1501 S Ruby LnLake LeelanauMI49653
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
Investment property for sale in Lake Leelanau at 1501 S Ruby Ln, Lake Leelanau, MI, 49653 listed at $1,099,000 pairs $3,766/mo rent with a $5,379/mo payment. Total monthly income runs $3,766/mo. Return on cash invested measures 8.64% in year one, and rental yield registers 4.11% at a $1,099,000 basis. Equity gained on principal adds $7,092/yr, and annual property appreciation at 5% supports $303,633 by year five. Five-year ROI tracks 42.85% and total cumulative return in cash totals $152,562. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $3,766/mo property income relative to a $5,379/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).
Single Family
Built in 1995
38.09 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49653, Lake Leelanau, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,490 (100%) |
| Owner Occupied HU | 806 (54.1%) |
| Renter Occupied HU | 125 ( 8.4%) |
| Vacant Housing Units | 559 (37.5%) |
| Median Home Value | $485,246 |
| Average Home Value | $640,037 |
Housing Distribution
Address Breakdown
Residential
882
Single Family
882
Multi-Family
0
Businesses
79
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Listed by: T. J. Shimek • The Mitten Real Estate Group
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1937418
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.