1338 Leonard RdMancelonaMI49659
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 Mancelona at 1338 Leonard Rd, Mancelona, MI, 49659 priced at $229,000 converts $1,551/mo rent into $41/mo cash flow after a $1,121/mo obligation. Total monthly income equals $1,551/mo, and annual cash flow totals $488/yr on $75,914 invested. Return on cash invested prints 20.55% in year one, and rental yield reads 8.13% against a $229,000 entry. Equity gained on principal adds $1,478/yr, while 5% annual appreciation compiles into $63,268 by year five. Five-year ROI reaches 106.83% and total cumulative return in cash sums $81,101. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,551/mo property income covering a $1,121/mo payment, not borrower’s personal income.
Manufactured
Built in 1981
0.81 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49659, Mancelona, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,599 (100%) |
| Owner Occupied HU | 2,407 (52.3%) |
| Renter Occupied HU | 437 ( 9.5%) |
| Vacant Housing Units | 1,755 (38.2%) |
| Median Home Value | $167,432 |
| Average Home Value | $208,685 |
Housing Distribution
Address Breakdown
Residential
2,679
Single Family
2,663
Multi-Family
16
Businesses
136
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Nearby investment properties with comparable prices
Listed by: Pam Sibary • Coldwell Banker Schmidt-Cadillac
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1928984
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2025 Northern Great Lakes REALTORS MLS. All Rights Reserved.