224 Melody LnKelleys IslandOH43438
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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 Kelleys Island at 224 Melody Ln, Kelleys Island, OH, 43438 offers a 5.81% rental yield on a $395,000 purchase with $1,913/mo rent. 63% in year one. Equity gained on principal adds $2,549/yr while 5% annual appreciation supports $109,131 over five years. Portfolio math shows five-year ROI at 69.72% and total cumulative return in cash at $91,290. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $1,913/mo property income against a $1,933/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Single Family
Built in 2000
7,000 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 43438, Kelleys Island, OH area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 895 (100%) |
| Owner Occupied HU | 117 (13.1%) |
| Renter Occupied HU | 19 ( 2.1%) |
| Vacant Housing Units | 759 (84.8%) |
| Median Home Value | $329,762 |
| Average Home Value | $415,534 |
Housing Distribution
Address Breakdown
Residential
1
Single Family
1
Multi-Family
0
Businesses
38
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Listed by: Lisa J. Horman • Howard Hanna - Port Clinton
Mls Name: Firelands MLS
Mls ID: #20254607