255 N Michigan St APT 11-60LawrenceKS66044
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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
Investment property for sale in Lawrence at 255 N Michigan St APT 11-60, Lawrence, KS, 66044 offers a 11.5% rental yield on a $100,000 purchase with $958/mo rent. Total monthly income registers $958/mo, and a $489/mo payment leaves $293/mo available for distribution. Annual cash flow reaches $3,518/yr on $33,150 to close, and return on cash invested stands at 30.52% in year one. Equity gained on principal adds $645/yr while 5% annual appreciation supports $27,628 over five years. Portfolio math shows five-year ROI at 160.48% and total cumulative return in cash at $53,200. Financing is available via Ziffy Mortgage’s DSCR loan, which evaluates $958/mo property income against a $489/mo payment rather than investor’s personal income documents like W2s, Salary slips, and Tax returns.
Condo
Built in 1970
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 66044, Lawrence, KS area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,651 (100%) |
| Owner Occupied HU | 4,587 (36.3%) |
| Renter Occupied HU | 6,940 (54.9%) |
| Vacant Housing Units | 1,124 ( 8.9%) |
| Median Home Value | $254,609 |
| Average Home Value | $350,963 |
Housing Distribution
Address Breakdown
Residential
12,030
Single Family
9,834
Multi-Family
2,196
Businesses
1,537
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