1124 W Lakeshore DrManistiqueMI49854
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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 Manistique at 1124 W Lakeshore Dr, Manistique, MI, 49854 priced at $215,000 converts $2,388/mo rent into $971/mo cash flow after a $1,052/mo obligation. Total monthly income equals $2,388/mo, and annual cash flow totals $11,646/yr on $71,273 invested. Return on cash invested prints 36.25% in year one, and rental yield reads 13.33% against a $215,000 entry. Equity gained on principal adds $1,387/yr, while 5% annual appreciation compiles into $59,401 by year five. Five-year ROI reaches 191.03% and total cumulative return in cash sums $136,153. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,388/mo property income covering a $1,052/mo payment, not borrower’s personal income.
Single Family
Built in 1955
2.52 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49854, Manistique, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,252 (100%) |
| Owner Occupied HU | 2,376 (55.9%) |
| Renter Occupied HU | 531 (12.5%) |
| Vacant Housing Units | 1,345 (31.6%) |
| Median Home Value | $169,543 |
| Average Home Value | $207,394 |
Housing Distribution
Address Breakdown
Residential
3,074
Single Family
2,895
Multi-Family
179
Businesses
278
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Listed by: JULIE BARR • KELLER WILLIAMS NM PENINSULA PARTNERS
Mls Name: Upper Peninsula AOR
Mls Provider:
Mls ID: #50148296
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