2872 E Phelps RdLake CityMI49651
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
Investment property for sale in Lake City at 2872 E Phelps Rd, Lake City, MI, 49651 earns $7/mo cash flow from $2,578/mo rent with a $1,908/mo payment. Total monthly income totals $2,578/mo, and annual cash flow totals $86/yr on $129,252 capital. ROI tracks 19.98% on current figures, and rental yield reads 7.93% at a $389,900 purchase. Equity gained on principal adds $2,516/yr, and 5% annual appreciation supports $107,722 over five years. Five-year ROI reaches 103.75% and total cumulative return in cash sums $134,101. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $2,578/mo property income instead of your personal income.
Single Family
Built in 2016
20.20 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49651, Lake City, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 5,049 (100%) |
| Owner Occupied HU | 2,685 (53.2%) |
| Renter Occupied HU | 602 (11.9%) |
| Vacant Housing Units | 1,762 (34.9%) |
| Median Home Value | $187,966 |
| Average Home Value | $256,539 |
Housing Distribution
Address Breakdown
Residential
3,243
Single Family
3,243
Multi-Family
0
Businesses
187
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Listed by: Tamara Mcleod Helsel • City2Shore Real Estate Northern Michigan
Mls Name: NGLRMLS
Mls Provider:
Mls ID: #1932595
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 2025 Northern Great Lakes REALTORS MLS. All Rights Reserved.