2298 Ely RdHonorMI49640
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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
Total monthly income runs $2,470/mo, and a $1,884/mo payment. Purchase price stands at $385,000, and rental yield measures 7.7% with $2,470/mo rent. Return on cash invested shows 19.26% in year one, and 5% annual appreciation builds toward $106,368 over five years. Five-year ROI reaches 99.93% and total cumulative return in cash records $127,534. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,470/mo property income covering a $1,884/mo payment rather than investor’s personal income.
Single Family
Built in 1968
1.50 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49640, Honor, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,514 (100%) |
| Owner Occupied HU | 710 (46.9%) |
| Renter Occupied HU | 78 ( 5.2%) |
| Vacant Housing Units | 726 (48.0%) |
| Median Home Value | $356,069 |
| Average Home Value | $416,218 |
Housing Distribution
Address Breakdown
Residential
863
Single Family
863
Multi-Family
0
Businesses
77
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Listed by: Jon Zickert • REO-TCBeulah-Frankfort-233027
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1939154
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2025 Northern Great Lakes REALTORS MLS. All Rights Reserved.