230 Bonnie Brook DrCharlotteMI48813
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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
Rental property for sale in Charlotte at 230 Bonnie Brook Dr, Charlotte, MI, 48813 priced at $180,000 converts $3,821/mo rent into $2,394/mo cash flow after a $881/mo obligation. Total monthly income equals $3,821/mo, and annual cash flow totals $28,728/yr on $59,670 invested. Return on cash invested prints 68.05% in year one, and rental yield reads 25.47% against a $180,000 entry. Equity gained on principal adds $1,162/yr, while 5% annual appreciation compiles into $49,731 by year five. Five-year ROI reaches 363.29% and total cumulative return in cash sums $216,773. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $3,821/mo property income covering a $881/mo payment, not borrower’s personal income.
Condo
Built in 1992
N/A lot
$N/A/sqft
$240 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48813, Charlotte, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 8,757 (100%) |
| Owner Occupied HU | 6,674 (76.2%) |
| Renter Occupied HU | 1,648 (18.8%) |
| Vacant Housing Units | 435 ( 5.0%) |
| Median Home Value | $238,833 |
| Average Home Value | $262,106 |
Housing Distribution
Address Breakdown
Residential
8,672
Single Family
8,161
Multi-Family
511
Businesses
621
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Listed by: Ann M Britton • WEICHERT, REALTORS- Emerald Properties
Mls Name: Greater Lansing AOR
Mls Provider:
Mls ID: #283132
Disclaimer: IDX information is provided exclusively for Consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS. Copyright 2023 Greater Lansing Association of REALTORS