1430 Coventry Close St #8East LansingMI48823
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeHigh DSCR is a competitive advantage at closing. 1430 Coventry Close St #8, East Lansing, MI, 48823 in East Lansing achieves 1.66, rent of $1,908/mo covers the $1,147/mo payment 1.5x over at $255,000. Rental yield 8.98%. That makes it both an efficient operational hold and a straightforward underwrite for Ziffy Mortgage's DSCR program. No domestic credit history or income documentation required. Appreciation at 5%/yr adds $70,452 over five years, with $2,349/yr in principal reduction bringing total projected return to $88,727.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 6.2% |
| Monthly Cash Flow | $(157) | $250 |
City averages based on East Lansing market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,908 |
| Total Monthly Debt Service | $1,963 |
| DSCR Ratio | 0.97x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1974
N/A lot
$N/A/sqft
$383 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48823, East Lansing, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,865 (100%) |
| Owner Occupied HU | 10,317 (39.9%) |
| Renter Occupied HU | 13,227 (51.1%) |
| Vacant Housing Units | 2,321 ( 9.0%) |
| Median Home Value | $296,966 |
| Average Home Value | $329,463 |
Housing Distribution
Address Breakdown
Residential
23,522
Single Family
14,377
Multi-Family
9,145
Businesses
1,219
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
Condo
Built in 1974
N/A lot
$N/A/sqft
$383 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48823, East Lansing, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,865 (100%) |
| Owner Occupied HU | 10,317 (39.9%) |
| Renter Occupied HU | 13,227 (51.1%) |
| Vacant Housing Units | 2,321 ( 9.0%) |
| Median Home Value | $296,966 |
| Average Home Value | $329,463 |
Housing Distribution
Address Breakdown
Residential
23,522
Single Family
14,377
Multi-Family
9,145
Businesses
1,219
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices