238 Riverbend DrMilanMI48160
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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 Milan at 238 Riverbend Dr, Milan, MI, 48160 priced at $129,000 converts $1,604/mo rent into $126/mo cash flow after a $631/mo obligation. Total monthly income equals $1,604/mo, and annual cash flow totals $1,512/yr on $42,764 invested. Return on cash invested prints 23.44% in year one, and rental yield reads 14.92% against a $129,000 entry. Equity gained on principal adds $832/yr, while 5% annual appreciation compiles into $35,640 by year five. Five-year ROI reaches 128.69% and total cumulative return in cash sums $55,033. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,604/mo property income covering a $631/mo payment, not borrower’s personal income.
Condo
Built in 1971
N/A lot
$N/A/sqft
$418 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48160, Milan, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,468 (100%) |
| Owner Occupied HU | 4,344 (79.4%) |
| Renter Occupied HU | 890 (16.3%) |
| Vacant Housing Units | 234 ( 4.3%) |
| Median Home Value | $295,238 |
| Average Home Value | $368,325 |
Housing Distribution
Address Breakdown
Residential
5,054
Single Family
4,855
Multi-Family
199
Businesses
281
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
