106 Lake StBuchananMI49107
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Buchanan at 106 Lake St, Buchanan, MI, 49107 generates $2,212/mo in rent, after a $1,738/mo payment. Total monthly income is $2,212/mo. Return on cash invested sits at 18.59% in year one, and rental yield is 7.48% on a $355,000 entry. Equity gained on principal adds $2,291/yr, while 5% annual appreciation builds toward $98,080 over five years. Five-year ROI reaches 96.3% and total cumulative return in cash sums $113,328. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,212/mo property income rather than buyer’s personal income.
Single Family
Built in 1918
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49107, Buchanan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,615 (100%) |
| Owner Occupied HU | 3,148 (68.2%) |
| Renter Occupied HU | 868 (18.8%) |
| Vacant Housing Units | 599 (13.0%) |
| Median Home Value | $247,959 |
| Average Home Value | $345,785 |
Housing Distribution
Address Breakdown
Residential
4,492
Single Family
4,214
Multi-Family
278
Businesses
275
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