16640 Letteau RdBear LakeMI49614
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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
Investment property for sale in Bear Lake at 16640 Letteau Rd, Bear Lake, MI, 49614 offers a 5.37% rental yield on a $339,000 purchase with $1,516/mo rent. 23% in year one. Equity gained on principal adds $2,188/yr while 5% annual appreciation supports $93,659 over five years. Portfolio math shows five-year ROI at 62.19% and total cumulative return in cash at $69,892. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,516/mo property income against a $1,659/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1919
28.73 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49614, Bear Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,954 (100%) |
| Owner Occupied HU | 1,169 (59.8%) |
| Renter Occupied HU | 108 ( 5.5%) |
| Vacant Housing Units | 677 (34.6%) |
| Median Home Value | $254,448 |
| Average Home Value | $296,373 |
Housing Distribution
Address Breakdown
Residential
1,406
Single Family
1,405
Multi-Family
1
Businesses
67
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Listed by: Barbara Hood • REO-TCRandolph-233022
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1935005
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2025 Northern Great Lakes REALTORS MLS. All Rights Reserved.