1609 Gilcrest AveEast LansingMI48823
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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 East Lansing at 1609 Gilcrest Ave, East Lansing, MI, 48823 offers a 8.14% rental yield on a $210,000 purchase with $1,425/mo rent. Total monthly income registers $1,425/mo, and a $1,028/mo payment leaves $40/mo available for distribution. Annual cash flow reaches $480/yr on $69,615 to close, and return on cash invested stands at 20.6% in year one. Equity gained on principal adds $1,355/yr while 5% annual appreciation supports $58,019 over five years. Portfolio math shows five-year ROI at 107.05% and total cumulative return in cash at $74,524. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,425/mo property income against a $1,028/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1951
0.37 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48823, East Lansing, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,865 (100%) |
| Owner Occupied HU | 10,317 (39.9%) |
| Renter Occupied HU | 13,227 (51.1%) |
| Vacant Housing Units | 2,321 ( 9.0%) |
| Median Home Value | $296,966 |
| Average Home Value | $329,463 |
Housing Distribution
Address Breakdown
Residential
23,522
Single Family
14,377
Multi-Family
9,145
Businesses
1,219
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Listed by: Mary Jo Stoliker • Real Estate One 1st
Mls Name: Greater Lansing AOR
Mls ID: #292538