1679 Cady StErieMI48133
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 Erie at 1679 Cady St, Erie, MI, 48133 priced at $289,000 converts $1,958/mo rent into $52/mo cash flow after a $1,415/mo obligation. Total monthly income equals $1,958/mo, and annual cash flow totals $620/yr on $95,804 invested. Return on cash invested prints 20.56% in year one, and rental yield reads 8.13% against a $289,000 entry. Equity gained on principal adds $1,865/yr, while 5% annual appreciation compiles into $79,845 by year five. Five-year ROI reaches 106.86% and total cumulative return in cash sums $102,374. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,958/mo property income covering a $1,415/mo payment, not borrower’s personal income.
Single Family
Built in 1974
0.84 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48133, Erie, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,167 (100%) |
| Owner Occupied HU | 1,767 (81.5%) |
| Renter Occupied HU | 225 (10.4%) |
| Vacant Housing Units | 175 ( 8.1%) |
| Median Home Value | $236,638 |
| Average Home Value | $248,434 |
Housing Distribution
Address Breakdown
Residential
2,474
Single Family
2,474
Multi-Family
0
Businesses
131
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Listed by: Heidi Jenkins • RE/MAX Preferred Associates
Mls Name: MiRealSource
Mls Provider:
Mls ID: #50173864
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