283 Westfield DrErieMI48133
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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 Erie at 283 Westfield Dr, Erie, MI, 48133 priced at $161,000 converts $1,250/mo rent into $188/mo cash flow after a $788/mo obligation. Total monthly income equals $1,250/mo, and annual cash flow totals $2,260/yr on $53,372 invested. Return on cash invested prints 24.14% in year one, and rental yield reads 9.32% against a $161,000 entry. Equity gained on principal adds $1,039/yr, while 5% annual appreciation compiles into $44,481 by year five. Five-year ROI reaches 126.14% and total cumulative return in cash sums $67,323. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,250/mo property income covering a $788/mo payment, not borrower’s personal income.
Manufactured
Built in 2023
N/A lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 48133, Erie, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,167 (100%) |
| Owner Occupied HU | 1,767 (81.5%) |
| Renter Occupied HU | 225 (10.4%) |
| Vacant Housing Units | 175 ( 8.1%) |
| Median Home Value | $236,638 |
| Average Home Value | $248,434 |
Housing Distribution
Address Breakdown
Residential
2,474
Single Family
2,474
Multi-Family
0
Businesses
131
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