132 Ames StElk RapidsMI49629
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 Elk Rapids at 132 Ames St, Elk Rapids, MI, 49629 offers $1,571/mo rent that, after a $1,953/mo payment. Total monthly income is $1,571/mo. Return on cash invested measures 10.29% in year one, and rental yield stands at 4.72% at a $399,000 entry. Equity gained on principal adds $2,575/yr while 5% annual appreciation compounds into $110,236 by year five. Five-year ROI records 51.8% and total cumulative return in cash reaches $68,510. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,571/mo property income versus a $1,953/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Manufactured
Built in 1996
8,276 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49629, Elk Rapids, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,708 (100%) |
| Owner Occupied HU | 899 (52.6%) |
| Renter Occupied HU | 151 ( 8.8%) |
| Vacant Housing Units | 658 (38.5%) |
| Median Home Value | $372,701 |
| Average Home Value | $458,910 |
Housing Distribution
Address Breakdown
Residential
1,157
Single Family
1,026
Multi-Family
131
Businesses
247
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Erica Marshall • REO-TCFront-233021
Mls Name: NGLRMLS
Mls ID: #1940329