1576 S Lake Mitchell DrCadillacMI49601
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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
Investment property for sale in Cadillac at 1576 S Lake Mitchell Dr, Cadillac, MI, 49601 offers a 4.76% rental yield on a $674,900 purchase with $2,677/mo rent. 48% in year one. Equity gained on principal adds $4,355/yr while 5% annual appreciation supports $186,462 over five years. Portfolio math shows five-year ROI at 52.77% and total cumulative return in cash at $117,163. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $2,677/mo property income against a $3,303/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1937
0.36 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49601, Cadillac, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,792 (100%) |
| Owner Occupied HU | 6,921 (64.1%) |
| Renter Occupied HU | 2,336 (21.6%) |
| Vacant Housing Units | 1,535 (14.2%) |
| Median Home Value | $181,348 |
| Average Home Value | $216,653 |
Housing Distribution
Address Breakdown
Residential
9,540
Single Family
9,123
Multi-Family
417
Businesses
1,025
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