243 Lake DrNorton ShoresMI49441
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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 Norton Shores at 243 Lake Dr, Norton Shores, MI, 49441 offers $2,933/mo rent that, after a $1,642/mo payment, leaves $721/mo cash flow. Total monthly income is $2,933/mo, and annual cash flow is $8,648/yr on $111,218 cash. Return on cash invested measures 27.68% in year one, and rental yield stands at 10.49% at a $335,500 entry. Equity gained on principal adds $2,165/yr while 5% annual appreciation compounds into $92,692 by year five. Five-year ROI records 145.09% and total cumulative return in cash reaches $161,361. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,933/mo property income versus a $1,642/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1930
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49441, Muskegon, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 16,684 (100%) |
| Owner Occupied HU | 12,131 (72.7%) |
| Renter Occupied HU | 3,405 (20.4%) |
| Vacant Housing Units | 1,148 ( 6.9%) |
| Median Home Value | $218,233 |
| Average Home Value | $257,061 |
Housing Distribution
Address Breakdown
Residential
16,562
Single Family
14,651
Multi-Family
1,911
Businesses
889
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Listed by: Anne M Valentine • Coldwell Banker Woodland Schmidt Muskegon
Mls Name: MichRIC
Mls ID: #25027249