304 S Ferry St UNIT 5LudingtonMI49431
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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 Ludington at 304 S Ferry St UNIT 5, Ludington, MI, 49431 priced at $330,000 pairs $1,536/mo rent with after a $1,615/mo payment. Total monthly income equals $1,536/mo. Return on cash invested is 9.82% in year one, and rental yield stands at 5.59% on a $330,000 basis. Equity gained on principal adds $2,129/yr, and 5% annual appreciation accumulates to $91,173 by year five. Five-year ROI measures 50.36% and total cumulative return in cash reaches $55,091. For financing, Ziffy Mortgage’s DSCR program evaluates $1,536/mo property income against a $1,615/mo payment instead of your W2s, 1099s, or Tax returns.
Condo
Built in 1969
871 sqft lot
$N/A/sqft
$280 monthly HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49431, Ludington, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 10,373 (100%) |
| Owner Occupied HU | 5,754 (55.5%) |
| Renter Occupied HU | 1,973 (19.0%) |
| Vacant Housing Units | 2,646 (25.5%) |
| Median Home Value | $238,393 |
| Average Home Value | $281,324 |
Housing Distribution
Address Breakdown
Residential
8,827
Single Family
7,558
Multi-Family
1,269
Businesses
857
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