116 E Newark StITHACAMI48847
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 ITHACA at 116 E Newark St, ITHACA, MI, 48847 priced at $170,000 converts $1,178/mo rent into $57/mo cash flow after a $832/mo obligation. Total monthly income equals $1,178/mo, and annual cash flow totals $684/yr on $56,355 invested. Return on cash invested prints 21.12% in year one, and rental yield reads 8.32% against a $170,000 entry. Equity gained on principal adds $1,097/yr, while 5% annual appreciation compiles into $46,968 by year five. Five-year ROI reaches 109.87% and total cumulative return in cash sums $61,917. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,178/mo property income covering a $832/mo payment, not borrower’s personal income.
Single Family
Built in 1900
9,147 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48847, Ithaca, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,615 (100%) |
| Owner Occupied HU | 1,866 (71.4%) |
| Renter Occupied HU | 523 (20.0%) |
| Vacant Housing Units | 226 ( 8.6%) |
| Median Home Value | $169,856 |
| Average Home Value | $200,805 |
Housing Distribution
Address Breakdown
Residential
2,528
Single Family
2,462
Multi-Family
66
Businesses
239
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices