215 Wayne St #4Saint JosephMI49085
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 Saint Joseph at 215 Wayne St #4, Saint Joseph, MI, 49085 offers $3,773/mo rent that, after a $2,687/mo payment. Total monthly income is $3,773/mo. Return on cash invested measures 18.92% in year one, and rental yield stands at 8.25% at a $549,000 entry. Equity gained on principal adds $3,543/yr while 5% annual appreciation compounds into $151,679 by year five. Five-year ROI records 98.8% and total cumulative return in cash reaches $178,460. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $3,773/mo property income versus a $2,687/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Condo
Built in 1988
N/A lot
$N/A/sqft
$325 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49085, Saint Joseph, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,734 (100%) |
| Owner Occupied HU | 8,123 (69.2%) |
| Renter Occupied HU | 2,388 (20.4%) |
| Vacant Housing Units | 1,223 (10.4%) |
| Median Home Value | $316,036 |
| Average Home Value | $368,464 |
Housing Distribution
Address Breakdown
Residential
11,303
Single Family
10,112
Multi-Family
1,191
Businesses
1,141
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Mary Kay Sverid • Coldwell Banker Realty
Mls Name: MichRIC
Mls Provider:
Mls ID: #24047324
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.