2573 Chestnut StCentral LakeMI49622
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 Central Lake at 2573 Chestnut St, Central Lake, MI, 49622 priced at $184,900 converts $2,741/mo rent into $1,522/mo cash flow after a $905/mo obligation. Total monthly income equals $2,741/mo, and annual cash flow totals $18,260/yr on $61,294 invested. Return on cash invested prints 49.7% in year one, and rental yield reads 17.79% against a $184,900 entry. Equity gained on principal adds $1,193/yr, while 5% annual appreciation compiles into $51,084 by year five. Five-year ROI reaches 263.14% and total cumulative return in cash sums $161,287. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,741/mo property income covering a $905/mo payment, not borrower’s personal income.
Single Family
Built in 1900
0.25 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49622, Central Lake, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,880 (100%) |
| Owner Occupied HU | 1,007 (53.6%) |
| Renter Occupied HU | 187 ( 9.9%) |
| Vacant Housing Units | 686 (36.5%) |
| Median Home Value | $261,634 |
| Average Home Value | $390,742 |
Housing Distribution
Address Breakdown
Residential
1,117
Single Family
1,117
Multi-Family
0
Businesses
77
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Listed by: Chad Anderson • Coldwell Banker Schmidt-Kalkas
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1921977
Disclaimer: The information in this listing was gathered from third-party sources including the seller. Northern Great Lakes REALTORS MLS and its subscribers disclaim any and all representations or warranties as to the accuracy of this information. Copyright 2024 Northern Great Lakes REALTORS MLS. All Rights Reserved.