157 Elvern DrColomaMI49038
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 Coloma at 157 Elvern Dr, Coloma, MI, 49038 priced at $256,000 converts $2,065/mo rent into $204/mo cash flow after a $1,253/mo obligation. Total monthly income equals $2,065/mo, and annual cash flow totals $2,443/yr on $84,864 invested. Return on cash invested prints 22.79% in year one, and rental yield reads 9.68% against a $256,000 entry. Equity gained on principal adds $1,652/yr, while 5% annual appreciation compiles into $70,728 by year five. Five-year ROI reaches 119.72% and total cumulative return in cash sums $101,602. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,065/mo property income covering a $1,253/mo payment, not borrower’s personal income.
Multi Family
Built in 1962
0.35 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49038, Coloma, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 4,920 (100%) |
| Owner Occupied HU | 2,972 (60.4%) |
| Renter Occupied HU | 747 (15.2%) |
| Vacant Housing Units | 1,201 (24.4%) |
| Median Home Value | $225,884 |
| Average Home Value | $297,148 |
Housing Distribution
Address Breakdown
Residential
4,279
Single Family
4,279
Multi-Family
0
Businesses
233
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