1516 Forres AveSaint JosephMI49085
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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 Saint Joseph at 1516 Forres Ave, Saint Joseph, MI, 49085 generates $3,240/mo in rent and, after a $1,845/mo payment, leaves $754/mo in cash flow. Total monthly income is $3,240/mo, and annual cash flow is $9,049/yr on $124,976 invested. Return on cash invested sits at 27.15% in year one, and rental yield is 10.31% on a $377,000 entry. Equity gained on principal adds $2,433/yr, while 5% annual appreciation builds toward $104,158 over five years. Five-year ROI reaches 142.23% and total cumulative return in cash sums $177,751. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $3,240/mo property income rather than buyer’s personal income.
Single Family
Built in 1910
4,791 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49085, Saint Joseph, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,734 (100%) |
| Owner Occupied HU | 8,123 (69.2%) |
| Renter Occupied HU | 2,388 (20.4%) |
| Vacant Housing Units | 1,223 (10.4%) |
| Median Home Value | $316,036 |
| Average Home Value | $368,464 |
Housing Distribution
Address Breakdown
Residential
11,303
Single Family
10,112
Multi-Family
1,191
Businesses
1,141
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Listed by: Richard Shepardson • RE/MAX by the Lake
Mls Name: MichRIC
Mls ID: #25046828