2455 Cove RdWalesMI48027
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 Wales at 2455 Cove Rd, Wales, MI, 48027 priced at $330,000 converts $2,874/mo rent into $698/mo cash flow after a $1,615/mo obligation. Total monthly income equals $2,874/mo, and annual cash flow totals $8,376/yr on $109,395 invested. Return on cash invested prints 27.57% in year one, and rental yield reads 10.45% against a $330,000 entry. Equity gained on principal adds $2,129/yr, while 5% annual appreciation compiles into $91,173 by year five. Five-year ROI reaches 144.42% and total cumulative return in cash sums $157,991. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,874/mo property income covering a $1,615/mo payment, not borrower’s personal income.
Single Family
Built in 2000
2.30 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48027, Goodells, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,296 (100%) |
| Owner Occupied HU | 1,152 (88.9%) |
| Renter Occupied HU | 84 ( 6.5%) |
| Vacant Housing Units | 60 ( 4.6%) |
| Median Home Value | $279,188 |
| Average Home Value | $292,381 |
Housing Distribution
Address Breakdown
Residential
1,246
Single Family
1,246
Multi-Family
0
Businesses
37
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Listed by: Marnie L Ickes • Realty Executives Home Towne Chesterfield
Mls Name: MiRealSource
Mls Provider:
Mls ID: #50173149
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