198 W Spruce StSaint IgnaceMI49781
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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
Rental property for sale in Saint Ignace at 198 W Spruce St, Saint Ignace, MI, 49781 generates $1,999/mo in rent, after a $1,835/mo payment. Total monthly income is $1,999/mo. Return on cash invested sits at 15.34% in year one, and rental yield is 6.4% on a $375,000 entry. Equity gained on principal adds $2,420/yr, while 5% annual appreciation builds toward $103,606 over five years. Five-year ROI reaches 78.87% and total cumulative return in cash sums $98,043. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $1,999/mo property income rather than buyer’s personal income.
Single Family
Built in 1977
0.34 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49781, Saint Ignace, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,663 (100%) |
| Owner Occupied HU | 1,415 (53.1%) |
| Renter Occupied HU | 507 (19.0%) |
| Vacant Housing Units | 741 (27.8%) |
| Median Home Value | $170,180 |
| Average Home Value | $232,984 |
Housing Distribution
Address Breakdown
Residential
1,947
Single Family
1,766
Multi-Family
181
Businesses
232
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Listed by: Chad J Anderson • Berkshire Hathaway HomeServices-Cheboygan
Mls Name: WWMLS
Mls ID: #201838064