2880 N State RdLutherMI49656
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 Luther at 2880 N State Rd, Luther, MI, 49656 priced at $1,070,000 converts $2,203/mo rent into after a $5,237/mo obligation. Total monthly income equals $2,203/mo. Return on cash invested prints 3.57% in year one, and rental yield reads 2.47% against a $1,070,000 entry. Equity gained on principal adds $6,905/yr, while 5% annual appreciation compiles into $295,621 by year five. Five-year ROI reaches 15.68% and total cumulative return in cash sums $54,345. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,203/mo property income covering a $5,237/mo payment, not borrower’s personal income.
Single Family
Built in 1950
208 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49656, Luther, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 1,603 (100%) |
| Owner Occupied HU | 666 (41.5%) |
| Renter Occupied HU | 96 ( 6.0%) |
| Vacant Housing Units | 841 (52.5%) |
| Median Home Value | $149,306 |
| Average Home Value | $214,223 |
Housing Distribution
Address Breakdown
Residential
728
Single Family
728
Multi-Family
0
Businesses
19
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