1551 Larkmore LnGrass LakeMI49240
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 Grass Lake at 1551 Larkmore Ln, Grass Lake, MI, 49240 priced at $125,000 converts $2,447/mo rent into $1,623/mo cash flow after a $612/mo obligation. Total monthly income equals $2,447/mo, and annual cash flow totals $19,470/yr on $41,438 invested. Return on cash invested prints 66.9% in year one, and rental yield reads 23.49% against a $125,000 entry. Equity gained on principal adds $807/yr, while 5% annual appreciation compiles into $34,535 by year five. Five-year ROI reaches 355.4% and total cumulative return in cash sums $147,269. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,447/mo property income covering a $612/mo payment, not borrower’s personal income.
Single Family
Built in 2019
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49240, Grass Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,858 (100%) |
| Owner Occupied HU | 3,252 (84.3%) |
| Renter Occupied HU | 289 ( 7.5%) |
| Vacant Housing Units | 317 ( 8.2%) |
| Median Home Value | $321,804 |
| Average Home Value | $356,895 |
Housing Distribution
Address Breakdown
Residential
3,700
Single Family
3,700
Multi-Family
0
Businesses
133
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Nearby investment properties with comparable prices
Listed by: Marilyn Ostrander • Southern Marsh Realty
Mls Name: MichRIC
Mls Provider:
Mls ID: #24051720
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.