186 N Elm StSpartaMI49345
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 Sparta at 186 N Elm St, Sparta, MI, 49345 priced at $226,500 converts $1,796/mo rent into $302/mo cash flow after a $1,109/mo obligation. Total monthly income equals $1,796/mo, and annual cash flow totals $3,623/yr on $75,085 invested. Return on cash invested prints 24.73% in year one, and rental yield reads 9.52% against a $226,500 entry. Equity gained on principal adds $1,462/yr, while 5% annual appreciation compiles into $62,578 by year five. Five-year ROI reaches 129.25% and total cumulative return in cash sums $97,044. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,796/mo property income covering a $1,109/mo payment, not borrower’s personal income.
Multi Family
Built in 1911
0.27 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49345, Sparta, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,478 (100%) |
| Owner Occupied HU | 4,521 (82.5%) |
| Renter Occupied HU | 800 (14.6%) |
| Vacant Housing Units | 157 ( 2.9%) |
| Median Home Value | $330,262 |
| Average Home Value | $362,473 |
Housing Distribution
Address Breakdown
Residential
5,414
Single Family
5,106
Multi-Family
308
Businesses
339
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