230 Water 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
Rental property for sale in Grass Lake at 230 Water St, Grass Lake, MI, 49240 generates $2,014/mo in rent and, after a $808/mo payment, leaves $926/mo in cash flow. Total monthly income is $2,014/mo, and annual cash flow is $11,106/yr on $54,698 invested. Return on cash invested sits at 40.21% in year one, and rental yield is 14.65% on a $165,000 entry. Equity gained on principal adds $1,065/yr, while 5% annual appreciation builds toward $45,586 over five years. Five-year ROI reaches 212.28% and total cumulative return in cash sums $116,111. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,014/mo property income rather than buyer’s personal income.
Single Family
Built in 1935
9,147 sqft 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: Jeffrey J Klink • The Charles Reinhart Company
Mls Name: MichRIC
Mls Provider:
Mls ID: #24040854
Disclaimer: Information is deemed reliable but not guaranteed. Copyright 2024 MichRIC, LLC. All rights reserved.