you can expect to pay as little as $800.00 or as much as $2,140.00, with the average rent median estimated to be $1,400.00. The good news is that finding an affordable and desirable property to rent in Ontonagon, MI -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.

Ontonagon, MI 49953 Preforeclosure Homes


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