1507 Northwoods DrAlgerMI48610
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 Alger at 1507 Northwoods Dr, Alger, MI, 48610 priced at $164,000 pairs $2,089/mo rent with $1,007/mo cash flow after a $803/mo payment. Total monthly income equals $2,089/mo, and annual cash flow comes to $12,086/yr on $54,366 invested. Return on cash invested is 42.14% in year one, and rental yield stands at 15.29% on a $164,000 basis. Equity gained on principal adds $1,058/yr, and 5% annual appreciation accumulates to $45,310 by year five. Five-year ROI measures 222.66% and total cumulative return in cash reaches $121,053. For financing, Ziffy Mortgage’s DSCR program evaluates $2,089/mo property income against a $803/mo payment instead of your W2s, 1099s, or Tax returns.
Single Family
Built in 1960
0.33 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48610, Alger, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,636 (100%) |
| Owner Occupied HU | 1,295 (49.1%) |
| Renter Occupied HU | 172 ( 6.5%) |
| Vacant Housing Units | 1,169 (44.3%) |
| Median Home Value | $164,949 |
| Average Home Value | $197,278 |
Housing Distribution
Address Breakdown
Residential
1,752
Single Family
1,752
Multi-Family
0
Businesses
35
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Listed by: Jenifer Johnson • C.A.HANES REALTY- M33
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1926436
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 2024 Northern Great Lakes REALTORS MLS. All Rights Reserved.