217 N Lake StGrass LakeMI49240
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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 Grass Lake at 217 N Lake St, Grass Lake, MI, 49240 with 5% annual appreciation on a $219,900 basis while $1,471/mo rent supports operations. Total monthly income totals $1,471/mo and a $1,076/mo payment preserves $21/mo for cash returns. Annual cash flow comes to $254/yr on $72,897 deployed, and return on cash invested reaches 20.26% in year one. Equity gained on principal adds $1,419/yr, and five-year appreciation sums $60,754 alongside rental yield of 8.03%. Five-year ROI measures 105.29% and total cumulative return in cash totals $76,756.
Investors can finance this property with Ziffy Mortgage’s DSCR loan that underwrites to $1,471/mo property income versus a $1,076/mo payment rather than your W2s, Paystubs, Tax returns, or 1099 forms.
Multi Family
Built in 1900
0.26 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49240, Grass Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 3,858 (100%) |
| Owner Occupied HU | 3,252 (84.3%) |
| Renter Occupied HU | 289 ( 7.5%) |
| Vacant Housing Units | 317 ( 8.2%) |
| Median Home Value | $321,804 |
| Average Home Value | $356,895 |
Housing Distribution
Address Breakdown
Residential
3,700
Single Family
3,700
Multi-Family
0
Businesses
133
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Listed by: Skylar Harris • The Brokerage House
Mls Name: MichRIC
Mls Provider:
Mls ID: #24016949
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.