301 N Main StLake CityMI49651
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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
Rental property for sale in Lake City at 301 N Main St, Lake City, MI, 49651 offers $2,035/mo rent that, after a $1,542/mo payment. Total monthly income is $2,035/mo. Return on cash invested measures 19.42% in year one, and rental yield stands at 7.75% at a $315,000 entry. Equity gained on principal adds $2,033/yr while 5% annual appreciation compounds into $87,029 by year five. Five-year ROI records 100.76% and total cumulative return in cash reaches $105,221. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $2,035/mo property income versus a $1,542/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1938
8,712 sqft 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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