20119 Merritt AveChippewa LakeMI49320
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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 Chippewa Lake at 20119 Merritt Ave, Chippewa Lake, MI, 49320 offers a 5.07% rental yield on a $450,000 purchase with $1,901/mo rent. 33% in year one. Equity gained on principal adds $2,904/yr while 5% annual appreciation supports $124,327 over five years. Portfolio math shows five-year ROI at 57.34% and total cumulative return in cash at $85,530. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,901/mo property income against a $2,203/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 1950
6,969 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49320, Chippewa Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 247 (100%) |
| Owner Occupied HU | 98 (39.7%) |
| Renter Occupied HU | 13 ( 5.3%) |
| Vacant Housing Units | 136 (55.1%) |
| Median Home Value | $146,667 |
| Average Home Value | $205,689 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
10
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Listed by: Randy Ostrander • Lake and Lodge Realty LLC
Mls Name: MichRIC
Mls Provider:
Mls ID: #25006486
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2025 MichRIC, LLC. All rights reserved.