2462 Burcham DrEast LansingMI48823
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 2462 Burcham Dr, East Lansing, MI, 48823 in East Lansing at $225,000 earns $1,506/mo in rent and nets $22/mo after the $1,012/mo payment, a 8.03% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $62,163 over five years. Ziffy Mortgage underwrites this on a 1.49 DSCR without U.S. credit history. With $2,072/yr in principal paydown, total projected return reaches $87,156.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 8% | 6.2% |
| Monthly Cash Flow | $22 | $250 |
City averages based on East Lansing market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,506 |
| Total Monthly Debt Service | $1,394 |
| DSCR Ratio | 1.08x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 1986
435.60 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48823, East Lansing, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,865 (100%) |
| Owner Occupied HU | 10,317 (39.9%) |
| Renter Occupied HU | 13,227 (51.1%) |
| Vacant Housing Units | 2,321 ( 9.0%) |
| Median Home Value | $296,966 |
| Average Home Value | $329,463 |
Housing Distribution
Address Breakdown
Residential
23,522
Single Family
14,377
Multi-Family
9,145
Businesses
1,219
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
Condo
Built in 1986
435.60 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48823, East Lansing, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 25,865 (100%) |
| Owner Occupied HU | 10,317 (39.9%) |
| Renter Occupied HU | 13,227 (51.1%) |
| Vacant Housing Units | 2,321 ( 9.0%) |
| Median Home Value | $296,966 |
| Average Home Value | $329,463 |
Housing Distribution
Address Breakdown
Residential
23,522
Single Family
14,377
Multi-Family
9,145
Businesses
1,219
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Michael L Loveless • Five Star Real Estate - Lansing
Mls Name: Greater Lansing AOR
Mls ID: #290640