116 W Cherry StWaylandMI49348
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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 Wayland at 116 W Cherry St, Wayland, MI, 49348 priced at $211,800 converts $2,006/mo rent into $602/mo cash flow after a $1,037/mo obligation. Total monthly income equals $2,006/mo, and annual cash flow totals $7,227/yr on $70,212 invested. Return on cash invested prints 30.2% in year one, and rental yield reads 11.37% against a $211,800 entry. Equity gained on principal adds $1,367/yr, while 5% annual appreciation compiles into $58,516 by year five. Five-year ROI reaches 158.66% and total cumulative return in cash sums $111,401. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,006/mo property income covering a $1,037/mo payment, not borrower’s personal income.
Single Family
Built in 1945
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49348, Wayland, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 6,099 (100%) |
| Owner Occupied HU | 4,611 (75.6%) |
| Renter Occupied HU | 1,091 (17.9%) |
| Vacant Housing Units | 397 ( 6.5%) |
| Median Home Value | $292,402 |
| Average Home Value | $347,766 |
Housing Distribution
Address Breakdown
Residential
5,778
Single Family
5,133
Multi-Family
645
Businesses
388
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